To be honest, blueberrymarket.com is HORRIBLE BROKER
Service use: Live
Length of use: 3-6 Months
First off, I'm a client of blueberry market and I never heard of them before VP at NNFX made mention of them. I was chilling at my previous broker even though their spreads was a bit over the top. I decided to give them a try and I was quickly impressed with their execution and no slippage. I'm a retail trader with a few trading styles, which includes news spike trading and I have been quite profitable with other brokers safe for spread widening which can be excessive when you least expect it.
The first few weeks was good and profitable. I made profit and I was trading a mixture of technical and fundamentals. I experienced no slippage whatsoever even during high volatility economic data release and I thought everything was all great until I started spinning my initial $450 deposit to $1300 and I decided to withdraw my initial deposit. I think that was when they caught onto me. (I wasn't doing anything contrary to their terms and condition) But since the withdrawal process usually require human intervention blueberry market was bound to lookup your trading records. Again, that is to be expected since they are a market maker type of broker and they made it clear.
This is when their manipulation started. I ran into issues with my initial withdrawal and it was resolved the moment I came to FPA and posted my review. They quickly explained the problems they encountered and the mix up.
At this point, they introduced heavy slippage into all my trades. I started losing instead of making profit from news spikes that I often trade (Again, there was no slippage when I started trading with blueberry markets) The slippage can be as much as 80 pips. I thought it was an anomaly but they continued to inject heavy slippage into my trades. It is best to understand that the more you lose they gain! So, it is their prerogative that you lose since that is their profit. Don't believe anything else they try to make you believe about their 'liquidity provider jargon'. They only take price feeds, everything else is controlled internally and it is open to manipulation and manipulate they did. Again, let me explain that there is a plug-in available for MT4 Manager that can introduce slippage by way of delayed trade execution to a group of trading accounts. Do your research.
They are unethical and they are as bad as every other broker who has a reputation for order manipulation on FPA maybe even worse. It would have been a different case if they stated it clearly in their terms and conditions that they do not want you trading news spike, that would be perfectly understandable. I even went as far as chatting with one of their live chat and I was told that I could trade the economic news release and any other strategy but the truth is they don't t want you to make profit that way. Their course of action is to frustrate you by grouping you in with other accounts that trade news release and pump up the delay which means slippage. Again, they are not an ECN platform so, do not believe whatever they say on their homepage.
Well, they were quick to refund the first loss due to slippage and they made me believe that it was also an anomaly. Well, I continued trading as usual and this time, I was slipped terribly, I lost $184 for trade ID 26716509 and trade ID 26716505. I informed Tim Maunsell about the 88 pips slippage again and he quickly proposed that blueberry market would refund the $184 lost to slippage. I waited for a few days and the money wasn't returned to my trading account. I contacted Tim again a few days later and he told me that blueberry market will not refund my money and I have to bear the losses. They even threatened to close my account and refund whatever is left in my account. That moment I realised that blueberry market is a bucket shop and they are all out to make money even if it means doing it in an unethical manner. Tim Maunsell is quick to point out that Blueberry Market has a lot of customers and can't focus on small account such as mine yet he couldn't explain why I started witnessing slippage all of a sudden. He was quick to blame it on their liquidity provider and I'm sitting there wondering if he thinks I'm stupid. Their price feeds is coming from eightcap which is another terrible broker, yet they try to absolve themselves of any wrong going.
Their customer care representative have been trained to be smooth talkers. They are the best at that but that doesn't translate into FAIR and TRANSPARENT trading environment. They are by far the worst out there, let no one tell you otherwise. STEER CLEAR OF THIS BROKER, TRUST ME.
Aug 23, 2019 - 4 Stars Well, I had complained about two issues I had with this broker and those issues are vital to the success of any trader professional or starter and it is Good Trading Conditions and Easy Withdrawals. While I have seen the bad part of both with this broker and haven reported it to their customer service (Which is awesome by the way) and on FPA Reviews, they actually did everything humanly possible to fix those problems and also ensure that I am satisfied, trust me it is not easy to satisfy me.
Blueberry Markets actually wants you to succeed and so they try to provide a near perfect trading solution. Tim Maunsell emailed and called me regarding the 13.3 pip slippage I experienced the other day and the amount lost to that anomaly was returned to my trading account. I am sure the problem came from their liquidity provider and I'm darn sure it was a technical issues. I know most brokers would want you to take this loss even though it was clearly a technical anomaly (the pair involved is very liquid) and not the trader's fault but the management at Blueberry Markets have proven that they have blood running through their veins and it matters to them that a trader succeeds. Trading is hard enough as it is for most traders but contending with your broker shouldn't be have to be part of it and they understand that. You're not just a statistics at this broker, you are valuable to their success as well. They actually set out to be different from the rest and now I see why. Is there anything as a honest forex broker? But I think this is the closest you are going to get to having one.
I would like to thank the team at Blueberry Markets. The slippage issue has been resolved and I'm happy. I would try withdrawing funds again to see if they have done a better job at improving that as well, but until then, I'll keep trading with BBM.
Lastly, if you want a broker who isn't out there to get you, this is the one folks. Now, I see what the ratings are all about now. Keep it up guys.
Aug 21, 2019 - 1 Star I wrote about my experience with the withdrawal process on blueberry Market well, it was hell. I think the only reason why they have received so many positive reviews is customer relations and not the trading platform itself. I was only able to withdraw 150 of my $450 initial deposit. I didn't get to withdraw any profit until I lost it all. Yes, I'm a high stakes trader and that is my business. They sent me a $20 Goodwill deposit to my account but I don't think that would make up for me loss of over 450 would it? That being said let me get on with why I am here.
