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 and Spreadex both offer competitive trading costs, but BlackBull Markets comes out ahead on commissions and fees. 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 #26 out of 36. For traders focused on low costs, BlackBull Markets has the edge overall.
At BlackBull Markets, fees depend on the account type you choose. The Standard account has no commission and no minimum deposit, but spreads are higher. The Prime account has lower spreads, with average EUR/USD spreads of 0.16 pips in March 2024, and an all-in cost of about 0.76 pips after commission; it requires a $2,000 minimum deposit and charges $3 per side, or $6 round turn per lot. The ECN Institutional account is aimed at larger active traders, with a $20,000 minimum deposit and $2 per side, or $4 round turn, in commission.
Spreadex is simpler, with no account-by-account structure in this comparison, but its EUR/USD pricing was less competitive than BlackBull Markets. In January 2024, Spreadex reported average EUR/USD spreads of 0.81 pips, with a minimum spread of 0.6 pips available 60% of the time. That makes Spreadex a solid option, but BlackBull Markets offers better pricing for most traders, especially on its Prime account.
| Feature |
BlackBull Markets
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.16 | 0.81 |
| All-in Cost EUR/USD - Active | 0.76 | N/A |
| Non-wire bank transfer | 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 trading, plus the ability to trade directly from charts. Each broker also earns 4 out of 5 stars for trading platforms and tools, so both offer a solid setup for everyday trading. That said, BlackBull Markets has a wider platform range overall, including Windows desktop software, MetaTrader 4 (MT4), MetaTrader 5 (MT5), and copy trading, while Spreadex does not offer MT4, MT5, desktop download trading, or copy trading.
One key difference is that Spreadex offers its own in-house platform, which BlackBull Markets does not. In ForexBrokers.com’s Trading Platforms and Tools ranking, BlackBull Markets places higher at #25 out of 36 brokers, compared with Spreadex at #35. For traders who want more platform choice and extra features, BlackBull Markets has the edge, while Spreadex may suit those who prefer a broker-built platform in the browser.
| 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 iPhone and Android apps, along with stock and forex price alerts, so traders can manage positions and stay updated while away from a desktop. Each app also supports drawing trendlines on charts, and both firms earn a 4-star rating for mobile trading apps. In ForexBrokers.com’s ranking out of 36 brokers, BlackBull Markets places higher at #28, while Spreadex sits at #34.
Where BlackBull Markets pulls ahead is in charting and account syncing. Its mobile app includes watchlist symbol syncing, so changes made on the app carry over to the online account, and it offers 30 technical studies for chart analysis. It also auto-saves chart drawings, which can be helpful for traders who want their work preserved. Spreadex does not offer watchlist syncing or auto-save for drawings, and its mobile charting details are more limited.
| 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 cover the basics well when it comes to market research. Each broker provides daily market commentary, an economic calendar, Autochartist tools, and a sentiment indicator that shows whether traders are leaning long or short on different markets. Neither broker includes Trading Central, TipRanks, or Acuity Trading, so their extra research add-ons are fairly similar in that respect.
The main difference is in 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. Still, BlackBull Markets earns a slightly higher research score, with 4.5 out of 5 stars and a #17 ranking out of 36 brokers, compared with Spreadex’s 4 stars and #28 ranking. For traders who want more in-depth market news, Spreadex has the edge, but BlackBull Markets rates a bit better overall for research.
| 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.
When comparing BlackBull Markets and Spreadex for beginner-friendly learning tools, BlackBull Markets comes out ahead overall. It offers forex and CFD education, monthly online client webinars, and at least 10 beginner videos as well as 10 advanced videos, which gives new traders and more experienced users plenty to work with. Spreadex also provides at least 10 beginner videos, but it does not appear to offer forex or CFD education in the same depth, and it does not run monthly educational webinars.
That gap shows up in the ratings and rankings too. BlackBull Markets is rated 4.5 out of 5 for Education and ranks #24 out of 36 brokers on ForexBrokers.com, while Spreadex is rated 4 out of 5 and ranks #34. For beginners who want more guidance, live learning sessions, and a wider range of trading education, BlackBull Markets offers the stronger set of resources.
| 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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| 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) - Standard account | 1.16 | 0.81 | |
| All-in Cost EUR/USD - Active | 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 | 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 Watchlist [DELETED] | |||
| 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 | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| 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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