Written by ForexBrokers.com
In this head to head comparison of BlackBull Markets vs Spreadex, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
BlackBull Markets (founded 2014) and Spreadex (founded 1999) are online brokers that are not publicly traded and are not banks. Each holds one license from a top-tier regulator (Tier-1) and no Tier-2 licenses, giving them a similar regulatory footprint.
ForexBrokers.com rates BlackBull Markets at 77/99 and Spreadex at 70/99—both in the “average risk” range (70–79). For context: 90–99 is highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and below 59 not trusted. With comparable oversight but a slightly higher Trust Score, BlackBull Markets edges Spreadex on overall trust.
| Feature |
BlackBull Markets
|
Spreadex
|
|---|---|---|
| Year Founded | 2014 | 1999 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
BlackBull Markets comes out ahead of Spreadex on commissions and fees, especially for active forex traders. BlackBull Markets is rated 4.5 out of 5 stars and ranks #9 out of 36 brokers for this category, while Spreadex is rated 4 out of 5 stars and ranks #27 out of 36. At BlackBull, trading costs depend on the account you choose: the Standard account has no commission but wider spreads, the Prime account has lower spreads with a $3 per side commission, and the ECN Institutional account is aimed at larger traders with even lower commission rates.
For example, BlackBull Markets’ Prime account had an average EUR/USD spread of 0.16 pips in March 2024, which works out to an all-in cost of 0.76 pips after commission. The Standard account is simpler and has no minimum deposit, but its spreads are higher. By comparison, Spreadex had an average EUR/USD spread of 0.81 pips in January 2024, with a minimum spread of 0.6 pips available 60% of the time during that month.
In plain terms, BlackBull Markets offers more ways to lower trading costs if you are willing to pay commission or meet higher deposit requirements, while Spreadex keeps things more straightforward but tends to be pricier on average for EUR/USD. If low forex trading costs matter most, BlackBull Markets is the stronger choice between the two.
| Feature |
BlackBull Markets
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Spread-only account | 1.16 | 0.81 |
| All-in Cost EUR/USD - Raw spread account | 0.76 | N/A |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
BlackBull Markets offers a wider range of investments than Spreadex, with 26,000 tradeable symbols compared with 10,000. It also gives access to 72 forex pairs, ahead of Spreadex’s 52, and both brokers let clients trade forex as CFDs or spot contracts. In addition, BlackBull Markets stands out for offering exchange-traded U.S. shares and international shares, while Spreadex does not provide these direct stock buying options.
Both brokers offer cryptocurrency CFDs, but neither lets you buy actual cryptocurrency. BlackBull Markets also supports copy trading, which Spreadex does not. Even so, both brokers earn 5 stars for Range of Investments, although BlackBull Markets is ranked higher by ForexBrokers.com at #7 out of 36 brokers, versus Spreadex at #13 out of 36.
| Feature |
BlackBull Markets
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 26000 | 10000 |
| Forex Pairs (Total) | 72 | 52 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | No |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
BlackBull Markets and Spreadex both give traders a free demo account and web-based platform access, plus the ability to trade directly from charts. Each broker also earns a 4-star rating for trading platforms and tools, so both offer a solid starting point for beginners and active traders alike. That said, BlackBull Markets has the edge for platform choice and trading features, with support for MetaTrader 4 (MT4), MetaTrader 5 (MT5), a Windows desktop platform, and copy trading. Spreadex, by contrast, offers its own in-house platform but does not support MT4, MT5, a desktop download, or copy trading.
For traders who want more platform flexibility, BlackBull Markets may be the better fit thanks to its wider range of tools and familiar third-party software options. Spreadex still covers the basics well with its web platform and chart-based trading, but it is more limited overall in platform variety. This difference is reflected in ForexBrokers.com rankings too: BlackBull Markets is ranked #26 out of 36 brokers for trading platforms and tools, while Spreadex sits lower at #37 out of 36.
| Feature |
BlackBull Markets
|
Spreadex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 109 | 58 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
BlackBull Markets and Spreadex both offer mobile trading apps for iPhone and Android, and both include stock or forex price alerts. Each app also lets users draw trendlines on charts, and both brokers earn a 4-star rating for mobile trading apps. That means both platforms cover the basics well for traders who want to stay connected while on the go.
