Pepperstone vs BlackBull Markets - Fees Review included
Which broker is better Pepperstone or BlackBull Markets? Our expert assessment conducted according to TU’s own methodology showed that Pepperstone is one of the top brokers in the financial market with the TU Overall Score of 7.17 out of 10. BlackBull Markets is one of the top brokers in the financial market with the TU Overall Score of 5.87 out of 10. Find out more about TU Overall Score.
| Feature | Pepperstone | BlackBull Markets |
|---|---|---|
Overall |
4.4 |
3.2 |
4.7 |
4 |
|
4.7 |
3.8 |
|
4.4 |
4 |
|
Investment Instruments |
4.4 |
1.7 |
Platforms and Charting Tools |
4.8 |
4.1 |
Deposit and Withdrawal |
4.5 |
3.7 |
Research |
3.9 |
2.6 |
Education |
4.1 |
3.8 |
Support |
4.3 |
3 |
Bonuses |
3.2 |
1.6 |
|
|
|
Pepperstone vs BlackBull Markets: Pros and Cons
Pepperstone (Pepperstone.com) was founded in 2010 in Melbourne, Australia, by professional traders who were not satisfied with the quality of services provided by most brokers. The founders decided to avoid many of the disadvantages of competitors, including high commissions, delayed execution of orders, etc. They also focused on improving the technical component. The company has set itself the goal of changing the “rules of the game” and setting the bar high for online trading. Today, the broker provides clients all over the world with some of the best technological solutions and favorable trading conditions. The company also provides professional tools that help not only master trading as a type of activity, but also significantly increase the efficiency of trades. Pepperstone is regulated by ASIC (Australian Securities and Investments Commission), FCA (UK Financial Conduct Authority), BaFin, DFSA, CMA, SCB, CySec. Clients' assets are held in aggregated accounts with major banks. These facts confirm the reliability of the company and guarantee the safety of the client's capital.
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.
| Pepperstone | BlackBull Markets | |
|---|---|---|
| Overall Pros | Fast order execution - 30 ms on average | Over 24000 trading assets |
| Low trading fees | 3 ECN accounts | |
| Strong luqidity | Well-regulated broker | |
| Advanced ECN account | ||
| Access to TradingView's advanced charting tools | ||
| Strong regulation | ||
| Overall Cons | The company offer Crypto CFDs outside Africa and UK | Only one account currency |
| Small choice of investing programs |
Pepperstone vs BlackBull Markets: Safety and Regulation
| Pepperstone | BlackBull Markets | |
|---|---|---|
Max. Regulation Level |
Tier-1 |
Tier-2 |
Investor protection |
£85,000 €20,000 €100,000 (DE) |
No |
FCA UK Regulation |
Yes |
No |
FINRA (U.S) |
No |
No |
BaFin (Germany) |
Yes |
No |
ASIC (Australia) |
Yes |
No |
CFTC (U.S) |
No |
No |
MAS |
No |
No |
FSCA SA |
No |
No |
BVI FSC |
No |
No |
VFSC |
No |
No |
FSA (Seychelles) |
No |
Yes |
Pepperstone vs BlackBull Markets: Trading Conditions
| Trading Conditions | Pepperstone | BlackBull Markets |
|---|---|---|
Minimum Deposit |
$0 |
$200 |
Trading Platforms |
MT4, MobileTrading, WebTrader, cTrader, TradingView |
MT4, МТ5, Webtrader, Mobile platforms |
Max Leverage (Futures) |
1-500 |
1-500 |
Supported Markets |
Forex, CFDs on Stocks, Commodities, Metals and ETFs, Shares, Crypto |
Forex, Index CFDs, Commodities, Precious Metals, Energy |
Trading assets |
1200+ |
24000+ |
Trading Accounts |
Razor, Standard |
ECN Standard, ECN Prime, ECN Institutional |
Base Account Currencies |
AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD |
USD |
Pepperstone vs BlackBull Markets: Fees
| Pepperstone | BlackBull Markets | |
|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,5 |
0,2 |
Standard acc. spread EUR/USD, max pips |
1,5 |
0,8 |
ECN Commission |
3 |
3 |
ECN Spread EUR/USD |
0,1 |
0,3 |
Deposit fee, % |
No |
No |
Withdrawal fee, % |
No |
No |
Withdrawal fee, USD |
No |
5 |
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.
