Blueberry Markets Review |
|
📅 Year founded |
2016 |
📈 Multiple top-tier regulation |
No |
📍 Headquarters |
Sydney, Australia |
🌍 Country of regulation |
Vanuatu |
✅ Regulators |
VFSC |
📈 Execution Type |
Market Execution |
💰 Minimum Deposit |
$100 USD |
🛡️ Negative Balance Protection |
No |
📉 Trading Platforms |
MetaTrader4 / MetaTrader5 |
☪ Islamic account |
Yes |
📉 Trading Instruments |
Forex / Shares / Cryptocurrencies / Commodities and Metals / Indices |
📱 Mobile trading |
iOS / Android / Windows |
💳 Payment Types Accepted |
Debit and Credit Card / Bank Wire Transfer / Skrill / DragonPay / KoraPay / Finrax / Cryptocurrencies / Multiple Local Currency Transfers |
🎮 Demo Account |
Yes |
ⓒ Copy Trading |
Yes |
🎁 Bonus Offer |
Refer-a-Friend |
💰 Account Currencies |
USD / EUR / GBP / AUD / CAD / CHF / NZD / SGD |
📈 Minimum Trade |
0.01 Lots |
📈 Account Types |
PAMM / MAM / ECN |
📈 Margin Trading |
Yes |
📈 Trading fees |
Low |
📈 Inactivity fee |
No |
💰 Withdrawal fee |
None |
☎ Customer Support |
24/7 |
💰 Max. Leverage |
500:1 |
✔️ Hedging Allowed |
Yes |
✔️ Scalping Allowed |
Yes |
💰 Commission |
Zero on Standard / $7 USD on Direct |
💰 Spreads |
From 0.0 pips |
💰 Leverage |
Flexible |
💰 Currency Pairs (Total Forex pairs) |
60 + |
🔢 Number of clients |
50 000 + |
🥇 Instruments Offered |
2 000 + |
📙 Education |
Trading Program / Video Tutorials / Trading on MetaTrader (MT4 & MT5) |
WHAT IS BLUEBERRY MARKETS?
Blueberry Markets is a prominent online forex and CFD broker that operates out of Sydney, Australia.
Established in 2016, it has rapidly developed a reputation for its reliability and exceptional customer service, which is available 24/7.
The broker is regulated by the Vanuatu Financial Services Commission (VFSC), which allows it to offer a range of financial services with a focus on competitive trading conditions.
Blueberry Markets is known for its strong commitment to providing traders with a supportive and efficient trading environment. The broker combines industry-leading technology with a clear focus on the needs and aspirations of its clients.
INTRODUCTION
Blueberry Markets stands out through its comprehensive offerings and robust trading environment. Since its inception in 2016, the broker has dedicated itself to providing a superior trading experience, leveraging advanced technology and implementing a client-centic approach.
One of the stand-out features of Blueberry Markets is its extensive range of trading instruments, offering over 2 000 instruments, covering diverse asset classes such as forex, shares, cryptocurrencies, commodities, metals and indices.
This vast selection allows traders to diversify their investment portfolios significantly, from trading traditional forex pairs to exploring opportunities in digital currencies and global equity markets.
Additionally, the broker also offers its clients access to DupliTrade, a powerful and popular social and copy trading tool, allowing their clients to follow signals and copy the trades of other, more experienced traders on the platform.
Through its wide range of tradable instruments and commitment to offering a user-friendly and efficient trading experience, Blueberry Markets positions itself as a top choice for traders seeking diversity and flexibility in their trading strategies.
Whether a novice in the trading world or a seasoned investor, Blueberry Markets aims to provide all the necessary tools, resources and support to help its clients thrive in the global markets.
PROS & CONS
PROS
- The broker has many fantastic customer reviews, with over 1 500 reviews on trusted platforms such as Trustpilot.
- Competitive spreads and low trading fees.
- Offers both MetaTrader4 and MetaTrader5 platforms.
- Excellent customer support with 24/7 availability.
CONS
- The broker is only regulated in one jurisdiction.
- There is no negative balance protection provided by the broker.
TRADING INSTRUMENTS
Blueberry Markets impressively caters to a broad spectrum of trading interests by providing access to over 2 000 tradable instruments across multiple asset classes.