BlackBull Markets has a clear edge in mobile features. Its app syncs watchlists with the online account, so changes update across devices, while Spreadex does not offer watchlist syncing. BlackBull Markets also provides 30 technical studies in its charting tools and automatically saves chart drawings, which can be helpful for active traders. In ForexBrokers.com’s ranking for mobile trading apps, BlackBull Markets places #29 out of 36 brokers, while Spreadex ranks #36, showing that BlackBull Markets offers the stronger mobile trading experience overall.
| Feature |
BlackBull Markets
|
Spreadex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
BlackBull Markets and Spreadex both give traders useful market research tools, including daily market commentary, Autochartist signals, sentiment data, and an economic calendar. This means each broker can help you track news, spot possible trade ideas, and keep an eye on what is happening in global markets.
The main difference is in forex news coverage and overall research quality. Spreadex offers forex news from major sources such as Bloomberg, Reuters, and Dow Jones, while BlackBull Markets does not. BlackBull Markets still earns a higher research score, with 4.5 out of 5 stars and a ForexBrokers.com ranking of #17 out of 36, compared with Spreadex’s 4 stars and #29 ranking.
| Feature |
BlackBull Markets
|
Spreadex
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners looking for trading education, BlackBull Markets has the edge over Spreadex. BlackBull Markets offers forex and CFDs education with at least 10 learning pieces, plus monthly educational client webinars, making it easier for new traders to keep learning in a guided way. It also provides at least 10 beginner videos and 10 advanced videos, so traders can build skills over time. Spreadex also offers at least 10 beginner videos, but it does not provide monthly educational webinars, and it does not meet the same level of forex or CFDs education or advanced video coverage.
Overall, BlackBull Markets scores higher for education, with 4.5 out of 5 stars and a rank of #25 out of 36 brokers on ForexBrokers.com. Spreadex is rated 4 out of 5 stars and ranks #36 out of 36, which suggests a weaker range of learning tools for beginners and more experienced traders alike. If education is a key factor in choosing a broker, BlackBull Markets offers a more helpful learning setup than Spreadex.
| Feature |
BlackBull Markets
|
Spreadex
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that BlackBull Markets is better than Spreadex. BlackBull Markets finished with an overall rank of #22, while Spreadex finished with an overall rank of #33.
BlackBull Markets is a growing broker best known for its broad platform support, including MetaTrader, cTrader, TradingView, and copy trading tools, along with a large range of tradeable instruments.
| Feature |
BlackBull Markets
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Spreadex
|
|---|---|---|
| Overall Rating |
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| Trust Score | 77 | 70 |
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BlackBull Markets vs Spreadex: neither broker lets you buy actual (delivered) cryptocurrency, but both allow you to trade cryptocurrency CFDs.
BlackBull Markets outpaces Spreadex for deposits and withdrawals by supporting ACH/SEPA transfers, Skrill, and bank wires, while Spreadex offers bank wires only and lacks ACH/SEPA, PayPal, and Skrill; PayPal is unavailable at both brokers, and Visa/Mastercard availability is not specified for either.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | BlackBull Markets | Spreadex | |
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| Trust Score | 77 | 70 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review | Spreadex Review |
| Broker Screenshots | BlackBull Markets | Spreadex | |
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| Broker Gallery (click to expand) |
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| Regulation | BlackBull Markets | Spreadex | |
|---|---|---|---|
| Trust Score | 77 | 70 | |
| Year Founded | 2014 | 1999 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | BlackBull Markets | Spreadex | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | BlackBull Markets | Spreadex | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | BlackBull Markets | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 26000 | 10000 | |
| Forex Pairs (Total) | 72 | 52 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | BlackBull Markets | Spreadex | |
|---|---|---|---|
| Average spread (EUR/USD) - Spread-only account | 1.16 | 0.81 | |
| All-in Cost EUR/USD - Raw spread account | 0.76 | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | BlackBull Markets | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | No |
| Trading Platforms | BlackBull Markets | Spreadex | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No |
| Trading Tools | BlackBull Markets | Spreadex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 109 | 58 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | BlackBull Markets | Spreadex | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | BlackBull Markets | Spreadex | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | BlackBull Markets | Spreadex | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | BlackBull Markets | Spreadex | |
|---|---|---|---|
| EUR/USD | Yes | Yes | |
| Review | BlackBull Markets Review | Spreadex Review |
| Overall | BlackBull Markets | Spreadex | |
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| Trust Score | 77 | 70 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review | Spreadex Review |
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