Please note: with our review of blueberry markets, we used standard account, testing the functionality of the desktop version of the broker platform (metatrader 5), the mobile app, and the website. We created a live account with blueberry markets pty, which is the registered business name of eightcap pty ltd. In other words, blueberry serves as the white label for eightcap. Data was collected between the 25th and 26th of april.
The big picture
For more than six years, blueberry markets has become one of australia’s most popular brokers, with over 30,000 customers. The company is rapidly expanding its operations overseas, striving to win customers with lower distribution, greater customer support, and changing market conditions.
The first broker, blueberry markets pty ltd., is extremely secure as it is licensed by a top-tier control body. Thus, the coastal broker joint, approved by eightcap global limited, has a free foreign policy. Blueberry’s general trust level suffers little because of it.
Blueberry’s low-interest rate is mainly for first-time traders with a limited account balance, although today’s traders are likely to enjoy competitive broker prices as well. They can also combine flexible trading solutions provided by blueberry’s different account accounts with the performance of mt5 and more than 300 existing instruments.
Blueberry markets key takeaways for 2022
We evaluated the blueberry market into nine categories (reliability and stability, payment, sales devices, account types, deposit and withdrawal, search, customer support, education, and platform and resources).
Blueberry markets found low in the trust segment. Nepo blueberry markets pty ltd. The largest broker licensed by asic, Blueberry Markets global is licensed by scb and vfsc. In total, the last blueberry brand suffers from neglect of coastal licenses.
The seller gained a lot of respect in the fees market due to the competitive environment and low sales price.
It also earned almost enough points in account types and deposits and withdrawals due to its unique sales and sales results.
Blueberry markets also found a very high level of customer support due to its availability 24/7. The vendor also has a lot of search tools, even if its teaching materials are not complicated; for example, no webinars.
Blueberry markets have made significant strides in the components of the instruments and platform. It offers a reasonable amount of cfd instruments, but no bonds and etfs. Although highly organized, blueberry markets’ mt5 makes no difference in certain categories, especially in terms of available chart types and timelines.
With its excellent training materials, early traders can benefit greatly from blueberry markets. The contents are available in a variety of formats, such as videos and audio recordings, making them varied and easy to find.
Regular traders can take advantage of blueberry’s instant trade execution option combined with the broker’s very low spread to maximize the effectiveness of tougher trading methods such as hedging and scalping.
Who are the blueberry markets?
Blueberry’s work focuses on the needs of small retailers who may be new to the retail world. The low sales price combined with high customer support and training tutorials can help marketers with moderate methods and less experience gradually gain experience and grow more confident.
In our review, we review the licenses and regulations of each broker. This allows us to compare each component to different levels of protection. We place licenses with different regulatory agencies on a three-tier system, where the tier-1 license reflects the highest level of regulations.
This is what we have found in terms of the two eightcap organizations and their licenses and regulations:
- Blueberry markets pty ltd is a major retailer and is the licensed representative of eightcap pty ltd. The agency is accredited by the australian securities and investments commission (asic) under registration number afsl 391441. Asic regulates tier-1.
- Eightcap global limited is a coastal retailer and operates under the trade name ‘blueberry markets global’. The agency is licensed and regulated by the securities commission of the bahamas (scb) under registration number sia-f220. Scb license represents tier-3 regulation.
- Eightcap global limited is also licensed by the vanuatu financial services commission (vfsc) under registration number 40377. These foreign licenses represent tier-3 regulation as well.
Why is it important to know your broker subsidiary (event) control?
The rules of monetary policy are not the same all over the world, so licenses obtained from different regulatory agencies include different protections. In order to provide financial services to overseas customers, retailers obtain approval from foreign regulators. In some cases, the overseas regulations may include all securities, which is why traders should be familiar with the type of law that their broker’s organization is complying with.
Here’s what traders should look for in a reliable broker:
Separation of consumer funds. Most regulators require brokers to keep their clients’ money separate from the accounts used for the broker itself. This is done to reduce the risk of accounting fraud and fraudulent activities. Both eightcap organizations comply with this requirement.
Negative balance protection. Negative balance protection means that if a broker’s account falls below zero, the broker relinquishes his right to take a deposit from the broker and returns the account balance to zero. This means that you cannot lose more money than you have deposited in your account. Two lightcap companies have poor security for retailers, even skilled retailers are not paid.
Payment for the project. Payment plans protect the seller from unforeseen occurrences such as the seller’s debt. Neither of the eightcap entities has a payment plan, meaning that its clients are liable for the risk of a broker’s debt. In other words, they can be repaid if the broker, or one of the banks with which he works, fails to repay its loan.