In this matchup, two regulation-respecting brokers square off on cost, platforms, and scope. The axis of tension centers on coverage versus platform versatility.
ATFX and BlackBull Markets are closely matched, with the clearest gap in instrument breadth (300 vs 26,000).
Find out which broker best suits your trader profile.
Choose ATFX if…
Choose ATFX if you value investor compensation protection and MT4 only trading.
Choose BlackBull Markets if…
Choose BlackBull Markets if you want MT4, MT5, and cTrader plus raw spreads.
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
BlackBull Markets offers tighter spreads from 0.00 pips vs 1.80 pips for ATFX, reducing trading costs.
| Editorial score | 4.2/ 5 | 4.1/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.3 / 5▲ | 4.1 / 5 |
Pros
FCA (UK), CySEC (EU), and FSCA (SA) licensing
300+ instruments including ETF CFDs and bond CFDs
FSCS protection up to GBP 85,000 for UK clients
No minimum deposit, no inactivity fee
Client funds held in segregated accounts
A closer look at the specific criteria each broker meets or misses within each scoring category.
| Criteria | ATFX | BlackBull Markets |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Pass | Fail |
| Fees & Spreads | ||
| Raw/ECN spreads available | Fail | 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 |
The scores are close: ATFX rates 4.2/5 and BlackBull Markets rates 4.1/5. ATFX has a marginal edge in our scoring, but the difference is small enough that your specific priorities — fees, platforms, or regulatory jurisdiction — should guide the final choice.
BlackBull Markets starts from 0 pips, tighter than ATFX's 1.8 pips. Tighter spreads lower the cost per trade, which matters most for high-frequency and scalping strategies.
Neither ATFX nor BlackBull Markets requires a minimum deposit, making both accessible regardless of starting capital.
Both ATFX and BlackBull Markets hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners, both brokers provide negative balance protection. Also compare demo account availability and educational resources on each broker's site before deciding.
ATFX lists maximum leverage of 400:1, while BlackBull Markets lists up to 500:1. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
BlackBull Markets charges $6 per lot on commission-based accounts. Commission details for ATFX are not currently available. Check their website for up-to-date pricing.
ATFX supports MetaTrader 4, while BlackBull Markets supports cTrader, MetaTrader 5, TradingView, DXtrade, MetaTrader 4. Both provide MetaTrader 4. BlackBull Markets has exclusive access to cTrader and MetaTrader 5 and TradingView and DXtrade.
ATFX is best for safety with FCA, CySEC, and FSCA licenses plus investor compensation coverage.
BlackBull Markets serves active traders with raw spreads and multiple platforms.
BlackBull Markets is better suited for scalpers: raw/ECN spreads available, tighter spreads from 0.00 pips.
BlackBull Markets wins platform choice with MT4, MT5, and cTrader.
ATFX is suitable for beginners due to MT4 familiarity and strong regulation.
Fees & Spreads 30% weight | 3.8 / 5 | 4.3 / 5▲ |
|---|
Platforms & Tools 20% weight | 3.7 / 5 | 4.0 / 5▲ |
|---|
Customer Support 10% weight | 4.2 / 5▲ | 3.8 / 5 |
|---|
| Founded | 2017 | 2014 |
|---|
| Headquarters | London, United Kingdom | Auckland, New Zealand |
|---|
| Min Deposit | No minimum | No minimum |
|---|
| Spreads From | 1.8 pips | 0 pips▼ lower |
|---|
| Commission / lot | N/A | $6/lot |
|---|
| N/A | 0.6 pips |
| Max Leverage | 400:1 | 500:1▲ higher |
|---|
| Inactivity Fee | None | None |
|---|
| Deposit Fee | Free | Free |
|---|
| Deposit methods | Bank transferCredit cardDebit cardSkrillNeteller | Bank transferCredit cardDebit cardSkrillNeteller |
|---|
| Withdrawal methods | Bank transferCredit cardSkrillNeteller | Bank transferCredit cardSkrillNeteller |
|---|
| Withdrawal Fee | Free | Free |
|---|
| Regulators | FCA FSCA CySEC | FSC FMA |
|---|
| Platforms | MetaTrader 4 | cTrader MetaTrader 5 TradingView DXtrade MetaTrader 4 |
|---|
| Active bonuses |
|---|
Negative balance protection
Investor compensation scheme coverage
No deposit fees
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
MT4 only, no MT5, cTrader, or proprietary platform
Standard spreads from 1.8 pips are not ECN-competitive
Relatively young broker, founded 2017
No raw spread account option
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
Dig deeper into each broker’s features, fees, and regulation.
Score 4.1 / 5
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