FMWe could not find this firm on FSC Mauritius's register. Mauritius's Financial Services Commission publishes no licence number anywhere on its register, so a firm can only be identified by name, and a name search matches partial names as well as exact ones.
VFSCMatched on the company name, which is the only identifier this register publishes. VFSC publishes no status field, so this confirms the firm appears on the register and not that its licence is currently in force. Vanuatu's Financial Services Commission issues no licence numbers at all and publishes no status, so a 'VFSC licence number' quoted by a broker is its Vanuatu company number. Firms that lose a licence are removed from the list on no published schedule.
Blueberry Markets is an ASIC-regulated Australian broker offering Raw account spreads from 0.0 pips with a $7 round-turn commission. Its claimed FSC Mauritius licence could not be register-verified, and Australia lacks a statutory investor-compensation scheme for OTC derivatives. With roughly 11 years of operation, Blueberry suits cost-conscious forex traders comfortable with its Tier-1/offshore split.
Pros
✓Raw spreads from 0.0 pips
✓Eight platforms including MT4, MT5, cTrader
✓ASIC-regulated with segregated funds
✓Low $100 minimum deposit
✓Negative balance protection included
Cons
✗No investor-compensation scheme in AU
✗Mauritius licence not register-verified
✗Offshore Vanuatu regulation for non-AU
✗1:500 leverage requires wholesale status
How we reviewed Blueberry: This review was researched and written using EngineForex's broker review methodology: we read every relevant page of the broker's website, verified each claimed regulator licence against the issuing authority's public register (ASIC Connect, VFSC register, FSC Mauritius register), checked Trustpilot ratings live at time of writing, and cross-referenced data across at least two independent sources before publication. Spreads, fees, and leverage figures are pulled directly from the broker's published account-type pages. For our full methodology, see EngineForex's "How We Review Brokers" page. Read our full methodology →
Level 01 / 09▸ Overview
Overview
Blueberry Markets is an Australian-based forex and CFD broker with approximately 11 years of operation, placing its founding around 2015. Over that span, the firm has carved out a niche catering to retail traders who value straightforward account structures and competitive trading conditions across forex, indices, commodities, and other CFD asset classes. This Blueberry Markets review examines the broker's regulation, costs, platforms, and account structures to help you decide whether it deserves your deposit.
The broker's Australian roots anchor it within one of the more respected regulatory environments in the Asia-Pacific region, offering a meaningful degree of confidence regarding fund safety and operational transparency. Its account lineup serves two distinct profiles: traders who prefer the simplicity of an all-in spread, and those who want the tightest possible raw spreads paired with a transparent commission.
Eleven years in this industry counts for something. It does not guarantee quality on its own, but it distinguishes Blueberry from the revolving door of newer entrants that surface and vanish within a few years.
Who it's for: Retail forex and CFD traders, particularly those in the Asia-Pacific region, who want an established broker with clean account structures and competitive pricing. Frequent traders should look at the Raw account.
Newer traders who prefer predictable all-in pricing will find the Standard account straightforward.
Level 02 / 09★ Safety
Trust & Regulation
Captured August 2026, au.blueberrymarkets.com
Blueberry Markets earns a trust score of 98/100 (Grade A), underpinned by two verified ASIC licences and two verified VFSC licences. The broker is headquartered in Sydney and operates through a multi-entity corporate structure spanning at least three jurisdictions.
So is Blueberry Markets legit? The verified ASIC oversight and decade-long track record say yes, though the unverifiable offshore claims add caveats.
What licences does Blueberry hold?
Four licences were verified directly on the respective regulators' public registers:
ASIC (Australia) - Blueberry Prime Partners Pty Ltd (AFSL 364411). This is the broker's primary Australian licence, confirmed active on the ASIC Connect register.
ASIC (Australia) - Blueberry Australia Pty Ltd (AFSL 535887). A second ASIC licence, also verified as active.
VFSC (Vanuatu) - Blueberry Markets (V) Ltd, company number 700697, covering Financial Dealers Licensing Act classes A, B, and C. Both VFSC licences are confirmed Active on the register.
