Are you thinking about trading with Blueberry Markets? There are hundreds of forex brokers online and a huge amount of scams so it can be really hard to know who you can trust. Luckily, we have extensively researched and tested Blueberry Markets, everything from the trading platforms, to the account types and regulation. We have taken a really deep dive into all of the relevant information so you can make a decision whether this broker is for you or not. Let’s find out…
Who Are Blueberry Markets
Blueberry Markets are an Australian based forex broker founded in 2015, offering over 50 forex pairs on MT4 & MT5, with ECN conditions. They offer professional trading conditions, paired with up to 1:500 leverage on trading accounts. Alongside their great trading conditions and tight spreads, Blueberry markets has a perfect reputation in the online trading community whilst being fully regulated by ASIC and abiding by their client fund segregation rules.
Blueberry Markets is actually the trading name of Eightcap Pty Ltd, ABN 73 139 495 944. Eightcap is regulated by ASIC, AFSL number 391441. Over the last few years there have been some amazing brokers coming out of Australia, all offering great 1:500 leverage, unlike European brokers. From the first glance, this is a perfect forex trading broker for those looking to have a safe and professional trading experience, but let’s dive into more detail…
Luckily for us, Blueberry Markets is based out of, and regulated in Australia. For this reason they are able to offer 1:500 leverage to clients, which is a HUGE bonus as this allows traders to grow accounts at a nice pace. If you are worried about having high leverage, you are able to reduce it right down to 1:1 in your client portal, so there is no risk of losing a large percentage of your account in just one trade.
|Spreads||Less Than 1 Pips On Most Pairs, From 0.0 Pips On Professional Account|
|Commissions Per Trade||$0 On Standard Account, $7 Per Lot On Professional Account|
Like the majority of forex brokers online these days, you will have access to over 54 trading pairs. This includes majors, minors, index, commodities and energies – more than enough! If you want to trade specific markets I would advise creating a free demo account now to test the spread and conditions on that pair, but if you are just trading standard forex pairs then the conditions at Blueberry are more than good enough!
Spreads and costs are extremely important for traders, especially scalpers, as this type of trading nets just a small amount of pips per trade. Even swing traders really need to ensure they have a competitively priced forex broker. Now with this broker, the standard account has a $0 commission per trade and a variable spread of roughly 1 pip per trade. This is fairly competitive in terms of fees, not the cheapest in the market but far from being expensive! The professional account has a spread from 0.0 pips and a commission of $7 per 1 lot traded, which is extremely cheap!
In summary, the trading conditions offered by Blueberry markets are second to none. I find the conditions absolutely perfect for day trading forex instruments and even longer term moves. The professional account is one of the cheapest in the market! Even if you can find slightly cheaper fees in the markets, having the security of a trusted forex broker regulated by the ASIC is definitely worth that extra $1 fee per lot traded!
This broker offers 2 live trading accounts, alongside a free demo account. These accounts are perfect for a range of different traders from scalpers to swing traders. This is split up into a Standard Account and a Professional Account. Both of these account types come with 1:500 leverage, very tight spreads, low commissions and over 54 tradeable instruments on MT4 and MT5! Let’s have a look at these accounts in more detail…
In summary, I would highly recommend the Standard account for the majority of forex traders. You can come into the markets with a very low deposit of just $100, have high leverage and still have very tight spreads without paying any commission. If you are a professional trader coming in with a big account size, or even a scalper, I would recommend the Professional Account, as having 0.0 pips spreads and just paying commission can definitely come in handy! I use the Standard account and have absolutely no issues at all!
As most forex brokers do, they offer a demo/practice account for new traders to get a feel for the markets. You can sign up for a demo account here. If you are new to forex I would definitely recommend giving the demo account a go whilst perfecting your analysis, or even just to test the conditions at Blueberry markets if you are an experienced trader.
Are Blueberry Markets Regulated
When you are choosing a forex broker to trust your money with, it’s extremely important to understand how that broker is regulated. If a broker is completely unregulated, you leave yourself exposed to spreads being manipulated, deposits going missing, withdrawal issues and all types of problems that result in your losing your capital. So it’s really important we look into Blueberry markets regulation and governing bodies.
Blueberry markets are 100% owned, managed and regulated in Australia, as you can see here. In adherence to the regulations within Australia, all client funds are held in a separate account at the bank of Australia (NAB). Also, withdrawals are processed the same or the next working day, with an easy withdrawal option in your client portal. In short, they are regulated by ASIC and keep clients funds segregated meaning your capital is safe with this broker.
ASIC is one of the best governing bodies when it comes to regulating forex trading brokers, so it’s great to see that Blueberry markets are regulated by this entity. If anything changes, I will make sure to update this article with the latest regulatory news. Due to abiding by the AML/CTF regulations, this broker cannot accept clients from certain countries like the USA. If you are in doubt, I would recommend looking here for the countries that they are able to accept clients from – it’s most countries!
Blueberry markets also have an entity in Vanuatu, which is regulated by VFSC. This also abides by the client capital segregation rules and has the exact same processes, fees and support structure as the main Australian arm.
This broker offers a great selection of trading platforms for retail traders, very similar to most brokers in the markets right now. These include:
- MT4 (For desktop and mobile)
- MT5 (For desktop, mobile and web)
MT4 or MetaTrader4 is the most common retail forex trader platform and it has been the favourite for many years now, so it’s great to see that this is something they offer alongside the updated version, MT5. Truth be told, my favourite forex trading platform is cTrader so it’s definitely a shame for me that it isn’t something Blueberry markets can offer, but I have used MT4 for many years now so it’s not really a problem.
