RECOMMENDED FOREX BROKERS
Blueberry Markets flows evenly with what is has to offer. The website is not clustered with too much information, which is understandable seeing as there isn’t an abundance of features at traders’ disposal. In the case of Blueberry Markets, can less be more? Read down below to find out.
The Australian based Blueberry Markets Group goes under the trading name of Eightcap Pty Ltd. The company is regulated by ASIC, or the Australian Securities and Investments Commission. This regulatory body acts directly in favor of the traders of Australia, helping them bypass any irregularities and malpractices. This does not exclude non-Australian traders to use Blueberry Markets. Nonetheless, ASIC doesn’t not include a client reimbursement policy.
Blueberry Markets employs segregated trust accounts. Traders’ money is kept within the National Australia Bank (NAB), under a segregated trust account, keeping both parties’ (broker and trader) money apart for safe and regulatory reasons.
As a non-EU broker, Blueberry Markets is not within the reach of ESMA, and offers a maximum leverage of 1:500. Expect and average spread of 1.2-1.5 pips for EUR/USD.
As far as assets go, the broker has 54 in total tradeable instruments: currency pairs, exotic pairs, indices, metals and oils. Some might deem this not enough in today’s fast paced world of Forex. Compare Blueberry Markets to other brokers that offer substantially more tradeable assets, like HF Markets or Plus500.
The services of Blueberry Markets can be used in 4 languages: English, Spanish, Polish and Chinese.
BLUEBERRY MARKETS LOGIN
MetaTrader 4 is the sole trading platform that is on offer. Although MT4 is by far the best platform out there, the addition of others would have been welcomed.
As the world’s top platform for trade MT4’s inclusion is not surprising. The platform offers some, by now, essential tools for every trader if he or she wishes to survive today’s online trading industry: Expert Advisors, plenty of technical analysis tools, fast execution speeds, customizable trading indicators and more.
The broker has on offer two types of account for its clientele. The Standard account spread start from 1.0 pips- for EUR/USD it’s 1.2-15 pips-, and 1:500 maximum leverage. The Professional account spreads go as low as 0.2 pips, and their highest leverage is 1:500, but comes with a commission of $7 roundturn. So in reality Pro account holders cost of trading shifts from 0.2 to 0.9 pips.
Another addition to Blueberry Markets is the inclusion of Virtual Private Server. Using Blueberry Markets Free Forex VPS allows for automated trades to be execute away from the screen, 24/7. The virtual private server will run your trading platform while you sleep, perform other activities away from the trading terminal, or if an issue arises that would otherwise cease the trading process.
MT4 is available for Windows, iOS, and Android. The inclusion of a Web version is not implied.
BLUEBERRY MARKETS MINIMUM DEPOSIT
The minimum deposit with the Standard account is $100, while if a Professional account is chosen then a minimum of $2000 is required to start trading.
To fund one’s account a client can use a range of optimal methods: Credit Card, Debit Card Bank/WireTransfer, Skrill, Poli Payment, China UnionPay (CUP), Fasapay.
All deposited funds can be converted in the following Blueberry Markets accepted currencies: AUD, USD, CAD, GBP, NZD, EUR, SGD.
Blueberry Markets does not indicate the deposit processing time. We proceeded to contact support. The following was issued by a support representative. All credit card and PoliPayment funds are instant. Skrill and FasaPay usually takes up to 1 day, while Wire Transfer can take anything from 1-3 days.
Funding fees are applicable for 3 deposit methods. If you chose to use Skrill then don’t be surprised by the 3-4% fee imposed, while FasaPay deposits are charged with the insignificant 0.5%. Wire transfers may be eligible for charges if the Bank(s) handling the transaction have a fee policy separate from that of Blueberry Markets Group.
BLUEBERRY MARKETS WITHDRAWAL TIME AND FEES
The withdrawal procedures are very straightforward at Blueberry Markets, which is a breath of fresh air to those used to the somewhat chaotic withdrawal conditions on other broker websites.
Since there are no directly indicated withdrawal methods we must assume that they are identical to the funding methods.
A withdrawal processed with Blueberry Markets takes up to 1 business day for all payment methods. However, it may take several days for the amount to reach your account, as per payment systems.
Going with the above said, withdrawals at Blueberry Markets are free of charge.
The same goes for inactive account fees, which in Blueberry Markets are nullified for the sake of unavailable traders.
When compared to other, more prominent brokers Blueberry Markets is obviously lacking in certain qualities such as a solid number of assets to trade with, more platform and payment method variety.
The company, for us, is still in its green years, yet it achieves its endeavors and offers some not so common grounds for trading. Most notable are the stress free withdrawal methods.
With that said, we can’t seem to distance ourselves from the feeling that this particular broker is unintentionally aimed at up-and-coming traders.