VFSC (Vanuatu) - Blueberry Markets (V) Ltd, company number 700714, also confirmed Active on the VFSC Financial Dealers Licensee List.
Beyond these four, the broker claims two additional licences that could not be confirmed. Blueberry Markets (Mauritius) Ltd states it holds FSC Mauritius Global Business Licence GB24203929 under the Financial Services Act as a Full Service Dealer (excluding underwriting).
The FSC Mauritius Online Public Register returned no matching entry when searched by both licence number and name. This is not conclusive proof the licence does not exist, but you should treat it with caution.
Separately, Blueberry Capital Management 888 Ltd claims to hold a BVI Financial Services Commission licence. No licence number is publicly available, and the claim could not be verified on the BVI FSC register.
Blueberry holds 4 verified regulators: 1 tier-1 licence (Australian Securities and Investments Commission); 2 offshore licences (Vanuatu Financial Services Commission). Two additional claimed licences (FSC Mauritius and BVI FSC) could not be register-verified.
How are client funds protected?
Client funds held under the Australian entities are maintained in segregated accounts with tier-one banks, consistent with ASIC's client money rules for over-the-counter derivative providers. However, Australia does not operate a statutory retail investor-compensation scheme equivalent to the UK's FSCS for OTC FX/CFD clients.
The recently established Compensation Scheme of Last Resort (CSLR) is narrow in scope and does not cover ordinary trading losses.
For clients onboarded under the Vanuatu entity, the VFSC's regulatory framework imposes fewer protective obligations, and there is no investor compensation fund. The level of protection you receive depends significantly on which entity you are assigned to when you open your account.
Warning for Australian residents: Blueberry's Australian-facing website (au.blueberrymarkets.com) displays the Mauritius entity and advertises leverage of 1:500 (International) rather than presenting the ASIC-regulated entity with its retail leverage cap of 1:30 (AU). Australian visitors may be routed to the offshore Mauritius entity during onboarding. If you are an Australian retail client, confirm whether your account is held under the ASIC-regulated entity (Blueberry Prime Partners Pty Ltd, AFSL 364411) or the Mauritius entity, as regulatory protections and available leverage differ substantially.
What is Blueberry's reputation?
Blueberry Markets maintains a Trustpilot rating of 4.5 out of 5 across 3,266 reviews. When scanning Blueberry Markets Trustpilot reviews, overwhelmingly positive feedback on execution speed and support quality stands out, though a subset of complaints warrants attention.
WikiFX assigns an overall score of 7.65 out of 10, acknowledging ASIC regulation alongside both Market Making and STP licence types, though the platform flags 11 unresolved client complaints.
Recurring themes in negative user reports include withdrawal delays, alleged leverage changes without notice, spread-widening complaints, and account-disabling incidents. For traders researching whether Blueberry Markets is a scam or legit, the verified ASIC licences and 11-year operating history weigh heavily on the legitimate side, but the unverifiable Mauritius claim and offshore routing for Australian visitors are legitimate concerns.
Two additional cautions are worth noting. ASIC's MoneySmart investor alert list carries a warning about an impersonation website (pc.blueberry-market.com). The UK's FCA has issued a separate warning against an unrelated entity called "Blueberry Automated Market," which should not be confused with the broker reviewed here.
EngineForex Trust Score
Blueberry: 98/100 (Grade A)
Component
Score
Note
Regulator tier coverage
40/40
1 tier-1 licence
Number of regulators
15/15
4 regulators
Years of operation
15/15
11 years (10+)
Trustpilot rating
18/20
4.5/5
Trustpilot review volume
10/10
3,267 reviews (1000+)
*Computed deterministically from verified register reads, founding year, and live Trustpilot data. See EngineForex's "How We Review Brokers" for the full methodology.*
▸ At a Glance
Category
Score
Why
Trust & Safety
9.8/10
ASIC (Tier-1) verified plus offshore VFSC licences, but no investor compensation scheme for FX/CFDs.
Fees & Spreads
10.0/10
Raw account offers 0.0-pip EUR/USD spread plus $3.50/side commission; no inactivity fee disclosed.
