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Fineco Bank vs BlackBull Markets 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between Fineco Bank and BlackBull Markets? 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, Fineco Bank 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 RatingFineco BankBlackBull MarketsXTB
Overall Rating7.9 / 107.9 / 109 / 10
Account TypeFineco BankBlackBull MarketsXTB
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)NoYesYes
Islamic AccountYesYesYes
Copy TradingFineco BankBlackBull MarketsXTB
Social Trading / Copy TradingNoYesYes
DupliTradeNoNoNo
ZuluTradeNoYesNo
CryptocurrencyFineco BankBlackBull MarketsXTB
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)NoYesYes
BitcoinNoNoYes
ethereumNoNoYes
Forex Trading (Spot or CFDs)Fineco BankBlackBull MarketsXTB
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)Fineco BankBlackBull MarketsXTB
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsFineco BankBlackBull MarketsXTB
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoNoNo
Social Trading / Copy TradingNoYesYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsNoYesYes
ETFYesNoNo
U.S. Stocks (CFD)YesYesYes
Trading PlatformsFineco BankBlackBull MarketsXTB
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)NoYesYes
MetaTrader 5 (MT5)NoYesNo
Regulatory LicensesFineco BankBlackBull MarketsXTB
Tier-1 Licenses111
ASIC Authorised (Australia)NoNoNo
IIROC Authorised (Canada)NoNoNo
FCA Authorised (U.K.)YesNoYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)NoNoNo
Tier-2 Licenses003
Tier-3 Licenses001
Research, EducationFineco BankBlackBull MarketsXTB
Trading Central (Recognia)NoNoNo
Forex News (Top-Tier Sources)YesNoYes
Daily Market CommentaryNoYesYes
AutochartistNoYesNo
Investor Dictionary (Glossary)YesYesNo
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)YesYesYes
Trading CostsFineco BankBlackBull MarketsXTB
Minimum Initial Deposit$0$0$0
Average Spread EUR/USD - StandardN/A0.827 (August 2022)1.07 (Q3 2022)
All-in Cost EUR/USD - ActiveN/A0.827 (August 2022)1.04 (Q3 2022)
Active Trader or VIP DiscountsNoYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)NoYesYes
PayPal (Deposit/Withdraw)NoNoYes
Trading ToolsFineco BankBlackBull MarketsXTB
Watchlists - Total Fields78
Mobile WatchlistNoYesYes
Charting - Indicators / Studies (Total)903039
Mobile Charting - Indicators / StudiesN/A3039
Trust FactorsFineco BankBlackBull MarketsXTB
Year Founded199920142002
Publicly Traded (Listed)YesNoYes
BankYesNoNo
Authorised in European UnionYesNoYes
Trust Score927495
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Fineco Bank vs BlackBull Markets Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare Fineco Bank vs BlackBull Markets.

Can I trust Fineco Bank?

Fineco Bank 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 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 BlackBull Markets?

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

Is Fineco Bank a good broker?

FinecoBank is a trusted brand catering to forex and CFD traders, and listed on the Italian Stock Exchange. Operating out of the U.K. and Italy, traders aren't permitted to open online accounts with Fineco unless they are a resident of the U.K. or Italy (or are applying as EU residents โ€“ at an actual Fineco branch office).

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. Fineco Bank is FCA Authorised (U.K.), while BlackBull Markets is FMA Authorised (New Zealand)., neither have ASIC Authorised (Australia), 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, unfortunately, neither Fineco Bank nor BlackBull Markets are CBRC Authorised (China), CySEC Authorised (Cyprus), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE)., neither have DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses unfortunately, neither Fineco Bank nor BlackBull Markets 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 Fineco Bank supports a Proprietary Platform and Desktop Platform (Windows), whereas BlackBull Markets supports a Desktop Platform (Windows), cTrader and ZuluTrade., neither have DupliTrade

Does Fineco Bank offer MetaTrader? Does BlackBull Markets offer MetaTrader?

For MetaTrader Fineco Bank provides neither of these, while BlackBull Markets provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

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

Fineco Bank requires a minimum deposit of $0, while BlackBull Markets requires a minimum deposit of $0. From our testing we found Fineco Bank offers spreads of N/A, while BlackBull Markets offers spreads of 0.827 (August 2022). Fineco Bank supports Bank Wire (Deposit/Withdraw) for popular funding options, where BlackBull Markets supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw)., neither have PayPal (Deposit/Withdraw)

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

Fineco Bank offers a more diverse selection of investment options than BlackBull Markets allowing you to trade Forex Trading (Spot or CFDs), Metals, Energies, ETF and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, Fineco Bank has 126, compared to 26000 from BlackBull Markets.

Can I trade cryptocurrency with Fineco Bank 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 โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither Fineco Bank nor BlackBull Markets allow you to trade physical cryptocurrencies.

Who offers more research tools, Fineco Bank or BlackBull Markets?

In terms of research and research tools Fineco Bank gives traders the following tools: Stock Charts and Forex News (Top-Tier Sources). 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)

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