Eightcap vs Blueberry Markets: Which One Is Best?
This in-depth review of Eightcap and Blueberry Markets will carefully evaluate the traits and faults of each broker, following the traditions of the forex trading industry. The decision of whom to trust with your trading activities ultimately lies with you, the trader. We will transparently present the features that set these two brokers apart, guiding you to determine which one stands out as the better choice. Our conclusions are based on extensive research and analysis, but we invite you to make your own informed judgment.
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*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations
*CFD trading is not available in the USA due to NFA and CFTC regulations, American traders spot trade in place of CFDs.
Our comprehensive comparison covers the 10 most crucial trading factors to help you make an informed decision.
- Eightcap generally offers lower spreads notably on the EUR/USD pair.
- Blueberry Markets has a competitive edge with a lower spread on the USD/CAD pair.
- Blueberry Markets maintains spreads closer to the industry norm.
- Eightcap’s spreads are often below the industry average
- Both Eightcap and Blueberry Markets impose commissions on their Raw and Professional accounts.
- Both Eightcap and Blueberry Markets neither charge fees for deposits or withdrawals, benefiting traders.
1. Lowest Spread Forex Broker – Eightcap
For traders, working with brokers that offer the lowest spreads is highly advantageous, particularly for those who conduct multiple trades. Brokers with minimal spreads are more likely to attract clients by providing cost-effective trading options.
In this section, we see that Eightcap has the lowest spreads for 5 of the 6 most traded currency pairs compared to Blueberry Markets. We created the calculator below factoring the average spreads and the commissions charged based on the base currency a trader selects.
Actual Spreads Of Eightcap
Owing to the conflicting nature of spreads, the team combined MyFxBook data, the spreads of competitors’ forex broker comparison sites and the published spreads shown in the Eightcap trading cost section. Our head of research (Ross Collins) also conducted his own research by opening live MT4 accounts and using EAs (bots) over 48 hours to determine the average spreads. Combining these data sources led to the following consensus spreads.
| Eightcap | EUR/USD | USD/JPY | GBP/USD | AUD/USD | USD/CAD | EUR/GBP | EUR/JPY | AUD/JPY | All-in Cost EUR/USD - Active | EUR/USD Standard Account |
|---|---|---|---|---|---|---|---|---|---|---|
| MyFxBook | 0.2 | 0.3 | 0.8 | 0.4 | 0.6 | 0.2 | 0.4 | 16.3 | N/A | N/A |
| BrokerChooser | 0.1 | 0.2 | 0.2 | 0.3 | 0.3 | N/A | N/A | N/A | N/A | N/A |
| ForexBrokers.com | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.76 | 1 |
| CompareForexBrokers | 0.06 | 0.23 | 0.73 | 0.27 | 0.23 | 0.42 | 0.59 | 0.49 | N/A | N/A |
| Eightcap | 0.17 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1 |
| Consensus | 0.13 | 0.24 | 0.58 | 0.32 | 0.38 | 0.31 | 0.5 | 8.4 | 0.76 | 1 |
Actual Spreads Of Blueberry Markets
Now compare this to Blueberry, where we used similar data sources including MyFxBook data, Ross’s ECN Raw Account Spreads testing findings and published data on Blueberry Market’s website.
| Blueberry Markets | EUR/USD | USD/JPY | GBP/USD | AUD/USD | USD/CAD | EUR/GBP | EUR/JPY | AUD/JPY | All-in Cost EUR/USD - Active | EUR/USD Standard Account |
|---|---|---|---|---|---|---|---|---|---|---|
| MyFxBook | 0.17 | 0.6 | 0.8 | 0.3 | 0.8 | 0.6 | 0.8 | 14 | N/A | N/A |
| BrokerChooser | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| ForexBrokers.com | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| CompareForexBrokers | 0.27 | 0.43 | 0.44 | 0.32 | 0.5 | 0.7 | 1.9 | 0.6 | N/A | N/A |
| Blueberry Markets | 0.2 | 0.6 | 0.2 | 0.1 | 1.2 | 0.7 | 1.9 | 0.6 | N/A | N/A |
| Consensus | 0.21 | 0.54 | 0.48 | 0.24 | 0.83 | 0.67 | 1.53 | 5.07 | N/A | N/A |
Below are the consensus head-to-head spreads (AUD/JPY was removed as it blew out the chart) and really highlight just how much better Eightcap spreads are compared to Blueberry Markets.
