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

mickaelsolomon

Recruit
Messages
9
as I guessed and as Pheniox confirmed to me, Blueberry does ask its new customers to write a review on trustpilot, facebook or FPA even though they have not even placed a single trade with them, based solely on their experience with the applications team : https://www.grade.us/blueberry-markets

although it's legal I do not think it's moral, especially that among the dozens of brokers with which I opened an account in several years this is the first time that I see that

the FPA team does an excellent job and that's why I would like them to be more careful when checking reviews, whether this is with Blueberry or with other brokers, to filter those of only 2-3 lines written by clients who do not have enough experience with their broker so as not to deceive potential future clients interested in opening an account

a beginner can easily become impressed with excellent reviews if he does not know exactly how the broker gets them...
 

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Blueberry_Markets

Blueberry Markets Representative
Messages
34
Hi Pheniox,

Thank you for expressing your concerns. We can confirm that Blueberry Markets operates under Eightcap’s licenses in each jurisdiction. This is an important consideration for all new and prospective clients.

There are, however, aspects of our operations that remain independent. This means that all trading activity takes place on Blueberry Markets' platforms, and our clients speak to Blueberry staff and account managers.

Irrespective of the entity under which you trade, we are committed to providing both fair and efficient products and services.

In this case, we note that your complaint has already been heard and resolved by the Australian Financial Complaints Authority (AFCA). A formal response was issued to you on 31 March 2021. In her Determination, the Ombudsman found that your complaint could not be substantiated.
 

Pheniox123

Sergeant
Messages
140
as I guessed and as Pheniox confirmed to me, Blueberry does ask its new customers to write a review on trustpilot, facebook or FPA even though they have not even placed a single trade with them, based solely on their experience with the applications team : https://www.grade.us/blueberry-markets

although it's legal I do not think it's moral, especially that among the dozens of brokers with which I opened an account in several years this is the first time that I see that

the FPA team does an excellent job and that's why I would like them to be more careful when checking reviews, whether this is with Blueberry or with other brokers, to filter those of only 2-3 lines written by clients who do not have enough experience with their broker so as not to deceive potential future clients interested in opening an account

a beginner can easily become impressed with excellent reviews if he does not know exactly how the broker gets them...

Thank yo Michael.

This is what they are good at; to capture people's initial experience of first couple of days and entice them to leave a review. Then by default people feel like they have to leave a review and before you know it they have loads of good reviews but with no actual experience of their platform nor the EightCAP links and tactics.

thanks
Pheniox
 

Pheniox123

Sergeant
Messages
140
Hi Pheniox,

Thank you for expressing your concerns. We can confirm that Blueberry Markets operates under Eightcap’s licenses in each jurisdiction. This is an important consideration for all new and prospective clients.

There are, however, aspects of our operations that remain independent. This means that all trading activity takes place on Blueberry Markets' platforms, and our clients speak to Blueberry staff and account managers.

Irrespective of the entity under which you trade, we are committed to providing both fair and efficient products and services.

In this case, we note that your complaint has already been heard and resolved by the Australian Financial Complaints Authority (AFCA). A formal response was issued to you on 31 March 2021. In her Determination, the Ombudsman found that your complaint could not be substantiated.

Firstly, thank you for responding and for confirming that you are technically EightCAP with a facelift. This means all the backend is EightCAP and all you guys do is the customer service and ensuring the customers are not aware of what they are actually getting themselves into (i.e. EightCAP tactics); and to refresh our memory of who EightCAP is; let's have a look at their reviews below:

1624962570161.png
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And there are literally scam alerts in reviews throughout. For anyone who wants to read more go to EightCAP review page on here.

Now that we have read through the reviews; let's look at the scam folder and what people are saying about EightCAP in those folders. And as we have guessed; it's full of scam alerts with EightCAP (who Blueberry have confirmed they work under them):

1624962926488.png

Now that we have read the above, let's discuss the AFCA complaint that I made. But before we do so; let's not kid ourselves that AFCA is an impartial entity - it is NOT and they favor the financial entities all the times (as that's who their client's are in theory).

