Blueberry Markets Review 2022

The broker, according to this Blueberry Markets review, offers over 300 financial instruments, including 38 forex pairings. Spreads start at 0.0 pips on the MetaTrader 4 and MetaTrader 5 trading platforms. Blueberry's customer service is highly rated on Trustpilot, with a score of 4.8/5.

Blueberry Markets places a strong premium on customer service, as seen by their high ratings on several social media platforms, including TrustPilot, Google Review, and Forex Peace Army. However, are they truly beneficial？ We examine their trading, accounts, spreads, and trading platforms, as well as their strengths and drawbacks, as part of this evaluation.

• ????️ Regulation: Australia, Vanuatu

• ???? Trading Fees: Spreads

• ???? Trading Platforms: MT4, MT5

• ???? Minimum Deposit: $100 (Standard)

• ???? Deposit/Withdrawal Fee: $0

• ????️ Instruments Offered: CFD – Forex, Indices, Metals, Oils, Shares, Crypto,

• ???? Credit Card Deposit: Yes

About Blueberry Markets

Forex Brokers ReviewBlueberry Markets is a global Forex broker based in Sydney, Australia. The company offers tradable Currencies, Indices, Commodities (Metals & Oils), Cryptocurrency CFDs, and Share CFDs. It is available 24 hours a day, 7 days a week, and provides one-on-one customer service and dedicated account managers to all demo and live account holders. Blueberry Markets was a finalist for Finder's Best Online Customer Service award in 2020 and 2021, as well as for the Australasian Startup Awards' Best Bootstrapped Startup in 2018.

Blueberry Markets Group is a business name of Eightcap Pty Ltd, an Australian financial services licensee authorized to provide financial services to Australian residents. The AFSL number for Blueberry Markets is 391441. Eightcap Pty Ltd operates the blueberrymarkets.com website.

Types of Trading Accounts

Blueberry Markets caters to traders of all skill levels, offering a variety of account kinds to suit each trader's needs. A 'Blueberry Standard Account' trades at a spread of 1.0 pip with no fee, whereas a 'Blueberry Direct Account' trades at a spread of 0.0 pip with a commission of $7. Both account options allow for trading on the MT4 or MT5 platforms and include unrestricted access to a demo account with a minimum trade size of 0.01.

• Standard Account - FX trading with no commissions

• BlueBerry Direct Account - raw spreads + a fee rate of USD 3.5 per 100,000 traded units

Standard Account for Blueberry Markets

This trading account has no additional charges because they are already included in the spread. Using a normal account eliminates the need for commissions.

A minimum deposit of $100 is required to start a Standard account, and the minimum trading size is 0.01 lots.

The broker offers minimal spreads on key currency pairings starting at 1.0 pip, and clients can trade more than 300 instruments across five asset classes via two popular trading platforms – MetaTrader 4 and MetaTrader 5.

Professional Account with Blueberry Markets

Clients who open a Direct account can view the raw market spread, ensuring that trade positions are priced in real-time. The minimum deposit is similarly $100, and the consumer is charged a $7 commission fee. Blueberry Markets' Direct account features tight spreads starting at 0.0 pips.

Both Standard and Direct accounts can trade using their MT4/MT5 platforms and a selection of over 300 financial instruments across five asset classes.

Virtual Private Server Hosting

Clients having a live account, whether Standard or Direct, are end to complimentary access to the Blueberry Markets Forex VPS. Their VPS ensures the greatest possible experience by expediting and accurately completing trades via high-performance external servers. Additionally, it enables low-latency trading by putting the client's system in the same data center as Blueberry Markets' primary trading servers, ensuring that trades are performed in less than one minute.

Application is required to use their complimentary Forex VPS.

Costs of Trading (Spreads and Commissions)

Clients' trading charges (spread and commissions) will vary depending on the live account type they select. Based only on spreads, Blueberry Markets' spreads are ordinary, but commissions are in line with industry standards of $7 per round-turn.

On the Standard account, the brokerage charges a spread, whereas, on the Professional account, the brokerage obtains bid-ask prices directly from 12 tier-one liquidity providers. Blueberry Markets is slightly behind other top brokers in terms of overall trading costs (spread + commission).

