Blueberry Markets, an Australian and Vanuatu-regulated broker, caters to various traders with both ECN-style and commission-free accounts, but the lack of published average spreads may raise transparency concerns.
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Blueberry Markets Summary
Our research found no dealing desk Forex broker Blueberry Markets products to be mostly generic and typical of a low cost broker. This means MetaTrader 4 and MetaTrader 5 platforms (which are good choices for manual and automated Forex trading), a Standard Account and a Direct (Raw) account so you can choose between no commission and ECN style trading and a wide range of CFD trading products. The broker likes to promote their social media presence as a measure of their value.
Personally we think there are better and more interesting brokers to choose. The broker doesn’t appear to have invested much into their overall product, there are no 3rd party tools for automation, social or copy trading and no Forex education. There are also numerous online complaints about the slow withdrawal of funds with this broker.
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Blueberry Markets offer two main account types: a standard account with no commission, and a direct account with ECN style spreads plus commission.
The Standard Account is designed for traders who prefer a straightforward approach to trading costs, with no commission fees and all costs built into the spread, starting from 1 pip.This option is great for beginners or anyone who prefers not to worry about calculating commission fees.
Conversely, the Direct Account provides traders with the benefit of raw spreads beginning at 0.0 pips, along with a commission fee of $3.50 per side, per 100k traded. This account is tailored for those who value transparency in their trading costs and appreciate the accuracy provided by ECN style spreads.
Typically, in our analysis of brokers, we examine the published average spreads to establish a benchmark for comparing them against other brokers. This comparison is pivotal in assessing the cost-effectiveness and transparency of a broker’s pricing structure. However, Blueberry Markets does not publish average spreads, which introduces concerns regarding transparency.
The absence of this information makes it challenging to conduct a direct comparison of Blueberry Markets’ pricing with that of other brokers, potentially leaving traders to rely on other aspects of the broker’s service and offerings to gauge its suitability for their trading needs.
For those looking for brokers with transparent, publicly available pricing, you can visit the link below to compare brokers that meet these criteria.
Forex VPS
Clients with a live account, whether Standard or Direct, may access the Blueberry Markets Forex VPS for free. Their VPS provides the best experience possible by executing trades with greater speed and accuracy through high-performance external servers. It also allows low-latency trading by hosting the client’s system inside the same data centre as Blueberry Markets’ main trading servers, ensuring that the client’s trades are executed in 1 minute or less.
The use of their free Forex VPS is subject to application.
Blueberry Markets offers its clients the choice between two leading trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5), each supporting a range of devices including desktop, mobile apps, tablet, and web browsers.
| MetaTrader 4 | MetaTrader 5 | |
|---|---|---|
| Available Instruments | Indices, Forex, Metals & Energies | Indices, Forex, Metals, Energies, Cryptos & Shares |
| Time Frames | 9 | 21 |
| Technical Indicators | 30 | 38 |
| One click Trading | ✔ | ✔ |
| Expert Advisors (EAs) | ✔ | ✔ |
| One-click Trading | ✔ | ✔ |
| Economic Calendar | ✘ | ✔ |
MT4 is renowned for its customisability and user-friendly interface, featuring a comprehensive set of technical analysis tools, including 30 technical indicators and various charting tools. It supports algorithmic trading through Expert Advisors (EAs), offers one-click trading, multiple order types, and a rich trading history database.
MT4 is accessible on Windows, macOS, iOS, and Android devices, ensuring traders can monitor and execute trades from anywhere.
MT5 extends the capabilities of MT4, introducing advanced analytics, more order types, and cryptocurrency CFD trading.
It includes 38 technical indicators, 44 analytical objects, and the ability to view up to 100 charts simultaneously. MT5 also features an enhanced MQL5 environment for developing and backtesting EAs, a built-in economic calendar, and web trading capabilities across various operating systems.
Blueberry Markets ensures that traders can access the financial markets at any time, from anywhere, through its comprehensive mobile trading solutions. By leveraging the MetaTrader 4 and MetaTrader 5 mobile apps, clients can enjoy a seamless trading experience on their smartphones and tablets.
