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 vs BlackBull Markets: XM Group was founded in 2009, is not publicly traded, and is not a bank. It holds 4 Tier-1 licenses (considered highly trusted) and 3 Tier-2 licenses (trusted). XM Group’s ForexBrokers.com Trust Score is 93/99, placing it in the highly trusted category.
BlackBull Markets was founded in 2014, is not publicly traded, and is not a bank. It holds 1 Tier-1 license and no Tier-2 licenses. BlackBull Markets’ ForexBrokers.com Trust Score is 77/99, which is classified as average risk. Overall, XM Group shows a broader regulatory footprint and higher trust rating, while BlackBull Markets has a leaner licensing profile.
| 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 | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When it comes to commissions and fees, BlackBull Markets comes out ahead of XM Group. XM Group is rated 3.5 out of 5 stars and ranks #36 out of 36 brokers for this category. Its standard account spreads are expensive, and average spreads for the commission-based XM Zero account are not published, which makes it harder for traders to compare total trading costs upfront.
BlackBull Markets is rated 4.5 out of 5 stars and ranks #9 out of 36 for commissions and fees. Its trading costs are about average for the industry and depend on the account you choose. The Standard account is commission-free with no minimum deposit, but spreads are higher. The Prime account has lower spreads, with an average EUR/USD spread of 0.16 and an all-in cost of 0.76 after commission, but it requires a $2,000 deposit. For active traders, the ECN Institutional account offers even lower commissions, though it needs a $20,000 deposit.
Overall, BlackBull Markets offers clearer and more competitive pricing than XM Group, especially for traders who want lower spreads and are willing to meet higher minimum deposit requirements. XM Group may still appeal to traders who prefer a simple account setup, but its costs are less attractive in this comparison.
| Feature |
XM Group
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $5 | $0 |
| Average spread (EUR/USD) - Spread-only account | 1.1 | 1 |
| All-in Cost EUR/USD - Raw spread account | 0.7+ | 0.70 |
| Non-wire bank transfer (Deposit/Withdraw) | No | Yes |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
XM Group and BlackBull Markets both give traders access to forex as CFDs or spot contracts, along with exchange-traded shares on U.S. and international markets, copy trading, and cryptocurrency CFDs. Neither broker lets clients buy delivered crypto directly. That means both platforms cover the basics well for traders who want to build a portfolio with forex, shares, and crypto exposure through CFDs.
Where they differ most is in size and variety. XM Group offers 1,583 tradeable symbols and 54 forex pairs, while BlackBull Markets lists a much larger 26,000 symbols and 72 forex pairs. In ForexBrokers.com’s Range of Investments category, XM Group is rated 4.5 out of 5 stars and ranked 19th out of 36 brokers, while BlackBull Markets earns 5 stars and ranks 7th, making it the stronger pick for traders who want the widest selection.
| Feature |
XM Group
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1583 | 26000 |
| Forex Pairs (Total) | 54 | 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 are closely matched when it comes to trading platforms and tools. Both brokers offer a free demo account for paper trading, plus access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Each one also supports a Windows desktop platform, a web-based platform, copy trading, and the ability to place trades directly from charts. Neither broker offers its own in-house platform, so traders mainly rely on the well-known third-party tools they provide.
In terms of trading platform ratings, both XM Group and BlackBull Markets earn 4 out of 5 stars, showing that each offers a solid trading setup for most users. Still, BlackBull Markets holds a slight edge in ForexBrokers.com’s Trading Platforms and Tools category, ranking #26 out of 36 brokers compared with XM Group at #29. If you want a broker with familiar platform choices and a good mix of trading tools, both are strong options.
| 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) | 100 | 109 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
XM Group and BlackBull Markets both offer mobile trading apps for iPhone and Android, along with stock or forex price alerts and watchlist syncing between the app and the online account. Each broker also lets you draw trend lines on charts, making it easier to follow price moves on the go. In ForexBrokers.com’s Mobile Trading Apps ratings, both brokers earn 4 out of 5 stars, so they are evenly matched in overall app quality.
The main difference is charting depth. XM Group gives mobile users access to 100 technical studies, compared with 30 at BlackBull Markets, which may appeal to traders who want more tools for market analysis. On the other hand, BlackBull Markets can automatically save chart drawings in the app, while XM Group cannot. In ForexBrokers.com’s ranking out of 36 brokers, XM Group places slightly higher at #26, while BlackBull Markets ranks #29.
| 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 | 100 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | No | Yes |
Dive deeper: Best Forex Trading Apps.
XM Group and BlackBull Markets both give traders daily market commentary, a sentiment tool for seeing long and short position ratios, and an economic calendar that tracks key global news events. Both brokers also keep their clients updated with useful market context, but XM Group goes further for forex research because it includes news from top-tier sources such as Bloomberg, Reuters, and Dow Jones.
When it comes to research tools, the two brokers take different paths. BlackBull Markets offers Autochartist, while XM Group does not; on the other hand, XM Group includes Trading Central tools such as Technical Analytics, which BlackBull Markets does not. Neither broker offers TipRanks or Acuity Trading research. Overall, XM Group scores higher for market research, with a 5-star rating and an #8 ranking out of 36 brokers by ForexBrokers.com, compared with BlackBull Markets’ 4.5-star rating and #17 ranking.
| 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.
For beginners looking for trading education, both XM Group and BlackBull Markets offer a wide range of learning material. Each broker provides forex and CFD education with at least 10 pieces of content, along with monthly educational webinars, 10 or more beginner videos, and 10 or more advanced videos for traders who want to keep learning as they gain experience. This makes both platforms a solid starting point for new traders who want to build knowledge through articles, videos, and live sessions.
That said, XM Group stands out more strongly in the education category. It earns a perfect 5-star rating for Education and is ranked #5 out of 36 brokers by ForexBrokers.com, while BlackBull Markets is rated 4.5 stars and ranked #25. For beginners comparing online brokers, XM Group appears to offer the stronger overall educational experience, though BlackBull Markets still provides plenty of useful learning resources.
| 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 multi-regulated forex and CFD broker offering 1,583 tradeable symbols across MetaTrader 4 and 5 and a new proprietary web and mobile platform. Its live trading rooms and integrated Trading Central research are among the best in the industry. Standard account spreads are expensive, though the Ultra Low and Zero accounts are competitive.
| 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.
In the XM Group vs BlackBull Markets comparison, XM Group supports Skrill and bank wire transfers but not ACH/SEPA or PayPal, whereas BlackBull Markets supports ACH/SEPA, Skrill, and bank wire transfers but not PayPal.
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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| Broker Gallery (click to expand) |
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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 | 3 | 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) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or CMA 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) | 1583 | 26000 | |
| Forex Pairs (Total) | 54 | 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) - Spread-only account | 1.1 | 1 | |
| All-in Cost EUR/USD - Raw spread account | 0.7+ | 0.70 | |
| 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 (Deposit/Withdraw) | No | Yes |
| 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) | 100 | 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 Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 100 | 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 | |
|---|---|---|---|
| EUR/USD | Yes | Yes | |
| 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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