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Alison Heyerdahl is the Head of Content at FxScouts and a financial writer with extensive experience in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast to help traders make informed, safe decisions.
In the fast-paced world of forex trading, choosing the right broker is crucial. AvaTrade and BlackBull Markets are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.
The radar chart above illustrates the comparison between AvaTrade and BlackBull Markets across several key metrics, with the highest possible score being 100 in each category.
At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated AvaTrade and BlackBull Markets, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.
Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses. We also consider numerous factors when deciding which tier a regulator belongs to. Regulators that we rank as the world’s top regulators, gets a tier 1 rank, while regulators who only scores a tier 5-rank, provide virtually no regulatory oversight. The more top-tier authorities regulating a broker, the higher its trust rating. Read more about regulation and our tier system here.
In our comparison:
Based on these findings, AvaTrade earned a higher trust rating than BlackBull Markets.
When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.
We found that BlackBull Markets has overall lower trading costs than AvaTrade.
Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.
Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both AvaTrade and BlackBull Markets offer copy trading.
A broader range of CFD instruments provides more trading opportunities. BlackBull Markets offers a greater variety of instruments compared to AvaTrade:
For those interested in trading cryptocurrencies, AvaTrade offers 30 cryptocurrencies, while BlackBull Markets offers 10 cryptocurrencies. Therefore, AvaTrade is the better choice for cryptocurrency trading.
Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that BlackBull Markets charges a withdrawal fee and AvaTrade does not. Overall, BlackBull Markets has better deposit and withdrawal processes than AvaTrade.Â
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.Â
AvaTrade and BlackBull Markets both have very good educational support. Both AvaTrade and BlackBull Markets offer educational support for more experienced traders.Access to frequent and high-quality market research and analysis is crucial.
We found that AvaTrade offers better research analysis than BlackBull Markets and that both AvaTrade and BlackBull Markets offer frequent webinars.
As one of the best all-around Forex brokers, AvaTrade will be an attractive choice for most traders. AvaTrade has low trading fees, a wide range of trading instruments, and a choice of four different trading platforms. AvaTrade offers some of the best trading tools in the industry, alongside a world-class selection of educational and market analysis materials.
AvaTrade is also popular for its award-winning mobile app which has great risk management tools and a direct connection to AvaSocial, AvaTrade’s popular social trading system.
One major drawback for Filipino traders considering AvaTrade is that they are onboarded through AvaTrade’s BVI-regulated entity, which means that they are not as well protected as their international counterparts.Â
Founded in New Zealand in 2014, BlackBull Markets is an ECN-only broker that offers trading on a limited number of assets compared to most other brokers, including Forex, commodities, and indices.
While BlackBull Markets offers a range of accounts for beginners and more experienced traders, trading costs are higher than those of other brokers on its entry level commission-free account, with average spreads of 1.2 pips on the EUR/USD. Trading costs improve 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 the MT4 and MT5 trading platforms and offers a number of useful trading tools, including a VPS service, FIX API and copy trading through third-party providers Zulutrade and Myfxbook Autotrade, but these are available at an additional cost.
Finally, BlackBull Markets’ educational and market analysis materials are limited compared to most other brokers, forcing traders to self educate elsewhere, but unlike most other brokers it offers personalised customer service.
For more detailed reviews, please read our comprehensive assessments of AvaTrade and BlackBull Markets.
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Broker | Countries Regulated | Minimum Spread EUR/USD | Minimum Deposit | Trading cost/lot EURUSD Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission. | Broker Score | Broker Website | Select and Compare |
|---|---|---|---|---|---|---|---|
 |     | 0.10 pips | USD 3 | USD 7 | |||
 |     | 0 pips | USD 0 | USD 10 | |||
 | | 0.10 pips | USD 200 | USD 8 | |||
 | | 0.70 pips | USD 10 | USD 17 | |||
 |  | 0 pips | AUD 0 | USD 4.50 | |||
 | | 0.90 pips | USD 100 | USD 9 | |||
|  | 0.60 pips | USD 5 | USD 6 | |||
 | | 0 pips | USD 0 | USD 10 | |||
 | | 0.70 pips | USD 5 | USD 7 | |||
 | | 0 pips | USD 100 | USD 6 |
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Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.
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