These apps offer full functionality, allowing traders to execute trades, analyse markets using technical indicators, and manage their accounts on the go. The convenience of mobile trading with Blueberry Markets means that traders never have to miss a market opportunity, regardless of their location.
DupliTrade for Copy Trading
Blueberry Markets partners with DupliTrade, an innovative copy trading platform that enables traders to automatically replicate the trades of experienced traders.
With a minimum deposit of $2,000 USD, clients can access DupliTrade’s portfolio of leading strategy providers, trading directly on their MT4 accounts. For beginners or those looking to test strategies, demo accounts can be utilised before live trading.
Verdict
Blueberry Markets equips traders with MetaTrader 4 and MetaTrader 5, leading platforms for desktop and mobile trading, alongside DupliTrade for copy trading, catering to a wide range of trading preferences and strategies.
Blueberry Markets is considered a safe broker with a a trust score of 31 and tier-1 regulation.
Blueberry Markets is regulated by the Australian Securities and Investment Commission (ASIC) for Australian residents, and for its international clients, the online broker is regulated by the Vanuatu Financial Services Authority (FSA).
ASIC regulation ensures high safety standards for Australian traders, including transparent operations and secure handling of funds. In contrast, FSA regulation provides global access with different levels of investor protection. Clients should consider their location and the relevant regulatory body when choosing Blueberry Markets, as it affects the protection and oversight of their investments.
| Blueberry Markets Safety | Financial Regulators |
|---|---|
| Tier-1 | ASIC |
| Tier-2 | |
| Tier-3 | FSA-V |
Founded in 2016 and headquartered in Sydney, Australia, Blueberry Markets has maintained a clean regulatory record, with no issues reported. The broker receives about 12,100 Google searches per month, which is significantly lower compared to leading Australian brokers like IC Markets, which receives 246,000 searches.
Customer feedback is overwhelmingly positive, with Blueberry Markets achieving a rating of 4.6 out of 5 stars on Trustpilot, based on 1,679 reviews. This indicates a high level of client satisfaction with the services provided.
Verdict
Blueberry Markets is deemed a secure choice for traders, backed by tier-1 ASIC regulation and positive client feedback, reflecting its reliability and commitment to customer satisfaction.
Blueberry Markets’ requires a low minimum deposit across all account types, accompanied by diverse base currencies and fee-free deposit and withdrawal methods, providing traders with flexibility and convenience.
Blueberry Markets requires a low minimum deposit of $100 for all account types and regulatory environments, whether under ASIC or FSA regulation.
For traders interested in copy trading with DupliTrade, a minimum deposit of $2,000 USD is required to access the platform.
Blueberry Markets supports an eight different base currencies including AUD, CAD, CHF, EUR, GBP, NZD, USD, and SGD. This variety allows traders to choose a currency that best suits their financial situation and minimises currency conversion fees.
Blueberry Markets offers fee-free deposit methods, including credit card, bank transfer, and e-wallets, catering to a wide range of financial preferences.
However, availability and restrictions on deposit methods can vary by region and whether the you are registered with the CFD brokers ASIC or FSA regulated branch.
