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 | 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.
Comparing XM Group vs BlackBull Markets on range of investments, BlackBull offers far more choice with about 26,000 tradeable symbols, while XM Group lists around 1,394. BlackBull also edges out XM in forex pairs (72 vs 55). Both brokers support forex trading (with contracts available as CFDs or spot), provide access to exchange‑traded securities on U.S. markets like the NASDAQ and to international shares, and include copy trading. Crypto buyers should note that neither broker offers actual, delivered cryptocurrencies; however, both provide cryptocurrency derivatives.
Ratings reflect these differences: XM Group earns 4.5/5 stars and ranks 25th out of 63 brokers for Range of Investments, while BlackBull Markets scores 5/5 stars and ranks 6th. In short, choose BlackBull if you want the widest selection of symbols and slightly more forex pairs; pick XM if you’re comfortable with a smaller but comprehensive lineup that still includes U.S. and international stocks, copy trading, and crypto derivatives.
| Feature |
XM Group
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1394 | 26000 |
| Forex Pairs (Total) | 55 | 72 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | 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.
XM Group and BlackBull Markets both deliver familiar trading platforms and tools. Each offers a free demo account for paper trading, 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 proprietary platform, so you’ll use the widely known MetaTrader suite. Copy trading is available with both, and you can place trades directly from charts, which helps with quick entries and exits.
For Trading Platforms and Tools, both brokers earn 4 out of 5 stars. In ForexBrokers.com’s review of 63 brokers, XM Group ranks #33 while BlackBull Markets ranks #31, giving BlackBull a slight edge in this category. Since their platform lineups are very similar, your choice may come down to other needs like pricing, markets, or add-ons you prefer inside MT4/MT5.
| 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 |
| Social Trading / 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.
XM Group and BlackBull Markets both deliver mobile trading apps for iPhone and Android. Each app supports price alerts, real-time quotes in watchlists, and watchlist syncing across devices and the web—so changes you make on one device appear everywhere. This makes it easy to track forex and other markets on the go without losing your place.
For charting, both apps include 30 technical studies and let you draw trendlines. One key difference: BlackBull Markets auto-saves chart drawings, while XM Group does not. In terms of quality scores, both earn 4 out of 5 stars for their mobile trading apps. According to ForexBrokers.com, XM Group ranks #31 out of 63 brokers for Mobile Trading Apps, while BlackBull Markets ranks #33.
| 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 |
| Mobile Watchlist | Yes | 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 | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing education for beginners: XM Group vs BlackBull Markets. Both brokers host online educational webinars at least once a month and offer at least 10 beginner video lessons, plus 10 or more advanced videos for when you are ready to go deeper. This mix helps new traders build confidence and keep learning through regular live sessions and structured video content.
What is not specified is whether either broker provides a wider forex/CFD education library that meets a 10+ piece threshold beyond videos, a searchable archive of recorded webinars, or an investor dictionary with 50+ terms. Based on independent ratings, XM Group leads for education (5 stars; ranked #7 of 63 by ForexBrokers.com), while BlackBull Markets trails slightly (4 stars; ranked #29). If education quality is your priority, XM Group has the edge for beginners.
| 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
|
BlackBull Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 78 |
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While both XM Group and BlackBull Markets do not provide options for purchasing actual delivered cryptocurrency, they both offer the ability to trade cryptocurrency derivatives.
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 (SFC 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. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | 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 | XM Group | BlackBull Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 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 | |
| Social Trading / 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 | 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 | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | XM Group | BlackBull Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | 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 | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| 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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