Updated: 01/03/2024

Blackbull vs XM: Comparing Trading Platforms

The world of online trading is constantly evolving, with traders seeking dependable and user-friendly platforms to…

Blackbull vs XM
12 Nov 2023
WRITTEN BY Chad Smith
EDITED BY Henry Hicks
REVIEWED BY Chris Padgett

Table of Contents

The world of online trading is constantly evolving, with traders seeking dependable and user-friendly platforms to meet their needs. Two popular forex brokers often considered by traders are BlackBull Markets and XM. Both brokers have attracted attention for their unique offerings, with BlackBull Markets standing out for its STP Prime account and XM for its spread-only accounts starting from 0.6 pips. However, the comparison goes beyond just these account features and delves into various aspects of each platform.

BlackBull Markets is a globally recognised broker, regulated by the Financial Service Providers Register in New Zealand, and headquartered there since its inception in 2014. The broker specialises in providing Contracts for Difference (CFDs) based on shares, commodities, currencies, and indices. In comparison, XM is an international broker regulated by the Cyprus Securities and Exchange Commission, located in Cyprus, and offering over 1500+ tradable assets on MetaTrader 4 & 5.

With both platforms having their own merit, potential traders must weigh their options and consider a variety of factors, such as regulatory status, trading platforms and tools, account types, trading conditions, and financial instruments. Ultimately, the ideal choice between BlackBull Markets and XM comes down to individual preferences and trading requirements.

Key Takeaways

  • BlackBull Markets and XM are popular forex brokers with differing account types and specialisations.
  • While BlackBull Markets is regulated in New Zealand, XM has regulatory oversight in Cyprus.
  • The choice between the two forex brokers is subjective and depends on a trader’s specific preferences and needs.

Company Overview and Regulatory Status

BlackBull Market’s Profile and Regulation

BlackBull Markets, founded in 2014, is a global broker headquartered in New Zealand. They specialise in offering Contracts for Differences (CFDs) based on shares, commodities, currencies, and indices. When it comes to regulation, BlackBull Markets is subject to oversight by two financial authorities:

  • FMA (New Zealand): The Financial Markets Authority oversees the broker’s operations for clients in New Zealand.
  • FSA (Seychelles): BlackBull Markets is regulated by the Financial Services Authority in Seychelles for its international clients.

These regulatory bodies contribute to ensuring a secure trading environment for you as a client.

XM’s Profile and Regulation

XM Group, established in 2009, is an international broker with its headquarters in Cyprus. They offer a wide array of tradable assets, with over 1500+ options available on MetaTrader 4 and 5. XM has a trustworthy regulatory status, with supervision by three financial authorities:

  • ASIC (Australia): The Australian Securities and Investments Commission oversees XM’s operations for clients in Australia.
  • CySEC (Cyprus): XM is regulated by the Cyprus Securities and Exchange Commission, which covers its operations in Cyprus and the European Union.
  • FSC (Mauritius): Oversees XM Group for its clients in other international locations.

As a client, this extensive oversight provides confidence in XM Group’s adherence to regulatory standards and the security of your investments.

Trading Platforms and Tools

  • Bonus and Promotion
  • Deposit Bonus
  • No Deposit Bonus
  • Cashback Rebates
  • Live Trading Competitions
  • Demo Trading Competition
  • Refer A Friend
  • Loyalty Scheme
  • Review Link
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In this section, we shall discuss the trading platforms and tools offered by BlackBull Markets and XM to help you make an informed decision on which broker suits your needs better.

BlackBull’s Trading Platforms

BlackBull Markets offers MetaTrader 4 (MT4) as its primary trading platform. MT4 is widely recognised for its reliability, customizability, and user-friendly interface. Some features of MT4 include:

  • Real-time market data
  • Advanced charting tools
  • Access to custom indicators and Expert Advisors (EAs)
  • Compatible with Windows, Mac, Android, and iOS platforms

In addition to MT4, BlackBull Markets also supports social trading through various third-party platforms, allowing you to explore options for automated trading and copying successful traders.

XM’s Trading Platforms

XM, on the other hand, provides both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms to cater to a broader range of trading needs. Similar to BlackBull’s offering, XM’s MT4 includes:

  • Real-time market data
  • Advanced charting tools
  • Customisable indicators and EAs
  • Compatibility with Windows, Mac, Android, and iOS devices

However, with MT5, you can enjoy several additional features, such as:

  • Access to more markets (stocks, commodities, cryptocurrencies)
  • Depth of Market (DOM) information
  • An integrated economic calendar
  • A greater number of technical indicators
  • Faster processing and more advanced order types

Both brokers offer mobile apps for Android and iOS, enabling you to manage your trades and keep up with market updates on the go. These apps come with watchlist features, allowing you to monitor your favourite assets and stay informed of their performance in real time.

In conclusion, while BlackBull Markets focuses on providing a solid MT4 platform, XM expands its offerings with both MT4 and MT5 options, catering to a wider range of trader preferences and needs.

Account Types and Trading Conditions

Account Types in BlackBull

BlackBull Markets offers a range of account types to suit your trading needs and experience. Here are the key features of each account type:

  • Standard Account: This account is suitable for beginners with a minimum deposit requirement of $200. It offers a maximum leverage of 1:500 and spreads starting from 0.8 pips. There is no commission charged on trades and a free demo account is available for practice.
  • Prime Account: Designed for more experienced traders, the Prime Account requires a minimum deposit of $2,000. It offers tighter spreads from 0 pips and a $7.00 per round turn commission. The maximum leverage available is 1:500, and a demo account can also be used for practice.
  • Institutional Account: Tailored for professional and institutional traders, the Institutional Account offers custom trading conditions based on your preferences. For more details on this account type, it’s best to contact BlackBull Markets directly.

