Blueberry Markets vs XM: Honest 2026 Comparison
The desk’s regulated broker pick
Vantage
FCA and ASIC regulated, segregated client funds, the desk’s default for a private account you fully own and can withdraw from at will. Confirm current terms on Vantage’s own site.
Open a Vantage account (FCA + ASIC) →
Capital at risk. KenMacro earns a referral commission at no cost to you, this does not change the editorial verdict.
Affiliate disclosure: this article contains partner links. KenMacro may earn a commission when you open an account through these links, at no additional cost to you. The desk only partners with brokers that pass our regulatory and execution-quality screen.
Blueberry Markets and XM both target the ASIC raw-spread retail vs CySEC mass-market archetype but with different trade-offs. Blueberry Markets carries ASIC, SCB oversight, founded 2016, with asic oversight plus the bundled macro mastery desk overlay. XM runs CySEC, ASIC, FSC Belize, DFSA, founded 2009, with $5 minimum deposit on micro and standard, deep multilingual support across 30-plus languages, no broker-side fees. For the ASIC raw-spread retail vs CySEC mass-market 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
- For ASIC oversight plus the desk bundle, Blueberry Markets. Blueberry Markets runs ASIC, SCB, XM runs CySEC, ASIC, FSC Belize, DFSA.
- 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). XM EUR/USD 1.6 pips typical (standard and micro), 0.6 pips typical (ultra low), 0.0 pips raw on zero account, commission zero on standard, micro, ultra low. zero account: $7 round-turn.
- For TradingView native vs XM WebTrader. Blueberry Markets runs mt4, mt5, tradingview, blueberry app. XM runs metatrader 4, metatrader 5, xm mobile app, xm webtrader.
- For minimum deposit. Blueberry Markets: $100. XM: $5 (Micro), $5 (Standard), $50 (XM Ultra Low).
- For Trustpilot 2026. Blueberry Markets: 4.4 / 5. XM: 4.4 / 5.
- 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 | XM |
|---|---|---|
| Founded | 2016 | 2009 |
| Regulation | ASIC, SCB | CySEC, ASIC, FSC Belize, DFSA |
| Min deposit / fee | $100 | $5 (Micro), $5 (Standard), $50 (XM Ultra Low) |
| EUR/USD spread | 0.0 to 0.1 pips raw (Raw account), 1.0 pip (Standard) | 1.6 pips typical (Standard and Micro), 0.6 pips typical (Ultra Low), 0.0 pips raw on Zero account |
| Commission | $7 round-turn (Raw account) | Zero on Standard, Micro, Ultra Low. Zero account: $7 round-turn |
| Max leverage | 1:30 ASIC retail, up to 1:500 SCB offshore | 1:30 ASIC, CySEC retail, up to 1:1000 FSC Belize offshore |
| Platforms | MT4, MT5, TradingView, Blueberry App | MetaTrader 4, MetaTrader 5, XM mobile app, XM WebTrader |
| Payment / payouts | Bank wire, cards, PayPal, Skrill, Neteller. Free withdrawals over $100. Same-day processing window. | Bank wire, debit and credit cards, Skrill, Neteller, local APMs in selected regions. No broker-side deposit or withdrawal fees. |
| Trustpilot 2026 | 4.4 / 5 | 4.4 / 5 |
| Key strength | ASIC oversight plus the bundled MACRO MASTERY desk overlay | $5 minimum deposit on Micro and Standard, deep multilingual support across 30-plus languages, no broker-side fees |
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). XM runs Trading Point of Financial Instruments Ltd is regulated by CySEC under licence 120/10. Trading Point of Financial Instruments Pty Ltd holds ASIC AFSL 443670. XM Global Limited is regulated by the FSC Belize under licence 000261/4. XM MENA Ltd is regulated by the DFSA Dubai. XM Group operates under the Trading Point Holdings group structure. Founded 2009, headquartered in Cyprus, with over 10 million reported clients across 190-plus countries. EU clients fall under the CySEC entity with ICF compensation up to 20,000 euros per client. 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. For traders prioritising the bundled MACRO MASTERY desk overlay, Blueberry Markets is the partner-stack route the desk runs every day.
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).
XM, by contrast, operates under Trading Point of Financial Instruments Ltd is regulated by CySEC under licence 120/10. Trading Point of Financial Instruments Pty Ltd holds ASIC AFSL 443670. XM Global Limited is regulated by the FSC Belize under licence 000261/4. XM MENA Ltd is regulated by the DFSA Dubai. XM Group operates under the Trading Point Holdings group structure. Founded 2009, headquartered in Cyprus, with over 10 million reported clients across 190-plus countries. EU clients fall under the CySEC entity with ICF compensation up to 20,000 euros per client.
