Blueberry Markets Review
Blueberry Markets is a Forex broker that offers the MT4 and MT5 platforms. The broker has been on the market for several years now, and it has headquarters in Sydney, Australia.
On top of that, it offers multiple tradable instruments. Due to its offers and services, Blueberry Markets has received some recognition in the market. Overall, it gained a good reputation among traders, making it a good alternative for traders.
Still, you might want to find out more about the broker. The more you know, the easier it will be for you to determine the reliability level of the company.
When it comes to Blueberry Markets, you might want to learn about its security and licensing, among other things. Luckily, this review will tell you everything you need to know.
Who Is Blueberry Markets for?
Blueberry Markets is great for both beginners and professional traders. They have two account types that suit the needs of both categories of traders.
The Standard account has very low minimum deposits and there are no additional costs and no commission costs. Moreover, it brings access to more than 300 instruments and offers MT4 and MT5. It is a simple account that anyone can use.
Then, there is a professional account option that is great for people with more experience. It has the same minimum deposit, but it charges a $7 commission and has spreads starting from 0.0 pips.
Beginners also have a demo account option available, which allows them to test out the platform.
Because of the low costs, Blueberry Market is also great for people who do not have too much money to spend on trading.
Things We Like
We love the fact that the platform is very welcoming overall and the fact that it has quite a lot of trading instruments available. They offer tight spreads too, and the overall price of using the platform is very low. You do not need a lot of money to enjoy trading with them, and that is the best thing.
Also, the customer service is truly impressive, and it is highly unlikely for them to not be able to solve a problem. They are always there for the users of the platform, and it is very important to have such a dedicated team.
Furthermore, opening an account is very easy and it only takes a few minutes to go through the entire process.
Things We Don’t Like
While they offer educational materials to some extent, their education section is nowhere near complete. It is a lost opportunity because some people would love to learn a bit more before they jump into trading. Also, it was disappointing to see that U.S. citizens do not have access to this platform at all.
And while they have a wide range of trading instruments, the portfolio is a bit limited compared to other brokers.
Pros / Cons
- More than 350 instruments are available
- Well-regulated platform
- Trading with no commissions
- Clients from the U.S. are not accepted
- Limited trading instrument portfolio
- The education section is decent but not the best
Safety and Regulation
You shouldn’t rush into trading right away. First, you may want to read the following information regarding the broker’s safety:
Who Is Blueberry Markets?
Blueberry Markets is a broker from Australia that was founded in 2016. It is a global broker, and it works 24/7. Blueberry Markets Group is the name of an entity known as Eightcap Pty Ltd.
It holds an Australian Financial Services License, which allows them to offer financial services to Australian people.
The broker offers multiple tradable instruments such as Commodities, Indices, Currencies, Share CFDs, and Cryptocurrency CFDs.
Is Blueberry Markets Regulated?
As it is a trading name of Eightcap Pty Ltd, Blueberry Markets is regulated by several financial authorities. These include the Australian Securities & Investments Commission, as well as the Vanuatu Financial Services Commission. Therefore, the broker has to abide by the highest Australian corporate governance, financial disclosure, and reporting standard as well.
Blueberry Markets Licenses
- Eightcap Global Ltd – authorized by VFSC (Vanuatu) registration number 40377
- EightCap Pty Ltd – authorized by ASIC (Australia) registration ABN 73 139 495 944 AFSL 391441
Is Blueberry Markets Safe or a Scam?
Blueberry Markets is not a scam, especially considering it is regulated by such top-tier authorities. But apart from the regulation, what makes the broker safe is the fact that the client funds are segregated, so they are held in accounts that are separate from the funds of the business. In case the broker goes bankrupt or anything bad happens, your funds will be safe.
Countries It Accepts Clients from
The Australian broker accepts clients from many countries of the world as it is available globally. However, it is not allowed for Japanese or U.S. citizens because there are some regulatory constraints in place.
