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 generally offers better value than XM Group. XM Group earns 3.5 out of 5 stars and ranks #34 out of 36 brokers for commissions and fees, with standard account spreads that are considered expensive and no published average spreads for its commission-based XM Zero account. BlackBull Markets scores 4.5 out of 5 stars and ranks #9 out of 36, with trading costs that are about average for the industry and that vary by account type.
At BlackBull Markets, the Standard account is commission-free and has no minimum deposit, but its spreads are wider. The Prime account is often the better choice for active traders, with an average EUR/USD spread of 0.16 based on March 2024 data and an all-in cost of 0.76 after commission, though it requires a $2,000 minimum deposit and charges $3 per side, or $6 round turn per lot. For more advanced traders, the ECN Institutional account requires at least $20,000 and charges $2 per side, or $4 round turn per lot.
Overall, XM Group may suit traders who want a simple setup, but its pricing is less competitive. BlackBull Markets offers more account choices and, especially on its Prime and ECN Institutional accounts, lower trading costs that may appeal to more cost-conscious or high-volume traders.
| 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 | 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 a wide mix of investment choices, including forex trading, U.S. and international exchange-traded shares, copy trading, and cryptocurrency CFDs. Neither broker lets clients buy actual, delivered crypto, but both do support crypto trading through CFDs. XM Group offers 1,429 tradeable symbols and 55 forex pairs, while BlackBull Markets provides a much larger selection with 26,000 tradeable symbols and 72 forex pairs, making it the more varied option overall.
In terms of range of investments, BlackBull Markets has the edge for breadth and has been rated 5 out of 5 stars, ranking #7 out of 36 brokers by ForexBrokers.com. XM Group is still competitive, with a 4.5-star rating and a #19 ranking, but it offers a smaller market selection. For traders who want more asset choice, BlackBull Markets stands out, while XM Group may suit those looking for a solid but more limited list of available investments.
| Feature |
XM Group
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1429 | 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 are closely matched when it comes to trading platforms and tools. Both brokers offer a free demo account for practice, plus access to MetaTrader 4 (MT4), MetaTrader 5 (MT5), Windows desktop platforms, web-based trading, copy trading, and the ability to trade directly from charts. Neither broker has its own in-house platform, so traders at both firms rely on well-known third-party tools instead.
For traders comparing platform quality, both XM Group and BlackBull Markets are rated 4 out of 5 stars for Trading Platforms and Tools. On ForexBrokers.com, BlackBull Markets ranks slightly higher at #25 out of 36 brokers, while XM Group comes in at #27. In simple terms, both are strong choices for everyday trading, but BlackBull Markets has a small edge in the category ranking.
| 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.
XM Group and BlackBull Markets both offer mobile trading apps for iPhone and Android, along with stock and forex price alerts and watchlist syncing between mobile and online accounts. Each app also includes 30 technical studies for charting and lets traders draw trendlines, making both platforms useful for managing trades on the go. In ForexBrokers.com’s Mobile Trading Apps category, both brokers are rated 4 out of 5 stars, with XM Group ranked #26 out of 36 brokers and BlackBull Markets ranked #27.
One key difference is that BlackBull Markets’ mobile app automatically saves chart drawings, while XM Group’s app does not. For traders who like to mark up charts and keep those edits saved on mobile, that may give BlackBull Markets a small edge. Still, for most everyday mobile trading needs, XM Group and BlackBull Markets are closely matched in app features and overall ratings.
| 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.
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.
When it comes to education for beginners, XM Group and BlackBull Markets both offer a wide range of learning tools, including forex and CFD education, monthly online webinars, and at least 10 beginner videos as well as 10 advanced videos. That means new traders can find help with the basics at either broker, from simple trading concepts to more advanced topics. For learners who want regular guidance, both brokers also provide ongoing webinar access, which can be useful for asking questions and staying up to date.
Even so, XM Group has the edge overall for education. It is rated 5 stars for Education and ranks #5 out of 36 brokers by ForexBrokers.com, while BlackBull Markets is rated 4.5 stars and ranks #24. In plain terms, both brokers are beginner-friendly, but XM Group appears to offer a stronger educational experience with a higher quality rating and a better category ranking.
| 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 |
|
|
| Trust Score | 93 | 77 |
| Range of Investments |
|
|
| Trading Fees |
|
|
| Trading Platforms |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | XM Group | BlackBull Markets | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 77 | |
| Winner | check_circle | ||
| Review | XM Group Review | BlackBull Markets Review |
| Broker Screenshots | XM Group | BlackBull Markets | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| 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) | 1429 | 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 | 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) | 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 77 | |
| Winner | check_circle | ||
| Review | XM Group Review | BlackBull Markets Review |
IG
FOREX.com
CMC Markets
XTB
eToro
AvaTrade
Pepperstone
FP Markets
Tickmill