Blueberry Markets vs FP Markets: Honest 2026 Verdict

By Ken Chigbo, Founder, KenMacro. 18-plus years in markets, London trading floor and institutional FX. Published 2026-05-28, methodology audited against regulator public registers.

Affiliate disclosure: this page contains partner links to brokers that KenMacro has an introducing-broker arrangement with. KenMacro may earn a commission when accounts are opened through these links, at no additional cost. The desk only partners with brokers that pass the methodology screen, and the comparison verdict acknowledges where the non-partner broker genuinely wins. Capital at risk. CFD and margin trading carry significant risk of loss.

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Blueberry Markets fits ASIC-jurisdiction discretionary and macro-focused traders who want the bundled desk overlay, same-day withdrawals, and a cleaner retail offering. FP Markets fits traders who need broader platform choice, including cTrader and the IRESS share-CFD platform, plus CySEC EU access with ICF compensation. Both run ASIC Tier-1 regulation; FP Markets adds a longer audited operating history dating from 2005.

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Capital at risk. CFD and margin trading carry significant risk of loss. Past performance does not guarantee future results.

At a glance: Blueberry Markets vs FP Markets

Variable	Blueberry Markets (KenMacro partner)	FP Markets
Founded	2016	2005
Regulation	ASIC, SCB	ASIC Australia, CySEC Cyprus, FSCA South Africa, plus FSA Seychelles (offshore)
Min deposit	$100	$100
EUR/USD spread	0.0 to 0.1 pips raw (Raw account), 1.0 pip (Standard)	From 0.0 pips on the Raw account (plus commission); averages around 0.1 pips
Commission	$7 round-turn (Raw account)	Raw account adds $6 round-turn per lot; Standard is spread-only
Max leverage	1:30 ASIC retail, up to 1:500 SCB offshore	1:30 ASIC / CySEC retail, up to 1:500 on the offshore Seychelles entity
Platforms	MT4, MT5, TradingView, Blueberry App	MT4, MT5, cTrader, TradingView, and IRESS for share CFDs
Payments	Bank wire, cards, PayPal, Skrill, Neteller. Free withdrawals over $100. Same-day processing window.	Bank wire, cards, Skrill, Neteller, PayPal. Most methods same-day.
Trustpilot 2026	4.4 / 5	4.7 / 5
Key strength	ASIC oversight plus the bundled MACRO MASTERY desk overlay	Raw-spread pricing across MT4, MT5, cTrader plus the IRESS share-CFD platform, under ASIC and CySEC

Blueberry Markets: the desk’s honest verdict

Blueberry Markets operates through Eightcap Pty Ltd under ASIC licence 522790, with an SCB Bahamas entity covering offshore clients. Client funds sit segregated at Tier-1 Australian banks including NAB and Westpac. The Raw account quotes EUR/USD from 0.0 to 0.1 pips with a $7 round-turn commission, and the Standard account runs spread-only from around 1.0 pip. Minimum deposit is $100, and the platform stack covers MT4, MT5, TradingView, and the Blueberry mobile app.

The genuine pros: ASIC oversight at the retail layer, a clean payments cycle with same-day processing and free withdrawals above $100, a 4.4 Trustpilot score, and through the KenMacro IB route, the bundled MACRO MASTERY desk overlay that wraps execution with macro context. That overlay is the structural reason discretionary macro traders route here rather than to a pure execution brand.

The honest cons: Blueberry was founded in 2016, so the audited operating history is shorter than long-running ASIC peers. There is no cTrader and no IRESS share-CFD platform, which narrows the choice for traders who prefer those venues. The offshore SCB entity carries no Tier-1 investor compensation scheme. Blueberry does not accept US retail clients, so anyone seeking CFTC and NFA oversight must look elsewhere. The Standard account at 1.0 pip is not competitive against Raw pricing once volume rises, so active traders should default to the Raw tier and the commission model. Outside ASIC and SCB, regulatory coverage is thinner than rivals that carry CySEC, FCA, or FSCA layers in parallel.

