- What is Blueberry Markets?
- Blueberry Markets Pros and Cons
- Is Blueberry Markets safe or a scam?
- Market Instruments
- Deposits and Withdrawals
- Trading Platform
- Customer Support
What is Blueberry Markets?
Blueberry Markets is an Australian broker, also a trading name used by a quite popular larger broker EightCap that offers transparent pricing and allows to benefit from industry-leading technology solutions through the best liquidity providers.
The broker has been operating for over a decade and since then has gained a great reputation among traders and the industry itself. Blueberry Markets do provide not only tight spreads and light-speed execution but also tailored its solution towards ambitious traders that strive to become good players in a long-term game.
Blueberry Markets is a reputable, well-regulated broker with easy account opening, quality trading conditions, an ECN trading environment, and good education.
On the other hand, Blueberry has limited portfolio for trading instruments.
10 Points Summary
|🗺️ Regulation||ASIC, SCB|
|🖥 Platforms||MT4, MT5|
|📉 Instruments||Major and minor currency pairs, oil, gold, silver and global indices|
|💰 EUR/USD Spread||1 pips|
|🎮 Demo Account||Yes|
|💳 Minimum deposit||100$|
|💰 Base currencies||Various currencies supported|
|📚 Education||Education not available, only research tools|
|☎ Customer Support||24/7|
Blueberry Markets have also garnered collective recognition from award-giving bodies in the industry:
- Australasian Startup Awards 2018 – Best Bootstrapped Startup nominee
- Finder Innovation Awards 2020 – Best Online Customer Service finalist
Is Blueberry Markets safe or a scam
No, Blueberry Markets is not a scam. Blueberry Markets is a trading name used by EightCap respectively regulated by the Australian ASIC, which is also a broker Blueberry Markets, therefore group operates a safe trading environment with low-risk Forex and CFD trading.
Is Blueberry Markets legit?
In simple words, ASIC is a license received in Australia thus Blueberry Markets is a fully legit and regulated broker that also means trustable broker, as authority constantly oversees firms activity and trading service they provide, in reverse guaranteeing your safe investment. Australian Securities and Investments Commission (‘ASIC’), is also a recognized world authority that regulates Forex and the trading industry and is a custom-oriented regulator.
Therefore, Blueberry Markets and its EightCap company meet the highest standard of governance, financial reporting, and disclosure. All retail client funds are kept separately from business funds in segregated bank accounts while the broker also undertakes additional protection by the professional indemnity insurance policy.
One of the great features of Forex trading and a part of Blueberry Markets Review and check it is an allowance to use leverage, which may increase your potential gains timely.
As regularly leverage ratios fall under regulatory restrictions, Blueberry Markets being an Australian brokerage still allows high leverage ratios up to
- maximum leverage 1:500 for Forex instruments
- default leverage 1:30 for AU resident clients
This all in all brings vast opportunities specifically for retail traders, as your trading size may magnificently enlarge. Nevertheless, always learn deeply about how to use maximum leverage smartly as “unhealthy” use may increase your risk dramatically and demands some higher margins as well.
Blueberry Markets designed two account types in order to bring better opportunities for traders that would like to trade regular size trading or either being a beginning trader a Standard account features 0$ commissions.
Alternatively, their Direct account gives you more transparency so you can see the raw market spread. We then charge our brokerage costs at the completion of each trade.
Or if you’re a professional there is a possibility to trade through a professional account with better conditions and tailored solutions suitable for traders with experience and those that operate bigger size.
How to open an account
Obviously, you should follow the opening account or sign-in page and proceed with the guided steps. Also, you would be advised to upload a copy of your ID and residence in order to prove your identity, once the account is confirmed you will get access to your Client Portal where all your account management is happening and proceed with the first deposit.
Blueberry Markets spreads offering itself, and as already mentioned Blueberry Markets fees based on tight spread offering from 0.0 pips for professionals, also broker applies 0 commission on a standard account but charges higher spread with service mark-up.
|Fees||Blueberry Markets Fees||AvaTrade Fees||eToro Fees|
Standard accounts with the spread-only spreads are higher, due to costs that are inbuilt in the spread, so you will get around 1 pip for EUR USD, which is actually still considered a good proposal.
