Wong Khong Ming
Recruit
- Messages
- 7
I have been trading with Blueberry Markets for about 5-6 months. My trading account is 49322.
On 14th April, Blueberry Markets platform was down about 30 mins, nothing can be done that time - unable to close or open a new trade.
During the server outage, I was having a sell trade on Gold at a price of 1967.25.
After the server was up, the lowest price of the Gold during the said time was 1964.39, however this price is so far different from 5 other platforms: 3 fx brokers,, Tradingview and Fxstreet price which is quoting around 1960.xx. (You guys can go and counter check on this price on 14th April to verify)
I immediately raised the complaint to Blueberry Markets support team, and ask them to counter check on tick data during the said time. One of the support team replied that the tick data received was 1962.02, which does not tally with the quoted price which is 1964.39. (refer to the Email as attached)
I am also in doubt on the tick data 1962.02 provided as all other 5 platforms were showing 1960.xx instead, therefore I proceed to ask for the tick data and liquidity providers details to confirm on the tick data but the information was not shared to me by Blueberry Markets with no valid reasons.
The replied from Blueberry Markets with regards to the issue is as below:
i) With no ability to confirm whether there was an attempt to close this trade during the outage, the intention to close trade ID 14185800 is evident by the chat that occurred on 14th April from 2:02pm to 02:12pm (UTC) between yourself and a Blueberry Markets representative. The tick data evidences the top of book price that was available prior to the outage at 1967.34, after the outage at 1967.93, and during the outage. From the tick data, there is no evidence to suggest that during the outage the trade ID 14185800 would have incurred any profit.
>>> I had provided the screen recording to their support team proving I was monitoring the markets all the time during the outage. With no ability to close the trade and invalid price, my trade was suffered at a loss when the server is up.
ii) Blueberry Markets also notes that we cannot compare our prices with other brokers' prices. As we aim to offer a competitive product and services offering we thank you for your feedback and have provided this information onto the executive team.
>> They just replied that the price cant be compared with other brokers' prices without any proof ie tick data and details of the liquidity providers. Moreover, the support team had already verified and replied with an email that the actual tick data received was 1962.02 instead. Is an undeniable that the quoted price was inaccurate as compare to the tick data received.
Reply from the support team: According to our risk team, the lowest price gold reached at that time, during the outage, was $1962.02. We can aim to adjust the differences during the outages for the prices available. (refer to the attachment)
However this "mistake" and proposed adjustment was never mention in the Letter of Resolution after escalating the complaints to the compliance officer of Blueberry Markets.
The issue now is currently escalated to the Regulator and waiting for the outcome.
I am posting this thread to seek for advise if any other traders have faced the similar issue and could there be any price manipulation from the broker.
Thank you for kind advise in advance.
On 14th April, Blueberry Markets platform was down about 30 mins, nothing can be done that time - unable to close or open a new trade.
During the server outage, I was having a sell trade on Gold at a price of 1967.25.
After the server was up, the lowest price of the Gold during the said time was 1964.39, however this price is so far different from 5 other platforms: 3 fx brokers,, Tradingview and Fxstreet price which is quoting around 1960.xx. (You guys can go and counter check on this price on 14th April to verify)
I immediately raised the complaint to Blueberry Markets support team, and ask them to counter check on tick data during the said time. One of the support team replied that the tick data received was 1962.02, which does not tally with the quoted price which is 1964.39. (refer to the Email as attached)
I am also in doubt on the tick data 1962.02 provided as all other 5 platforms were showing 1960.xx instead, therefore I proceed to ask for the tick data and liquidity providers details to confirm on the tick data but the information was not shared to me by Blueberry Markets with no valid reasons.
The replied from Blueberry Markets with regards to the issue is as below:
i) With no ability to confirm whether there was an attempt to close this trade during the outage, the intention to close trade ID 14185800 is evident by the chat that occurred on 14th April from 2:02pm to 02:12pm (UTC) between yourself and a Blueberry Markets representative. The tick data evidences the top of book price that was available prior to the outage at 1967.34, after the outage at 1967.93, and during the outage. From the tick data, there is no evidence to suggest that during the outage the trade ID 14185800 would have incurred any profit.
>>> I had provided the screen recording to their support team proving I was monitoring the markets all the time during the outage. With no ability to close the trade and invalid price, my trade was suffered at a loss when the server is up.
ii) Blueberry Markets also notes that we cannot compare our prices with other brokers' prices. As we aim to offer a competitive product and services offering we thank you for your feedback and have provided this information onto the executive team.
>> They just replied that the price cant be compared with other brokers' prices without any proof ie tick data and details of the liquidity providers. Moreover, the support team had already verified and replied with an email that the actual tick data received was 1962.02 instead. Is an undeniable that the quoted price was inaccurate as compare to the tick data received.
Reply from the support team: According to our risk team, the lowest price gold reached at that time, during the outage, was $1962.02. We can aim to adjust the differences during the outages for the prices available. (refer to the attachment)
However this "mistake" and proposed adjustment was never mention in the Letter of Resolution after escalating the complaints to the compliance officer of Blueberry Markets.
The issue now is currently escalated to the Regulator and waiting for the outcome.
I am posting this thread to seek for advise if any other traders have faced the similar issue and could there be any price manipulation from the broker.
Thank you for kind advise in advance.