Blueberry Markets Review
Blueberry Markets is a regulated broker based in Australia offering an impressive selection of over 350+ instruments to trade on the user-friendly MetaTrader platforms. They provide ECN and commission free accounts with low spreads, rapid trade execution speeds and flexible leverage. The broker offers a free VPS, trading tools, educational materials, various account funding options and excellent customer support.
Pros / Cons
- Regulated broker
- Easy to use trading platform
- Commission free trading
- Tight spreads & fast execution speeds
- Flexible funding options
- 350+ instruments (including 50 top US shares)
- Free VPS
- Excellent customer service
- No US clients
- Minimum $100 deposit
In this detailed Blueberry Markets review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Blueberry Markets Overview
Blueberry Markets is an Australian ECN broker offering online trading to clients worldwide. They provide a vast range of 350+ tradeable instruments on multiple asset classes including Forex, Cryptos, Commodities, Indices, Metals, Energies & CFDs.
Blueberry Markets offer tight spreads starting from just 0 pips on the Raw ECN Account, competitive low commission fees and leverage of up to 1:500 for the VFSC entity and 1:30 for the ASIC entity. Clients can open an account with a minimum of just $100 deposit and choose from 5 convenient funding methods.
Liquidity is aggregated from 12 tier 1 banks and ECNs to provide real time pricing. They implement a complex and robust infrastructure that incorporates innovative trading technologies to ensure that trades are executed quickly and spreads remain as tight as possible.
Blueberry Markets believe in offering long term value and work alongside clients to help them prosper and become successful. Professional account managers are on hand to assist day and night.
The founder of Blueberry Markets states “I founded Blueberry Markets because I love seeing clients succeed and wanted to help make that happen. We’ve built a platform that encourages that success. The goal of Blueberry Markets is to have the most profitable traders in the industry.”
Blueberry Markets Regulation
The Blueberry Markets Group is a trading name of Eightcap Pty Ltd. Eightcap is regulated by the Australian Securities & Investments Commission (ASIC) with AFSL number 391441 and Vanuatu Financial Services Commission (VFSC), with registration no. 40377.
As an ASIC regulated entity, Blueberry Markets must abide to the highest standard of Australian corporate governance, financial reporting and disclosure.
Client funds are held away from company funds in a segregated trust account at National Australia Bank (NAB). This helps to ensure that client funds cannot be used for any other purposes.
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Blueberry Markets Countries
Blueberry Markets accept clients from around the globe apart from a few countries including the USA and Japan due to regulatory constraints or Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF) deficiencies. Some Blueberry Markets broker features and products mentioned within this Blueberry Markets review may not be available to traders from specific countries due to legal restrictions.
Blueberry Markets Platforms
Blueberry Markets provide one of the most popular trading platforms, MetaTrader 4 (MT4). MT4 is developed by Russian software company MetaQuotes. It is free to use and available for desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet).
MetaTrader 4 (MT4) is used worldwide by millions of traders of all skill levels. It has a user-friendly interface and wide variety of trading tools including 30+ built in technical analysis indicators, 23 analytical objects and support for automated trading with expert advisors (EAs).
The MT4 MetaEditor allows you to code your own custom indicators and EAs in the MQL programming language. There is a strategy tester that can back test EAs over historical data downloaded directly from the broker.
Other MT4 features include real time price quotes in the market watch window, 9 timeframes, multiple chart and order types, one-click trading, notification alerts, templates, marketplace with thousands of additional tools and much more.
The web version of the MT4 platform can run directly in most modern web browsers without needing to install any additional software. The mobile app is useful for those who wish to access their trading account and trade whilst on the go from anywhere in the world with an internet connection. It is available for download on both Android and iOS devices from the relevant app stores.
MetaTrader 5 (MT5) is another popular trading platform that you can use with Blueberry Markets. It is the successor to the MT4 platform, with faster processing times, the ability to hedge your positions, advanced pending orders and more professional tools and indicators to help you take your trading to the next level, MT5 provides exceptional features to help you stay ahead of the markets. The MT5 trading platform is available for desktop, web, and as a mobile app.
Blueberry Markets Trading Tools
Blueberry Markets do not offer any standalone trading tools although the MetaTrader platforms should have more than enough trading tools to satisfy the needs of even the most demanding traders. Eligible clients can apply for a free virtual private server (VPS).
