Two ECN brokers go head-to-head on regulation, pricing, and platform reach. The rivalry weighs how execution quality and investor protections translate into real trading costs.
Blueberry Markets edges BlackBull Markets on overall editorial score due to stronger trust ratings.
Find out which broker best suits your trader profile.
Choose BlackBull Markets if…
Choose BlackBull Markets if you value phone support and multilingual service. You gain access to about 26,000 tradable instruments.
Choose Blueberry Markets if…
Choose Blueberry Markets if you want ASIC regulation and a Direct ECN account with published execution statistics. Phone support is not available and language options are limited.
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Both brokers offer spreads from 0.00 pips.
| Editorial score | 4.1/ 5 | 4.3/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.1 / 5 | 4.5 / 5▲ |
Pros
Supports all three major platforms: MT4, MT5, and cTrader
Regulated under FSC, well-established for offshore clients
No minimum deposit on standard account
Good for Asia-Pacific timezone traders
Regulated by top-tier authorities (FCA, ASIC, CySEC)
A closer look at the specific criteria each broker meets or misses within each scoring category.
| Criteria | BlackBull Markets | Blueberry Markets |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Fail | Fail |
| Fees & Spreads | ||
| Raw/ECN spreads available | Pass | Pass |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Pass |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Fail | Fail |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Fail |
| Multilingual support | Pass | Fail |
The scores are close: BlackBull Markets rates 4.1/5 and Blueberry Markets rates 4.3/5. Blueberry Markets has a marginal edge in our scoring, but the difference is small enough that your specific priorities — fees, platforms, or regulatory jurisdiction — should guide the final choice.
Both BlackBull Markets and Blueberry Markets start from 0 pips, making them equivalent on this metric. Compare commissions and account types to evaluate total trading costs.
BlackBull Markets has no minimum deposit, while Blueberry Markets requires at least $100. This makes BlackBull Markets more accessible for traders with limited starting capital.
Both BlackBull Markets and Blueberry Markets hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners, two factors stand out: BlackBull Markets has no minimum deposit, removing the capital barrier entirely, and both brokers provide negative balance protection. Also compare demo account availability and educational resources before deciding.
BlackBull Markets lists maximum leverage of 500:1, while Blueberry Markets lists up to 500:1. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
BlackBull Markets charges $6 per lot, lower than Blueberry Markets's $8 per lot. Lower commissions benefit active traders who execute many trades per day.
BlackBull Markets supports cTrader, MetaTrader 5, TradingView, DXtrade, MetaTrader 4, while Blueberry Markets supports cTrader, MetaTrader 5, MetaTrader 4. Both provide cTrader and MetaTrader 5 and MetaTrader 4. BlackBull Markets has exclusive access to TradingView and DXtrade.
Blueberry Markets benefits from ASIC regulation and Tier 1 investor protections.
BlackBull Markets suits active traders with 26,000 instruments and lower $6/lot commission.
BlackBull Markets is better suited for scalpers: lower commission ($6/lot).
BlackBull Markets offers MT4 MT5 and cTrader plus TradingView and DXtrade for broad platform choice.
BlackBull Markets' zero minimum deposit on standard accounts supports cost-conscious beginners.
BlackBull Markets offers far more instruments (26,000) than Blueberry (300).
Fees & Spreads 30% weight | 4.3 / 5 | 4.3 / 5 |
|---|
Platforms & Tools 20% weight | 4.0 / 5 | 4.4 / 5▲ |
|---|
Customer Support 10% weight | 3.8 / 5 | 4.1 / 5▲ |
|---|
| Founded | 2014 | 2016 |
|---|
| Headquarters | Auckland, New Zealand | Sydney, Australia |
|---|
| Min Deposit | No minimum▼ lower | $100 |
|---|
| Spreads From | 0 pips | 0 pips |
|---|
| Commission / lot | $6/lot▼ lower | $8/lot |
|---|
| 0.6 pips▼ lower | 0.8 pips |
| Max Leverage | 500:1 | 500:1 |
|---|
| Inactivity Fee | None | None |
|---|
| Deposit Fee | Free | Free |
|---|
| Deposit methods | Bank transferCredit cardDebit cardSkrillNeteller | Bank transferCredit cardDebit card |
|---|
| Withdrawal methods | Bank transferCredit cardSkrillNeteller | Bank transferCredit card |
|---|
| Withdrawal Fee | Free | Free |
|---|
| Regulators | FSC FMA | ASIC VFSC |
|---|
| Platforms | cTrader MetaTrader 5 TradingView DXtrade MetaTrader 4 | cTrader MetaTrader 5 MetaTrader 4 |
|---|
| Active bonuses |
|---|
Client funds held in segregated accounts
Negative balance protection
Raw spread account available
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Pros
ASIC-regulated with Tier 1 investor protections
MT4, MT5, and cTrader all available
Raw ECN Direct account with published execution statistics
No bonus marketing, pure execution focus
Client funds held in segregated accounts
Negative balance protection
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Cons
ECN commission of $6/lot round-turn is above some peers
Customer support timezone is NZ-centric
Brand recognition outside APAC is limited
No investor compensation scheme
No proprietary platform
Cons
$100 minimum deposit required
Limited product range, forex, indices, commodities, crypto only
No copy trading or social features
ECN commission slightly above the cheapest competitors
No investor compensation scheme
No proprietary platform
No phone support
Support available in limited languages
Dig deeper into each broker’s features, fees, and regulation.
Score 4.1 / 5
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