Alpari International vs BlackBull Markets Forex Broker Comparison
A head-to-head comparison of Alpari International and BlackBull Markets across regulation, trading costs, platforms, and editorial scoring.
Score 3.9 / 5
2 bonusesHistoric retail forex brand regulated by FSC Mauritius, offering MT4 and MT5 with ECN and Standard accounts, widely recognised in the CIS and emerging markets but operating under an offshore licence since the Alpari UK collapse.
VS
Score 4.1 / 5
2 bonusesNew Zealand-regulated ECN broker with all three major platforms, no minimum deposit on standard accounts, and good Asia-Pacific coverage.
Our Verdict
BlackBull Markets winsby 0.2 pts
BlackBull Markets edges ahead with a score of 4.1/5 vs Alpari International's 3.9/5. A narrow margin, so review the breakdown below to see where each broker has a clear advantage.
Verdict by Trader Profile
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Best for low cost trading
It's a tie
Both equally suited
Both brokers offer spreads from 0 pips.
Best for safety & regulation
Recommended
BlackBull Markets has a stronger safety profile: top-tier regulation, segregated funds, negative balance protection.
Best for platform choice
Recommended
BlackBull Markets offers more exclusive platform options: cTrader, TradingView, DXtrade.
Best for beginners
Recommended
BlackBull Markets edges out Alpari International with a higher editorial score (4.1/5 vs 3.9/5), indicating a stronger overall experience for new traders.
Alpari International vs BlackBull Markets: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 3.9/ 5 | 4.1/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 3.7 / 5 | 4.1 / 5▲ |
Fees & Spreads 30% weight | 4.1 / 5 | 4.3 / 5▲ |
Platforms & Tools 20% weight | 3.9 / 5 | 4.0 / 5▲ |
Customer Support 10% weight | 3.8 / 5 | 3.8 / 5 |
| Founded | 1998 | 2014 |
| Headquarters | Port Louis, Mauritius | Auckland, New Zealand |
| Min deposit | $5 | No minimum |
| Spreads from | 0 pips | 0 pips |
| Commission / lot | $6/lot | $6/lot |
| Max leverage | 1000:1 | 500:1 |
| Withdrawal fee | Free | Free |
| Regulators | FSCA FSC | FMA FSC |
| Platforms | MetaTrader 4 MetaTrader 5 | MetaTrader 4 MetaTrader 5 cTrader TradingView DXtrade |
| Active bonuses | ||
| Visit broker | Visit Alpari International | Visit BlackBull Markets |
Alpari International vs BlackBull Markets Forex Broker Pros & Cons
Pros
26-year brand history in retail forex
Mature PAMM investor platform - one of the originals
ECN accounts with $6 per-lot commission competitive with top ECN desks
Wide geographic reach across CIS, MENA, and Africa
Client funds held in segregated accounts
Raw spread account available
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Pros
Supports all three major platforms: MT4, MT5, and cTrader
Regulated under FSC - well-established for offshore clients
No minimum deposit on standard account
Good for Asia-Pacific timezone traders
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Negative balance protection
Raw spread account available
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Cons
FSC Mauritius licence - lower investor protection than FCA/ASIC/CySEC
Legacy of UK entity collapse in 2015 is a cautionary reference point
No top-tier regulatory licence for its core international client base
No negative balance protection
No investor compensation scheme
No proprietary platform
Limited charting capabilities
Cons
ECN commission of $6/lot round-turn is above some peers
Customer support timezone is NZ-centric
Brand recognition outside APAC is limited
No investor compensation scheme
No proprietary platform
Alpari International vs BlackBull Markets: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
0
Alpari International
criteria wins
3
BlackBull Markets
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | Alpari International | BlackBull Markets |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Fail | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Fail | Pass |
| Compensation scheme (e.g. FSCS) | Fail | Fail |
| Fees & Spreads | ||
| Raw/ECN spreads available | Pass | Pass |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Pass |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Fail | Fail |
| Mobile app | Pass | Pass |
| Advanced charting tools | Fail | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
Alpari International vs BlackBull Markets: Frequently Asked Questions
Based on our independent editorial scoring, BlackBull Markets ranks higher with a score of 4.1/5 vs 3.9/5 for Alpari International. The best choice still depends on your individual trading needs; Alpari International and BlackBull Markets may each suit different trader profiles.
Both Alpari International and BlackBull Markets offer spreads starting from 0 pips, making them equivalent on this metric. Consider commissions and account types when evaluating total trading costs.
BlackBull Markets has a lower minimum deposit of no minimum required, while Alpari International requires at least $5. This makes BlackBull Markets more accessible for traders with limited starting capital.
BlackBull Markets holds top-tier regulation (FMA, FSC), providing stronger investor protections. Alpari International may be regulated but does not hold top-tier status in our data. Always verify regulatory status with the broker directly before depositing funds.
For beginners: BlackBull Markets has a lower minimum deposit (no minimum), lowering the barrier to entry; BlackBull Markets offers negative balance protection, capping losses at your deposit amount. Also weigh up educational resources and customer support quality before deciding.
Alpari International offers maximum leverage of 1000:1, while BlackBull Markets offers up to 500:1. Available leverage varies by account type, instrument, and jurisdiction. Higher leverage amplifies both potential profits and losses. Always use appropriate risk management.
Both Alpari International and BlackBull Markets charge the same commission of $6 per lot on applicable accounts.
Alpari International supports MetaTrader 4, MetaTrader 5 and BlackBull Markets offers MetaTrader 4, MetaTrader 5, cTrader, TradingView, DXtrade; both support MetaTrader 4, MetaTrader 5; BlackBull Markets exclusively offers cTrader, TradingView, DXtrade.
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Score 3.9 / 5
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