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.
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.
Blueberry Markets offer a strong range of CFD trading instruments that include commodities, indices and metals. The indices available to trade via CFDs include Australia 200 Index, Nasdaq US tech 100 Index, Dow Jones 30 Index and 7 more. There are a total of 5 different commodities and metals to trade via CFDs as well.
The trading costs are fairly straight forward at Blueberry Markets, although the cost varies from instrument to instrument. For example, at 1 lot value per pip the UK 100 Index is currently at £10 where the per pip value of the US SPX500 Index is currently $100. It will depend on the index and on the currency. The value per tick costs for all commodities and metals remains at a constant $0.1.
One thing that is constant amongst CFD trading with indices is the minimum order size which is 0.1. The same minimum order/lot size can be found for all metals and commodities as well. Aside from that, your leverage on CFD trades is capped at 30:1 in accordance with Australian trading laws.
Overall, our Blueberry Markets review was impressed by the uniform trading costs of the indices, commodities and metals on offer via CFDs. This makes your calculations a lot simpler when putting together your trade ideas. We would like to see a bit more diversity with the CFD offering though, especially in the commodities and metals on the platform.
We found over 40 different currency pairs over at Blueberry Markets Australia that included the likes of EUR/USD, AUD/CAD, AUD/NZD, GBP/USD and many more. There is a strong range of currency pairs to choose from that include your standard major and minor pairs but that also include some exciting exotics as well.
Our Blueberry Markets review found that the spreads were fairly dynamic on the platform but that for your major currency pairs the pips remained fairly consistent. The spread for AUD/NZD was 1.5 pips, EUR/GBP was 0.7 pips and AUD/USD was 0.7 pips as well. There is a detailed graphic on the Blueberry Markets platform that shows you all of the changing bid/ask prices and how this affects the current spread of each currency pair.
The maximum leverage for forex trading at Blueberry Markets actually varies depending on the currency pairs. If you are trading with major currency pairs your leverage is capped at 30:1 while minor pairs are capped at 20:1.
The range of forex currency pairs available at Blueberry Markets is strong although we would like to see a couple more exotics thrown in there. Aside from that, the average spreads were quite low which is good news for higher volume traders.
One thing we always make sure of at Wetten is whether or not a broker is fully licensed and regulated by the top financial authorities. You’ll know exactly who the Blueberry Markets is regulated by. One of our goals is to fully answer the question “is Blueberry Markets safe to use?”
One thing nobody wants to run into is a Blueberry Markets scam. That is why our Blueberry Markets review takes a closer look at the history of the broker to make sure that there has been no shady business happening on the site. You’ll be able to know for sure once you’ve read our review.
If you are a forex trading fan then you’ll want to know exactly how many different currency pairs are available to trade on the site. Our Blueberry Markets review goes into detail about the various currency pairs available on the site and what some of the average spreads are for the major and minor pairs.
Our Blueberry Markets review will give you some insight into how you can get set up on the platform. We give you all the information you need to create your account successfully with our Blueberry Markets review.
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.
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