IC Markets 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 IC Markets vs BlackBull Markets.
Can I trust IC Markets?
IC Markets has a trust score of 86, giving it a "Trusted" trust label.
- "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. Here's what each trust score label means:
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 FMA Authorised (New Zealand), while IC Markets is ASIC Authorised (Australia). Both do not 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 of these. Both do not have CBRC Authorised (China), NSE 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 of these. Both do not 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?
For trading platforms BlackBull Markets supports a Desktop Platform (Windows) and ZuluTrade, whereas IC Markets supports a Desktop Platform (Windows), cTrader and ZuluTrade. Both do not 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 $50. From our testing we found IC Markets offers spreads of 0.62 (August 2021), while BlackBull Markets offers spreads of 0.845 (October, 2021). BlackBull Markets supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for popular funding options, where IC Markets supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).
Which brokers offers more tradeable asset classes, IC Markets or BlackBull Markets?
BlackBull Markets offers a more diverse selection of investment options than IC Markets allowing you to trade Forex Trading, Trading - Forex or CFDs, Social Trading / Copy Trading, Metals, Energies, Agriculturals and U.S. Stocks (CFD). Both do not have Spread Betting. Looking at total tradeable symbols, IC Markets has 3583, compared to 23000 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 BlackBull Markets gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts and Social Trading / Copy Trading. In comparison IC Markets has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.