XM vs BlackBull Markets | Fees, Features, Safety & More in 2024

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Forex Traders always look for trading with trusted and reliable forex brokers. XM and BlackBull Markets are Forex and CFD brokers offering online trading services globally. Both brokers are regulated by top-tier regulatory authorities. XM is regulated by two tier-1, two tier-2, and one tier-4 jurisdictions, including the ASIC, CySEC, FSCA, FSC-Belize, and DFSA.On the other hand, BlackBull Markets is regulated by two Tier-1 jurisdictions, and one Tier-4 jurisdictions including FMA, FSA -S, and FSPR. These two brokers offer almost similar services. However, each broker has its own strengths and weaknesses.

In this article, we will compare and review XM with BlackBull Markets regarding pros and 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.

XM vs BlackBull Markets: In a Nutshell

XM

XM is a multiple award-winning broker that allows its clients to trade forex, CFDs, and real stocks on its MetaTrader platforms. Founded in 2009, XM has over 1000 trading instruments and multiple account types which are designed for newbies, and experienced and professional traders. Trading tools are also provided to assist the traders with market analyses. 

XM Overview
  • Founded In: 2009
  • Minimum Deposit: $5
  • Maximum Leverage: 1000:1
  • Regulations: FSC
  • Trading platform: MT4, MT5
  • Account Types: Ultra Low, Micro, Standard, Islamic
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill
  • US Traders: Not Accept

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

XM vs BlackBull Markets: Pros and Cons

XM

Pros
  • Regulated by CySEC, ASIC, DFSA in UAE, and FSC Belize.
  • Easy and fast account opening
  • Minimum deposit is $5
  • Over 1000 forex/CFDs are available for trading.
  • MT4 and MT5 are the available trading platforms.
  • Quality research, market analysis, and access to trading tools like Autochartist.
  • Quality training for newbies and ‘ultra-low micro account’ for beginners.
  • High leverage up to 1000:1 (this leverage is not available to all the entities of the Group)
Cons
  • Dormant fees are charged after 3 months of no account activity.
  • Trading of real stocks is not available to European traders.
  • Traders have no other choice apart from the MetaTrader platforms.
  • Limited tradable assets.
  • No passive investment services (social trading platform, PAMM accounts);
  • Funding with PayPal is unavailable

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

XM vs BlackBull Markets: Side-by-Side Comparison

XM
BlackBull Markets
Product
Founded In
Founded In
2009
2014
Founded By
Founded By
Constantinos Cleanthous
Michael Walker and Selwyn Loekman
Headquarters
Headquarters
Limassol, Cyprus
Auckland, New Zealand
Regulations
Regulations
ASIC, CySec , FSC , DFSA, FSCA
FMA , FSA
Min Deposit
Min Deposit
$5
None
Max Leverage
Max Leverage
1000:1
1:500
Tradable Assets
Tradable Assets
Forex , Commodities, Stock ,Indices , Crypto , Turbo Stocks Equity indices , Precious Metals , Energies
Forex ,Share, CFDs and Commodities
Fees
Fees
Spreads as low as 0.6 pips
Spread from 0.8 pips, commissions $6/round lot
Platforms and Tools
Platforms and Tools
MT4 , MT5
MT4,MT5, Ctrader ,Tradingview
US Traders
US Traders
Not Allowed
Not Allowed

XM Vs BlackBull Markets: Our Scores and Ratings

We rated both brokers, XM 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.

XM :

9.3
Total Score
Regulation and Security (40%)9.6
Fees and Commissions (20%)9.5
Trading (15%)8.4
Trading tools (10%)8.6
Customer Support (10%)9.5
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 :

XM and BlackBull Markets are regulated forex and CFD brokers in the industry. They offer similar trading services. Both brokers allow scalping, hedging, EA trading, and Copy trading. 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 XM is $5, whereas the minimum deposit for BlackBull Markets is $0. Additionally, the maximum leverage for XM is 1000:1.On the other hand, the maximum leverage for BlackBull Markets is 500:1. XM offers a Social copy trading program, while BlackBull Markets does not have any social trading program.

Our score for XM is 9.3, and for BlackBull Markets, it is 8.2. So, if you are looking for trusted Forex brokers with Social Trading services, you may choose XM. However,If you prefer another broker with similar  trading services, 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.

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