Even if it hasn’t been on the market for a very long time, Blueberry Markets has received some recognition. It managed to become a Best Bootstrapped Startup nominee at the Australasian Startup Awards 2018, as well as the Best Online Customer Service finalist at the Finder Innovation Awards 2020.
Range of Offerings and Products
The product range offered by Blueberry Markets is pretty vast. The platform offers trading opportunities for Oil and Metal Commodities, Cryptocurrencies, CFDs, and Forex. In total, they offer more than 300 instruments across some of the most traded instruments, which is great.
Their selection is still not as varied compared to other platforms, so it may not be complete for some traders.
Blueberry Markets offers some pretty high leverage. Their default leverage is 1:30 for AU resident clients, and the maximum one is 1:500 for Forex instruments. The leverage option is great as it can boost your gains.
Blueberry Markets offers the MT4 and MT5 platforms, which are some of the most popular ones in the trading community. Their platforms are user-friendly, and they have some powerful technology as well.
The web platform is great as you do not need to download anything on your computer – you can just use your browser. It uses the MT4 and MT5 systems as well, and it has plenty of tools that you can use to your advantage. It works smoothly and makes trading very easy overall.
Then, they have a desktop platform as well, which you have to download to your PC. The MT4 and MT5 platforms come with a lot of add-ons, as well as amazing chart features, live Forex trading, and automated trading opportunities.
Moreover, the desktop platform comes with some in-depth trading history and with free tools to use. Both beginners and experts will have a great time with the capabilities offered by the platform.
Lastly, they have a mobile platform that allows you to trade when you are away from your computer or laptop. The mobile app offers full control over the account and your orders. You also get great customization with it as well as push notifications.
There are two account types offered by Blueberry Markets. On one hand, you have the Standard account, which has a $0 commission and spreads from 1.0 pips. On the other hand, you have the Blueberry Direct Account, with spreads from 0.0 pips and a $7 commission.
People can also access a demo account before they sign up with a real account. It is a great way to see what Blueberry Markets has to offer before committing to its system.
Deposits and Withdrawals
Multiple methods can be used to make money deposits. People can make bank transfers or choose to use a card or an e-wallet.
What Is Blueberry Markets Minimum Deposit?
The minimum deposit with Blueberry Markets is $100, no matter the account type.
Fortunately, you can use the same range of methods for withdrawals. It is best to check out the payment provider beforehand in case any fees apply in your jurisdiction, though.
Blueberry Markets Promotions
Blueberry Markets doesn’t offer promotions or bonuses. Perhaps this will change in the future.
When it comes to education, clients have access to things like Forex market updates on a daily basis, but they also have a trading blog available with lots of information. On top of that, their official YouTube page offers lots of information too. Blueberry Markets also has some great research tools that are free to use.
Despite these aspects, the section is not as developed as some might like or need.
Verdict – Overall Rating
Overall, Blueberry Markets is a great platform with plenty of features and tools for its users. The instruments are great, and so are the trading platforms. You have a low minimum deposit and low commissions too, and the customer service is great. However, their education section is quite limited, so they need to work on it a bit more.
All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. Our reviews and overall scores are based on the key areas above, in a combination with our opinion and commentary.
The reviews are shared and discussed with the brokers, but the authors of our website always have the final word. Furthermore, we always strive to keep the information on our website updated and relevant for our readers.
What helps us stand out is that we always test our brokers with an anonymous live account, to ensure we deliver the most accurate information and experience to our readers. Finally, our reviews and evaluation are always independent of any financial compensation we may receive from the brokers.
There is a very high degree of risk involved in trading securities.
With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.
All investments involve risks and are not suitable for every investor. The value of securities may fluctuate and as a result, clients may lose more than their original investment. The past performance of a security or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against the loss, in a down market.
There is always the potential of losing money when you invest in securities or other financial products. Investors should consider their investment objectives and risks carefully before investing. More details here.
Looking for more information on brokers and trading? Have a look at our trading guides:
- Best Forex Brokers for 2021
- Best Binary Options Brokers for 2021
- Best Online Stock Brokers for 2021
- Best Trading Apps for 2021