| Deposit Method | Branch | Availability | Currencies | Minimum Deposit | Fees |
|---|---|---|---|---|---|
| Commonwealth Bank | ASIC (Australia) | Australia | AUD | $100 | $0 |
| Credit Card | ASIC (Australia) | Australia | AUD, CAD, CHF, EUR, GBP, NZD, USD, SGD | $100 | $0 |
| Credit Card (Checkout) | FSA (International) | Global | AUD, CAD, CHF, EUR, GBP, NZD, USD, SGD | $50 | Fees for currency exchange may appl |
| Bank Wire (Currency Cloud) | FSA (International) | Global | AUD, CAD, CHF, EUR, GBP, NZD, USD, SGD | $50 | May incur third party fees from bank |
| Skrill | FSA (International) | Global | USD, CAD, EUR, GBP | $50 | $0 |
| PaymentAsia PHP (DragonPay) | FSA (International) | Philippines | PHP | $50 | $0 |
| PaymentAsia IDR | FSA (International) | Indonesia | IDR | $50 | $0 |
| PaymentAsia VNPAY | FSA (International) | Vietnam | VND | $50 | $0 |
| PaymentAsia FPX | FSA (International) | Malaysia | MYR | $20 | $0 |
| PaymentAsia THB | FSA (International) | Thailand | THB | $15 | $0 |
| KoraPay Bank Wire | FSA (International) | Kenya, Ghana, Nigeria | KES, GHS, NGN | $50 | $0 |
| Finrax (altcrypto) | FSA (International) | Global | ETH, BTC, XRP, USDT (TRC20, BEP20, ERC20), LTC, BCH, USDC | $50 | Network fees may apply depending on crypto exchange |
| CoinPayments (crypto) | FSA (International) | Global | USDT.TRC20, LTC, BTC | $100 | Network fees may apply depending on crypto exchange |
Blueberry Markets facilitates withdrawals through various methods such as bank transfer, credit card, and specific e-wallets, without imposing any withdrawal fees.
While the broker ensures a broad availability of withdrawal options across both ASIC (Australia) and FSA (International) branches, it’s important for traders to be aware that currency exchange, intermediary, and standard SWIFT fees may still apply, especially for international bank wires and credit card withdrawals.
The minimum withdrawal amount is set at $50, allowing traders flexibility in managing their funds.
| Withdrawal Method | Branch | Availability | Minimum Withdrawal | Fees |
|---|---|---|---|---|
| Commonwealth Bank | ASIC (Australia) | Australia | $50 | $0 |
| Credit Card | ASIC (Australia) | Australia | $50 | $0 |
| Credit Card | FSA (International) | Global | $50 | Fees for currency exchange may appl |
| Bank Wire (Currency Cloud) | FSA (International) | Global | $50 | May incur third party fees from bank |
| PaymentAsia IDR | FSA (International) | Indonesia | $50 | $0 |
| PaymentAsia VNPAY | FSA (International) | Vietnam | $50 | $0 |
| PaymentAsia FPX | FSA (International) | Malaysia | $50 | $0 |
| KoraPay Bank Wire | FSA (International) | Kenya, Ghana, and Nigeria | $50 | $0 |
| Finrax (altcrypto) | FSA (International) | Global | $65 | Network fees may apply depending on crypto exchange |
| CoinPayments (crypto) | FSA (International) | Global | $100 | Network fees may apply depending on crypto exchange |
Verdict
Blueberry Markets offers a straightforward and accessible funding process with a $100 minimum deposit, diverse base currencies, and fee-free deposit and withdrawal options.
Blueberry Markets provides a diverse trading environment with thousands of CFD products across five key asset classes: forex, shares, indices, commodities, and cryptocurrencies.
| Asset Class | Number of Products |
|---|---|
| Forex | 39 |
| Shares | 2,000 + |
| Indices | 30 + |
| Commodities | 4 |
| Cryptocurrency | 5 |
Traders have the opportunity to engage with 39 forex pairs, tapping into major, minor, and exotic markets. The online broker also offers an extensive selection of shares, with access to more than 2,000 global stocks, allowing traders to participate in the performance of leading and emerging companies worldwide.
For those interested in broader market trends, Blueberry Markets covers over 30 indices, including major global benchmarks. This enables you to speculate on the overall direction of stock markets without having to select individual stocks.
Commodities trading is another cornerstone of Blueberry Markets’ offering, with 4 key commodities available, providing a way to diversify portfolios and hedge against inflation or currency devaluation.
Cryptocurrency trading, available exclusively on the MT5 platform, includes five digital currencies like Bitcoin, Ethereum, Litecoin, Dash, and Ripple.
Verdict
Blueberry Markets offers a comprehensive and versatile trading experience with access to over 2,000 CFD products across forex, shares, indices, commodities, and cryptocurrencies, catering to a wide range of trading strategies and preferences.
