Written by ForexBrokers.com
In this head to head comparison of BlackBull Markets vs TopFX, 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.
Comparing online brokers BlackBull Markets and TopFX reveals several key regulatory insights that can guide investors. Both BlackBull Markets, founded in 2014, and TopFX, established in 2010, are privately-owned companies and not listed on any stock exchange. Neither operates as a bank. When assessing regulatory trust, BlackBull Markets holds one Tier-1 license, the same number as TopFX, indicating a similar level of high trust according to ForexBrokers.com. However, neither broker holds any Tier-2 licenses, which are also considered trusted.
The ForexBrokers.com Trust Score further highlights differences between the two brokers. BlackBull Markets earns a score of 78 out of 99, placing it in the "average risk" category. Meanwhile, TopFX has a Trust Score of 67 out of 99, which classifies it as "high risk." While both brokers have the backing of a single Tier-1 license, BlackBull Markets holds a slightly better trust rating, suggesting a marginally safer option for investors assessing risk and regulation compliance.
| Feature |
BlackBull Markets
|
TopFX
|
|---|---|---|
| Year Founded | 2014 | 2010 |
| 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 | 1 |
BlackBull Markets provides traders with three account options that appeal to different trading needs and preferences. The Prime account stands out for its competitive pricing, offering an average EUR/USD spread of 0.16 pips. This leads to a total cost of 0.76 pips when including the per-side commission of 0.3 pips, or $6 per 10,000 units traded. Although it requires a minimum deposit of $2,000, many find it favorable over the commission-free Standard account, which features higher spreads. For high-volume traders, the ECN Institutional account requires at least $20,000 deposit and offers even lower commission rates of $4 per round turn. BlackBull Markets boasts a commission and fees rating of 4.5 stars and ranks 18th out of 63 brokers in this category by ForexBrokers.com.
TopFX also offers traders two main account types: the spread-only ZERO account and the commission-based RAW account. With the RAW account, traders encounter a commission fee of 2.75 EUR per side, totaling to 5.50 EUR per round turn for a standard lot. This accompanies a low average spread of 0.33 pips on the EUR/USD pair, yielding an overall cost of about 0.88 pips, aligning well with the industry norms. Meanwhile, the ZERO account is free from commissions but has wider average spreads, such as 1.03 pips for the EUR/USD pair. TopFX is rated with 4 stars for its commission and fees and ranks 40th out of 63 brokers as per ForexBrokers.com.
In conclusion, when weighing the advantages of BlackBull Markets against TopFX, both brokers offer a variety of accounts that cater to different trader profiles. BlackBull Markets provides a well-rounded offering with lower spreads for those willing to meet its deposit requirements, whereas TopFX caters to traders who prefer a choice between commission-based or spread-only accounts. Deciding between them ultimately depends on a trader’s specific needs regarding cost structure and deposit capability. Each broker’s standing in industry rankings affirms their strengths: BlackBull Markets at 18th place with 4.5-star feedback, and TopFX in 40th place with a 4-star rating for their commissions and fees.
| Feature |
BlackBull Markets
|
TopFX
|
|---|---|---|
| Minimum Deposit | $0 | Depends on payment method |
| Average Spread EUR/USD - Standard | 0.71 | 1.03 |
| All-in Cost EUR/USD - Active | 0.71 | 0.88 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing BlackBull Markets and TopFX in terms of available investments, BlackBull Markets stands out with a vast selection of 26,000 tradeable symbols, in stark contrast to TopFX's more limited offering of 655 symbols. Both platforms provide forex trading as a CFD or spot contract, but BlackBull Markets offers a slightly broader choice with 72 forex pairs compared to TopFX's 60. BlackBull Markets also extends its range to include the ability to trade exchange-traded securities on both U.S. and international exchanges, something not offered by TopFX. This means investors can purchase well-known stocks like Apple and Vodafone directly through BlackBull Markets, giving it a significant advantage for those seeking a more comprehensive stock trading experience.
Moreover, both brokers provide options for copy trading and trading cryptocurrency derivatives; however, they do not support buying actual cryptocurrencies. BlackBull Markets is notably recognized for its extensive investment range, earning a 5-star rating and ranking 6th among 63 brokers according to ForexBrokers.com. In comparison, TopFX has a 3.5-star rating and is ranked 46th in the same category. Thus, for traders who value a rich and diverse portfolio, BlackBull Markets is clearly the preferred choice.
| Feature |
BlackBull Markets
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 26000 | 655 |
| Forex Pairs (Total) | 72 | 60 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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.
When comparing BlackBull Markets and TopFX for trading platforms and tools, both provide a range of features designed to enhance the trading experience. Each offers free virtual demo accounts, convenient for traders to practice without financial risk. They also provide Windows-based desktop platforms and web-based platforms, giving traders flexibility and convenience. With access to MetaTrader 4, both brokers cater to a large segment of the trading community, though only BlackBull Markets supports the more advanced MetaTrader 5. BlackBull Markets also stands out by offering ZuluTrade for social trading, which TopFX does not provide.