This variety enables traders to pursue a diverse range of strategies tailored to different market conditions and personal investment goals.
Forex
Forex trading is a cornerstone of Blueberry Markets’ offerings, with traders having the ability to trade all major currency pairs such as EUR / USD, USD / JPY and GBP / USD, along with a wide selection of minor and exotic pairs.
This includes currencies from emerging markets, which can offer high volatility and potential for significant returns.
The broker offers over 60 forex pairs with leverage of up to 500:1 available to its traders.
Shares
The shares available for trading at Blueberry Markets include some of the world’s leading and most influential companies from exchanges around the globe. With shares from over 2 000 companies available, the broker ensures that their clients are never short of options.
Cryptocurrencies
As the digital currency market expands, Blueberry Markets keeps pace by offering its clients the opportunity to trade popular cryptocurrencies such as Bitcoin. Currently, the broker offers access to trade 5 different cryptocurrencies, so this is certainly a range they could add to in the future.
Commodities and Metals
Trading commodities allows market participants to engage with a fundamental aspect of the global economy. Blueberry Markets offers its traders the opportunity to trade in precious metals and commodities including gold, silver, platinum, brent crude oil and US crude oil.
Indices
For those looking to take positions based on the broader market trends, Blueberry Markets offers trading on a variety of major global indices such as the S&P 500, FTSE 100 and Nikkei 225.
Indices are beneficial for traders who prefer to analyse and invest in the overall health of an economy or a sector rather than the prospects of individual companies.
Through these instruments, Blueberry Markets ensures that its traders have access to a wide array of markets while providing the necessary tools and platforms for effective and efficient trading in all these areas.
TRADING PLATFORMS
Blueberry Markets offers its clients two of the most widely acclaimed trading platforms in the industry: MetaTrader4 (MT4) and MetaTrader5 (MT5).
These platforms are renowned for their robust functionality, user-friendly interfaces and extensive range of tools, making them suitable for both novice and experienced traders.
MetaTrader4 (MT4)
MT4 is arguably the most popular forex trading platform in the world and has become a standard for the industry due to its powerful analytical tools, straightforward interface and expansive functionality.
Key features of MT4 include:
- Advanced charting tools whereby MT4 offers a comprehensive set of charting capabilities, enabling traders to analyse market trends with a variety of technical indicators and graphical objects.
- Traders can automate their trading strategies using EAs, which are programs that can carry out trading operations automatically based on predefined parameters.
- Users can customise the trading environment to suit their trading style and preferences, including the ability to use custom indicators and scripts.
MetaTrader5 (MT5)
While MT4 remains a stalwart for forex traders, MT5 offers several enhancements and extended capabilities, making it suitable for trading a broader range of financial instruments.
Key advantages of MT5 include:
- Unlike MT4, which focuses primarily on forex trading, MT5 is designed as a multi-asset platform, intended to provide traders with access to stocks, futures and commodities, in addition to currencies.
- MT5 includes more advanced tools for comprehensive price analysis, algorithmic trading applications (trading robots) and copy trading.
- Integrated directly into the platform, the economic calendar provides traders with important financial events and indicators that can affect their trading strategies.
- MT5 supports more chart types, timeframes and graphical objects, giving traders greater flexibility and precision in market analysis.
- MT5 allows traders to send two stop orders and six pending orders, broadening the strategies that can be employed in trading.
The availability of both MT4 and MT5 allows Blueberry Markets’ clients to choose a platform that best fits their trading style and needs.
MT4’s familiarity and ease of use make it ideal for those who primarily trade forex, while MT5’s extended features cater to traders looking to engage with multiple financial markets from a single platform.
This flexibility underscores Blueberry Markets’ commitment to providing tailored trading solutions to its diverse client base.
ACCOUNT TYPES
Blueberry Markets caters to a diverse range of traders by offering two distinct account types, each designed to meet different trading needs and strategies.
Below is a detailed overview of each account type to help traders choose the one that best suits their trading style and objectives.
Standard Account
The Standard Account is ideal for newer traders or those who prefer simplicity in their trading operations. This account type offers a more straightforward approach to trading with no commission fees, making it easier to calculate costs and potential profits.
