blueberry markets review
Blueberry Markets Review
Blueberry Markets is an Australian based online broker who offers tradable currencies, indices, commodities (metals and oils), cryptocurrencies CFDs and share CFD.
Blueberry Forex Broker offers 24/7 customer service to all demo and live account holders. As a finalist for Finder’s Best Online Customer Service Award in 2020 & 2021, Blueberry has been recognized as one of the best online marketplace startups across Australia, New Zealand & Singapore.
What is Blueberry Markets?
Blueberry Markets is a broker and trading name of EightCap. It offers transparent pricing, along with technology solutions for the best liquidity providers in the industry since 2009. Their brokers provide tight spreads and light-speed execution, as well as long-term trading strategies.
Awards
Blueberry Markets has also been recognized by the industry’s award-giving bodies:
- The company is a finalist for the Best Online Customer Service award at Finder’s Innovation Awards 2020.
- Blueberry Markets is not a scam and operates in compliance with Australian law.
- If you are looking to trade Forex or CFDs safely, it will be one of the best options available!
Is Blueberry Markets safe or a scam?
As a legitimate and regulated broker in Australia, Blueberry Forex Broker is subject to ASIC oversight. This would be proven by the company’s EightCap holding who meets those standards as well. Furthermore, Blueberry Markets segregates all retail client funds from business funds with segregated bank accounts to ensure that no fraud can occur.
Is Blueberry Markets legit?
As a legitimate and regulated broker in Australia, Blueberry Markets is subject to ASIC oversight.
ASIC is a world authority that regulates Forex trading. It does so by meeting the highest standard of governance, financial reporting and disclosure regulations; this would be proven by Blueberry Markets’ EightCap company who meets those standards as well.
This broker keeps all retail client funds separate from business funds, using segregated bank accounts.
Blueberry Markets Leverage And Margin Requirements
Forex trading has many advantages, one of which is that it can be done on the open market. Another great feature is the possibility to use Blueberry Markets leverage in forex – and this may help you get a higher return over time.
However, there are some risks with this opportunity: you need to make sure not too much or too little money is going towards an investment- something many people don’t realize until they start trading Forex.
Blueberry Markets Leverage ratios are often restricted by regulatory guidelines, and Blueberry Forex Markets is no exception. For Forex instruments, the maximum leverage is 1:500; for Australian residents, it’s a slightly less restrictive ratio of 1:30 – but you should always read deeply on how to use these tools!
When trading forex, ASIC in Australia have leverage caps of 30:1 whereas the VFSC allows much higher levels of 500:1. It is worth noting that high-leverage levels are only available with certain exotic currency pairs.
Australian law imposes certain restrictions for CFDs depending on what type of product your trade is. For example, if you traded equity in the form of shares, or if the contract came into effect when there was no equity invested in a particular asset – then these types of trades are not allowed under Australian law.
you invest $500, your baseline return would be 2%. Recent policy changes might mean that people will not be able to take excessive risks and endanger themselves through leveraged trades where they have little chance of meeting One of the obligations involved with trading futures is being forced to sell an asset because of margin calls or if liquidity providers withdraw funding that had been previously pledged against the position. This may happen when prices become too volatile during times like shocks and events, which carry risks for traders’ positions.
Account types
There are two types of accounts available at Blueberry Forex Markets: Standard and Direct. The standard account has no commission fees, while the Direct Account is more transparent and shows the raw market spread.
Professional traders who trade in bigger sizes will incur our brokerage fees at the completion of each trade.
I knew the advanced trading account offered by Blueberry Market would be different. The platform is perfect for people who know when and how to chunk orders in order to manage risk levels. It’s also great for those of us looking into certain markets not available through other brokers, such as 100% commission rebates on all UTPs executed while signed up with them!
How to open an account
Getting started is easy! Just follow the sign-in page and click “Next” when you’re given instructions. Uploading identification and residence will prove your identity after account confirmation, then complete access to the client portal where all account management takes place.
Fees
Blueberry Markets provides tight spreads for professionals, and this is accounted for in the fee. Brokers also charge an additional 0 pips on standard accounts but apply a higher spread to forex with their service mark-up.
Blueberry Markets Spreads
The Blueberry Markets spreads with a standard account is higher than that of other brokers. A 1 pip difference in EUR-USD trades costs you around $9, which is considered good because most traders want to trade at the lowest point possible.
As you can see from the chart below, you have several spreads to choose from. Professional accounts typically earn 0.2 pips on EUR USD pairs; however, this can go up or down depending on where rates change.
FP Markets’ price of $7 per trade is similar to what you would get without an interbank spread on EUR USD, when compared to other traders who want better prices (-0.1pips).
Swap
It’s important to take into consideration the fees associated with trading in the foreign exchange market. For example, how much a Rollover rate is and what it means for you. The interest rates are determined by differentials between two currencies involved in trade as well as an overnight interest rate that is calculated on top of this differential, which can also be traded on its own depending on your preference .
Trading Instruments
Blueberry ECN’s trading instruments also include Forex, metal and oil commodities, indices. It provides a range of 300 different funds to trade from with its clients across major ones like the US share CFDs.
Blueberry Markets Withdrawals and Deposits
Blueberry Markets offers a variety of payment methods to fund your account’s trading. These include Visa/MasterCard and Skrill, as well as Bank Wire Transfers.
Some traders might like to use their base currency – US dollar. The minimum deposit amount is 100 USD for the Standard account and 2000 USD for professional or tailored solutions which require 2,000 in total. High-volume traders can get a great opportunity!
