Australia based Retail FX and CFDs broker Blueberry Markets has announced that it has terminated its Data and Platform Service Offering, which was designed to service the prop industry by leveraging its infrastructure.
Blueberry Markets said that it has “dropped the curtain” on its Data and Platform Services offering, cutting ties with all prop trading businesses including MyFundedFX, which was one of Blueberry’s largest prop firm clients. Blueberry Markets provided Data and Platform Services to prop trading businesses providing access to its demo MetaQuotes servers and pricing data.
Dean Hyde, Blueberry Markets CEO said,
“Blueberry Markets respects the prop trading industry. Balancing our recognition of the industry’s recent popularity and sustained growth trajectory and concerns voiced by a key infrastructure vendor, Blueberry Markets made the decision to discontinue this offering. After lengthy discussions it was decided the only way to address these concerns in a meaningful way was to discontinue providing services to the prop industry with its current platform offering.”
Blueberry Markets – and other brokers servicing prop trading firms – have come under pressure from MetaQuotes to stop taking prop initiated business, mainly in response to MetaQuotes trying to ensure that it keeps US client business off of its MT4 and MT5 trading platforms, by brokers who aren’t licensed in the US.
We believe that Blueberry Markets, via its offshore arm in Vanuatu, will continue doing business with the prop firms, but only on platforms other than MT4 and MT5.
MyFundedFX, for its part, put out a tweet a few days ago indicating that its integration of the cTrader platform is complete, and that it aims to go live with cTrader powered by Purple Trading SC (Seychelles).
