Blueberry Markets Vs IC Markets

Category: Broker Guides | Author: Trading Brokers | Date: June 28, 2023

When it comes to choosing a forex broker, traders have a wide range of options available to them. Two popular brokers in the industry are Blueberry Markets and IC Markets. Both brokers offer various features and services to meet the needs of different traders. In this article, we will compare the key aspects of Blueberry Markets and IC Markets, highlighting their pros and cons, to help you make an informed decision about which broker may be more suitable for your trading requirements. So, let’s delve into the details of Blueberry Markets and IC Markets to guide you in choosing the right broker.

What are Blueberry Markets?

Blueberry Markets

Blueberry Markets

Blueberry Markets is a reputable forex broker that offers a comprehensive range of trading services to its clients. The broker provides access to various financial instruments, including forex currency pairs, commodities, indices, and cryptocurrencies. Blueberry Markets prides itself on its low-latency trade execution, competitive spreads, and reliable trade execution through its advanced trading infrastructure. Additionally, the broker offers the popular MetaTrader 4 (MT4) platform, known for its user-friendly interface and extensive trading tools.

Pros of Blueberry Markets

  • Competitive spreads and low-latency trade execution.
  • Wide range of tradable instruments, including cryptocurrencies.
  • User-friendly interface of the MetaTrader 4 platform.
  • A dedicated customer support team is available to assist clients.
  • Strict regulation and adherence to client fund segregation for enhanced security.

Cons of Blueberry Markets

  • A limited selection of trading platforms, primarily focusing on MetaTrader 4.
  • Availability is restricted to certain jurisdictions, which may limit access for some traders.
  • Relatively new in the industry compared to more established brokers.
Blueberry Markets Logo

Blueberry Markets is an online broker based in Australia providing online trading via the easy to use MetaTrader platforms with tight spreads, low fees and fast execution speeds. They offer commission free accounts, along with a free VPS.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

What are IC Markets?

IC Markets

IC Markets

IC Markets is a well-known and globally recognized forex broker that offers a comprehensive trading experience to its clients. The broker provides access to a vast range of financial instruments, including forex pairs, commodities, indices, and cryptocurrencies. IC Markets is known for its competitive pricing, fast trade execution, and reliable order execution through its advanced trading infrastructure. The broker offers various trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, providing flexibility and choice to traders.

Pros of IC Markets

  • Competitive pricing and tight spreads.
  • Wide range of trading platforms, including MT4, MT5, and cTrader.
  • Access to a diverse selection of financial instruments.
  • Excellent trade execution speed and reliable order execution.
  • Strong regulatory framework and commitment to client fund security.

Cons of IC Markets

  • The complex interface of the cTrader platform may require some time for beginners to adapt.
  • Limited educational resources and research tools compared to some competitors.
  • Some traders may find the range of available platforms overwhelming.
IC Markets Logo

IC Markets is the world’s largest true ECN trading broker offering over 2,000 trading instruments across multiple markets on the most popular trading platforms. They are a multi-regulated broker with deep liquidity pools that can provide you with rapid trade execution speeds, low spreads, low commission fees, various funding options and 24/7 support.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Comparison between Blueberry Markets and IC Markets

When comparing Blueberry Markets and IC Markets, it’s important to consider several factors to determine which broker aligns better with your trading preferences. Here’s a comparison of some key factors:

Regulation:

Both brokers are regulated by the ASIC in Australia, which is a reputable and trustworthy regulator that ensures high standards of conduct and protection for traders. However, IC Markets has more global licenses than Blueberry Markets. IC Markets holds 1 global tier-1 license from the CySEC in Cyprus, and 2 global tier-3 licenses from the FSA in Seychelles. Blueberry Markets holds 1 global tier-3 license from the SCB in the Bahamas. Tier-1 licenses are considered the most trustworthy and reputable in the industry, while tier-3 licenses are considered the least trustworthy and reputable. Therefore, IC Markets has a higher trust score than Blueberry Markets.

Trading platforms:

Both brokers offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are the most popular and widely used platforms in the forex industry. However, IC Markets also offers cTrader, which is a fast, reliable, and customizable platform that supports automated trading, social trading, and advanced charting. Blueberry Markets does not offer cTrader, but it offers its proprietary platform, which is user-friendly and packed with advanced tools and features.

