Blueberry Markets charges US$7 on one standard lot of EUR/USD before any raw spread is added. On the Direct account, the Australian account-types page at https://au.blueberrymarkets.com/trading/account-types/, opened on 19 October 2026, states a commission of US$7 per standard lot per round turn, which the same page also writes as US$3.50 per side. Major-forex spreads start at 0.0 pips. A standard lot is 100,000 units of the base currency. On EUR/USD one pip, a move of 0.0001, is worth US$10, so a printed spread of 0.0 leaves the round-turn cash cost at the commission alone. Standard, on that page, charges no commission and starts spreads at 1.0 pip. Neither figure is an average. The forex page at https://au.blueberrymarkets.com/trading/forex/ showed the EURUSD bid, ask and spread as dashes, and said live prices are indicative only.
The oddity is the currency. Blueberry's product disclosure statement still prices the Direct round turn in Australian dollars. The PDF linked from https://au.blueberrymarkets.com/legal-documents/ on 19 October 2026 is dated 1 June 2024, at https://au.blueberrymarkets.com/media/3r1hsmkz/bbm-pds-au-septemer-2026.pdf. It says Direct accounts feature spreads from 0.0 pips and a round-turn commission of $7.00 (AUD) per standard lot of margin FX, metals and crude oil. Non-AUD accounts, it adds, pay different rates, which the reader should check on the website. The ECB reference rate for 16 October 2026, retrieved on 19 October from https://api.frankfurter.dev/v1/latest?from=AUD&to=USD, was 0.69588 US dollars per Australian dollar. Seven Australian dollars is US$4.87. The live page's US$7.00 sits US$2.13 above that conversion. Both documents were on the site that afternoon. They do not name the same currency.
- Direct commission on a standard lot is US$7 round turn, or US$3.50 per side, with major-forex spreads from 0.0 pips — Blueberry Australia account-types page, 19 October 2026
- Standard account: spreads from 1.0 pip and no commission, minimum deposit $100 on both tiers — same page, 19 October 2026
- The PDS still states a round-turn charge of A$7.00 per standard lot of margin FX — PDS dated 1 June 2024, file retrieved 19 October 2026
- A$7.00 converts to US$4.87 at 0.69588 dollars per Australian dollar — ECB reference rate via Frankfurter, rate date 16 October 2026, retrieved 19 October 2026
- The Australian issuer is Blueberry Australia Pty Ltd, AFSL 535887, licence start 27 May 2024 — ASIC AFS licensee dataset afs_lic_202610, retrieved 19 October 2026
- Retail maximum leverage on the account page is 30:1 and professional maximum leverage is 500:1 — account-types page, 19 October 2026
- Raw spreads apply only to forex symbols with the .i suffix, and to XAUUSD.i — same page, 19 October 2026
| Item | What the pages say |
|---|---|
| Contracting issuer, Australia | Blueberry Australia Pty Ltd, ABN 67 646 513 797, AFSL 535887 |
| Licence on the ASIC dataset | Current. Started 27 May 2024. Register locality North Sydney NSW 2060. General advice, dealing and market-making in derivatives and foreign exchange, retail and wholesale |
| Direct EUR/USD commission | US$7 per standard lot, round turn (US$3.50 per side). Spreads from 0.0 pips |
| Standard EUR/USD | From 1.0 pip, commission $0 |
| PDS line, still linked | A$7.00 round turn per standard lot of margin FX. Dated 1 June 2024 |
| Platforms on the feature list | MT4, MT5, TradingView, Blueberry X. The comparison card also names WebTrader |
| Minimum deposit | $100 |
A floor, not a fill
"From 0.0 pips" means the spread is allowed to print at zero. It does not mean the spread in London hours, or around a data release, is zero.
No average EUR/USD spread is published, and the quote panel was dashes. If the raw spread prints 0.0, the lot is US$7. If it prints 0.2 pips, pip arithmetic adds about US$2, near US$9 before any swap or conversion. That 0.2 was not a spread Blueberry printed.
Raw spreads apply only to .i forex symbols and to XAUUSD.i. Commissions are in US dollars. Conversion applies on any other account currency. A symbol without the suffix sits outside that sentence. The forex page still says spreads from 0.0 pips on EUR/USD with Direct, and never mentions the suffix.
