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

Bluefish

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Just adding my two cents here to this whole conversation, complaint and etc etc etc.
As an experienced trader and with a good foundation knowledge of how CFD brokers works, I want to add to this conversation here so everybody here can understand, even blueberry market reps.
* Note I am not on any one side but I will give you facts and the rest of you can judge it your self.
I only stumbled on this page because I was investigating why Blueberry Markets have so many positive reviews.
After reading the first page and the last page I had a giggle and wanted to reply you, the trades, the supposed stop hunt, why you did not get margin call email, and 8 cap stuff.
1. Your sell order was stopped because your trades were caught by the spreads, that is obvious.
A sell order must be triggered by the ASK price which is not shown in MT4 charts, MT4 only shows Bid price (134.356) The ASK price may be at 134.656 I do not know, but there is every possibility.
2. Why possible? Your trades were stopped at market open at 00.04.00 so 3 mins aftermarket open
So there could be gapping, New York to New Zealand rollover the period, the spreads can widen even for Majors. 20 pips are not rare, you should ask for Tick Data from Blueberry instead of writing something that any experienced trader would know you are not experienced. And stop using a 1M chart to show your reasoning, if you use a 1H chart the movement is not much.
3. You over leveraged your account gambling that trades will go your way, you can tell simply because you were stopped out and it looked like every after 2 other trades were closed from margin stop you still didn't have enough capital in your account to hold the 2 lot positions on GBPJPY. Do you know gapping can occur even on a weekday not only after weekends? JPY is volatile very sensitive to fundamentals.
4. Why you did not receive Margin Call email? Firstly, it would be of no use, you were stopped out within 3 minutes of markets open, you would not have time to fund your account or do anything. But the reason why you did not receive the margin call email, because the market moved too fast to trigger Margin Stop out therefore Margin Call email was not sent. Most MT4 is designed this way, not just BlueBerry Market, all MT4 platform is designed this way, you most likely will not receive the Margin call email by that design. Most likely Blueberry markets will have in their terms and conditions for you to monitor your own trades as Margin Call emails are not guaranteed. But on this occasion, your trades had put you in such a bad position within a minutes market jumped on ASK price you got stopped almost instantly most likely.
5. As for if blueberry markets is a market maker? 100% in theory, because you can not get an ECN license in Australia for CFD brokers, only a Market Maker license. They should not advertise ECN because true ECN is like a stockbroker, they use liquidity providers, such as Citadel (Market Maker). They should only advertise STP, but they write it as ECN/STP because the word ECN is so popular. Whats STP? Basically when you sell they hedge your trades against another customer who is buying in the pool of clients. And if you are bad trader possibly they also hedge against you. They may have a risk team that does that to make extra profit depends on how much of a bad trader you are.
6. They are renting 8 cap license, it does not mean they are using 8 cap liquidity providers, products and services. I have not researched them enough to make a judgment.
All I can say is they are renting the license because an ASFL is hard to come by. They might be using all 8 cap stuff or not, keep in mind, also by your chart of comparing spreads and markets. Most liquidity providers are very similar to stay competitive.
So inclusion, yes Blueberry markets is market maker, in fact all ECN advertised brokers IC Markets, Axitrader, etc they are all Market Maker brokers because they use a liquidity provider and they are market makers.
But you say they stop hunt? No, they did not, you are just a bad trader and a sore loser and does not want to accept losses and forget the fundamentals of how Bid and Ask pricing works and how MT4 works. (Sorry to be harsh but that is what I see here)
Lastly, yes you can manipulate trades on MT4 via a plugin, but that would affect all trades on the same server, and to be honest, if a broker wants to ruin their reputation over your $2000 then they are stupid.
Feel free to leave me feedback if you think I am wrong and I be happy to reply.

Thanks for the good laugh, I see this alot.
 

Bluefish

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31
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).



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) :

View attachment 67932


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.

View attachment 67934

View attachment 67933



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):

View attachment 67935




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):

View attachment 67936



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:

View attachment 67937



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.



