Head to head

BlackBull Markets vs Skilling — which broker is better?

BlackBull Markets or Skilling? Fees, regulation, platform and product range compared side by side — with a verdict drawn from the data.

Risk warning: CFDs and leveraged products are complex instruments and come with a high risk of losing money rapidly. Investments can fall in value. Past performance is not an indicator of future results.

BlackBull Markets

A New Zealand ECN broker with excellent platforms, real institutional plumbing — and no investor compensation anywhere.

3.7

Group index 73/100Protection depends on your legal entity

FMAFSA

Stocks (per order): US$0.02/share (CFD)
Minimum deposit: None
EUR/USD spread: 1.16 pips

Visit broker Full review

Skilling

A Scandinavian-founded, Cyprus-licensed CFD broker with an unusually clean platform — and a currency charge that outweighs its spreads.

3.4

Group index 49/100Protection depends on your legal entity

CySECFSA

Stocks (per order): in the spread
Minimum deposit: €100
EUR/USD spread: 1.2 pips

Visit broker Full review

Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.

The verdict in numbers

Four decision axes, each derived from the recorded data.

Overall BlackBull Markets takes it, 3.7 against 3.4 out of 5. The two pricing models cannot be converted like for like; the fee rows in the table carry the detail. BlackBull Markets scores 73 against 49 out of 100 on the group index. Your account's protection depends on its legal entity. BlackBull Markets covers more ground with 11 of 14 asset classes against 8. On platform and app Skilling is ahead, 3.9 against 3.8 out of 5. Which one is right depends on which of these axes matters for your trading profile.

Overall score

BlackBull Markets: 3.7 — Better
Skilling: 3.4

CostsTie

BlackBull Markets: Not offered
Skilling: €5.00

Group indexNo winner

BlackBull Markets: 73 of 100
Skilling: 49 of 100

Product range

BlackBull Markets: 11/14 — Better
Skilling: 8/14

Platform & app

BlackBull Markets: 3.8
Skilling: 3.9 — Better

Compare brokers side by side

Up to four brokers at once — every row a decision point.

Data as of: 30 Aug 2026

Best value in the row

BlackBull Markets · Skilling
Criterion	BlackBull Markets 3.7 Visit broker	Skilling 3.4 Visit broker

Overall score	3.7 — Better	3.4
Group index	73 of 100	49 of 100
Best for	Active forex and CFD traderscTrader and TradingView usersCopy tradersTraders with no minimum capitalSwiss and non-EU clients wanting high leverage	cTrader usersBeginners wanting a simple platformCopy-trading followersLow-deposit CFD tradersCrypto CFD traders

Regulation	FMAFSA	CySECFSA
Top-tier licences	1 — Better	0
Investor protection	None	€20,000 — Better
Listed group	No	No
Banking licence	No	No
Segregated client accounts	Yes	Yes
Negative balance protection	Yes	Yes
Audited financials	Yes	No
Disclosed regulatory actions	None	None
Founded	2014	2016
Headquarters	Auckland, NZ	Limassol, CY

Fees	4.0 — Better	3.6
Safety & regulation	3.0	3.0
Trading platform	3.9 — Better	3.8
Product range	3.6 — Better	3.3
Mobile app	3.6	4.0 — Better
Research	3.0 — Better	2.8
Customer support	4.1 — Better	3.4
Deposit & withdrawal	3.8 — Better	3.4
Account opening	4.8 — Better	4.4
Education	3.9 — Better	3.0

