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

Blueberry_Markets

Blueberry Markets Representative
Messages
35
Hello everyone. Thank you, @Pheniox123 for inviting us to this thread. We have addressed your concerns a few times on these two topics, so we are posting this reply as our closing remarks on a.) Our relationship to Eightcap and b.) Your AFCA complaint.

About our relationship with Eightcap, we have always been transparent and it is explicitly mentioned on our website, our FPA profile, and even our email signatures that Blueberry Markets is an authorised representative of Eightcap. Hence, we are not “Eightcap in disguise”. This, however, does not mean that we are one company. Blueberry Markets’ operations, customer service, sales and entire backend as well technical team is separate from Eightcap. Even the products and services we offer can differ at times too, and that’s because, at the end of the day, we are two organisations operating separately, albeit the fact that one relies on the other in terms of licensing.

Furthermore, @Pheniox123’s complaint has gone through the ombudsman and was closed in our favour. Below is the decision of the ombudsman for everyone to see:

1627368807423.png

Even before the ombudsman has reached this decision, AFCA has provided ample time for the complainant to respond. The response was received, and the conclusion was as stated above. This brings an end to this complaint and the complainant cannot pursue this further. Above verdict was released on 30 March 2021.

We hope this clarifies any doubts and concerns over the issues raised by @Pheniox123. We, at Blueberry Markets, are online 24/7 on live chat, phone and email for any further questions on this review thread or topics discussed.

-Ben Clay, Blueberry Markets
 

FxMaster

Lt. Colonel
Messages
10,557
@Pheniox123, here you go....
Hello everyone. Thank you, @Pheniox123 for inviting us to this thread. We have addressed your concerns a few times on these two topics, so we are posting this reply as our closing remarks on a.) Our relationship to Eightcap and b.) Your AFCA complaint.

About our relationship with Eightcap, we have always been transparent and it is explicitly mentioned on our website, our FPA profile, and even our email signatures that Blueberry Markets is an authorised representative of Eightcap. Hence, we are not “Eightcap in disguise”. This, however, does not mean that we are one company. Blueberry Markets’ operations, customer service, sales and entire backend as well technical team is separate from Eightcap. Even the products and services we offer can differ at times too, and that’s because, at the end of the day, we are two organisations operating separately, albeit the fact that one relies on the other in terms of licensing.

Furthermore, @Pheniox123’s complaint has gone through the ombudsman and was closed in our favour. Below is the decision of the ombudsman for everyone to see:

View attachment 67232

Even before the ombudsman has reached this decision, AFCA has provided ample time for the complainant to respond. The response was received, and the conclusion was as stated above. This brings an end to this complaint and the complainant cannot pursue this further. Above verdict was released on 30 March 2021.

We hope this clarifies any doubts and concerns over the issues raised by @Pheniox123. We, at Blueberry Markets, are online 24/7 on live chat, phone and email for any further questions on this review thread or topics discussed.

-Ben Clay, Blueberry Markets
 

Pheniox123

Sergeant
Messages
160
About our relationship with Eightcap, we have always been transparent and it is explicitly mentioned on our website, our FPA profile, and even our email signatures that Blueberry Markets is an authorised representative of Eightcap. Hence, we are not “Eightcap in disguise”. This, however, does not mean that we are one company. Blueberry Markets’ operations, customer service, sales and entire backend as well technical team is separate from Eightcap. Even the products and services we offer can differ at times too, and that’s because, at the end of the day, we are two organisations operating separately, albeit the fact that one relies on the other in terms of licensing.
Hi Ben / @Blueberry_Markets ,

Firstly thank you for responding and it shouldn't have to take throwing and pulling to get you to come here to explain further your side of this. Anyhow, you say that you have always been transparent with your relationship with scam broker EightCAP - first of all you have not been always transparent and when I signed up with you you hid this fact behind a wall of fancy slogans and friendly customer service and I only found that out once I have already funded my account and was surprised then that you was in fact EightCAP in disguise. And it's laughable for you to come here and say you were transparent and even to this day you are not transparent and claim your operation is different than EightCAP when it is not...you use EightCAP trading engine and hence every single trade goes through the same manipulation and tactics that EightCAP is known for (see below an example of who you are dealing with):

1627628740515.png

Also, while we are at it; EightCAP was originally Roco Forex (who are a know scam brokers that took traders money and disappeared). So from the below, you can see that EightCAP itself was a rebranding excercise from Roco Forex and now Blueberry Markets @Blueberry_Markets is a rebrand of EightCAP. The same scam keeps on happening even couple of years to lure more unsuspecting traders.