Account Commission Comparison
The commission rate of each broker’s RAW account (ECN account) is based on the base currency the trader selects when opening an account. As below highlights, Eightcap offers more base currency options and has a more global reach of traders.
For the base currencies, both Eightcap and Blueberry Markets charge $3.50 per lot when opening and closing a position also known as a $7.00 round term per 1.0 standard lot. This is in-line with most global forex brokers from IC Markets, Pepperstone to FP Markets. With commission levels so similar, the real fee differential is the spread discussed earlier.
| Base Currency | Eightcap Commission Per Side | Blueberry Markets Commission Per Side | Eightcap Round Lot Commission | Blueberry Markets Round Lot Commission |
|---|---|---|---|---|
| USD | $3.50 | $3.50 | $7.00 | $7.00 |
| AUD | $3.50 | $3.50 | $7.00 | $7.00 |
| NZD | $3.50 | N/A | $7.00 | N/A |
| SGD | $3.50 | N/A | $7.00 | N/A |
| CAD | $3.50 | N/A | $7.00 | N/A |
| GBP | £2.25 | N/A | £4.50 | N/A |
| EUR | €2.75 | N/A | €3.50 | N/A |
Deposit & Withdrawal Fees
Both Eightcap and Blueberry Markets do not charge any deposit or withdrawal fees, which is a great advantage for traders.
Other Fees
There are no hidden fees with either broker. However, it’s important to note that a swap fee or overnight financing fee may apply if you hold positions overnight.
Based on our studies, we therefore conclude that Eightcap edges our Blueberry when it comes to brokerage with tighter spreads and competitive commissions. With the broker avoiding hidden fees (eg withdrawal fees) they are the clear choice for traders looking to minimise their trading costs.
Verdict
Eightcap outperfoms the challenger in this division thanks to their lowest spreads from a forex broker.2. Better Trading Platform – A Tie
We can truly see here that both Eightcap and Blueberry Markets offer MetaTrader 4 and 5, the most popular trading platforms in the forex industry. Let’s take a closer look at the Best cTrader Brokers. Keep in mind that having a trading platform that features enhanced user experience is beneficial for traders as it provides advanced tools for ease of use.
| Trading Platform | Eightcap | Blueberry Markets |
|---|---|---|
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | Yes | Yes |
| cTrader | No | No |
| TradingView | Yes | No |
| Copy Trading | Yes | Yes |
| Proprietary Platform | No | No |
MetaTrader 4 and 5
Both brokers offer MetaTrader 4 and 5, which are known for their user-friendly interface, advanced charting capabilities, and automated trading features.
cTrader and TradingView
Neither Eightcap nor Blueberry Markets offer cTrader. TradingView, on the other hand, is offered by Eightcap.
Social And Copy Trading
Both Eightcap and Blueberry Markets offer social or copy trading.
VPS and Other Trading Tools
Both brokers offer VPS services for better trading execution. They also provide a range of trading tools to assist their clients.
We can easily surmise that it’s a tie between Eightcap and Blueberry Markets, in terms of trading platforms, as they both offer MetaTrader 4 and 5, VPS services, and a range of trading tools.
Verdict
In this section, both Eightcap and Blueberry Markets, are definitely tied due to having better trading platform.3. Superior Accounts And Features – A Tie
Eightcap offers two types of accounts:
- Standard.
- Raw.
The Standard account is commission-free with slightly wider spreads, while the Raw account has tighter spreads but includes a commission. Let’s compare these with the Best spread betting brokers, but before we do, you need to keep in mind that having these features will provide traders with flexibility, advanced tools, and better trading conditions which will enhance the overall trading experience for traders, new or seasoned.
Blueberry Markets also offers two account types:
- Standard.
- Professional.
