Blueberry Markets - spread widening manipulation

muydiya100

Recruit
Messages
2
Hello,

I deposited £10k funds into a Blueberry Markets MT4 account via VISA debit card. In June last year. Whenever I placed trades, they’d go against me by a fair bit even though the markets were moving in the direction required.

To mitigate the losses, I’d eventually stop the trades. I was mainly doing the FTSE100.

I noticed that I was losing money more rapidly than with other brokers as I had a couple of demo accounts linked via forex copier.

Once this happened a few times, I noticed that the Blueberry spread was increasing from 122 to as far as 720 for example. This meant that my trades were not coming into profit as they should have been and that I was making large losses.

My friend who unfortunately recommended Blueberry Markets to me also experienced this and when we both realised what was happening with the huge and sudden spread increases, my friend took a little video of it happening and sent it to his Blueberry account manager. He said it was the liquidity provider and that they would look into changing the provider.

This was a few months ago, and we haven’t heard back from them. We’ve only now realised that this is a scam/fraudulent as whilst searching Google for info, we saw law firms saying they can help to get our money back in such instances.

We thought about going to a no win, no fee firm but then saw this forum and see that others have experienced this with Blueberry.

When I logged into my client portal last week, I also see that they’ve changed from Vanuatu to Bahamas regulation, and they didn’t even inform of this.

I now see how extremely underhand they are and I want to get my money back which is just under £17k as sadly I added more funds after my initial deposit.
The trading account is now at £50.00.

This situation has made me so sad, it has really affected my mental health and family life.

I would appreciate some advice as despite all the information and help on this site, I still don’t know what the next step is as it’s overwhelming for me.

Thank you for reading and grateful for any help
 

FxMaster

Lt. Colonel
Messages
11,159
Hello,

I deposited £10k funds into a Blueberry Markets MT4 account via VISA debit card. In June last year. Whenever I placed trades, they’d go against me by a fair bit even though the markets were moving in the direction required.

To mitigate the losses, I’d eventually stop the trades. I was mainly doing the FTSE100.

I noticed that I was losing money more rapidly than with other brokers as I had a couple of demo accounts linked via forex copier.

Once this happened a few times, I noticed that the Blueberry spread was increasing from 122 to as far as 720 for example. This meant that my trades were not coming into profit as they should have been and that I was making large losses.

My friend who unfortunately recommended Blueberry Markets to me also experienced this and when we both realised what was happening with the huge and sudden spread increases, my friend took a little video of it happening and sent it to his Blueberry account manager. He said it was the liquidity provider and that they would look into changing the provider.

This was a few months ago, and we haven’t heard back from them. We’ve only now realised that this is a scam/fraudulent as whilst searching Google for info, we saw law firms saying they can help to get our money back in such instances.

We thought about going to a no win, no fee firm but then saw this forum and see that others have experienced this with Blueberry.

When I logged into my client portal last week, I also see that they’ve changed from Vanuatu to Bahamas regulation, and they didn’t even inform of this.

I now see how extremely underhand they are and I want to get my money back which is just under £17k as sadly I added more funds after my initial deposit.
The trading account is now at £50.00.

This situation has made me so sad, it has really affected my mental health and family life.

I would appreciate some advice as despite all the information and help on this site, I still don’t know what the next step is as it’s overwhelming for me.

Thank you for reading and grateful for any help
@Blueberry_Markets, can we have your attention here, please?
 

Pheniox123

Sergeant
Messages
175
Hi @muydiya100 ,

Sorry to hear about your loss and this scam broker @Blueberry_Markets . More and more people are now realising how crooked they are and what they do to ensure that people with big accounts are zeroed (as they make their money from the loss of the traders unlike other brokers which make their money from spreads only and legitimate means).

It is all coming out now @Blueberry_Markets so your scam of being a good broker is coming to light and sooner or later your association with EightCAP will be so clear for everyone to see that you will have to start a new marketing shell company with a funky name like xyz markets.

Best of luck @muydiya100 and you’re not alone - thank you for shining a light on this scamming broker.

Thanks
Pheniox
 

muydiya100

Recruit
Messages
2
Thank you for the responses and empathy!

I have just read through all the Blueberry Markets and Eightcap threads here and can't believe how identical the experiences are.

