Is Blueberry Markets Good for Day Trading?

Chriss Tucker: I agree with the author! Blueberry trading conditions are perfect for day trading. And not only that, I believe that all trading styles will suit the trading conditions offered. For example, if you are trading on a standard account and with a day trading style, of course you will open multiple positions and close them in one day. (This is called day trading).

Usually you open up to 10 positions but sometimes only 4-5 positions and target 40-50 pips to take profits. For example, if you open 10 psoition with 0.01 lot, your fix will only spread 1 pip. Because you are opening at 0.01 lot, the value of 1 pip will be 0.1$. The cost of all your transactions will be only $1. And no commissions are charged. Meanwhile, other brokers may charge you $1-$3 for 1 lot.

read all trading styles here; 4 forex trading style

The next question :
And if you are not an Australian trader, you will get different regulations, right? yes you will get regulation or term from Vanuatu regulator. That means you will get higher leverage because ASIC or Australian regulator is very strict about leverage.

Patrick: 

"there are required commissions of 7 dollars per round per standard lot. What does that mean?"

this means you will receive a commission of $3.5 per standard trade of an open lot and you will be charged $3.5 again if you close the lot. So, if you use 0.01 lots to trade, you will be charged $0.35 each time you open and an additional $0.35 each time you close that trade. That is the meaning of commission $7 per round per standard lot.

In other words, you can say this is a spread, because every time you make a trade you will have to charge these commissions, although the fees charged must be paid when you reach 1 standard trading lot.

My advice, if you are new, use Standard account first.

Bruno: How do you know that 1 pip = $1? I mean I am new here and still confused with pip value. Spreads are also always specified per broker in pips. If the commission, I understand because it is stated in dollars. But I can hardly determine the value of 1 pip.

And based on your statement, if 1 pip = $1, if the spread is floating, up to 10 pips, it becomes $10, right? It was really expensive at the time. Meanwhile, if RAW spreads, 0.01 pips, means $0.01, then I'm a beginner so choosing RAW spreads would be better, right? Or I barely choose fix spread?

Enzo: You should know, 1 pip is not always 1 dollar. I think @Bruno is wrong knowing 1 pip = $1. The pip value can be known with tick size x lot size if the currency pair is a direct pair, i.e. USD is behind the currency pairs.

Meanwhile, if the currency pair has USD in front (which is being known by indirect pair), pips can be known tick size x lot size/current rate. And if you are trading with a cross pair, the number of pips can be determined by tick size x lot size (base quote: current exchange rate). So, the conclusion is that if you are trading with different currency pairs, the number of pips will also be different.

Whereas with EUR/USD for example the standard lot has $10 for every 1 pip movement (0.001 x 100,000 units = 10) and if you trade with 0.1 lot, the pips will go down and becomes $1 per 1 pip.

So if you trade 0.1 lot in EUR/USD, the spread calculated at Blueberry is 1 pip, each time you open a position you will be charged $1.

How to reduce the value of the spread? Just minimize your trade size from 0.1 lots to 0.01 lots. (To determined spread, you can read this article : How Does Spread Affect Profit In Forex)

Darwin: No need to be confused. Imagine that ASIC and VFSC licenses are your friends' home. Your friend's ASIC has rules you must follow in his place and meanwhile your other friend's VFSC has rules you must follow if you go to his place.

Your friend, ASIC, is more strict about the rules. So you have to follow ASIC rules like don't drink, need to earlier and wake up earlier. While at VFSC, you have more free time, wake up late, late, even drink!

That's the different! ASICs are stricter in terms of rules and VFSCs are more flexible. And ASIC is for Australian Traders while VFSC is for Global Traders.

You can see the details ASIC and VFSC rules in here :

• ASIC Regulation
• VFSC Regulation

Karim: Negative balance protection is a broker's feature that prevents your trades from being less than your margin. This means you can prevent your equity from going negative or negative. This feature is very important for brokers and traders. And we as traders can avoid going into debt with the broker in trading. For more details on Negative Balance Protection, read here:

Negative Balance Protection in Forex Trading

Meanwhile, "segeragred account", as the name implies, talks about separated the trader's money from the broker's finances. This prevents the broker from using trader trading funds to their advantage. Read the segregated account details at here :

What is a Segregate Account in Forex Broker

@Dave: Why is there such a difference in processing times? That's a great question! While I don't have specific information about Blueberry Markets' internal procedures, I can speculate on a possible explanation.

Processing a withdrawal involves additional steps compared to processing a deposit. When you make a withdrawal, the broker needs to verify and authenticate the request, ensuring that it complies with relevant regulations and security measures. This verification process may require manual review and approval, especially when it comes to larger withdrawal amounts. It's possible that Blueberry Markets prioritizes thorough verification to ensure the security and integrity of their clients' funds, which could contribute to the slightly longer processing time.

It's also worth considering that the timing may depend on various external factors, such as the payment method used for the withdrawal and the corresponding financial institutions involved. Different payment providers or banks may have their own processing times, which can affect the overall withdrawal timeline.

@Gary:  I think it is all about the rules. Traders in Australia cannot use cryptocurrencies like Bitcoin or Tether to add funds to their Blueberry Markets trading accounts because there are restrictions on the use of cryptocurrencies in trading CFD in Australia. However, non-Australian residents with USD trading accounts can use cryptocurrencies through Binance, but there may still be limitations set by Blueberry Markets.

For Australian traders, there are alternative methods available to add funds to their Blueberry Markets trading accounts, such as bank transfers, credit/debit cards, and online payment systems like PayPal and Skrill. Each method has its own advantages and disadvantages. Bank transfers take longer but are usually the most straightforward, while credit/debit card deposits are instant but may come with higher fees. Online payment systems are fast and easy but also have higher fees.

@Kane: Hey, I understand your curiosity about Blueberry Markets' decision not to accept cryptocurrencies for trading. While cryptocurrencies have gained significant attention in recent years, there are several factors that might influence a broker's decision in this regard.

One of the key considerations could be regulatory compliance. The cryptocurrency landscape is still evolving, and regulatory frameworks vary across different jurisdictions. By focusing on traditional fiat currencies, brokers like Blueberry Markets can ensure they operate within established regulatory guidelines, providing a level of stability and compliance for their clients.

Transaction speed and security might also play a role. While cryptocurrencies are often associated with fast transactions, they can also be subject to volatility and potential security risks. By sticking to fiat currencies, brokers can offer a more predictable and secure trading environment for their clients.

@Mendez: Alright, here's the deal with Blueberry Markets and their separate regulatory requirements. Aussie traders, listen up! If you're based in Australia, they've got you covered with an entity licensed by the Australian Securities and Investments Commission (ASIC). That means they follow the rules and regulations set by ASIC, keeping your trading experience safe and secure within the Australian financial system.

But hold on, non-Aussie traders, don't feel left out! Blueberry Markets has got something for you too. You'll be directed to an entity regulated by the Vanuatu Financial Services Commission (VFSC). That allows them to provide their services to traders outside of Australia while playing by the rules of the jurisdiction where they're registered.

Now, let's talk about these regulators. ASIC is known for being strict and making sure traders like you are well-protected. They've got a solid reputation and enforce their regulations like a boss. On the other hand, the VFSC may be in a different jurisdiction, but they also have measures in place to keep an eye on financial services providers and keep your interests in check.

So, whether you're an Aussie trader under ASIC's watchful eye or a non-Aussie trader under VFSC's jurisdiction, Blueberry Markets has got you covered with the right regulatory oversight. It's all about keeping your funds and investments safe while making sure they play by the rules wherever you are. Stay informed, know your jurisdiction, and trade with confidence!