The Standard Account requires a minimum deposit of only $100 USD and allows traders to access spreads from as low as 1.0 pips, without being charged for commissions on trades. Additionally, traders have access to leverage of up to 500:1.
Direct Account
The Direct Account is tailored for traders who require lower spreads and are willing to pay commissions on their trades. This account type is ideal for day traders and scalpers.
The Direct Account also requires a minimum deposit of $100 USD and has similar features to the Standard Account, with the main difference being the spreads and commission charges.
The Direct Account offers raw spreads from 0.0 pips, while commissions are competitively priced at only $7 USD per lot, round trip.
Both account types provide full access to all trading instruments offered by Blueberry Markets, including forex, shares, cryptocurrencies, commodities, metals and indices.
Additionally, all traders, regardless of their account type, enjoy benefits such as 24/7 customer support, educational resources and trading tools provided by Blueberry Markets.
Additionally, the broker offers a Premium option for traders who wish to customise their own account and have access to further flexibility. Traders are required to meet certain criteria before applying to become a Premium Trader and enjoy further benefits such as having a dedicated account manager.
The broker also offers an Islamic Account option, to cater to traders who are required to adhere to the Islamic faith. The Islamic Account is a swap-free, no interest account and can be in the format of either the Standard or Direct Accounts.
HOW TO OPEN AN ACCOUNT
Opening an account with Blueberry Markets is straightforward, easy and efficient. On the broker’s website, traders can apply for an account and submit the various documents required by the broker, which need to be verified.
Once the documents and information submitted is verified, traders can deposit their funds and start trading on the platform they have selected.
DEMO ACCOUNT
Blueberry Markets offers a demo account that simulates real trading conditions with virtual money. This is an excellent way for new traders to practice trading strategies without risking actual capital.
Additionally, the demo account is also useful for experienced traders who are looking to test new strategies, without risking capital, before implementing them on their live accounts.
SOCIAL TRADING AND COPY TRADING
Blueberry Markets recognises the growing interest in social trading and copy trading as valuable strategies for both new and experienced traders.
To facilitate these strategies, the broker integrates DupliTrade, a prominent automated trading platform that allows clients to automatically replicate the actions of expert traders.
This service is ideal for those who might lack the time or expertise to analyse the markets but still want to actively participate in trading.
DupliTrade features a handpicked selection of strategy providers with a demonstrated track record of success. Traders can view detailed profiles of each strategy provider, including historical performance, risk level, number of followers and much more.
Once a trader chooses which strategy provider to follow, DupliTrade synchronises with the trader’s Blueberry Markets trading account, automatically replicating the provider’s trades in real time.
COMMISSIONS AND FEES
Blueberry Markets is known for its competitive fee structure. The Standard Account does not charge any commissions as the fees are built into the spread, allowing traders to easily calculate their trading profits and losses.
The Direct Account charges commission at $7 USD per lot, round trip, which is very competitive in the trading industry.
Additionally, the broker keeps its fees low by not charging fees on withdrawals, deposits or an inactivity fee which is common with other brokers.
LEVERAGE
Leverage at Blueberry Markets can go up to 500:1 for certain instruments, providing traders with the potential to increase their exposure with less capital. The availability of leverage is influenced by a variety of factors such as the trading instruments selected and the jurisdiction in which a traders resides.
Traders are encouraged to research what their leverage availability would be and to familiarise themselves with the risk that leverage poses, especially since the broker does not provide negative balance protection.
WITHDRAWALS AND DEPOSITS
The broker supports multiple deposit and withdrawal methods including debit and credit cards, bank transfers, eWallets such as Skrill, cryptocurrencies and a range of local currency transfers.
Blueberry Markets does not charge any fees on withdrawals or deposits, however, they do state that third-party financial service providers may charge fees when clients withdraw or deposit funds.
The withdrawal and deposit process with the broker is quick and efficient, with most methods being processed within an hour.
CUSTOMER SERVICE
Customer service is available 24/7 via live chat, email and phone. The support team is responsive, knowledgeable and ready to assist with any queries or issues that traders might encounter.
The broker offers customer support in multiple different languages, to cater for over 50 000 clients from countries around the globe. The support team has received fantastic reviews from clients and it would seem that Blueberry Markets has one of the best customer service offerings in the market.
