BlackBull Markets vs FXCM Forex Broker Comparison
A head-to-head comparison of BlackBull Markets and FXCM across regulation, trading costs, platforms, and editorial scoring.
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.
VS
Veteran FCA-regulated broker with strong API support, MT4, and the proprietary Trading Station platform.
Our Verdict
Too close to call
BlackBull Markets and FXCM are extremely closely matched with scores of 4.1/5 and 4.1/5. The right choice depends on your individual trading priorities.
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
Recommended
BlackBull Markets offers tighter spreads from 0 pips vs 0.4 pips for FXCM, reducing trading costs.
Best for safety & regulation
Recommended
FXCM has a stronger safety profile: top-tier regulation, compensation scheme, segregated funds, negative balance protection.
Best for active traders
Recommended
BlackBull Markets has a cost edge: raw/ECN spreads, tighter spreads from 0 pips.
Best for platform choice
It's a tie
Both equally suited
Both brokers offer an equivalent platform selection with similar exclusive and proprietary options.
Best for beginners
Recommended
Both brokers share the same editorial score of 4.1/5, but BlackBull Markets requires a lower minimum deposit ($0 vs $50 for FXCM), making it more accessible for new traders.
BlackBull Markets vs FXCM: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.1/ 5 | 4.1/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.1 / 5 | 4.1 / 5 |
Fees & Spreads 30% weight | 4.3 / 5▲ | 4.2 / 5 |
Platforms & Tools 20% weight | 4.0 / 5 | 4.2 / 5▲ |
Customer Support 10% weight | 3.8 / 5 | 4.0 / 5▲ |
| Founded | 2014 | 1999 |
| Headquarters | Auckland, New Zealand | London, United Kingdom |
| Min deposit | No minimum | $50 |
| Spreads from | 0 pips | 0.4 pips |
| Commission / lot | $6/lot | N/A |
| Max leverage | 500:1 | 400:1 |
| Withdrawal fee | Free | Free for first per month |
| Regulators | FMA FSC | FCA ASIC |
| Platforms | MetaTrader 4 TradingView MetaTrader 5 DXtrade cTrader | MetaTrader 4 Proprietary Web/Mobile NinjaTrader |
| Active bonuses | ||
| Visit broker | Visit BlackBull Markets | Visit FXCM |
BlackBull Markets vs FXCM Forex Broker Pros & Cons
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
Pros
Strong APIs (REST, FIX)
Trading Station + MT4
FCA regulated
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Proprietary trading platform available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
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
Cons
Withdrew from US market in 2017
No raw spread account option
Inactivity fee applies
BlackBull Markets vs FXCM: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
2
BlackBull Markets
criteria wins
2
FXCM
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | BlackBull Markets | FXCM |
|---|---|---|
| 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) | Fail | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Pass | Fail |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Fail |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Fail | Pass |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
BlackBull Markets vs FXCM: Frequently Asked Questions
BlackBull Markets and FXCM share the same editorial score of 4.1/5. The right choice depends on your priorities: trading costs, platform preference, or regulatory coverage.
BlackBull Markets offers tighter spreads starting from 0 pips, compared to FXCM's spreads from 0.4 pips. Tighter spreads lower the cost per trade, particularly valuable for high-frequency and scalping strategies.
BlackBull Markets has a lower minimum deposit of no minimum required, while FXCM requires at least $50. This makes BlackBull Markets more accessible for traders with limited starting capital.
Both BlackBull Markets and FXCM hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Both are considered safe. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners: BlackBull Markets has a lower minimum deposit (no minimum), lowering the barrier to entry; both brokers offer negative balance protection. Also weigh up educational resources and customer support quality before deciding.
BlackBull Markets offers maximum leverage of 500:1, while FXCM offers up to 400:1. Available leverage varies by account type, instrument, and jurisdiction. Higher leverage amplifies both potential profits and losses. Always use appropriate risk management.
BlackBull Markets charges $6 per lot on commission-based accounts. Commission details for the other broker are not currently available. Check their website for up-to-date pricing.
BlackBull Markets supports MetaTrader 4, TradingView, MetaTrader 5, DXtrade, cTrader and FXCM offers MetaTrader 4, Proprietary Web/Mobile, NinjaTrader; both support MetaTrader 4; BlackBull Markets exclusively offers TradingView, MetaTrader 5, DXtrade, cTrader; FXCM exclusively offers Proprietary Web/Mobile, NinjaTrader.
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Score 4.1 / 5
Score 4.1 / 5
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