Written by ForexBrokers.com
In this head to head comparison of OANDA vs BlackBull Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
OANDA and BlackBull Markets are online brokers with different histories and footprints. OANDA, founded in 1996, is not publicly traded and is not a bank; BlackBull Markets, founded in 2014, is also privately held and not a bank.
Their regulation and trust profiles differ notably. OANDA holds 7 Tier-1 licenses and 0 Tier-2 licenses, while BlackBull Markets holds 1 Tier-1 license and 0 Tier-2 licenses (Tier-1 is considered highly trusted by ForexBrokers.com). On the ForexBrokers.com scale, 90–99 is highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and under 59 not trusted. OANDA’s Trust Score is 92/99 (highly trusted); BlackBull Markets scores 77/99 (average risk).
| Feature |
OANDA
|
BlackBull Markets
|
|---|---|---|
| Year Founded | 1996 | 2014 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
OANDA and BlackBull Markets both offer different fee setups, but BlackBull Markets comes out ahead on overall trading costs. OANDA’s commissions and fees are generally on the higher side, with average EUR/USD spreads of 1.61 pips on its standard pricing in July 2024. Its core pricing can lower spreads, but it adds a commission of $5 per side per $100,000 traded, and the account requires a $10,000 minimum deposit. OANDA is also known for very small trade sizes, plus rebates for active traders in some regions. It is rated 4 stars and ranked #31 out of 36 brokers for commissions and fees.
BlackBull Markets has more flexible pricing across its three account types. The Standard account has no commission and no minimum deposit, but spreads are wider. The Prime account is usually the better value, with an average EUR/USD spread of 0.16 and an all-in cost of about 0.76 after commission, though it requires a $2,000 minimum deposit and charges $3 per side. For larger-volume traders, the ECN Institutional account offers even lower commission rates, with a $20,000 minimum deposit. BlackBull Markets is rated 4.5 stars and ranked #9 out of 36 brokers for commissions and fees.
In simple terms, OANDA may suit traders who want tiny trade sizes and useful pricing transparency, while BlackBull Markets is the stronger choice for lower trading costs, especially if you plan to trade more actively. If fees are your top concern, BlackBull Markets has the edge overall.
| Feature |
OANDA
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.68 | 1.16 |
| All-in Cost EUR/USD - Active | 1.69 | 0.76 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
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When it comes to range of investments, both OANDA and BlackBull Markets give traders access to forex as a CFD or spot contract, along with U.S. and international exchange-traded securities and copy trading. OANDA offers 4,172 tradeable symbols and 69 forex pairs, while BlackBull Markets lists a much larger selection with 26,000 tradeable symbols and 72 forex pairs. Both brokers also support cryptocurrency CFDs, but only OANDA lets clients buy actual cryptocurrency, not just a CFD.
For investors who want more choice across markets, BlackBull Markets has the wider menu overall and is rated higher for range of investments, with 5 out of 5 stars and a ForexBrokers.com ranking of #7 out of 36 brokers. OANDA still offers a solid selection and earns 4.5 stars, but it ranks #20 out of 36 in this category. If your main priority is the largest available range of tradable products, BlackBull Markets has the edge.
| Feature |
OANDA
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 26000 |
| Forex Pairs (Total) | 69 | 72 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | Yes | No |
| Cryptocurrency (CFDs) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
OANDA and BlackBull Markets both give traders a solid mix of platform choices and trading tools. Each broker offers a free demo account, web-based trading, Windows desktop downloads, copy trading, MetaTrader 4 (MT4), and MetaTrader 5 (MT5). Both also let users trade directly from charts, which is helpful for quicker order entry. For Trading Platforms and Tools, each broker is rated 4 out of 5 stars, showing that both are well regarded in this area.
The biggest difference is that OANDA also has its own proprietary platform, while BlackBull Markets does not. That may matter for traders who want an in-house platform experience instead of relying only on third-party software like MT4 or MT5. In ForexBrokers.com’s ranking of 36 brokers, OANDA places higher at #16 compared with BlackBull Markets at #25, giving OANDA a slight edge for overall platform and tool quality.
| Feature |
OANDA
|
BlackBull Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 89 | 109 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
OANDA and BlackBull Markets both make it easy to trade on the go with iPhone and Android apps, plus price alerts for stocks or forex. Each app also gives traders 30 technical studies, trendline drawing tools, and automatic saving for chart drawings, so both platforms cover the basics well for mobile charting and trade tracking.
