XM Group 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 XM Group vs BlackBull Markets.
Can I trust XM Group?
XM Group has a trust score of 88, 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 77, giving it a "Average Risk" trust label.
Is XM Group a good broker?
Founded in 2009, XM Group is a trusted broker that holds licenses in multiple Tier-1 regulatory jurisdictions. Known for its robust educational materials and quality market research, XM Group publishes high-quality videos, podcasts, and articles. Traders at XM Group gain access to the full MetaTrader platform suite (including MetaTrader 5) along with trading tools provided by Trading Central. That said, XM Group doesn't yet offer any proprietary platforms, and its range of markets and trading costs trail behind the best MetaTrader brokers.
Is BlackBull Markets a good broker?
BlackBull Markets is an up-and-coming broker that offers the full MetaTrader suite (both MetaTrader 4 and MetaTrader 5), a proprietary Social Copy Trading platform, as well as integration with the popular TradingView platform. Traders at BlackBull Markets gain access to share trading, CFDs, and a growing range of markets from its brands regulated in New Zealand and the Seychelles. BlackBull Markets' educational content has grown in recent years, but still trails behind what's offered by the best forex brokers in that category.
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. XM Group is Australia (ASIC Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized), while BlackBull Markets is New Zealand (FMA Authorised).. Neither have Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised) 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, XM Group is Cyprus (CySEC Authorised) and UAE (DFSA/Central Bank Authorised), while BlackBull Markets is none.. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses XM Group is Belize (FSC Authorised), while BlackBull Markets is none.. Neither have Bahamas (SCB Authorised), Bermuda (BMA 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 XM Group supports a Desktop Platform (Windows), whereas BlackBull Markets supports a Desktop Platform (Windows), cTrader and ZuluTrade.. Neither have Proprietary Platform and DupliTrade
Does XM Group offer MetaTrader? Does BlackBull Markets offer MetaTrader?
Both XM Group 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 XM Group and BlackBull Markets differ in terms of minimum deposit? What about average spreads and funding options?
XM Group requires a minimum deposit of $5, while BlackBull Markets requires a minimum deposit of $0. From our testing we found XM Group offers spreads of 1.6, while BlackBull Markets offers spreads of 0.827. Both XM Group and BlackBull Markets offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits.. Neither have PayPal (Deposit/Withdraw)
Which broker offers more tradeable asset classes, XM Group or BlackBull Markets?
XM Group 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 and U.S. Stocks (CFD).. Neither have Spread Betting Looking at total tradeable symbols, XM Group has 1429, compared to 26000 from BlackBull Markets.
Can I trade cryptocurrency with XM Group 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 XM Group nor BlackBull Markets allow you to trade physical cryptocurrencies.
Who offers more research tools, XM Group or BlackBull Markets?
In terms of research and research tools XM Group gives traders the following tools: 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.
Overall winner: XM Group
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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.