Blueberry Markets are Market Makers SCAMMERs (they are EightCAP in disguise)

Pheniox123

Sergeant
Messages
145
Hi All,

This is a warning against Blueberry Markets and the "ECN" scam they are running. I have left a review previously and just recently was quoted by a fellow trader complaining about Blueberry Markets and it reminded me of this case I had with them. I managed to get some of the money back through my bank (as they agreed that there was manipulation and mis-selling on Blueberry Markets side), however, I have decided to start this thread to ensure people are aware of their tactics.

First of all, all the positive reviews you are reading are from initial users and not long term users. They lure customers by the slick website and friendly initial customer service. The first thing you need to know is that this company (Blueberry Markets) is actually a facelift of the notoriously known scammers of EightCap and you can look at Eightcap reviews yourself. EightCap reviews are so bad that they had to come up with a new front called Blueberry Markets. They use EightCap back end system and even when you deposit money you are depositing to EightCap.

They use a combination of tactics to ensure your money is gone (even when you’re profiting one way they will find a way to minimise or spike your stop loss). Their best used manipulation method is the games they play with their spreads and the way they increase those spreads as they please (reaches over 350 pips at one point). They will do price hikes that are not seen in any chart and suddenly your money is gone without a trace.

The best way I can describe them is that they are a fake shell front for a known serial scammer called EightCap.

Don’t be fooled by the initial reviews from new users and don’t be fooled by the nonsense that will eventually come from them.

Now, some background information, I signed up with them late last year (as I too was fooled by the reviews and the ECN front that they keep on mentioning) and everything was going well at the start. However, as soon as my account started reaching the $25,000 mark; I have noticed that my trading results (i.e. profits) were dramatically reduced and upon closer inspection; it was clear to see that they were manipulating my trades. One of their tactics is the random spikes that occur that are not even shown on their own charts (see below an example of one of my trades): they stated that the price reached 134.656 on 25th of September 2020 at 00:04 (when it never did): it was actually 134.356 . They came back with some bogus excuses about spreads (which they are manipulating by the way) but even that is not correct with spreads on that day (see figures below showing maximum spread at that time was 3.4).

1624615281806.png


Blueberrymarkets manipulation.jpg

1624617681704.png

The above and their connection with EightCAP shows that they trade against their clients and they are not ECN as they claim to be. It is fine for majority of traders who don't trade above a certain amount of money; but once you reach a certain limit they become aware of your withdrawals and your profits against their losses. Unlike a true ECN who do not trade against you and such they have no conflict of interest.

Thanks for reading and what ever you do...DONT use them (there are others who are good and trustworthy)....

Would be interesting to see what malarkey they will come up with in their response.

Pheniox
 

FxMaster

Lt. Colonel
Messages
10,394
Hi All,

This is a warning against Blueberry Markets and the "ECN" scam they are running. I have left a review previously and just recently was quoted by a fellow trader complaining about Blueberry Markets and it reminded me of this case I had with them. I managed to get some of the money back through my bank (as they agreed that there was manipulation and mis-selling on Blueberry Markets side), however, I have decided to start this thread to ensure people are aware of their tactics.

First of all, all the positive reviews you are reading are from initial users and not long term users. They lure customers by the slick website and friendly initial customer service. The first thing you need to know is that this company (Blueberry Markets) is actually a facelift of the notoriously known scammers of EightCap and you can look at Eightcap reviews yourself. EightCap reviews are so bad that they had to come up with a new front called Blueberry Markets. They use EightCap back end system and even when you deposit money you are depositing to EightCap.

They use a combination of tactics to ensure your money is gone (even when you’re profiting one way they will find a way to minimise or spike your stop loss). Their best used manipulation method is the games they play with their spreads and the way they increase those spreads as they please (reaches over 350 pips at one point). They will do price hikes that are not seen in any chart and suddenly your money is gone without a trace.

The best way I can describe them is that they are a fake shell front for a known serial scammer called EightCap.

Don’t be fooled by the initial reviews from new users and don’t be fooled by the nonsense that will eventually come from them.

Now, some background information, I signed up with them late last year (as I too was fooled by the reviews and the ECN front that they keep on mentioning) and everything was going well at the start. However, as soon as my account started reaching the $25,000 mark; I have noticed that my trading results (i.e. profits) were dramatically reduced and upon closer inspection; it was clear to see that they were manipulating my trades. One of their tactics is the random spikes that occur that are not even shown on their own charts (see below an example of one of my trades): they stated that the price reached 134.656 on 25th of September 2020 at 00:04 (when it never did): it was actually 134.356 . They came back with some bogus excuses about spreads (which they are manipulating by the way) but even that is not correct with spreads on that day (see figures below showing maximum spread at that time was 3.4).

View attachment 66356


View attachment 66357

View attachment 66358

The above and their connection with EightCAP shows that they trade against their clients and they are not ECN as they claim to be. It is fine for majority of traders who don't trade above a certain amount of money; but once you reach a certain limit they become aware of your withdrawals and your profits against their losses. Unlike a true ECN who do not trade against you and such they have no conflict of interest.

Thanks for reading and what ever you do...DONT use them (there are others who are good and trustworthy)....

Would be interesting to see what malarkey they will come up with in their response.

Pheniox
Let's start with adding your story as a review https://www.forexpeacearmy.com/forex-reviews/13312/blueberrymarkets-forex-brokers and then follow the below suggestions.

First of all, invite the company by using the invite company option to your thread. And if you are unable to locate the option then this thread " Tutorial: How to Invite a company to your thread. " Will help you to find out.