Reference order EUR 5,000	US$0.02/share (CFD)	€5.00
Minimum deposit	None — Better	€100
Stocks (per order)	US$0.02/share (CFD)	in the spread
US stocks	n/a	n/a
ETFs	Not offered	in the spread
Options	Not offered	Not offered
Futures	in the spread	Not offered
Crypto	in the spread	in the spread
Bonds (order)	n/a	n/a
Funds (order)	n/a	n/a
EUR/USD spread	1.16 pips — Better	1.2 pips
Index CFD spread	0.6 points	n/a
FX conversion	0.01 % — Better	0.7 %
Inactivity fee	None	n/a
Custody fee	None	n/a
Withdrawal fee	US$5	free — Better
Deposit fee	free	free
Overnight financing	n/a	n/a
Other fees	ECN Prime / Prime+ commission: USD 3.00 per lot per side (USD 6 per round turn) on top of the raw spread; EUR/USD averaged 0.16 pips over the twelve months to October 2025, so a standard-lot round turn lands at roughly USD 7.60 all-in ECN Standard commission: None — the whole cost sits in the spread. Advertised from 0.8 pips, but EUR/USD averaged 1.16 pips over the twelve months to October 2025, roughly USD 11.60 per standard-lot round turn Inactivity fee: None Custody / account fee: None Currency conversion: Liquidity-provider rate plus a mark-up, measured at roughly 0.01% in independent testing Swap-free (Islamic) accounts: Available on all account types, but subject to administrative fees; BlackBull reserves the right to revoke swap-free status +2	Standard account: Commission-free. EUR/USD from 0.8 pips, roughly USD 8 per standard-lot round turn at that floor; independent measurement puts the account average nearer 1.2 pips. Minimum deposit EUR 100. Premium account: EUR/USD from 0.1 pips plus commission billed by volume: USD 35 per USD 1 million traded, or USD 40 per million on MT4 Premium. Skilling does not state whether that rate applies per side or per round turn, so a standard-lot round turn carries USD 3.50 to USD 7.00 in commission — at or below the all-in cost of the commission-free Standard account. Commission applies to forex and commodities only. Minimum deposit reported at EUR 5,000. Currency conversion: 0.70% on conversions into and out of the account base currency — high by industry standards and the single biggest hidden cost here Skrill / Neteller: 2.9% transaction charge on e-wallet funding Minimum withdrawal: EUR 50 Inactivity fee: Skilling's current schedule as reported in August 2026 shows none. An older secondary listing cites EUR 10 after 12 months of dormancy. We have not recorded a figure because the two sources disagree — confirm before leaving an account idle. +1

Asset classes (of 14)	11 — Better	8
Exchanges	n/a	n/a
Stocks	Yes	Yes
ETFs	Yes	Yes
Options	Yes	No
Futures	Yes	No
Forex	Yes	Yes
CFDs	Yes	Yes
Crypto	Yes	Yes
Bonds	Yes	No
Funds	No	No
Commodities	Yes	Yes
Indices	Yes	Yes
Warrants	No	No
Spread betting	No	No
Social trading	Yes	Yes

Platforms	MetaTrader 4MetaTrader 5cTraderTradingViewBlackBull CopyTraderBlackBull InvestBlackBull Client PortalZuluTrade and Myfxbook AutoTrade	Skilling TradercTraderMetaTrader 4Skilling mobile apps
Demo account	Yes	Yes
Fractional shares	No	No
Maximum leverage	1:500	1:500 · Pro 1:500
Account opening	Fully online in roughly 10–15 minutes; usually approved within one business day	Registration takes under a minute; live trading requires ID and proof of address, typically verified within one business day
Account types	ECN StandardECN PrimePrime+Swap-free (Islamic)BlackBull Invest	StandardPremium

Payment methods	Bank transferCredit cardDebit cardSkrillNeteller	Bank transferCredit cardDebit cardSkrillNeteller
Account currencies	USDEURGBPAUDNZDSGDCADJPYZAR	EURUSD
Deposit time	Cards and e-wallets typically instant; bank transfers 1–3 business days	Instant on cards and e-wallets; up to 7 business days on wire transfer
Withdrawal time	Around 1 business day in independent testing; card and e-wallet withdrawals are capped at the amount deposited by that method	24 hours to 7 business days depending on the payment processor
Free withdrawals	n/a	n/a

Languages	EnglishSpanishThaiArabicChinesePortugueseRussianUzbek	EnglishSpanishFrenchPortugueseArabicRussianChineseMalayThai
Channels	PhoneEmailLive chatWhatsApp	Live chatEmailPhone
Availability	24/7, with separate English and Spanish WhatsApp lines and a New Zealand freephone number	Monday to Friday, 04:00–22:00 — not the 24/5 coverage most CFD brokers offer

Strengths and weaknesses side by side

Editorial assessment based on the recorded data.