FP Markets: the desk’s honest verdict

FP Markets, operated by First Prudential Markets Pty Ltd, holds ASIC licence 286354, CySEC Cyprus licence 371/18, FSCA South Africa registration, and runs an offshore FSA Seychelles entity for international clients. CySEC-onboarded clients receive ICF investor compensation up to EUR 20,000. The firm has been privately held and operating since 2005, giving it a 20-plus year audited track record. Note clearly: FP Markets is a separate company from the FP Trading offshore brand referenced elsewhere on this site, and the two should not be conflated.

The genuine pros: the Raw account quotes EUR/USD from 0.0 pips with a $6 round-turn commission, which is among the tighter all-in costs in the ASIC pack. Platform choice is unusually broad: MT4, MT5, cTrader, TradingView, and IRESS for share CFDs, the last of which most CFD brokers do not offer. Payments run through bank wire, cards, Skrill, Neteller, and PayPal, with most methods processed same-day. Trustpilot sits at 4.7 out of 5.

The honest cons: there is no bundled macro desk overlay or research wrap comparable to the KenMacro MACRO MASTERY layer, so discretionary traders who value structured macro context have to source it separately. FP Markets does not hold an FCA UK licence, so UK retail clients sit under the CySEC or offshore route rather than FCA conduct rules and FSCS coverage. The Seychelles offshore entity, like most offshore tiers, carries no Tier-1 investor compensation. Onboarding into the Raw account, cTrader, and IRESS layers requires more configuration than the simpler Blueberry path, which can slow first-time setup.

Where FP Markets genuinely wins

Institutional honesty

FP Markets beats Blueberry Markets on several measurable fronts, and the desk states this plainly. First, operating history: FP Markets has been running since 2005, more than two decades of audited activity, against Blueberry’s 2016 founding. For traders who weight longevity and a deeper regulatory paper trail, that gap is real.

Second, regulatory breadth. FP Markets pairs ASIC licence 286354 with CySEC licence 371/18 and FSCA South Africa, giving EU clients ICF investor compensation up to EUR 20,000 through the CySEC route. Blueberry’s structure runs ASIC plus offshore SCB only, with no CySEC EU layer and no parallel FSCA registration. For EU-resident traders who want a Tier-1 EU regulator and statutory compensation, FP Markets is the cleaner answer.

Third, platform depth. FP Markets offers MT4, MT5, cTrader, TradingView, and IRESS for share CFDs. The IRESS platform in particular is rare among CFD brokers and matters to traders running equity CFDs alongside FX. Blueberry covers MT4, MT5, TradingView, and its own app, but no cTrader and no IRESS.

Fourth, headline Raw pricing. FP Markets’ Raw commission is $6 round-turn versus Blueberry’s $7, with EUR/USD averaging around 0.1 pips on Raw. On a high-volume book, that one-dollar commission gap compounds.

Fifth, public sentiment as a proxy: Trustpilot rates FP Markets at 4.7 against Blueberry’s 4.4. Sentiment is not regulation, but the gap is consistent. Traders who do not need the bundled MACRO MASTERY desk overlay should weigh these advantages seriously.

Regulation and client-fund protection

Blueberry Markets operates under ASIC Australia licence 522790 through Eightcap Pty Ltd, the execution partner, with an SCB Bahamas entity covering offshore retail. Client money is segregated at Tier-1 Australian banks including NAB and Westpac. ASIC retail leverage caps at 1:30 on major FX, with the SCB offshore route extending up to 1:500 for eligible clients.

FP Markets carries a wider regulator stack: ASIC Australia licence 286354 under First Prudential Markets Pty Ltd, CySEC Cyprus licence 371/18, FSCA South Africa, plus an offshore FSA Seychelles entity. CySEC clients receive Investor Compensation Fund cover up to EUR 20,000 per claim, a statutory protection Blueberry’s structure does not match. ASIC and CySEC retail leverage caps are both 1:30 on major FX pairs, and the Seychelles offshore entity reaches up to 1:500.