The main difference is watchlist syncing and overall app quality. BlackBull Markets lets watchlists sync between its mobile app and online account, while OANDA does not. On ratings, OANDA comes out ahead with a 5-star Mobile Trading Apps score and a #7 ranking out of 36 brokers, compared with BlackBull Markets at 4 stars and #28. For traders who want the stronger mobile experience, OANDA has the edge, but BlackBull Markets offers the useful benefit of synced watchlists.
| Feature |
OANDA
|
BlackBull Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, OANDA and BlackBull Markets both give traders useful day-to-day insights. Each broker offers daily market commentary, Autochartist tools, sentiment data, and an economic calendar to help track global events. That means both platforms can support traders who want a quick view of market trends, possible trade setups, and upcoming news that may move prices.
OANDA has the edge for research depth because it also provides forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones, while BlackBull Markets does not. This extra news access helps OANDA stand out for traders who want more in-depth market coverage. That advantage is reflected in the ratings too: OANDA earns 5 stars for Research and ranks #4 out of 36 brokers at ForexBrokers.com, while BlackBull Markets is rated 4.5 stars and ranks #17.
| Feature |
OANDA
|
BlackBull Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
OANDA and BlackBull Markets both give beginners plenty of ways to learn before placing trades. Each broker offers forex or CFD education with at least 10 learning pieces, plus monthly client webinars and a large library of beginner and advanced videos. That means new traders can find the basics as well as more detailed lessons on trading topics. In simple terms, both brokers make it easy to start building knowledge through articles, videos, and live online sessions.
When it comes to education quality, OANDA has the edge. OANDA is rated 5 stars for Education and ranks #18 out of 36 brokers at ForexBrokers.com, while BlackBull Markets is rated 4.5 stars and ranks #24. For beginners looking for the stronger learning experience, OANDA stands out slightly more, though BlackBull Markets still offers a solid range of educational tools.
| Feature |
OANDA
|
BlackBull Markets
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that OANDA is better than BlackBull Markets. OANDA finished with an overall rank of #13, while BlackBull Markets finished with an overall rank of #22.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
| Feature |
OANDA
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BlackBull Markets
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|---|---|---|
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| Trust Score | 92 | 77 |
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In the OANDA vs BlackBull Markets comparison, OANDA supports buying actual (delivered) cryptocurrency as well as crypto CFDs, whereas BlackBull Markets offers crypto CFDs only and does not provide access to real, delivered cryptocurrencies.
OANDA vs BlackBull Markets: for deposits and withdrawals, both brokers support ACH/SEPA transfers, Skrill, and bank wires; only OANDA offers PayPal (BlackBull Markets does not); Visa/Mastercard availability is not specified for either.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | OANDA | BlackBull Markets | |
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| Trust Score | 92 | 77 | |
| Winner | check_circle | ||
| Review | OANDA Review | BlackBull Markets Review |
| Broker Screenshots | OANDA | BlackBull Markets | |
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| Regulation | OANDA | BlackBull Markets | |
|---|---|---|---|
| Trust Score | 92 | 77 | |
| Year Founded | 1996 | 2014 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | OANDA | BlackBull Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | OANDA | BlackBull Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | OANDA | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4172 | 26000 | |
| Forex Pairs (Total) | 69 | 72 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | Yes | No | |
| Cryptocurrency (CFDs) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | OANDA | BlackBull Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.68 | 1.16 | |
| All-in Cost EUR/USD - Active | 1.69 | 0.76 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | OANDA | BlackBull Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | OANDA | BlackBull Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | Yes |
| Trading Tools | OANDA | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 89 | 109 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | BlackBull Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | OANDA | BlackBull Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | BlackBull Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | OANDA | BlackBull Markets | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | OANDA Review | BlackBull Markets Review |
| Overall | OANDA | BlackBull Markets | |
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| Trust Score | 92 | 77 | |
| Winner | check_circle | ||
| Review | OANDA Review | BlackBull Markets Review |
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