MT4 has some really great features for retail forex traders:
- Simple order execution
- Account statistics/analysis
- Charts for price action
- Variety of free tools and indicators
- Multiple time frames
- Great data feeds
- Supports EA’s / VPS trading
|For Retail Traders||For Retail & Professional Traders|
|Popular But Basic Functionality||Much More In-Depth Functionality & Tools|
|Free To Use||Free To Use|
I would highly recommend downloading the MT4 platform onto a laptop or computer to do your actual on chart analysis, as it can be really hard to see the detail on a mobile device. I usually execute trades on the MT4 computer platform, then monitor that position on the MT4 mobile app whilst I’m out on the go – it’s a great combination.
MT5 is much more advanced than MT4 in terms of the tools, order execution and the options offered. I would definitely recommend at least testing out MT5 before committing to only using MT4, as at some point MT4 will be discontinued and the majority of forex brokers will stop offering that platform and push traders onto the newer platforms like MT5 and cTrader.
Setting Up An Account
Setting up a forex trading account should be a relatively painless process, especially with most brokers offering 24/7 support. Blueberry markets is no exception – it’s extremely quick and simple to get started with your trading account. They offer two different types of trading accounts, with the standard account requiring just a $100 deposit.
The process is extremely fast and much like any other forex broker – you enter your details, submit 2 documents, wait for the confirmation email and you have yourself an account! No phone calls or anything like that. Sign up for an account now! If you have any issues with the documentation or any of the basic information you are required to provide, the support team are always there to help via live chat.
As far as setting up accounts go, it really couldn’t be easier to get going!
Deposits & Withdrawals
Blueberry markets offers the standard deposit and withdrawal methods you would expect to find at any forex trading broker, with both normal and electronic methods. At the time of writing this, the methods are:
|Bank Transfers||Possible Depending On Your Bank|
Deposits are withdrawals are processed extremely fast! There’s nothing worse than a broker taking a big percentage of your withdrawal as a beginner trader, so it’s nice that there is either a small or no fee here. With that being said, if you are using an international bank transfer, it’s more than possible that your own bank will take a fee for processing the withdrawal. If they happen to, that fee is of course passed on to yourself so do bare that in mind.
Through my research I haven’t managed to find anyone having a long term withdrawal issue from the broker, as they are very on top of processing the withdrawals. Should I start noticing any withdrawal issues I’ll be sure to update this review, but for the mean time Blueberry markets are staying true to their brilliant reputation within this retail space!
Support For Clients
There are a number of really easy ways to get in touch with Blueberry markets, which is a very good sign from a broker. There’s nothing worse than having a problem with your deposit or withdrawal and not being able to contact any support team, or waiting a week for a reply. With this broker, you really are spoilt for choice!
On the website there is a 24/7 live customer service chat feature, where you can get in contact with the support team at any hour of the day. There is also a contact form on this page, that will get you in contact with one of the support team very quickly as well. Blueberry markets also have a customer support phone line, an email address and even an office in Australia you are able to go to, should you be in the area. Although for me here in the U.K, the live chat is more than helpful enough!
- Phone – +61280397480 (AU)
- Email – firstname.lastname@example.org
They offer a free demo account for you to test the trading conditions before you sign up and commit to the broker, but I would highly recommend reaching out to the customer support team and asking any questions you may have.
It’s worth stating that they do not offer any support in the way of education/resources for clients, which can put some people off. Personally this doesn’t bother me at all as there are thousands of really good trading educational resources online for free these days, like Babypips for instance or 5 minute forex on YouTube.
The odd positive or negative review online shouldn’t be held in too high regard as they can be faked or made by third parties that gain from talking down to other brokers. With that in mind, the reviews Blueberry markets have should most definitely be taken into account. They have a huge amount of extremely positive reviews online, across all of the forex trading forums. This includes 4.6/5 on Forex Peace Army, 4.9/5 on Trustpilot and 4.9/5 on Google Reviews – all spread over nearly 1500 reviews from independent forex traders worldwide.
I will of course update this if anything changes in the future, but in summary, as of the time of writing – Blueberry markets have potentially the BEST reputation of any forex trading broker online.
Partnership With FTMO
If you are a budding forex trader, I’m sure you would have heard of FTMO. If not, FTMO are a prop funding service that funds retail traders up to $100,000 (if you can prove profitability). FTMO is a very reputable company that has been around for many years now, I have even used them myself and have nothing but kind words to say about the company. If you want to know more about FTMO and getting yourself a $100,000 forex trading account, click here!
FTMO partners with a very select few forex brokers – this includes Blueberry markets. This is a huge confluence & good sign for the brokerage, as an institution like FTMO wouldn’t be partnering with any shady brokers, or those with bad reputations. The partnership between the two companies started back in 2018 and has been running smoothly ever since!
In conclusion, Blueberry Markets is a great forex trading broker! They offer amazing 1:500 leverage, with great trade execution, deep liquidity, a variety of trading platforms and over 54 pairs. Alongside that, they are fully regulated by the ASIC and have a perfect reputation within the industry. You only need to head to forums to see hundreds of great reviews from traders all around the world, all depositing, trading and withdrawing with this broker! I really have used a lot of brokers over the last few years and I’m glad FTMO introduced me to this one, because it’s without a doubt one of the best brokers I have ever used.
If you have any questions about this broker before signing up, please do leave a comment or get in contact and I will aim to answer any questions you may have for me!