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One of the advantages of trading with Blueberry Markets is the easy account opening. Read this guide to find out how to do it.
Forex trading offers an opportunity to earn considerable returns both in the short and long term. It is undoubtedly a tempting offer for those who just hear about it for the first time. There are many factors that play a role in your trading success, such as your trading knowledge, the tools that you use, and your emotional control.
Another thing you need is a good forex broker. Thankfully, opening a brokerage account is very easy these days. There are many brokers that you can choose from, but today we're going to be focusing on Blueberry Markets. Here's a brief introduction to get you started.
Contents
Introduction to Blueberry Markets
Blueberry Markets is an Australian-based broker that was founded in 2016 by a former Axitrader executive, Dean Hyde. While the company is considered relatively new compared to other leading brokers, it has had quite an impressive journey so far. Blueberry Markets have gained over 30,000 traders worldwide and has been named one of the most trusted brokers in Australia. The broker has also gained a regulatory license from Australia's top regulator, ASIC, and VFSC of Vanuatu.
Blueberry Markets offers more than 300 tradable products, including forex pairs, share CFDs, crypto CFDs, commodities, metals, and indices. Compared to other brokers, Blueberry Markets has quite low spreads starting from 0 pips and maximum leverage of 1:500. Moreover, the broker provides access to a bunch of handy analytical tools as well as various educational resources suitable for traders across all levels of expertise.
Preparation Before Opening an Account
As a regulated broker, Blueberry Markets must comply with the rules imposed by the financial regulators. This includes implementing the Know Your Client (KYC) procedure for all users.
When opening an account, you'll need to provide a digital copy of valid government-issued documents according to the broker's terms. Make sure that the documents are correct and accurately show the required information. The document verification process may take a few hours to a couple of business days. Until then, you can only access the broker's services in a demo account.
At Blueberry Markets, there are two types of documents that you should provide to open an individual account, namely:
Government ID and Passport Guidelines
To confirm your identity, you'll need to submit your Government ID and Passport according to the following guidelines:
- The document must be an image file type (JPG, PNG, etc) and captured using a digital or phone camera. Scanned images are not accepted.
- The document must be valid (not expired).
- All four corners of the document must be visible.
- The texts must be clearly shown.
- The photo must be of good quality with no glare or obstruction.
- The ID must be a plastic PVC card.
- The digital image must be multi-colored.
- The front and back of the document must be provided.
- The machine-readable code at the bottom of the passport must be visible.
Proof of Address
To confirm your address, you'll need to provide one of the following documents:
- Bank or Credit Card Statement
- Utility Bills
- Additional ID Card that shows your address
If you are unable to provide any of the documents above, you may submit your National ID that shows your residential address. Moreover, here are the guidelines for the Proof of Address:
- The document can be in a soft copy (PDF copy of the digital document) or hard copy format (a photo capture of the physical document). Make sure that the PDF is not password-protected.
- The document must be in English. If not, you may need it to be translated by a licensed language translator.
- The document must show the same name and address provided in the registration form. PO Box is not accepted.
- The document must be issued within the last three months (90 days).
- The document must show the issuer's logo.
- All four corners must be visible.
- The document must be of good quality with no glare or obstruction.
Steps to Open an Account in Blueberry Markets
The process of opening an account in Blueberry Markets is simple and can be done entirely online. But before we proceed further, it's important to know that you need to be 18 or older to be able to apply. If you are eligible, follow these steps to start the registration process:
1. Head over to Blueberry Market's official website and click "Create Live Account" or "Start Trading" as shown below.
2. You'll open a new pop-up where you can fill in your details such as your country of residence, first name, last name, and email. Then, create a password for your Client Portal and enter your active phone number. Click "Create Account" to proceed to the next step.
3. Under the "Account Requirements" section, you'll need to specify some details about your Blueberry Markets account, including the account's type, base currency, leverage amount, and nature of account. To continue, click "Next Step".
4. On the next page, you'll be asked to provide more information about yourself, particularly your contact information and address. All fields marked must be filled. When you're done, click "Next Step".
