BlackBull Markets vs Xtrade 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 BlackBull Markets vs Xtrade.
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:
- "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 Xtrade?
Xtrade has a trust score of 80, giving it a "Trusted" trust label.
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.
Is Xtrade a good broker?
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 Xtrade is ASIC Authorised (Australia)., neither 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, BlackBull Markets is none, while Xtrade is CySEC Authorised (Cyprus) and FSCA Authorised (South Africa)., neither have CBRC Authorised (China), NSE Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses BlackBull Markets is none, while Xtrade is IFSC Authorised (Belize)., neither have SCB Authorised (Bahamas), 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 Xtrade supports a Proprietary Platform., neither have cTrader and DupliTrade
Does BlackBull Markets offer MetaTrader? Does Xtrade offer MetaTrader?
For MetaTrader BlackBull Markets provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Xtrade provides neither of these. If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.
How do BlackBull Markets and Xtrade differ in terms of minimum deposit? What about average spreads and funding options?
BlackBull Markets requires a minimum deposit of $50, while Xtrade requires a minimum deposit of $250. From our testing we found BlackBull Markets offers spreads of 0.845 (October, 2021), while Xtrade offers spreads of -1. Both BlackBull Markets and Xtrade offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits., neither have PayPal (Deposit/Withdraw)
Which brokers offers more tradeable asset classes, BlackBull Markets or Xtrade?
BlackBull Markets offers a more diverse selection of investment options than Xtrade allowing you to trade Forex Trading, Trading - Forex or CFDs, Social Trading / Copy Trading, Metals, Energies, Agriculturals and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, BlackBull Markets has 23000, compared to 142 from Xtrade.
Can I trade cryptocurrency with BlackBull Markets or Xtrade?
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 BlackBull Markets nor Xtrade allow you to trade physical cryptocurrencies.
Who offers more research tools, BlackBull Markets or Xtrade?
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 Xtrade has the tools listed here: Daily Market Commentary, Stock Charts and Forex News (Top-Tier Sources)., neither have Trading Central (Recognia)