Our comprehensive comparison of FXCM vs BlueBerry Markets dissects key areas like trading costs, Forex trading platforms, and regulations to help you choose the right Forex broker.
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Our full comparison covers the 10 most important trading factors between FXCM and BlueBerry Markets. Here are five key differences:
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.
| Forex Pair | FXCM | Blueberry Markets | Industry Average |
|---|---|---|---|
| EUR/USD | 1.7 | 1.2 | 1.2 |
| USD/JPY | 1.4 | 0.9 | 1.2 |
| GBP/USD | 1.8 | 1.3 | 1.3 |
| AUD/USD | 1.3 | 0.8 | 1.2 |
| USD/CHF | 1.5 | 1.0 | 1.2 |
| USD/CAD | 1.5 | 1.0 | 1.3 |
| NZD/USD | 1.8 | 1.3 | 1.3 |
| EUR/GBP | 1.5 | 1.0 | 1.2 |
| EUR/JPY | 1.7 | 1.2 | 1.2 |
| GBP/JPY | 2.0 | 1.5 | 1.5 |
Standard Account Analysis Updated December 2024 [1]December 2024 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.
| Criteria | FXCM | Blueberry Markets |
|---|---|---|
| Average Spread for EUR/USD | 1.3 pips | 0.9 pips |
| Commission | Yes (on ECN account) | No (on standard account) |
| Deposit & Withdrawal Fees | No | No |
| Inactivity Fees | Yes | No |
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Trading platforms play a crucial role in forex trading as they provide the necessary tools and features for effective trading.
| Trading Platform | FXCM | BlueBerry Markets |
|---|---|---|
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | No | Yes |
| cTrader | No | No |
| TradingView | Yes | No |
| Copy Trading | Yes | Yes |
| Proprietary Platform | Yes | No |
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.
| Broker | Social and Copy Trading Platforms |
|---|---|
| FXCM | MetaTrader Signals, ZuluTrade, NinjaTrader |
| Blueberry Markets | MetaTrader Signals |
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.
| Broker | Automated Trading Tools |
|---|---|
| FXCM | Expert Advisors (EAs), Capitalise.ai |
| Blueberry Markets | Expert Advisors (EAs) |
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 more comprehensive range of trading platforms and tools, including MetaTrader 5 and social and copy trading features.
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.
| FXCM | GO Markets | |
|---|---|---|
| Standard Account | Yes | Yes |
| Raw Account | Yes | Yes |
| Swap Free Account | Yes | No |
| Active Traders | Yes | Yes |
| Spread Betting (UK) | Yes | No |
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.
| Criteria | FXCM | Blueberry Markets |
|---|---|---|
| Standard Account | Yes | Yes |
| Account for High-Volume Traders | Yes (Active Trader) | Yes (Professional) |
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.
| Criteria | FXCM | Blueberry Markets |
|---|---|---|
| Execution Speed | 6th among 20 brokers | Not Available |
FXCM Trust Score
Blueberry Markets Trust Score
FXCM is regulated by several top-tier financial authorities, including the ASIC Regulated Brokers, 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.
| FXCM | BlueBerry Markets | |
|---|---|---|
| Tier 1 Regulation | ASIC (Australia) FCA (UK) CYSEC (Cyprus) CIRO (CANADA) BaFin (Germany) | ASIC (Australia) |
| Tier 2 Regulation | FSCA (South Africa) ISA (Israel) | |
| Tier 3 Regulation | SVG-FSA |
Verdict
FXCM has better trust and regulation due to its regulation by multiple top-tier financial authorities.
When it comes to the diversity of trading instruments, both FXCM and Blueberry Markets have their unique strengths. FXCM offers a wide range of CFDs, including forex, indices, and cryptocurrencies. BlueBerry Markets, although not as diverse, focuses on forex and commodities, providing traders with a more specialised trading environment.
Here’s a table comparing the range of CFDs, products, and markets available:
| Trading Instruments | FXCM | BlueBerry Markets | Our Testing Results |
|---|---|---|---|
| Forex CFD | 42 | 38 | |
| Shares CFD | 219 | 300+ | |
| Cryptos CFD | 7 | 10 | |
| Commodities CFD | 3 Metals, 5 Energies, 3 Softs | 9 Metals, 3 Energies | |
| Indices CFD | 16 | 19 | |
| Bonds/Treasuries CFD | 1 | No | |
| Spread Betting (UK only) | Yes | No | |
| Other Products | No | No | |
| Minimum Deposit | $50 | $100 | |
| Payment Methods | Credit Card, Bank Transfer, E-Wallets | Credit Card, Bank Transfer, E-Wallets |
Verdict
Based on the available data and our own testing, FXCM offers a more comprehensive range of trading instruments, making it the better choice for traders looking for diversity in CFDs and markets.
