In our BlackBull Markets vs BlueBerry Markets comparison, we found both forex brokers have STP execution with spreads from 0.0 pips, MetaTrader 4 and 5 Trading Platforms, but BlackBull Markets has better social trading tools. See how the brokers compare.
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Our full comparison covers the 10 most important trading factors. Here are five noticeable differences between BlackBull Markets and Blueberry Markets:
Choosing the best foreign exchange broker to suit your forex trading style can feel like an overwhelming process, even for experienced traders. Our head-to-head broker comparisons are designed to help online traders identify the fx brokers with the best combination of trading tools, costs, and fees. Whether you’re an experienced forex trader or a novice, our unbiased, data-driven assessments give you the information you need to choose the right online broker for you.
Ross Collins, one of our forex researchers here at CompareForexBrokers, undertakes our testing of spreads with a very thorough eye so we have a source of truth when providing you with average spreads. When it comes to Standard accounts (i.e. no commission trading accounts), BlackBull Markets advertise their average spreads as starting from 1.0 pips, while BlueBerry Markets doesn’t even bother to provide a minimum, so we wanted to find out how much the spreads really are. Back-to-back weeks over a 24-hour period, Ross captured the spreads for 20 brokers for 6 major currency pairs and then averaged the pairs. Our results can be found on our standard accounts spreads results page.
When Ross compared the spreads on offer from Blueberry Markets and BlackBull Markets, the results clearly differed.
BlackBull Markets had an average spread of 1.85 pips.
For Blueberry Markets, although they don’t reveal their own average spreads, they do use Eightcap Pty Ltd as their clearing house, so we used that broker’s average spreads to guide us. That figure is 1.51 pips.
If we run with this, BlueBerry Markets will cost you USD $13.97 per lot, while BlackBull Markets will cost $16.95. These costs are averaged out across 6 major currency pairs. For a breakdown of each forex pair, see our ‘cheapest brokers for each currency pair.‘
| Broker | Average Spread | Average Spread Cost (USD) |
|---|---|---|
| IC Markets | 1.03 | $9.63 |
| CMC Markets | 1.11 | $10.10 |
| FusionMarkets | 1.19 | $11.07 |
| EightCap/BlueBerry | 1.51 | $13.97 |
| Blackbull Markets | 1.82 | $16.95 |
Standard Account Spreads
When it comes to forex trading, the devil is in the details. And by details, I mean the spreads. Let’s take a closer look at two brokers – BlackBull Markets and Blueberry Markets.
BlackBull Markets offers a spread of 1.2 for EUR/USD, which is exactly the same as Blueberry Markets. However, when we look at USD/JPY, BlackBull Markets has a slightly lower spread of 1.3 compared to Blueberry’s 1.6. This trend continues with GBP/USD and AUD/USD, where BlackBull Markets consistently offers lower spreads.
| Forex Pair | BlackBull Markets | Blueberry Markets | Industry Average |
|---|---|---|---|
| EUR/USD | 1.2 | 1.2 | 1.18 |
| USD/JPY | 1.3 | 1.6 | 1.37 |
| GBP/USD | 1.4 | 1.2 | 1.51 |
| AUD/USD | 1.7 | 1.1 | 1.41 |
| USD/CAD | 1.5 | 2.2 | 1.70 |
| EUR/GBP | 1.5 | 1.7 | 1.56 |
| EUR/JPY | 1.9 | 2.9 | 1.85 |
| AUD/JPY | 2.1 | 1.6 | 2.09 |
Standard Account Analysis Updated April 2024[1]April 2024 Published And Tested Data
However, the tables turn when we look at USD/CAD. Blueberry Markets offers a spread of 2.2, which is significantly higher than BlackBull’s 1.5. This could be a game-changer for traders who frequently trade with USD/CAD.
Now, let’s bring the industry average into the picture. The industry average for EUR/USD is 1.18, which is slightly lower than both BlackBull and Blueberry. However, for USD/JPY, the industry average is 1.37, which is higher than BlackBull but lower than Blueberry.
Verdict
In conclusion, while both brokers offer competitive spreads, BlackBull Markets seems to have a slight edge over Blueberry Markets. However, it’s important to note that the best broker for you would depend on the specific forex pairs you trade with. Always remember to do your homework before making a decision.
BlackBull Markets ReviewVisit BlackBull Markets
You can use the MetaTrader4 trading platform (best suited for forex trading) and MetaTrader5 (recognised as a superior CFD trading platform since you can trade more products on it) with both brokers.
But with BlackBull Markets also having TradingView and social trading with Myfxbook and ZuluTrade and their own apps BlackBull Social, we believe BlackBull Markets has more to offer here, with a wider trading platform variety that suits both forex and CFD trade.