1627628234892.png

Also, all the people running Blueberry Markets came from Axitrader who also have the same bad reviews as EightCAP and all state the same thing (price manupulation, spread manuipulation, etc.):

1627628476282.png

1627628646857.png


Furthermore, @Pheniox123’s complaint has gone through the ombudsman and was closed in our favour. Below is the decision of the ombudsman for everyone to see:

View attachment 67232



-Ben Clay, Blueberry Markets

And this part about AFCA doesn't prove anything. They just double-checked my trade statement (created by you ) with the spreadsheet you provided. It says clearly that the chart does not match the data provided by you and this is exactly what we are saying here (you make the prices as you go along as you are not an ECN broker and trade against your clients to make your profit).

Also, and even with your manipulation the regulator says that I would have received a margin call at a later stage and you forgot to mention what they also said: "unless there was a capital injection to increase the account equity"...so you 1) Manipulate your prices to achieve a certain goal 2) close my trades without issuing me with any warning and even before I hit any critical point.

Furthermore, you continue to mislead people by saying you are an ECN broker when you are not. You did so to me and lured me into signing up with you and in the first few couple of weeks everything was ago and trade execution was fine then once I placed substantial equity in there and was making good profit you turned your tactic tap on and then the execution of the trades changed rapidly with wildly inflated prices and slow execution (compared to other true ECN brokers) and it shows you/EightCAP was up to your old tactics again.

Finally, I will keep on exposing @Blueberry_Markets and will use this thread to be a light peacon for all those who were on the verge of being mislead by these the same shady brokers who change their name every couple of years (from Roco Forex to EightCAP to now Blueberry Markets).
 

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RahmanSL

Major
Messages
2,848
@Pheniox123 ...I can't help but be impressed with your investigation skill. Honestly, as I might have mentioned somewhere, I did signed-up and opened a live account with Blueberry and was literally on the verge of funding it but stopped due to your very timely post. Thank you very much my friend.

In my reply to your PM to me, "So, in a nutshell, there really are no super best Broker out there and it's a matter of preference on what you looking for in a Broker. BUT do go with a well regulated Broker because they are less likely to scam you." holds so true as one of the supposedly ASIC regulated broker (Moderator forbid me from mentioning names of other brokers in a post about a different broker, but it was one I almost gave my recommendation to you but thankfully didn't) that I have been with and am still using have started some unusual activities on my trading account. The daily positive swaps have suddenly turned negative daily swap while the daily negative swap, as can be expected, kept on increasing consistently. That is very stressing to me because now I cannot rely on the once-upon-a-time daily positive swaps to off-set some of the daily negative swaps and the accumulated positive swap values are decreasing daily. In all my years of trading, I have never ever encounter such a sudden turn of events unless of course the base currency, in my case US$, decrease or increase in interest rate which of course has not happened either way. I have written to that broker about the issue but have not received a satisfactory explanation yet but the normal run around kind of reply about their liquidator provider and bla-bla-bla. If the issue is not resolved soon, I will start a post here at the FPA to hopefully get some sensible explanations from some people here who have better knowledge on the subject than myself.

I do hope Blueberry will consider coming to some compromise with you to bring your issue to a win-win situation.
Good luck and all the best!
 
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Pheniox123

Sergeant
Messages
160
@Pheniox123 ...I can't help but be impressed with your investigation skill. Honestly, as I might have mentioned somewhere, I did signed-up and opened a live account with Blueberry and was literally on the verge of funding it but stopped due to your very timely post. Thank you very much my friend.

