IC Markets vs BlackBull Markets - Fees Review included
Which broker is better IC Markets or BlackBull Markets? Our expert assessment conducted according to TU’s own methodology showed that IC Markets is one of the top brokers in the financial market with the TU Overall Score of 8.62 out of 10. BlackBull Markets is one of the top brokers in the financial market with the TU Overall Score of 5.36 out of 10. Find out more about TU Overall Score.
| Feature | IC Markets | BlackBull Markets |
|---|---|---|
Overall |
4.7 |
3.2 |
5 |
4 |
|
4.9 |
3.8 |
|
4.6 |
4 |
|
Investment Instruments |
4.9 |
1.7 |
Platforms and Charting Tools |
4.4 |
4.1 |
Deposit and Withdrawal |
4.6 |
3.7 |
Research |
4.3 |
2.6 |
Education |
4.4 |
3.8 |
Support |
4.6 |
3 |
Bonuses |
2.5 |
1.6 |
|
|
|
IC Markets vs BlackBull Markets: Pros and Cons
IC Markets Trading Company was founded in 2007 in Sydney, Australia. The broker is licensed under the Australian Financial Services License (AFSL) and the Australian Securities and Investment Commission (ASIC). The broker is also a member of the Australian Financial Complaint Authority (AFCA), the governing body that sets the industry standard for the resolution of disputes between consumers and financial service providers, and regularly undertakes audits.
BlackBull Markets was founded with the goal of becoming the leading online Financial Technology and Foreign Exchange broker. BlackBull Markets is a true ECN, No Dealing Desk brokerage specializing in Forex, CFDs, Commodities, Fibre Optic Communications and Fintech solutions for a global clientele.
| IC Markets | BlackBull Markets | |
|---|---|---|
| Overall Pros | World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | Over 24000 trading assets |
| Advanced ECN trading | 3 ECN accounts | |
| Order execution speed 40 mc | Well-regulated broker | |
| Free VPS | ||
| Trading servers in New York and London | ||
| Strong regulation | ||
| 2000+ trading assets, 60+ currency pairs | ||
| EURUSD Average spread 01 pip | ||
| Overall Cons | No forex bonuses | Only one account currency |
| World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | Small choice of investing programs |
IC Markets vs BlackBull Markets: Safety and Regulation
| Regulated By: | IC Markets | BlackBull Markets |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
AFCA (Australia) |
No |
Other Regulators |
Yes |
FMA |
IC Markets vs BlackBull Markets: Trading Conditions
| Trading Conditions | IC Markets | BlackBull Markets |
|---|---|---|
Minimum Deposit |
$200 |
$200 |
Trading Platforms |
MT4, MT5, cTrader |
MT4, МТ5, Webtrader, Mobile platforms |
Max Leverage (Futures) |
1-500 |
1-500 |
Supported Markets |
Forex, futures, CFDs on indices, commodities, metals, stocks and bonds |
Forex, Index CFDs, Commodities, Precious Metals, Energy |
Trading assets |
2000+ |
24000+ |
Trading Accounts |
cTrader, Raw Spread, Standard |
ECN Standard, ECN Prime, ECN Institutional |
Base Account Currencies |
USD, AUD, GBP, CHF, JPY, NZD, SGD, CAD, HKD, BTC |
USD |
IC Markets vs BlackBull Markets: Fees
Forex Trading Fees
| Fee | IC Markets | BlackBull Markets |
|---|---|---|
Standard Account EURUSD Average Spread |
0.62 pips |
0.824 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$3 per lot |
$0 |
ECN Account EUR Average Spread |
0.02 pip |
0.1 pips |
CFD Trading Fees
| Fee | IC Markets | BlackBull Markets |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | IC Markets | BlackBull Markets |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
0.05 |
Inactivity Fee |
No |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
IC Markets vs BlackBull Markets: Trading Assets
| Asset Name | IC Markets | BlackBull Markets |
|---|---|---|
Overall |
2000+ trading assets |
24000+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes (CFD) |
No |
Bonds |
Yes (CFD) |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes (CFD) |
No |
Binary Options |
No |
No |
IC Markets or BlackBull Markets: Investment Programs
| Asset Name | IC Markets | BlackBull Markets |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: BlackBull Markets or IC Markets
| IC Markets | BlackBull Markets | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
Yes |
No |
Appropriate platform |
IC Markets terminal |
No |
Others |
No |
No |
|
|
|
IC Markets vs BlackBull Markets: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | IC Markets | BlackBull Markets |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
No |
IC Markets vs BlackBull Markets: Research
| Research Type | IC Markets | BlackBull Markets |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
IC Markets vs BlackBull Markets: Education
| Education Type | IC Markets | BlackBull Markets |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
No |
Videos |
Yes |
Yes |
Cent account |
No |
No |
BlackBull Markets vs IC Markets: Support
| Support Features | IC Markets | BlackBull Markets |
|---|---|---|
Working Days |
24/5 |
24/6 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
IC Markets vs BlackBull Markets: Forex Bonuses and Promo
| Promo | IC Markets | BlackBull Markets |
|---|---|---|
Forex Bonus |
Not offered |
No |
Affiliate Program |
% of trading commissions |
If you refer a new client to BlackBull Markets, who funds and trades on their account, we will deposit up to US$250 into both you and your friend’s trading accounts as a thank you bonus. |
Other Promos |
||
|
|
|
Top 5 Reviews on BlackBull Markets
-
Comment
I started cooperating with BlackBull Markets in November of last year. Initially, I traded on a demo account, testing the broker and my trading strategy. After successful testing, I opened a real account with BlackBull Markets. So far, I can't say anything negative about the broker. Trades are executed quickly, although the platform can sometimes freeze for 10-15 minutes. But such situations are rare.
