Pepperstone versus BlackBull Markets

BlackBull Markets, a New Zealand-headquartered Forex broker and FinTech company, offers clients ECN/NDD execution with deep liquidity through the MT4/MT5 and TradingView trading platforms, upgraded with the Autochartist plugin. It also delivers actionable trading signals for a monthly fee while education remains free of charge. BlackBull Markets also supports social trading via market leaders ZuluTrade and Myfxbook Autotrade plus newcomer HokoCloud.

Pepperstone upgrades its MT4/MT5 platforms with its Smart Trader Tools package. Traders may also use cTrader, and Pepperstone added Capitalise AI, a code-free environment to automate trading. Social trading support exists via Myfxbook Autotrade and DupliTrade, plus embedded solutions in all three trading platforms.

We have conducted an in-depth review of BlackBull Markets and Pepperstone to determine which presents the better overall choice and which traders will benefit the most at either broker.

Features and Platforms

Features & PlatformsBlackBull Markets (visit site)Pepperstone (visit site)
Headquarter:New ZealandAustralia
Established :
Retail Loss Rate:
Minimum Deposit:
Demo Account:
Managed Account:
Islamic Account:
Inactivity Fee
Deposit Fee:
Withdrawal Fee
$5 + Third-PartyThird-Party
Funding Methods:
Proprietary Platform:
Automated Trading:
Social / Copy Trading:
MT4/MT5 Add-ons:
Guaranteed Stop Loss:
Negative Balance Protection:
Bonuses and Promotions:
Unique Feature One:
Excellent equity selectionExcellent MT4 upgrade with 28 plugins
Unique Feature Two:
FIX API TradingVPS, Autochartist, and TradingView
Broker Offers:


Both brokers offer VPS hosting for algorithmic traders and access to deep liquidity, making them ideal for scalpers and high-frequency traders, where BlackBull Markets maintains an edge.

Available Markets

Available MarketsBlackBull MarketsPepperstone
Currency Pairs:
Cryptocurrency Pairs:
Commodities and Metals:
Options, Futures, and Synthetics:
Maximum Retail Leverage:
Maximum Pro Leverage:

While Pepperstone maintains a well-balanced asset selection of 1,200+ assets, BlackBull Markets ranks among the Top 5 industry-wide with 23,000+ equity CFDs and the underlying assets for direct share dealing from 80+ global stock exchanges. Forex traders get 60+ currency pairs and limited cryptocurrency pairs at both brokers, and Pepperstone adds ETFs.

Typical Spreads and Fees

Typical Spreads & FeesBlackBull MarketsPepperstone
Minimum Raw Spreads:
0.0 pips0.0 pips
Minimum Standard Spreads:
0.8 pips0.6 pips
Minimum Commission for Forex:
$1.50 - $6.00 per round lot$6.00 per round lot
Commission for Equities:
Minimum of $2.00$7.00 per round lot
Execution Type:

BlackBull Markets shines with its pricing environment for Institutional ECN accounts requiring a minimum deposit of $20,000, placing it among the cheapest brokers industry wide. The ECN Prime alternative and the Pepperstone Razor account are nearly equally competitive, but BlackBull Markets offers lower equity costs.

Security and Trust


Country of the RegulatorName of the RegulatorLicense Number
Australian Securities & Investments CommissionAFSL No.414530
Securities Commission of The BahamasLicense Number SIA-F217
Cyprus Securities and Exchange CommissionLicense Number 388/20
Dubai Financial Services AuthorityLicense Number F004356
Federal Financial Supervisory AuthorityHRB 91279
Capital Markets AuthorityCMA License No.128
Financial Conduct AuthorityFCA Registration Number 684312

BlackBull Markets

Country of the RegulatorName of the RegulatorLicense Number
New Zealand
Financial Markets AuthorityFSP403326
Financial Services AuthoritySD045

Both brokers segregate client deposits from corporate funds at Tier 1 banks and offer negative balance protection. Pepperstone complies with more regulators, including two offering an investor compensation fund. BlackBull Markets and Pepperstone belong to the most secure, reliable, and trusted brokers with a spotless operational track record.

Pepperstone vs BlackBull Markets – Verdict


Excellent choice of trading platforms consisting of MT4/MT5, and cTraderMinimum deposits are slightly higher but within a reasonable range
Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
Social trading support via Myfxbook, MetaTrader Signals, and DupliTrade
Leverage of up to 1:500 and superb trade execution

BlackBull Markets

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

Deep liquidity, a balanced asset selection, and superb order execution exist at BlackBull Markets and Pepperstone, alongside quality education for beginners. Both brokers maintain low trading costs and fully support algorithmic and social trading. BlackBull Markets takes the lead due to its significantly broader choice of equity-focused trading instruments, lower trading costs for demanding traders, access to the TradingView community, and actionable trading signals.

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