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.

View attachment 67938


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.
@Pheniox123 The above reply was for you by the way, if you are still confused feel to comment :)
 

Pheniox123

Sergeant
Messages
162
Just adding my two cents here to this whole conversation, complaint and etc etc etc.
As an experienced trader and with a good foundation knowledge of how CFD brokers works, I want to add to this conversation here so everybody here can understand, even blueberry market reps.
* Note I am not on any one side but I will give you facts and the rest of you can judge it your self.
I only stumbled on this page because I was investigating why Blueberry Markets have so many positive reviews.
After reading the first page and the last page I had a giggle and wanted to reply you, the trades, the supposed stop hunt, why you did not get margin call email, and 8 cap stuff.
1. Your sell order was stopped because your trades were caught by the spreads, that is obvious.
A sell order must be triggered by the ASK price which is not shown in MT4 charts, MT4 only shows Bid price (134.356) The ASK price may be at 134.656 I do not know, but there is every possibility.
2. Why possible? Your trades were stopped at market open at 00.04.00 so 3 mins aftermarket open
So there could be gapping, New York to New Zealand rollover the period, the spreads can widen even for Majors. 20 pips are not rare, you should ask for Tick Data from Blueberry instead of writing something that any experienced trader would know you are not experienced. And stop using a 1M chart to show your reasoning, if you use a 1H chart the movement is not much.
3. You over leveraged your account gambling that trades will go your way, you can tell simply because you were stopped out and it looked like every after 2 other trades were closed from margin stop you still didn't have enough capital in your account to hold the 2 lot positions on GBPJPY. Do you know gapping can occur even on a weekday not only after weekends? JPY is volatile very sensitive to fundamentals.
4. Why you did not receive Margin Call email? Firstly, it would be of no use, you were stopped out within 3 minutes of markets open, you would not have time to fund your account or do anything. But the reason why you did not receive the margin call email, because the market moved too fast to trigger Margin Stop out therefore Margin Call email was not sent. Most MT4 is designed this way, not just BlueBerry Market, all MT4 platform is designed this way, you most likely will not receive the Margin call email by that design. Most likely Blueberry markets will have in their terms and conditions for you to monitor your own trades as Margin Call emails are not guaranteed. But on this occasion, your trades had put you in such a bad position within a minutes market jumped on ASK price you got stopped almost instantly most likely.
5. As for if blueberry markets is a market maker? 100% in theory, because you can not get an ECN license in Australia for CFD brokers, only a Market Maker license. They should not advertise ECN because true ECN is like a stockbroker, they use liquidity providers, such as Citadel (Market Maker). They should only advertise STP, but they write it as ECN/STP because the word ECN is so popular. Whats STP? Basically when you sell they hedge your trades against another customer who is buying in the pool of clients. And if you are bad trader possibly they also hedge against you. They may have a risk team that does that to make extra profit depends on how much of a bad trader you are.
6. They are renting 8 cap license, it does not mean they are using 8 cap liquidity providers, products and services. I have not researched them enough to make a judgment.
All I can say is they are renting the license because an ASFL is hard to come by. They might be using all 8 cap stuff or not, keep in mind, also by your chart of comparing spreads and markets. Most liquidity providers are very similar to stay competitive.
So inclusion, yes Blueberry markets is market maker, in fact all ECN advertised brokers IC Markets, Axitrader, etc they are all Market Maker brokers because they use a liquidity provider and they are market makers.
But you say they stop hunt? No, they did not, you are just a bad trader and a sore loser and does not want to accept losses and forget the fundamentals of how Bid and Ask pricing works and how MT4 works. (Sorry to be harsh but that is what I see here)
Lastly, yes you can manipulate trades on MT4 via a plugin, but that would affect all trades on the same server, and to be honest, if a broker wants to ruin their reputation over your $2000 then they are stupid.
Feel free to leave me feedback if you think I am wrong and I be happy to reply.

Thanks for the good laugh, I see this alot.

