FP Markets
Blueberry Markets
Our Rating
8
4.42
FP Markets Review
BlueBerry Markets Review
The vast majority of retail investor accounts lose money when trading CFDs.

Regulations and Licenses

Feature
FP Markets
Blueberry Markets
ASIC (Australia)
CYSEC (Cypus)
Unregulated

Brokerage

Feature
FP Markets
Blueberry Markets
EUR/USD Avg. Raw Spread
0.20
-
GBP/USD Avg. Raw Spread
0.40
-
AUD/USD Avg. Raw Spread
0.30
-
EUR/USD Standard Spread
1.30
-
EUR/USD Fixed Spreads
-
-
Commissions (USD Base)
$3.00
$3.50
Minimum Deposit
$100
$100
Swap Free Account
No Inactivity Fees
Funding Methods
10+
7+
No Funding Fees

Markets and Instruments

Feature
FP Markets
Blueberry Markets
Currency Pairs
63+
45+
Cryptocurrency CFDs*
4+
10+
Index CFDs
14+
13+
Share CFDs
12,986+
51+
Commodities CFD
7+
5+
Stockbroking
-
-
Retail Max Leverage (Australia)
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Pro. Max Leverage (Australia)
500:1
500:1
Retail Max. Leverage (The United Kingdom)
Major Pairs 30:1
Minor Pairs 20:1
-
Pro. Max. Leverage (The United Kingdom)
500:1
-
Retail Max. Leverage (Europe)
Major Pairs 30:1
Minor Pairs 20:1
-
Pro. Max. Leverage (Europe)
500:1
-
Retail Max. Leverage (With offshore regulators)
500:1
500:1

*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations

Trading Platforms + Tools

Feature
FP Markets
Blueberry Markets
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
TradingView
Proprietary Platform
Automated Trading
Social + Copy Trading
Standard Stop Loss
Guaranteed Stop Loss
Demo Account
Unique Feature
Fastest Limit Order Execution Speed
No funding fees

Overall

FP Markets
Blueberry Markets
Our Rating
8
4.42
FP Markets Review
BlueBerry Markets Review
Visit Site
Visit Site

Do FP Markets Or Blueberry Markets Have The Lowest Fees?

Compared to FP Markets, Blueberry Markets has slightly lower fees on their standard and commission accounts.

Both FP Markets and Blueberry Markets offer a commission-free standard account and a Straight-Through-Processing (ECN/STP) commission account.

The standard accounts for each broker have an increased spread to cover commissions costs.

FP Markets call their commission account, the Raw account and Blueberry Markets call it Blueberry Direct account. These accounts have lower spreads since commissions are separate from the spread thus allowing spreads to be in line with the market.

Neither Broker Is A Good Choice For Their Standard Account

Both Blueberry Market and FP Markets have a minimum spread of 1.0 pips for the EUR/USD. This means you will be paying US $10 for each standard lot you trade.

FP Markets does average 1.2 pips for the EUR/USD pair, while Blueberry doesn’t provide their average spreads.

In either case, looking at the average spreads other brokers publish on their websites, there are clearly better choices.

Standard Account Spreads
1.30 1.40 1.50 1.50 1.40
0.75 0.85 1.40 1.19 0.86
0.86 0.74 1.19 1.19 0.83
0.70 1.30 1.30 2.20 1.40
0.80 0.90 1.70 1.80 0.80
1.20 1.10 1.10 1.70 1.40
1.30 1.50 1.80 2.00 1.30
1.10 1.20 1.40 1.50 1.20
1.20 1.20 1.40 1.40 1.20
1.20 1.20 1.40 1.40 1.40
1.30 1.50 1.50 1.70 1.70

Data taken from broker website. Accurate as at 01/05/2022

View FP Markets Review >>Visit FP Markets >>

FP Markets Have Superior Spreads With Their Commission Account

Both brokers spreads can be as low as 0.0 pips when using STP or commission style accounts. This is what one should expect from any broker when using these types of accounts.

The table below shows the average spreads with FP Markets. This broker is a good choice when looking for a broker with tight spreads.

Like with the standard account, Blueberry Markets don’t publish average spreads. So it is difficult to ascertain how tight spreads are with this broker.

That said, both brokers use straight-through-processing (STP) trading execution. FP Markets pool of liquidity providers consists of at least 14 major banks and financial institutions. These include Goldman Sachs, Citibank, HSBC and JP Morgan.

Blueberry markets use just 5-7 liquidity providers and don’t list these providers.

Since FP Market use more liquidity providers and have some transparency with their average spreads, this broker is the better choice.

