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Blueberry Markets, anyone have experience with them?

  • #21
  • Oct 18, 2019 2:30am Oct 18, 2019 2:30am
Quoting yonnie
{quote} hi MT, if your broker has no NZ bank account, what is the exact process of getting the NZ dollars into your NZ bank account? is your broking account in Ozzie dollars? thank you
swift bank wire would be the quickest. however with every swift payment. bank fees apply.

btw some industry insights. blueberry was founded by an ex director of axicorp. so its not exactly noname as jonnycash claims
  • #22
  • Dec 16, 2019 11:15pm Dec 16, 2019 11:15pm
I am exploring this broker, and will likely open a small account soon to give them a try.

They have marketing that seems to be geared towards attracting suckers.. however, I can't seem much wrong besides that. They don't do deposit bonuses. Which is usually a dead giveaway that it's a scam.

The only obvious thing is that with 500:1 leverage, if you were to max out your margin, a move of 0.2% would wipe you out...

Could that be their main angle?
  • #23
  • Mar 19, 2020 1:51am Mar 19, 2020 1:51am
Okay, Blueberry, I’m ready to rumble



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It takes a lot for me to IGNORE you, but you can try.
  • #24
  • Mar 24, 2020 10:02am Mar 24, 2020 10:02am
I am live since mid January. Recently i got this problem that i stop receiving data for 30min, right when i put an order. I was almost 1000€ in profit and the result was an account of -1090€ . What do you guys think ?

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  • #25
  • Jan 28, 2021 6:34pm Jan 28, 2021 6:34pm
Quoting k0udek
I am live since mid January. Recently i got this problem that i stop receiving data for 30min, right when i put an order. I was almost 1000€ in profit and the result was an account of -1090€ . What do you guys think ? {image}
whats your experience so far regarding withdrawals? were you able to sort that problem you had?
  • #26
  • Feb 8, 2021 9:22am Feb 8, 2021 9:22am
Quoting k0udek
I am live since mid January. Recently i got this problem that i stop receiving data for 30min, right when i put an order. I was almost 1000€ in profit and the result was an account of -1090€ . What do you guys think ? {image}
What a weird issue, has it happened again? Could you resolve it?

What did Blueberry say about it?
  • #27
  • Feb 8, 2021 9:23am Feb 8, 2021 9:23am
If you are coming from the EU, can you still open a 1:500 account with Blueberry, or do the new regulations prohibit it?

Do they offer another locations like IC with Seychelles?

Thanks
  • #28
  • Edited 6:17pm Feb 14, 2021 5:42pm | Edited 6:17pm
Blueberry is a representative of Eightcap. Ie, your blueberry account funds are held by Eightcap.

both use to be great, recently not so..

1) they are insistent on pushing clients offshore, despite me meeting the requirements for Wholesale client. emails go unanswered or vaguely replied

2) they made edits to PDS/terms of service and you have no option but to accept in in client portal
- the edits are that they have the right to transfer your accounts to another entity at their discretion.
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2a) on one hand they ask clients to register interest on Eightcap Pro / Blueberry Pro

2b) yet on the other they ask clients to agree to move accounts offshore or close it. Else by certain dates they will invoke the new PDS changes i stated in (2) and move your account offshore

2c) enquires sent regarding the conflicting emails go unanswered or vaguely replied. the way i see it, they are running down the clock to invoke the PDS changes.
- hence if that is the case, why even put on a show to offer clients the option to go wholesale in e first place?

3) they seem to have outsourced their CS to vanuatu. with probably just a AU manager overseeing it.
Customer Service is inadequately trained. and tons of miscommunication. see entire convo



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example of inadequately trained, CS doesnt even know what is going on in e company, mixing up IB with client categorization
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Conclusion: i know not everyone is asking bout wholesale status but think abit deeper,

would you trust a broker that hides behind its fine print/ freely nilly changes it to suit their agenda to do right by you?
keeping in mind that that they are no longer mandated by ASIC, but solely trusting them and their words to do right by you.

Anw, Ive withdraw all my funds and moved it to another AU one which did accept my wholesale application.
  • #29
  • Feb 14, 2021 10:03pm Feb 14, 2021 10:03pm
just a note for those interested in 8cap/blueberry.
I visited 8Cap office in Melbourne before I opened an account with them.
Important differences between 8cap and IC market (or other ASIC brokers).