Hi Blueberry (sorry Bluefish),


First of all thank you for coming onto here; and I am glad that you have come out of the woodworks and used your first or so posts on my thread (I feel privileged).

I will respond to each point you have put in (unlike your favourite broker @Blueberry_Markets ):

1. You mention the spreads; but if you read my first post on here – the spreads never reached anywhere close to what Blueberry Markets (@Blueberry_Markets ) have put into their shady system. All the other brokers didn’t have such crazy spreads except them. I love the way you say the “The ASK price may be at 134.656 I do not know, but there is every possibility” – the key element in your assessment is YOU DON’T KNOW – so if you don’t know and I clearly showed what the price was and the maximum spread in all charts has not even reached close to the price given by scammer Blueberry Markets.

2. I did ask your scam broker Blueberry Markets (@Blueberry_Markets ) for the tick data and they came up with nonsense that did not match any pricing on any broker. And 1M chart was used to show the exact point in time my friend; now you are showing your lack of understanding.

3. How the hell can you say I was over leveraged and I was gambling; I wasn’t gambling and you can’t make such a statement out of thin air. Furthermore, I got stopped out due to your scam broker Blueberry Markets and my capital was able to outstand any spikes that are legitimate (not like the crazy spreads that NO OTHER broker has shown).

4. Correction: how do you know I would not have been able to fund my account? Firstly, you make all those nonsense assumptions about my account and my financial balance; and your excuse of me not receiving a margin call email is laughable. I didn’t get a margin call email as it was manipulated; they didn’t want me to receive the email, as I would have instantly put another 20K to kill off any further manipulations from their side. Every broker I have used has always sent a margin call email except your scam broker Blueberry Markets (even the AFCA acknowledged that they have not sent the margin call email).

5. All the waffle you spouted out here is irrelevant; the key point is they trade against their traders and hence make money when you lose and that is in direct conflict of the trader’s interest. Hence blueberry markets are Market Makers and scammers.

6. They are 8 CAP; they don’t have any of their own trading platforms/background engine; and again your own assertion “I have not researched them enough to make a judgment” so why come on here and attack me and my research of you haven’t done any research – you should go back to your so called professional trading business.

Finally, you called me a sore loser but you seem like the loser who spent so much time on here coming with nonsense trying to defend your scam Blueberry Market broker…like I said; focus on your “professional trading” and let me and my 2000 trade a “piece” do the bad trading…(now go and do the math; so you can see what numbers I am playing with).

Thanks

Pheniox
 
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Bluefish

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Hi Blueberry (sorry Bluefish),


First of all thank you for coming onto here; and I am glad that you have come out of the woodworks and used your first or so posts on my thread (I feel privileged).

I will respond to each point you have put in (unlike your favourite broker @Blueberry_Markets ):

1. You mention the spreads; but if you read my first post on here – the spreads never reached anywhere close to what Blueberry Markets (@Blueberry_Markets ) have put into their shady system. All the other brokers didn’t have such crazy spreads except them. I love the way you say the “The ASK price may be at 134.656 I do not know, but there is every possibility” – the key element in your assessment is YOU DON’T KNOW – so if you don’t know and I clearly showed what the price was and the maximum spread in all charts has not even reached close to the price given by scammer Blueberry Markets.

2. I did ask your scam broker Blueberry Markets (@Blueberry_Markets ) for the tick data and they came up with nonsense that did not match any pricing on any broker. And 1M chart was used to show the exact point in time my friend; now you are showing your lack of understanding.

3. How the hell can you say I was over leveraged and I was gambling; I wasn’t gambling and you can’t make such a statement out of thin air. Furthermore, I got stopped out due to your scam broker Blueberry Markets and my capital was able to outstand any spikes that are legitimate (not like the crazy spreads that NO OTHER broker has shown).

