Resolved - Beware Blueberry Markets

k0udek

Recruit
Messages
6
Thursday (12-03-2020) going to friday (13-03-2020) i had 3 positions open, one on SP500 and two on Dow Jones.
At the time 00.43 i put an order on US30 at the price 20550.00 i was almost 1000€ in profit at that time.
I was tracking that order live, right then i noticed that the market wasn't moving, i went to the tv to check if the markets had come to an halt and i saw nothing, then when i came back to the computer i saw that i had a -1449.12€ loss on that position, all my orders were closed.
I then noticed that when i entered the position i stopped receiving data from 00.41 to 01.01, when that candle of 01.01 open the price was 21089.20 given me a loss of -1449.12€ and closing all my positions.
My Balance was -1090€ and some cents, -1090.43€ if i'm recalling right.
I didn't have a chance to manage my position nor even any wanings of my margin, nothing.

Problem screenshot.png


I exchanged some emails with my account manager and in summary i have to bare the loss.

This is the last email i received:
''I understand. It is a common belief that people should be stopped out at 50% margin but when there are to be big market gaps like this one, the system can only work with the prices given.

I sincerely wish there was another way we could get around this but I can't see any available option. With the market climate these days. I can only see it being 10x more difficult for trades because of these big market movements. It has stopped me from personally trading for the time being as I found myself in a similar position to you.

I really do hope you are keeping yourself safe and healthy and if I do finds something that we can do to overcome this loss, I promise I will let you know ''
 

FxMaster

Lt. Colonel
Messages
9,168
Thursday (12-03-2020) going to friday (13-03-2020) i had 3 positions open, one on SP500 and two on Dow Jones.
At the time 00.43 i put an order on US30 at the price 20550.00 i was almost 1000€ in profit at that time.
I was tracking that order live, right then i noticed that the market wasn't moving, i went to the tv to check if the markets had come to an halt and i saw nothing, then when i came back to the computer i saw that i had a -1449.12€ loss on that position, all my orders were closed.
I then noticed that when i entered the position i stopped receiving data from 00.41 to 01.01, when that candle of 01.01 open the price was 21089.20 given me a loss of -1449.12€ and closing all my positions.
My Balance was -1090€ and some cents, -1090.43€ if i'm recalling right.
I didn't have a chance to manage my position nor even any wanings of my margin, nothing.

View attachment 52883

I exchanged some emails with my account manager and in summary i have to bare the loss.

This is the last email i received:
''I understand. It is a common belief that people should be stopped out at 50% margin but when there are to be big market gaps like this one, the system can only work with the prices given.

I sincerely wish there was another way we could get around this but I can't see any available option. With the market climate these days. I can only see it being 10x more difficult for trades because of these big market movements. It has stopped me from personally trading for the time being as I found myself in a similar position to you.

I really do hope you are keeping yourself safe and healthy and if I do finds something that we can do to overcome this loss, I promise I will let you know ''
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OP Screen shot.jpg
 

The Reaper of F

Sergeant
Messages
198
The typical customer service response when they know they are guilty. Read between the lines. I've seen dozens of it for years and this is the most CRINGEWORTHY note ever.

From the sentence aforementioned:

"I sincerely wish there was another way we could get around this but I can't see any available option. With the market climate these days. I can only see it being 10x more difficult for trades because of these big market movements."

Blueberry... you just exposed yourself as an unreliable broker.
 

k0udek

Recruit
Messages
6
I just want to update the situation.

In summary after i complaint to AFCA, in 04-05-2020 things were completely settled between me and Bulueberry Markets
 

4evermaat

2nd Lieutenant
Messages
1,881
It's always good to see resolved cases.

Dont forget to update your review with new information (if you havent done so already).

@FPA Forums Team will come along and mark the thread appropriately.
 
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