Blueberry Markets is good for day trading with reliable trading platform, low trading costs, and 24/7 customer support.
Blueberry Markets is an Australian-headquartered forex and CFD broker established in 2016 by Dean Hyde, a former executive of Axi Broker. The company has an increasingly noticeable presence with various offerings aimed at various types of traders.
Beginners can benefit from extensive tutorial courses and a reasonable minimum deposit requirement of just $100. There are also free forex VPS that are extremely beneficial for algorithmic traders. However, one might wonder, is Blueberry Markets good for day trading?
The short answer is yes, Blueberry Markets is good for day trading. Truthfully, Blueberry Markets is not the best forex broker out there. However, they have provided all the necessary trappings that are needed for day trading.
Blueberry Markets Brief Review
All active traders will surely look for the best day trading broker. They usually place the highest value on a reliable trading platform with advanced charting tools and speedy execution, as well as low costs and responsive customer support. Additionally, day traders may seek a broker that provides a wider range of markets in order to gain more opportunities.
It may appear that dependability and low cost are incompatible, but Blueberry Markets managed to strike a balance between the two. Day traders will mainly benefit from Blueberry Markets thanks to the following features:
- Low deposit requirements of only $100 for both Standard and Direct accounts.
- Raw spreads start at 0.0 pips on Direct account, with a commission fee of $7 per round turn per standard lot. Otherwise, traders can choose Standard account with spreads starting at 1.0 pip and a zero commission fee.
- 300+ tradable instruments, including equities, indices, commodities, and currency pairs.
- Minimum trade size of 0.01.
- Maximum trade volume of 40 lots.
- Maximum leverages up to 1:30 (ASIC-licensed entity) or 1:500 (VFSC-licensed entity).
- Two popular trading platform options: MetaTrader 4 and MetaTrader 5 for Web, Desktop, and Mobile.
- All types of trading strategies are allowed, including scalping.
- Various contacts are available for traders 24/7, including email, phone calls, a clear business address, Facebook Messenger, Whatsapp, Apple iMessage, Telegram, Viber, LINE, and live chat.
So, are you interested in day trading with Blueberry Markets?
Australian-based traders will be registered with an entity licensed under the Australian Securities and Investments Commission (ASIC), while non-Australian traders will be directed to another entity under the Vanuatu Financial Services Commission (VFSC). Both entities offer a similar trading environment with the exception of leverage. Do consider this point before you register with Blueberry Markets.
Blueberry Markets Specifications
FAQ About Blueberry Markets
- Is Blueberry Markets Safe?
Yes, Blueberry Markets is a secure and legal online brokerage that offers negative balance protection, segregated accounts, and two-factor authentication (2FA) logins. In general, customer testimonials tend to be neutral-to-good.
- What are the deposit and withdrawal methods available in Blueberry Markets?
Blueberry Markets accepts credit cards (VISA & MasterCard), electronic payment gateways (Skrill, Neteller, FasaPay, Perfect Money, etc), crypto, and bank transfers. However, availability depends on the traders' jurisdiction. Check your own Client Portal to see which option is available to you.
- Do Blueberry Markets accept crypto?
Non-Australian residents with USD trading accounts can add funds using Bitcoin (BTC) or Tether (USDT) through Binance. They will be converted to USD according to the live exchange rate at the time of the transaction.
- What are the rules for withdrawal in Blueberry Markets?
Blueberry Markets allow withdrawals with a minimum of $50 through all payment methods. Fees vary depending on your chosen payment method. All withdrawals will be processed within 24 hours, and processing time will not exceed 7 business days.
- How do I open an account at Blueberry Markets?
Registration can be easily done through Blueberry Markets' official website. See the following article for detailed instructions.
Blueberry Markets is an Australia-based brokerage company that provides superior platforms, ultra-tight spreads, and a demonstrated commitment to support clients 24/7. It was apparently founded in 2016 by Former AxiTrader executive Dean Hyde who wanted to focus on low spreads and high-level client service.
Feb 1 2023
sorry, i'm new to trading and don't know what trading day it is? But I still find it interesting to start learning Forex at Blueberry if I feel suit it. Before deciding, I have a few questions and the main question is on what basis does the author claim that blueberries are good for day trading? All I know about trading is entering the trade, waiting for the right price to take a profit, right?
And if you are not an Australian trader you will get different regulation, right? What is the different with Australia regulation? Thanks, and sorry if I'm asking too much as I'm really confused about those two things.
Feb 1 2023
Chriss Tucker: I agree with the author! Blueberry trading conditions are perfect for day trading. And not only that, I believe that all trading styles will suit the trading conditions offered. For example, if you are trading on a standard account and with a day trading style, of course you will open multiple positions and close them in one day. (This is called day trading).
Usually you open up to 10 positions but sometimes only 4-5 positions and target 40-50 pips to take profits. For example, if you open 10 psoition with 0.01 lot, your fix will only spread 1 pip. Because you are opening at 0.01 lot, the value of 1 pip will be 0.1$. 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.
Feb 1 2023
So, there are two types of fees I choose to trade at Blueberry, right? Raw or fixed spreads. and what makes Blueberry interesting is that there are only 2 accounts you can choose from, and I think this will make it easier for traders like me to decide which one is best for them. Use a Standard account or a Live account. And not like other brokers that have many kinds of accounts that make me confuse to choose.
By the way, in the Live account, there are required commissions of 7 dollars per round per standard lot. What does that mean?
Feb 1 2023
"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.
Feb 1 2023
I first learned about Blueberry in this article. I mean, I have to admit that Blueberry's trading conditions are so simple that even novice traders will know how to choose the right account for them. So by negotiating with them, you won't be bothered by the fees. If you don't want commissions, just choose a standard account. If you need raw spreads, just choose Live Account. It's as simple as that and doesn't require any consideration.
Meanwhile, the trade conditions offered are really competitive. I mean, you can even scalp on the standard account as it doesn't charge commission and starts pips at $1 (I bet EUR/USD = 1 pip). Or you can even safely trade with the swing trading method with very low spread and no commission.
Feb 8 2023
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?
Feb 8 2023
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)
Feb 8 2023
I'm a bit confused here. There are two levers in Blueberry; first: 1: 30 and 1:500. I mean, can we choose our own leverage? I mean what is the difference between ASIC Leverage and VFSC leverage? And why licensees in Blueberry must have two. If the broker only allows one person, that means the broker is regulated, right?
By the way, what is ASIC and what is VFSC? Sorry for asking too much as I am really a beginner and I need to choose a broker carefully because I am afraid of being scammed.
Feb 8 2023
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 :
Feb 8 2023
First, I need to appreciated Blueberry security, the broker applied two-factor authentication (2FA) in Blueberry. It means, when you login you need to enter password and after that you need to enter the code that sent to your email or your phone. It is very complicated to login but the security is guaranteed.
Meanwhile the article said, the other factors make blueberry is secure are negative balance protection and segregated accounts. What are these by the way? Is it needed and must broker or not? Thank You!
Feb 8 2023
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