Additionally, BlackBull Markets provides swap-free accounts for traders who require them due to religious beliefs.

Account Types in XM

XM offers different account types to cater to the varied needs of traders. Here are the main features of each account type:

  • Micro Account: Ideal for newcomers, the Micro Account has a minimum deposit requirement of just $5, making it accessible for all. It offers a maximum leverage of 1:500 and spreads from 1 pip. No commission is charged on trades, and a free demo account is available for practice.
  • Standard Account: With a minimum deposit requirement of $5, the Standard Account offers similar trading conditions as the Micro Account. However, the main difference is the contract sizes, which are larger in the Standard Account. It also provides a maximum leverage of 1:500, no commission on trades and a demo account for practice.
  • XM Zero Account: Aimed at experienced traders, the XM Zero Account requires a minimum deposit of $100. It offers tight spreads from 0 pips, a maximum leverage of 1:500, and a $7 per round turn commission. A free demo account is also available.

Both XM and BlackBull Markets have their distinctive account types and trading conditions, catering to various levels of trading experience. It is essential to assess your own trading requirements and choose an account type that meets your needs. As always, remember to evaluate all related fees, such as trading fees, deposit fees, and inactivity fees, before making your decision.

Financial Instruments and Funding Methods

Financial Instruments in BlackBull

At BlackBull Markets, you’ll find a wide range of financial instruments to trade, including Forex, indices, commodities, and shares. The broker offers access to more than 64 Forex pairs, including major, minor, and exotic currency pairs such as the popular EUR/USD. With BlackBull, you can also trade contracts for differences (CFDs) for commodities, stocks, and indices diversifying your portfolio.

Financial Instruments in XM

XM, on the other hand, offers over 1,000 trading instruments, covering forex pairs, stocks, commodities, indices, precious metals, and energies. With Forex trading, you have access to more than 55 Forex pairs in both major and minor currencies. XM also provides extensive access to trading CFDs on various assets, including cryptocurrencies like Bitcoin, Ethereum, and Litecoin.

Funding Methods in BlackBull

To fund your BlackBull Markets trading account, you have several options available. The main funding methods include bank transfers, credit or debit cards (Visa, Mastercard), and popular e-wallets like Skrill, Neteller, and FasaPay. BlackBull Markets also supports deposits in multiple currencies: USD, EUR, GBP, CAD, AUD, and JPY. Although not directly supported, you may use other funding methods like UnionPay and POLi payments through Skrill or Neteller.

Funding Methods in XM

For your XM trading account funding, you have a plethora of choices. Besides the common bank transfers and credit/debit cards like Visa and Mastercard, you can also use e-wallets like Skrill, Neteller, and even cryptocurrencies such as Bitcoin. XM accepts several currencies for funding, including USD, EUR, GBP, AUD, CAD, JPY, and others. It also supports a wide range of local payment solutions specific to countries, making it easy to deposit and withdraw funds in your local currency.

Frequently Asked Questions

BlackBull Markets or XM: which has better trading conditions?

BlackBull Markets offers spreads from 0 pips (plus a $7.00 commission with its STP Prime account), while XM has a strong spread-only account starting from 0.6 pips. Trading conditions may vary based on your individual preferences such as spreads, commissions, and other factors, so consider your specific needs when choosing between these two brokers.

Are both BlackBull Markets and XM well-regulated?

Yes, both BlackBull Markets and XM are well-regulated. XM Group is considered low-risk, with an overall Trust Score of 88 out of 99, as it is regulated by 23 international regulators. BlackBull Markets is considered an average risk, with an overall Trust Score of 77 out of 99.

Which platform offers more diverse trading instruments?

XM offers a larger selection of trading instruments, with over 1,000 available, compared to BlackBull Markets’ 60 financial instruments. This difference in instrument availability means you may have more options and flexibility when trading with XM compared to BlackBull Markets.

How does customer support compare between BlackBull and XM?

Both BlackBull Markets and XM are known for providing reliable customer support. However, the availability and response times may vary depending on the broker you choose. It is advisable to check each broker’s customer support channels, such as live chat, email, and phone support, before deciding which one will best meet your needs.

What are the differences in account types between BlackBull Markets and XM?

BlackBull Markets primarily offers three account types: Standard, Prime, and Institutional, with varying spreads, commissions, and minimum deposits. XM, on the other hand, offers a range of account types including Micro, Standard, ultra-low, and Shares accounts, with varying spreads, minimum deposits, and instrument availability. Consider your trading preferences and requirements when selecting the account type that best suits your needs.

Which broker has lower fees: BlackBull or XM?

The fees charged by both BlackBull Markets and XM depend on the account type you choose and the financial instruments you trade. BlackBull Markets offers spreads from 0 pips and charges a commission of $7.00 with its STP Prime account. Meanwhile, XM offers spread-only accounts starting from 0.6 pips without additional commissions. Carefully compare the fee structures of both brokers and consider the trade-offs between spreads and commissions before making your decision.

author avatar image
Chad Smith

Chad Smith is the Director of Research & Analysis here at ForexBrokerListing.com. Chad previously served as an Editor for a number of websites related to finance and trading, where he authored a significant number of published articles about trading and the impact of technology in transforming investing as we know it. Overall, Chad is an active fintech and crypto industry researcher with more than 15 years of trading experience, and you can find him teaching his dog how to trade in his free time.

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