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.

Another Broker Folded?

Amidst the upheaval among many prop trading firms, it has been clarified that the decision did not affect the existing clients using MetaTrader on Blueberry Markets, at least for now. Existing customers are able to continue to use the platform without interruption.

The service disruption affected 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, Blueberry Markets' move was unexpected, given the brokerage's absence 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.”

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.

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 firms in this sector have tapped the services of Blueberry Markets. While Purple Trading and ThinkMarkets continue to provide alternative MetaTrader solutions to prop trading firms.

Blueberry Markets is headquartered in Australia and is locally regulated by ASIC. Additionally, the broker has two offshore licenses: one in Vanuatu and the other in St Vincent and the Grenadines. Recently, it onboarded Govinda Pathak as the Head of Marketing.