Regarding charting tools, BlackBull Markets offers an impressive 60 drawing tools, compared to TopFX's 15, though TopFX allows for a more extensive watch list with 7 columns to BlackBull's 6. Both brokers support trading directly from stock charts, providing ease of use for traders. Although each broker earns a four-star rating for their trading platforms and tools, BlackBull Markets holds a higher ranking at 29th out of 63 brokers, while TopFX is at 45th, highlighting BlackBull's slight edge in trading platform offerings.
| Feature |
BlackBull Markets
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 109 | 30 |
| Charting - Drawing Tools (Total) | 60 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
BlackBull Markets and TopFX both offer mobile trading apps compatible with iPhone and Android devices, making them accessible to a wide range of users. Both platforms provide stock or forex price alerts and allow the drawing of trendlines and viewing of multiple time frames on charts. This gives traders flexibility and the tools needed for in-depth analysis. They each offer 30 technical studies for charting, ensuring traders have robust analytical capabilities at their fingertips. Furthermore, both apps auto-save drawings and support the creation of watchlists with real-time quotes, adding to user convenience.
However, a standout feature of the BlackBull Markets app is its support for watchlist symbol syncing. This ensures that any changes made to watchlists are reflected across both mobile and online platforms, providing a seamless experience for users. TopFX does not currently offer this feature. When it comes to ratings, both apps score 4 out of 5 stars, indicating strong user satisfaction. However, BlackBull Markets ranks higher in the ForexBrokers.com list of mobile trading apps, positioned at #31 out of 63 brokers, while TopFX sits at #51, suggesting a more favorable market reputation for BlackBull Markets.
| Feature |
BlackBull Markets
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of BlackBull Markets and TopFX, it's clear that both brokers have their strengths and weaknesses. BlackBull Markets stands out with daily market commentary and has a sentiment-based trading tool, both appealing features for those looking for everyday insights. However, it misses out on forex news from top-tier agencies like Bloomberg or Reuters, which TopFX provides. Additionally, while both platforms offer technical analysis tools from Autochartist, TopFX further enhances its offerings with access to Trading Central tools, which BlackBull Markets lacks.
BlackBull Markets balances its offerings with an economic calendar, a feature also present at TopFX. Despite lacking some advanced research tools from companies like Acuity Trading and TipRanks, BlackBull Markets is considered stronger in research overall, rated with four stars and ranked 18th out of 63 brokers by ForexBrokers.com. In contrast, TopFX, rated with three stars and ranked 60th, demonstrates room for growth in this category.
| Feature |
BlackBull Markets
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing educational resources for beginners in online trading, BlackBull Markets stands out as a more comprehensive option than TopFX. BlackBull Markets provides an extensive array of learning materials, offering over ten educational pieces focused on forex and CFDs, which include articles, videos, and archived webinars. Furthermore, they hold monthly educational webinars that are accessible to all clients, coupled with a searchable archive of past webinars. Beginners can also benefit from at least ten videos specifically tailored to introduce trading concepts, along with a library of advanced educational materials for experienced traders. To aid newcomers, BlackBull Markets provides an investor dictionary with over 50 trading terms clarified. They are rated 4 stars for education and ranked 29th out of 63 brokers by ForexBrokers.com.
On the other hand, TopFX appears to lack a similar level of educational commitment. They do not meet the ten-piece minimum for educational content concentrated on forex and CFDs, nor do they offer regular webinars or archives for learning purposes. In terms of visual learning aids, TopFX falls short, lacking a dedicated set of beginner-friendly trading videos or advanced educational materials aimed at seasoned investors. Additionally, they do not provide an extensive glossary of investing terms. With a 3-star educational rating and placed 61st out of 63 brokers for education by ForexBrokers.com, TopFX seems less suitable for those seeking a rich educational experience in their trading journey.
| Feature |
BlackBull Markets
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | 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 TopFX. BlackBull Markets finished with an overall rank of #24, while TopFX finished with an overall rank of #62.
BlackBull Markets is a plain-vanilla MetaTrader broker with a growing range of products and support for a handful of third-party social copy trading platforms.
| Feature |
BlackBull Markets
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TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 78 | 67 |
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Both BlackBull Markets and TopFX do not provide the option to purchase actual (delivered) cryptocurrency, offering instead the ability to trade cryptocurrency derivatives.
While both BlackBull Markets and TopFX support Skrill, Visa or Mastercard, and bank wires for deposits and withdrawals, only TopFX offers PayPal as an option, with neither broker supporting ACH or SEPA transfers.
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 | TopFX | |
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| Trust Score | 78 | 67 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review | TopFX Review |
| Broker Screenshots | BlackBull Markets | TopFX | |
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| Regulation | BlackBull Markets | TopFX | |
|---|---|---|---|
| Trust Score | 78 | 67 | |
| Year Founded | 2014 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | BlackBull Markets | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | BlackBull Markets | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | BlackBull Markets | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 26000 | 655 | |
| Forex Pairs (Total) | 72 | 60 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.71 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.71 | 0.88 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | BlackBull Markets | TopFX | |
|---|---|---|---|
| Minimum Deposit | $0 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | BlackBull Markets | TopFX | |
|---|---|---|---|
| Proprietary Platform | No | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | BlackBull Markets | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 109 | 30 | |
| Charting - Drawing Tools (Total) | 60 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | BlackBull Markets | TopFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | BlackBull Markets | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | BlackBull Markets | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | BlackBull Markets | TopFX | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | BlackBull Markets Review | TopFX Review |
| Overall | BlackBull Markets | TopFX | |
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| Trust Score | 78 | 67 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review | TopFX Review |
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