I have been trading with several other brokers and in some ways I would consider them bad but I think I have messed around and found the worst one, yes that is blueberry market. I have had a case of 2-5 pip slippage but I have never encountered anything like 15 - 20 pip slippage which is what I experienced today on CADJPY during the Canadian CPI release. Remember I have traded CADJPY before and the maximum slippage I have seen is 2 pips and I have traded other pairs during news and I haven't be subject to this kind of crazy slippage.
Let me explain in full.
Transaction ID: 26100028 I placed a 2.0 (Standard lot) Buy Stop order at 80.139 I placed a 2.0 (Standard Lot) Sell Stop Order at 79.892
Guess where my order was filled? At 80.355 that was 21 pips slippage. These were orders that was sent to their servers a minute before the news. This is highly unacceptable. I don't think an ECN would even provide that much slippage and trust me, I have used ECN brokers and I'm still using an ECN broker as we speak. I didn't take that trade on my main account with other brokers, otherwise I would have figure out the difference however, I know people who did and are in profit but here I am with a US $300 loss wondering where I went wrong with this broker again. Yes, some of my friends are using some of the brokers with worst reviews and rating on FPA and they took exactly the same order as I did, some even with larger lot sizes yet, none of them is complaining about that amount of slippage.
I have written to Tim Maunsell for him to shed more light on this issue but until then I will try to inform traders of the possibility of this sort problems with Blueberry Markets. The number of stars here are not really about the trading platform itself but more about the human relations. But I didn't signup for their pep talks but to trade. I am sure they will blame it on many other factors and they will avoid rectifying the issue.
I will update this review when I hear from them but until then, 1 start from me.
Aug 14, 2019 - 2 Stars I am sure someone here commented about how cumbersome or impossible it is to withdraw your earnings from this broker. Any broker where it's easier to deposit than withdraw is a no go for me. I deposited 450 dollars with the broker and I quickly made profit and I decided to test out their withdrawal, trust me its a train wreck. I did the first withdrawal of $225 on Monday, 11th of August, 2019 and it was deducted from my account. However, when I tried withdrawing another $250 yesterday, It was reversed the today. I thought it was due to the fact that I deposited with two of my cards and I exceeded the actual deposit amount, so I withdrew $225. Well, that was also reversed. So, I reached out to their support via live chat. Guess, what they kept giving me the run around. What surprised me more was the fact that she said, the initial $225 that I tried to withdraw isn't showing up on their record. Where did my $225 go? Till date, I haven't received it, Blueberry Market says they can't find it. Again, I tried to reach out to them on phone, well, I was put right through to Tim Maunsell, well, he said he couldn't hear me over the phone and it was due to phone issues. Now, I'm here sitting on my palms wondering where I went wrong with this broker. They have a great system, yes, but it doesn't seem they want you to have your money. Even the worst brokers will pay you your earning. I can't believe this is what I left exness for.
Reply by Blueberry_Markets submitted Aug 26, 2019 Dear jjzones,
Thank you so much for your understanding, we're grateful for your commitment to working through this and sticking with us. We value your business and look forward to working with you into the future.
If you have any issues please contact me directly by emailing firstname.lastname@example.org or calling +61 2 8404 9485
Sebastian Morgan - Head of Client Experience at Blueberry Markets
2 traders have found this review helpful
Reply by Blueberry_Markets submitted Nov 25, 2019:
Thank you for the multiple reviews. The relationship has been topsy turvy to date and it pains me to hear of your grievances.
Unfortunately, slippage is very likely to occur when trading news announcements or during volatile periods in the trading day. We believe we handle slippage quite well here at Blueberry and make sure our clients are always getting the best price possible when slippage occurs, whether negative, or positive slippage.
Whilst the one-star review stings, it has allowed me to work on ways to better handle queries like yours moving forward.
I and the team from Blueberry wish you all the best with your trade adventures in the future and if there is anything I can help you with personally, please email me directly at email@example.com
Sebastian Morgan | Head of Client Experience | Blueberry Markets
They just hunt your stop-loss especially when you are not looking. If you have to use them, close your trade once its 20:00GMT or its equivalent in yo
I do not have any problem with this broker other than a few key issues. First offs, they hunt stoploss once it's 22:00GMT. They will widen their stop loss and make it flunctuate so much so that if you were not prepared, it will mess around and hit your stop-loss and to them its fair game. They might warn you of volatility but consider that as an early warning that they are going to make money off of most of their traders. I have video evidence to prove this. You see, I had opened another account with another broker (I reserve the name) and I looked at them side by side when I was investigating this thieving book markers called brokers then I noticed that there was no volatility with the other broker and then I looked at their spreads, whooping 38 pips and then in a split second it climbed to 79 and then upwards, well of course, it hit my stop-loss and I lost that trade (it was losing anyways). I just want to warn anyone out there about this broker. They are crafty, very crafty.
1 trader has found this review helpful
Reply by ForexTime (FXTM) submitted Apr 5, 2019:
Dear jjzones, we are sorry to hear you are still dissatisfied. As a regulated broker, the Company does not interfere with Clients’ trading activity, nor does it manipulate the prices received from its Liquidity Provider. This goes against our corporate and regulatory ethics.
If you have had an issue with your account, please log in to your MyFXTM account and submit the 'Trading operations' form, providing your trading account, order number and a detailed explanation of your issue. Our dedicated team will look into the issue and reply to you within five business days.
Thanks again for your cooperation and understanding. Please don’t hesitate to contact our official customer support team, alternatively, get in touch with your personal Account Service manager.