That page is also looser on the fee. It says Direct offers raw spreads from 0.0 plus a commission of $3.50 per standard lot, without saying whether $3.50 is one side or the round turn. The account-types page resolves it: US$7 round turn, US$3.50 per side. Stop on the forex FAQ and the fee is halved by a misreading.
Standard starts major-forex spreads at 1.0 pip and charges no separate commission. At that minimum the lot is US$10. Direct's US$7 sits inside the floor, then the raw spread is added. Wider than 1.0 pip, Direct is the dearer tier. The pages do not say how often that happens.
Both tiers ask for $100 and a minimum of 0.01 lots. Account currencies: AUD, USD, EUR, GBP, CAD, NZD, SGD, CHF. A FAQ says all CFD accounts include negative balance protection. Only the Standard block also states a margin call at 100% and a stop-out at 50%.
The same dollar, three books
Every bar below is the same object: the published round-turn commission in US dollars on one standard lot of the raw tier, spread excluded. Not an all-in cost. Not an average. Blueberry's Direct figure is the US$7 above. Peers were read from their own pages on 19 October 2026.
IC Markets, at https://www.ic.com/en/trading-pricing/spreads, prices MetaTrader Raw Spread at USD 3.50 per lot per side on a USD account, written as USD 7.0 round turn. cTrader and TradingView there are US$3 per US$100,000 traded, per side. The worked example at 1.3000 and 1.3100 is US$7.83, so it is not the bar. Spreads can go as low as 0.0 pips, and the page claims an average EUR/USD spread of 0.1 pips. The footer names Raw Trading Ltd, Seychelles FSA licence SD018. That register was not re-checked here.
On https://www.tickmill.com/eu/trading/raw-account, one lot of EURUSD is 3 USD per side and 6 USD round turn. Spreads start at 0.0 pips. The commission covers FX and precious-metals CFDs. https://www.tickmill.com/eu/trading/accounts-overview puts Raw on MT4 and MT5, with retail maximum leverage 1:30 and professional 1:500. The footer names Tickmill Europe Ltd, CySEC CIF 278/15. That register was not re-opened.
Pepperstone will not sit on the chart as one bar. Pepperstone Group Limited, AFSL 414530, started 4 February 2013, Docklands VIC 3008, on the same ASIC file. At https://pepperstone.com/en-au/trading/costs-and-fees, Razor commission starts from USD 3.50 per lot per side. EURUSD minimum spread is 0 on Razor and 1 on Standard. cTrader is 6 USD round trip. TradingView is 7 USD round trip. The Pepperstone platform is 3.5 USD per side. MT4 and MT5 depend on account currency. One bar would invent a tariff.
| Book | Page read | Tier and platform | EUR/USD commission | Spread, as published |
|---|---|---|---|---|
| Blueberry Australia | au.blueberrymarkets.com account types, 19 Oct 2026 | Direct. MT4, MT5, TradingView, Blueberry X | US$7.00 round turn, US$3.50 per side | From 0.0 pips, .i forex symbols |
| IC Markets, Raw Trading Ltd | ic.com spreads page, 19 Oct 2026 | Raw Spread, MetaTrader, USD account | USD 7.0 round turn, USD 3.50 per side | As low as 0.0 pips |
| Tickmill Europe | tickmill.com/eu Raw account, 19 Oct 2026 | Raw, MT4 and MT5 | 6 USD round turn, 3 USD per side, on the page's 1-lot EURUSD example | From 0.0 pips |
| Pepperstone Group | pepperstone.com/en-au costs, 19 Oct 2026 | Razor. Rate depends on platform | From USD 3.50 per side. cTrader 6 USD round trip. TradingView 7 USD round trip. Pepperstone platform 3.5 USD per side | EURUSD Razor minimum 0. Standard minimum 1 |
Direct matches the IC Markets MetaTrader lot at US$7 and sits US$1 above Tickmill. The VT Markets review asks the same question of another book. A dollar here is 0.1 of a pip. Half a pip of spread is US$5, against a US$2.13 currency clash if the June 2024 line still binds an AUD account.
Whose name is on the contract
The brand is one word. The companies are several.
The Australian footer names Blueberry Australia Pty Ltd, trading as Blueberry, ABN 67 646 513 797, AFSL 535887, as the issuer of the products in its PDS. Payment processing, it says, is facilitated by Blueberry Prime Partners Pty Ltd, ABN 57 140 275 869, AFSL 364411. The PDS, dated 1 June 2024, says the services are not intended for residents outside Australia.
