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.
When comparing XM Group and BlackBull Markets, both brokers stand out for their long-standing presence in the industry and regulatory compliance. Founded in 2009, XM Group offers clients a sense of security with a high Trust Score of 93 out of 99, provided by ForexBrokers.com. It boasts an impressive four Tier-1 licenses, signifying it as highly trusted, alongside one Tier-2 license. Although it is not publicly traded or a bank, these credentials make XM Group a reliable choice for forex traders seeking stability and trust.
In contrast, New Zealand-based BlackBull Markets, established in 2014, has a Trust Score of 78, putting it in the average risk category. It holds one Tier-1 license, considered highly trusted, but lacks Tier-2 licensing. Similar to XM Group, it is neither publicly traded nor a bank, but it serves as a viable option for those who prioritize experience in the forex trading field. While BlackBull Markets offers a slightly higher risk profile than XM Group, its foundation and regulatory adherence offer peace of mind for traders.
| 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. XM Group’s Standard account has pricey spreads, and the broker doesn’t publish average spreads for its commission-based XM Zero account, making true costs harder to judge. For the Commissions and Fees category, XM Group is rated 4 out of 5 stars and ranked #34 out of 63 brokers.
BlackBull Markets’ pricing is about average overall, but its Prime account is competitive: the average EUR/USD spread was 0.16 pips in March 2024, with an all-in cost around 0.76 pips once the 0.3-pip per-side commission is included. BlackBull Markets earns 4.5 out of 5 stars and ranks #19 out of 63 for Commissions and Fees.
Account choice drives your costs at BlackBull: the Standard account is commission-free with no minimum deposit but comes with higher spreads; the Prime account requires $2,000 and charges $3 per side ($6 round turn) per lot while offering lower spreads; and the ECN Institutional account targets high-volume traders with at least $20,000, lowering commissions to $2 per side ($4 round turn). If you can meet the minimum, the Prime account is typically the more cost-effective path compared to Standard.
| Feature |
XM Group
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $5 | $0 |
| Average spread (EUR/USD) - Standard account | 1.6 | 0.71 |
| All-in Cost EUR/USD - Active | 0.8 | 0.71 |
| 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.
XM Group vs BlackBull Markets: both brokers let you trade forex (via CFDs/spot) and offer access to exchange-traded stocks on U.S. and international exchanges. Each supports copy trading. For breadth, BlackBull Markets stands out with about 26,000 tradeable symbols and 72 currency pairs, while XM Group lists 1,394 symbols and 55 pairs. Both brokers offer crypto via CFDs, but neither lets you buy actual, delivered cryptocurrency.
Reflecting that scale, BlackBull Markets earns 5 stars for Range of Investments and ranks #6 out of 63 brokers at ForexBrokers.com. XM Group earns a strong 4.5 stars and ranks #25. If you want the widest menu of markets, BlackBull Markets has the edge; if your needs are more focused, XM Group still covers a lot of ground with stocks, forex, and copy trading options.
| 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 line up closely on trading platforms and tools. Both offer free demo (paper) accounts, copy trading, and the ability to place trades directly from charts. Neither broker has its own proprietary platform; instead they support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), available on Windows desktop and through a web-based platform.
While the exact counts for technical indicators and watchlist fields aren’t specified, both brokers earn 4 out of 5 stars for Trading Platforms and Tools. In ForexBrokers.com’s ranking of 63 brokers, XM Group comes in at #33 and BlackBull Markets at #31. If you want a slight edge in category rank, BlackBull nudges ahead, but the platform lineup is very similar—making factors like fees, markets offered, and add-ons worth comparing next.
| 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 mobile trading apps, both XM Group and BlackBull Markets check the key boxes: iPhone and Android support, price alerts for forex and stocks, and watchlist syncing so your symbols line up across mobile and web. Each app offers 30 technical studies for charting and lets you draw trendlines, making it easy to analyze markets on the go.
The main difference is chart annotation handling: BlackBull Markets automatically saves your drawings, while XM Group does not. Both earn 4 out of 5 stars for Mobile Trading Apps. In ForexBrokers.com’s rankings out of 63 brokers, XM Group sits at #31 and BlackBull Markets at #33. If auto-saving chart drawings matters, BlackBull Markets has the edge; if you value a slightly higher category ranking, XM Group may appeal. Either way, both apps deliver strong, feature-rich mobile trading.
| 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.
Both XM Group and BlackBull Markets provide traders with daily market commentary, ensuring that clients are well-informed about current market conditions. However, when it comes to sourcing forex news from renowned outlets like Bloomberg, Reuters, and Dow Jones, only XM Group offers this service, giving them an edge in providing comprehensive market updates. Additionally, XM Group integrates Technical Analytics from Trading Central into its offerings, while BlackBull Markets lacks this partnership. On the other hand, BlackBull Markets benefits from having research tools such as Autochartist, which XM Group does not offer. Both brokers equip traders with sentiment-based trading tools and economic calendars, helping users make informed decisions. Neither broker offers tools from TipRanks or Acuity Trading, ensuring each offers a focused set of features for research.
When evaluating their market research offerings, XM Group stands out with a 5-star rating, reflecting its superior resources and tools, whereas BlackBull Markets holds a respectable 4-star rating. In a broader comparison among 63 brokers by ForexBrokers.com, XM Group is ranked 8th for research, showcasing its strong market position. BlackBull Markets is ranked 18th, still within the top tier but trailing behind XM Group in terms of overall research capabilities. Thus, while both brokers provide valuable resources, XM Group offers a slightly more extensive suite of research tools to support informed trading strategies.
| 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.
New to forex and CFDs? Both XM Group and BlackBull Markets offer beginner-friendly education that goes beyond the basics. Each provides at least 10 videos aimed at newcomers, plus another 10 or more for advanced concepts when you’re ready to level up. You’ll also find monthly client webinars, along with on-demand materials like articles and archived sessions to learn at your own pace.
The main difference is overall quality and breadth. XM Group earns 5 stars for Education and ranks #7 out of 63 brokers on ForexBrokers.com, making it a great pick if top-tier learning tools are a priority. BlackBull Markets is rated 4 stars and ranks #29 out of 63, still offering a solid pathway from beginner lessons to advanced topics, supported by regular webinars.
| 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 #17, while BlackBull Markets finished with an overall rank of #24.
XM Group is a MetaTrader-only broker that offers a strong selection of high-quality educational content and market research.
| Feature |
XM Group
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BlackBull Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 78 |
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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 | 78 | |
| 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 | 78 | |
| 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 | 1.6 | 0.71 | |
| All-in Cost EUR/USD - Active | 0.8 | 0.71 | |
| 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 | 78 | |
| Winner | check_circle | ||
| Review | XM Group Review | BlackBull Markets Review |
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