Education is a critical factor for both beginner and experienced traders. A broker that offers robust educational resources can significantly enhance a trader’s skills and understanding of the markets. Both FXCM and Blueberry Markets offer educational resources, but the depth and breadth of these resources vary.
Here are six dot points comparing the educational resources each broker offers:
Verdict
FXCM offers a more comprehensive range of educational resources, making it the better choice for traders looking to expand their knowledge and skills.
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.
| Criteria | FXCM | Blueberry Markets |
|---|---|---|
| 24/5 Live Chat | Yes | Yes |
| Email Support | Yes | Yes |
| Phone Support | Yes | Yes |
Funding options are an essential consideration for traders as they dictate how easily you can deposit and withdraw funds from your trading account. FXCM offers a variety of funding options, including credit cards, bank transfers, and e-wallets like Skrill and Neteller. Blueberry Markets also provides multiple funding options but lacks the diversity that FXCM offers, primarily focusing on credit cards and bank transfers.
Here’s a table comparing the funding options available:
| Funding Options | FXCM | Blueberry Markets |
|---|---|---|
| Credit Card | ✅ | ✅ |
| Bank Transfer | ✅ | ✅ |
| Skrill | ✅ | ❌ |
| Neteller | ✅ | ❌ |
| PayPal | ❌ | ❌ |
| Bitcoin | ❌ | ❌ |
| UnionPay | ✅ | ❌ |
| WebMoney | ❌ | ❌ |
| Wire Transfer | ✅ | ✅ |
| Other E-Wallets | ✅ | ❌ |
Verdict
FXCM offers a broader range of funding options, making it the more versatile choice for traders.
FXCM has a lower minimum deposit of $50 against $100 by BlueBerry Markets.
Here’s a table comparing the minimum deposit requirements:
| Minimum Deposit | Recommended Deposit | |
| FXCM | $50 | $50 |
| BlueBerry Markets | $100 | $100 |
Verdict
FXCM wins with its $50 requirement for deposits. This amount is attractive to beginner traders, and with how FXCM performed well in our other categories, this just seals the deal.
| Broker | Standard Account | Additional Deposits |
|---|---|---|
| FXCM | $300 | $50 per deposit |
| BlueBerry Markets | $100 | N/A |
Verdict: BlueBerry Markets offers a lower minimum deposit requirement, making it a more accessible option for traders who are just starting out or have limited funds.
FXCM is the winner because it outperforms Blueberry Markets in multiple key areas, such as trading platforms, account features, and educational resources. The table below summarises the key information leading to this verdict.
| Criteria | FXCM | 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 better suited for beginner traders due to its superb customer service.
FXCM is the better choice for experienced traders, offering a wide range of products and advanced trading platforms.
Blueberry Markets has lower costs compared to FXCM. Blueberry Markets offers lower spreads, making it more cost-effective for traders. For example, the EUR/USD spread can go as low as 0.0 pips. For more information on low-cost brokers, you can visit this comprehensive guide on Lowest Commission Brokers.
Both FXCM and Blueberry Markets offer MetaTrader 4, but FXCM provides more advanced features and tools. FXCM’s MetaTrader 4 platform is highly customizable and offers a range of advanced trading tools. For a detailed comparison of MetaTrader 4 brokers, check out this list of the best MT4 brokers.
Neither FXCM nor Blueberry Markets offer social or copy trading features. If you’re interested in social trading, you may need to look for other brokers that specialize in this area. For more options, you can explore this list of the best social trading platforms.
FXCM offers spread betting, but Blueberry Markets does not. FXCM provides this service specifically for UK traders, allowing them to take advantage of tax benefits. For more details on spread betting brokers, you can check out this list of the best spread betting brokers in the UK.
In my opinion, Blueberry Markets is superior for Australian Forex traders. Blueberry Markets is ASIC-regulated and founded in Australia, offering a sense of trust and local expertise. FXCM, although ASIC-regulated, is based overseas. For more information, you can visit this comprehensive guide on the Best Forex Brokers In Australia.
For UK traders, I believe FXCM is the superior choice. FXCM is FCA-regulated and offers a range of services including spread betting, which is tax-efficient for UK residents. Blueberry Markets, on the other hand, is not FCA-regulated and is based overseas. For a detailed comparison, you can check out this list of the Best Forex Brokers In UK.
No commission account spread propiety testing data and published wesbite spread information, centralised on our Standard Account Spreads page.
Ask an Expert
Does Blueberry Markets have negative balance protection?
Yes, negative balance protection is required to be offered to Australian as part of their ASIC license.