1. their trading servers are in HK (and maybe tokyo). So may not be suitable for those in EU/UK but good for those in Asia/Pacific for manual trading.
2. Their MT4 is designed for manual trading. They forex pairs have 3 pips stops. That means your trailing/ SL cannot be closer than 3 pips to the market price. If your EA is not designed to handle this, you may get an error. IC Markets and others have zero stops.

From the location of the servers, it seems they are targeting traders from China.

No issue on withdrawal and deposits.
  • #30
  • Feb 17, 2021 4:03am Feb 17, 2021 4:03am
Quoting reddevil
just a note for those interested in 8cap/blueberry. I visited 8Cap office in Melbourne before I opened an account with them. Important differences between 8cap and IC market (or other ASIC brokers). 1. their trading servers are in HK (and maybe tokyo). So may not be suitable for those in EU/UK but good for those in Asia/Pacific for manual trading. 2. Their MT4 is designed for manual trading. They forex pairs have 3 pips stops. That means your trailing/ SL cannot be closer than 3 pips to the market price. If your EA is not designed to handle this,...
Thanks reddevil for the info. No wonder their MT4 price feed very stable and good at my location. (Asia).
  • #31
  • Nov 26, 2021 10:06pm Nov 26, 2021 10:06pm
Quoting reddevil
They forex pairs have 3 pips stops.
Thanks for the info. That's real helpful. I was looking for low latency brokers but find it hard get one below 200ms. I'm in Asia. Closest i get was 150 - 190 with Pepperstone and Tickmill. But now found that Blueberry Market is the lowest with only 90ms.

With the pips. does this apply only to non-commission account or also to their raw spread type? Sorry, i just created a demo with Blueberry and it's weekend i can't check the spread at the moment.
  • #32
  • Nov 28, 2021 1:20am Nov 28, 2021 1:20am
Quoting rumpelstilt
{quote} Thanks for the info. That's real helpful. I was looking for low latency brokers but find it hard get one below 200ms. I'm in Asia. Closest i get was 150 - 190 with Pepperstone and Tickmill. But now found that Blueberry Market is the lowest with only 90ms. With the pips. does this apply only to non-commission account or also to their raw spread type? Sorry, i just created a demo with Blueberry and it's weekend i can't check the spread at the moment.

If you are so insistant on latency. Learn what a VM is.

Most decent brokers are using NY / UK / TY accesspoints.

Go to ur mt4 folder pull up server's ip adderess and do a reverse search

The reason why eightcap aka blueberry is faster is because their servers are on alicloud via HK.
  • #33
  • Nov 29, 2021 12:07am Nov 29, 2021 12:07am
Quoting Bicarus
{quote} If you are so insistant on latency. Learn what a VM is. Most decent brokers are using NY / UK / TY accesspoints. Go to ur mt4 folder pull up server's ip adderess and do a reverse search The reason why eightcap aka blueberry is faster is because their servers are on alicloud via HK.
VM is suitable for EA traders, not manual traders who still need to connect to a VM, even when it's next to an actual server. The distance is the same. Unless you know how to strategically get a VM in mid point. I've looked around when i was trading US stocks. Setting up a remote view over the vm near to NYSE to reduce data transfer, especially during the open. Basically significant reduction of data transfer of visual data instead of transaction data of actual server. It's not a pleasant way to trade.

So rather than all the trouble, i'd choose to have a broker whose server is already within good proximity. Alternatively, starlink. But that not available yet in my country yet.
  • #34
  • May 19, 2022 8:39pm May 19, 2022 8:39pm
Thought I'd give a brief overview after having traded with them for 5 months.

Firstly, withdrawals are very quick, if I apply for a withdrawal before the daily close (7am in Aus) I get the funds the same day in my bank account. Great.

However, as my size increases, I'm beginning to see more and more slippage on entries and exits. Sometimes it'll be in my favour but the majority is not. Given it's still miniscule size in relation to what I've traded in the past, I'd hate to see what a 50 lot order would look like.

My second issue....commissions. $7 per R/T is expensive, especially so when other ASIC brokers are offering $4.50 without any negotiations.

Customer support has been adequate, zero complaints on that front.

7/10.
  • #35
  • Last Post: May 20, 2022 1:54pm May 20, 2022 1:54pm
My brother trade with them last 3 years. He didn't have any problems. You just need to use forex rebate provider to get better trading conditions from them. If you need help you can contact me.
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