WikiFX Broker Assessment Series | Blueberry Markets: Is It Trustworthy?

In this article, we will conduct a comprehensive examination of Blueberry Markets, delving into its key features, fees, safety measures, deposit and withdrawal options, trading platform, and customer service. WikiFX endeavours to provide you with the essential information required to make an informed decision about utilizing this platform.

Background:

Founded in 2016, Blueberry Markets Pty Ltd (Blueberry Markets) operates as an online brokerage specializing in the trading of exchanged CFDs, distinguishing itself through a commitment to offering competitive spreads.

Blueberry Markets provides a diverse range of over 300 tradable assets, covering currency pairs, share CFDs, cryptocurrency CFDs, commodities, metals, and global indices.

Additionally, Blueberry Markets offers a social trading service named DupliTrade, facilitating money managers and traders to enhance efficiency, profitability, and generate passive income via copy-trading.

Meanwhile, Blueberry Markets features an introducing broker (IB) program, enabling individuals and businesses to earn multi-tiered commissions by referring new clients to the company.

It is important to note that, at present, Blueberry Markets does not extend its services to Australia, the United States, New Zealand, and Japan.

Types of Accounts:

Blueberry Markets offers two account options: the Standard Account and the Direct Account. Please refer to the attached image below for more detailed information on each corresponding account.

Deposits and Withdrawals:

Blueberry Markets offers a range of payment options, including bank transfers, FasaPay, Skrill, cryptocurrencies, and additional methods. While Blueberry Markets asserts a policy of not imposing any commission or fees for deposits and withdrawals, it is important to note that any fees levied by third-party providers shall be the responsibility of the trading client.

The company asserts a commitment to processing all withdrawal requests within 24 hours on business days (Monday to Friday, during business hours from 9:00 am to 5:00 pm GMT+10).

The timeframe for funds to reflect in the account is contingent upon the chosen withdrawal method. The specifications for each deposit and withdrawal method can be referred to from the images below:

Trading Platforms:

Blueberry Markets provides two trading platforms:

• The MetaTrader 4 (MT4) trading platform, available on PC, mobile, and web, is widely used in the industry. MetaTrader 4 is an advanced trading platform offering a comprehensive suite of features and tools for precise trading analysis. With one-click trading, quick order execution, VPS hosting, and up to four pending order types along with trailing stops, it provides a highly customizable interface with thousands of online tools to plug in. The platform supports fully customizable and in-depth charts, in-depth trading history, and allows users to build or import Expert Advisors (EAs), enabling the automation of trading strategies.

  

• The MetaTrader 5 (MT5) trading platform, available on PC, mobile, and web, renowned for its technological sophistication, provides access to a depth of market and various advanced solutions. It offers features such as buy and sell flexibility with six types of pending orders, 38 technical indicators, 44 analytical objects, and 21 timeframes, providing a customizable platform with numerous online tools for integration. Quick order execution, an economic calendar for tracking global macro-economic news, one-click trading, mobile trading capabilities, and an intuitive market search and grouping functionality contribute to the platform's comprehensive and user-friendly trading experience.

  

Research and Education:

Blueberry Markets offers a variety of educational resources to support traders at different levels, including beginners, intermediate, and advanced. These resources are available in the form of both texts and videos.

Customer Service:

Blueberry Markets provides 24/7 customer service support in multiple languages, including English, French, Thai, Vietnamese, Bahasa Indonesia, and Chinese. Clients can reach out to Blueberry Markets through email at global@blueberrymarkets.com or by submitting an inquiry via the broker's question form. Additionally, trading clients have the option to contact Blueberry Markets by phone at +61 2 7908 3946 and +61 2 8039 7480.

Conclusion:

To summarize, here's WikiFX's final verdict:

WikiFX, a global forex broker regulatory platform, has assigned Blueberry Markets a WikiScore of 6.21 out of 10.

Upon examining Blueberry Markets' licenses, WikiFX found that the broker is regulated by the Australian Securities and Investment Commission (ASIC). WikiFX has also validated the legitimacy of the said license.

Initially, Blueberry Markets is considered a relatively reliable broker within the industry; however, WikiFX reduced its WikiScore due to several complaints received from users worldwide, casting doubt on its trustworthiness:

Therefore, WikiFX would urge our users to opt for a broker that has a higher WikiScore for better protection.