SAFETY AND SECURITY
Safety and security are paramount considerations for any trader when selecting a forex broker. Blueberry Markets takes these aspects seriously by implementing robust security measures and operating under strict regulatory oversight to ensure a secure trading environment for all its clients.
Blueberry Markets is regulated by the Vanuatu Financial Services Commission (VFSC). This regulatory body ensures that Blueberry Markets adheres to specific financial standards and operates within the legal framework established to protect investors.
In addition to regulatory compliance, Blueberry Markets employs various security measures to protect client data and ensure the integrity of trading activities including data encryption, secure login processes and excellent network security features.
Additionally, the broker also implements the segregation of client funds, meaning traders’ funds are held in a separate bank account to the broker’s. This ensures that client funds are not used by the broker and are protected in the unlikely event of the broker’s insolvency.
PROMOTIONS
Currently, Blueberry Markets does not offer any deposit or welcome bonuses to its clients, however, they do offer a Refer-a-Friend program, whereby existing clients can earn commission for referring other traders to deposit money with the broker.
The broker also offers free VPS services, provided that traders meet the minimum monthly trading volume to stay eligible for such service.
RESEARCH
The broker provides traders with various research tools on their website including market news and analysis, Week Ahead for Trading, an economic calendar and a weekly newsletter.
Additionally, there are a range of research tools available on the MT4 and MT5 platforms, ensuring traders have access to all the tools and information they require to make informed trading decisions.
EDUCATION
Blueberry Markets offers an educational section featuring their own trading program catering to beginner, intermediate and advanced traders, through a range of educational videos.
Additionally, the broker has multiple video tutorials available, including video tutorials on using the MT4 and MT5 platforms.
The educational tools on offer with the broker are a fantastic resource for all traders and highlight Blueberry Markets’ commitment to helping their clients succeed.
GLOBAL AWARDS
From our research into the broker, it seems that Blueberry Markets has not yet been recognised for their outstanding services, with no global awards listed on their website.
However, we did find that the broker has been a finalist for the Finder Awards in the category of Best Online Customer Service in 2020 and 2021, highlighting the broker’s excellent customer service record.
Additionally, the broker has received great customer reviews, further solidifying their reputation as a broker committed to their clients’ satisfaction.
SAFE OR SCAM?
When evaluating the legitimacy of a forex broker like Blueberry Markets, it is crucial to consider several key factors that help ascertain the broker’s reliability and trustworthiness.
As previously mentioned, Blueberry Markets is regulated by the VFSC whose role is to oversee and regulate the financial services market within its jurisdiction to ensure that licensed entities comply with the required laws and regulations.
Although the VFSC is not as widely recognized as regulators like the U.S. Securities and Exchange Commission (SEC) or the UK’s Financial Conduct Authority (FCA), it does enforce certain standards that brokers must adhere to, such as operational transparency and client fund protection.
Blueberry Markets maintains a transparent business model where detailed information about its trading services, account types and fees is readily accessible on its website. This transparency is a positive sign, as it demonstrates the broker’s commitment to fair trading practices and openness with its clients.
Additionally, the implementation of practices such as segregating their clients funds, indicates that Blueberry Markets prioritises the safety of their clients’ capital.
Traders are always encouraged to conduct their own research on brokers, but can certainly see Blueberry Markets in a positive light.
As the broker has received numerous positive customer reviews, on reputable websites such as Trustpilot, combined with the above factors, Blueberry Markets can certainly be seen as a safe and reliable broker.
CONCLUSION
Blueberry Markets is a robust option for traders looking for a reliable and user-friendly online forex broker. With its competitive fees, range of trading platforms and strong regulatory framework, it offers a solid foundation for trading.
While certain aspects of the broker’s service can be improved, such as the introduction of negative balance protection and a wider range of cryptocurrencies and commodities, Blueberry Markets is certainly a top quality broker.
The broker offers in-depth research and educational tools to its traders and is known for its superb customer service offering, highlighting its commitment to its clients. Traders can have peace of mind knowing that Blueberry Markets puts its clients first.
From the research conducting in compiling this review, the team at Brokersuggest.com highly recommends Blueberry Markets to any trader looking for a broker who values its clients.