BlackBull Markets

A New Zealand ECN broker with excellent platforms, real institutional plumbing — and no investor compensation anywhere.

3.7

Pros

No minimum deposit at all — every account tier including Prime opens from USD 0
Prime pricing of USD 3.00 per lot per side with EUR/USD averaging 0.16 pips — about USD 7.60 all-in on a standard-lot round turn
Platform range beats brokers many times its size: MT4, MT5, cTrader, native TradingView, in-house CopyTrader, ZuluTrade and Myfxbook
LMAX ECN liquidity into Equinix-hosted servers with sub-100ms average execution — genuine institutional plumbing rather than marketing language
24/7 support across phone, email, live chat and dedicated English and Spanish WhatsApp lines, consistently praised in recent public feedback
No inactivity fee, no custody fee, no account fee, and nine base currencies including NZD, SGD and ZAR
Milford Asset Management, a NZ$34bn manager, holds a minority stake — an outside investor with reputational skin in the game
BlackBull Invest adds real ownership of 26,000+ shares, options, ETFs and bonds alongside the leveraged accounts

Cons

No investor compensation scheme under either entity — New Zealand has none and the Seychelles has none, so segregation is the only protection if the firm fails
USD 5 charged on every withdrawal, in the account base currency, which almost no direct competitor does; small or frequent withdrawals get expensive fast
The commission-free ECN Standard tier is not the cheap option it looks like — EUR/USD averaged 1.16 pips over the twelve months to October 2025, about USD 11.60 per standard-lot round turn against USD 7.60 on Prime
Not available to EU, UK or Indian residents by BlackBull's own disclosure, which rules it out for German and Austrian readers entirely
BlackBull does not publish which countries are onboarded to which legal entity, so you may not know which regulator covers you until you read the agreement
Research is thin — a hub of daily snapshots and a podcast, with no screener depth or serious analytical tooling
Privately held with no banking licence and no exchange listing — audited accounts surface once a year on the New Zealand register and not in between; the credit ratings quoted on its compliance page are those of custodian banks, not of BlackBull

Best for

Active forex and CFD traderscTrader and TradingView usersCopy tradersTraders with no minimum capitalSwiss and non-EU clients wanting high leverage

Skilling

A Scandinavian-founded, Cyprus-licensed CFD broker with an unusually clean platform — and a currency charge that outweighs its spreads.

3.4

Pros

Three platforms on one account: the beginner-friendly Skilling Trader, full cTrader with depth of market and cTrader Automate, and MetaTrader 4
EUR 100 minimum on the Standard account with commission-free pricing across forex, indices, equities, ETFs, commodities and crypto
Premium pairs EUR/USD spreads from 0.1 pips with commission of USD 35 per USD 1 million traded, which prices at or below the commission-free tier once volume builds
CySEC licence 357/18 brings ESMA retail leverage caps and Investor Compensation Fund cover of 90% up to EUR 20,000 for EEA clients
800+ instruments on cTrader and Skilling Trader, including a crypto list broader than most FX-first brokers carry
Account registration takes under a minute and the demo account has no time limit, so testing costs nothing
Negative balance protection applies, and MAM/PAMM structures are supported for portfolio managers
cTrader Copy provides copy trading without a separate app or a managed-fund wrapper

Cons

Premium commission is quoted per USD 1 million of traded volume without saying whether it applies per side or per round turn, so a standard-lot round turn costs anywhere from USD 4.50 to USD 8.00 all-in — and the tier is gated by a reported EUR 5,000 minimum
0.70% currency conversion is expensive: converting EUR 10,000 costs about EUR 70, where the cheapest brokers charge a fraction of that, and a 2.9% charge applies to Skrill and Neteller funding
Support runs Monday to Friday 04:00–22:00 only, with no weekend cover, while crypto CFDs trade through the weekend
Essentially no in-house research — no analyst desk, no screener worth using, no structured market coverage; you supply your own analysis
MetaTrader 4 is a restricted build with roughly 200 instruments and no third-party add-on support, and MetaTrader 5 is not offered at all
CFD-only with no real ownership, and no Abgeltungsteuer or KESt withholding for German and Austrian clients

Best for

cTrader usersBeginners wanting a simple platformCopy-trading followersLow-deposit CFD tradersCrypto CFD traders

Open an account with either

A demo account costs nothing and answers the platform question in ten minutes.