Virtual Private Server (VPS)
Blueberry Markets offer a free VPS to clients who trade a minimum volume of 10 lots per round turn in a calendar month. A VPS is useful as it enables you to run the trading platform 24/7 without needing your own computer switched on. This can be useful for traders who need to run automated trading systems around the clock and those who want latency of 1 millisecond to the Blueberry Markets trade servers. The VPS has an 100% uptime guarantee and comes with 24/5 technical support via live chat and email.
Blueberry Markets Education
At this time Blueberry Markets have a selection of YouTube videos to help educate traders and ensure that they have the knowledge to make informed trading decisions.
Blueberry Markets Instruments
Blueberry Markets offer over 350+ trading instruments in multiple markets including Forex, Cryptos, Commodities, Indices, Metals, Energies & CFDs.
Forex currency pairs include majors such as the EURUSD & GBPUSD along with minor and exotic crosses. Some of the most popular indices are available including the AUS200, UK100, GER30, JPN225, SPX500, FRA40, EUSTX50 and US30. They also offer online trading on spot Gold (XAU/USD) and Silver (XAG/USD) whilst there are two grades of oil (WIT & Brent) available for trading.
Blueberry Markets Accounts & Fees
Blueberry Markets offer two main account types; standard and professional. They aggregate price feeds from a variety of different liquidity providers which allows for tight spreads and good execution. The spread the client trades on will depend on the type of trading account that they choose to open.
On the standard account spreads start from 1 pip and there is no commission charged as broker costs are included within the spread. The minimum deposit required for this account type is $100. It has a minimum position size requirement of 0.01 lots and has access to all trading instruments on the MetaTrader platform.
The Raw ECN professional account has spreads starting from 0 pips with a competitive $7 commission charged per standard lot, per round turn. The minimum deposit required for this account type is $1,000. It has a minimum position size requirement of 0.01 lots and has access to all trading instruments on the MetaTrader platform.
Demo accounts are available to test the different platforms and conditions before opening a real account.
As broker fees can vary and change, there may be additional fees that are not listed in this Blueberry Markets review. It is imperative to ensure that you check and understand all of the latest information before you open a Blueberry Markets broker account for online trading.
Blueberry Markets Support
Blueberry Markets provide clients with first class customer service that is available 24 hours a day, 5 days a week. Support is very responsive and available via phone, email and online live chat.
Blueberry Markets Deposit & Withdrawal
Blueberry Markets have a variety of convenient methods for depositing and withdrawing funds to and from your trading account. This includes bank wire, credit card and online payment systems such as Skrill. Please note that some methods may only be available to specific countries and not all are available for both deposit and withdrawal.
There are no fees for withdrawals, subject to terms and conditions. Withdrawal requests can easily be made via the withdrawal form from within the secure client area and are processed within one business day or less. Bank transfers may take a few business days to clear whilst some methods can be instant. In the case of unforeseen circumstances, withdrawals may take longer.
Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries. All funds deposited into your trading account must be under the same name as your Blueberry Markets trading account. Blueberry Markets strictly does not accept third-party payments.
Accounts can be opened in AUD, USD, CAD, GBP, NZD, EUR, SGD. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
Blueberry Markets Account Opening
There is a short online form to complete in order to open a Blueberry Markets account. Applicants will need to provide a proof of ID such as a copy of a valid passport and a document for proof of address such as a utility bill. This is a normal part of the Know Your Client (KYC) process. The proof of address document must be no older than 3 months and clearly show the name and address of the applicant. Once your documents have been verified by a member of the accounts team, you will be able to fund your account using any of the convenient payment options and can then commence trading.
Blueberry Markets FAQ
What is the Blueberry Markets minimum deposit?
The minimum deposit requirement for Blueberry Markets depends on the account type you want to open. The standard and Blueberry Direct accounts require a minimum deposit of $100, while the Professional account requires at least $2,000 to operate.
With a modest minimum deposit amount of $100, you can quickly try out their trading platforms, products, and services. This is a very reasonable amount to get started when compared with other brokers. As with any broker, you should only ever trade with what you can afford because anything can happen in the market.
How do I deposit money into Blueberry Markets?
Every Blueberry Markets customer is given access to a secure client area where they can easily log in and process their deposits using any of the following payment methods: bank wire transfers, credit card, and online payment gateways like Skrill, Poli Payment, China UnionPay (CUP), and Fasapay.
Some payment methods may not be available in some specific countries, and the time taken to process the transactions may vary depending on the payment in use. For example, Bank transfers may take a few business days to clear, while some methods can be instant.
Blueberry Markets accepts deposits in the following currencies: AUD, USD, CAD, GBP, NZD, EUR, and SGD.
