Blueberry Markets Review Australia & Test 2021
Is Blueberry Markets Safe Or Scam?
Blueberry Markets Australia has not only designed a platform that is seamless and a breeze to navigate but they have also put together an offering of diverse trading instruments that will be sure to impress you.
Our Blueberry markets review Australia covers everything you need to know about the broker such as their diverse range of 40+ currency pairs, their two different account types and their range of payment methods. Check out the rest of our review to see what else you need to know about this exciting online brokerage firm.
At the time of writing our Blueberry Markets review, we could not find anything in the way of a new customer offer on the site. To be honest, this is not a major surprise as most brokers tend to steer clear of these kinds of offers as we saw in our TradeDirect365 review.
While there may not be a new customer offer, users can create their account on the site with relative ease. All you’ll need to do is provide Blueberry Markets Australia with some personal information (email, name, password etc.), answer a few questions to see how experienced a trader you are and provide a copy of one of your identification documents (driver’s license, passport or standard I.D.).
You will also need to send through a copy of your utility bill or a bank statement to provide proof of residence. If you already had this information on hand, you can be trading on Blueberry Markets within the same day.
The Blueberry Markets site is incredibly easy to navigate. There are five tabs at the top of the homepage where you can find just about everything that the broker has to offer. You can also easily find your way to the support section should you need any additional help finding something on the site. Overall, the design is slick and well laid out. There are no glaring eyesores either so the site is easy to look at.
As far as accessing the site via mobile, we find the mobile version of the site to be fairly decent. It had all the same features as the desktop version of the site but didn’t run quite as smoothly. All things considered, we found the performance of both versions of the site to be smooth, easy to navigate and easy to use.
You will have two different account options when signing up to Blueberry Markets. Each of these offers users something different but both are suitable for carrying out your trading strategies on the platform.
The first account option is the Blueberry Markets Standard account. With the Blueberry Markets Standard account, traders can access average spreads starting from 1 pip. The most important part of this account option is that your commission is built into the spread. So if your trade moves into a profitable position, you are making money from there onwards. No calculations needed. The Blueberry Markets Standard account gives you access to over 300 tradable instruments and offers you the option to use either MetaTrader 4 or MetaTrader 5.
The next account option is the Blueberry Markets Direct account. With the Direct account, you are accessing a raw market spread. This means that your fees are more transparent and instead of being built into the spread, are charged at the end of each trade. The commission is $7 for a round trip trade on a single lot. You can access spreads from 0 pips.
The only real difference in these accounts is simplicity. Newer traders don’t need to worry about additional costs because they are already built into the spread. Active traders may prefer to see exactly what the original spread looked like which is why they would prefer to access the raw market data. Aside from that, both accounts have equal access to trading instruments, trading platforms and both have the same leverage and deposit minimum.
Fees – no inactivity fee to speak of
Our Blueberry Markets review Australia found that the fees on the site were variable depending on the account you decided to go with. Standard account users won’t need to pay a commission fee as they are already built into their spreads. Direct account users will have to pay a $7 round trip commission fee on a single lot.
Apart from the individual account fees, our Blueberry Markets review Australia found that the average spreads for currency pairs were quite low on the site. For example, we found that AUD/USD was 0.7 pips, EUR/AUD was 1.2 pips and GBP/AUD was 2.4 pips. You can check out a list of the spreads and rates on the Blueberry Markets Australia platform as they have a detailed table with all the data.
Our Blueberry Markets couldn’t seem to find any inactivity fees on the site which is a big positive. If you want to know more about the detailed account fees at Blueberry Markets Australia simply check out their in-depth FAQs section. We will touch on some of the deposit fees on the site later in our Blueberry Markets review. Check out our TradeStation review or our City Index review to compare fees with Blueberry Markets.
Our Blueberry Markets review found that the broker currently makes two different trading platforms available on the site. Users can choose between MetaTrader 4 and MetaTrader 5, both of which are industry-leading platforms.
MetaTrader 4 is exceptionally flexible in its capabilities, making executing trades all too easy. Users can make use of the host of different trading instruments on Blueberry Markets all while using the powerful charting tools and expert advisors of MetaTrader 4. The platform is wholly customizable as well, so you can tailor your trading experience to your preferences.
MetaTrader 5 comes with all the same bells and whistles that MetaTrader 4 does but with a few key differences. Users are treated to faster processing times and the ability to hedge their positions with MT5. Furthermore, you’ll have access to 38 technical indicators, 44 analytical objects and 6 pending order types which give you more buy and sell flexibility.
If you are already familiar with MT4, then you have a major reason to change what you know. This is why so many people have stuck with this industry favourite platform. However, MT5 is equally as good and offers you a little more edge to your trains capabilities. MT5 is arguably a little more suited to advanced traders. Check out our Vantage FX review to see what other trading platforms are out there.
Blueberry Markets Australia allows traders on the site to make deposits and withdrawals using a number of different payment methods. At the time of writing our Blueberry Markets review, we found that you could make your deposits using credit/debit card, bank/wire transfer, Skrill, Poli, China UnionPay (CUP) Fasapay. No matter what account you have decided to go with, your minimum deposit is $100.
The only payment fee for making a deposit that we could find with our Blueberry Markets review was a 3% – 4% fee for using Skrill and a 0.5% fee for using Fasapay. Aside from that, there are no other deposit fees to concern yourself with. Your deposits will be processed within 24 – hours according to Blueberry Markets Australia but deposits via Skrill and credit/debit cards are usually instant.
We would like to see a little more transparency on the site about making withdrawals as the only information we could find with our Blueberry Markets review was that withdrawals are processed within 24 – hours and that there are no fees. That is all good news, but we’d like to know more about the actual withdrawal options available.
Our Blueberry Markets review found a few ways for you to get into contact with the customer support team on the site. These methods include a live chat feature, contacting them via telephone or sending an email.
The response times vary somewhat. The live chat feature is undoubtedly the quickest way for you to contact the support team as you will typically be responded to within a couple of minutes at most. Phone calls are fairly swift as well although you may be put on hold if the lines are congested. Emails may take a couple of hours for a response from the support team.
Our Blueberry Markets review Australia was impressed with the level of professionalism shown by the support team. Not only were they quick to answer our questions but they were polite and patient with us as well. Our Blueberry Markets ranking was certainly influenced by the level of care shown by the broker’s customer support team.
An important aspect of our Blueberry Markets review is to make sure that the broker is regulated by official financial authorities. After scouring the platform we found that the broker is regulated by the Australian Securities and Investments Commission. This is a great indicator that there is no Blueberry Markets scam happening.
If you were still asking yourself the question “is Blueberry Markets safe?” we can inform you with confidence that it is. All user funds are kept in a separate trust account. This is done so that under no circumstance will users’ funds ever be used to cover the debts of Blueberry Markets.
That brings us to the end of our Blueberry Markets review Australia. The more we reviewed the available trading instruments, platforms and other features on the account the easier it was for us to give such a high Blueberry Markets rating on our site. The broker offers everything you might need for CFD and forex trading.
If for whatever reason you weren’t quite as taken with Blueberry Markets Australia as we were, then we suggest taking a look at our FXCM review and our Oanda review to find a suitable alternative broker.