Blueberry Markets vs BlackBull Markets: Honest 2026 Comparison
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Blueberry Markets and BlackBull Markets both target the ASIC raw-spread retail vs FMA NZ ECN archetype but with different trade-offs. BlackBull Markets runs FMA New Zealand, FSA Seychelles, founded 2014, with ecn execution under fma nz oversight plus the unusual share-dealing add-on (blackbull invest). For the ASIC raw-spread retail vs FMA NZ ECN archetype, Blueberry Markets is the cleaner fit.
By Ken Chigbo, Founder, KenMacro, 18-plus years in markets, London trading floor and institutional FX. The framework runs daily inside the MACRO MASTERY desk.
Quick verdict
- Blueberry Markets runs ASIC, SCB, BlackBull Markets runs FMA New Zealand, FSA Seychelles.
- For raw spreads plus commission. Blueberry Markets EUR/USD 0.0 to 0.1 pips raw (raw account), 1.0 pip (standard), commission $7 round-turn (raw account). BlackBull Markets EUR/USD 0.8 pips typical (standard, no commission), 0.1 pips raw (prime), 0.0 pips raw (institutional), commission standard zero, prime $6 round-turn, institutional $4 round-turn.
- For TradingView native vs cTrader plus BlackBull Invest. Blueberry Markets runs mt4, mt5, tradingview, blueberry app. BlackBull Markets runs metatrader 4, metatrader 5, ctrader, tradingview, blackbull copytrader, blackbull invest (share dealing).
- For minimum deposit. Blueberry Markets: $100. BlackBull Markets: $0 (Standard), $2,000 (Prime), $20,000 (Institutional).
- For Trustpilot 2026.
- For the partner-stack alternative. Blueberry Markets is the partner route the desk runs.
Open Blueberry Markets, the partner-stack route →
Capital at risk. CFD and margin trading carry significant risk of loss. Past performance does not guarantee future results.
At a glance
| Variable | Blueberry Markets | BlackBull Markets |
|---|---|---|
| Founded | 2016 | 2014 |
| Regulation | ASIC, SCB | FMA New Zealand, FSA Seychelles |
| Min deposit / fee | $100 | $0 (Standard), $2,000 (Prime), $20,000 (Institutional) |
| EUR/USD spread | 0.0 to 0.1 pips raw (Raw account), 1.0 pip (Standard) | 0.8 pips typical (Standard, no commission), 0.1 pips raw (Prime), 0.0 pips raw (Institutional) |
| Commission | $7 round-turn (Raw account) | Standard zero, Prime $6 round-turn, Institutional $4 round-turn |
| Max leverage | 1:30 ASIC retail, up to 1:500 SCB offshore | 1:500 (FMA retail in NZ jurisdictions allow), up to 1:500 FSA Seychelles offshore |
| Platforms | MT4, MT5, TradingView, Blueberry App | MetaTrader 4, MetaTrader 5, cTrader, TradingView, BlackBull CopyTrader, BlackBull Invest (share dealing) |
| Payment / payouts | Bank wire, cards, PayPal, Skrill, Neteller. Free withdrawals over $100. Same-day processing window. | Bank wire, debit and credit cards, Skrill, Neteller, BTC, Hyperwallet, local APMs in selected regions. Free withdrawals on most methods. |
| Trustpilot 2026 | ||
| Key strength | ECN execution under FMA NZ oversight plus the unusual share-dealing add-on (BlackBull Invest) |
Regulation and trust
Blueberry Markets carries ASIC Australia licence 522790 (Eightcap Pty Ltd, the Blueberry Markets execution partner), and SCB Bahamas oversight on the offshore entity. Segregated client funds at Tier-1 Australian banks (NAB, Westpac). BlackBull Markets runs BlackBull Markets Ltd is regulated by the Financial Markets Authority of New Zealand under derivatives issuer licence FSP403326. BlackBull Group Ltd is registered with the FSA Seychelles under licence SD045. Headquartered in Auckland since 2014. Single Tier-1 regulator (FMA NZ) with the offshore Seychelles entity used for higher-leverage tiers. Regulator depth is one of the cleanest filters when picking a broker, the deeper the audited stack the better the recourse if anything goes wrong.
