Written by ForexBrokers.com
In this head to head comparison of XM Group vs BlackBull Markets, 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.
XM Group (founded 2009) and BlackBull Markets (founded 2014) are online brokers that are not publicly traded and are not banks. According to ForexBrokers.com’s Trust Score (out of 99), XM Group scores 93 (highly trusted) while BlackBull Markets scores 77 (average risk). For context, ForexBrokers.com rates 90–99 as highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and below 59 not trusted.
On regulation, XM Group holds 4 Tier-1 licenses (considered highly trusted by ForexBrokers.com) and 1 Tier-2 license (trusted). BlackBull Markets holds 1 Tier-1 license and 0 Tier-2 licenses. This licensing profile aligns with their Trust Scores, with XM Group offering broader top-tier coverage and BlackBull Markets maintaining a single top-tier authorization.
| Feature |
XM Group
|
BlackBull Markets
|
|---|---|---|
| Year Founded | 2009 | 2014 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
Comparing commissions and fees, BlackBull Markets generally offers better value than XM Group. BlackBull earns 4.5 out of 5 stars and ranks #9 out of 63 brokers for Commissions and Fees at ForexBrokers.com, while XM Group scores 3.5 out of 5 stars and ranks #34 out of 63. In short, BlackBull’s pricing is about average for the industry but can be very competitive on its Prime account, whereas XM’s pricing is held back by pricier Standard spreads and limited transparency on its commission-based option.
XM Group: The Standard account’s spreads are on the high side, which can raise your overall trading costs. XM also doesn’t publish average spreads for its commission-based XM Zero account, making it hard to compare all-in costs. That lack of clarity, coupled with its higher Standard pricing, contributes to XM Group’s 3.5-star rating and #34 ranking for commissions and fees.
BlackBull Markets: Pricing varies by account type. The Standard account is commission-free with no minimum deposit but comes with higher spreads. The Prime account requires a $2,000 minimum deposit and charges $3 per side ($6 round turn) per lot; in March 2024, its average EUR/USD spread was 0.16 pips, for an all-in cost of about 0.76 pips after a 0.3-pip per-side commission—making it the stronger value versus Standard if you qualify. For high-volume traders, the ECN Institutional account needs at least $20,000 and lowers commissions to $2 per side ($4 round turn). These options help explain BlackBull’s 4.5-star rating and #9 ranking for commissions and fees.
| Feature |
XM Group
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $5 | $0 |
| Average spread (EUR/USD) - Standard account | 2 | 1.16 |
| All-in Cost EUR/USD - Active | N/A | 0.76 |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing the range of investments at XM Group vs BlackBull Markets, BlackBull stands out for sheer variety with about 26,000 tradeable symbols and 72 forex pairs, while XM Group lists 1,394 symbols and 55 forex pairs. That depth helps explain BlackBull’s 5-star rating and #7 rank (out of 63) for Range of Investments, whereas XM Group earns a strong 4.5-star rating and ranks #19. In short, both are well-equipped, but BlackBull offers a broader catalog for those who want more markets and pairs to choose from.
Both brokers provide forex trading (CFD or spot), support copy trading, and let clients buy exchange-traded securities on U.S. and international exchanges. For crypto, neither broker lets you buy actual coins, but both offer cryptocurrency CFDs. If you’re focused on access to the widest selection of markets, BlackBull Markets has the edge; if you want plenty of choices with a simpler lineup, XM Group remains a compelling option.
| Feature |
XM Group
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1394 | 26000 |
| Forex Pairs (Total) | 55 | 72 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | Yes | Yes |
| 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.
XM Group and BlackBull Markets both check the key platform boxes for most traders. Each broker offers a free demo (paper trading) account, supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), and provides both a Windows desktop download and a web-based platform. Neither broker has its own in-house platform, but both enable copy trading and let you place orders directly from charts—handy for timing entries without switching screens.
For trading platforms and tools, both are rated 4 out of 5 stars. ForexBrokers.com ranks BlackBull Markets slightly higher (#25 of 63) than XM Group (#27 of 63). With such similar platform lineups, your choice may come down to other factors like pricing, the markets you want to trade, or the add-ons and integrations you prefer.
| Feature |
XM Group
|
BlackBull Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 30 | 109 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Comparing XM Group vs BlackBull Markets for mobile trading, both brokers offer iPhone and Android apps with price alerts, synced watchlists between mobile and web, and strong charting. Each app includes 30 technical studies and lets you draw trendlines, covering the core tools most traders need on the go.