What are Blueberry Markets’ deposit fees?
There may be some fees charged for deposits depending on the deposit method you are using. Below are the percentage deposit fees for the available deposit methods:
- Credit Card – 0% (AUD), 0% (other currencies)
- Debit Card – 0% (AUD), 0% (other currencies)
- Bank/Wire Transfer – check with Bank
- Skrill – 3% – 4%
- Poli Payment – 0%
- China UnionPay – 0%
- Fasapay – 0.5%
How do I withdraw money from Blueberry Markets?
To make a withdrawal, you are expected to fill in the online withdrawal form found in the Secure Client Area. While logged into the Secure Client Area, you should select your withdrawal method from the list of payment methods available — bank/wire transfer, credit/debit cards, and electronic payment processors.
Withdrawals are processed within 24 hours (1 business day or less). However, due to unforeseen circumstances, withdrawals may take longer.
What are Blueberry Markets’ withdrawal fees?
Blueberry Markets does not charge any fees for withdrawals, but the payment processor or financial institution might charge some fees.
What is Blueberry Markets’ commission fee?
Blueberry Markets have very low commission fees and even an option for a commission-free account with a small spread mark-up. There is no commission fee on the Standard Account, while a competitive $7 commission per standard lot per round turn is charged in the Blueberry Direct Account.
Are there any Blueberry Markets inactivity fees?
Blueberry Markets does not charge any inactivity fees. This means you can be rest assured that you won’t get any annoying fee charges for not accessing your Blueberry Markets account for a long time. This is better when compared with other brokers that would ask you to pay some money for your prolonged inactivity.
What are Blueberry Markets account types?
Blueberry Markets offers a choice of two live trading account types: Standard Account and Blueberry Markets Direct Account.
The Blueberry Standard Account has a minimum deposit of $100, and it charges zero commission, which means that the commission is added to the spreads. The account offers access to trade over 350 financial instruments and has a minimum trade size of 0.01 lots.
Similar to the Standard Account, the Blueberry Direct Account has a minimum deposit of $100. It has low spreads from 0.0 pips and charges a commission fee of $7 per standard lot per round turn.
There is also the Professional Account, available to qualified clients. It requires a minimum deposit of $2,000 while charging a commission fee of $7 per round turn.
Is there a Blueberry Markets demo account?
Yes, there is the option of opening a Blueberry Markets demo account. This can be a great way to acquaint yourself with the trading platforms and practice your trading strategies risk-free using virtual funds. A demo account also allows you to feel the broker’s products and services to see if they are suitable for your individual needs.
The Blueberry Markets demo account comes preloaded with $50,000 in virtual money for practice purposes. It has an expiry period of 30 days. The demo accounts have all of the same features and functions as a real account, but it does not simulate the real trading market conditions.
Also, demo accounts do not take into consideration the psychological impact of trading with real money. So, your trading performance with a real account may not be comparable to that of trading with virtual funds.
What are Blueberry Markets spreads?
The spread is the difference between the bid-ask prices, which you must pay on each trade you take with a broker. The difference between the highest price that a buyer is willing to pay for an asset and the lowest price that a seller is willing to accept is essentially what the spread is.
Blueberry Markets have variable spreads, and they vary with the account type: Standard Account has low spreads starting from 1.0 pips; Blueberry Markets Direct Account has spread from 0.0 pips; and the Professional Account has spreads starting from 0.0 pips. These are very low spreads for any broker.
What is Blueberry Markets’ leverage?
Blueberry Markets offers leverage of up to 1:500. So, if you have $1000 in your trading account and your broker offered you traded with 1:500 leverage, that means that you can trade with $500000.
Leverage allows you to trade a more significant position size greater than you can without it. Although this can improve potential profit, it also significantly increases risk. Therefore, it is imperative to ensure that you have a clear understanding of what leverage is and how it works before trading leveraged positions.
What are Blueberry Markets’ margin & stop-out levels?
The broker’s margin requirement is 0.2% of the value of the lot size, and the stop-out level is 50% of the margin.
Margin is the required amount in the trading account’s base currency needed to open or maintain a position. Margin is calculated as a percentage of the notional value of the CFD or a fixed monetary amount.
The leverage on your trading account is 1:30, which is expressed as a margin percentage of 3.33%. You decide to take a Position by buying 0.1 of a contract of AUD/USD. This is a notional value of $10,000. The margin required for this contract is equal to approx. $333.33 AUD (i.e., 3.33% of $10,000 AUD).