File afs_lic_202610.csv, retrieved 19 October 2026 from https://data.gov.au/data/dataset/asic-afs-licensee, lists BLUEBERRY AUSTRALIA PTY LTD under 535887, ABN 67646513797, start 27 May 2024, North Sydney NSW 2060. The conditions cover general advice, dealing and market-making in derivatives and foreign exchange, for retail and wholesale clients. The footer matches a current row.
Prime Partners, licence 364411, same file, started 10 November 2010, also North Sydney NSW 2060. Advice there covers deposits, derivatives, FX, managed-investment interests excluding investor-directed portfolio services, and securities. Dealing by issuance covers derivatives and FX. The retrieved text has no market-making limb. A licence that allows issuance is not this PDS. The PDS names Blueberry Australia.
ABR Lookup on 19 October 2026, https://abr.business.gov.au/ABN/View?abn=67646513797, puts the main location in NSW 2000. ASIC says North Sydney NSW 2060. The global site prints Prime Partners at Level 17, 135 King Street, Sydney NSW 2000. The photograph is that street, credited to Wikimedia Commons / Adam.J.W.C. / CC BY-SA 2.5. It is not a verified shot of level 17.
blueberrymarkets.com is copyrighted to Blueberry Markets Pty Ltd, which is not in that ASIC file. The footer names Mauritius company 218548, licence GB24203929, a full service dealer excluding underwriting. It names Vanuatu company 700697, classes A, B and C. It names UAE CMA category 5 licence 20200000451, limited to consultation, promotion and introduction. The global card at https://blueberrymarkets.com/trading/account-types/ prints maximum leverage of 500:1 with no retail split. Australia prints 500:1 professional and 30:1 retail. cTrader is in the platform menu, not the Direct feature line. The PU Prime review is the same split on another brand: the homepage name is not automatically the company on the contract.
Those offshore numbers are footer claims. Mauritius, Vanuatu and the UAE register were not re-checked in this session. For an Australian retail client the document that matters names Blueberry Australia, and that licence is on the ASIC file.
What changed between June 2024 and the page
The legal-documents page still offered that PDF on 19 October 2026, under a filename that includes "septemer-2026". Inside, the issue date is June 2024, version 1, dated 1 June 2024. The filename is not the issue date.
Section 10 sets Direct at A$7.00 round turn per standard lot and says Standard carries no monetary commission, with the cost in the spread. A later sentence says MT5 matches MT4 and names Standard, ProZero and Bespoke. ProZero and Bespoke are absent from the account-types page read on 19 October. The live names are Standard and Raw, and Raw is described as Direct. The public schedule moved. The linked disclosure did not, not in the currency and not in the account names.
The PDS points non-AUD accounts at the websites and does not withdraw A$7.00 for an AUD account. The website charges US dollars and converts other currencies. Taken literally, US$7 is about A$10.06 at 0.69588, while A$7.00 is US$4.87. Nothing on the account page retires the June 2024 line.
The chart uses the live schedule's US$7, labelled in US dollars, for Direct.
Where the seven dollars stops being the story
Alan Kirkland, an ASIC Commissioner, said on 12 October 2026: "The evidence demonstrates that ASIC's CFD intervention order has materially reduced retail investor harm by addressing key drivers of harm, like excess leverage." The same ASIC release 26-239MR says net losses on retail accounts fell 91% within six months, and that the most recent 12-month losses exceeded $458 million, including $73 million in fees. It dates the order from 29 March 2021 to 23 May 2027, and it states that 91% as a drop from $372 million to $33 million of aggregate net loss per quarter. Cathie Armour, then an ASIC Commissioner, said on 6 April 2022 in ASIC release 22-082MR: "We have seen a substantial reduction in harm to retail clients resulting from CFDs as a result of ASIC's product intervention."
That is about the product class, not this broker. The 30:1 retail cap is Blueberry's account page, not a ratio those two releases print. A US$7 commission is the figure a cost comparison can verify. It is not a measure of whether a retail client keeps the account.
The reading fails if the symbol is not the .i variant. It fails on an AUD account if the June 2024 PDS still governs, because A$7.00 and US$7 are different prices. It fails if the question is a weekly average all-in cost. Blueberry has not published that average.
RelatedVT Markets Review 2026: The EUR/USD Lot Is $6, Not 0.0
It also fails on blueberrymarkets.com. The 500:1 card, and the Mauritius and Vanuatu companies, are a different offer.