-
Comment
Blackbull Markets has not passed my own check. I deposited funds to test the broker, traded a little, and found serious issues. I have a lot of experience and obvious problems with opening orders and operation of the platform are clear to me. Then I did a simple check — I opened a trade on another platform and opened a trade on Blackbull Markets. The difference in quotes was greater, although the trade and the asset were the same. I do not recommend Blackbull Markets.
-
Comment
I started trading with BlackBull Markets and everything seemed fine, but when I increased my lots, the platform started randomly logging me out. Several times, when I expected significant profits, they closed my positions at a loss, explaining that the position was too large, although I still had enough margin. I no longer recommend trading with BlackBull Markets and advise caution.
-
Comment
I do not recommend dealing with Blackbull and its traders. They strive to take all the money from the client’s account and use all possible methods and techniques to do this. I myself received less profit because I trusted an inexperienced trader recommended by this company. As a result, after three months my account was reset and there was only $50 left of $1,000. Therefore, I advise you not to deal with Blackbull.
-
Comment
This looks very much like fraud! I registered my account just a month ago and transferred $5000 to BlackBull. Now, I can't log in to my account; they are blocking me by IP. I've contacted BlackBull's customer support, but no one is responding. It's disheartening if this platform turns out to be fraudulent.
Top 5 Reviews on IC Markets
-
Comment
I decided to use the services of IC Markets not long ago. Now I think that not all negative reviews are justified. This is a good broker and I have already withdrawn profits several times, everything went without problems. IC Markets’ rates differ from those of other brokers. But you can adapt to this problem.
-
Comment
I initially paid $3000 to start with and an account manager demonstrated a growth of $500 in quick time. A specialist then came in and tried to get me to invest $25000 to which I bluntly denied and they tried with $20K, then $10K and even $5K to all of which I refused! They have now kept me hanging and I asked for a refund to which they are asking for more money from me and I don't know what more to do! Also as of yesterday, the site itself is DOWN!! I cannot log in anymore and the email contact i had from there, when i sent the email to check it came back saying that domain does not exist anymore!! I am at loss of words and my hard earned money unfortunately i was able to recover my money back with the help of Olivia teams get in touch with them oliviatrader 44 at gmail com WhatApp +1 (423) 248 - 2140
-
Comment
I was looking for a reliable broker and noticed the long existence and good reputation of ICMarkets. Moreover, my friend, who has been trading for a long time, recommended contacting them. After several years, I have become a more experienced trader and I am satisfied with the work of the broker.
-
Comment
I have been trading with IC Markets for some time now and I can draw some conclusions. The platform works stably, which indicates a serious approach to its work. Spreads are quite optimal, although for cryptocurrencies they are higher than average as compared to those of its competitors. Slippages occur, there is nothing you can do about it. But there are no problems with requotes at all. In general, I think it’s possible to rate IC Markets “good”.
-
Comment
There are many advantages to IC Markets broker. First, of course, is the presence of a license from a reputable regulator. Accounts can be opened for citizens of many countries. Second, the platform works very well. Order execution speed is high, and you can actively trade manually or with the help of an advisor. I am quite satisfied with IC Markets as a broker.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.