Draw in Picture Box or directly on Form?

I intend to create an application which generates fractal images.

This will require doing computations, each generating an XY coordinate pair. For each coordinate, the corresponding pixel is assigned a color.

I am not sure whether to use a large Picture Box or to draw directly on the Form. I used a Picture Box for a previous application, and believe that I know how to implement this application using a Picture Box.

I do not need to use Direct X or any API. Speed is not important here.

Can I have use the same VB Functions & Methods to draw on the Form as those that I used to draw in a Picture Box? Can I control the Background & Foreground colors on the Form as easily as I could when using a Picture Box?