4. Correction: how do you know I would not have been able to fund my account? Firstly, you make all those nonsense assumptions about my account and my financial balance; and your excuse of me not receiving a margin call email is laughable. I didn’t get a margin call email as it was manipulated; they didn’t want me to receive the email, as I would have instantly put another 20K to kill off any further manipulations from their side. Every broker I have used has always sent a margin call email except your scam broker Blueberry Markets (even the AFCA acknowledged that they have not sent the margin call email).

5. All the waffle you spouted out here is irrelevant; the key point is they trade against their traders and hence make money when you lose and that is in direct conflict of the trader’s interest. Hence blueberry markets are Market Makers and scammers.

6. They are 8 CAP; they don’t have any of their own trading platforms/background engine; and again your own assertion “I have not researched them enough to make a judgment” so why come on here and attack me and my research of you haven’t done any research – you should go back to your so called professional trading business.

Finally, you called me a sore loser but you seem like the loser who spent so much time on here coming with nonsense trying to defend your scam Blueberry Market broker…like I said; focus on your “professional trading” and let me and my 2000 trade a “piece” do the bad trading…(now go and do the math; so you can see what numbers I am playing with).

Thanks

Pheniox
Hello @Pheniox123,

Received an email that you replied to my post, I was excited to see what you have to write so I dispute.

Now let's see, firstly to automatically accuse me of Blueberry Markets just shows your immaturity in this matter.

Again I want to remind you that I have nothing against people complaining about brokers if it is legitimate, or a learning process. However, in your case, it is clear you are at fault and you are refusing to accept the losses, trying to blackmail the broker via Forex Peace Army (people do that because they think they can get money back), then AFCA and EVEN with the Australian Financial Government body ruled against you with evidence, you deem AFCA to be corrupt, now think about that for a second everyone and @FxMaster I advise you to review negative posts when it been proven otherwise.

1. Bluefish nickname was automatically generated for me when I signed up, I did not make it myself back in 2017. So no, I am not from Blueberry or associated with them in any way, you can believe it or not I do not care because your head is so stuck up that you did nothing wrong and know all your stuff.
Now, all brokers dealing desk or non dealing desk brokers have spreads widen (Yes sometimes 30 pips even on majors I have seen during my trading experience) during market roll over session. What you showed does not representation of true spreads tick by tick and the tools you used are not accurate.

2. Glad you received tick data from them, again let me remind you I am not associated with them in any way, and to falsely accuse someone of being part of another association I am sure there are rules against that.
- Now tick data from broker should not be the same, no brokers will have the same spreads.
- Even through I do not know their spreads, but I know it is possible. However you state you used other broker's (Oanda's) 1 Minute chart to prove your point, but it clearly says the chart is on Daily (1d)
 

Bluefish

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31
1630842771665.png

Now the issue with this chart it does not show the pricing only the spreads, so it is an unfair presentation.
Also I think Oanda is a Dealing Desk broker (True market marker), so their set their own pricing. They might have tighened their spreads but it would mean cost of trading with them be higher to cover the tight spreads. That is the real difference, ECN(Non dealing desk broker) They just get their spreads from their LPs, so the cost of trading is cheaper compared to Deal desk brokers, advantage of dealing desk brokers they can offer tighter spreads during roll over for example because they control the prices but you be paying a premium.

3. I can say you are over leveraged because you got stoppd out with only 5 trades, 3 profitable trades (Sell trades) got closed by Margin stop out samtime as the 2 GBPJPY (Sell) orders, as shown on your own screenshot.
Based on your screenshot even with 3 profitable trades and you got stopped (to free up margin) by 2 trades going against you meant that the volume size of 2.0 (1 trade alone) is too much of a risk factor to the size of your account. Now also you lost $2900 usd or aud not sure, just on the 2 lots it self that would of been approx $700 USD, just based on that info your trades are 20% to 30% of your free margin at the time. You were over confident with the 3 sell trades going your way and believed the 2 buys, lets not even talk about the other GBPJPY sell order that also got stopped out which you did not show, but regardless that 1 trade alone was too much for your account balance. (FYI, I learnt this the hard way my self years ago, it is a hard lesson but I did not blame anyone but my self)

