Berry is a forex and CFD broker that claims to offer a variety of trading services to clients around the world. However, there is a growing body of evidence that suggests that Berry is a scam broker.
Company Overview
Berry is a relatively new broker, having been founded in 2022. The company’s website claims that it is regulated by the Financial Conduct Authority (FCA) in the UK, but this is not true. The FCA does not regulate Berry, and the company is not authorized to provide financial services in the UK.
Team
Berry’s website also claims that it has a team of experienced traders and analysts who are dedicated to helping clients achieve their trading goals. However, there is no evidence to support these claims. In fact, many of the people featured on Berry’s website are not real traders.
Services or Products
Berry offers a variety of trading services, including forex, CFDs, and cryptocurrencies. However, the company does not provide any information about the trading conditions or fees. This is a red flag, as legitimate brokers are typically transparent about their trading conditions.
License and Regulations
As mentioned earlier, Berry is not regulated by any reputable financial regulator. This means that there is no one to protect you if you lose money trading with Berry. If you enter the website, you can see a warning regarding being a phishing website.
Why Dealing With An Unlicensed Broker Is Risky?
There are many reasons why it is risky to deal with an unlicensed broker. First, unlicensed brokers are not subject to the same rules and regulations as regulated brokers. This means that they can get away with more, such as using deceptive marketing practices or refusing to pay out withdrawals.
Second, unlicensed brokers are more likely to be scams. Scam brokers are often set up to steal money from unsuspecting investors. They may use fake trading platforms or make unrealistic promises of high profits.
Legal Warning Against Berry
The Financial Conduct Authority (FCA) has issued a warning against Berry, stating that the company is not authorized to provide financial services in the UK. The FCA also warns that Berry may be a scam broker.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Client Feedback
There are a number of negative reviews about Berry online. Many people have complained about the company’s deceptive marketing practices and poor customer service. Some people have also claimed that they have lost money trading with Berry.
Feedback About Their Trading
The few people who have left positive reviews about Berry’s trading services have said that the company’s spreads are competitive and the trading platform is user-friendly. However, these reviews should be taken with a grain of salt, as they may be fake.
Feedback About Their Customer Service
The customer service at Berry is reportedly poor. Many people have complained about the company’s slow response times and unhelpful staff.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by Berry, there are a few things you can do. First, you should contact your bank and report the fraud. You should also file a complaint with the Financial Conduct Authority (FCA).
You can also seek help from a financial advisor or lawyer. They can help you understand your legal options and recover your money.
Reviews Advice can help you by providing a free consultation and service recommendation to help you in recovering the lost funds.
Final Thought
Berry is a scam broker that should be avoided. If you are considering trading with Berry, I urge you to reconsider. There are many legitimate brokers out there that offer better trading conditions and customer service.
If you think you have been scammed by a broker, you should contact your bank and report the fraud. You should also file a complaint with the relevant financial regulator.