24/7 live chat, phone, and email support with generally fast response times.
Mobile Experience
6.0/10
Standard MT4/MT5 mobile access confirmed; iOS App Store rating 5.0/5 from only 11 ratings.
Tradable Instruments
8.0/10
Forex, indices, commodities, US shares, and crypto CFDs across multiple asset classes.
★ Cost Score
Level 03 / 09◆ Fees
Fees & Spreads
Blueberry Markets runs a two-tier pricing model. The Standard account offers spreads from 1.0 pips with zero commission. The Raw (also called Direct) account strips the spread down to 0.0 pips and charges a transparent commission of $7 per standard lot per round turn ($3.50 per side) in USD.
For traders who prioritise execution cost, the Raw model nearly always works out cheaper, particularly for scalping and high-frequency strategies.
What are Blueberry's spreads?
Account Type
Instrument
Spread
Data Type
Source
Standard
Forex (e.g. EUR/USD)
1.0 pips
from
au.blueberrymarkets.com/trading/account-types
Raw / Direct
Forex (e.g. EUR/USD)
0.0 pips
from
blueberrymarkets.com/trading/trading-conditions
Raw / Direct
Gold (XAU/USD)
0.5 pips
from
blueberrymarkets.com/trading/trading-conditions
Raw / Direct
Indices
0.5 pips
from
blueberrymarkets.com/trading/trading-conditions
Raw / Direct
US Shares
0.5 pips
from
blueberrymarkets.com/trading/trading-conditions
Raw / Direct
Crypto CFDs
0.5 pips
from
blueberrymarkets.com/trading/trading-conditions
Raw / Direct
Other Commodities
0.5 pips
from
blueberrymarkets.com/trading/trading-conditions
(Per broker website, read August 2026)
What commissions does Blueberry charge?
On the Standard account, no commission is charged. On the Raw/Direct account, forex and gold (XAU/USD) trades incur $3.50 per side ($7 round turn) per standard lot in USD. US Shares carry a separate commission of $2.00 per side ($4 round turn).
Indices, crypto CFDs, and other commodities on the Raw/Direct account carry $0 commission. Commission-free index and crypto CFD trading on a raw-spread account is uncommon in this space and represents a genuine cost advantage for traders active in those markets.
Are there swap or overnight fees?
Blueberry's published fee pages do not disclose specific swap or overnight financing rates within the sources reviewed. Swap rates are instrument-specific and update daily; check the MT4/MT5 symbol specification panel for current figures before holding positions overnight.
Whether Islamic (swap-free) accounts are available is not confirmed in the broker's publicly accessible documentation.
Does Blueberry charge inactivity fees?
Blueberry's legal documents page does not specify an inactivity fee. The demo account is free with $100,000 in virtual funds and a 30-day duration that can be extended on request, requiring no credit card.
Level 04 / 09▶ Platforms
Platforms
Captured August 2026, blueberrymarkets.com
Blueberry Markets offers eight trading platforms: MetaTrader 4, MetaTrader 5, TradingView, Blueberry X, WebTrader, cTrader, Blueberry Social, and Blueberry Pulse. That is an unusually broad lineup for a broker of this size, giving genuine flexibility in matching a platform to your trading style.
Traders who rely on legacy Expert Advisors may prefer to stay on MT4 rather than rewriting scripts, but for anything beyond forex, MT5 is the practical choice.
WebTrader runs MT4 and MT5 directly in the browser with no software installation required.
cTrader provides advanced charting (including Renko, Range, and Tick bars), copy trading, and algorithmic execution.
Blueberry X is the broker's proprietary platform offering customisable layouts and EA support.
Blueberry Social enables copy trading.
Blueberry Pulse is a companion app providing market news with sentiment analysis and Analysis IQ market-positioning data.
A free Forex VPS is available to live-account holders who deposit a minimum of $100 and trade at least 15 lots per month, offering trade execution latency of 1 to 3 milliseconds.
Level 05 / 09▸ Instruments
Tradable Instruments
Blueberry Markets offers instruments across multiple asset classes, though the broker does not publish a single consolidated instrument count on its website.
