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BlackBull Markets vs IronFX 2023

BrokerNotes.co

Written by BrokerNotes.co

March 14, 2023

Trying to decide between BlackBull Markets and IronFX? Weโ€™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 IronFX.

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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Compare

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Overall RatingBlackBull MarketsIronFX
Overall Rating 7.9 / 10 7.2 / 10
Account TypeBlackBull MarketsIronFX
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 No
Copy TradingBlackBull MarketsIronFX
Social Trading / Copy Trading Yes Yes
DupliTrade No No
ZuluTrade Yes No
CryptocurrencyBlackBull MarketsIronFX
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin No Yes
ethereum No Yes
Forex Trading (Spot or CFDs)BlackBull MarketsIronFX
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)BlackBull MarketsIronFX
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsBlackBull MarketsIronFX
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 Yes No
U.S. Stocks (CFD) Yes Yes
Trading PlatformsBlackBull MarketsIronFX
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 No
Regulatory LicensesBlackBull MarketsIronFX
Tier-1 Licenses 1 2
Australia (ASIC Authorised) No Yes
Canada (SRO Authorised) No No
United Kingdom (U.K.) (FCA Authorised) No Yes
Hong Kong (SFC Authorised) No No
Singapore (MAS Authorised) No No
Switzerland (FINMA Authorised) No No
USA (CFTC Authorized) No No
Tier-2 Licenses 0 1
Tier-3 Licenses 0 1
Research, EducationBlackBull MarketsIronFX
Trading Central (Recognia) No Yes
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 Yes
Client Webinars (Archived) Yes Yes
Trading CostsBlackBull MarketsIronFX
Minimum Deposit $0 $50
Average Spread EUR/USD - Standard 0.827 info 1.2
All-in Cost EUR/USD - Active 0.827 info 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 MarketsIronFX
Watchlists - Total Fields 7 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 30 30
Mobile Charting - Indicators / Studies 30 30
Trust FactorsBlackBull MarketsIronFX
Year Founded 2014 2010
Publicly Traded (Listed) No No
Bank No No
European Union Authorised (MiFID) No info Yes info
Trust Score 74 84
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BlackBull Markets vs IronFX 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 IronFX.

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 โ€“ in most cases โ€“ 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 โ€œDo Not Trustโ€ rating.

Can I trust IronFX?

IronFX has a trust score of 84, 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 IronFX a good broker?

IronFX is a MetaTrader-only broker that has worked hard to rebuild its trust factor by securing additional regulatory licenses, as well as taking action to improve the brand's offerings. Spreads at IronFX are higher than the industry average, but the broker has done a nice job putting together some decent educational materials for beginners.

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 New Zealand (FMA Authorised), while IronFX is Australia (ASIC Authorised) and United Kingdom (U.K.) (FCA Authorised).. Neither have Canada (SRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

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 IronFX is Cyprus (CySEC Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses BlackBull Markets is none, while IronFX is Bermuda (BMA Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

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

Does BlackBull Markets offer MetaTrader? Does IronFX offer MetaTrader?

For MetaTrader BlackBull Markets provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while IronFX provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

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

BlackBull Markets requires a minimum deposit of $0, while IronFX requires a minimum deposit of $50. From our testing we found BlackBull Markets offers spreads of 0.827, while IronFX offers spreads of 1.2. Both BlackBull Markets and IronFX 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 IronFX?

BlackBull Markets offers a more diverse selection of investment options than IronFX 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, BlackBull Markets has 26000, compared to 340 from IronFX.

Can I trade cryptocurrency with BlackBull Markets or IronFX?

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 โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither BlackBull Markets nor IronFX allow you to trade physical cryptocurrencies.

Who offers more research tools, BlackBull Markets or IronFX?

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 IronFX has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.

Broker Reviews

Still looking for more information, read our broker reviews.

BlackBull Markets Review

IronFX Review

Overall winner: BlackBull Markets

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announcementPlease note:

We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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