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

Vs.

OvalX
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73.85% of retail CFD accounts lose money.

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

Updated Jun 30 2022

Visit

74-89% of retail CFD accounts lose money.

Visit

73.85% of retail CFD accounts lose money.

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.

OvalX (formerly ETX Capital) offers 60 currency pairs and a wide selection of equities for the beginning and experienced investors with no deposit and withdrawal fees.

Best For
  • Experienced currency traders looking for their ECN PRIME account offer with spreads from 0.1 Pips
  • Forex traders for variety of currencies and high net worth equities
  • Traders seeking commission free equities inside their 250 commission-less selection
  • Traders who want to trade commodity futures and bonds 
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

Other Licenses

1

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

Other Licenses

2

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • FMA (New Zealand)
  • FSAS (Seychelles)
  • FCA (UK)
  • FSCA (South Africa)
  • CySec (Cyprus)
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
  • Commission-free trades for 250 equities
  • Low minimum deposit to open standard account (100£)
  • Wide selection of commodity futures and bonds
  • Decent educational material for market research, including seminars on indices, commodities and currencies
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
  • Doesn’t provide live news feed on standard account
  • No ability to purchase real stocks or ETFs (All assets are CFDs)
  • Expensive commissions on shares (Eg minimum $15 on US shares, 10 € on EU shares)
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 documents (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 1965
💳 Minimum Deposit
From $50 to $2,000 $, €, £ - 100 (Standard) and 10,000 (Premium)
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • FasaPay
  • China UnionPay
  • Skrill
  • Visa
  • Mastercard
  • Maestro
  • Skrill
  • UnionPay
  • Bank Transfer
💵 Account Base Currencies
9 - EUR, USD, GBP, NZD, AUD, SGD, ZAR, JPY, CAD. 3 - EUR, USD, GBP
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US, CA, SY, IR. US, BE, CN, SG, CH
📊 STP Account
Yes No
📊 DMA Account
No No
📊 ECN Account
Yes No
Assets
📚 Available Assets
  • CFDs on shares, currencies, indices, commodities and cryptocurrencies.
  • CFDs on currencies, bonds, indices, shares, ETFs, commodities and cryptocurrencies.
  • 📙 Stocks
    23,000+ 5,000 CFDs (250 are commission free)
    📘 Currency Pairs
    64 60
    📗 Commodities
    15 17
    📕 Indices
    13 20
    📔 ETFs
    N/A 19
    💸 Cryptocurrencies
    N/A 5
    📒 Bonds
    N/A 8
    📓 Options
    N/A N/A
    📗 Futures
    N/A 45
    📝 Notes:
    All of BlackBull Markets assets are CFDs.

    OvalX offers CFDs, spread betting and futures.

    Trading Experience
    📈 Minimum Stock Trade Size
    N/A 1 Share
    📉 Minimum ETFs Trade Size
    N/A 1 ETF
    📈 Minimum Crypto Trade Size
    N/A Varies by Cryptocurrency (Eg: 0.01 BTC)
    📉 Minimum FX Trade Size
    $1,000 (0.01 Lots) $1,000 (0.01 lots)
    📈 Minimum Commodities Trade Size
    N/A Varies per commodity (Eg 0.1 for WTI, 1 for Cotton)
    📉 Minimum Bonds Trade Size
    N/A 1 unit
    📈 Minimum Futures Trade Size
    N/A Varies per futures contract (Eg: 0.1 Copper, 1 for Bonds)
    📉 Minimum Options Trade Size
    N/A N/A
    💪 Retail Leverage
    Up to 1:500 Up to 1:30
    💪 Professional Leverage
    N/A Up to 1:500
    ✍ Customisable Leverage
    Yes No
    🎲 Deleveraged Trading
    Yes No
    🎓 Demo Account
    Yes Yes
    📱 IOS App
    Yes (only for share trading) Yes
    📱 Android App
    Yes (only for share trading) Yes
    📺 MetaTrader 4
    Yes Yes
    📺 MetaTrader 5
    Yes No
    💻 Web trader
    Yes (MT4 & 5) Yes
    💻 TradingView Platform
    Yes No
    💻 Proprietary Platform
    Yes (only for share trading) Yes
    📊 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.

    Yes, depending on asset class. (Eg: U.S shares have a 2 cents per share charge with a minimum of $15 per order, European shares have a 0.1% of transaction value charge with a minimum 10 € charge)

    Spreads
    📈 EUR/USD
    From 0.4 Pips to 1.61 Pips Dynamic - From 0.6 Pips
    📉 SP500
    From 5.5 Pips Dynamic - From 60 Pips
    📈 GOLD
    From 16 Pips Dynamic - From 60 Pips
    📉 TSLA (Stock CFD)
    Dynamic - Market Spread Dynamic - From $13
    📈 XLK (ETF - CFD)
    Dynamic - Market spread N/A
    📉 BTC
    N/A Dynamic - Eg. $226.4
    Research and Analysis
    ⭐ Watchlists
    Yes Yes
    🔭 Stock Screener
    No No
    🗓 Economic Calendar
    Yes No
    📜 Integrated Newsfeed
    No No
    📡 Reuters Feed
    No No

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