| Feature | XM Trading | BlackBull Markets |
|---|---|---|
| Year Founded | 2009 | 2014 |
| Headquarters | Limassol, Cyprus | Auckland, New Zealand |
| Regulation | ASIC (Australia), CySEC (Cyprus), DFSA (Dubai), FCA (UK), FSA (Seychelles), IFSC (Belize) | FMA (New Zealand), FSA (Seychelles) |
| Minimum Deposit | $5 | $0 |
| Maximum Leverage | 0.73611111111111 | 0.38888888888889 |
| Trading Platforms | MetaTrader 4, MetaTrader 5, XM Proprietary Platform | MetaTrader 4, MetaTrader 5, cTrader, TradingView |
| Account Types | Standard, Micro, Ultra-Low, Shares | ECN Standard, ECN Prime, ECN Institutional |
| Average EUR/USD Spread | 0.8 pips | 0.9 pips |
| Commission Fees | None (spread-only) | $6 per lot (round turn) on Prime account |
| Tradable Instruments | Forex, Commodities, Indices, Stocks, Cryptocurrencies | Forex, Commodities, Indices, Stocks, Cryptocurrencies |
| Number of Currency Pairs | 55 | 72 |
| Number of Stock CFDs | 1,261 | 26,000+ |
| Deposit Methods | Bank Transfer, Credit/Debit Card, Neteller, Skrill, UnionPay, WebMoney, XM Card, M-Pesa | Bank Transfer, Credit/Debit Card, Neteller, Skrill, UnionPay, Crypto, FasaPay, POLi, Boleto |
| Withdrawal Fees | None | $5 |
| Inactivity Fees | Yes, after 90 days of inactivity | No |
| Educational Resources | Extensive webinars, tutorials, e-books, trading courses | Limited educational materials |
| Customer Support | 24/7 support via live chat, email, and phone | 24/5 support via live chat, email, and phone |
| Order Execution Type | Market Execution | ECN Execution |
| Order Execution Speed | ~0.3 seconds | ~0.2 seconds |
| Slippage Protection | Negative balance protection, No re-quotes | Negative balance protection, No re-quotes |
| Stop-Out Level | 20% (Standard), 50% (Ultra-Low) | 40% |
| Margin Call Level | 50% | 100% |
| Scalping Allowed | Yes | Yes |
| Hedging Allowed | Yes | Yes |
| Algo/Automated Trading | Yes (MT4 & MT5 EAs allowed) | Yes (MT4, MT5, cTrader) |
| Social Trading/Copy Trading | Yes (via XM Copy Trading) | Yes (via Myfxbook, ZuluTrade) |
| Islamic (Swap-Free) Accounts | Yes | Yes |
| Crypto Trading | Yes (limited pairs) | Yes (broader selection) |
| Fractional Lot Trading | Yes (Micro accounts) | Yes |
| Guaranteed Stop Loss | No | No |
| Bonus & Promotions | $30 no-deposit bonus, Deposit bonuses, Loyalty program | No deposit bonus, occasional promotions |
| VIP/Loyalty Programs | Yes (Loyalty Points for active traders) | No |
| Corporate/Institutional Accounts | Yes | Yes |
| Spreads on Commodities (Gold & Oil) | Gold: 0.35, Oil: 0.03 | Gold: 0.30, Oil: 0.02 |
| Index CFD Spread (S&P 500) | 0.5 points | 0.4 points |
| Mobile Trading Apps | Yes (MT4, MT5, XM App) | Yes (MT4, MT5, cTrader, TradingView) |
| VPS Hosting | Free for eligible traders | Free for ECN Prime & Institutional traders |
| Server Location | Multiple (London, New York, Cyprus) | New York, London, Tokyo |
| Account Base Currencies | USD, EUR, GBP, JPY, AUD, ZAR, CHF, SGD, PLN | USD, EUR, GBP, JPY, AUD, NZD, CAD, SGD |
| Multi-Account Manager (MAM/PAMM) | Yes | Yes |
| Affiliate & IB Program | Yes | Yes |
| Deposit Processing Time | Instant for most methods | Instant for most methods |
| Withdrawal Processing Time | 24 hours | Same day for verified accounts |
| Trading Instruments Count | 1,500+ | 26,000+ |
| Stock Exchange Access | No direct exchange access (only CFDs) | Direct access to global stock exchanges |
| Trading Account Segregation | Yes (funds held in tier-1 banks) | Yes (funds held in ANZ Bank, New Zealand) |
| Deposit Insurance | Yes (up to €20,000 via CySEC ICF) | Yes (up to NZD 100,000 via FMA) |
| ECN/STP Model | STP (Straight Through Processing) | ECN (Electronic Communication Network) |
| DMA (Direct Market Access) | No | Yes (for institutional accounts) |
| Account Opening Time | Within 24 hours | Within 24 hours |
| Trading Signals | Yes (via MQL5, Trading Central) | Yes (via Myfxbook, AutoChartist) |
| Market Depth (Level 2 Quotes) | No | Yes |
| Commission-Free Trading | Yes (on Standard & Micro accounts) | No (except for Standard ECN) |
| Swap-Free Holding Period | Unlimited (for Islamic accounts) | 7 days (before swap charges apply) |
| Advanced Charting Tools | Yes (MetaTrader with add-ons) | Yes (MetaTrader, cTrader, TradingView) |
| Institutional Liquidity Providers | Tier 1 banks & liquidity providers | Direct bank liquidity from multiple providers |
| Number of Indices Available | 14+ | 23+ |
| Number of Commodities Available | 10+ | 15+ |
| Leverage for Professional Traders | Up to 1:1000 | Up to 1:500 |
| Execution Transparency | High, but STP model | High, with ECN pricing |
| Market News & Insights | Yes, daily market analysis | Yes, advanced market insights |
| Trading Volume Discount | No | Yes (for high-volume traders) |
| Algo Trading Support | Yes (MT4/MT5 EAs) | Yes (MT4, MT5, cTrader, FIX API) |
| FIX API Access | No | Yes |
| One-Click Trading | Yes | Yes |
| Trailing Stop Orders | Yes | Yes |
| OCO (One-Cancels-the-Other) Orders | No | Yes |
| Demo Account Expiry | 90 days (if inactive) | No expiry |
| Exclusive Trading Tools | Yes (XM Research, Trading Central) | Yes (AutoChartist, Myfxbook) |
| Web Trading Platform | Yes (MT4/MT5 WebTrader) | Yes (MT4, MT5, cTrader, TradingView) |
| Account Currency Conversion Fees | Yes (for non-supported currencies) | Yes (but lower conversion rates) |
| Minimum Lot Size | 0.01 lots | 0.01 lots |
| Maximum Trade Size | 50 lots | 100 lots |
| Max Open/Pending Orders | 200 positions | Unlimited |
| Pending Order Types | Buy/Sell Limit, Buy/Sell Stop | Buy/Sell Limit, Buy/Sell Stop, Stop-Limit |
| VIP Account Manager | Yes (for high-net-worth clients) | Yes (for high-net-worth clients) |
| Bank Wire Deposit Time | 2–5 business days | 1–3 business days |
| Bank Wire Withdrawal Time | 2–5 business days | 1–3 business days |
| Crypto Deposit/Withdrawal | No | Yes (Bitcoin, Ethereum, USDT, etc.) |
XM Trading is a well-regulated broker with low spreads, commission-free trading, and excellent educational resources, while BlackBull Markets offers a true ECN experience, direct stock trading, and advanced trading tools. Both have strong platforms, but BlackBull suits high-volume traders, and XM is ideal for beginners.