5. Answer some questions regarding your financial condition and trading experience. Please answer truthfully as the data will be used to identify what type of trader you are. This will also give Blueberry markets a better understanding of what they can offer you and which service might suit you best. Click the "Next Step" button once you're done.
6. This step requires you to download and read three documents provided by the broker. In these documents, you will find all information you need regarding the broker and how they work. If you accept the terms and conditions, tick the box on the right side and click "Next Step".
7. Once the registration form is all filled up, you'll need to upload some documents for the verification process. As mentioned in the previous section, you'll need to provide Proof of Identity and Proof of Residence. Simply click "Choose Document" to upload the files and click "Next Step.
8. After that, the only thing left is to wait for Blueberry Markets to verify your documents. You will get a confirmation email once your account is fully verified. In the meantime, you can download the trading platform of your choice on your device or try demo trading.
9. Please regularly check your inbox for the confirmation email and don't forget to check the spam box as well. The confirmation email contains your trading account credentials and Blueberry Markets Client Portal details.
The trading account credentials are used to open your trading account on the trading platform, while the Client Portal details are used to log in to your trader room where you can manage your account, like making deposits and withdrawals.
10. At this point, your account has technically been created, but to activate it, you'll need to start funding your account. There are several payment methods that you can choose from, such as Bank Transfer, Credit Card, China Union Pay, Cryptocurrency, Dragonpay, FASA, Neteller, Paytrust, Perfect Money, Poli, Skrill, STICPAY, and THB QR Payment. Keep in mind that some methods are only available in certain countries.
End Thoughts
Setting up a new live trading account at Blueberry Markets is very easy and fully online. The registration and verification process may take only several minutes to complete unless your documents are invalid or further information is required.
The broker even allows you to open no less than 10 live trading accounts, but each will require document verification and separate approval. If you happen to find any issue with the account opening process, simply reach out to customer support via email or live chat.
Blueberry Markets is an Australia-based brokerage company that provides superior platforms, ultra-tight spreads, and a demonstrated commitment to support clients 24/7. It was apparently founded in 2016 by Former AxiTrader executive Dean Hyde who wanted to focus on low spreads and high-level client service.
21 Comments
Josh Dunvell
Jan 1 2023
Does Blueberry Markets operate outside of Australia?
Van de Beek
Jan 25 2023
Josh Dunvell: It also operates in the Bahamas and has offices there as well. But unfortunately they only have two offices, in Australia and the Bahamas, where they operate in these two countries only. But indeed the broker accept all clients around the world.
Don't worry about Bluberry since it is regulated by ASIC which has very strict rule and penalties to their brokers if they break the rule. It is the prove that the broker is regulated and have strict rule.
Harry
Jun 28 2023
@Josh Dunvell: Yes, Blueberry Markets operates outside of Australia. While the broker is based in Australia and regulated by the Australian Securities and Investments Commission (ASIC), they have expanded their services to cater to clients from various countries worldwide. This allows traders from different regions to access and trade on the Blueberry Markets platform.
By extending their reach beyond Australia, Blueberry Markets aims to provide a global trading experience and accommodate clients from different parts of the world. They have established a strong international presence and offer their services to traders in multiple countries, ensuring a wider client base and access to global financial markets.
Antonio
Jun 29 2023
@Josh Dunvell: Absolutely! Blueberry Markets doesn't limit its services to Australia alone. They operate outside of Australia as well, catering to traders from different parts of the world. While they are based in Australia and regulated by ASIC, they have expanded their reach to offer their trading services globally. So, if you're located outside of Australia and interested in trading with Blueberry Markets, you should be able to access their platform and enjoy their offerings. However, it's always a good idea to double-check their availability and regulatory status in your specific region, as regulations may vary. You can reach out to Blueberry Markets directly to get the most up-to-date and accurate information regarding their operations in your country.
Tinna Walton
Jan 9 2023
What is the minimum deposit to activate a Standard Account?
Johny Walkins
Jan 25 2023
Tinna Walton: For the standard account at BlueberyStandard requires a minimum deposit of $200 and a minimum lot size of 0.01. To provide traders with the best rates, this account type uses variable spreads. Overall, the account offers a wide range of tools, such as trailing stops, pending orders, one-click trading, browser-based platform and API trading. However, you do not have an Expert Advisor or scalping strategy options.
