- What is Blueberry Markets?
- Is Blueberry Markets safe or a scam?
- Market Instruments
- Deposits and Withdrawals
- Trading Platform
- Customer Support
- Conclusion on Blueberry Markets
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 best liquidity providers.
The broker operates over a decade since 2009 and since then gained a great reputation among traders and 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.
|Strong establishment and well regulated broker||Total range of instruments limited|
|Good range of currency pairs||Education not available|
|Quality 24/7 Support|
|Trading through ECN|
10 Points Summary
|Instruments||Major and minor currency pairs, oil, gold, silver and global indices|
|Fees||Low ECN fees|
|Base currencies||Various currencies supported|
|Education||Education not available, only research tools|
Is Blueberry Markets safe or a scam?
Blueberry Markets being 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 for your benefit.
|Regulated international broker||No negative balance protection|
|Part of a trustable and reputable Brokerage group|
|Strong protective measures under ASIC license|
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 recognized world authority which regulated Forex and trading industry and is custom oriented regulator.
Therefore, Blueberry Markets and its EightCap company meets 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
Which all in all bringing vast of 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.
|Standard and Professional Accounts||None|
Blueberry markets designed two account types in order to bring better opportunity for traders that would like to trade regular size trading or either being a beginning trader a Standard account features 0$ commissions.
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 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 you account management is happening and proceed with the first deposit.
So getting to 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.
|Options between standard fees with spread only and Professional account with a commission||Standard Spread examples are not very clear|
ECN Trading Fees
If you trade with a professional account, there is a commission charge $7, which is also may be lowered for high-volume traders and spread is interbank offering typically 0.2 pips for EUR USD pair.
Standard account with the spread only spreads are higher, due to costs that are inbuilt in the spread, so you will get around 1 pips for EUR USD, actually still considered a good proposal.
For instance, you may see below some of the recent spreads, as well compare Blueberry fees to another popular broker FP Markets
Comparison between Blueberry Markets fees and similar brokers
|Asset/ Pair||Blueberry Markets Fees||AvaTrade Fees||eToro Fees|
|EUR USD||1 pips||1.3 pips||3 pips|
|Crude Oil WTI||4||3||5|
Also, always consider overnight fee as a cost also referred to as Rollover rate, an interest for holding positions open overnight in foreign exchange trading. It is determined by the overnight interest rate and is a differential between two involved in trade currencies.
The marker range also includes access to vast trading instruments offered from Blueberry ECN including major and minor currency pairs, oil, gold, silver and global indices. Total number is 54 instruments across major and most traded instruments.
Deposits and Withdrawals
|Low Minimum deposit||None|
|GProsreat selection of deposit options including Credit Cards and e-wallets|
|Free of charge deposit and withdrawals within Australia|
The number of payment methods to fund the trading account will allow you to transfer funds easily by the use of Visa/MasterCard, Skrill, POLi Payment, fasapay, and Bank Wire Transfers.
While you may choose a base account currency which will also assist in seamless transfer with no conversion fees.
What is the minimum deposit for Blueberry Markets?
The minimum deposit amount requires only 100$ if you apply for a Standard account based on spread only. It is indeed a fantastic opportunity for the beginning traders, while professionals would prefer the account of a tailored solution designed for an experienced trader. This professional account demands 2,000$ as a first deposit, considered a great opportunity for high-volume traders as well.
Blueberry Markets promises seamless withdrawal, while typically broker does not charge any internal fees for deposits or withdrawals. 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 1-2 business days, yet add on more days for your bank provider to take some operation days as well.
The next step in our Blueberry Markets Review is a definition of the platforms through with you will access 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 bringing the perfect combination to the technological execution. The platforms available for almost any devices including Web version, desktop and Mobile apps.
Eventually, both platforms do not require much saying, as being an “industry standard” software bringing powerful capabilities though great chart features, numerous add-on, automated trading opportunities through live Forex trading room and much more.
In addition, Blueberry desktop advanced platforms 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 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 runs. 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 contact form.
|Quality customer support with live chat 24/7||None|
However, the only missing point we see within or Blueberry Markets review is good education, since the broker does not provide traders with Education materials, courses, webinars or videos. Therefore, if you are a very beginning trader you better sick for third party education providers or sign in for a good course.
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.
|Free Demo account for 30 days||Education Courses and materials are not available|
Concluding Blueberry Markets review, we admit an authorized, hence 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. Alternative forex brokers are FP Markets and Go Markets which are both ASIC regulated in Australia and with good trading conditions.
And of course, we would be glad to know your personal opinion about Blueberry Markets, share your experience or refer to us for some additional information on the comment area below.
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