Standard Account trading conditions

As is the case with many other Forex brokers worldwide, Blueberry Markets Standard accounts will have no commissions and traders will just pay the bid-ask spread. Blueberry Markets does not disclose their average spreads, however, our EUR/USD spreads begin at 1.0.

We track and update the average spreads offered by various brokers on their websites each month. Other brokers' standard account spreads are listed in the table below.

Blueberry Direct Account Trading Conditions

Blueberry Markets' Blueberry Direct Account provides raw pricing:

Spreads on currency pairs, spot metals, and energies begin at 0.0 pips, with a trading cost of $3.5 on each side, per lot;

• Stock Index CFDs — spreads start at 0.5 pips and there is a $3.5 per-side trading cost;

• CFDs on shares — spreads start at 1.0 and there is a $3.5 per-side trading charge.

As with the Standard Account, Blueberry Markets does not disclose typical spreads; however, we do keep track of the average spreads for accounts with no commission pricing.

Requirements for Leverage and Margin

Leverage limits for retail forex traders vary depending on whether you join up with the broker's ASIC-regulated Australian office or its offshore affiliate in Vanuatu (VFSC).

In Australia, ASIC imposes a leverage cap of 30:1 on forex trading, however, the VFSC permits leverage of up to 500:1.

Please keep in mind that certain exotic currency pairs have a leverage limit of 1:100.

When it comes to Contracts for Difference (CFDs), retail consumers are subject to leverage restrictions on CFD products. The maximum leverage ratios that ASIC-regulated brokers may offer retail clients in Australia are as follows:

• 30:1 for major currency pairs

• 20:1 for smaller currency pairs,

• 10:1 for gold for other goods, the ratio is ten to one.

• 5:1 in favor of stocks

• For cryptocurrency, the ratio is 2:1

To take advantage of the maximum leverage ratios, clients must deposit a minimum of $500.

Offered Trading Platforms

Blueberry Markets clients can apply their plans on one of two robust trading platforms that are offered across numerous devices (browser-based, desktop, mobile, and tablet):

• MetaTrader 4 (MT4)- provides a high degree of customizability and versatility.

• MetaTrader 5 (MT5)- elevates the trading experience for clients

MetaTrader 4 (MT4) trading platform

Blueberry Markets' MT4 trading platform has a comprehensive range of technical analysis tools (30 technical indicators and charting tools) and extensive customization options. Additionally, clients have access to thousands of online tools for integration and Expert Advisors for algorithmic trading.

Additional significant aspects of the MT4 trading platform include the following:

• Simple to use Option for one-click trading with four pending orders and one trailing stop

• Three modalities of execution and nine time frames

• Forex pairs, CFDs on stock indexes, metals, and energies are all available.

• Extensive trade history database

• Guides for MetaTrader 4 and Metaquotes Language 4 are pre-installed.

• Internal mail distribution system

• Backup and security of all data

• Capability to copy trading by subscribing to a Forex signals service

• The ability to create alerts

• Excellent accessibility — the platform is accessible via Windows desktop computers, MacOS devices, iOS and Android devices, as well as any online browser.

Guides for MetaTrader 4 and Metaquotes Language 4 are pre-installed.

• Internal mail distribution system

• Backup and security of all data

• Capability to copy trading by subscribing to a Forex signals service

The ability to create alerts

Excellent accessibility — the platform is accessible via Windows desktop computers, MacOS devices, iOS, and Android devices, as well as any online browser.

The Desktop PC edition requires Microsoft Windows 7 Service Pack 1 or later, an Intel Celeron CPU running at 1.7 GHz or higher, 256 MBs of RAM, and 50 MBs of free hard disk space.

Trading Platform MetaTrader 5 (MT5)

Their MT5 trading platform features comprehensive analytics and pending orders, expanded asset classes and trading capabilities, and the ability to hedge positions. More exactly, Blueberry Markets' MT5 platform enables traders to trade Cryptocurrency CFDs, Share CFDs, and Commodities with faster execution times and increased customizability.

More precisely, the broker's MetaTrader 5 platform features and capabilities are as follows:

• Multiple market access – Forex, CFDs on Stock Indices, CFDs on Shares, Metals, and Energies

• Support for all order types, including market, limit, stop, and trailing stop. The platform currently has six pending orders.