It's obviously their modus operandi and by starting off with a large deposit, they definitely saw me coming!

I'm gutted I didn't think to do a chargeback at the time. I thought I lost the money trading and that my bank would see it as me simply 'betting' the wrong way.

Has anyone had success with chargebacks when its been a long time (9 months in my situation) since the first payment?
 
Messages
22
Thank you for the responses and empathy!

I have just read through all the Blueberry Markets and Eightcap threads here and can't believe how identical the experiences are.

It's obviously their modus operandi and by starting off with a large deposit, they definitely saw me coming!

I'm gutted I didn't think to do a chargeback at the time. I thought I lost the money trading and that my bank would see it as me simply 'betting' the wrong way.

Has anyone had success with chargebacks when its been a long time (9 months in my situation) since the first payment?

Most banks will process chargebacks within 30 days of your credit card deposit. You can submit a complaint that the broker is not regulated in your country and the bank should issue a refund.
 

Trader09

Private, 1st Class
Messages
45
Hello,

I deposited £10k funds into a Blueberry Markets MT4 account via VISA debit card. In June last year. Whenever I placed trades, they’d go against me by a fair bit even though the markets were moving in the direction required.

To mitigate the losses, I’d eventually stop the trades. I was mainly doing the FTSE100.

I noticed that I was losing money more rapidly than with other brokers as I had a couple of demo accounts linked via forex copier.

Once this happened a few times, I noticed that the Blueberry spread was increasing from 122 to as far as 720 for example. This meant that my trades were not coming into profit as they should have been and that I was making large losses.

My friend who unfortunately recommended Blueberry Markets to me also experienced this and when we both realised what was happening with the huge and sudden spread increases, my friend took a little video of it happening and sent it to his Blueberry account manager. He said it was the liquidity provider and that they would look into changing the provider.

This was a few months ago, and we haven’t heard back from them. We’ve only now realised that this is a scam/fraudulent as whilst searching Google for info, we saw law firms saying they can help to get our money back in such instances.

We thought about going to a no win, no fee firm but then saw this forum and see that others have experienced this with Blueberry.

When I logged into my client portal last week, I also see that they’ve changed from Vanuatu to Bahamas regulation, and they didn’t even inform of this.

I now see how extremely underhand they are and I want to get my money back which is just under £17k as sadly I added more funds after my initial deposit.
The trading account is now at £50.00.

This situation has made me so sad, it has really affected my mental health and family life.

I would appreciate some advice as despite all the information and help on this site, I still don’t know what the next step is as it’s overwhelming for me.

Thank you for reading and grateful for any help
Sorry for your loss.
Could you provide some evidence for your claim, please!
 

4evermaat

2nd Lieutenant
Messages
2,273
Most banks will process chargebacks within 30 days of your credit card deposit. You can submit a complaint that the broker is not regulated in your country and the bank should issue a refund.

Actually CC chargebacks can be rejected for certain types of transactions. Such as for gambling purposes. And it depends on the country the credit/debit card was issued in. In some countries, you must treat your debit card like it is cash.

It's not an automatic entitlement, even in developed countries. Visa/MC are trying to distance themselves more and more from gambling and cfd type transactions. Or at minimum consider them more high risk.

Sometimes in more developed countries, you might get some provisional credit and then the issuing bank might actually eat the cost even if the chargeback ultimately fails. This depends on the amount and your relationship with the bank
 
Last edited:

Blueberry_Markets

Blueberry Markets Representative
Messages
41
Hi muydiya100, sincerest apologies for the delayed response here as we did not get notified of this thread.

We do remember that on April 6, 2022, you informed us about the issues you’ve had, when we reached out to you to ask about your bad rating in our client survey. Prior to that, we did not receive any complaints from you since you started trading in June 2021.

We immediately responded to you and asked for more information about the specific trades in question, but you have stopped responding and so we did not get a chance to launch a proper investigation. You mentioned the video recording too but it was not provided to us either.

We’d be more than willing to look into this again. We will reach out to you and await your reply.

P.S. As mentioned in our last email, the regulation change from Vanuatu Financial Services Commission to Securities Commission of The Bahamas happened back in September 2021, and we did put up a notification in the Client Portal for all global clients to see.

-Hanna, Customer Support
 
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