4. If you think you can fund your account within 3 minutes? I highly doubt that, based on you screenshot you marked it at 00:04 (4 minutes into new trading day), market opens at 00:01. Even if the margin call email was sent to you at 00:01, even if you get the email instantly you will have hard time to log into your account put in your card details and fund the appropriate amount in less than 3 mintues. Let's not say sometimes emails there is a delay in receving emails, usually 10 seconds, then 10 more seconds atleast for you to read the email to understand the situation. So no, I do not think you have enough time to fund.
Now about the margin call emails, I have explained to you why it may not have sent. As I explained because the market moved against you so quickly, you were margin stopped out so quickly it by pass that email. Unfortately that is how the Metaquote MT4 is designed by default, some brokers may have their own system. Now 1 reason why AFCA ruled against you (even when margin call email was not sent) is because 1. They are not obligated to, 2. All brokers have a clause in their Product Disclosure Statement (PDS), and it all states it is communicated via platform (That means when its margin called MT4 will display it in red on screen that you are margin called) and that it is your responsiblity to monitor your trades. Here is a screenshot of Blue berry market's PDF I found:
1630844554937.png
Here is one from IC Markets
1630844648627.png

5. I am not even going to brothered to reply to that, you are just accusing mindlessly without proper evidence, and not accepting your losses.

6. Without digging into what Blueberry agreement with 8Cap I cannot say if they are using 8cap platforms or not. I am not attacking you, I am giving you information on how licensing works but you are blindly accusing and that is your problem, refusing to learn.
Blueberry can pay 8Cap a fee to borrow their license so they can open their own brokerage, because ASFL is required.
Blueberry market can then either use their platforms or whitelabel it and use their own liquidty providers.
It amazes me that people here autmatically just think brokers are fraud just because they pay a fee to use other companies with ASFL.
But the main point is, why does it matter? You were stopped by legitamate spreads and pricing. Even AFCA ruled against you. Are you accusing ASIC and AFCA a tier 1 regualtor in the world is corrupt?
You posting article of police raiding 8Cap office, how do you think that happen? It's through AFCA and ASIC investigation, and now you say they are corrupt just because they ruled against you? What a hyporcite.

Lastly, as I mentioned to you at the very start. I came across this post by accident, as I was investigating why is blueberry markets have such high FPA reviews which is irregular. But I also like to educate people, and you seemed like need some education.
I never said I was a professional trader, I am an experienced one.
And if say you do 2000 trade a piece ? (Is that dollar value per trade?) and see what numbers you are playing with? Well if that is the case you are definately over leveraged per trade when you were stopped out at $2900 USD loss (That really made me laugh).
You can bull$hit to other new traders about your experience and your complaints, but someone with some experience you just look like a fool. And 100% a sore loser based on these posts and your mindless false evidence posting.

Please enlighten me further, I would like to educate you more. But I really hope you learnt your mistake.
I really hope all those who are reading this post can understand the situation too.

Anyways peace out! :)
 

Glastonburyk

Corporal
Messages
91
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
Love the lambo reference
 

Bluefish

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Messages
31
@Glastonburyk That is actually a terrible reference. Should have been the other way around.
MT4 is the engine (The platform) 8cap is the shell, (License to use it).
But what would I know, I am only using logic here.

@Pheniox123 I woke up just then hoping to see some fantastic rebuttal from you, but I was disappointed with some 'HaHa' emojis.
That just showed you have no argument with what I have said, either most or if not all is correct.

But just for A KICKER (Like what you like to say), I took the liberty to take a screenshot of a Live account with Fusion markets on GBPJPY. 00:47 server time (which is 46 minutes into the market opening because FX market usually opens at 00:01). Please see the screenshot of a 4H chart

Notice that the red line (ASK price) is at 152.295 ? and the grey line (BID price) is at 152.095. So use your brain now, that is a 20 pip spread correct? 152.295 - 152.095 = 0.200 = 200 points = 20 pips.
That is the spread 46 minutes after the market opens, now imagine just 2 or 3 minutes when the market opens! The spreads would have been wider! There is every chance it hit 30 pips at the very start when there is minimal liqduity.
1630882475950.png

Are you saying as long as brokers have a 30 pip spreads they are scammer? Come on buddy, remove that screw from your head.