In my reply to your PM to me, "So, in a nutshell, there really are no super best Broker out there and it's a matter of preference on what you looking for in a Broker. BUT do go with a well regulated Broker because they are less likely to scam you." holds so true as one of the supposedly ASIC regulated broker (Moderator forbid me from mentioning names of other brokers in a post about a different broker, but it was one I almost gave my recommendation to you but thankfully didn't) that I have been with and am still using have started some unusual activities on my trading account. The daily positive swaps have suddenly turned negative daily swap while the daily negative swap, as can be expected, kept on increasing consistently. That is very stressing to me because now I cannot rely on the once-upon-a-time daily positive swaps to off-set some of the daily negative swaps and the accumulated positive swap values are decreasing daily. In all my years of trading, I have never ever encounter such a sudden turn of events unless of course the base currency, in my case US$, decrease or increase in interest rate which of course has not happened either way. I have written to that broker about the issue but have not received a satisfactory explanation yet but the normal run around kind of reply about their liquidator provider and bla-bla-bla. If the issue is not resolved soon, I will start a post here at the FPA to hopefully get some sensible explanations from some people here who have better knowledge on the subject than myself.

I do hope Blueberry will consider coming to some compromise with you to bring your issue to a win-win situation.
Good luck and all the best!
Hi Rahman,

Thank you for your kind words and for your support.

I am so glad that you got out before you funded your account with Blueberry Markets; as you would have been directly giving your money away to EightCAP, and we all know what happens next.

I have a good broker that I have been using (not sure I mentioned them in our previous conversations) and can share with you privately (their execution and everything else has remained intact throughout with no gimmicks and the usual tactics by the likes of @Blueberry_Markets .

Have a great day and I truly hope this thread makes all traders aware of these scammers and their tactics.

thanks
Pheniox
 

Blueberry_Markets

Blueberry Markets Representative
Messages
35
@Pheniox123 Our response to this thread is based on our closing remarks in post #41, specifically clarifying incorrect statements made regarding who we are and how we operate. We have added all details and a copy of the verdict from AFCA once again here.

As mentioned previously and across all our legal documentation and advertising, we are an authorised representative of Eightcap. We are not Eightcap, nor are we "Eightcap in disguise". As an authorised representative, we have segregation of operational business units and can have different products and service offerings.

Our pricing comes from liquidity providers and is fed directly to the platforms, so we do not have any control over pricing. Your trades, on the other hand, would not just close without getting a margin call— that is the cue for a trader to top up and increase equity. Legal documents that you acknowledged during your application cover this in various sections.

Lastly, ECN is a subjective term that is very much open to interpretation. It is a technical term used to describe how banks and liquidity providers work together to formulate pricing. We utilise an ECN pricing model and we neither manually process nor intervene with any client’s trades.

However, as covered in response to the other thread, we have taken feedback on this matter very seriously and removed any and all mention of ECN from our website and product offering section and continue to monitor referral websites’ content regarding this term.

To be completely honest, it's been very hard for me to constantly read these comments. It's also hard not to take it personally as I have been so involved in Blueberry’s growth. We have worked really hard to get to where we are, by giving amazing service across the board, and to read comments that I personally know are not true, has been taxing to say the least.

I know there are a lot of bad brokers out there, but we are genuinely trying to be different. @Pheniox123 I know you have felt hard done by, but we went through every single process to resolve this, the last step being addressing the matter with the ombudsman, who ruled in our favour.

If it were the other way around, we would have gladly dealt with the result accordingly, and we would have left it there. I urge you to do the same, please.

For anyone else in this thread, I am happy to personally speak to you on video chat and go over any concerns you have, as I hate to think there are people out there who believe everything they read on these forums, especially this thread.

Once again, we encourage any questions that may arise for readers of this thread. We are online 24/7 on live chat, phone and email, and would be happy to have a chat.

Sincerely,
Ben Clay
 

FxMaster

Lt. Colonel
Messages
10,557
@Pheniox123 Our response to this thread is based on our closing remarks in post #41, specifically clarifying incorrect statements made regarding who we are and how we operate. We have added all details and a copy of the verdict from AFCA once again here.

