IC Markets vs BlackBull Markets: In-Depth Analysis 2024

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IC Markets and BlackBull Markets are online Forex and CFD brokers that offer trading services to traders and investors worldwide. Both brokers are regulated by top-tier regulatory authorities. IC Markets is regulated in two tier-1, and one tier-4 jurisdictions, including ASIC, CySEC, and FSA. On the other hand, the BlackBull Markets is regulated in two Tier-1 jurisdictions, and one Tier-4 jurisdiction including FMA, FSA -S, and FSPR. These two brokers offer almost similar services. However, each broker has its strengths and weaknesses.

In this article, we will compare and contrast IC Markets with BlackBull Markets regarding their pros, cons, trading platforms, regulations, tradable assets, fees, customer support, and overall trading experience score. This comparison lets you understand which broker is better for your trading style and preferences

IC Markets vs BlackBull Markets: In a Nutshell

IC Markets

Andrew Budzinksi founded IC Markets in 2007 with the aim of using superior technology to provide forex and CFD trading services to both institutional and retail traders. Over the years, the broker has improved in quality and services. It offers true ECN trading with low spreads, high leverage, and fast executions to a global clientele.

ICMarkets Overview

ICMarkets Overview
  • Founded In: 2007 
  • Founder: Andrew Budzinksi
  • Minimum Deposit: $200
  • Maximum Leverage: Upto 1000:1 for FSA Jurisdiction, 30:1 for ASIC, CySEC clients.  
  • Regulations: ASIC, CySEC,  and FSA
  • Trading platform: MT4, MT5 and cTrader
  • Trading Instruments: 2150+ Trading Instruments including Forex, Crypto, Stock, Commodity Indices, Bonds, Futures.
  • Account Types: Standard, Standard, Raw (Metatrader, Ctrader) 
  • Fees: Spread starting from 0.8 Pips(Standard Accounts) or $3 to 3.5 Commission (Raw Accounts)
  • Payment Options: bank/wire transfer, Paypal, credit card, Skrill, Neteller, UnionPay, Bpay, FasaPay and Poli.
  • US Traders: Not Accepted 

BlackBull Markets

Michael Walker and Selwyn Loekman founded BlackBull in 2014 in Auckland, New Zealand. BlackBull enables the trading of over 26,000 instruments including forex, CFDs, real stocks, and ETFs. The available platforms are MT4, MT5, TradingView, cTrader, BlackBull shares and BlackBull Trade. Social trading is through BlackBull CopyTrader and ZuluTrade. Trading tools such as free VPS and Autochartist are provided.

Blackbull Markets  Overview
  • Founded In: 2014
  • Minimum Deposit: $0
  • Maximum Leverage: 1:500
  • Regulations: FMA ,FSA
  • Trading platform: MT4,MT5, Ctrader ,Tradingview
  • Account Types: Standard, Prime, Institutional
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Cryptocurrency, FasaPay, Neteller, Skrill, UnionPay
  • US Traders: Not Accept

IC Markets vs BlackBull Markets: Pros and Cons

IC Markets

Pros
  • Fully Regulated broker, ( One tire-1 , jurisdiction, one tire-2 jurisdiction) 
  • Super fast trade execution speed 
  • Straightforward registration process 
  • Low spread, starting from 0 pips. 
  • Easy and Fast Account Opening 
  • Free deposit and withdrawal 
  • Offers standard and raw spread account
  • Trading EA is Allowed 
  • Ability to trade from a mobile device 
  • A demo Account is available
Cons
  • Higher minimum deposit 
  • No investor protection for non-EU Clients 
  • Limited Product Selection 
  • No weekend Trading 
  • US Traders are not accepted

BlackBull Markets

Pros
  • Regulated by  FMA, FSPR, FSP, FSA-S
  • Founded in New Zealand and operating globally
  • Professional and Retail Trading options 
  • No Minimum Deposit Requirement ($0) 
  • The Maximum Leverage is as  high as 1:500
  • Allow Scalping, News Trading, EA/Robot Trading 
  • Offers Multiple Trading platforms including MT4, MT5, WebTrader, TradingView
  • Supports multiple third-party copy trading platforms, such as ZuluTrade, Duplitrade, and Myfxbook.
Cons
  • BlackBull lacks additional Tier-1 regulatory licenses outside of New Zealand.
  • $2,000 minimum deposit for Prime Account
  • The Ctrader platform is not offered 
  • Withdrawal fees 
  • Limited Research Tools 
  • Not very diverse range of tradable assets

IC Markets vs BlackBull Markets: Side-by-Side Comparison

IC Markets
BlackBull Markets
Product
Founded In
Founded In
2007
2014
Founded By
Founded By
Andrew Budzinksi
Michael Walker and Selwyn Loekman
Headquarters
Headquarters
Sydney, Australia
Auckland, New Zealand
Regulations
Regulations
ASIC, CySEC, FSA, and SCB
FMA , FSA
Min Deposit
Min Deposit
$200
None
Max Leverage
Max Leverage
1:500
1:500
Tradable Assets
Tradable Assets
Over 2100 forex, CFDs in stocks, indices, commodities, cryptos, and Bonds.
Forex ,Share, CFDs and Commodities
Fees
Fees
Spreads from 0.6 pips, Commissions $7/round lot
Spread from 0.8 pips, commissions $6/round lot
Platforms and Tools
Platforms and Tools
MT4, MT5, and cTrader
MT4,MT5, Ctrader ,Tradingview
US Traders
US Traders
Not Allowed
Not Allowed

IC Markets Vs BlackBull Markets: Our Scores and Ratings

We rated both brokers, IC Markets and BlackBull Markets, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

IC Markets :

9.3
IC Markets Scores
Regulation and Security (40%)9.5
Fees and Commissions (20%)9.5
Trading (15%)8.5
Trading tools (10%)9
Customer Support (10%)9.6
Trading Education (5%)9.4

BlackBull Markets:

8.2
Total Score
Regulation and Security (40%)8.4
Fees and Commissions (20%)8
Trading (15%)8.8
Trading tools (10%)5
Customer Support (10%)9.5
Trading Education (5%)9

Final Verdict :

IC Markets and BlackBull Markets are regulated forex and CFD brokers in the industry. They offer similar trading services including forex and CFD trading. They both allow scalping, hedging, EA trading and Copy trading. Neither of these brokers accept US Clients. The minimum order size for both of them is 0.01. 

However, there are a few areas where you may find some differences. For example, the minimum deposit for IC Markets is $200, whereas the minimum deposit for BlackBull Markets is $0. Additionally, the maximum leverage for the IC Market is generally 500:1 (in some countries IC Markets offers 1000:1 leverage). On the other hand, the maximum leverage for BlackBull Markets is 500:1. IC Market offers passive investment programs or copy trading programs like MAM, and Zulutrade. Similarly, BlackBull Markets also offers passive investment programs like MAM and Zulutrade.

Our score for IC Markets is 9.3, and for BlackBull Markets, it is 8.2 So, if you are looking for the most trusted forex brokers with tight spread and  MAM account services, you may choose IC Markets. However, If you prefer a forex broker with a lower minimum deposit and offering a similar trading service to IC Markets, you may choose BlackBull Markets.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

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