What is Blueberry Markets?
Blueberry Markets is an Australian broker, as well as a trading name utilized by a pretty popular broker EightCap, providing transparent pricing and enabling industry-leading technology solutions via the best liquidity providers.
The broker has been operating for more than 10 years since 2009 and has since gained a great reputation among traders and the industry itself. Blueberry Markets deliver not just tight spreads and fast execution, but also seek to suit their offering to ambitious traders who want to become pros in a long-term game.
- Strong establishment and well-regulated broker
- Good range of currency pairs
- Quality support 24/7
- Trading via ECN
- Total range of instruments is limited
- Education is not available
Summary of 10 Points
|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 secure or is it a scam?
Blueberry Markets is a trading name utilized by EightCap and regulated by the Australian ASIC, which is a broker for Blueberry Markets, too, and thus the group runs a secure environment for trading for your benefit.
- International regulated broker
- Part of a trustworthy and reputable brokerage group
- Strong protection measures under the ASIC license
- No negative balance of protection
Is Blueberry Markets legit?
Simply put, ASIC is a license received in Australia, so Blueberry Markets is a fully legit and regulated broker, as an authority oversees the business activities and trading services they provide to ensure your safe investment. The Australian Securities and Investments Commission (‘ASIC’) is also a recognized global authority that regulates Forex and trading industries and is a custom-oriented regulator.
Blueberry Markets and its EightCap Company therefore meet the highest standards of governance, financial reporting and disclosure. All retail client funds are kept separate from business funds in segregated bank accounts, while the broker also provides additional protection through a professional insurance policy.
Leverage allowance use may increase your potential gains in time.
As leverage ratios fall under regulatory constraints on a regular basis, being an Australian brokerage, Blueberry Markets still allows for high leverage ratios up to:
- Maximum leverage 1:500 for Forex tools
Which all in all bring vast opportunities specifically to retail traders, as your trading size may enlarge. However, always learn how to use maximum leverage smartly as “unhealthy” use can dramatically increase your risk and also require some higher margins.
- Standard and Professional Account
- Copy Trade
- Demo Account
- None of them
Types of Account
Blueberry Markets have designed two types of accounts in order to give traders a better chance of trading on a regular basis or of being a beginner a Standard account with 0$ commissions.
Or if you are an expert, there is a chance for trading via a pro account with better conditions and tailored solutions that are good for professional traders and larger-size traders.
How can I open an account?
You should follow the opening account or sign in page and follow the guided steps. You would also be advised to upload a copy of your ID and residence in order to prove your identity, and once the account has been confirmed, you will have access to your Client Portal, where all your account management is taking place, and proceed with the first deposit.
So to get to Blueberry Markets spreads offering itself, the fees are based on a narrow spread offering of 0.0 pips for professionals, while the broker also applies 0 commission on a standard account but charges a higher spread with a service mark-up.
- Options between standard spread-only fees and professional commission account
- Deep liquidity
- Low fee
- The examples of standard spread are not very clear
ECN Trade Fees
If you trade with a professional account, there is a commission charge of $7, which may also be lowered for high-volume traders and spread is an interbank offering typically 0.2 pips per EURUSD pair.
Standard spread-only account is higher due to the costs that are included in the spread, so you’ll get around 1 pip for EUR USD, actually still considered a good proposal.
For example, you can see below some of the recent spreads.
Comparison of Fees for Blueberry Markets 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 the overnight fee as a cost also referred to as the Rollover rate, an interest in holding positions open overnight in forex trading. It is determined by the overnight interest rate and there is a difference between the two involved in trading currencies.
The range of markers also includes access to vast trading instruments offered by Blueberry ECN, including major and minor currency pairs, oil, gold, silver and global indices. The total number of instruments is 54 across the major and most traded instruments.
Deposits and Withdrawals
- Minimum deposit is low
- GProsreat selection of deposit options including credit cards and e-wallets
- Free of charge deposits and withdrawals in Australia
- None of them
Options for Deposit
The number of payment methods used to fund a trading account will allow you to transfer funds easily by using Visa/MasterCard, Skrill, POLi Payment, Fasapay and Bank Wire Transfers.
You may choose a basic account currency that will also help with a seamless transfer without any conversion fees.
What’s the minimum deposit for Blueberry Markets?
The minimum deposit amount is only $100 if you apply for a standard spread-based account. It is indeed a fantastic opportunity for start-up traders, while pros would prefer the account of a tailored solution designed for an experienced trader. This professional account requires $2,000 as a first deposit, which is also considered a great opportunity for high-volume traders.
Blueberry Markets promises a seamless withdrawal, while the broker generally does not charge any internal fees for deposits or withdrawals. However, you should check with your payment provider if any fees are waived due to international money transfer policies, as some charges may apply, as well as regulatory requirements for withdrawals to bank accounts only or so.
How long will it take to withdraw money from Blueberry Markets?
Typically, brokers process withdrawal transactions within 1-2 business days, but add more days for your bank provider as well.
Platforms for Trading
The next step in our Blueberry Markets Review is to define the platforms through which you will have access to the trading environment itself.
- User-friendly design
- Rewarded trading software
- Powerful technology and ECN environment
- Mobile Trading
- None of them
Blueberry Markets uses the newer version of MetaTrader4 and MetaTrader 5 as a platform, and the choice is not surprising, as its many features and tools bring the perfect combination to technological execution. Platforms are available for almost any device, including the Web version, desktop and mobile apps.
Platform for Desktop
Eventually, both platforms do not require much to say, such as being an “Industry Standard” software that delivers powerful capabilities though great chart features, numerous add-ons, automated trading opportunities through live Forex trading rooms, and much more.
In addition, Blueberry Desktop advanced platforms are packed with free tools, a deep trading history and access to more capabilities available exclusively to Blueberry market traders, which is great for both beginners and professionals.
You may also use the Blueberry markets mobile app that gives you full control over your orders or your account. Applications available for both MetaTrader versions are suitable for any smartphone, with push notifications and great customization.
Customer Support Services
What we should mention with good points is the responsive 24/7 customer service provided by Blueberry markets. Their answers are quick and relevant, so you can count on the support and understanding of your concerns at any time. You can contact the customer service via live chat, email, phone lines or leave a contact form message.
- Quality support for customers with live chat 24/7.
- Rapid response
- None of them
However, the only thing missing from the Blueberry Markets review is good education, as the broker does not provide traders with educational materials, courses, webinars or videos. Therefore, if you’re a new trader, you’d better stick to third party education providers or sign up for a good course.
Bluberry Markets will only support good research tools that are built into the platforms and available for free use. Also, there are copy trade options so that you can get some business ideas as well.
- 30 days free demo account
- Ideas for trading
- Tools for research
- Educational courses and materials are not available
Blueberry Markets is a safe broker, established in accordance with Australian legislation and competitive pricing.
What we really appreciate in its offering is a good balance between trading conditions, the environment and the support provided by Blueberry Markets. Also, both beginners and experienced traders may find their potential for long-term trading success. Alternative forex brokers are FP Markets and GO Markets, both regulated by ASIC in Australia and sporting good trading conditions.