If you trade with a professional account, there is a commission charge of $7, which is also may be lowered for high-volume traders and spread is interbank offering typically 0.2 pips for EUR USD pair.
For instance, you may see below some of the recent spreads, as well compare Blueberry fees to another popular broker FP Markets
Comparison between Blueberry Markets fees and similar brokers
|Asset/ Pair||Blueberry Markets Spread||AvaTrade Spread||eToro Spread|
|EUR USD Spread||1 pips||1.3 pips||3 pips|
|Crude Oil WTI Spread||4||3||5|
Also, always consider overnight fee as a cost also referred to as Rollover rate, an interest for holding positions open overnight in foreign exchange trading. It is determined by the overnight interest rate and is a differential between two involved in trade currencies.
The marker range also includes access to vast trading instruments offered from Blueberry ECN including Forex, Oil and Metal commodities, Indices, Cryptocurrencies, and Australian and the US Share CFDs. The total number is around 300 instruments across major and most traded instruments.
Deposits and Withdrawals
The number of payment methods to fund the trading account will allow you to transfer funds easily by the use of Visa/MasterCard, Skrill, POLi Payment, fasapay, and Bank Wire Transfers.
While you may choose a base account currency which will also assist in seamless transfer with no conversion fees.
Blueberry Markets minimum deposit
The minimum deposit amount requires 100$ if you apply for a Standard account based on spread only. For professionals and accounts with tailored solutions, 2,000$ is the first deposit, considered a great opportunity for high-volume traders.
Blueberry Markets minimum deposit vs other brokers
|Blueberry Markets||Most Other Brokers|
Blueberry Markets does not charge any internal fees for deposits or withdrawals, also including wide selection of payment methods. Yet, you should check with your payment provider in case any fees are waived due to international policies for money transfers, as some charges may be applicable, as well as regulatory requirements for Withdrawals to Bank Account only or so.
How long does it take to withdraw money from Blueberry Markets?
Typically, the broker process the withdrawal transactions within 24 hours.
The next step in our Blueberry Markets Review is a definition of the platforms through which you will access to the trading environment itself.
|User friendly design|
|Rewarded trading software|
|Powerful technology and ECN environment|
Blueberry Markets uses MetaTrader4 and MetaTrader 5 its newer version as a platform, and the choice is not a surprise as its numerous features and tools bring the perfect combination to the technological execution. The platforms are available for almost any device including Web versions, desktop, and Mobile apps.
Eventually, both platforms do not require much saying, as being an “industry standard” software bringing powerful capabilities through great chart features, numerous add-on, automated trading opportunities through live Forex trading room and much more.
In addition, Blueberry desktop advanced platforms are packed with free tools, in-depth trading history and access to more capabilities available exclusively to Blueberry markets traders, which is great for both beginners and professionals.
Also, you may use Blueberry Markets mobile app that gives you full capacity of control over your orders or an account. Applications are available for both MetaTrader versions and suitable for any smartphone along with push notifications and great customization.
What we should mention with good points is a responsive 24/7 Customer Service that Blueberry Markets run. Their answers are quick and relevant, so you can count on good support and understanding of your concerns at any time. You can contact customer service via Live chat, emails, phone lines or leave a message with the contact form.
Blueberry Markets provide their clients with daily Forex market updates via their official YouTube page with the help of our Head Currency Analyst, Jonathan Kibbler. They also update their trading blog daily which is accessible via their website.
Bluberry Markets will support only with good research tools that are inbuilt into the platforms and available for free use. Also, there are copy trade options so you can get some trading ideas as well.
Concluding Blueberry Markets review, we admit safe broker to trade with, also established with respect to Australian laws and competitive pricing. What we really appreciate in its offering, is a great balance between the trading conditions, environment and support Blueberry Markets provides. Also, both beginning and experienced traders may find its good may in possible long-term trading success.
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