If you want to use EA or Scalping, you need to open raw spread account and also the minimum deposit that required is also $200. And for RAW Spread account, you will have an access to trade with mobile trading too.
Daniel Redd
Jan 20 2023
Why has my deposit been rejected?
Leo Ashley
Jan 25 2023
Daniel Redd: Did you receive a notification that your deposit was failed? Check the notification first, then check the reason for the failed deposit. There are many possible deposit denials. You may have ed the wrong bank, entered the wrong virtual account number, or your broker did not accept the deposit because the system of broker's error.
Don't be panicked. Based on my experience, the failed deposits money are usually returned to your bank account within a few days, but it may take 3-4 days depending on your bank. However, if you still have not received your refund, please contact customer service. However, I strongly recommend contacting customer support first after confirming the reason for the failure. Because they can help you to confirm that your deposit is failed and can help you to track your money if posibble.
John Den
Jan 25 2023
Uh... I think I'll rethink again to do the trade with the Blueberry Market. I mean it is very difficult to prepare all the documents. ok if you are Australian, you can prepare documents easier as you just need to present proof of address like another ID that show your address like driver license or just prepare utility bill. Those who do not have a credit/debit bank can be helped by that.
BUT, for outside sellers, it looks like you have to go through the hard process as I believe blueberry won't accept proof of address that need to be in PDF in a non-English language. I mean, c'mon, some trader will hard prepare that, the registration become more complicated. Because the whole difficult process must be in English and must be in PDF and must be translate into English with licensed language translator (to use their service, you need to pay dude). It will be more difficult to register than other brokers and also expensive!
Alfonso
Jan 25 2023
John Den: According to the Blueberry's website, the blueberry market accepts all customers from all over the world, with the exception of Japan and the United States traders. After researching why, it turns out because Blueberry's terms of business are not suit with Japanese and US financial regulators. In this case if you are not Japan and US Residence, all you have to do if you are not Australian is proof of address, just like the steps in the article.
I think the difficulty method you mentioned is for the non-resident trader. So, they have to prove their identity and among other things to prepare, with these documents, Blueberry can confirm that the traders are real and not using fake identities. So, proof of address that requires such a lot of documentation is hardly for the non-resident trader, but for sellers outside of Australia that have permanent address, it can still be proved by credit/debit card and all the steps are described in the article. Hope you understand, thank you!
Bernard
Feb 4 2023
Can I deposit through a third-party?
Dovahkin
Feb 11 2023
Bernard:
What third party method do you want to deposit with? From the information on the official page, you can deposit via a third party, but there is an additional fee that will be charged by the third party.
As an example: Bank transfers, paypal, crypto coins, and neteller, giving a statement that third party fees may apply. (Special note for Neteller, you can ask for a reimbursement)
Meanwhile, credit/debit cards, PoliPay, BPay, DragonPay, and Fasapay method claimed to be free of additional fees.
You can read the full article here: Guide to Blueberry Markets Deposits and Withdrawals
Aman Khan
Feb 8 2023
Is it possible to open account with my iPhone?
Sofiya
Feb 11 2023
Aman Khan:
Yes, you can open a forex trading account using your iPhone. Blueberry Market offer mobile trading platforms that are compatible with the iPhone.
You can download the broker's app from the App Store and use it to open a trading account, deposit funds, and trade currencies on the go.
Keep in mind that you'll need to have a stable internet connection to trade effectively, and there's some additional requirement for opening an account on mobile, such as verifying your identity.
In addition, do take notes that you can't trade through metatrader, since MT4 and MT5 applications were taken down from the iOS App Store on September 23rd, 2022.
Read the information here:
Sofiya
Feb 11 2023
Aman Khan:
Yes, you can open a forex trading account using your iPhone. Blueberry Market offer mobile trading platforms that are compatible with the iPhone.
You can download the broker's app from the App Store and use it to open a trading account, deposit funds, and trade currencies on the go.
Keep in mind that you'll need to have a stable internet connection to trade effectively, and there's some additional requirement for opening an account on mobile, such as verifying your identity.