Visit broker: BlackBull Markets Visit broker: Skilling

More comparisons

Alternatives people weigh up alongside these two.

BlackBull Markets vs Skilling — which broker is better?

BlackBull Markets or Skilling? Fees, regulation, platform and product range compared side by side — with a verdict drawn from the data.

The verdict in numbers

Four decision axes, each derived from the recorded data.

BlackBull Markets · Skilling
Criterion	BlackBull Markets 3.7 Visit broker	Skilling 3.4 Visit broker

Overall score	3.7 — Better	3.4
Group index	73 of 100	49 of 100
Best for	Active forex and CFD traderscTrader and TradingView usersCopy tradersTraders with no minimum capitalSwiss and non-EU clients wanting high leverage	cTrader usersBeginners wanting a simple platformCopy-trading followersLow-deposit CFD tradersCrypto CFD traders

Regulation	FMAFSA	CySECFSA
Top-tier licences	1 — Better	0
Investor protection	None	€20,000 — Better
Listed group	No	No
Banking licence	No	No
Segregated client accounts	Yes	Yes
Negative balance protection	Yes	Yes
Audited financials	Yes	No
Disclosed regulatory actions	None	None
Founded	2014	2016
Headquarters	Auckland, NZ	Limassol, CY

Fees	4.0 — Better	3.6
Safety & regulation	3.0	3.0
Trading platform	3.9 — Better	3.8
Product range	3.6 — Better	3.3
Mobile app	3.6	4.0 — Better
Research	3.0 — Better	2.8
Customer support	4.1 — Better	3.4
Deposit & withdrawal	3.8 — Better	3.4
Account opening	4.8 — Better	4.4
Education	3.9 — Better	3.0

Reference order EUR 5,000	US$0.02/share (CFD)	€5.00
Minimum deposit	None — Better	€100
Stocks (per order)	US$0.02/share (CFD)	in the spread
US stocks	n/a	n/a
ETFs	Not offered	in the spread
Options	Not offered	Not offered
Futures	in the spread	Not offered
Crypto	in the spread	in the spread
Bonds (order)	n/a	n/a
Funds (order)	n/a	n/a
EUR/USD spread	1.16 pips — Better	1.2 pips
Index CFD spread	0.6 points	n/a
FX conversion	0.01 % — Better	0.7 %
Inactivity fee	None	n/a
Custody fee	None	n/a
Withdrawal fee	US$5	free — Better
Deposit fee	free	free
Overnight financing	n/a	n/a
Other fees	ECN Prime / Prime+ commission: USD 3.00 per lot per side (USD 6 per round turn) on top of the raw spread; EUR/USD averaged 0.16 pips over the twelve months to October 2025, so a standard-lot round turn lands at roughly USD 7.60 all-in ECN Standard commission: None — the whole cost sits in the spread. Advertised from 0.8 pips, but EUR/USD averaged 1.16 pips over the twelve months to October 2025, roughly USD 11.60 per standard-lot round turn Inactivity fee: None Custody / account fee: None Currency conversion: Liquidity-provider rate plus a mark-up, measured at roughly 0.01% in independent testing Swap-free (Islamic) accounts: Available on all account types, but subject to administrative fees; BlackBull reserves the right to revoke swap-free status +2	Standard account: Commission-free. EUR/USD from 0.8 pips, roughly USD 8 per standard-lot round turn at that floor; independent measurement puts the account average nearer 1.2 pips. Minimum deposit EUR 100. Premium account: EUR/USD from 0.1 pips plus commission billed by volume: USD 35 per USD 1 million traded, or USD 40 per million on MT4 Premium. Skilling does not state whether that rate applies per side or per round turn, so a standard-lot round turn carries USD 3.50 to USD 7.00 in commission — at or below the all-in cost of the commission-free Standard account. Commission applies to forex and commodities only. Minimum deposit reported at EUR 5,000. Currency conversion: 0.70% on conversions into and out of the account base currency — high by industry standards and the single biggest hidden cost here Skrill / Neteller: 2.9% transaction charge on e-wallet funding Minimum withdrawal: EUR 50 Inactivity fee: Skilling's current schedule as reported in August 2026 shows none. An older secondary listing cites EUR 10 after 12 months of dormancy. We have not recorded a figure because the two sources disagree — confirm before leaving an account idle. +1