Pepperstone vs BlackBull Markets: Trading Assets
| Asset Name | Pepperstone | BlackBull Markets |
|---|---|---|
Overall |
1200+ |
24000+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
No |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes (CFD) |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Pepperstone or BlackBull Markets: Investment Programs
| Asset Name | Pepperstone | BlackBull Markets |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: BlackBull Markets or Pepperstone
| Pepperstone | BlackBull Markets | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
Yes |
No |
Appropriate platform |
No |
No |
Others |
TradingView |
No |
|
|
|
Pepperstone vs BlackBull Markets: Deposit and Withdrawal Methods
| Pepperstone | BlackBull Markets | |
|---|---|---|
Bank Wire |
Yes |
Yes |
Bank Card |
Yes |
Yes |
Neteller |
Yes |
Yes |
BTC |
No |
No |
Wise |
No |
No |
Payoneer |
No |
No |
USDT |
Yes |
Yes |
Pepperstone vs BlackBull Markets: Research
| Research Type | Pepperstone | BlackBull Markets |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
Pepperstone vs BlackBull Markets: Education
| Education Type | Pepperstone | BlackBull Markets |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
No |
Videos |
Yes |
Yes |
Cent account |
No |
No |
BlackBull Markets vs Pepperstone: Support
| Support Features | Pepperstone | BlackBull Markets |
|---|---|---|
Working Days |
24/5 |
24/6 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Pepperstone vs BlackBull Markets: Forex Bonuses and Promo
| Promo | Pepperstone | BlackBull Markets |
|---|---|---|
Forex Bonus |
No |
No |
Affiliate Program |
For each attracted client under the terms of the program, the affiliate has the opportunity to receive up to USD 400 |
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 |
Active trader program - Members of the program are paid a daily rebate, which allows them to offset part of their costs. The amount of the rebate depends on the number of trades performed by the trader per month. The rebate for one currency lot is 15%. What’s more, active traders get priority support and free VPS hosting. |
|
|
|
|
Top 5 Reviews on BlackBull Markets
-
Comment
BlackBull Markets offers a wide range of platforms: MetaTrader 4/5, WebTrader, TradingView, and its proprietary BlackBull Trade. A nice benefit is the free demo account and the ability to trade with no minimum deposit on a standard account. Leverage goes up to 1:500, and traders can choose from multiple account currencies — USD, EUR, GBP, AUD, NZD, SGD, CAD, and JPY. Trading fees are moderate, with EUR/USD spreads starting from 0.3 pips and a fixed $5 withdrawal fee (or equivalent). The broker supports trading in over 70 currency pairs as well as CFDs across a broad range of assets. Despite this variety, most instruments are offered only as CFDs, and there are no PAMM or MAM accounts. BlackBull Markets is regulated by the FSA (Seychelles) and the FMA (New Zealand).
-
Comment
BlackBull Markets offers clients a choice of three types of live accounts, allowing traders to select the option that best suits their individual strategies. The minimum trade size is 0.01 lots, and leverage can go up to 1:500. A key feature of this broker is the absence of a minimum deposit for the standard account, making the platform accessible to beginner traders. Spreads on major pairs start from 0.3 pips, which is below the industry average, and withdrawal fees are fixed at 5 units of the base currency regardless of the amount. The broker provides access to over 17,000 instruments, including 70 currency pairs and a wide range of CFDs on stocks, indices, commodities, and cryptocurrencies. Supported platforms include MT4, MT5, WebTrader, TradingView, and BlackBull’s own trading platform, BlackBull Trade. For passive investors, copy trading services and a referral program are also available. BlackBull Markets is regulated by the FSA and FMA, offering a moderate level of security (rated 7 out of 10).
-
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.
Top 5 Reviews on Pepperstone
-
Comment
I found the broker Pepperstone while looking for a company with no deposit or withdrawal fees — I’ve never had to pay extra, as the broker covers all the charges. I was impressed by the selection — over 1,200 instruments, including rare currency pairs, commodity indices, and cryptocurrencies. I often trade on news releases, and the execution speed (as fast as 30 ms) is just amazing! In three months, I earned nearly $1,000, especially from trading oil and gold.
-
Comment
Pepperstone caught my attention with its range of platforms: MetaTrader 4/5, cTrader, and even TradingView! The minimum order size is 0.01 lots, which makes it convenient to test strategies with minimal risk. I deposited and withdrew funds via PayPal and bank card — both options were fast, with funds arriving within 1–2 hours. In one month, I made $600 trading CFDs on stocks and commodities. Bonuses and promos are rare, but the trading conditions more than make up for it.
-
Comment
I started working with Pepperstone on the recommendation of a friend who has been in the market for several years. I was pleasantly surprised that spreads start from 0.0 pips and there are over 1,200 trading instruments to choose from! I opened my account in EUR, although other currencies are available, including SGD and HKD. I trade through MetaTrader 5, and for experimentation, I connected cTrader — it’s convenient to switch between platforms. I managed to earn +$400 on cryptocurrencies during the first week, especially on ETH’s rise. Throughout my time trading, I haven’t encountered any requotes.
-
Comment
I chose Pepperstone because of its zero minimum deposit — a rarity among major brokers. I appreciated that the platform is regulated by several reputable authorities: ASIC, FCA, BaFIN, and others. Over three months of trading with 1:400 leverage, I managed to grow my deposit by $750 using scalping on currency pairs and indices. Order execution is nearly instant — averaging 30 ms, and the difference is noticeable compared to other brokers. I withdraw profits to my card without delays and with no fees.
-
Comment
Pepperstone offers a combination of transparent trading conditions, fast order execution, and a wide range of instruments. Over the years, the broker has proven to be a reliable partner: its registration with ASIC, FCA, CySEC, and other regulators reflects the trust placed in the company. A $0 minimum deposit makes it accessible for beginners. A nice bonus is support for over 30 languages and 24/5 customer service. Thanks to its variety of account types, negative balance protection, and passive income opportunities through copy trading, Pepperstone has become my go-to choice for long-term trading.
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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.