It’s hard to choose BlueBerry Markets over BlackBull Markets when it comes to trading platforms and tools because they don’t offer anything BlackBull Markets doesn’t have.
BlackBull Markets offers three trading accounts, with a demo trading account attached to each one. The minimum deposit funds required vary, depending on the account.
All three accounts from BlackBulls Markets have an Islamic (swap-free) version. All three use an ECN execution model.
At Blueberry Markets, there are only two accounts to choose from.
The common features that link both account offerings from Blueberry Markets include a minimum deposit of $100, regulation from both Australia (ASIC) and the Bahamas (SCB), and base currencies that include AUD, USD, CAD, GBP, NZD, EUR, and SGD.
Both Blueberry Markets account types can be traded in MT4 or MT5 platforms, with unlimited demo account access.
Both BlackBull Markets and Blueberry Markets use a no-dealing desk model with STP execution.
When it comes to the overall trading experience, there’s a lot to consider. From our in-depth analysis of BlackBull Markets and Blueberry Markets combined with our own testing, we’ve noticed some distinct features that stand out:
In the realm of trading, it’s not just about the tools and platforms but also about the ease with which one can navigate and execute trades. Both brokers have made significant efforts to ensure their platforms are user-friendly, but there are subtle differences that can impact a trader’s daily operations.
Verdict
Based on our comprehensive analysis and testing, BlackBull Markets offers the best overall trading experience, especially for those who value fast execution and a diverse range of trading tools.
Blueberry Markets Trust Score
BlackBull Markets Trust Score
BlackBull Markets doesn’t stack up as well as many other regulated brokers in this category and is only regulated by the FMA in New Zealand and FSA in Seychelles. Out of a maximum possible score of 100 across several categories, we score BlackBull Markets as 30.
Blueberry Markets just got past the post in this area with a total score of 31. Its top-tier regulatory license is by ASIC (Australia). So, if you are an Australian trader, you can be sure you are getting the best possible regulatory protection.
In terms of TrustPilot reviews, Blueberry Markets scores 4.6, compared to BlackBull Markets’ score of 4.4.
| BlackBull Markets | Blueberry Markets | |
|---|---|---|
| Tier 1 Regulation | FMA (New Zealand) | ASIC (Australia) |
| Tier 2 Regulation | ||
| Tier 3 Regulation | FSA-S (Seychelles) | SVG-FSA |
Whether you are interested in trading in CFDs or fx trading, these brokers have something to suit everyone.
New Zealand-based BlackBull Markets allows you to trade 23,000+ products, including 64 currency pairs, with leverage up to 500:1 ($50,000).
BlackBull Markets offers CFDs (Contracts For Difference) on major Australian and European shares and global indices. Trading products include 15 indices, 21 commodities, and 23,000+ stock trading as CFD and equities. Be aware that stocks (the underlying assets) are not available in Australia, Canada, the UK, the US, Hong Kong, Ireland, or Singapore.
Australian-based Blueberry Markets only has 38 Forex Pairs and, due to ASIC regulatory requirements, limits Forex leverage to 30:1 for Australian fx traders.
However, for traders outside of Australia, trading leverage can be 200:1, as this uses the broker’s Bahamas subsidiary. This means for Australian traders, BlueBerry Markets just can’t compete with the 1:500 leverage BlackBull Markets offer when trading Forex.
Each broker helps beginners learn how to trade CFDs and forex with quality demo accounts that use virtual dollars as a smart way to gain a better understanding of CFD trading without risking real dollars.
In the ever-evolving world of forex trading, continuous learning is paramount. Both BlackBull Markets and Blueberry Markets understand this and have invested in providing educational resources for their traders. From our analysis and our own testing, here’s a comparison of the educational resources each broker offers:
Education is not just about the quantity but the quality of resources. Both brokers have made significant efforts to ensure their educational content is top-notch, catering to traders of all levels. Whether you’re a newbie looking to understand the basics or an experienced trader wanting to refine your strategies, these brokers have got you covered.
Verdict
Based on our comprehensive analysis and testing scores, BlackBull Markets offers superior educational resources, ensuring traders are well-equipped with knowledge for their trading journey.
Quality customer support is important, but BlackBull Markets offers a mixed level of customer care experience.
When it comes to customer service knowledge, Ross ranked this broker as ‘excellent’, with the best possible score of 15. Overall website experience, though, measured only just above average (4).
At Blueberry Markets, these two components measured equally with BlackBull – excellent (15) for customer service knowledge and the same barely better than average ranking of 5 for overall website experience.
It’s in other categories that differences became apparent.
Overall, with a total score of 65 across 10 categories, Blueberry Markets performed better in the area of customer support than BlackBull Markets, with an overall score of 58.