Note: The invitation button will be enabled when your first post reaches 4 days old.
Note 2: Make sure to share your account number (Only account number). Many time this help companies to find out you are genuine or not.
Note 3: Make sure to follow the suggestions correctly, when you do it correctly you will get the below message in your thread automatically.

OP Screen shot.jpg
 

Pheniox123

Sergeant
Messages
145
Thanks a lot FXMaster.

I have already put a review while back but will invite Blueberry (aka EightCAP) when the invitation becomes available.

thanks
Pheniox
 

Trader09

Private, 1st Class
Messages
31
Could you provide the screenshots showing they admitted that there was manipulation and mis-selling on Blueberry Markets!
 

Pheniox123

Sergeant
Messages
145
Hi Trader09,

My bank (Emirates NBD) case manager informed me of the outcome over the phone and I have received the below automated email from the bank informing me of a successful chargeback. Unfortunately I did not get all my money back; as there was an error with the transaction numbers.

The chargeback process was a long winded process and took over 90 days for any resolution…however, it was very powerful in ensuring these scammers are held accountable

thanks
Pheniox

8E395FDC-D2E2-4B0E-9D12-76FBE44779AC.jpeg
 

The Punisher

Sergeant Major
Messages
661
Hi All,

This is a warning against Blueberry Markets and the "ECN" scam they are running. I have left a review previously and just recently was quoted by a fellow trader complaining about Blueberry Markets and it reminded me of this case I had with them. I managed to get some of the money back through my bank (as they agreed that there was manipulation and mis-selling on Blueberry Markets side), however, I have decided to start this thread to ensure people are aware of their tactics.

First of all, all the positive reviews you are reading are from initial users and not long term users. They lure customers by the slick website and friendly initial customer service. The first thing you need to know is that this company (Blueberry Markets) is actually a facelift of the notoriously known scammers of EightCap and you can look at Eightcap reviews yourself. EightCap reviews are so bad that they had to come up with a new front called Blueberry Markets. They use EightCap back end system and even when you deposit money you are depositing to EightCap.

They use a combination of tactics to ensure your money is gone (even when you’re profiting one way they will find a way to minimise or spike your stop loss). Their best used manipulation method is the games they play with their spreads and the way they increase those spreads as they please (reaches over 350 pips at one point). They will do price hikes that are not seen in any chart and suddenly your money is gone without a trace.

The best way I can describe them is that they are a fake shell front for a known serial scammer called EightCap.

Don’t be fooled by the initial reviews from new users and don’t be fooled by the nonsense that will eventually come from them.

Now, some background information, I signed up with them late last year (as I too was fooled by the reviews and the ECN front that they keep on mentioning) and everything was going well at the start. However, as soon as my account started reaching the $25,000 mark; I have noticed that my trading results (i.e. profits) were dramatically reduced and upon closer inspection; it was clear to see that they were manipulating my trades. One of their tactics is the random spikes that occur that are not even shown on their own charts (see below an example of one of my trades): they stated that the price reached 134.656 on 25th of September 2020 at 00:04 (when it never did): it was actually 134.356 . They came back with some bogus excuses about spreads (which they are manipulating by the way) but even that is not correct with spreads on that day (see figures below showing maximum spread at that time was 3.4).

View attachment 66356


View attachment 66357

View attachment 66358

The above and their connection with EightCAP shows that they trade against their clients and they are not ECN as they claim to be. It is fine for majority of traders who don't trade above a certain amount of money; but once you reach a certain limit they become aware of your withdrawals and your profits against their losses. Unlike a true ECN who do not trade against you and such they have no conflict of interest.

Thanks for reading and what ever you do...DONT use them (there are others who are good and trustworthy)....

Would be interesting to see what malarkey they will come up with in their response.

Pheniox
Below are more details. Eight Cap has the real license with MetaQuotes and is selling white labels to both Blueberry and Focus Markets. MetaQuotes is also allowing this fraud to occur. Supposedly both Eight Cap and Blueberry is under supervision by ASIC.


1624642324840.png

1624642405009.png

1624642442328.png


1624642462622.png


 

Pheniox123

Sergeant
Messages
145
Below are more details. Eight Cap has the real license with MetaQuotes and is selling white labels to both Blueberry and Focus Markets. MetaQuotes is also allowing this fraud to occur. Supposedly both Eight Cap and Blueberry is under supervision by ASIC.


View attachment 66362

View attachment 66363

View attachment 66364


View attachment 66365



Thank you so much Punisher. This is incredible and goes to show the level of deception and smoking mirrors at the heart of this. Thank you again for your impressive investigative skills (as always to the core of the issue).

thanks
Pheniox
 

RahmanSL

Major
Messages
2,845
Thanks a lot FXMaster.

I have already put a review while back but will invite Blueberry (aka EightCAP) when the invitation becomes available.

thanks
Pheniox
I have a still unfunded live trading account with Blueberry and I, like I had done for Shiro12, has informed them in an email to look into your issue and has provided a link for one of their Representative to come here at the FPA to address your issue.
Hopefully, Blueberry will resolve your issue like they had done for Shiro12.
 

Pheniox123

Sergeant
Messages
145
Thanks RahmanSL.

The main issue I find with Blueberry markets is that they are totally based on a faulty drive engine (I.e. EightCAP trading engine at the backend). The best way to describe is that it is like having a Lamborghini shell body with a moped engine…and even worse: the moped engine is faulty as well :D.

The best thing they can do is to ditch EightCAP and start a new direct platform and stop all the EightCAP tactics of swaps gaming and spread manipulation. That way their reputation will stay intact and they will thrive (especially with high value clientele).

thanks
Pheniox
 
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