Oanda vs BlackBull Markets - Fees Review included
Which broker is better Oanda or BlackBull Markets? Our expert assessment conducted according to TU’s own methodology showed that Oanda is one of the top brokers in the financial market with the TU Overall Score of 5.28 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 | Oanda | BlackBull Markets |
|---|---|---|
Overall |
4.4 |
3.2 |
5 |
4 |
|
4.5 |
3.8 |
|
3.5 |
4 |
|
Investment Instruments |
4.1 |
1.7 |
Platforms and Charting Tools |
4.8 |
4.1 |
Deposit and Withdrawal |
4.2 |
3.7 |
Research |
4.7 |
2.6 |
Education |
4.5 |
3.8 |
Support |
4.8 |
3 |
Bonuses |
4.6 |
1.6 |
|
|
|
Oanda vs BlackBull Markets: Pros and Cons
Olsen & Associates, also known as OANDA, is a US-registered company set up to offer a plethora of financial services to clients around the world. Its history goes as far back as 1996, and it is now under regulation in four jurisdictions. The broker has licenses from different regulators, of which the United Kingdom Financial Conduct Authority (FCA) is the major one.
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.
| Oanda | BlackBull Markets | |
|---|---|---|
| Overall Pros | Regulated by a range of reputable financial bodies | Over 24000 trading assets |
| Real-time news and fundamental analysis tools | 3 ECN accounts | |
| localized and multilingual phone support | Well-regulated broker | |
| User-friendly platform for new forex traders | ||
| Outstanding research tools | ||
| Financial information publicly available | ||
| High educational value through written content and videos | ||
| Orders get executed with no requotes | ||
| Deposit minimum as low as $1 | ||
| Overall Cons | No programs offering bonus | Only one account currency |
| Slow withdrawal of funds | Small choice of investing programs |
Oanda vs BlackBull Markets: Safety and Regulation
| Regulated By: | Oanda | BlackBull Markets |
|---|---|---|
US Regulation |
Yes (CFTC, NFA) |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
Yes |
No |
Other Regulators |
European Union (regulated by the MFSA), Singapore (regulated by the MAS), Canada (regulated by IIROC), Japan (regulated by FSA) |
FMA |
Oanda vs BlackBull Markets: Trading Conditions
| Trading Conditions | Oanda | BlackBull Markets |
|---|---|---|
Minimum Deposit |
No minimum deposit |
$200 |
Trading Platforms |
MT4, OANDA, TradingView |
MT4, МТ5, Webtrader, Mobile platforms |
Max Leverage (Futures) |
1-50 |
1-500 |
Supported Markets |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Forex, Index CFDs, Commodities, Precious Metals, Energy |
Trading assets |
120+ |
24000+ |
Trading Accounts |
Standard, Core, and Swap-free |
ECN Standard, ECN Prime, ECN Institutional |
Base Account Currencies |
USD, EUR, HKD, SGD |
USD |
Oanda vs BlackBull Markets: Fees
Forex Trading Fees
| Fee | Oanda | BlackBull Markets |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
0.824 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
not offered |
$0 |
ECN Account EUR Average Spread |
not offered |
0.1 pips |
CFD Trading Fees
| Fee | Oanda | BlackBull Markets |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Oanda | BlackBull Markets |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
$20 - just for bank transfer |
0.05 |
Inactivity Fee |
After 12 months of inactivity, 10 units of your account’s currency denomination |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Oanda vs BlackBull Markets: Trading Assets
| Asset Name | Oanda | BlackBull Markets |
|---|---|---|
Overall |
120+trading assets |
24000+ |
Forex |
Yes |
Yes |
Stocks |
No |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Oanda or BlackBull Markets: Investment Programs
| Asset Name | Oanda | BlackBull Markets |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: BlackBull Markets or Oanda
| Oanda | BlackBull Markets | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
Oanda |
No |
Others |
No |
No |
|
|
|
Oanda vs BlackBull Markets: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Oanda | BlackBull Markets |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes (not for all markets) |
Yes |
Crypto |
No |
No |
Oanda vs BlackBull Markets: Research
| Research Type | Oanda | BlackBull Markets |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
Oanda vs BlackBull Markets: Education
| Education Type | Oanda | BlackBull Markets |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
No |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
BlackBull Markets vs Oanda: Support
| Support Features | Oanda | BlackBull Markets |
|---|---|---|
Working Days |
24/5 |
24/6 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Oanda vs BlackBull Markets: Forex Bonuses and Promo
| Promo | Oanda | BlackBull Markets |
|---|---|---|
Forex Bonus |
Yes (Not for all countries) |
No |
Affiliate Program |
Yes |
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 |
Rebates and commission markdowns |
|
|
|
|
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 Oanda
-
Comment
I can describe OANDA as one of the most proper brokers on the currency market. It works quickly, there are no failures, and no market movements have a significant impact on it. I'm safe here.
-
Comment
OANDA is a good company and I plan to continue trading with them. I started with a demo account and then switched to a live one with a small deposit. OANDA successfully passed my tests in trading and withdrawals. I easily withdraw profits to my bank card.
-
Comment
I got acquainted with the OANDA broker online. Initially, I read reviews about it and decided to give this platform a try. If you do everything correctly, you can pass the verification process, although it does take some time. Then, the actual trading process began. The conditions at OANDA are average, so I can give this broker a decent rating.
-
Comment
The broker OANDA is licensed by reliable regulators, offers a wide range of financial services, boasts years of experience, multiple regulators, and significant awards. There is a vast selection of popular trading instruments, a very low minimum deposit, and qualified technical support. However, the OANDA website occasionally functions poorly. Overall, I currently have no major complaints about trading with this broker.
-
Comment
OANDA offers tight spreads, is licensed, and has a low entry threshold and fast withdrawals. The overall impression of working with this company is positive. I would recommend this broker. Another advantage is that OANDA's client support is excellent.
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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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!