BlackBull Markets, a New Zealand-headquartered Forex broker and FinTech company, offers clients ECN/NDD execution with deep liquidity through the MT4/MT5 and TradingView trading platforms, upgraded with the Autochartist plugin. It also delivers actionable trading signals for a monthly fee while education remains free of charge. BlackBull Markets also supports social trading via market leaders ZuluTrade and Myfxbook Autotrade plus newcomer HokoCloud.
Pepperstone upgrades its MT4/MT5 platforms with its Smart Trader Tools package. Traders may also use cTrader, and Pepperstone added Capitalise AI, a code-free environment to automate trading. Social trading support exists via Myfxbook Autotrade and DupliTrade, plus embedded solutions in all three trading platforms.
We have conducted an in-depth review of BlackBull Markets and Pepperstone to determine which presents the better overall choice and which traders will benefit the most at either broker.
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- Pepperstone versus BlackBull Markets - Verdict
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Headquarters | New Zealand | Australia |
Regulators | FMA, FSA | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2014 | 2010 |
Execution Type(s) | ECN/STP, No Dealing Desk | No Dealing Desk, NDD |
Minimum Deposit | $0 | $0 |
Negative Balance Protection | N/A | |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, cTrader, Trading View | Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+ |
Average Trading Cost EUR/USD | 1.3 pips | 1.1 pips |
Average Trading Cost GBP/USD | 2.0 pips | 1.4 pips |
Average Trading Cost WTI Crude Oil | $0.03 | $2.50 |
Average Trading Cost Gold | $0.90 | $0.15 |
Retail Loss Rate | Undisclosed | 74-89% |
Minimum Raw Spreads | 0.0 pips | 0.0 pips |
Minimum Standard Spreads | 0.8 pips | 1.0 pips |
Minimum Commission for Forex | $6.00 per round lot | 6.00 per round lot (cTrader) / $7.00 per round lot (MT4/MT5) |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Visit Website | Visit Website 75-95% of traders on margin lose |
Features and Platforms
N/A N/A Visit Website Visit Website 75-95% of traders on margin lose
Noteworthy:
Both brokers offer VPS hosting for algorithmic traders and access to deep liquidity, making them ideal for scalpers and high-frequency traders, where BlackBull Markets maintains an edge.
Available Markets
N/A N/A N/A N/A Visit Website Visit Website 75-95% of traders on margin lose
While Pepperstone maintains a well-balanced asset selection of 1,200+ assets, BlackBull Markets ranks among the Top 5 industry-wide with 23,000+ equity CFDs and the underlying assets for direct share dealing from 80+ global stock exchanges. Forex traders get 60+ currency pairs and limited cryptocurrency pairs at both brokers, and Pepperstone adds ETFs.
Typical Spreads and Fees
1.3 pips 1.1 pips 2.0 pips 1.4 pips $0.03 $2.50 $0.90 $0.15 $24 25 0.0 pips 0.0 pips 0.8 pips 1.0 pips $6.00 per round lot 6.00 per round lot (cTrader) / $7.00 per round lot (MT4/MT5) No $0 Visit Website Visit Website 75-95% of traders on margin lose
BlackBull Markets shines with its pricing environment for Institutional ECN accounts requiring a minimum deposit of $20,000, placing it among the cheapest brokers industry wide. The ECN Prime alternative and the Pepperstone Razor account are nearly equally competitive, but BlackBull Markets offers lower equity costs.
Security and Trust
New Zealand, Seychelles United Arab Emirates, Australia, The Bahamas, Cyprus, Germany, Kenya, United Kingdom FMA, FSA ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB 403326, SD045 414530, 91279, 128, 388/20, F004356, 684312, F217 Visit Website Visit Website 75-95% of traders on margin lose
Both brokers segregate client deposits from corporate funds at Tier 1 banks and offer negative balance protection. Pepperstone complies with more regulators, including two offering an investor compensation fund. BlackBull Markets and Pepperstone belong to the most secure, reliable, and trusted brokers with a spotless operational track record.
Pepperstone vs BlackBull Markets – Verdict
Pepperstone
| Pros | Cons |
| Excellent choice of trading platforms consisting of MT4/MT5, and cTrader | Minimum deposits are slightly higher but within a reasonable range |
| Market-leading MT4/MT5 upgrade package, Autochartist, and API trading | |
| Social trading support via Myfxbook, MetaTrader Signals, and DupliTrade | |
| Leverage of up to 1:500 and superb trade execution |
BlackBull Markets
| Pros | Cons |
| ECN/NDD execution model with deep liquidity | Limited deposit options |
| Institution-grade pricing for retail traders via proprietary price aggregation | |
| ZuluTrade and Myfxbook for social trading | |
| Leverage of up to 1:500 |
Deep liquidity, a balanced asset selection, and superb order execution exist at BlackBull Markets and Pepperstone, alongside quality education for beginners. Both brokers maintain low trading costs and fully support algorithmic and social trading. BlackBull Markets takes the lead due to its significantly broader choice of equity-focused trading instruments, lower trading costs for demanding traders, access to the TradingView community, and actionable trading signals.
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