The Standard account is commission-free with wider spreads, while the Professional account has tighter spreads but includes a commission.
| Eightcap | Blueberry Markets | |
|---|---|---|
| Standard Account | Yes | Yes |
| Raw Account | Yes | Yes |
| Swap Free Account | No | No |
| Active Traders | No | Yes |
| Spread Betting (UK) | No | No |
| Criteria | Eightcap | Blueberry Markets |
|---|---|---|
| Standard Account | Yes | Yes |
| Raw/Professional Account | Yes | Yes |
Verdict
We have reached a tie between Eightcap and Blueberry Markets, owing to their exceptional accounts and features.4. Best Trading Experience And Ease – Eightcap
When it comes to trading experience – this trading feature gives access to reliable market data and various forex trading tools, which will enhance trader’s ability to make informed decisions, while, at the same time, managing risks most effectively – Eightcap really stands out with their TradingView featured platform. It’s a game-changer, offering a seamless, intuitive trading experience that’s hard to beat. Blueberry Markets, on the other hand, doesn’t offer TradingView, which could be a significant drawback for traders who swear by it.
- Eightcap offers the TradingView platform, which is a big plus.
- Blueberry Markets doesn’t have the TradingView platform in its arsenal.
- Both brokers offer the popular MT4 and MT5 platforms.
- Eightcap has been recognised for its ECN account, which enhances the trading experience.
Now, let’s talk about our own testing. Eightcap has the upper hand when it comes to execution speed. If quick trades are your thing, Eightcap should be at the top of your list.
Verdict
Eightcap takes home the crown in this category in light of their best trading experience.5. Stronger Trust And Regulation A Tie
If traders want a secured and transparent trading environment, go for a broker with strong trust and regulations. Conversely, offering competitive spreads and fees, sophisticated trading tools and platforms, fast execution speeds, exceptional customer support, and a variety of funding options can significantly elevate a trader’s overall experience.
Eightcap Trust Score
Blueberry Markets Trust Score
We see here that both Eightcap and Blueberry Markets are regulated by the Australian Securities and Investments Commission (ASIC), which is one of the most respected regulatory bodies in the world. This ensures that they adhere to strict regulatory standards, including client fund segregation and regular audits. Here’s more about ASIC Regulated Brokers.
| Eightcap | Blueberry Markets | |
|---|---|---|
| Tier 1 Regulation | FCA (UK) CYSEC (Cyprus) ASIC (Australia) | ASIC (Australia) |
| Tier 2 Regulation | ||
| Tier 3 Regulation | SCB (Bahamas) | SVG-FSA |
Verdict
Again, it’s a draw for both Eightcap and Blueberry Markets, this is in light of their stronger trust and regulation.6. Top Product Range And CFD Markets – Eightcap
Eightcap and Blueberry Markets both offer a wide range of products – which is beneficial for traders most especially those who want to capitalise on different market conditions – but Eightcap has a slight edge owing to having particularly strong in the crypto trading arena, offering a broader range of crypto CFDs than Blueberry Markets.
| Product Type | Eightcap | Blueberry Markets |
|---|---|---|
| Forex Pairs | ✓ | ✓ |
| Commodities | ✓ | ✓ |
| Indices | ✓ | ✓ |
| Stocks | ✓ | ✓ |
| Crypto | ✓ | ✗ |
| ETFs | ✗ | ✓ |
| Bonds | ✗ | ✓ |
| Options | ✗ | ✗ |
| Futures | ✗ | ✗ |
| Spread Betting | ✗ | ✗ |
Verdict
Eightcap dominates this category as a result of their top product range and CFD markets.7. Superior Educational Resources – Blueberry Markets
Evidently, Eightcap and Blueberry Markets both provide valuable educational resources, yet they target distinct audiences. Eightcap specializes in advanced strategies and webinars, appealing to more experienced traders, whereas Blueberry Markets emphasizes beginner-friendly tutorials and courses. Keep in mind that these educational offerings are essential in the forex trading industry, as they equip traders with a deeper understanding of market dynamics, empowering them to make informed decisions.
- Eightcap offers webinars and advanced trading strategies.
- Blueberry Markets provides beginner-friendly tutorials.
- Both brokers offer eBooks for traders.
- Eightcap provides articles on market analysis.
- Blueberry Markets offers trading courses.
- Both brokers provide a demo account for practice.
