Another storm has hit the prop trading industry as Blueberry Markets recently decided to restrict grey-labeling its MetaTrader licenses to prop trading firms. Several prop trading firms have confirmed that the brokerage requested them to pause new onboarding on MetaTrader.
While there is chaos among many prop trading firms, they have confirmed that the decision did not affect the existing clients using MetaTrader on Blueberry Markets, at least for now. Existing customers can continue to use the platform.
Dear traders,
Today Blueberry markets announced shutting down it’s operation for ALL prop firms.
All clients who have purchased an account with us and already logged in or traded once in their accounts will be able to keep using their account.
All clients having purchased and…
— Funded Engineer (@fundedengineer) March 4, 2024
It is to be noted that the disruption of services came for non-United States customers of prop trading firms. None of the brokerages offering support to prop trading firms are now offering MetaTrader for US customers after the alleged crackdown by MetaQuotes last month.
According to Jon Alexander, the CTO of prop firm Maven Trading, the decision of Blueberry Markets came as the brokerage is missing from the MetaTrader app.
“We are currently pausing new purchases for MT products for the time being. They have requested that we stop onboarding new clients onto MT products until they get further clarity from MT as to why their brokerage is missing from the MT app,” Alexander noted.
“BBM has assured us that existing MT clients may continue to trade without concern.”
An announcement by Maven Trading’s CTO on its official Discord server
Other prop firms confirming the suspension of new onboarding via Blueberry Markets are MyFundedFX, Funded Engineer, and Funded Nation. MyFundedFX recently confirmed reinstating MetaTrader platforms for non-US customers with the Blueberry partnership, which has now been disrupted.
An announcement by MyFundedFX’s CEO on the official Discord server
Finance Magnates reached out to Blueberry Markets for official confirmation but did not receive any response as of press time.
Storm in Prop Trading
Blueberry Markets is one of the few brokers offering services to the prop trading industry. With the latest exit of Purple Trading, Eightcap, and ThinkMarkets from offering MetaTrader to prop trading firms, multiple prop trading firms tapped the services of Blueberry Markets. Purple Trading and ThinkMarkets are still offering MetaTrader alternatives to prop trading firms.
Important Update for #FundedNation Traders! We’re pausing new client onboarding to MT5 due to a request from Blueberry Markets. Good news: Existing traders are unaffected & MT5 remains available with new broker soon for all traders. Plus, DXtrader is coming soon for new traders!…
— FUNDED NATION (@FundedNation) March 5, 2024
Blueberry is headquartered in Australia and is locally regulated by the ASIC. The broker also has two offshore licenses: one in Vanuatu and the other in St Vincent and the Grenadines. Recently, the broker onboarded Govinda Pathak as the Head of Marketing.
Another storm has hit the prop trading industry as Blueberry Markets recently decided to restrict grey-labeling its MetaTrader licenses to prop trading firms. Several prop trading firms have confirmed that the brokerage requested them to pause new onboarding on MetaTrader.
While there is chaos among many prop trading firms, they have confirmed that the decision did not affect the existing clients using MetaTrader on Blueberry Markets, at least for now. Existing customers can continue to use the platform.
Dear traders,
Today Blueberry markets announced shutting down it’s operation for ALL prop firms.
All clients who have purchased an account with us and already logged in or traded once in their accounts will be able to keep using their account.
All clients having purchased and…
— Funded Engineer (@fundedengineer) March 4, 2024
It is to be noted that the disruption of services came for non-United States customers of prop trading firms. None of the brokerages offering support to prop trading firms are now offering MetaTrader for US customers after the alleged crackdown by MetaQuotes last month.
According to Jon Alexander, the CTO of prop firm Maven Trading, the decision of Blueberry Markets came as the brokerage is missing from the MetaTrader app.
“We are currently pausing new purchases for MT products for the time being. They have requested that we stop onboarding new clients onto MT products until they get further clarity from MT as to why their brokerage is missing from the MT app,” Alexander noted.
“BBM has assured us that existing MT clients may continue to trade without concern.”
An announcement by Maven Trading’s CTO on its official Discord server
Other prop firms confirming the suspension of new onboarding via Blueberry Markets are MyFundedFX, Funded Engineer, and Funded Nation. MyFundedFX recently confirmed reinstating MetaTrader platforms for non-US customers with the Blueberry partnership, which has now been disrupted.
An announcement by MyFundedFX’s CEO on the official Discord server
Finance Magnates reached out to Blueberry Markets for official confirmation but did not receive any response as of press time.
Storm in Prop Trading
Blueberry Markets is one of the few brokers offering services to the prop trading industry. With the latest exit of Purple Trading, Eightcap, and ThinkMarkets from offering MetaTrader to prop trading firms, multiple prop trading firms tapped the services of Blueberry Markets. Purple Trading and ThinkMarkets are still offering MetaTrader alternatives to prop trading firms.
Important Update for #FundedNation Traders! We’re pausing new client onboarding to MT5 due to a request from Blueberry Markets. Good news: Existing traders are unaffected & MT5 remains available with new broker soon for all traders. Plus, DXtrader is coming soon for new traders!…
— FUNDED NATION (@FundedNation) March 5, 2024
Blueberry is headquartered in Australia and is locally regulated by the ASIC. The broker also has two offshore licenses: one in Vanuatu and the other in St Vincent and the Grenadines. Recently, the broker onboarded Govinda Pathak as the Head of Marketing.
