BlackBull Markets
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74-89% of retail CFD accounts lose money.

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OctaFX
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BlackBull Markets Vs. OctaFX - Compare and Choose the Right One

Updated Jun 30 2022

Visit

74-89% of retail CFD accounts lose money.

Visit

Your capital is at risk.

Overview

BlackBull Markets is a global broker headquartered in New Zealand founded in 2014 that specialises in providing CFDs based on shares, commodities, currencies and indices.

OctaFX is an international FX broker operating as an incorporated company from St. Vincent and the Grenadines specialising in currencies trading via MetaTrader 4 & 5.

Best For
  • Experienced currency traders looking for their ECN PRIME account offer with spreads from 0.1 Pips
  • Traders looking for a high leverage off-shore broker
  • New traders looking to experiment using MT4 & 5 with a no commission low-cost broker
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

Other Licenses

1

Provided by
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Financial
Licenses

Regulation

Unregulated

Top-tier Licenses

0

Other Licenses

0

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • FMA (New Zealand)
  • FSAS (Seychelles)
  • Not regulated, Registered in St. Vincent and the Grenadines under IBC 19776.
The Good
  • Competitive spreads in their ECN Prime account (From 0.1 Pips)
  • Wide variety of platforms (MT4, MT5, TradingView and IBKR)
  • Over 23,000 + shares
  • High leverage offered due to no regulatory restrictions
  • MetaTrader 4 & 5 platforms with their own copy trading integration
  • Low minimum deposit
The Bad
  • Their standard asset offering is very low (over 300 instruments)
  • Share trading requires a separate platform with a different onboarding
  • Commissions are above average and share trading fees are a mystery
  • Despite having financial licenses, OctaFX does not operate using them, meaning that they are an unregulated broker.
  • Their asset offering is extremely limited (80 instruments)
Status
Operational Operational
Recent News

No fresh news at the moment. Check again soon!

No fresh news at the moment. Check again soon!

Key Data
⌛ Account Opening Time
1 Day 1 Day
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

📍 Year Founded
2014 2011
💳 Minimum Deposit
From $50 to $2,000 $25
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • FasaPay
  • China UnionPay
  • Skrill
  • Visa
  • Mastercard
  • Maestro
  • Skrill
  • Neteller
  • Bitcoin
  • Ethereum
  • USDT (Tether)
  • Litecoin
  • Dogecoin
  • Bank Transfer
💵 Account Base Currencies
9 - EUR, USD, GBP, NZD, AUD, SGD, ZAR, JPY, CAD. 2 - EUR, USD.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US, CA, SY, IR. US, CA.
📊 STP Account
Yes Yes
📊 DMA Account
No No
📊 ECN Account
Yes Yes
Assets
📚 Available Assets
  • CFDs on shares, currencies, indices, commodities and cryptocurrencies.

CFDs on currencies, commodities, indices and cryptocurrencies.

📙 Stocks
23,000+ N/A
📘 Currency Pairs
64 35
📗 Commodities
15 5
📕 Indices
13 10
📔 ETFs
N/A N/A
💸 Cryptocurrencies
N/A 30
📒 Bonds
N/A N/A
📓 Options
N/A N/A
📗 Futures
N/A N/A
📝 Notes:
All of BlackBull Markets assets are CFDs.

All of OctaFX’s assets are CFDs.

Trading Experience
📈 Minimum Stock Trade Size
N/A N/A
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
N/A $1,000 (0.01 Lots)
📉 Minimum FX Trade Size
$1,000 (0.01 Lots) $1,000 (0.01 Lots)
📈 Minimum Commodities Trade Size
N/A $1,000 (0.01 Lots)
📉 Minimum Bonds Trade Size
N/A N/A
📈 Minimum Futures Trade Size
N/A N/A
📉 Minimum Options Trade Size
N/A N/A
💪 Retail Leverage
Up to 1:500 Up to 1:500
💪 Professional Leverage
N/A N/A
✍ Customisable Leverage
Yes Yes
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
Yes Yes
📱 IOS App
Yes (only for share trading) No
📱 Android App
Yes (only for share trading) Yes
📺 MetaTrader 4
Yes Yes
📺 MetaTrader 5
Yes Yes
💻 Web trader
Yes (MT4 & 5) Yes
💻 TradingView Platform
Yes No
💻 Proprietary Platform
Yes (only for share trading) No
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes Yes
👫 Social Trading
Yes Yes
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
No Yes
Fees
💰 Inactivity Fee
No No
💰 Deposit Fees
No No
💰 Withdrawal Fees

Yes, $5 for card withdrawals and $20 for international bank transfer withdrawals.

No
💰 Commissions
  • ECN Standard has no fees.
  • ECN PRIME has a $6 commission per lot round turn

In the case of share trading, their fees start from NZD $12 per transaction yet they’re not clearly explained anywhere on their website.

No
Spreads
📈 EUR/USD
From 0.4 Pips to 1.61 Pips Dynamic - From 0.6 Pips
📉 SP500
From 5.5 Pips Dynamic - From 20 Pips
📈 GOLD
From 16 Pips Dynamic - From 180 Pips
📉 TSLA (Stock CFD)
Dynamic - Market Spread N/A
📈 XLK (ETF - CFD)
Dynamic - Market spread N/A
📉 BTC
N/A Dynamic - From $57
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
No No
📡 Reuters Feed
No No

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