ECN Broker Spreads
0.30 0.40 0.20 0.40 0.30
0.26 0.47 0.17 0.40 0.24
0.20 0.30 0.20 0.40 0.20
0.50 0.60 0.30 0.50 0.50
0.30 N/A 0.30 0.50 0.40
0.20 0.83 0.44 0.40 0.42
0.24 N/A 0.17 0.54 0.30
0.30 0.70 0.20 0.50 0.40
0.30 1.10 0.10 0.60 0.50
n/a 0.30 n/a 0.60 0.50
0.48 1.21 0.33 0.92 1.11

Data taken from broker website. Accurate as at 01/05/2022

FP Markets Have Better Commission Cost Transparency

Commission costs for Blueberry Markets and FP Markets are the same, at USD $7.00 round-turn for a standard lot.

If you are with FP Markets, commission costs with other currencies will be AUD/CAD/SGD $7.00, EUR €5.50, GBP £4.50, HKD $40, and JPY ¥500 round-turn for a standard lot (100k units).

Blueberry markets only charge in USD 7 (outside Australia). If you are using a different base currency, this will be converted at the spot rate at the time.

While you may pay more or less with Blueberry Markets (depending on the spot rate), FP Markets have greater transparency when it comes to commission costs.

View BlueBerry Markets Review >>Visit BlueBerry Markets >>

Do FP Markets Or Blueberry Markets Have A Better Reputation?

FP Markets and Blueberry Markets are both highly reputable brokers, and you will have no problems trading with either broker. However, FP Markets is a larger broker and with more regulators, so you may prefer to trade with FP Markets, particularly if you are based in the EU.

FP Markets Have Been Around Longer

FP Markets is one of the oldest online forex trading brokers, being founded back in 2005. Blueberry Markets was founded much more recently, in 2015.

FP Markets Get More Online Searches

Across Jan 2022, FP Markets recorded over 426.7 thousand visits according to SimilarWeb, while Blueberry Markets had half of that, at 220.7 thousand visits. This reflects the longevity and popularity of FP Markets compared to Blueberry Markets’ much smaller customer base.

FP Markets has more reviews and a higher rating score when it comes to Trustpilot. With over 2400 reviews and 4.9 stars, FP Market clearly exceeds Blueberry Markets 1141 reviews and 4.7 stars.

While FP Markets has more presence on TrustPilot. Blueberry Markets have more reviews on Forex Peace Army and Google Reviews.

On Forex Peace Army, Blueberry Markets have 224 reviews and 4 stars. FP Markets do not have a Forex Peace Army page.

On Google reviews, Blueberry Markets have 1278 reviews and 4.9 stars. FP Markets by contrast have 1,196 reviews and 4.9 stars.

FP Markets Is Regulated In More Regions

Both FP Markets and Blueberry Markets are regulated by ASIC in Australia, however, their regulation differs outside of Australia. So from a regulatory perspective, it won’t matter which broker you choose if you are in Australia.

FP Markets is the only broker using a European regulator. With CySEC (Cyprus) regulation, FP Markets can offer trading services throughout the European Union. Blueberry markets do not have an authorised regulator within Europe meaning traders in the European Union technically cannot legally use the broker.

All traders outside Australia with Blueberry markets have protection from the SCB (Bahamas) which is an offshore regulator.

Blueberry Markets use of SCB is a better offering than FP Markets. Traders outside Australia and Europe receive no such protections from a regulator. While FP Markets is registered as a company in St. Vincent and the Grenadines, this country has no formal financial regulator.

European traders should be trading with FP Markets. Australian traders can use either broker. Outside this, Blueberry Markets could be a wider option.

View BlueBerry Markets Review >>Visit BlueBerry Markets >>

What Are The Minimum Deposit Requirements For FP Markets And Blueberry Markets?

Both FP Markets and Blueberry Markets have a minimum deposit requirement, of $100 (or equivalent) for both their standard and direct (STP) accounts.

There are no fees for deposits or withdrawals, although your funding provider may have its own charges (particularly for international banks).

Deposit methods shared by both FP Markets and Blueberry Markets are Visa/Mastercard, POLi (Australia) and BPay (Australia), Bank Transfer, PayPal, Skrill, Union Pay (China).

FP Markets also offers more methods, including FasaPay (Indonesia), PayTrust (South-East Asia), NganLuong.vn (Vietnam), and allows Broker-to-Broker transfers.

View FP Markets Review >>Visit FP Markets >>

What Selection Of Platforms Is Available With Both Brokers?

Both brokers offer traders access to MetaTrader 4 and 5, but we found that IC Markets provides a superior MetaTrader offering compared to Blueberry Markets. Not only that, but IC Markets also allows you to trade on the cTrader platform, which Blueberry Markets does not offer.

FP Markets Is The Better Broker For MetaTrader 4

MetaTrader 4 (MT4) is the most popular trading platform in the world, while MT5 has more features, MT4 remains more popular than its successor, MT5. Almost all top brokers offer MT4 for you to trade with, and FP Markets and Blueberry Markets are no exception to that.

