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Head to head
BlackBull Markets or Tickmill? 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.
A New Zealand ECN broker with excellent platforms, real institutional plumbing — and no investor compensation anywhere.
A tight-spread MetaTrader broker that quietly turned into a futures and multi-asset shop.
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.
Four decision axes, each derived from the recorded data.
Overall Tickmill takes it, 3.9 against 3.7 out of 5. BlackBull Markets is the cheaper of the two: a reference EUR 5,000 stock order costs €0.92 there against €5.00. BlackBull Markets scores 73 against 70 out of 100 on the group index. Your account's protection depends on its legal entity. Both cover 11 of 14 asset classes. On platform and app BlackBull Markets is ahead, 3.8 against 3.6 out of 5. Which one is right depends on which of these axes matters for your trading profile.
BlackBull MarketsTickmillBlackBull MarketsTickmillBlackBull MarketsTickmillBlackBull MarketsTickmillBlackBull MarketsTickmillUp to four brokers at once — every row a decision point.
Data as of: 30 Aug 2026
| Criterion | ||
|---|---|---|
| Overall score | 3.7 | 3.9 — Better |
| Group index | 73 of 100 | 70 of 100 |
| Best for | Active forex and CFD traderscTrader and TradingView usersCopy tradersTraders with no minimum capitalSwiss and non-EU clients wanting high leverage | Active forex and CFD tradersScalpers and Expert Advisor usersFutures traders wanting micro contractsCost-driven MetaTrader usersTraders wanting FCA-regulated pricing |
| Regulation | FMAFSA | FCACySECFSCADFSAFSA |
| Top-tier licences | 1 | 1 |
| Investor protection | None | £85,000 — 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 | 2014 |
| Headquarters | Auckland, NZ | London, GB |
| Fees | 4.0 | 4.5 — Better |
| Safety & regulation | 3.0 | 3.9 — Better |
| Trading platform | 3.9 — Better | 3.5 |
| Product range | 3.6 | 3.8 — Better |
| Mobile app | 3.6 | 3.6 |
| Research | 3.0 | 3.2 — Better |
| Customer support | 4.1 — Better | 3.6 |
| Deposit & withdrawal | 3.8 | 4.3 — Better |
| Account opening | 4.8 | 4.8 |
| Education | 3.9 — Better | 3.6 |
| Reference order EUR 5,000 | €0.92 — Better | €5.00 |
| Minimum deposit | None — Better | US$100 |
| Stocks (per order) | US$0.02/share | in the spread |
| US stocks | n/a | US$0.35 |
| ETFs | Not offered | in the spread |
| Options | Not offered | US$1.30 |
| Futures | in the spread | US$1.30 |
| Crypto | in the spread | in the spread |
| Bonds (order) | n/a | in the spread |
| Funds (order) | n/a | n/a |
| EUR/USD spread | 1.16 pips | 0.1 pips — Better |
| Index CFD spread | 0.6 points | 0.3 points — Better |
| FX conversion | 0.01 % | 0.01 % |
| Inactivity fee | None — Better | €10 · after 12 months |
| Custody fee | None | None |
| Withdrawal fee | US$5 | free — Better |
| Deposit fee | free | free |
| Overnight financing | n/a | n/a |
| Other fees |
|
|
| Asset classes (of 14) | 11 | 11 |
| Exchanges | n/a | n/a |
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | Yes |
| Forex | Yes | Yes |
| CFDs | Yes | Yes |
| Crypto | Yes | Yes |
| Bonds | Yes | Yes |
| Funds | No | Yes |
| Commodities | Yes | Yes |
| Indices | Yes | Yes |
| Warrants | No | No |
| Spread betting | No | No |
| Social trading | Yes | No |
| Platforms | MetaTrader 4MetaTrader 5cTraderTradingViewBlackBull CopyTraderBlackBull InvestBlackBull Client PortalZuluTrade and Myfxbook AutoTrade | MetaTrader 4MetaTrader 5MetaTrader WebTraderTickmill Mobile AppCQGTrading Technologies (TT)FIX API and connectivityAdvanced Trading Toolkit |
| Demo account | Yes | Yes |
| Fractional shares | No | Yes |
| Maximum leverage | 1:500 | 1:30 |
| Account opening | Fully online in roughly 10–15 minutes; usually approved within one business day | Fully online; verification typically completed within one business day |
| Account types | ECN StandardECN PrimePrime+Swap-free (Islamic)BlackBull Invest | ClassicRawFutures & OptionsIBKR Multi-AssetIslamic (swap-free) |
| Payment methods | Bank transferCredit cardDebit cardSkrillNeteller | Bank transferSEPACredit cardDebit cardSkrillNetellerPayPalSofort |
| Account currencies | USDEURGBPAUDNZDSGDCADJPYZAR | USDEURGBPPLNCHF |
| Deposit time | Cards and e-wallets typically instant; bank transfers 1–3 business days | Cards and e-wallets instant; bank wire processed within 1 working day, arriving in 2–7 working days |
| Withdrawal time | Around 1 business day in independent testing; card and e-wallet withdrawals are capped at the amount deposited by that method | Processed within 1 working day; e-wallets often same day, bank wire 2–7 working days |
| Free withdrawals | n/a | n/a |
| Languages | EnglishSpanishThaiArabicChinesePortugueseRussianUzbek | EnglishGermanChineseIndonesianRussianSpanishArabicPolishItalianKorean+3 |
| Channels | PhoneEmailLive chatWhatsApp | PhoneEmailLive chatTicket system |
| Availability | 24/7, with separate English and Spanish WhatsApp lines and a New Zealand freephone number | 24/5, Monday to Friday, with a separate professional client services desk for futures and options |
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.
Pros
Cons
Best for
Tickmill
A tight-spread MetaTrader broker that quietly turned into a futures and multi-asset shop.
Pros
Cons
Best for
Open an account with either
A demo account costs nothing and answers the platform question in ten minutes.
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.
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