The main difference is chart annotation storage: BlackBull Markets auto-saves your drawings, while XM Group does not. In our ratings snapshot, both earn 4 out of 5 stars for Mobile Trading Apps. According to ForexBrokers.com’s rankings out of 63 brokers, XM Group sits at #26 and BlackBull Markets at #27. If saving chart markups matters to your workflow, BlackBull has the edge; otherwise, the two are closely matched on features.
| Feature |
XM Group
|
BlackBull Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | No | Yes |
Dive deeper: Best Forex Trading Apps.
For market research, XM Group edges out BlackBull Markets. XM earns 5 stars and ranks #8 out of 63 brokers at ForexBrokers.com, while BlackBull scores 4.5 stars and ranks #16. Both brokers provide daily market commentary, an economic calendar, and sentiment tools that show the ratio of long and short positions. XM goes further with premium forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones—coverage BlackBull doesn’t include.
Their research toolsets take different paths. BlackBull offers Autochartist for chart patterns and trade ideas, whereas XM includes Trading Central for technical and fundamental analysis. Neither broker features TipRanks or Acuity Trading. If you want premium news feeds and Trading Central analysis, XM is the better fit; if you prefer Autochartist-driven ideas, BlackBull appeals. Both are solid options, with XM holding the higher independent rating.
| Feature |
XM Group
|
BlackBull Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing XM Group vs BlackBull Markets for beginner education: both brokers provide forex and CFD education with at least 10 learning pieces, and each offers at least 10 beginner videos plus 10 advanced videos. New traders also get ongoing support through online client webinars held at least once per month, making it easier to learn the basics and then move into more complex topics.
The key difference is quality and recognition. XM Group earns 5 stars for Education and ranks #5 out of 63 brokers on ForexBrokers.com, while BlackBull Markets earns 4.5 stars and ranks #24. Both are good choices for learning, but XM Group has the edge for overall breadth and polish of its educational content.
| Feature |
XM Group
|
BlackBull Markets
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that XM Group is better than BlackBull Markets. XM Group finished with an overall rank of #16, while BlackBull Markets finished with an overall rank of #22.
XM Group is a MetaTrader-only broker that offers a strong selection of high-quality educational content and market research.
| Feature |
XM Group
|
BlackBull Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 77 |
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XM Group vs BlackBull Markets: both online brokers do not support buying actual (delivered) cryptocurrencies, but each offers cryptocurrency CFD trading.
XM Group vs BlackBull Markets: both brokers do not support ACH or SEPA transfers or PayPal, both support Skrill and bank wire transfers, and Visa/Mastercard availability is not specified for either broker.
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 | XM Group | BlackBull Markets | |
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| Trust Score | 93 | 77 | |
| Winner | check_circle | ||
| Review | XM Group Review | BlackBull Markets Review |
| Broker Screenshots | XM Group | BlackBull Markets | |
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| Regulation | XM Group | BlackBull Markets | |
|---|---|---|---|
| Trust Score | 93 | 77 | |
| Year Founded | 2009 | 2014 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 4 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | XM Group | BlackBull Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | 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 | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | XM Group | BlackBull Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | XM Group | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1394 | 26000 | |
| Forex Pairs (Total) | 55 | 72 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| 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 | XM Group | BlackBull Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 2 | 1.16 | |
| All-in Cost EUR/USD - Active | N/A | 0.76 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | XM Group | BlackBull Markets | |
|---|---|---|---|
| Minimum Deposit | $5 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | XM Group | BlackBull Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | Yes |
| Trading Tools | XM Group | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 109 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | XM Group | BlackBull Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | No | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | XM Group | BlackBull Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central | Yes | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | XM Group | BlackBull Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | XM Group | BlackBull Markets | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | XM Group Review | BlackBull Markets Review |
| Overall | XM Group | BlackBull Markets | |
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| Trust Score | 93 | 77 | |
| Winner | check_circle | ||
| Review | XM Group Review | BlackBull Markets Review |
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