Home » Broker Reviews » Blueberry Markets Review

Broker Reviews

Blueberry Markets Review

Minimum Deposit: $100 VISIT BROKER

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

Blueberry Markets provides its clients with relatively favourable trading conditions with fast response times and uninterrupted customer support. Suitable for active traders, you can trade using their trading platforms (MT4 or MT5) throughout the day. We found their customer service to be highly attentive, and all of our questions were promptly answered.

Investing Brokers

March 7, 2023

Founded in 2016 in Australia by a former AxiTrader executive, Blueberry Markets is a forex and CFD broker that has gained considerable popularity in a very short time. They have a decent portfolio of more than 300 instruments for you to trade across various asset classes including CFDs on forex, indices, commodities, and shares. The broker provides its trading services through the popular MetaTrader platforms which gives you convenient market access on your desktop, web and mobile devices. Blueberry Markets charges its customers with very tight variable spreads and pretty standard commissions when compared to its competitors. You can trade with peace of mind knowing that the broker is regulated by ASIC and SCB.

Blueberry Markets has much to offer as it always gives value to its customers in terms of fees and free resources to get the most out of your trading. The broker has a seamless account opening process and easy to use trading platforms for manual and automated trading strategies. Tight spreads and fast order executions can also provide an edge to your trading. On the other hand, the broker does not offer its services to US citizens. IG are a top broker if you are located in the USA. Moreover, the broker requires a minimum of $100 deposit to get started with trading which is not the lowest you will find. However, you could always start on a free practice account before making any financial commitment.

Blueberry Marketplaces offers a reasonable range of over 300 trading instruments in a variety of markets, including forex, commodities, indices, metals, energies, and CFDs. The broker lags in terms of offering cryptocurrency CFDs trading, and it does not offer shares trading on its MT4 trading platform. It would be great if the broker offered cryptocurrencies keeping in mind the increasing popularity of digital currency. If you are looking to trade cryptos or just want a greater range of financial instruments to choose from, Freedom Finance have an excellent selection.

Blueberry Markets Instruments Summary

Commission and Spread Fees

Blueberry Markets offers flexible spreads to its clients. A client can get access to spreads starting from 1.0 pip on major forex instruments with a standard account, and he bears no other costs on trade other than the spread. On a raw ECN professional account, the customers can enjoy tight spreads starting from zero pips and pay a competitive commission fee of $7 per round per standard lot. However, the minimum deposit requirement for a professional account is a bit higher than the standard account. Your trading strategy will probably be the deciding factor on the account type that you opt for. Those who day trade or use automated systems may need tight spreads, whilst those who are position traders may prefer to trade without paying a commission. Keep in mind that depending on the asset being traded, the spreads and commission fees may differ. The broker does not offer any cash rebates at the time of writing this review. Pepperstone can give you a volume based discount if you are trading signficant lot sizes.

Deposit and Withdrawal Fees

Blueberry Markets offers a variety of payment methods to deposit and withdraw funds to its traders. I think it is great that there is no fee charged on deposits or withdrawals by the broker but this is something you can find quite easily nowadays. However, you should check the payment method charges you are using, as some banks might charge a fee for wire transfers. Also, some electronic wallets charge a fee against each transaction.

Inactivity Fees

Blueberry Markets does not charge an inactivity fee from its clients who have not conducted any trading activity in a while.

MetaTrader 4 and MetaTrader 5 are the platforms offered by Blueberry Markets, and they are available for all devices, including desktop and mobile devices. Both platforms offer many features, including excellent charting, several add-ons, trading automation, and much more. Blueberry’s easy to use trading platforms, including free tools, in-depth trading histories, and access to additional features, are available to the broker’s clients. The broker does not charge anything for using the platforms as they earn via the spreads and commissions that you are charged when you trade. The broker also offers free VPS service on some conditions.