Blueberry Markets, the regulator footprint runs ASIC Australia licence 522790 (Eightcap Pty Ltd, the Blueberry Markets execution partner), and SCB Bahamas oversight on the offshore entity. Segregated client funds at Tier-1 Australian banks (NAB, Westpac).
BlackBull Markets, by contrast, operates under BlackBull Markets Ltd is regulated by the Financial Markets Authority of New Zealand under derivatives issuer licence FSP403326. BlackBull Group Ltd is registered with the FSA Seychelles under licence SD045. Headquartered in Auckland since 2014. Single Tier-1 regulator (FMA NZ) with the offshore Seychelles entity used for higher-leverage tiers.
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Spreads and commission
On the headline raw account tier, Blueberry Markets posts 0.0 to 0.1 pips raw (raw account), 1.0 pip (standard) on EUR/USD with $7 round-turn (raw account). BlackBull Markets posts 0.8 pips typical (standard, no commission), 0.1 pips raw (prime), 0.0 pips raw (institutional) with standard zero, prime $6 round-turn, institutional $4 round-turn. All-in cost is the relevant comparison rather than the headline raw spread on its own, the commission rate per round-turn lot can flip the verdict for high-frequency traders. On the ASIC raw-spread retail vs FMA NZ ECN archetype, Blueberry Markets edges the cost stack.
On the headline raw account tier, Blueberry Markets posts 0.0 to 0.1 pips raw (raw account), 1.0 pip (standard) on EUR/USD with $7 round-turn (raw account). BlackBull Markets posts 0.8 pips typical (standard, no commission), 0.1 pips raw (prime), 0.0 pips raw (institutional) with standard zero, prime $6 round-turn, institutional $4 round-turn. Both numbers are sourced from the brokers’ published spread sheets and cross-referenced against live execution windows during NFP and FOMC.
Platforms
Blueberry Markets’s platform stack runs mt4, mt5, tradingview, blueberry app. BlackBull Markets covers metatrader 4, metatrader 5, ctrader, tradingview, blackbull copytrader, blackbull invest (share dealing). Platform fit is rarely the differentiator on its own, the question is which stack lines up with the trader’s existing chartwork and automation. For traders running MetaTrader expert advisors or TradingView native chartwork, both brokers cover the standard set, the differentiator lives in any proprietary platform extension on each side.
Blueberry Markets’s platform stack covers mt4, mt5, tradingview, blueberry app, while BlackBull Markets runs metatrader 4, metatrader 5, ctrader, tradingview, blackbull copytrader, blackbull invest (share dealing). Platform fit is rarely the differentiator on its own, the differentiator is how the platform set lines up with the trader’s existing chartwork and automation set.
Payments and withdrawals
Blueberry Markets: Bank wire, cards, PayPal, Skrill, Neteller. Free withdrawals over $100. Same-day processing window. BlackBull Markets: Bank wire, debit and credit cards, Skrill, Neteller, BTC, Hyperwallet, local APMs in selected regions. Free withdrawals on most methods. Withdrawal infrastructure is a quiet but high-impact layer. The cleanest brokers process broker-side withdrawals same-day on most methods with zero broker-side fees, intermediary-bank delays are the variable element on bank-wire withdrawals.
Blueberry Markets: Bank wire, cards, PayPal, Skrill, Neteller. Free withdrawals over $100. Same-day processing window.
BlackBull Markets: Bank wire, debit and credit cards, Skrill, Neteller, BTC, Hyperwallet, local APMs in selected regions. Free withdrawals on most methods.
FCA, ASIC and FSCA regulation. Lloyd’s of London supplementary client-fund insurance up to one million dollars per client. Raw-spread ECN execution.