We looked at the way you can fund your account with each broker and found that BlackBull Markets has one of the largest ranges of deposit methods of all brokers. In addition to the usual credit card options like Visa and MasterCard, BankWire, BalckBull Markets will accept deposits using 11 types of cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple, and Stellar. Lastly, BlackBull Markets accepts 19 digital payment providers, such as PayPal, Poli, Skrill, FasaPay, China Union Pay, Neteller, and Interac.
By comparison, BlueBerry Markets accepts Visa and MasterCard, Bank Transfer, but their range of e-wallets is a bit more limited (but still good). Digital providers include Skrill, Neteller, Crypto – BTC, USTD, ETH, PayTrust, FasaPay, DragonPay, Perfect Money, STICPAY, and THB QR Payment.
BlackBull Markets has a lower minimum deposit than Blueberry Markets, with each broker requiring $0 and $100, respectively.
Here’s a breakdown of the minimum deposit amounts for each broker:
BlackBull Markets
| Minimum Deposit | GBP | USD | EUR | AUD |
|---|---|---|---|---|
| Credit Card / Debit Card | £50 | $50 | €50 | $50 |
| Bank Wire | £0 | $0 | €0 | $0 |
| Skrill | £50 | $50 | €50 | $50 |
| Neteller | £50 | $50 | €50 | $50 |
Blueberry Markets
| GBP | USD | EUR | AUD | |
|---|---|---|---|---|
| Credit Card / Debit Card | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| Bank Wire | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| Skrill | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| Neteller | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
Verdict
When it comes to the lowest minimum deposit, BlackBull Markets stands out with its no minimum deposit. When choosing a broker, a lower minimum deposit is just one of many factors to consider. Comprehensive trading experience depends on factors such as trading platforms, customer support, and educational resources.
BlackBull Markets is the winner because it dominates in most of the key areas that traders value the most, such as spreads, fees, trading platforms, and educational resources. The table below summarises the key information leading to this verdict:
| Criteria | BlackBull Markets | Blueberry Markets |
|---|---|---|
| Lowest Spreads And Fees | ✅ | ❌ |
| Better Trading Platform | ✅ | ❌ |
| Superior Accounts And Features | ✅ | ❌ |
| Best Trading Experience And Ease | ✅ | ❌ |
| Stronger Trust And Regulation | ❌ | ✅ |
| Top Product Range And CFD Markets | ✅ | ✅ |
| Superior Educational Resources | ✅ | ❌ |
| Superior Customer Service | ❌ | ✅ |
| Better Funding Options | ✅ | ❌ |
| Lower Minimum Deposit | ✅ | ❌ |
Blueberry Markets is the ideal choice for beginner traders due to its strong trust and regulation, combined with superior customer service.
BlackBull Markets stands out for experienced traders because of its competitive spreads, advanced trading platforms, and comprehensive educational resources.
BlackBull Markets generally offers lower costs compared to Blueberry Markets. They have competitive spreads, especially on major currency pairs. For instance, the EUR/USD spread can go as low as 0.1 pips. If you’re keen on exploring more about low-cost brokers, you might want to check out this comprehensive guide on the best brokers with the lowest spreads.
Both Blueberry Markets and BlackBull Markets offer MetaTrader 4, but BlackBull Markets provides additional features and tools that enhance the MT4 experience. Their integration with social trading tools and faster execution speeds make them a preferred choice for many MT4 enthusiasts. For a deeper dive into the best MT4 brokers, you can visit this detailed comparison of top MT4 brokers.
BlackBull Markets stands out when it comes to social trading, offering tools that allow traders to follow and copy the strategies of experienced traders. Social trading can be a game-changer, especially for beginners looking to learn from the pros. If you’re interested in exploring more about social trading platforms, here’s a comprehensive guide on the best forex social trading platforms.
Neither BlackBull Markets nor Blueberry Markets offer spread betting as a primary service. Spread betting is a unique form of trading popular in the UK, allowing traders to bet on the direction of market movements without owning the underlying asset. If you’re interested in brokers that specialise in spread betting, you might want to explore this list of the best spread betting brokers in the UK.
In my opinion, BlackBull Markets has a slight edge for Australian forex traders. Both brokers are ASIC regulated, ensuring a high level of trust and security for traders. BlackBull Markets, founded overseas, has made significant inroads into the Australian market with its competitive offerings. Blueberry Markets, on the other hand, is an Australian-born broker. For a comprehensive look at the best options available for Australian traders, check out this guide on top Australian forex brokers.
For UK forex traders, I believe Blueberry Markets offers a more tailored experience. While both brokers cater to the UK market, it’s essential to note that neither is FCA regulated or founded in the UK. However, Blueberry Markets’ offerings align more closely with the needs of UK traders. If you’re keen on exploring more about the best brokers for UK traders, here’s a detailed review of top UK forex brokers.
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page..
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