Blueberry Markets provides 24/7 customer support, ensuring traders can access assistance at any time through live chat, email, and a detailed help centre. This service setup is designed to offer timely and effective support to traders, covering various aspects of their trading experience.
The help centre is a key resource for traders, offering information on a range of topics including how to start with Blueberry Markets, using the client portal, and managing deposits and withdrawals. It also provides guidance on trading platforms MetaTrader 4 and MetaTrader 5, catering to both new and experienced traders seeking operational support.
Premium Traders
For high volume traders, the Blueberry Premium status presents a specialised service tier, enhancing the trading experience significantly. This exclusive status not only offers the advantage of reduced spreads and commissions, which are crucial for maintaining cost efficiency in high-volume trading but also ensures personalised support through a dedicated Account Manager. Premium traders gain invaluable insights with access to expert market analyses, enabling informed trading decisions.
Additionally, membership in the Premium Club opens doors to exclusive hospitality events, fostering a sense of community among activ traders.
Blueberry Markets offers a comprehensive selection of research tools and educational materials designed for traders across all levels of experience.
Research Tools
Educational Resources
Overall, our Blueberry Markets review concludes that this brokerage trading firm offers moderately good trading conditions for its clients. While Blueberry Markets may not be the best forex broker for active traders, you can still use their trading platform (MT4 or MT5) to trade throughout the day.
Some things that have weighed negatively in our review include the limited number of CFD instruments, no proprietary trading platform, and mobile trading App, higher markup spreads, no additional trading tools, and no FCA licence.
We found their support extremely responsive, and all our inquiries were answered in a timely manner. However, the major focus of our review was the assessment of Blueberry Markets online trading service, which is not on the same level as the services provided by forex brokers like Pepperstone and FXCM.
At Blueberry Markets, the minimum deposit requirement is $100 for all account types and regulatory environments, regardless of whether you are under ASIC or FSA regulation. This low entry point ensures accessibility for traders of varying financial capacities, allowing them to start trading with a manageable initial investment.
Blueberry Markets offers leverage up to 30:1 for forex trading under ASIC regulation in Australia, and up to 500:1 through its FSA-regulated branch offshore. Leverage varies by asset class, with ASIC imposing caps of 30:1 for major forex pairs, 20:1 for minor fx pairs and gold, 10:1 for other commodities, 5:1 for stocks, and 2:1 for cryptocurrencies.
Blueberry Markets offers demo accounts on both the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, providing users with a risk-free environment to practice trading with a $100,000 virtual balance. Users can benefit from access to a range of trading tools, insights, and educational resources, making the MT4 and MT5 demos invaluable for traders of all levels to refine their trading strategies and skills.
Blueberry Markets is considered a safe broker with a trust score of 31 and tier-1 regulation. Regulated by the Australian Securities and Investment Commission (ASIC) for Australian residents and by the Vanuatu Financial Services Authority (FSA) for international clients, Blueberry Markets adheres to stringent regulatory standards ensuring transparency and secure handling of funds.
With a clean regulatory record since its establishment in 2016 and overwhelmingly positive customer feedback, including a 4.6 out of 5-star rating on Trustpilot based on 1,679 reviews, Blueberry Markets demonstrates a commitment to client satisfaction and safety.
At CompareForexBrokers, our reviews are aimed at helping traders discover the ideal forex broker for their needs. We meticulously evaluate 40 brokers across eight key categories, focusing on platform features, trade costs, and execution speeds. Our team of traders and industry experts conducts thorough research and testing using automation tools like Expert Advisors, Indicators, and Scripts.
Verdict
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Ask an Expert
Does Blueberry Markets charge fees for you to access leverage?
No, using leverage is a risk but it is not a direct cost. You don’t pay to access leverage, you do pay to make a trade regardless of whether you use leverage or not.
What is the difference between using EightCap or Blueberry Markets in Australia?
Blueberry Markets is a registered business name of Eightcap. This means Blueberry uses the same trading infrastructure as Eightcap and the same regulatory licences.