• A comprehensive set of technical analysis tools — 38 technical indicators, 44 analytical items, and 21 time frames – are included. Acces à des centaines d'indicateurs et de plug-ins personnalisés

• Users can examine up to 100 charts simultaneously with a single click.

• Superior MQL5 environment for expert advisor creation and backtesting

• Internal mail distribution system

• Economic Calendar Integrated

• Capability for web trading on a variety of operating systems - Windows, Mac, and Linux

• Capability for mobile trading on iOS and Android

• The ability to create alerts

Diverse Instruments of Trading

Blueberry Markets' MT4 and MT5 platforms each offer a unique set of offerings. Blueberry Markets offers approximately 300 financial instruments on the MetaTrader Platform, categorizes them as follows:

• 30 CFD currency pairs, including the AUD/USD, EUR/USD, GBP/USD, NZD/USD, USD/JPY, and USD/CHF.

• 8 exotic currency CFD pairs, including USD/SGD, EUR/HUF, USD/MXN, USD/TRY, EUR/NOK, and SGD/JPY.

• 10 Index CFDs - key worldwide indexes such as the S&P 500, the FTSE 100, the CAC 40, and the Nikkei 225.

• Three CFD Spot Metals are available: XAU/USD (Gold) and XAG/USD (Silver), as well as XPT/USD (Platinum)

• USOUSD (WTI Crude Oil) and UKOUSD are two CFD Energies (Brent Crude Oil)

• CFD Shares - 197 Australian stock exchange (ASX) and 50 US stock exchange (NYSE) shares

• Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ripple are five CFD Cryptocurrencies.

On the negative side, the broker does not offer cryptocurrency CFDs or equity CFDs through its MetaTrader 4 platform. Clients can, however, use the MetaTrader 5 platform to trade five cryptocurrency pairings (Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple) and many Australian stocks. Additionally, the MT5 platform supports one additional metal pair: platinum spot against the US dollar (XTP/USD).

Customer Service

Blueberry Markets has a stellar reputation for customer service, as evidenced by its continuously high ratings on internet review sites.

With over 2,500 five-star reviews, it has a 4.9 rating on Google Reviews, a 4.8 rating on Trustpilot, and a 4.6 rating on Forex Peace Army for its service and customer experience center.

Customer service methods include the following:

• Live

• Chat

• Email Support

Additionally, the assistance center assists prospective clients in learning more about Blueberry Markets' online trading services. You'll discover answers to the most frequently asked questions about Blueberry Markets, the application, the client site, depositing and withdrawing funds, as well as MetaTrader 4 and MetaTrader 5.

Regulation

Blueberry Markets is a subsidiary of Eightcap, which means they operate under the same Australian Securities and Investments Commission license as Eightcap (ASIC). AFSL 391441 is the number assigned to this license. BlueBerry clients in Australia enjoy the complete regulatory protections mandated by ASIC.

Outside of Australia, traders are managed by Eightcap Global Ltd, a Vanuatu-based firm authorized by the Vanuatu Financial Services Commission (VFSC).

Blueberry Markets is an internet brokerage firm that specializes in over-the-counter trading instruments classified by asset class. Because Blueberry Markets is not a financial consultant, it “does not provide advice, suggestions, or opinions” about margin trading in CFDs and Forex.

According to the company, it maintains complete segregation of customer cash from its corporate accounts at a renowned Australian financial institution - the National Australia Bank (NAB).

Finally, Blueberry Markets does not offer a negative balance protection policy, which means retail clients must practice prudent money management and utilize all risk management instruments available to protect their active Forex positions.

Conclusion – Forex Brokers Review of Blueberry Markets

In general, our Blueberry Markets review believes that this brokerage trading organization provides its clients with relatively favorable trading conditions. While Blueberry Markets may not be the finest forex broker for busy traders, you may still trade throughout the day using their trading platform (MT4 or MT5).

Several factors counted against the broker in our study, including the limited selection of CFD instruments, the lack of a proprietary trading platform and mobile trading application, the larger markup spreads, the lack of extra trading tools, and the lack of an FCA license.

We found their support to be quite attentive, and all of our inquiries were promptly addressed. However, the primary focus of our evaluation was on Blueberry Markets' online trading facility, which falls short of the standards set by forex brokers such as Pepperstone.