Forex: Major, minor, and exotic currency pairs. This remains the broker's core offering and the asset class where Raw account pricing is most competitive.
Indices: Global equity indices available as CFDs. Commission-free on the Raw account.
Commodities: Precious metals such as gold and silver, as well as energy products. Gold (XAU/USD) spreads start from 0.5 pips on the Raw account.
Shares: US share CFDs available with a $2.00 per side commission.
Cryptocurrencies: Cryptocurrency CFDs available, though availability may vary by regulatory jurisdiction.
Jurisdiction note: Blueberry Markets is not available to US retail customers. Access for US persons is restricted exclusively to Eligible Contract Participants (ECP) under Section 1a(18) of the US Commodity Exchange Act, requiring over $10 million invested on a discretionary basis.
Level 06 / 09▶ Accounts
Account Types
Captured August 2026, au.blueberrymarkets.com
Blueberry Markets offers two core account types, Standard and Raw, both requiring a minimum deposit of $100. The Blueberry Markets minimum deposit of $100 sits at the lower end of the industry range, making it accessible for newer traders testing a live environment.
All accounts support eight base currencies: AUD, USD, EUR, GBP, CAD, NZD, SGD, and CHF. Every CFD account includes negative balance protection.
Feature
Standard
Raw
Minimum deposit
$100
$100
Spread model
Marked-up spreads (commission-free)
Raw interbank spreads
Forex spread from
1.0 pips
0.0 pips
Commission
None
$7 per lot round turn
Leverage
1:30 (AU), 1:500 (International)
1:30 (AU), 1:500 (International)
Margin call / Stop-out
100% / 50%
100% / 50%
Negative balance protection
Yes
Yes
What leverage is available to Australian retail clients?
Maximum advertised leverage reaches 1:500 (International), though this headline figure is available only to professional and wholesale clients onboarded through the offshore entity. Retail clients under ASIC regulation are capped at 1:30 (AU).
You should confirm your classification during onboarding, as the distinction between retail and professional status is critical to the leverage you will actually receive.
How do Premium accounts work?
The Premium account requires a minimum balance of $10,000, quarterly trade volume of 500 lots, and quarterly notional volume of AUD 50 million. The Premium+ account raises the bar further: a $50,000 minimum balance, 1,000 lots quarterly, and AUD 100 million+ in notional volume.
Premium+ is invitation-only and includes tailored pricing spreads and a dedicated sales trader. Both tiers are restricted to wholesale and sophisticated clients.
Payment processing for all Blueberry Markets entities is facilitated by Blueberry Prime Partners Pty Ltd (ABN 57 140 275 869, AFSL 364411), registered at Level 17/135 King St, Sydney NSW 2000, Australia. This single processing entity applies regardless of whether you open an account under the Australian or international arm.
Method
Deposit
Withdrawal
Broker Fee
Visa / Mastercard
Yes
Yes
Not disclosed
Bank Wire Transfer
Yes
Yes
Not disclosed
POLi
Yes
N/A
Not disclosed
Specific processing times, minimum deposit thresholds beyond the $100 account minimum, and any broker-side transaction fees could not be fully confirmed from publicly available sources at the time of this review. Consult the broker's official funding page or contact support to verify which payment channels, processing times, and fees currently apply in your jurisdiction.
Standard KYC requirements apply: government-issued photo identification and proof of residential address are required before your first withdrawal is approved.
Level 08 / 09▶ Education
Research & Education
Blueberry Markets provides a Knowledge Hub spanning Market Analysis, Academy, and Video Tutorials. The proprietary Blueberry Pulse platform adds a News module tracking sentiment, an Economic Calendar, and an Analysis IQ tool showing market sentiment and positioning on individual assets.
That last feature, which aggregates positioning data into a single visual, is more useful than a standard news feed for gauging short-term directional bias.
MT5 includes a built-in economic calendar and broader analytical features. cTrader provides an integrated economic calendar and real-time news feed. TradingView integration delivers real-time financial reports, live news feeds, and professional charting with Pine Script.