In addition, do take notes that you can't trade through metatrader, since MT4 and MT5 applications were taken down from the iOS App Store on September 23rd, 2022.
Read the information here:
James Y.
Mar 24 2023
Why it takes so many verifications and steps just to open an account here? This broker is offshore, right? The last offshore brokers I trade with is way way way simpler than this. So what makes trading with blueberry and all its intricacies worth my time?
Henry Duville
Mar 24 2023
@James Y. :
The reason why Blueberry Markets requires several verification steps to open an account is because the broker is regulated by the Australian Securities and Investments Commission (ASIC). ASIC is a reputable regulatory body that requires brokers to comply with strict rules and regulations to ensure the safety and security of client funds.
To comply with these regulations, Blueberry Markets must verify the identity and personal information of its clients through a Know Your Customer (KYC) process. This involves providing various documents such as a government-issued ID, a proof of address, and a signed declaration form.
While this process may seem time-consuming, it is necessary to ensure the safety and security of clients' funds and to prevent fraud and money laundering. Furthermore, the regulatory requirements help to establish the broker's credibility and reliability in the market.
Regarding the offshore broker you previously traded with, it is possible that they were operating under less stringent regulatory requirements, which may have made the account opening process simpler. However, it is important to note that trading with an unregulated or lightly regulated broker carries a higher level of risk as there is less protection for traders in the event of a dispute or insolvency (it means, you're running a risk that you might not get reimbursements when you have issues with the brokers, even though you're not directly responsible for the loss)
In summary, while the account opening process with Blueberry Markets may seem lengthy, it is necessary to ensure regulatory compliance and client safety. The broker's regulation and security measures may make trading with Blueberry Markets worth your time, especially if you prioritize safety and reliability in your trading activities.
Nameer
Mar 24 2023
Just curious, if I made up some data during verification process (just a bit of tiny details, not too critical), will I get penalties later on? FYI, the account is up and running, I'm just curious if it will bite my when I least expect it
Henry Duville
Mar 24 2023
Nameer:
Falsifying data during the verification process with Blueberry Markets or any other regulated broker can have serious consequences. If you are caught falsifying information, your account may be closed, and you may be banned from using the platform. Additionally, depending on the severity of the falsification, you may face legal consequences and penalties.
Regulated brokers are required to comply with strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, which require them to verify the identity and personal information of their clients. These regulations are put in place to prevent fraud, money laundering, and other illegal activities.
If you provide false information during the verification process, it can compromise the integrity of the broker's compliance program and put them at risk of regulatory sanctions. This can result in serious consequences for the broker and its clients, including frozen accounts, financial penalties, and reputational damage.
Therefore, it is essential to provide accurate and truthful information during the verification process with Blueberry Markets or any other regulated broker. If you have made a mistake or provided incorrect information, it's important to contact the broker immediately and provide the correct information to avoid any penalties or consequences in the future.
Kelly
Feb 26 2024
Hey, I noticed that Blueberry Markets, being a regulated broker, has to follow the rules set by financial regulators. One of those rules involves carrying out the Know Your Client (KYC) procedure for all users.
I'm curious about the KYC process and why it's such a big deal in the financial industry. It seems like KYC is required everywhere, whether it's in forex trading or banking. So, why exactly is KYC so crucial and why do all financial institutions have to do it? Thanks!
Sammy
Feb 28 2024
Hey there! Let me explain to you about the KYC. So, short for Know Your Client, is a critical process in the financial industry for several reasons. Firstly, it helps financial institutions verify the identity of their clients to prevent fraud, money laundering, and other illicit activities. By gathering information about clients' identities, financial institutions can ensure they are not unknowingly facilitating criminal behavior.
Secondly, KYC helps institutions assess the risk associated with each client. Understanding the background and financial activities of clients allows institutions to tailor their services and mitigate potential risks effectively.
Furthermore, KYC is often required by regulatory authorities as part of compliance obligations. Financial institutions must adhere to regulatory standards to maintain their licenses and uphold the integrity of the financial system. Non-compliance with KYC regulations can result in severe penalties, including fines and loss of reputation. (you can read more about KYC here : Is KYC Important in Forex Trading?)