What the US$7 settles
The editorial score is 3.8 out of 5. Not a regulator's grade. Not a forecast of next week's spread. It marks an Australian issuer that is on the ASIC file, a Direct commission written as a plain dollar, and a disclosure that still disagrees about the currency.
What US$7 settles is the Direct tariff live on 19 October 2026: one standard lot, round turn, US dollars, US$3.50 a side, a spread allowed to print at zero. MT4, MT5, TradingView and Blueberry X are on the feature list. WebTrader is on the card. Standard's 1.0 pip minimum is a US$10 floor only while the spread sits there. On the same per-lot definition, IC Markets MetaTrader is US$7.00 round turn and Tickmill's EURUSD example is US$6.
What it does not settle is the PDF a disputes team would open. The 1 June 2024 PDS is still linked, still at A$7.00, or US$4.87 at the 16 October rate. Read from the website, US$7 is about A$10.06. An AUD account cannot choose between those sentences from the pages alone. That gap, plus the missing average, is why 3.8 is not higher.
A later PDS that named one currency, and that kept or withdrew ProZero and Bespoke, would lift the score. A break between licence 535887 and the footer, or a vanished .i limit, would drop it. Neither is the file of 19 October 2026.
For an Australian retail client the list is narrow. Issuer: Blueberry Australia Pty Ltd. Licence: a current AFSL. Direct: US$7 round turn on .i symbols, spread free to widen. Standard: 1.0 pip and $0 commission. The 500:1 figure is professional status, not the retail cap. None of that tells a client to open an account. The EUR/AUD forecast belongs to another desk. It is not a level for this broker.
Offshore clients cannot borrow the AFSL. The global footer points at Mauritius and Vanuatu companies whose registers were not confirmed here. Prime Partners' licence is real and covers advice and dealing. The Australian footer still calls that company the payments facilitator, not the product issuer.
Questions the schedule actually answers
What is the Direct fee on one standard lot of EUR/USD?
The Australian account-types page, read on 19 October 2026, states US$7 per standard lot per round turn, or US$3.50 per side, with major-forex spreads from 0.0 pips. Raw pricing is limited to forex symbols with the .i suffix and to XAUUSD.i. The US$7 is the commission. It is not an average spread, and it is not the all-in cost if the spread prints above zero. A swap for a position held overnight was not on that page.
Why do the website and the PDS disagree?
The PDS dated 1 June 2024, still linked on the legal-documents page, states a round-turn commission of A$7.00 per standard lot of margin FX and tells non-AUD accounts to check the website. The account page states US$7 and says commissions are charged in US dollars. At the ECB rate of 0.69588 on 16 October 2026, A$7.00 is US$4.87. The pages were both live on 19 October. This review does not decide which one a contract would enforce.
Which company is the Australian issuer?
Blueberry Australia Pty Ltd, ABN 67 646 513 797, AFSL 535887. The ASIC file retrieved on 19 October 2026 lists that company, start date 27 May 2024, North Sydney NSW 2060, authorised to advise, deal and make a market in derivatives and foreign exchange for retail and wholesale clients. The PDS names this company as issuer. Prime Partners, AFSL 364411, is the payments firm in the footer and holds its own advice and dealing licence.
Does every EUR/USD symbol get the raw spread?
Not on the wording of the account-types page. Raw spreads apply to forex symbols with the .i suffix and to XAUUSD.i. The forex page says spreads start from 0.0 pips on EUR/USD with Direct, and does not mention the suffix. A plain symbol without .i is outside the raw-spread sentence. The quote panel on that page showed dashes for EURUSD on 19 October, so there was no live spread to set beside either claim.
Is the Standard account's 1.0 pip the same as US$10?
Only as arithmetic, and only at the minimum. One pip on a 100,000-unit EUR/USD contract is US$10, so a 1.0 pip spread with no commission is a US$10 round turn if the spread is exactly that minimum. The page publishes the pip floor, not a dollar cost, and spreads can widen. Direct at a 0.0 spread is US$7 of commission. Wider than 1.0 pip, the US$7 sits on top of a spread that already exceeds the Standard floor.
This is analysis of published tariffs and licence records, not advice and not a recommendation to open an account. CFDs and margin foreign exchange can lose more than an initial deposit outside the protections that apply to a given client. Capital is at risk. Figures are as retrieved on 19 October 2026 and will move when the broker or the regulator changes the page.