Asset classes (of 14)	11 — Better	8
Exchanges	n/a	n/a
Stocks	Yes	Yes
ETFs	Yes	Yes
Options	Yes	No
Futures	Yes	No
Forex	Yes	Yes
CFDs	Yes	Yes
Crypto	Yes	Yes
Bonds	Yes	No
Funds	No	No
Commodities	Yes	Yes
Indices	Yes	Yes
Warrants	No	No
Spread betting	No	No
Social trading	Yes	Yes

Platforms	MetaTrader 4MetaTrader 5cTraderTradingViewBlackBull CopyTraderBlackBull InvestBlackBull Client PortalZuluTrade and Myfxbook AutoTrade	Skilling TradercTraderMetaTrader 4Skilling mobile apps
Demo account	Yes	Yes
Fractional shares	No	No
Maximum leverage	1:500	1:500 · Pro 1:500
Account opening	Fully online in roughly 10–15 minutes; usually approved within one business day	Registration takes under a minute; live trading requires ID and proof of address, typically verified within one business day
Account types	ECN StandardECN PrimePrime+Swap-free (Islamic)BlackBull Invest	StandardPremium

Payment methods	Bank transferCredit cardDebit cardSkrillNeteller	Bank transferCredit cardDebit cardSkrillNeteller
Account currencies	USDEURGBPAUDNZDSGDCADJPYZAR	EURUSD
Deposit time	Cards and e-wallets typically instant; bank transfers 1–3 business days	Instant on cards and e-wallets; up to 7 business days on wire transfer
Withdrawal time	Around 1 business day in independent testing; card and e-wallet withdrawals are capped at the amount deposited by that method	24 hours to 7 business days depending on the payment processor
Free withdrawals	n/a	n/a

Languages	EnglishSpanishThaiArabicChinesePortugueseRussianUzbek	EnglishSpanishFrenchPortugueseArabicRussianChineseMalayThai
Channels	PhoneEmailLive chatWhatsApp	Live chatEmailPhone
Availability	24/7, with separate English and Spanish WhatsApp lines and a New Zealand freephone number	Monday to Friday, 04:00–22:00 — not the 24/5 coverage most CFD brokers offer

Criterion

3.7

3.4

Overall score

3.7

3.4

Group index

73 of 100

49 of 100

Best for

Active forex and CFD traderscTrader and TradingView usersCopy tradersTraders with no minimum capitalSwiss and non-EU clients wanting high leverage

cTrader usersBeginners wanting a simple platformCopy-trading followersLow-deposit CFD tradersCrypto CFD traders

Regulation

FMAFSA

CySECFSA

Top-tier licences

Investor protection

None

€20,000

Listed group

Banking licence

Segregated client accounts

Negative balance protection

Audited financials

Disclosed regulatory actions

None

Founded

2014

2016

Headquarters

Auckland, NZ

Limassol, CY

Fees

4.0

3.6

Safety & regulation

3.0

Trading platform

3.9

3.8

Product range

3.6

3.3

Mobile app

3.6

4.0

Research

3.0

2.8

Customer support

4.1

3.4

Deposit & withdrawal

3.8

3.4

Account opening

4.8

4.4

Education

3.9

3.0

Reference order EUR 5,000

US$0.02/share (CFD)

€5.00

Minimum deposit

None

€100

Stocks (per order)

