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BlackBull Markets vs FXOpen 2023

BrokerNotes.co

Written by BrokerNotes.co

January 31, 2023

Trying to decide between BlackBull Markets and FXOpen? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, BlackBull Markets ranks more highly than FXOpen.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% 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.
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Overall RatingBlackBull MarketsFXOpen
Overall Rating 7.9 / 10 7 / 10
Account TypeBlackBull MarketsFXOpen
Standard Trade Size (100,000 units) Yes Yes
Mini Trade Size (10,000 units) Yes Yes
Micro Trade Size (1,000 units) Yes Yes
Islamic Account Yes Yes
Copy TradingBlackBull MarketsFXOpen
Social Trading / Copy Trading Yes Yes
DupliTrade No No
ZuluTrade Yes Yes
CryptocurrencyBlackBull MarketsFXOpen
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin No Yes
ethereum No Yes
Forex Trading (Spot or CFDs)BlackBull MarketsFXOpen
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)BlackBull MarketsFXOpen
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsBlackBull MarketsFXOpen
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting No No
Social Trading / Copy Trading Yes Yes
Metals Yes Yes
Energies Yes Yes
Agriculturals Yes No
ETF No Yes
U.S. Stocks (CFD) Yes Yes
Trading PlatformsBlackBull MarketsFXOpen
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform No No
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) Yes Yes
Regulatory LicensesBlackBull MarketsFXOpen
Tier-1 Licenses 1 2
ASIC Authorised (Australia) No Yes
IIROC Authorised (Canada) No No
FCA Authorised (U.K.) No Yes
SFC Authorised (Hong Kong) No No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
CFTC Registered (USA) No No
Tier-2 Licenses 0 1
Tier-3 Licenses 0 0
Research, EducationBlackBull MarketsFXOpen
Trading Central (Recognia) No No
Forex News (Top-Tier Sources) No Yes
Daily Market Commentary Yes Yes
Autochartist Yes No
Investor Dictionary (Glossary) Yes Yes
Videos - Beginner Trading Videos Yes No
Client Webinars (Archived) Yes No
Trading CostsBlackBull MarketsFXOpen
Minimum Initial Deposit $0 $100
Average Spread EUR/USD - Standard 0.827 (August 2022) N/A
All-in Cost EUR/USD - Active 0.827 (August 2022) N/A
Active Trader or VIP Discounts Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) No No
Trading ToolsBlackBull MarketsFXOpen
Watchlists - Total Fields 7 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 30 30
Mobile Charting - Indicators / Studies 30 30
Trust FactorsBlackBull MarketsFXOpen
Year Founded 2014 2003
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union No info Yes info
Trust Score 74 80
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BlackBull Markets vs FXOpen Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare BlackBull Markets vs FXOpen.

Can I trust BlackBull Markets?

BlackBull Markets has a trust score of 74, giving it a "Average Risk" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.

Can I trust FXOpen?

FXOpen has a trust score of 80, giving it a "Trusted" trust label.

Is BlackBull Markets a good broker?

BlackBull Markets is an up and coming MetaTrader broker that offers share trading, CFDs, as well as a growing range of markets from its brands regulated in New Zealand and the Seychelles. However, BlackBull Markets' thin educational materials and sparse market research put it behind the best forex brokers in those categories.

Is FXOpen a good broker?

FXOpen is a plain vanilla MetaTrader broker that also offers the TickTrader platform. With less than 50 markets available to trade, and a limited selection of educational materials, FXOpen simply can't compete with the best forex brokers.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. BlackBull Markets is FMA Authorised (New Zealand), while FXOpen is ASIC Authorised (Australia) and FCA Authorised (U.K.)., neither have IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FINMA Authorised (Switzerland) and CFTC Registered (USA)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, BlackBull Markets is none, while FXOpen is CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses unfortunately, neither BlackBull Markets nor FXOpen are SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu)., neither have VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms BlackBull Markets supports a Desktop Platform (Windows), cTrader and ZuluTrade, whereas FXOpen supports a Desktop Platform (Windows) and ZuluTrade., neither have Proprietary Platform and DupliTrade

Does BlackBull Markets offer MetaTrader? Does FXOpen offer MetaTrader?

Both BlackBull Markets and FXOpen offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.

How do BlackBull Markets and FXOpen differ in terms of minimum deposit? What about average spreads and funding options?

BlackBull Markets requires a minimum deposit of $0, while FXOpen requires a minimum deposit of $100. From our testing we found BlackBull Markets offers spreads of 0.827 (August 2022), while FXOpen offers spreads of N/A. Both BlackBull Markets and FXOpen offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits., neither have PayPal (Deposit/Withdraw)

Which brokers offers more tradeable asset classes, BlackBull Markets or FXOpen?

BlackBull Markets offers a more diverse selection of investment options than FXOpen allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, BlackBull Markets has 26000, compared to 87 from FXOpen.

Can I trade cryptocurrency with BlackBull Markets or FXOpen?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither BlackBull Markets nor FXOpen allow you to trade physical cryptocurrencies.

Who offers more research tools, BlackBull Markets or FXOpen?

In terms of research and research tools BlackBull Markets gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts and Social Trading / Copy Trading. In comparison FXOpen has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading., neither have Trading Central (Recognia)

Broker Reviews

Still looking for more information, read our broker reviews.

BlackBull Markets Review

FXOpen Review

Overall winner: BlackBull Markets

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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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