Verdict
Blueberry Markets stands out in this portion on account of having superior educational resources.8. Superior Customer Service – Blueberry Markets
Customer service is crucial due to the fact that they help traders resolve technical issues and at the same time hand out guidance and other important information to give traders an overall trading experience; both brokers get that principle. Based on our research, Eightcap offers 24/5 support, while Blueberry Markets goes the extra mile with 24/7 support, which is fantastic for weekend traders.
| Feature | Eightcap | Blueberry Markets |
|---|---|---|
| 24/5 Support | ✓ | ✗ |
| 24/7 Support | ✗ | ✓ |
| Live Chat | ✓ | ✓ |
| Email Support | ✓ | ✓ |
| Phone Support | ✓ | ✓ |
| Multilingual Support | ✓ | ✓ |
Verdict
Blueberry Markets takes the cake thanks to their superior customer service.9. Better Funding Options – Eightcap
Funding options are diverse for both brokers for it provides traders with flexibility and convenience. However, we see here that Eightcap has a slight edge over the challenger. It offers more crypto-based funding options, which could be a significant advantage for crypto enthusiasts.
| Funding Option | Eightcap | Blueberry Markets |
|---|---|---|
| Bank Transfer | ✓ | ✓ |
| Credit Card | ✓ | ✓ |
| PayPal | ✗ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| Crypto | ✓ | ✗ |
| WebMoney | ✗ | ✓ |
| UnionPay | ✓ | ✓ |
| FasaPay | ✓ | ✓ |
| Qiwi | ✗ | ✓ |
Verdict
Eightcap ranks highest in this category thanks to their better funding opition.10. Lower Minimum Deposit – A Tie
Our team’s research indicates that both Eightcap and Blueberry Markets mandate a minimum deposit of $100 from traders. This requirement signifies that forex trading is more accessible, catering to those looking to invest smaller amounts, whether you’re a novice or an experienced trader. Below, you will see the minor differences between the two brokers.
Eightcap
| Minimum Deposit | GBP | USD | EUR | AUD |
|---|---|---|---|---|
| Credit Card / Debit Card | £100 | $100 | €100 | $100 |
| Bank Wire | £100 | $100 | €100 | $100 |
| Skrill | N/A | $100 | €100 | N/A |
| Neteller | N/A | $100 | €100 | N/A |
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
Both Blueberry Markets and Eightcap are tied to this round. Thanks to having lower minimum deposit.So Is Blueberry Markets or Eightcap The Best Broker?
Eightcap steals the show just because it offers a more comprehensive trading experience, from lower spreads to a broader range of CFDs and funding options. The table below summarises the key information leading to this verdict.
| Criteria | Eightcap | 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: Best For Beginner Traders
Blueberry Markets is better suited for beginner traders due to its comprehensive educational resources.
Eightcap: Best For Experienced Traders
For experienced traders, Eightcap is the go-to option, especially with its advanced trading platforms and lower spreads.
FAQs Comparing Eightcap vs Blueberry Markets
Does Blueberry Markets or Eightcap Have Lower Costs?
Eightcap has lower costs, particularly when it comes to spreads. For example, the EUR/USD spread starts at 1.0 pips. For more information on low-cost brokers, you can visit our Lowest Spread Forex Brokers.
Which Broker Is Better For MetaTrader 4?
Both Eightcap and Blueberry Markets offer MetaTrader 4, but Eightcap has a slight edge with its lower spreads. For more details, check out our Best MT4 Forex Brokers.
Which Broker Offers Social Trading?
Neither Eightcap nor Blueberry Markets offer social or copy trading. If social trading is a priority for you, you might want to look elsewhere. Here’s our list of best copy trading platforms.
Does Either Broker Offer Spread Betting?
No, neither Eightcap nor Blueberry Markets offer spread betting. If you’re interested in spread betting, you can check out our best spread betting brokers in the UK.
What Broker is Superior For Australian Forex Traders?
In my opinion, Eightcap is superior for Australian Forex traders. It’s ASIC-regulated and offers a broad range of CFDs. For more information, you can visit our Best Forex Brokers In Australia list.
What Broker is Superior For UK Forex Traders?
For UK Forex traders, I’d recommend Blueberry Markets. It’s FCA-regulated and offers excellent customer service. For more details, you can check out our Best Forex Brokers In UK.
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