BlackBull Markets vs XM: which broker is better in 2026?
We compare BlackBull Markets and XM — two forex & CFD brokers — side by side across regulation, fees, platforms, minimum deposit, and our editorial scores. Both score evenly overall — the right choice depends on which criteria matter most to you.
Side-by-side comparison
CriteriaBlackBull MarketsXM
Overall score 3.6 3.6
Regulation & safety 3.0 3.0
Fees & deposit 4.0 3.5
Platform & assets 4.0 4.0
User support 3.5 4.0
Trust score70/10069/100
Minimum depositVaries by account type — check the official siteVaries by account type — check the official site
Demo accountAvailableAvailable
PlatformsMetaTrader 4, MetaTrader 5, cTrader, TradingViewMetaTrader 4, MetaTrader 5, XM app
Fee modelPrime/ECN raw account; low spreadsStandard / ultra-low spread; figures vary
Pros & cons
- Fast ECN execution & low spreads (Prime account)
- Wide platform selection (MT4/MT5/cTrader/TradingView)
- Regulated by New Zealand's FMA
- The NZ FMA is considered less strict than tier-1 FCA/ASIC
- Many clients via the Seychelles entity
- Leverage is high-risk
- Very large client base, strong multilingual education & support
- MT4/MT5 + many instruments
- CySEC license for the EU entity
- Many retail clients via the offshore entity (Belize) — weaker protection
- Standard spread is not the cheapest
- Leverage is high-risk
Regulation at a glance
BlackBull Markets
New Zealand (2014) — regulated by the FMA (New Zealand), FSA (Seychelles). ECN execution focus.
XM
Trading Point group — regulated by CySEC (Cyprus), ASIC (historically), DFSA (Dubai), FSC (Belize), FSCA (South Africa). Many retail clients via the offshore entity (Belize).