As mentioned previously and across all our legal documentation and advertising, we are an authorised representative of Eightcap. We are not Eightcap, nor are we "Eightcap in disguise". As an authorised representative, we have segregation of operational business units and can have different products and service offerings.

Our pricing comes from liquidity providers and is fed directly to the platforms, so we do not have any control over pricing. Your trades, on the other hand, would not just close without getting a margin call— that is the cue for a trader to top up and increase equity. Legal documents that you acknowledged during your application cover this in various sections.

Lastly, ECN is a subjective term that is very much open to interpretation. It is a technical term used to describe how banks and liquidity providers work together to formulate pricing. We utilise an ECN pricing model and we neither manually process nor intervene with any client’s trades.

However, as covered in response to the other thread, we have taken feedback on this matter very seriously and removed any and all mention of ECN from our website and product offering section and continue to monitor referral websites’ content regarding this term.

To be completely honest, it's been very hard for me to constantly read these comments. It's also hard not to take it personally as I have been so involved in Blueberry’s growth. We have worked really hard to get to where we are, by giving amazing service across the board, and to read comments that I personally know are not true, has been taxing to say the least.

I know there are a lot of bad brokers out there, but we are genuinely trying to be different. @Pheniox123 I know you have felt hard done by, but we went through every single process to resolve this, the last step being addressing the matter with the ombudsman, who ruled in our favour.

If it were the other way around, we would have gladly dealt with the result accordingly, and we would have left it there. I urge you to do the same, please.

For anyone else in this thread, I am happy to personally speak to you on video chat and go over any concerns you have, as I hate to think there are people out there who believe everything they read on these forums, especially this thread.

Once again, we encourage any questions that may arise for readers of this thread. We are online 24/7 on live chat, phone and email, and would be happy to have a chat.

Sincerely,
Ben Clay
@Pheniox123, here you go..........
 

Pheniox123

Sergeant
Messages
160
Ben Clay @Blueberry_Markets , thank you at least for coming back here but unfortunately you haven't answered any of the red flags mentioned in my original post about your Blueberry Markets scam operations. I will respond to each of your points in your message (which is what I expected from your reply; not just a fluff of words).

As mentioned previously and across all our legal documentation and advertising, we are an authorised representative of Eightcap. We are not Eightcap, nor are we "Eightcap in disguise". As an authorised representative, we have segregation of operational business units and can have different products and service offerings.

The above is not correct, YOU ARE EIGHTCAP. So when you say your operations are different that is misleading. You do not offer anything new; your so called "operations" are only the front end side like the slick customer service team you have (in order to capture good reviews early on before you turn your tactics on - see below) and all trading is carried via EIGHTCAP; you don't have your own trading engine nor actual back end; you are merely a facelift to a doggy broker that was also a facelift to an old even doggier and scam broker (see below again as you have not responded to what has been raised previously).

Tactics Blueberry Markets @Blueberry_Markets use to get reviews (the below was sent within the first couple of weeks with pretty much a bribe to leave a review, followed by another nagging email further down the line to remind you to leave them a good review) :

1628945317741.png


Blueberrymarkets Scam broker IS EIGHTCAP who are also ROCO Forex (see below again as Ben @Blueberry_Markets you seem to miss a lot from my previous post (thank you @The Punisher for the below). EightCap has the real MT license and is selling white label licenses to Blueberry Markets.

1628946299117.png

1628945773045.png

Our pricing comes from liquidity providers and is fed directly to the platforms, so we do not have any control over pricing.

Again, the above is not correct. You may it as if you are bystanders and do not actually produce the market that your clients so-called trade in. You are the market makers and do what you like with the prices. Even your legal documents (see below) says a merely "may"; which never happens and again if you are the counterpart side (i.e. the side that trades against the client; then why would you even entertain the idea of reaching out to liquidity providers when you know that you manipulate the prices so you win and the client lose):

1628946985336.png


Your trades, on the other hand, would not just close without getting a margin call— that is the cue for a trader to top up and increase equity. Legal documents that you acknowledged during your application cover this in various sections.

