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IC Markets vs BlackBull Markets 2023

BrokerNotes.co

Written by BrokerNotes.co

January 31, 2023

Trying to decide between IC Markets and BlackBull Markets? 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, IC Markets ranks more highly than BlackBull Markets.

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 RatingIC MarketsBlackBull Markets
Overall Rating 8.2 / 10 7.9 / 10
Account TypeIC MarketsBlackBull Markets
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 TradingIC MarketsBlackBull Markets
Social Trading / Copy Trading Yes Yes
DupliTrade No No
ZuluTrade Yes Yes
CryptocurrencyIC MarketsBlackBull Markets
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin Yes No
ethereum Yes No
Forex Trading (Spot or CFDs)IC MarketsBlackBull Markets
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)IC MarketsBlackBull Markets
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsIC MarketsBlackBull Markets
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 Yes
ETF Yes No
U.S. Stocks (CFD) Yes Yes
Trading PlatformsIC MarketsBlackBull Markets
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 LicensesIC MarketsBlackBull Markets
Tier-1 Licenses 1 1
ASIC Authorised (Australia) Yes No
IIROC Authorised (Canada) No No
FCA Authorised (U.K.) No No
SFC Authorised (Hong Kong) No No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
CFTC Registered (USA) No No
Tier-2 Licenses 1 0
Tier-3 Licenses 1 0
Research, EducationIC MarketsBlackBull Markets
Trading Central (Recognia) Yes No
Forex News (Top-Tier Sources) Yes No
Daily Market Commentary Yes Yes
Autochartist Yes Yes
Investor Dictionary (Glossary) Yes Yes
Videos - Beginner Trading Videos No Yes
Client Webinars (Archived) Yes Yes
Trading CostsIC MarketsBlackBull Markets
Minimum Initial Deposit $200 $0
Average Spread EUR/USD - Standard 0.62 (August 2022) 0.827 (August 2022)
All-in Cost EUR/USD - Active 0.62 (August 2022) 0.827 (August 2022)
Active Trader or VIP Discounts Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) Yes No
Trading ToolsIC MarketsBlackBull Markets
Watchlists - Total Fields 7 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 30 30
Mobile Charting - Indicators / Studies 30 30
Trust FactorsIC MarketsBlackBull Markets
Year Founded 2007 2014
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union No info No info
Trust Score 86 74
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IC Markets vs BlackBull Markets 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 IC Markets vs BlackBull Markets.

Can I trust IC Markets?

IC Markets has a trust score of 86, giving it a "Trusted" 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 BlackBull Markets?

BlackBull Markets has a trust score of 74, giving it a "Average Risk" trust label.

Is IC Markets a good broker?

IC Markets' combination of low spreads and commissions, as well as its supportive execution policies that accomodate algorithmic traders make it our pick for the best MetaTrader broker. In addition, IC Markets recently bolstered its range of markets, sending the total available to over 3,000. It's worth noting, however, that its reserach and educational offerings still have lots of room to improve.

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.

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. IC Markets is ASIC Authorised (Australia), while BlackBull Markets is FMA Authorised (New Zealand)., neither have IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FINMA Authorised (Switzerland), FCA Authorised (U.K.) 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, IC Markets is CySEC Authorised (Cyprus), while BlackBull Markets is none., 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 IC Markets is SCB Authorised (Bahamas), while BlackBull Markets is none., neither have IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

Both IC Markets and BlackBull Markets offer a Desktop Platform (Windows), cTrader and ZuluTrade., neither have Proprietary Platform and DupliTrade

Does IC Markets offer MetaTrader? Does BlackBull Markets offer MetaTrader?

Both IC Markets and BlackBull Markets 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 IC Markets and BlackBull Markets differ in terms of minimum deposit? What about average spreads and funding options?

IC Markets requires a minimum deposit of $200, while BlackBull Markets requires a minimum deposit of $0. From our testing we found IC Markets offers spreads of 0.62 (August 2022), while BlackBull Markets offers spreads of 0.827 (August 2022). IC Markets supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for popular funding options, where BlackBull Markets supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).

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

IC Markets offers a more diverse selection of investment options than BlackBull Markets allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, IC Markets has 3583, compared to 26000 from BlackBull Markets.

Can I trade cryptocurrency with IC Markets or BlackBull Markets?

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 IC Markets nor BlackBull Markets allow you to trade physical cryptocurrencies.

Who offers more research tools, IC Markets or BlackBull Markets?

In terms of research and research tools IC Markets gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison BlackBull Markets has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts and Social Trading / Copy Trading.

Broker Reviews

Still looking for more information, read our broker reviews.

IC Markets Review

BlackBull Markets Review

Overall winner: IC Markets

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announcementPlease 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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