And I hope everyone who read this will learn too, because clearly evidently and ruled against by AFCA Phenoix123 was wrong and he can not accept the losses and start to use forum to make him self feel good and give brokers a bad name from his own terrible understanding on the markets. And I am just buffled by all those who praise him for his investigation? All he did was a google research on the ASFL and 8cap asic related, anyone can do that.

Please learn from your mistake pheonix, don't over leverage your self and then blame the broker when your account busted when trade move against you.


Peace out :)
 

Bluefish

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Messages
31
Oh btw, I have used them myself, I busted my account there for $3000 a few years back. I signed up because of the good reviews and I want to check them out. (I did not blame them, my EA did not work as expected)

Their spreads are alright, not the best.
They do not have a huge range of products to trade with.
Their customer service I say is one of the google ones.
They are not the cheapest.
I give them about 7/10 if you want to trade purely FX.
 

HMAFX

Private
Messages
16
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

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
it seems that you do not know anything about forex
Sell orders close at Ask price
in the pictures you attached in first post it is clear that your orders closed at rollover time
for your information on all brokers with variable spreads , at this time the spreads get wide and you see BID price on chart so when your order is Sell and it close at this time , you see that the orders closed at a price that you can not see it on chart

as I checked your case there were nothing wrong with your account or orders
stop complaining and start reading and learning
 

Pheniox123

Sergeant
Messages
162
Hello @Pheniox123,

Received an email that you replied to my post, I was excited to see what you have to write so I dispute.

Now let's see, firstly to automatically accuse me of Blueberry Markets just shows your immaturity in this matter.

Again I want to remind you that I have nothing against people complaining about brokers if it is legitimate, or a learning process. However, in your case, it is clear you are at fault and you are refusing to accept the losses, trying to blackmail the broker via Forex Peace Army (people do that because they think they can get money back), then AFCA and EVEN with the Australian Financial Government body ruled against you with evidence, you deem AFCA to be corrupt, now think about that for a second everyone and @FxMaster I advise you to review negative posts when it been proven otherwise.

1. Bluefish nickname was automatically generated for me when I signed up, I did not make it myself back in 2017. So no, I am not from Blueberry or associated with them in any way, you can believe it or not I do not care because your head is so stuck up that you did nothing wrong and know all your stuff.
Now, all brokers dealing desk or non dealing desk brokers have spreads widen (Yes sometimes 30 pips even on majors I have seen during my trading experience) during market roll over session. What you showed does not representation of true spreads tick by tick and the tools you used are not accurate.

2. Glad you received tick data from them, again let me remind you I am not associated with them in any way, and to falsely accuse someone of being part of another association I am sure there are rules against that.
- Now tick data from broker should not be the same, no brokers will have the same spreads.
- Even through I do not know their spreads, but I know it is possible. However you state you used other broker's (Oanda's) 1 Minute chart to prove your point, but it clearly says the chart is on Daily (1d)

Hi Bluefish,

I wasn’t accusing you of being blueberry markets; it was just a dig due to the similarity in the name. However, the way you was so quick to be inflamed does make people wonder what your motivation for the essays you keep on writing on this thread. I mean, who the heck has time to write multiple responses and every response is as long as a dictionary.

Anyhow, I will try to respond to your waffling in your other posts soon (God knows I don’t have the time for it but thought to respond).

Lastly, the spreads graph I have shown shows the timing of when the alleged increase in spreads occurred and yes it’s on the Daily timeframe broken down into hours of the day (again this shows that you don’t even know timeframes let alone anything else, but that’s another story). The graph shows the maximum spread on that day and time and shows no matter what the spread could not have spiked to the level that your scam broker @Blueberry_Markets put on my trade.

thanks
Pheniox
 
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