The longevity and success of MT4 can be attributed to its ease of use and their wide range of trading tools. These range from high-quality analytics, such as 9 chart timeframes, over 30 technical indicators and four different pending order types.

Both brokers allow you to use Expert Advisors (EAs) so you can automate your trading or access custom indicators. The MT4 marketplace for EA’s is one of the largest in the world, so if a good choice if you are looking for custom tools.

While both FP Markets and Blueberry Markets provide you with the MT4 platform, we find FP Markets’ offering is superior for the following reasons:

  • MT4 is designed for forex trading so it helps to if you have lots of forex pairs to trade. FP Markets lets you trade 63 different pairs while Blueberry Markets have 38 forex pairs.
  • MT4 Traders Toolbox; FP Markets provide 12 online trading tools to use with MT4. These are EA’s such as risk management tools and indicators.
  • MyFxBook for social trading, Blueberry Markets do not provide such an option with MetaTrader 4.
  • AutoChartist for more drawing and technical analysis capabilities. Blueberry Markets do not provide this or similar.

FP Markets offers traders with more forex products, access to social trading, and other tools such as AutoChartist. In comparison, Blueberry Markets does not offer anything substantial, and thus we recommend that you use FP Markets to trade on MT4.

The Better Broker For MetaTrader 5 Is Also FP Markets

MetaTrader 5 (MT5) is an upgrade on MT4, with MT5 being a more powerful platform (with 64-bit processing power) and supplying traders with even more technical indicators and tools than MT4 had. MT5 provides access to both decentralised and centralised markets, and as a result, products previously unavailable on MT4 such as some shares and cryptocurrencies are now available for you to trade.

FP Markets is the better MT5 broker for many of the same reasons as why it was superior to Blueberry Markets for MT4

The product range offered by FP Markets on MT5 is even wider, with 814 shares from exchanges ranging from the NYSE, NASDAQ or ASX to other exchanges such as the LSE or HKSE. This takes FP Markets’ product range to over 900 different instruments.

Meanwhile, Blueberry Markets only provides around 300 financial instruments, with the shares concentrated within the Australian and US Markets.

The social-trading options available on MT4 are still available on MT5, and you can still access AutoChartist on FP Markets’ MT5 platform.

Overall, this means that FP Markets is also superior to Blueberry Markets on their MT5 offerings.

FP Markets Also Offers IRESS And They Have A Mobile Social-Trading App

Alongside their MetaTrader platform offerings, FP Markets provides Australian traders with IRESS, and non-Australian traders with their proprietary social-trading app.

IRESS is a web-based trading platform that provides you with access to over 10,000 stocks on a range of global markets. FP Markets’ IRESS uses Direct Market Access (DMA) to increase transparency for you, allowing you to clearly see where in the queue your order is.

FP Markets’ mobile social-trading app allows you to copy the trades of professional or extremely successful traders with the tap of a button, however, it is only available to non-Australian traders. This is extremely beneficial for new traders, as it would allow you to learn from some of the world’s most successful CFD traders.

Having these extra platforms makes FP Markets stand out even further from Blueberry Markets, which only allows you to use MT4 and 5.

View FP Markets Review >>Visit FP Markets >>

Which Brokers Offer Swap-Free Or Islamic Accounts?

FP Markets is the only broker with a swap-free/Islamic account, which is available for both their Standard and Raw Spread accounts. Blueberry Markets does not offer traders any form of swap-free or Islamic account.

The Islamic account offered by FP Markets charges no swap fee (interest) for holding positions overnight, meaning that Islamic traders can engage in overnight CFD trading while staying in compliance with sharia law.

Instead of swaps, you will tp pay need an administration fee. FP Market applies an administration fee every 11th day you have an open position (10 overnights). However, note that you will still have to pay an ‘administration fee’ each time you do hold your position overnight.

This administration fee will vary depending on your currency. Most major pairs are $5 per night and indices $1 per night. But administration fees will vary for other currency pairs and products.

Overall, if you are looking for an Islamic or swap-free account, you should choose to trade with FP Markets instead of Blueberry Markets.

View FP Markets Review >>Visit FP Markets >>

About the author: Justin Grossbard

Justin Grossbard has been investing for the past 20 years and writing for the past 10. He co-founded Compare Forex Brokers in 2014 after working with the foreign exchange trading industry for several years. He also founded a number of FinTech and digital startups including Innovate Online and SMS Comparison. Justin holds a Masters Degree and an Honours in Commerce from Monash University. He and his wife Paula live in Melbourne, Australia with his son and Siberian cat. In his spare time, he watches Australian Rules Football and invests on global markets.

Other vs Pages