Get the framework the desk runs every morning. Free. No card. The same institutional structure the MACRO MASTERY desk uses on every read.
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). XM posts 1.6 pips typical (standard and micro), 0.6 pips typical (ultra low), 0.0 pips raw on zero account with zero on standard, micro, ultra low. zero account: $7 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 CySEC mass-market 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). XM posts 1.6 pips typical (standard and micro), 0.6 pips typical (ultra low), 0.0 pips raw on zero account with zero on standard, micro, ultra low. zero account: $7 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. XM covers metatrader 4, metatrader 5, xm mobile app, xm webtrader. 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 XM runs metatrader 4, metatrader 5, xm mobile app, xm webtrader. 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. XM: Bank wire, debit and credit cards, Skrill, Neteller, local APMs in selected regions. No broker-side deposit or withdrawal fees. 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.
XM: Bank wire, debit and credit cards, Skrill, Neteller, local APMs in selected regions. No broker-side deposit or withdrawal fees.
ASIC regulated. The desk’s preferred broker for retail macro traders who want the MACRO MASTERY desk overlay alongside the platform.
Who should pick Blueberry Markets
Pick Blueberry Markets if you are
Pick Blueberry Markets if you fit the ASIC raw-spread retail vs CySEC mass-market archetype that prioritises asic oversight plus the bundled macro mastery desk overlay. 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 XM
Pick XM if you are
Pick XM if you fit the ASIC raw-spread retail vs CySEC mass-market archetype that prioritises $5 minimum deposit on micro and standard, deep multilingual support across 30-plus languages, no broker-side fees. The headline differentiator is CySEC, ASIC, FSC Belize, DFSA regulator coverage with 1.6 pips typical (standard and micro), 0.6 pips typical (ultra low), 0.0 pips raw on zero account on EUR/USD. XM is not in the partner stack the desk runs, see the pivot CTA below.
The desk’s verdict
Desk verdict
Blueberry Markets and XM are both credible options inside the ASIC raw-spread retail vs CySEC mass-market archetype. XM wins on the very low minimum deposit ($5 Micro and Standard), 30-plus language support, and the deep emerging-market client base. Blueberry wins on the cleaner ASIC plus SCB regulator stack vs XM’s CySEC plus FSC Belize, raw-spread accounts on EUR/USD, and the bundled MACRO MASTERY desk overlay. The desk routes traders to Blueberry Markets as the partner-stack option, with the bundled MACRO MASTERY desk overlay through the KenMacro IB relationship.
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.
ASIC regulated. Raw-spread ECN execution. Built for active intraday forex and index traders who care about cost per round-turn.
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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Same stack a hedge-fund analyst runs every morning. Free Discord onboarding.
Related from the desk
Frequently asked questions
Which is better, Blueberry Markets or XM?
For the ASIC raw-spread retail vs CySEC mass-market archetype: Blueberry Markets, on asic oversight plus the bundled macro mastery desk overlay. Both are credible options inside their respective regulator stacks.
Is Blueberry Markets safer than XM?
Blueberry Markets runs ASIC, SCB. XM runs CySEC, ASIC, FSC Belize, DFSA. Both segregate client funds per regulator rules. The deeper the audited stack the cleaner the recourse if anything goes wrong, ASIC oversight plus the desk bundle is the differentiator on this pair.
Are Blueberry Markets spreads tighter than XM?
Blueberry Markets posts 0.0 to 0.1 pips raw (raw account), 1.0 pip (standard) with $7 round-turn (raw account). XM posts 1.6 pips typical (standard and micro), 0.6 pips typical (ultra low), 0.0 pips raw on zero account with zero on standard, micro, ultra low. zero account: $7 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 XM?
Blueberry Markets: $100. XM: $5 (Micro), $5 (Standard), $50 (XM Ultra Low). 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.
Which has the bundled MACRO MASTERY desk overlay?
Blueberry Markets is in the partner stack. XM is not.
Can I run both Blueberry Markets and XM 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 XM terms against each official documentation before opening an account.
Sources cross-referenced for this Blueberry Markets vs XM comparison: https://blueberrymarkets.com/about-us/, https://connectonline.asic.gov.au/RegistrySearch/, https://uk.trustpilot.com/review/blueberrymarkets.com, https://www.xm.com/legal-documents, https://www.cysec.gov.cy/en-GB/entities/investment-firms/cypriot/37919/, https://uk.trustpilot.com/review/xm.com, Trustpilot aggregations 2026.
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