Blueberry Markets has become a very popular broker among traders due to low trading costs and 24/7 customer support.
They offer trading in FX and CFDs (stocks, indices, cryptos, and commodities) through MetaTrader 4/5.
In this Blueberry Markets review, we will cover most aspects of the broker, including our experience.
|💰Base currencies||USD, EUR, GBP, NZD, AUD, SGD, CAD|
|🔑Type of broker||No Dealing Desk (NDD)|
Pros & Cons
- X500 leverage
- 24/7 customer support
- Spreads from 0.1
- No dealing desk
- Fast execution
- MT4 and MT5
- Free VPS
- No EU or FCA regulation
- cTrader not offered
- High spread on NOK-pairs
If you are based in Australia and prefer to trade forex with MT4 or MT5, then we don’t find any disadvantages.
To open an account you simply need to submit your personal details and documents that verify your identity and address.
Step 1: Sign up via the account creation form
Step 2: Upload required documents and get verified
Steg 3: Deposit (min. $100) and trade
Regulation & Security
Blueberry Markets are regulated by the Australian Securities and Investments Commission (ASIC) and the Securities Commission of the Bahamas (SCB).
Traders based in Australia get regulated under ASIC, while non-Australian clients get regulated under SCB.
Deposit from clients is placed in segregated bank accounts regardless of regulation.
Blueberry Markets offers negative balance protection for all clients.
The maximum leverage will depend on whether you are an Australian-based trader or not.
Max leverage: 1:500
Max leverage (Australia): 1:30
Please note that some Australian clients can apply to become a “Wholesale Client” which means access to higher leverage.
Blueberry Markets offers both MetaTrader 4, MetaTrader 5, and WebTrader.
Both MT4 and MT5 are available on IOS and Android.
Blueberry Markets offers two account types: Standard and Direct. The only major difference is the fee structure.
The minimum deposit is $100 for both accounts and the minimum lot size is 0,01 lots (1000 units).
A Standard account is commission-free and offers spreads from 1 pip.
A Direct account has interbank spreads from 0.0 pips, but you must pay a small commission of $7 per $100,000 ($3,5 per side).
If you open a position worth 0,5 lots, then the total commission will be $3,5 and so on.
The Premium account is aimed towards high-volume traders and offers tailored pricing, spreads, and commissions.
Other benefits include:
- Priority support 24/7
- Priority withdrawal
- Advanced Market Insights
In order to become a Premium client with Blueberry Markets, you must cross a volume threshold as described below.
Customer support is available 24/7 via LiveChat, telephone, or email.
They are super-fast, efficient, and highly competent.
When writing this review, we tested the live chat with some very technical questions, and they got answered within 30 seconds!
Deposit & Withdrawal
All major payment providers are supported such as VISA, Mastercard, Skrill, Neteller, and PayPal.
Bigger deposits can go through traditional bank-to-bank transfers.
You can even deposit using cryptocurrencies such as Bitcoin (BTC) and Tether (USDT).
Please note that crypto deposits are only available for clients outside Australia.
Withdrawals are processed within 24-hours and there are no fees for withdrawal.
Blueberry Markets are highly rated by traders from all around the world.
They are rated five stars at Trustpilot, Google Business, and Forex Peace Army.
- Over 2,750 five star reviews
- One-to-one support for all clients – demo or live
- Finalist for Finder’s Best Online customer Service award in 2020 and 2021
- Respond in under 5 seconds on live chat
- Online 24/7 support
Given that forex brokers usually get a lot of negative reviews, we find these ratings really impressive.
Our experience with Blueberry Markets has been extremely good so far.
We signed up, verified our account, and made a deposit – without any hassle.
When trading (FX), we had low spreads (Standard Account) and experienced no slippage or requotes.
After trading for a week, we requested a withdrawal and our money was in our account in less than 48 hours.
Blueberry Markets was founded by Dan Hyde, a former Axi-Trader executive. His vision was to launch a forex broker who was known for low spreads and a high level of client service.
Since then, Blueberry Markets has grown to over 30,000 traders.
Blueberry Markets applies ECN-pricing with no dealing desk. No manual intervention takes place at any time.
They earn money through spreads and commissions (if applicable).
Conclusion & Verdict
After testing out Blueberry Markets for ourselves, we can honestly say we are impressed.
If you only trade forex using MetaTrader 4/5, then you should definitely test out Blueberry Markets.
The only negative is limited regulation for EU-based traders who prefer a local regulator and no cTrader offering.