If your trading account equity is at 100% of your margin, your trading account is regarded as being on “Margin Call,”; and when your trading account equity is at 80% of your margin, your open position will change color. It is your responsibility to take appropriate action to manage your account, which may include depositing further funds or reducing exposure.
Suppose your trading account equity is at 50% of your margin. In that case, Blueberry Markets will close out some or all your open positions immediately, in order of the largest losing CFD position(s).
A margin call can also occur when you hold opposing buy and sell CFD positions. Market conditions, such as wide spreads, swap charges, or high volatility, can impact your open CFD Positions’ profit and loss valuation.
Do Blueberry Markets allow hedging, scalping & expert advisors?
Yes, Blueberry Markets allows most trading strategies, including hedging, scalping, and expert advisors.
Is there a Blueberry Markets Islamic account?
Yes, Blueberry Markets do offer an Islamic account. It is suitable for traders who follow the Muslim faith. Islamic accounts do not incur any swap interest fees and therefore are fully compliant with Sharia law. The Islamic account is available upon request.
What are Blueberry Markets’ trading instruments?
Blueberry Markets offers a good selection of over 350 financial instruments across different asset classes: Forex, Cryptocurrencies, Commodities, Indices, Metals, Energies & CFDs.
How do I open a Blueberry Markets live account?
Opening a Blueberry Markets account is simple. You need to click on the ‘Start Trading’ tab at the top-right corner of the broker’s website and complete your application form. Once the accounts team has approved your online application form, you will be emailed your trading account login details and password. You can then download the trading platforms and fund your account.
How do I verify my Blueberry Markets account?
To verify your Blueberry Markets account, you are required to provide a copy of a valid passport and a document for proof of address. The evidence of address document must be no greater than three months old and clearly show the name and address of the applicant.
There are two options available to satisfy the broker’s Know Your Client (KYC) requirements.
- 2x Photo ID such as Passport and Drivers Licence
- 1x Photo ID (Passport)
- 1x Proof of Address (Bank Statement or Phone bill no older than three months)
What is Blueberry Markets’ trading platform?
Blueberry Markets provides traders with the MT4 and MT5 trading platforms. These are popular trading platforms that were designed to offer seamless trading of multiple financial markets. The platforms are available as desktop applications for Windows and Mac computers, WebTrader, and mobile apps for mobile devices running on Android and iOS.
Where can I download the Blueberry Markets platform?
You can freely access the web-based platforms from the broker’s website. The desktop platforms can be downloaded as desktop applications from the broker’s website, while the mobile apps can be downloaded from the relevant app stores via the broker’s website or by searching them on the app stores.
Where is Blueberry Markets located?
Blueberry Markets is a private proprietary limited company that is located in Australia.
Is Blueberry Markets regulated?
Yes, The Blueberry Markets Group is a trading name of Eightcap Pty Ltd. Eightcap is regulated by the Australian Securities & Investments Commission (ASIC) with AFSL number 391441 and Vanuatu Financial Services Commission (VFSC), with registration no. 40377.
What countries do Blueberry Markets accept?
Blueberry Markets accept clients from different parts of the globe except for the United States of America and Japan due to regulatory constraints or Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF) deficiencies.
Is Blueberry Markets a scam?
No, Blueberry Markets is not a scam. They are regulated by the Australian Securities and Investment Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC). They have also been offering reputable online brokerage services since 2016.
How can I contact Blueberry Markets support?
If you have a question or require special assistance, Blueberry Markets dedicated customer service team is available 24/5 to assist you. You can reach them via telephone, email, and live chat.
Blueberry Markets Summary
Blueberry Markets is an Australian owned, client focused and multi-regulated online brokerage offering the popular MetaTrader platforms for trading 350+ instruments with flexible leverage. They offer a choice between commission free accounts with a marked up spread or an ECN account with a tighter spread and low commission charge.
Users of Blueberry Markets can trade 44 global currencies pairs, commodities trading in gold, silver and oil, cryptocurrency and CFD trading in nine global indices and ASX200 shares.
The broker is client focused with a very efficient support team. They have top trading conditions, flexible leverage, convenient funding options and even offer a free VPS.
Margin trading involves a high level of risk, and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Blueberry Markets, and seek independent advice if necessary. Forex and CFDs are highly leveraged products which mean both gains and losses are magnified. You should only trade in these products if you fully understand the risks involved and can afford losses without adversely affecting your lifestyle (including the risk of losing substantially more than your initial investment).