The practical read: both brands sit under ASIC Tier-1 at the retail layer, so Australian retail clients get equivalent regulator-level conduct oversight. FP Markets adds the CySEC EU pathway with ICF statutory compensation and an FSCA South Africa layer, which Blueberry does not have. Neither broker holds an FCA UK licence, so neither offers FSCS cover, and UK clients onboard via offshore or, for FP Markets, the CySEC route. Neither broker accepts US retail clients, so anyone needing CFTC and NFA oversight should not be on this shortlist. For EU-resident traders, FP Markets is structurally the cleaner choice. For ASIC-jurisdiction traders who want the bundled MACRO MASTERY desk overlay, Blueberry retains its position.

Spreads, commission, and all-in cost

On EUR/USD, both brokers price the Raw tier aggressively. Blueberry Markets quotes the Raw account from 0.0 to 0.1 pips with a $7 round-turn commission per standard lot. FP Markets quotes its Raw account from 0.0 pips, with averages cited around 0.1 pips, and a $6 round-turn commission per standard lot. On headline all-in cost at typical Raw spread, FP Markets prices roughly $1 per round-turn lot tighter than Blueberry on the commission line. For a trader running 10 round-turns per day across a calendar month, that compounds to a measurable cost difference.

The Standard account at Blueberry runs spread-only from around 1.0 pip on EUR/USD, suitable for lower-frequency traders who prefer no commission line. FP Markets’ Standard account is also spread-only, with the Raw and commission structure reserved for the more active book.

The honest read: neither broker is structurally cheaper in any meaningful way at low volume. At high volume, FP Markets has the slight headline edge on commission. Blueberry’s offset is the bundled MACRO MASTERY desk overlay routed through the KenMacro IB, which is a non-price benefit not captured in the spread comparison. Traders who weight pure all-in execution cost should bias to FP Markets Raw. Traders who weight execution cost plus structured macro context should bias to Blueberry Raw. Spread comparisons should always be checked against live broker terms before account funding, since published averages move with volatility regime.

Platforms and execution stack

Blueberry Markets runs MT4, MT5, TradingView, and the Blueberry mobile app. That covers the dominant retail FX stack and the increasingly popular TradingView charting integration, but there is no cTrader option and no IRESS share-CFD platform. For traders who run pure FX and indices through MT4 or MT5, this stack is complete. For traders who prefer cTrader’s depth-of-market view or want IRESS for equity CFDs, Blueberry is not the right fit.

FP Markets offers a noticeably wider line-up: MT4, MT5, cTrader, TradingView, and IRESS. The IRESS platform is the structural differentiator, since most CFD brokers do not carry it, and it gives equity CFD traders an institutional-grade order book and Level 2 data. cTrader appeals to traders who prefer its execution model and built-in cBots over MT5’s MQL ecosystem.

Practical read: platform stack is the clearest single decision driver between the two. If the trader runs MT4 or MT5 and TradingView only, both brokers are functionally equivalent on platform. If cTrader or IRESS sits in the requirement set, FP Markets is the only option. If the trader wants a tightly bundled experience with the macro desk overlay alongside the standard MetaTrader stack, Blueberry’s narrower line-up is not a defect; it is a deliberate scope.

Payments and withdrawals

Both brokers support a similar payments stack: bank wire, debit and credit cards, Skrill, Neteller, and PayPal. Minimum deposit at each broker is $100, which keeps the entry barrier low and equivalent.

Blueberry Markets processes withdrawals same-day on most methods, and withdrawals above $100 are free of broker-side fees. The same-day processing cycle is one of the structural reasons cashflow-sensitive traders route here, since rebalance between brokers stays clean.

FP Markets also processes most methods same-day, with bank wire typically settling on the standard interbank cycle thereafter. Published fee schedules should be checked against the broker’s terms at the time of withdrawal, since payment provider charges can vary by jurisdiction.

Honest read: payment infrastructure is broadly equivalent. Neither broker carries a meaningful payments disadvantage against the other on processing window or method choice. Card and e-wallet routes are usually the fastest at both venues. Bank wire is the slowest at both, as is standard across the sector. Traders should verify the live withdrawal-fee schedule for their specific funding currency, since neither broker’s published terms are static.

