This comparison pits a pure execution focus against a social trading ecosystem. The axis of tension lies in regulation quality, cost structures, and platform choice.
Blueberry Markets edges NAGA on the editorial score, anchored by ASIC regulation and raw ECN execution.
Find out which broker best suits your trader profile.
Choose Blueberry Markets if…
Choose Blueberry Markets if you want ASIC regulation and raw ECN spreads from 0 pips with $8/lot.
Choose NAGA if…
Choose NAGA if you want BaFin, CySEC, and FSCA oversight and a social trading platform with 950+ CFDs.
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Blueberry Markets offers tighter spreads from 0.00 pips vs 0.70 pips for NAGA, reducing trading costs.
| Editorial score | 4.3/ 5 | 4.0/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.5 / 5▲ | 4.3 / 5 |
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
A closer look at the specific criteria each broker meets or misses within each scoring category.
| Criteria | Blueberry Markets | NAGA |
|---|---|---|
| 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 | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Pass | Fail |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Fail |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Fail | Pass |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Fail | Fail |
| Multilingual support | Fail | Pass |
The scores are close: Blueberry Markets rates 4.3/5 and NAGA rates 4/5. 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.
Blueberry Markets starts from 0 pips, tighter than NAGA's 0.7 pips. Tighter spreads lower the cost per trade, which matters most for high-frequency and scalping strategies.
NAGA has $50, while Blueberry Markets requires at least $100. This makes NAGA more accessible for traders with limited starting capital.
Both Blueberry Markets and NAGA 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: NAGA requires a lower minimum deposit ($50), lowering the barrier to entry, and both brokers provide negative balance protection. Also compare demo account availability and educational resources before deciding.
Blueberry Markets lists maximum leverage of 500:1, while NAGA lists up to 400:1. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
Blueberry Markets charges $8 per lot on commission-based accounts. Commission details for NAGA are not currently available. Check their website for up-to-date pricing.
Blueberry Markets supports cTrader, MetaTrader 5, MetaTrader 4, while NAGA supports MetaTrader 5, NAGA Trader. Both provide MetaTrader 5. Blueberry Markets has exclusive access to cTrader and MetaTrader 4. NAGA has exclusive access to NAGA Trader.
NAGA, due to BaFin and CySEC oversight plus investor compensation.
Blueberry Markets wins for active traders with raw ECN spreads and transparent pricing.
Blueberry Markets is better suited for scalpers: raw/ECN spreads available, tighter spreads from 0.00 pips.
Blueberry Markets offers MT4, MT5 and cTrader for diverse workflow.
NAGA is better for beginners with a lower minimum deposit.
Fees & Spreads 30% weight | 4.3 / 5▲ | 3.8 / 5 |
|---|
Platforms & Tools 20% weight | 4.4 / 5▲ | 4.2 / 5 |
|---|
Customer Support 10% weight | 4.1 / 5▲ | 4.0 / 5 |
|---|
| Founded | 2016 | 2015 |
|---|
| Headquarters | Sydney, Australia | Hamburg, Germany |
|---|
| Min Deposit | $100 | $50▼ lower |
|---|
| Spreads From | 0 pips▼ lower | 0.7 pips |
|---|
| Commission / lot | $8/lot | N/A |
|---|
| 0.8 pips | N/A |
| Max Leverage | 500:1▲ higher | 400:1 |
|---|
| Inactivity Fee | None | $10/month (after 90 days) |
|---|
| Deposit Fee | Free | Free |
|---|
| Deposit methods | Bank transferCredit cardDebit card | Bank transferCredit cardDebit cardSkrillNeteller |
|---|
| Withdrawal methods | Bank transferCredit card | Bank transferCredit cardSkrillNeteller |
|---|
| Withdrawal Fee | Free | Free |
|---|
| Regulators | ASIC VFSC | FSCA BaFin CySEC |
|---|
| Platforms | cTrader MetaTrader 5 MetaTrader 4 | MetaTrader 5 NAGA Trader |
|---|
| Active bonuses |
|---|
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
Pros
BaFin and CySEC regulated, strong EU regulatory stack
NAGA Trader: purpose-built social trading with ranked auto-copy
950+ CFD instruments across multiple asset classes
MT5 available alongside proprietary platform
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
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
Multilingual customer support
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
Cons
Inactivity fee triggers after just 90 days
Spreads not competitive with ECN brokers
Copy trading performance dependent on community quality
No raw spread account option
No phone support
Dig deeper into each broker’s features, fees, and regulation.
Score 4 / 5
Personalised recommendation
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