Pricing and fees:

Both brokers charge no commissions on most trades, but instead, apply a spread or a margin to the market price. The spreads vary depending on the instrument, market conditions, and account type. IC Markets offers lower spreads than Blueberry Markets on average. For example, IC Markets offers an average spread of 0.1 pips on EUR/USD, while Blueberry Markets offers an average spread of 0.2 pips on EUR/USD. Both brokers also charge overnight funding fees for holding positions open past a certain time, as well as inactivity fees for dormant accounts.

Broker type:

Both brokers are market makers, which means they act as counterparties to their clients’ trades and may have a conflict of interest with them. However, both brokers also offer STP (straight-through processing) or ECN (electronic communication network) accounts for some instruments or markets, which means they pass their clients’ orders to external liquidity providers and do not take the opposite side of their trades. STP or ECN accounts usually have tighter spreads but higher commissions than market-maker accounts.

Leverage:

Both brokers offer different leverage levels depending on the instrument, market, and account type. However, Blueberry Markets offers higher leverage than IC Markets on average. For example, Blueberry Markets offers up to 500:1 leverage for professional clients in Australia or Europe, while IC Markets offers up to 200:1 leverage for professional clients in Australia or Europe. Leverage is a double-edged sword that can magnify both profits and losses.

Asset selection:

Both brokers offer a wide range of instruments on various markets, such as forex, shares, indices, commodities, cryptocurrencies, and more. However, IC Markets offers more instruments than Blueberry Markets on average. For example, IC Markets offers over 12,000 financial instruments on offer, while Blueberry Markets offers over 350 financial instruments on offer.

Social trading:

Both brokers support social trading or copy trading services, which allow you to follow or copy other traders’ strategies and performance. However, IC Markets supports multiple third-party platforms for social trading, such as ZuluTrade, Myfxbook, and DupliTrade. Blueberry Markets only supports social trading within its platform.

Minimum deposit:

Both brokers have different minimum deposit requirements depending on the account type. However, Blueberry Markets has a lower minimum deposit requirement than IC Markets on average. For example, Blueberry Markets requires a minimum deposit of $100 for its standard account, while IC Markets requires a minimum deposit of $200 for its standard account.

Withdrawal and deposit methods:

Both brokers offer various withdrawal and deposit methods for their client’s convenience and security. However, IC Markets offers more methods than Blueberry Markets on average. For example, IC Markets offers 15+ payment methods including credit cards, debit cards, PayPal, wire transfers, etc., while Blueberry Markets offers 7+ payment methods including credit cards, debit cards, wire transfers, etc.

Which Should You Choose: Blueberry Markets or IC Markets?

The choice between Blueberry Markets and IC Markets ultimately depends on your specific trading requirements, preferences, and priorities. If you value a user-friendly interface, competitive spreads, and a focus on the MetaTrader 4 platform, Blueberry Markets may be the suitable option for you. Blueberry Markets offers a streamlined trading experience through the popular MT4 platform, catering to both beginner and experienced traders. The broker’s commitment to low-latency trade execution and reliable customer support can also be appealing factors. On the other hand, if you prefer a wider range of platforms, including MetaTrader 4, MetaTrader 5, and cTrader, and access to a broader selection of instruments, IC Markets may be the preferred choice. IC Markets’ multiple platform options cater to different trading preferences and provide advanced features for more experienced traders. The broker’s diverse instrument selection, particularly in the cryptocurrency market, can be advantageous for those specifically interested in trading digital assets. Additionally, IC Markets’ reputation for responsive customer support can provide peace of mind for traders seeking prompt assistance.

Conclusion

Blueberry Markets and IC Markets are reputable forex brokers that offer a range of features and services to traders. While Blueberry Markets focuses on providing a user-friendly experience with competitive spreads, IC Markets offers a broader selection of platforms, including MetaTrader 4, MetaTrader 5, and cTrader, and a more diverse range of financial instruments. The choice between Blueberry Markets and IC Markets should be based on your individual trading needs, preferences, and priorities. It is important to thoroughly research and consider the features and services offered by both brokers and even consider opening demo accounts to test their platforms and services. Consulting with experienced traders or seeking advice from a financial advisor can also provide valuable insights to help you make an informed decision. Remember, selecting the right broker is crucial for your trading success as it directly impacts your overall trading experience and ability to execute your trading strategies effectively.


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