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In the fast-paced world of forex trading, choosing the right broker is crucial. BlackBull Markets and Fondex are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.
The radar chart above illustrates the comparison between BlackBull Markets and Fondex across several key metrics, with the highest possible score being 100 in each category.
At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated BlackBull Markets and Fondex, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.
Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses. We also consider numerous factors when deciding which tier a regulator belongs to. Regulators that we rank as the world’s top regulators, gets a tier 1 rank, while regulators who only scores a tier 5-rank, provide virtually no regulatory oversight. The more top-tier authorities regulating a broker, the higher its trust rating. Read more about regulation and our tier system here.
In our comparison:
Based on these findings, Fondex earned a higher trust rating than BlackBull Markets.
When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.
We found that Fondex has overall lower trading costs than BlackBull Markets.
Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.
Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both BlackBull Markets and Fondex offer copy trading.
A broader range of CFD instruments provides more trading opportunities. Fondex offers a greater variety of instruments compared to BlackBull Markets:
For those interested in trading cryptocurrencies, Fondex offers 11 cryptocurrencies, while BlackBull Markets offers 10 cryptocurrencies. Therefore, Fondex is the better choice for cryptocurrency trading.
Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that BlackBull Markets charges a withdrawal fee and Fondex does not. Overall, BlackBull Markets has better deposit and withdrawal processes than Fondex.
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
BlackBull Markets has better educational support than Fondex. Both BlackBull Markets and Fondex offer educational support for more experienced traders.Access to frequent and high-quality market research and analysis is crucial.
We found that BlackBull Markets offers better research analysis than Fondex and that both BlackBull Markets and Fondex offer frequent webinars.
Founded in New Zealand in 2014, BlackBull Markets is an ECN-only broker that offers trading on a limited number of assets compared to most other brokers, including Forex, commodities, and indices.
While BlackBull Markets offers a range of accounts for beginners and more experienced traders, trading costs are higher than those of other brokers on its entry level commission-free account, with average spreads of 1.2 pips on the EUR/USD. Trading costs improve on its Prime and Institutional Accounts, with spreads down to 0.1 pips (EUR/USD), but this is in addition to a commission and high minimum deposit requirements of 2,000 USD and 20,000 USD respectively.
BlackBull Markets provides direct market access on the MT4 and MT5 trading platforms and offers a number of useful trading tools, including a VPS service, FIX API and copy trading through third-party providers Zulutrade and Myfxbook Autotrade, but these are available at an additional cost.
Finally, BlackBull Markets’ educational and market analysis materials are limited compared to most other brokers, forcing traders to self educate elsewhere, but unlike most other brokers it offers personalised customer service.
As of December 2022, Fondex has ceased operations and no longer accepts new clients. This review is for informational purposes only.
Established in 2011, Fondex provides an optimal trading environment for traders looking for a wide range of tradeable assets and low trading costs on the cTrader platform.
An unusual broker, Fondex only offers support for the cTrader platform, which may be an instant turn-off for many traders, especially those who have a long history with Metatrader, but it offers some of the best trading conditions in the industry. Fondex's single live commission-free account has no minimum deposit requirements and spreads that average at 0.28 pips on the EUR/USD, a lower trading cost than most other brokers. cTrader is a powerful and feature-rich alternative to MetaTrader’s platforms, with a built-in copy trading function and advanced automation tools.
Trading is offered on multiple assets, including 80 FX pairs, over 900 equities, 11 cryptocurrency pairs, and a wide range of indices, metals, energies, and ETFs. Fondex's educational and market analysis materials are comprehensive and in-depth, but unstructured, making it difficult to find what you are looking for.
For more detailed reviews, please read our comprehensive assessments of BlackBull Markets and Fondex.
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Broker | Countries Regulated | Minimum Spread EUR/USD | Minimum Deposit | Trading cost/lot EURUSD Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission. | Broker Score | Broker Website | Select and Compare |
|---|---|---|---|---|---|---|---|
 |      | 0.10 pips | USD 3 | USD 7 | |||
 |     | 0 pips | USD 0 | USD 10 | |||
 | | 0 pips | USD 0 | USD 10 | |||
 |      | 0.60 pips | USD 0 | USD 6 | |||
 |    | 0.90 pips | USD 100 | USD 9 | |||
 | | 0.40 pips | USD 100 | USD 14 | |||
 |  | 0.70 pips | USD 5 | USD 7 | |||
| | 0.60 pips | USD 5 | USD 6 | |||
 | | 0.10 pips | USD 200 | USD 8 | |||
 | | 0.70 pips | USD 10 | USD 17 |
Select another broker to another broker to compare features, fees, and platforms side by side.
Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.
The FxScouts podcast helps beginner Forex traders get the best start to their trading careers.