When I started my complaint to the AFCA, that's when EightCAP instantly got in touch with me; as you guessed it again - Blueberry Markets is not registered with AFCA as standalone entity but under EightCAP (another proof that they are the same company). And they used a delay tactic in saying we are going to sort this out and let's reach an agreement bla bla bla. All this time I wasn't focusing on the requirements from AFCA; as I (foolishly and innocently) thought this matter was going to be closed promptly. After couple of days/weeks I slowly began to understand that they were not interested in any resolution and they were delaying for two reasons: 1) so I don't have enough time to provide all the details required by AFCA and secondly to ensure the 60 day chargeback limit is exhausted.

So in summary; Blueberry Markets don't think you can come here and say AFCA didn't award me what I requested as a victory for you; it is more of your games (well played by the way) by EightCAP negotiations team that made me lose track and sight of the AFCA complaint.

Pheniox
 
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TheNewbieTrader

Recruit
Messages
95
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
Hope that you sort this out!
 

quasi

Recruit
Messages
5
I would also like to thank Pheniox123 for starting this thread and everyone involved to bring light into corporations with questionable practices and the strong links between them. There are so many invaluable things to learn by following carefully the threads regarding scam alerts. Unfortunately it requires tremendous dilligence and investigation before entering any agreement and depositing money with any Broker.

I see some recurring patterns here, the "short" rip-off excursions to China, multiple companies created/different names with strong links, emphasis on reviews, and the discordance between Terms and Conditions and website slogans. I 've also come to a certain distrust towards various regulatory bodies. In some rare cases there are unregulated Brokers that would put above firms to shame.

Apparently, a clearer picture for a certain portion of your upcoming trading experience can only be found in the multitude of contracts that you digitally sign with them.
 

Pheniox123

Sergeant
Messages
140
I would also like to thank Pheniox123 for starting this thread and everyone involved to bring light into corporations with questionable practices and the strong links between them. There are so many invaluable things to learn by following carefully the threads regarding scam alerts. Unfortunately it requires tremendous dilligence and investigation before entering any agreement and depositing money with any Broker.

I see some recurring patterns here, the "short" rip-off excursions to China, multiple companies created/different names with strong links, emphasis on reviews, and the discordance between Terms and Conditions and website slogans. I 've also come to a certain distrust towards various regulatory bodies. In some rare cases there are unregulated Brokers that would put above firms to shame.

Apparently, a clearer picture for a certain portion of your upcoming trading experience can only be found in the multitude of contracts that you digitally sign with them.
Thank you quasi for your support.

The worst type of brokers are those who pretend they are something that they are not. Like our friends here @Blueberry_Markets who prey on new traders and funnel their money slowly and they do this by either trading directly against them instantly or let them have a good ride in the first month or so (just in time for them to leave a so called “positive” review) and then when they are comfortable and put more capital into their trading that’s when the spreads and manipulation starts to ensure they lose all their capital.

Well, let’s hope traders do learn from all these warnings and run a mile before they touch @Blueberry_Markets aka @Eightcap Support

thanks
Pheniox
 

Triggal

Recruit
Messages
1
Thank you quasi for your support.

The worst type of brokers are those who pretend they are something that they are not. Like our friends here @Blueberry_Markets who prey on new traders and funnel their money slowly and they do this by either trading directly against them instantly or let them have a good ride in the first month or so (just in time for them to leave a so called “positive” review) and then when they are comfortable and put more capital into their trading that’s when the spreads and manipulation starts to ensure they lose all their capital.

Well, let’s hope traders do learn from all these warnings and run a mile before they touch @Blueberry_Markets aka @Eightcap Support

thanks
Pheniox
They are an absolute fraud they decreased my account leverage while I was trading so that the margin can close my positions
 

mickaelsolomon

Recruit
Messages
9
They are an absolute fraud they decreased my account leverage while I was trading so that the margin can close my positions
you should post your own scam alert and invite the Blueberry team to it so everyone can see why they did that

anyway it's not the first time I see someone whose leverage is decreased without his consent with other (famous) brokers. 99% of the time when a broker does that it is to avoid at all cost because it means it is a b-book broker which intently messes up with your trading so it can take your losses

imo you should withdraw your funds asap and settle your case here on FPA with the Blueberry team
 
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