Blueberry Markets Minimum Deposit
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Minimum Deposit |
$100
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Withdrawals
Blueberry Markets makes it easy for you to make deposits and withdrawals, with a wide selection of options including credit cards. t is important to note that there may be fees and rules imposed by your payment provider when transferring money internationally. It is best to check upfront with them before proceeding, especially if you are trying to transfer a large amount of funds.
Most withdrawals take place within the broker’s 24-hour processing period.
Trading Platforms
One of the first steps in our review is a definition of the platforms through which you can access trading.
Web Platform
Blueberry Markets is an online trading platform that enables trades in automated mode with the help of MetaTrader4 and MetaTrader5. This makes it convenient to trade on both a desktop computer or mobile app, as well as Web versions too!
Desktop Platform
Both platforms are pretty much the same. They have a range of useful features and powerful chart capabilities, as well as numerous add-ons that can help traders with their trading decisions. There is also an option for automated Forex trading rooms which work for both beginner and advanced traders alike!
Blueberry Markets Advanced Desktop Platforms come with free tools for traders, an easy-to-use interface, and exclusive access to even more powerful features than that of the non-member version.
Mobile Platform
The Blueberry Markets mobile app is a tool to manage orders. It can be as easy as having your orders placed on the go, with push notifications and great customization options. The MetaTrader versions of this application are compatible for both iPhone and Android smartphones.
Trading Platforms Offered
Blueberry Markets offers clients two powerful trading platforms that are available across a variety of devices: internet browser-based and desktop, or smartphone.
MetaTrader 4 – is easy to customize and flexible.
MetaTrader 5 – offers the ultimate trading experience to clients.
MT4 Trading Platform
The Blueberry Markets MT4 platform includes 30 indicators and charting tools that traders can use to trade on hundreds of markets. Clients also have the option to develop their own Expert Advisors for algorithmic trading, which gives them more control over how they invest in trades.
Other key features of the Metatrader Trading platform include:
- Easy use One-Click trading option
- 4 pending orders, 1 Trailing Stop
- 3 order execution modes and 9-time frames
- Our service offers access to Forex pairs, Stock Index CFDs, Metals and Energies.
- Profound trading history database
- MetaTrader 4 and Metaquotes Language 4 have built-in guides to guide you through all the different features.
- Internal mailing system
- Full data backup and security
- Copy – By subscribing to the Forex signals service, you gain access to copy-trading capability.
- Ability to set up alerts
- Good accessibility –This web platform can be accessed from Windows-based PCs, Macs, iOS and Android devices as well as any browser.
Microsoft Windows 7 SP1 or higher, Intel Celeron CPU 1.7 GHz or higher and 256 MBs of RAM is required to run the Desktop PC version.
MT5 Trading Platform
The unique features of Blueberry Markets MT4 are not just the tools that it offers, but also its accessibility. Clients can select from a wide range of online trading platforms as well as Expert Advisors. You get access to thousands of different trading opportunities when you invest in this platform!
The broker’s MetaTrader 5 platform offers the following key features and functionalities:
- Access to multiple markets –Foreign Exchange, Stock Index CFDs, Share CFDs, Metals and Energies.
- All types of orders are supported on the platform: market, limit, stop and trailing stops.
- This app offers a full suite of technical analysis tools. It has 38 indicators, 44 analytical objects, and 21-time frames available to you. Moreover, it contains custom indicators and plug-ins that allow for even more customization of your platform.
- The software also offers access to custom indicators and plug-ins.
- One-click trading option.
- Users can view up to 100 charts at the same time.
- MQL5, with its superior environment for developing and back testing expert advisor code, is the right choice for your trading needs.
- Internal mailing system.
- Built-in Economic Calendar.
- Web trading capability is available for Windows, Mac, and Linux.
- Mobile trading capability for iOS and Android.
- Ability to set up alerts.
In order to use the desktop PC version of our trading platform, you’ll need a Windows 7 or 10 64-bit operating system with a Pentium 4 or Athlon 64 CPU. Depending on how you plan to use the application, other hardware requirements may include things like high-load measurements or power consumption.
We recommend that clients create a new account on MT5 if they are not yet an active user of the platform.
Customer Support
With good points, Blueberry markets should be praised for having responsive 24/7 Customer Service which they operate. Their responses are quick and relevant, so you can count on good support at any time of the day or night. You can contact customer service via Live chat submissions, email feedback or phone lines anytime during their operating hours (which are 8 am to 8 pm CST).
Education
Blueberry Markets provides its clients with daily Forex market updates via the official YouTube channel. They also update their trading blog, which is on their website. Blueberry Markets will only offer quality research tools to its customers that are already available on the platforms and free for use. There are copy trade options as well so you can get some trading ideas from them too!
Conclusion - Blueberry Markets Review
The review concludes that Blueberry Markets is safe to trade with, also established in accordance with Australian laws and competitive pricing. What they really appreciate about its offering is a good balance between the trading conditions, environment and support it provides. Both beginning and experienced traders may find this service beneficial in long-term trading success.
In general, our Blueberry Markets review leads us to an assessment that this brokerage trading firm offers moderately good trading conditions for clients. It may not be the best broker for active traders but you can use their MT4 or MT5 platform to trade throughout the day if needed.
Some things that have weighed negatively in our review include limited CFD instruments, no proprietary trading platform and mobile app, higher markup spreads and lack of additional tools like FCA license, higher commissions per lot traded etc.
Unresponsive customer support services with SLAs (Service Level Agreements) non-existent at times which was disappointing considering major focus of our review is based on online services provided by this company.
