Compare Forex Brokers side by side

How do Axi and BlackBull Markets stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare Axi and BlackBull Markets, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does Axi or BlackBull Markets have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that Axi holds three Tier 1 and two Tier 2 licences, and BlackBull Markets holds no Tier 1 and one Tier 2 licences.

Is Axi financially regulated?

Is BlackBull Markets financially regulated?

Based on these findings, Axi earned a higher trust rating than BlackBull Markets.

Does Axi or BlackBull Markets have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that BlackBull Markets has overall lower trading costs than Axi. 

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Broker

Trading Conditions

Base Currencies

EURUSD (Standard)

Trading Cost (Standard)

EURUSD (Best)

GBPUSD (Best)

USDJPY (Best)

Commission

Axi

4.5/ 5

AED, CAD, EUR, GBP, JPY, NZD, PLN, SGD, USD

1.00 pips

USD 10

0.00 pips

0.10 pips

0.10 pips

USD 0

BlackBull Markets

4.5/ 5

USD, EUR, JPY, GBP, CHF, CAD, AUD, NZD, SGD, HKD

0.80 pips

USD 8

0.18 pips

0.66 pips

0.44 pips

USD 0

Does Axi or BlackBull Markets offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, BlackBull Markets offers support for cTrader, MT4, MT5 and TradingView and Axi offers support for MT4. 

Do the brokers offer copy trading?

Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both Axi and BlackBull Markets offer copy trading.

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Broker

Platform Choice

Copy Trading

Platforms

Axi

4/ 5

Yes

MT4

BlackBull Markets

4.5/ 5

Yes

MT4, MT5, cTrader, TradingView

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that Axi offers a greater range and depth of instruments to trade than BlackBull Markets. Axi offers 70 Forex pairs to trade and BlackBull Markets offers 70 Forex pairs to trade.

And what about Cryptocurrencies?

In this case, Axi offers 11 cryptocurrencies while BlackBull Markets offers 10 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with Axi.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that both Axi and BlackBull Markets charges a withdrawal fee. Overall, Axi has better deposit and withdrawal processes than BlackBull Markets. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

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Broker

Beginner Course

Advanced Course

Well Structured Education

Education Quality

Webinars

Axi

Yes

No

Yes

Medium

Yes

BlackBull Markets

Yes

Yes

Yes

High

Yes

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that Axi offers better research analysis than BlackBull Markets and that both Axi and BlackBull Markets offer frequent webinars.

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Broker

Economic Calendar

Autochartist

Trading Central

Trading View

Free VPS

Axi

Yes

Yes

No

No

Yes

BlackBull Markets

Yes

Yes

No

Yes

Yes

Our overall Verdict on Axi

Axi (formerly Axitrader) is an Australian CFD broker regulated by ASIC, the FCA and the DFSA. Axi offers clients CFD trading on Forex, metals, commodities, cryptocurrencies, and indices - a smaller range than most brokers but with a good selection of 70+ Forex pairs. Axi accounts seem to offer clients industry competitive trading costs – the Standard Account (from 1.00 pips EUR/USD), the Pro Account (0.0 pips EUR/USD + 7 USD commission), and the Elite Account (0.0 pips + 3.5 USD commission) – but unnecessarily dodges transparent practices by not publishing average spreads. 

Although Axi limits its platform choice to MT4, it offers traders free use of various powerful platform-integrated technical analysis tools, including Autochartist, MyFxBook and PsyQuation to help experienced traders and serious beginners make better trading choices. At Axi, beginners have access to high-quality, structured learning material and frequent market analysis - though neither the education nor the market research is as good as the best brokers in this space. 

Our overall Verdict on BlackBull Markets

Founded in New Zealand in 2014, BlackBull Markets is an FMA (New Zealand) and Seychelles FSA-regulated ECN broker that offers trading on a substantial number of assets, including Forex, commodities, cryptos, over 26,000 shares, and indices.  

BlackBull Markets offers a range of accounts for beginners and more experienced traders, and trading costs are lower than those of other brokers on its entry level commission-free account, with spreads that start at 0.8 pips on the EUR/USD with no minimum deposit requirement. Trading costs are even lower on its Prime and Institutional Accounts, with spreads down to 0.1 pips (EUR/USD), but this is in addition to a commission and high minimum deposit requirements of 2,000 USD and 20,000 USD respectively.   

BlackBull Markets provides direct market access on MT4, MT5, TradingView, and its own brand-new, user-friendly inhouse trading platform, BlackBull Trade. It also offers a number of useful trading tools, including Autochartist, a VPS service, FIX API, and copy trading through third-party providers Zulutrade and Myfxbook Autotrade, as well as its proprietary platform, Blackbull CopyTrader.

Finally, BlackBull Markets’ educational and market analysis materials are good compared to most other brokers, and it offers personalised customer service, available 24/7.

Which broker has the highest overall rating?