FXCM vs BlueBerry Markets Broker Comparison

Which Broker Has Lowest Trading Costs?

Trading costs can significantly impact a trader’s profitability. Let’s examine the costs associated with FXCM and Blueberry Markets.

1. Spreads

Looking at the data, it’s clear that there are some differences in the average standard account spreads between FXCM, Blueberry Markets, and the industry average. For most forex pairs, FXCM tends to have slightly higher spreads than Blueberry Markets. This isn’t necessarily a bad thing, as spreads can fluctuate based on market conditions and other factors. However, it’s something to keep in mind when choosing a broker.

Blueberry Markets, on the other hand, consistently offers lower spreads than the industry average. This is a significant advantage for traders, as lower spreads can lead to lower trading costs. However, it’s important to remember that spreads are just one factor to consider when choosing a broker. Other factors, such as the trading environment, regulation, and customer service, are also important.

Standard Account Analysis Updated September 2023[1]September 2023 Published And Tested Data

Comparing these brokers to the industry average, both FXCM and Blueberry Markets offer competitive spreads. However, Blueberry Markets stands out for its consistently lower spreads. This suggests that Blueberry Markets may be a more cost-effective choice for traders who prioritize low spreads. However, as always, I recommend doing your own research and considering all factors before choosing a broker.

2. Commissions

FXCM charges a commission on its ECN account, while Blueberry Markets does not charge any commission on its standard account but does charge a commission on its professional account.

3. Deposit & Withdrawal Fees

Neither FXCM nor Blueberry Markets charge any deposit or withdrawal fees, making it easier for traders to manage their funds.

4. Other Fees

FXCM charges an inactivity fee if an account is inactive for a year, while Blueberry Markets does not charge any inactivity fees.

Verdict: Based on our comparison, Blueberry Markets appears to have lower trading costs due to its tighter spreads and lack of inactivity fees.

Blueberry Markets ReviewVisit Blueberry Markets

Who Has The Best Trading Environment?

A forex broker’s trading environment can significantly impact a trader’s experience and profitability. Our exclusive research on execution speeds reveals that FXCM ranks 6th among 20 brokers tested, indicating a relatively fast execution speed. This is crucial to avoid slippage and ensure your orders are filled at the requested price. Blueberry Markets was not part of this test, so we cannot directly compare their execution speeds.

Verdict: Based on available data, FXCM provides a superior trading environment due to its faster execution speeds.

FXCM ReviewVisit FXCM

What Trading Platforms Are Offered?

Trading platforms play a crucial role in forex trading as they provide the necessary tools and features for effective trading.

1. MetaTrader 4 and 5

Both FXCM and Blueberry Markets offer MetaTrader 4, the most popular trading platform among forex traders. Additionally, FXCM also provides MetaTrader 5, the newer and more advanced version of the platform.

2. cTrader and TradingView

While neither FXCM nor Blueberry Markets offer cTrader or TradingView, they both provide their proprietary platforms that come with advanced charting tools and features.

3. Social And Copy Trading

FXCM offers social and copy trading through ZuluTrade, NinjaTrader, and MetaTrader Signals. Blueberry Markets also offers social and copy trading through MetaTrader Signals.

Verdict: Both forex brokers offer social and copy trading through MetaTrader Signals. However, FXCM provides additional options with ZuluTrade and NinjaTrader.

FXCM ReviewVisit FXCM

4. Automated Trading

Trading Tools

FXCM offers Expert Advisors (EAs) and Capitalise.ai for automated trading. These tools allow traders to automate their trading strategies and manage their trades effectively.

Blueberry Markets offers Expert Advisors (EAs) for automated trading. EAs are programs that automate trading operations based on predefined strategies.

Verdict: Both brokers offer Expert Advisors for automated trading. However, FXCM provides an additional tool, Capitalise.ai, for more advanced automated trading.

FXCM ReviewVisit FXCM

5. VPS and Other Trading Tools

Both brokers offer VPS services for seamless trading. Additionally, FXCM provides a suite of trading tools, including trading signals, technical analysis tools, and economic calendars.

Verdict: FXCM offers a morecomprehensive range of trading platforms and tools, including MetaTrader 5 and social and copy trading features.

FXCM ReviewVisit FXCM

What Account Types Are Available?

FXCM offers two main types of accounts: Standard and Active Trader. The Standard account is suitable for most traders, while the Active Trader account is designed for high-volume traders and offers lower spreads and commissions.

Blueberry Markets, on the other hand, offers two types of accounts: Standard and Professional. The Standard account offers zero commission trading with slightly wider spreads, while the Professional account offers tighter spreads with a commission.

Verdict: Both brokers offer a choice of account types to suit different trading styles and volumes. However, FXCM’s Active Trader account may be more appealing to high-volume traders due to its lower spreads and commissions.

FXCM ReviewVisit FXCM

Who Has Better Trust And Regulation?

FXCM is regulated by several top-tier financial authorities, including the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA) in the UK, the Investment Industry Regulatory Organization of Canada (IIROC), the Financial Sector Conduct Authority (FSCA) in South Africa, the Autorité des marchés financiers (AMF) in France, the Israel Securities Authority (ISA), and the Cyprus Securities and Exchange Commission (CySEC). This extensive regulation provides traders with a high level of trust and security.

Blueberry Markets is regulated by the ASIC and the Vanuatu Financial Services Commission (VFSC), which are both reputable regulatory authorities. However, it lacks the additional regulation by other top-tier authorities that FXCM has.

Verdict: FXCM has better trust and regulation due to its regulation by multiple top-tier financial authorities.

FXCM ReviewVisit FXCM

Which Broker Has Superior Customer Service Levels

Both FXCM and Blueberry Markets offer excellent customer service, including 24/5 live chat, email, and phone support. However, Blueberry Markets is known for its exceptional customer service, with highly responsive and helpful customer support representatives.

Verdict: While both brokers offer good customer service, Blueberry Markets stands out for its exceptional customer support.

Blueberry Markets ReviewVisit Blueberry Markets

Other Trading Factors

Minimum Deposit Levels

FXCM requires a minimum deposit of $50, while Blueberry Markets requires a minimum deposit of $100.

Payment Methods

Both brokers offer a variety of payment methods, including credit card, bank transfer, and e-wallets like Skrill and Neteller.

Other Factors

Both brokers offer a wide range of trading instruments, including forex, CFDs, and commodities. However, FXCM offers a broader range of instruments, including indices and cryptocurrencies.

Verdict: FXCM offers a wider range of trading instruments and a lower minimum deposit, making it a more flexible choice for traders.

FXCM ReviewVisit FXCM

Our Take On Which Broker Is Best

Best For Beginner Traders: Blueberry Markets is the best choice for beginner traders. With its user-friendly platform, excellent customer service, and competitive spreads, it provides a supportive and cost-effective environment for those new to forex trading.

Best For Experienced Traders: FXCM is the best choice for experienced traders. With its advanced trading tools, diverse market offerings, and fast execution speeds, it caters well to the needs of seasoned traders.