Blueberry Markets Review
Blueberry Markets is an Australian ECN broker offering online trading to clients worldwide. They provide a range of 50+ tradeable instruments on multiple asset classes including Forex, Commodities, Indices, Metals, Energies & CFDs.
Blueberry Markets offer tight spreads starting from just 0 pips on the Raw ECN Account, competitive commission fees and leverage of up to 1:500. Clients can open an account with a minimum $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.”
Pros / Cons
- Segregated client funds
- Commission free trading
- Free VPS
- No US clients
- No cryptocurrencies
- Limited trading tools
- Limited educational material
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.
As a 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.
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.
Blueberry Markets Trading 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 (MT4) Platform
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.
Blueberry Markets Trading Tools
Blueberry Markets do not offer any standalone trading tools although eligible clients can apply for a free 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 currently do not offer any educational materials. As a relatively new broker, this may change over the coming years.
Blueberry Markets Trading Instruments
Blueberry Markets offer over 50+ trading instruments in multiple markets including Forex, 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 Trading 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. Demo accounts are available to test the different platforms and conditions before opening a real account.
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 MT4 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 MT4 platform.
Blueberry Markets Customer Service
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 Conclusion
Blueberry Markets is an Australian owned and regulated online brokerage offering the popular MT4 trading platform for trading 50+ instruments. They offer a choice between commission free accounts with a marked up spread or an ECN account with a tighter spread and competitive commission charge. Whilst trading conditions are good, there are a lack of trading tools and educational materials provided. However, they do offer a free VPS to eligible clients and have convenient funding methods. In addition to this, they are client focused with a very efficient support team.
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).