Here is the kicker Ben @Blueberry_Markets ; I DID NOT receive a margin call not on your scam EIGHTCAP portal nor via email (like other reputable brokers send). The reason for this is that 1) You didn't want me to find out what was going on with your price manipulation tactics until it is too late; as I could have added more money to sustain any fictional spikes from your end and then withdrew all my money (now that I knew you was a scam broker and just wanted me to lose regardless). 2) My account was never in margin call territory in the first place; and this confirms the fact that you did something in the background to ensure my trades were killed off when the prices don't even show on your own chart (see below again):

1628947400499.png

Lastly, ECN is a subjective term that is very much open to interpretation. It is a technical term used to describe how banks and liquidity providers work together to formulate pricing. We utilise an ECN pricing model and we neither manually process nor intervene with any client’s trades.

However, as covered in response to the other thread, we have taken feedback on this matter very seriously and removed any and all mention of ECN from our website and product offering section and continue to monitor referral websites’ content regarding this term.

Now, this part is laughable. Whenever you hear someone say "open for interpretation" then you know a lie is going to be said or even worse a lame excuse is going to come out. ECN is not a word that is so complex as you make it; it means simply that you are either a Market Maker (i.e. trade against your clients such as yourself/Blueberry Markets @Blueberry_Markets ) or an honest broker that traders can directly be in the actual trading market with everyone else (i.e. they don't trade against their clients and make the fictional market for them). Below is a simple Google explanation:

1628947816600.png

However, as covered in response to the other thread, we have taken feedback on this matter very seriously and removed any and all mention of ECN from our website and product offering section and continue to monitor referral websites’ content regarding this term.

Correction: it wasn't another normal thread; it was another SCAM thread by another trader who has experienced the same tactics and manipulation that I have received from your end. And simply coming on here to say we have removed ECN from our website is more of a legal covering our @ss approach than anything else. I have signed up with you when you were shouting from the rooftops that you are an ECN broker and would have never signed up to you if you didn't have that term and slogan on your website.

To be completely honest, it's been very hard for me to constantly read these comments. It's also hard not to take it personally as I have been so involved in Blueberry’s growth. We have worked really hard to get to where we are, by giving amazing service across the board, and to read comments that I personally know are not true, has been taxing to say the least.

I know there are a lot of bad brokers out there, but we are genuinely trying to be different. @Pheniox123 I know you have felt hard done by, but we went through every single process to resolve this, the last step being addressing the matter with the ombudsman, who ruled in our favour.

If it were the other way around, we would have gladly dealt with the result accordingly, and we would have left it there. I urge you to do the same, please.

Sincerely,
Ben Clay

Well, it's hard for me to lose tens of thousands of dollars to a fault not by my own making, and hence why I am here to ensure all these traders don't fall for the same trap. You say you "constantly" read these issues on here about your Blueberry Markets @Blueberry_Markets then what does that tell you? It tells you that the issue is within your company (AKA EIGHTCAP); you might think the customer services side (which is what you guys do) can eliminate the issues, but it doesn't. The core issue is the trading engine you are bolted on (EIGHTCAP) and as long as you have a flawed engine that uses tactics to manipulate prices to ensure your clients lose money and you make a profit because of that then these issues will never end, and matter of fact more and more traders will get to know how of a scam broker you are.

And you didn't go through any resolutions with me (so don't kid yourself); I had to drag you guys to the regulator and that is the only time when some sort of interaction (funnily enough from EIGHTCAP and you sit here saying you are not the same company) regarding resolution came across. Sadly, it was all smoking mirrors to ensure I waste time and not provide as much details to the regulator by the time limit and also to ensure that the chargeback from my bank is not initiated in time.

1628948737610.png


Thank you to all the FPA for the support and for reading this thread; I will continue to update with any further information I find about this scam broker AKA @Blueberry_Markets AKA @Eightcap Support AKA ROCO FOREX AKA (God knows what new name they will produce in the coming year or two).

Pheniox.
 
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