MetaTrader 4 (MT4)

Blueberry Markets’ MT4 comes with a comprehensive collection of technical analysis tools (including 30 technical indicators and charting tools) as well as extensive customisation possibilities. Clients also get access to tens of thousands of additional trading tools from the MT4 marketplace and can run automated trading systems with expert advisors. However, you cannot trade in shares on MT4. Here are some salient features of MT4:

MetaTrader 5 (MT5)

The broker’s MT5 platform allows its customers to hedge their positions and gives comprehensive analytics, pending orders and access to more asset classes and trading tools. Blueberry Markets’ MT5 offers quicker processing times and more customisable properties while trading CFDs, Share CFDs, and Commodities. I think MT4 will do the job if you are primarily looking to trade forex, but for anything else and more complex charting capabilities, you may want to edge more towards MT5. Regardless, both platforms are very powerful and suitable for traders of all experience levels. You can also keep track of your account and trade on the go using the MetaTrader mobile trading apps. Here are some benefits of using the MT5 platform with Blueberry Markets:

VPS

Clients that trade a minimum of 10 lots every round turn in a calendar month are eligible for a free VPS from Blueberry Markets. A VPS is important because it allows you to operate the trading platform 24 hours a day, seven days a week, without having to turn on your own computer. Traders that need to use automated trading systems around the clock and desire a 1-millisecond latency to the Blueberry Markets trade servers may find this handy. The VPS offers technical help via live chat and email 24 hours a day, seven days a week. You can also get a free VPS from other brokers including IC Markets who also have excellent trading conditions for running automated systems.

Blueberry Markets Platforms Summary

Before engaging in speculative trading, traders should always conduct as much research as possible. Trading with confidence and success relies on market information and expertise. Thus, research and education options provided by brokers are important to consider when selecting the right broker to trade with. The broker does not provide any research tools for traders other than the Blueberry Blog, which publishes articles, and Blueberry News. Their Forex library has a variety of free and downloadable reading materials on topics such as Forex trading indicators, share CFD trading, and more. These tools are designed for novice, intermediate and experienced traders who want to have long-form knowledge. Official how-to manuals and Forex principles, as well as novice trader seminars, can help new traders. If you’re an experienced trader trying to improve your trading skills, these intermediate and advanced subjects are for you. The broker also provides video tutorials for its MT4 and MT5 trading platforms. For beginners who are looking for educational content, IronFX have a great selection.

Blueberry Markets Research and Education Summary

The broker offers seven base currencies to its customers and charges no conversion fee. Blueberry Markets offers almost all the commonly used payment methods to its clients, including bank transfer, debit and credit cards and popular electronic wallets. However, the availability of a specific payment method depends on the location of the client. The broker has not included cryptocurrencies in its payments methods, so this is a bit of a disadvantage for the traders who wish to use crypto wallets for their transactions. If you are one of them, Axi are an alternative broker who do support cryptos. Deposits and withdrawals can take anywhere from instantly to 3-7 business days to complete depending on the payment method used. I personally find e-wallets to be the quickest and most convenient way to fund my account.

Blueberry Markets Funding Summary

Blueberry Markets is authorised and regulated by the Australian Securities and Investment Commission (ASIC) for Australian clients and by the Security Commission of Bahamas (SCB) for non-Australian clients. To comply with the regulatory authority rules, the broker keeps its customer’s investments separate from its operational costs in a separate bank account at National Australian Bank.

Blueberry Markets Regulation Summary

Blueberry Markets Safety

Blueberry Markets has mostly positive ratings available online. But it does not disclose its financial statements in public. Neither the broker is traded on any stock exchange, nor does it hold a banking licence. The broker is a member of a compensation system or fund that pays out a certain sum to qualified clients in the unlikely event that the firm goes bankrupt. I have held an account with them for a while now and never had any problems. All withdrawals have been processed in a prompt manner without any hiccups along the way.

Blueberry Markets offers first-class customer care 24/5 to its customers. Customer support is available by phone, email, and online live chat and is really responsive. Despite being available only on weekdays, its customer service has gained popularity like none other. The customers can go through the help centre page to find a quick answer to their question regarding account opening, deposit or withdrawal, or trading platforms or start a live chat instantly. I think they could improve by providing 24/7 support like competitors such as FP Markets do.

Blueberry Markets is a client-focused, multi-regulated online brokerage based in Australia that offers the user-friendly yet powerful MetaTrader platforms for trading a decent selection of more than 300+ products with variable spreads and industry standard commissions. They also provide commission free accounts with a marked-up spread or ECN accounts with a narrower spread and a lower commission fee. Overall, the general trading conditions and fees are very competitive. With a highly efficient support team, the broker is client-focused and treats everyone as an individual, regardless of your investment size. The broker offers a somewhat limited selection of educational content along with the option of a free virtual private server. You can fund your account using a good variety of simple funding options and get help from an excellent customer support team 24/5. I think Blueberry Markets can be suitable for anyone looking for simple market access in a regulated environment with a broker that cares about each client’s individual needs.

Blueberry Markets Review

Minimum Deposit: $100

VISIT BROKER