Verdict by trader archetype

Scalper

FP Markets has the slight edge for high-frequency scalpers on EUR/USD. The Raw account runs from 0.0 pips with a $6 round-turn commission, $1 tighter than Blueberry’s $7, and cTrader’s depth-of-market view supports tighter execution discipline than MT5 alone. Across thousands of round-turns per month, the commission gap compounds. Blueberry Raw at $7 with MT5 and TradingView is competitive but not the cheapest in the pack. Scalpers who weight pure all-in cost and want cTrader should bias to FP Markets. Scalpers who want the macro desk overlay alongside MT5 can still run Blueberry Raw without a material handicap.

Swing trader

Both brokers fit the swing-trade profile cleanly. Holding cost is the dominant variable here, not headline spread, and swap-rate behaviour should be checked against each broker’s live published terms before committing. Blueberry’s bundled MACRO MASTERY desk overlay is genuinely useful for swing traders running macro themes across the FX majors, since the context layer adds structured framing around carry, central bank cycle, and risk regime. FP Markets carries no equivalent macro wrap but offers IRESS for traders who pair FX swings with equity CFD positioning. The desk routes macro-discretionary swing traders to Blueberry and multi-asset swing traders to FP Markets.

Beginner

Blueberry Markets is the cleaner first-broker choice for ASIC-jurisdiction beginners. The platform line-up is narrower and less intimidating, the same-day withdrawal cycle is straightforward, and the bundled desk overlay through the KenMacro IB route gives beginners structured macro context rather than leaving them to assemble it from scratch. FP Markets is well-regulated and well-priced, but the five-platform stack including IRESS and cTrader is more configuration than most beginners need. Beginners in the EU who specifically want CySEC ICF compensation should still consider FP Markets, since Blueberry’s offshore SCB route does not match that statutory protection.

News trader

FP Markets carries a slight structural edge for news traders through cTrader’s depth-of-market view and execution model, which suits high-volatility event windows better than MetaTrader alone. Raw pricing from 0.0 pips and the $6 commission help when spreads widen around print, since the baseline starts tighter. Blueberry handles news on MT5 and TradingView competently, and the macro desk overlay is genuinely useful for pre-event positioning context, but the platform tooling for the print itself is less specialised. News traders who weight execution mechanics should bias to FP Markets; those who weight pre-event macro framing should bias to Blueberry.

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Bundled MACRO MASTERY desk overlay through the KenMacro IB relationship. Capital at risk.

Frequently asked

Is Blueberry Markets or FP Markets better regulated in 2026?

Both hold ASIC Tier-1 retail licences. FP Markets adds CySEC Cyprus licence 371/18 with ICF compensation up to EUR 20,000 and FSCA South Africa, while Blueberry runs ASIC plus SCB Bahamas only. For EU residents who want statutory investor compensation, FP Markets is the structurally cleaner choice.

Which broker is cheaper on EUR/USD?

FP Markets is marginally cheaper at high volume. Its Raw account quotes from 0.0 pips with a $6 round-turn commission, against Blueberry Raw at 0.0 to 0.1 pips with $7 commission. The $1 commission gap per round-turn lot compounds meaningfully across an active book.

Does either broker accept US retail clients?

Neither Blueberry Markets nor FP Markets accepts US retail clients. US-resident traders need a broker holding CFTC registration and NFA membership, with retail FX leverage capped at 1:50. Options in that lane include OANDA and Forex.com, not the two brokers compared on this page.

What platforms does FP Markets offer that Blueberry does not?

FP Markets adds cTrader and IRESS to the standard MT4, MT5, and TradingView stack. IRESS is the structural differentiator, since it gives equity CFD traders a Level 2 order book that most CFD brokers do not carry. Blueberry’s stack is MT4, MT5, TradingView, and its mobile app.

Is FP Markets the same as FP Trading?

No. FP Markets, operated by First Prudential Markets Pty Ltd under ASIC licence 286354 and CySEC licence 371/18, is a completely separate company from the FP Trading offshore brand referenced elsewhere on this site. The two should not be conflated under any circumstances.

Which broker fits a macro-focused discretionary trader?

Blueberry Markets, routed through the KenMacro IB partnership, carries the bundled MACRO MASTERY desk overlay that wraps execution with structured macro context. FP Markets has no equivalent macro research wrap. For discretionary traders running macro themes who value that overlay, Blueberry is the closer fit.