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OANDA vs BlackBull Markets 2023

BrokerNotes.co

Written by BrokerNotes.co

March 14, 2023

Trying to decide between OANDA 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, OANDA 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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Compare

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Overall Rating OANDA BlackBull Markets
Overall Rating 8.4 / 10 7.9 / 10
Account Type OANDA BlackBull Markets
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info Yes Yes
Islamic Account info Yes Yes
Copy Trading OANDA BlackBull Markets
Social Trading / Copy Trading info Yes Yes
DupliTrade info No No
ZuluTrade info Yes Yes
Cryptocurrency OANDA BlackBull Markets
Cryptocurrency (Physical) info Yes No
Cryptocurrency (CFD) Yes Yes
Bitcoin info Yes No
ethereum info Yes No
Forex Trading (Spot or CFDs) OANDA BlackBull Markets
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) OANDA BlackBull Markets
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments OANDA BlackBull Markets
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info Yes No
Social Trading / Copy Trading info Yes Yes
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes Yes
ETF info No Yes
U.S. Stocks (CFD) info No Yes
Trading Platforms OANDA BlackBull Markets
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes Yes
Regulatory Licenses OANDA BlackBull Markets
Tier-1 Licenses info 6 1
Australia (ASIC Authorised) info Yes No
Canada (CIRO Authorised) info Yes No
United Kingdom (U.K.) (FCA Authorised) info Yes No
Hong Kong (SFC Authorised) info No No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
USA (CFTC Authorized) info Yes No
Tier-2 Licenses info 0 0
Tier-3 Licenses info 1 0
Research, Education OANDA BlackBull Markets
Trading Central (Recognia) info No No
Forex News (Top-Tier Sources) info Yes No
Daily Market Commentary info Yes Yes
Autochartist info Yes Yes
Investor Dictionary (Glossary) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info Yes Yes
Trading Costs OANDA BlackBull Markets
Minimum Deposit info $0 $0
Average Spread EUR/USD - Standard info 1.26 info 0.827 info
All-in Cost EUR/USD - Active info 1.26 info 0.827 info
Active Trader or VIP Discounts info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info Yes No
Trading Tools OANDA BlackBull Markets
Watchlists - Total Fields info 6 7
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 81 30
Mobile Charting - Indicators / Studies info 30 30
Trust Factors OANDA BlackBull Markets
Year Founded info 1996 2014
Publicly Traded (Listed) info No No
Bank info No No
European Union Authorised (MiFID) info Yes info No info
Trust Score info 92 74
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OANDA 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 OANDA vs BlackBull Markets.

Can I trust OANDA?

OANDA has a trust score of 92, giving it a "Highly 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 OANDA a good broker?

OANDA is a long-standing broker that is highly regulated and trusted across the world by forex and CFD traders. OANDA has strong market research, and offers connectivity to numerous platforms and third-party plugins (including integrated charts from TradingView). The only downside with using OANDA is its comparatively small range of markets and industry-average spreads.

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

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, unfortunately, neither OANDA nor BlackBull Markets are China (CBRC Authorised), Cyprus (CySEC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised).. Neither have UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses OANDA is British Virgin Islands (FSC Authorised), while BlackBull Markets is none.. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

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

Does OANDA offer MetaTrader? Does BlackBull Markets offer MetaTrader?

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

OANDA requires a minimum deposit of $0, while BlackBull Markets requires a minimum deposit of $0. From our testing we found OANDA offers spreads of 1.26, while BlackBull Markets offers spreads of 0.827. OANDA 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, OANDA or BlackBull Markets?

OANDA offers a more diverse selection of investment options than BlackBull Markets allowing you to trade Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies and Agriculturals. Looking at total tradeable symbols, OANDA has 124, compared to 26000 from BlackBull Markets.

Can I trade cryptocurrency with OANDA 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 OANDA nor BlackBull Markets allow you to trade physical cryptocurrencies.

Who offers more research tools, OANDA or BlackBull Markets?

In terms of research and research tools OANDA gives traders the following tools: Autochartist, Daily Market Commentary, Forex News (Top-Tier Sources) 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.. Neither have Trading Central (Recognia)

Broker Reviews

Still looking for more information, read our broker reviews.

OANDA Review

BlackBull Markets Review

Overall winner: OANDA

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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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