BlackBull vs IC Markets - Trading Brokers Comparison

BlackBull vs IC Markets | Online Brokerage Comparison

BlackBull Markets vs IC Markets Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarkets
$200MT460+
$200MT4, MT5, cTrader230+

BlackBull vs IC Markets Comparison

These are both ECN brokers, using pools of liquidity providers to find prices for traders, delivered on ECN trading platforms utilising Equinix infrastructure for high speed order processing. Both offer MT4, but IC Markets also provides MT5 and cTrader.

IC Markets has a relatively large number of markets for an ECN broker, as it offers Stocks CFDs, but BlackBull has a competitive number for an ECN broker (230+ vs 60+).

Both have the same minimum deposit, but to access BlackBull's ECN trading account (versus its STP account), requires a higher minimum deposit than to access IC Markets's ECN account ($2000 vs $200).

ECN trading conditions

Each can offer STP accounts which do not charge commissions and ECN accounts which do and utilise multiple liquidity providers and Equinix data centres.

Quick comparison

These are ECN brokers. Both offer MT4, IC Markets also provides MT5 and cTrader. For ECN trading, BlackBull has a higher minimum deposit.

Minimum deposit and account types

The minimum deposit for BlackBull is $200. The minimum deposit for IC Markets is $200.

  • BlackBull offers an ECN Standard account with a minimum deposit of $200 and an ECN Prime account with a minimum deposit of $2000. It has an Islamic account for each of these account types. BlackBull also offers an ECN Institutional account with a minimum deposit of $20,000. The minimum trade size is 0.01 lots. BlackBull offers an FX Academy and Market Analysis on its site.
  • BlackBull's ECN Standard does not have a commission charge, thus can offer higher spreads compared with its other accounts which charge commissions.
  • IC Markets offers four account types. These are Standard, True ECN, Islamic (Swap Free) and the cTrader ECN account. IC Markets provides Forex news, video tutorials and and economic calendar on its website. IC Markets uses Equinix NY4 and London LD5 Servers to deliver low latency trading conditions and has micro lot trading.
  • IC Markets's Standard account does not charge a commission, but the True ECN account charges a commission. The cTrader ECN also charges commissions. IC Markets says that the True ECN and cTrader accounts are more suited to EAs and Scalpers, but all trading styles are welcome on each account type.

Markets

  • BlackBull offers Forex, Indices, Energy, Cryptocurrencies and Precious Metals, with 60+ available.
  • IC Markets offers Forex, Indices, Energy, Cryptocurrencies, Precious Metals, Stocks, Soft Commodities, ETFs and Bonds, with 230+ available.

BlackBull provides 35+ Forex pairs, IC Markets provides 60+ Forex pairs.

Cryptocurrency CFDs

  • BlackBull offers Bitcoin, Ethereum, Litecoin and Dash.
  • IC Markets provides Bitcoin, Ethereum, Litecoin, Dash, Ripple, Bitcoin Cash, Emercoin, Namecoin, Peercoin and EOS.

Spreads and leverage

  • Both brokers offer spreads from 0 plus a commission charge and higher spreads without a commission charge, from 0.8 for BlackBull and 1 for IC Markets.

Maximum leverage for BlackBull is 500:1. Maximum leverage for IC Markets (ASIC regulated) is 500:1.

Commissions

  • BlackBull charges commission of $3 per lot per side on its ECN Prime account. For its ECN Institutional account, commissions are negotiable.
  • IC Markets charges a commission of $3.50 per lot per side for the True ECN account and the cTrader account charges a commission of $3 per 100,000 USD traded per side. Commissions are charged only for Forex and Metals.

Platforms

Both brokers provide MT4. IC Markets additionally offer MT5 and cTrader.

Why BlackBull or IC Markets ?

Both offer ECN trading and accounts which provide raw spreads, to which a commission charge is added. Their infrastructure and trading platforms support automated trading strategies. Both can be used by traders who do not use robots, but wish to use no dealing desk fast order processing (and can use STP accounts if they wish which do not charge commissions). BlackBull has a higher minimum deposit to use an ECN account. IC Markets has a wider range of CFD markets available, which includes Stocks CFDs, letting it offer more markets than BlackBull.

Comparison summary

  • These are ECN brokers
  • Each also offers STP accounts
  • Both have the same minimum deposit for STP trading
  • BlackBull has a higher minimum deposit for ECN trading
  • IC Markets has more markets to trade (230+ vs 60+)
  • BlackBull has a competitive number of markets for an ECN broker
  • Each locates trading servers in Equinix data centres
  • Both offer MT4
  • IC Markets also has MT5 and cTrader

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