US$0.02/share (CFD)

in the spread

US stocks

n/a

ETFs

Not offered

in the spread

Options

Not offered

Futures

in the spread

Not offered

Crypto

in the spread

Bonds (order)

n/a

Funds (order)

n/a

EUR/USD spread

1.16 pips

1.2 pips

Index CFD spread

0.6 points

n/a

FX conversion

0.01 %

0.7 %

Inactivity fee

None

n/a

Custody fee

None

n/a

Withdrawal fee

US$5

free

Deposit fee

free

Overnight financing

n/a

Other fees

ECN Prime / Prime+ commission: USD 3.00 per lot per side (USD 6 per round turn) on top of the raw spread; EUR/USD averaged 0.16 pips over the twelve months to October 2025, so a standard-lot round turn lands at roughly USD 7.60 all-in
ECN Standard commission: None — the whole cost sits in the spread. Advertised from 0.8 pips, but EUR/USD averaged 1.16 pips over the twelve months to October 2025, roughly USD 11.60 per standard-lot round turn
Inactivity fee: None
Custody / account fee: None
Currency conversion: Liquidity-provider rate plus a mark-up, measured at roughly 0.01% in independent testing
Swap-free (Islamic) accounts: Available on all account types, but subject to administrative fees; BlackBull reserves the right to revoke swap-free status
+2

Standard account: Commission-free. EUR/USD from 0.8 pips, roughly USD 8 per standard-lot round turn at that floor; independent measurement puts the account average nearer 1.2 pips. Minimum deposit EUR 100.
Premium account: EUR/USD from 0.1 pips plus commission billed by volume: USD 35 per USD 1 million traded, or USD 40 per million on MT4 Premium. Skilling does not state whether that rate applies per side or per round turn, so a standard-lot round turn carries USD 3.50 to USD 7.00 in commission — at or below the all-in cost of the commission-free Standard account. Commission applies to forex and commodities only. Minimum deposit reported at EUR 5,000.
Currency conversion: 0.70% on conversions into and out of the account base currency — high by industry standards and the single biggest hidden cost here
Skrill / Neteller: 2.9% transaction charge on e-wallet funding
Minimum withdrawal: EUR 50
Inactivity fee: Skilling's current schedule as reported in August 2026 shows none. An older secondary listing cites EUR 10 after 12 months of dormancy. We have not recorded a figure because the two sources disagree — confirm before leaving an account idle.
+1

Asset classes (of 14)

Exchanges

n/a

Stocks

ETFs

Options

Futures

Forex

CFDs

Crypto

Bonds

Funds

Commodities

Indices

Warrants

Spread betting

Social trading

Platforms

MetaTrader 4MetaTrader 5cTraderTradingViewBlackBull CopyTraderBlackBull InvestBlackBull Client PortalZuluTrade and Myfxbook AutoTrade

Skilling TradercTraderMetaTrader 4Skilling mobile apps

Demo account

Fractional shares

Maximum leverage

1:500

1:500 · Pro 1:500

Account opening

Fully online in roughly 10–15 minutes; usually approved within one business day

Registration takes under a minute; live trading requires ID and proof of address, typically verified within one business day

Account types

ECN StandardECN PrimePrime+Swap-free (Islamic)BlackBull Invest

StandardPremium

Payment methods

Bank transferCredit cardDebit cardSkrillNeteller

Account currencies

USDEURGBPAUDNZDSGDCADJPYZAR

EURUSD

Deposit time

Cards and e-wallets typically instant; bank transfers 1–3 business days

Instant on cards and e-wallets; up to 7 business days on wire transfer

Withdrawal time

Around 1 business day in independent testing; card and e-wallet withdrawals are capped at the amount deposited by that method

24 hours to 7 business days depending on the payment processor

Free withdrawals

n/a

Languages

EnglishSpanishThaiArabicChinesePortugueseRussianUzbek

EnglishSpanishFrenchPortugueseArabicRussianChineseMalayThai

Channels

PhoneEmailLive chatWhatsApp

Live chatEmailPhone

Availability

24/7, with separate English and Spanish WhatsApp lines and a New Zealand freephone number

Monday to Friday, 04:00–22:00 — not the 24/5 coverage most CFD brokers offer