Who should pick Blueberry Markets
Pick Blueberry Markets if you are
The headline differentiator is ASIC, SCB regulator coverage with 0.0 to 0.1 pips raw (raw account), 1.0 pip (standard) on EUR/USD. Blueberry Markets is in the partner stack the desk runs every day.
Who should pick BlackBull Markets
Pick BlackBull Markets if you are
Pick BlackBull Markets if you fit the ASIC raw-spread retail vs FMA NZ ECN archetype that prioritises ecn execution under fma nz oversight plus the unusual share-dealing add-on (blackbull invest). The headline differentiator is FMA New Zealand, FSA Seychelles regulator coverage with 0.8 pips typical (standard, no commission), 0.1 pips raw (prime), 0.0 pips raw (institutional) on EUR/USD. BlackBull Markets is not in the partner stack the desk runs, see the pivot CTA below.
The desk’s verdict
Desk verdict
Blueberry Markets and BlackBull Markets are both credible options inside the ASIC raw-spread retail vs FMA NZ ECN archetype. BlackBull Markets wins on cTrader native execution, the BlackBull Invest share-dealing add-on, and very low Institutional commission tier ($4 round-turn).
Open Blueberry Markets, the partner-stack route →
Capital at risk. CFD and margin trading carry significant risk of loss. Past performance does not guarantee future results.
KenMacro paid partner. ASIC for Australian residents only, offshore elsewhere.
The MACRO MASTERY angle
Broker selection is one piece of the framework. Macro positioning is what compounds across cycles, irrespective of the execution venue. The MACRO MASTERY desk runs daily macro pulses, NFP and FOMC and CPI live coverage, BTC whale-flow signals, weekly performance scorecard, and the live MT5 signal bridge.
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Related from the desk
Frequently asked questions
Which is better, Blueberry Markets or BlackBull Markets?
Both are credible options inside their respective regulator stacks.
Is Blueberry Markets safer than BlackBull Markets?
Blueberry Markets runs ASIC, SCB. BlackBull Markets runs FMA New Zealand, FSA Seychelles. Both segregate client funds per regulator rules.
Are Blueberry Markets spreads tighter than BlackBull Markets?
Blueberry Markets posts 0.0 to 0.1 pips raw (raw account), 1.0 pip (standard) with $7 round-turn (raw account). BlackBull Markets posts 0.8 pips typical (standard, no commission), 0.1 pips raw (prime), 0.0 pips raw (institutional) with standard zero, prime $6 round-turn, institutional $4 round-turn. All-in cost is the operationally relevant comparison rather than the headline raw spread on its own.
Which has lower minimum deposit, Blueberry Markets or BlackBull Markets?
Blueberry Markets: $100. BlackBull Markets: $0 (Standard), $2,000 (Prime), $20,000 (Institutional). The lower minimum is the cleaner door-opener for early-stage traders, but capital should match the trader’s risk-management plan rather than the broker’s floor.
Blueberry Markets is in the partner stack. BlackBull Markets is not.
Can I run both Blueberry Markets and BlackBull Markets accounts?
Yes. Many traders run more than one broker account in parallel, eg one for ECN raw execution and one for spread-only proprietary platforms. Both brokers segregate client funds per their respective regulator rules, so capital is protected on each entity’s terms even if one entity fails.
Related reading
- Best forex brokers 2026, the institutional verdict
- How to choose a forex broker, the desk’s framework
- Vantage vs Blueberry vs Star Trader, three-way verdict
Educational analysis only. Past performance does not guarantee future results. Manage risk against your own portfolio. CFD and margin trading carry significant risk of loss. Verify current Blueberry Markets and BlackBull Markets terms against each official documentation before opening an account.
Sources cross-referenced for this Blueberry Markets vs BlackBull Markets comparison: https://blueberrymarkets.com/about-us/, https://connectonline.asic.gov.au/RegistrySearch/, https://uk.trustpilot.com/review/blueberrymarkets.com, https://blackbull.com/en/about-us/, https://fsp.companiesoffice.govt.nz/, https://uk.trustpilot.com/review/blackbull.com, Trustpilot aggregations 2026.
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