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OANDA vs BlackBull Markets 2022

BrokerNotes.co

Written by BrokerNotes.co

Last updated August 30, 2022
Published April 26, 2022

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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Overall Rating expand_moreexpand_less OANDA BlackBull Markets IG
Overall Rating 8 / 10 7 / 10 9.7 / 10
Account Type expand_moreexpand_less OANDA BlackBull Markets IG
Standard Account Yes Yes Yes
Mini Account Yes Yes Yes
Micro Account Yes Yes Yes
Islamic Account Yes Yes No
Copy Trading expand_moreexpand_less OANDA BlackBull Markets IG
Social Trading / Copy Trading Yes Yes Yes
DupliTrade No No No
ZuluTrade Yes Yes No
Cryptocurrency expand_moreexpand_less OANDA BlackBull Markets IG
Cryptocurrency (Physical) No No No
Cryptocurrency (CFD) Yes Yes Yes
Bitcoin Yes No Yes
ethereum Yes No Yes
Forex Trading (Spot or CFDs) expand_moreexpand_less OANDA BlackBull Markets IG
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Indices (Index CFDs) expand_moreexpand_less OANDA BlackBull Markets IG
DAX Yes Yes Yes
Dow Jones Yes Yes Yes
FTSE Yes Yes Yes
NASDAQ 100 Yes Yes Yes
Nikkei Yes Yes Yes
SP 500 Yes Yes Yes
Investments expand_moreexpand_less OANDA BlackBull Markets IG
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Spread Betting Yes No Yes
Social Trading / Copy Trading Yes Yes Yes
Metals Yes Yes Yes
Energies Yes Yes Yes
Agriculturals Yes Yes Yes
ETF No No Yes
U.S. Stocks (CFD) No Yes Yes
Trading Platforms expand_moreexpand_less OANDA BlackBull Markets IG
Apple iOS App Yes Yes Yes
Android App Yes Yes Yes
Proprietary Platform Yes No Yes
Desktop Platform (Windows) Yes Yes Yes
Web Platform Yes Yes Yes
MetaTrader 4 (MT4) Yes Yes Yes
MetaTrader 5 (MT5) Yes Yes No
Regulatory Licenses expand_moreexpand_less OANDA BlackBull Markets IG
Tier-1 Licenses 6 1 7
ASIC Authorised (Australia) Yes No Yes
IIROC Authorised (Canada) Yes No No
FCA Authorised (U.K.) Yes No Yes
SFC Authorised (Hong Kong) No No No
MAS Authorised (Singapore) Yes No Yes
FINMA Authorised (Switzerland) No No Yes
CFTC Registered (USA) Yes No Yes
Tier-2 Licenses 0 0 2
Tier-3 Licenses 1 0 1
Research, Education expand_moreexpand_less OANDA BlackBull Markets IG
Trading Central (Recognia) No No No
Forex News (Top-Tier Sources) Yes No Yes
Daily Market Commentary Yes Yes Yes
Autochartist Yes Yes Yes
Investor Dictionary (Glossary) Yes Yes Yes
Videos - Beginner Trading Videos Yes Yes Yes
Client Webinars (Archived) Yes Yes Yes
Trading Costs expand_moreexpand_less OANDA BlackBull Markets IG
Minimum Initial Deposit $0 $50 £250.00
Average Spread EUR/USD - Standard 1.26 (5/22-5/27/22) 0.845 (October, 2021) 0.828 (September 2021)
All-in Cost EUR/USD - Active 1.26 (5/22-5/27/22) 0.845 (October, 2021) 0.365 (May 2020)
Active Trader or VIP Discounts Yes Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes Yes
PayPal (Deposit/Withdraw) Yes No Yes
Trading Tools expand_moreexpand_less OANDA BlackBull Markets IG
Watchlists - Total Fields 6 7 14
Mobile Watchlist Yes Yes Yes
Charting - Indicators / Studies (Total) 81 30 32
Mobile Charting - Indicators / Studies 33 30 32
Trust Factors expand_moreexpand_less OANDA BlackBull Markets IG
Year Founded 1996 2014 1974
Publicly Traded (Listed) No No Yes
Bank No No Yes
Authorised in European Union Yes No Yes
Trust Score 92 74 99
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OANDA 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 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 ASIC Authorised (Australia), IIROC Authorised (Canada), FSA Authorised (Japan), MAS Authorised (Singapore), FCA Authorised (U.K.) and CFTC Registered (USA), while BlackBull Markets is FMA Authorised (New Zealand)., neither have SFC Authorised (Hong Kong), CBI Authorised (Ireland) and FINMA Authorised (Switzerland)

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 CBRC Authorised (China), CySEC Authorised (Cyprus), NSE 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 OANDA is FSC Authorised (British Virgin Islands), while BlackBull Markets is none., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

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) and ZuluTrade., neither have cTrader and 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 $50. From our testing we found OANDA offers spreads of 1.26 (5/22-5/27/22), while BlackBull Markets offers spreads of 0.845 (October, 2021). 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, Trading - Forex or CFDs, Spread Betting, Social Trading / Copy Trading, Metals, Energies and Agriculturals., neither have ETF Looking at total tradeable symbols, OANDA has 124, compared to 23000 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)




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