While these resources cover the foundational bases, the absence of a premium signal service (such as Trading Central or Autochartist) or a structured multi-level academy with certification tracking places Blueberry's education and research offering at an industry-standard level rather than a standout one.
Level 09 / 09★ Support
Customer Support
Blueberry Markets offers 24/7 customer support through live chat, email, and phone. Our own experience has been solid: fast response times and strong individual support from the team. Trustpilot reviewers corroborate this, with overwhelmingly positive experiences centred on responsive and professional support staff.
If you cannot resolve a dispute through Blueberry's internal channels, you may have recourse through the broker's regulatory body. An ASIC-regulated client has access to the Australian Financial Complaints Authority (AFCA), while a Vanuatu-regulated client has far fewer options. Verify which entity governs your account before committing funds.
▸ Our Verdict
Our Verdict on Blueberry
EF SCORE
8.0 /10
Blueberry Markets is a competitively priced, Australia-headquartered broker with roughly 11 years of operational history and a regulatory profile that blends one strong jurisdiction with several weaker or unverifiable ones. Blueberry Prime Partners Pty Ltd holds two verified ASIC licences (AFSL 364411 and AFSL 535887), and Blueberry Markets (V) Ltd is confirmed Active on the VFSC register under company numbers 700697 and 700714.
The claimed FSC Mauritius licence (GB24203929) could not be found on the Mauritian register.
From a cost perspective, the Raw account's 0.0-pip starting spreads with a $3.50-per-side commission ($7 round-turn) on forex are competitive against industry benchmarks. The Standard account's commission-free structure with spreads from 1.0 pips suits traders who prefer simpler fee calculations.
Client funds are held in segregated accounts with tier-one banks, though Australia offers no statutory investor-compensation scheme for OTC derivatives losses.
The trust score of 98/100 (Grade A) reflects ASIC oversight and a decade-long track record, yet the unverifiable offshore claims prevent an unqualified endorsement for all client segments. Overall, this Blueberry Markets review finds a broker that delivers strong value on pricing and platform choice but requires due diligence on which entity holds your account.
Best for: cost-conscious forex and CFD traders based in Australia or comfortable with ASIC-regulated accounts, who value tight raw spreads and straightforward commission structures.
Skip if: you require verified top-tier regulation across every entity you might be onboarded under, or you need a statutory investor-compensation guarantee on your trading capital.
Steffen Droll is the chief editor of Engine Forex. He set the scoring methodology every broker on the site is measured against, and he signs off on each review before it publishes, including checking every licence number against the regulator's own public register.
Published Aug 31, 2026
Frequently Asked Questions
Blueberry Markets operates under multiple regulatory authorisations across three jurisdictions. In Australia, Blueberry Prime Partners Pty Ltd holds AFSL 364411 and Blueberry Australia Pty Ltd holds AFSL 535887, both issued by ASIC. In Vanuatu, Blueberry Markets (V) Ltd holds company numbers 700697 and 700714 on the VFSC register. The broker also claims an FSC Mauritius Global Business Licence (GB24203929) for Blueberry Markets (Mauritius) Ltd; the FSC Mauritius register returned no matching entry when searched.
The minimum deposit for both the Standard and Raw account types is $100. This relatively low entry threshold applies regardless of whether you select the commission-free Standard account or the raw-spread Raw account.
The Raw (Direct) account offers forex spreads starting from 0.0 pips with a commission of $7 USD per standard lot round turn ($3.50 per side), while the Standard account provides spreads from 1.0 pips with zero commission. Gold (XAU/USD) on the Raw account starts from 0.5 pips with the same $3.50 per side commission. Indices and crypto CFDs carry spreads from 0.5 pips with no commission, and US share CFDs incur a $2.00 per side commission alongside spreads from 0.5 pips. All commissions are charged in USD.
Retail clients under ASIC regulation can access leverage of 1:30 (AU). Clients onboarded through the international (offshore) entity may access leverage of 1:500 (International), subject to professional or wholesale classification.
Yes. Blueberry Markets provides a free demo account preloaded with $100,000 in virtual funds, valid for 30 days with extensions available on request. No credit card is required, and the demo includes access to the trading academy, weekly market analysis, and educational webinars.
