Traders at BlackBull Markets get a low-cost ECN/NDD environment with deep liquidity. The core MT4/MT5 platforms receive an upgrade via the Autochartist plugin, BlackBull Markets also offers the TradingView platform. Beginners get a quality educational section, and actionable trading signals are available for a monthly fee. BlackBull Markets also offers FIX API trading, the TradingView community, ZuluTrade, Myfxbook Autotrade, and HokoCloud.
We have conducted an in-depth review of BlackBull Markets and FP Markets to determine which presents the better overall choice and which traders will benefit the most at either broker.
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- FP Markets versus BlackBull Markets - Verdict
 |  | |
Headquarters | New Zealand | Australia |
Regulators | FMA, FSA | ASIC, CMA, CySEC, FSCA |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2014 | 2005 |
Execution Type(s) | ECN/STP, No Dealing Desk | ECN/STP |
Minimum Deposit | $0 | $100 |
Negative Balance Protection | ||
Trading Platform(s) | MetaTrader 4, MetaTrader 5, cTrader, Trading View | MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-based |
Average Trading Cost EUR/USD | 1.3 pips | 1.2 pips |
Average Trading Cost GBP/USD | 2.0 pips | 1.4 pips |
Average Trading Cost WTI Crude Oil | $0.03 | $0.02 |
Average Trading Cost Gold | $0.90 | $0.16 |
Retail Loss Rate | Undisclosed | 72.44% |
Minimum Raw Spreads | 0.0 pips | 0.0 pips |
Minimum Standard Spreads | 0.8 pips | 1.0 pips |
Minimum Commission for Forex | $6.00 per round lot | $6.00 per Round Lot |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Visit Website | Visit Website |
Features and Platforms
| | |
MT4 | ||
MT5 | ||
MT4/MT5 Add-Ons | ||
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
Social/Copy Trading | ||
DOM? | ||
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | ||
OCO Orders | ||
Interest on Margin | ||
| Visit Website | Visit Website |
Noteworthy:
BlackBull Markets and FP Markets offer VPS hosting, supporting algorithmic traders requiring uninterrupted market access. Both brokers offer scalpers and high-frequency traders a competitive environment with excellent low-latency order execution.
Available Markets
| | |
Currency Pairs | ||
Cryptocurrencies | ||
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks (non-CFDs) | ||
Bonds | ||
ETFs | ||
Options | ||
Futures | ||
Synthetics | ||
| Visit Website | Visit Website |
Traders at BlackBull Markets get 23,000+ equity CFDs and the underlying physical asset from 80+ global stock exchanges, placing it among the Top 5 brokers industry wide. FP Markets provides traders with a respectable 10,000+ assets through its Iress platform and 1,000+ in MT5. Forex traders get 60+ currency pairs at both brokers.
Typical Spreads and Fees
| | |
Average Trading Cost EUR/USD | 1.3 pips | 1.2 pips |
Average Trading Cost GBP/USD | 2.0 pips | 1.4 pips |
Average Trading Cost WTI Crude Oil | $0.03 | $0.02 |
Average Trading Cost Gold | $0.90 | $0.16 |
Average Trading Cost Bitcoin | $24 | $21.08 |
Minimum Raw Spreads | 0.0 pips | 0.0 pips |
Minimum Standard Spreads | 0.8 pips | 1.0 pips |
Minimum Commission for Forex | $6.00 per round lot | $6.00 per Round Lot |
Deposit Fee | ||
Withdrawal Fee | ||
Inactivity Fee | No | No |
| Visit Website | Visit Website |
Trading costs are cheaper at BlackBull Markets across the board, including equity trading. Commission-free accounts show minimum Forex costs of $8.00 per lot versus $10.00 at FP Markets. The commission-based alternative costs between $1.50 and $6.00 and $6.00, respectively.
Security and Trust
| | |
Country of the Regulator | New Zealand, Seychelles | Australia, Cyprus, Kenya, South Africa |
Name of the Regulator | FMA, FSA | ASIC, CMA, CySEC, FSCA |
Regulatory License Number | 403326, SD045 | 286354, 103, 371/18, 50926 |
| Visit Website | Visit Website |
Segregation of client deposits from corporate funds and negative balance protection applies at both brokers. Most international clients at FP Markets will trade with the unregulated but duly registered St. Vincent and the Grenadines subsidiary. FP Markets has more experience, but both brokers offer equally secure and trustworthy environments with clean track records.
FP Markets vs BlackBull Markets – Verdict
FP Markets
Pros | Cons |
|---|---|
| Choice of trading platforms and auxiliarytrading tools | Availability of Iress geographically restricted |
| Very competitive cost structure and excellent asset selection | |
| Low minimum deposit requirement and leverage of up to 1:500 | |
| Well-regulated and trustworthy |
BlackBull Markets
Pros | Cons |
|---|---|
| ECN/NDD execution model with deep liquidity | Limited deposit options |
| Institution-grade pricing for retail traders via proprietary price aggregation | |
| ZuluTrade and Myfxbook for social trading | |
| Leverage of up to 1:500 |
BlackBull Markets remains one of the most competitive multi-asset brokers with an industry-leading asset selection and ultra-low trading costs. Deep liquidity, high leverage, and excellent low-latency order execution exist at both brokers alike. FP Markets takes the overall lead due to a better upgrade for MT4/MT5 and its proprietary social trading service. It also provides research for free versus a paid-for monthly subscription at BlackBull Markets and maintains the MAM/PAMM module.
You might also be interested in reviewing the below broker comparisons:
- BlackBull vs Pepperstone
- BlackBull vs Axi
- BlackBull vs Markets.com
- FP Markets vs Avatrade
- FP Markets vs Tickmill
- FP Markets vs eToro
FAQs
Is FP Markets a true ECN?
FP Markets is an NDD broker with an ECN pricing model but maintains a commission-free account where it can act as a market maker whenever necessary.
Is FP Markets regulated in Canada?
FP Markets does not have a regulatory license in Canada and notes it does not accept traders from jurisdictions where it would violate local rules and regulations, suggesting Canadian traders cannot open accounts with FP Markets.
What is the minimum deposit for FP Markets?
The minimum deposit at FP Markets is $100 or a currency equivalent, placing it at the industry average.
Is BlackBull Markets safe?
BlackBull Markets established itself as one of the safest, most reliable, and trustworthy brokers with a clean regulatory track record since 2014.
Is BlackBull Markets a market maker?
While BlackBull Markets maintains a commission-free account where it may act as a market maker, BlackBull Markets is primarily an ECN/NDD broker.