Is Berry Trading Legit or Scam?
Berry Trading has been confirmed as a scam. The platform, also known under various names like Blueberry, Berry Trading App, Fertile Soil Global, Berry FS Global, Berry Exchange, and most recently, Berry Max, collapsed in May 2023 after exhibiting classic Ponzi scheme characteristics.
Here’s a summary of the red flags:
- Disabled withdrawals: Berry abruptly stopped allowing users to withdraw their funds, a crucial sign of a Ponzi scheme.
- Exit scams: Berry attempted to deflect blame through fabricated claims of acquisition and IPO listing, typical tactics used in exit scams.
- Fake trading activity: Logging in and clicking buttons did not correspond to actual trading, creating an illusion of activity while masking the underlying scheme.
- Unsustainable promises: Guaranteeing high returns with minimal effort is a hallmark of Ponzi schemes.
- Unrealistic recovery plans: Berry’s “recovery” attempts involved pressuring users to invest more money, further enriching the scammers.
Company Overview
Feature | Details |
Company Name | Berry Trading (previously known as Blueberry, Berry Trading App, Fertile Soil Global, Berry FS Global, Berry Exchange, and Berry Max) |
Website | berry.im (and other now-defunct domains) |
Established | June 2022 (approx.) |
Status | Defunct (disappeared after May 2023) |
Regulation | Unlicensed |
Services or Products
While Berry claimed to offer investment opportunities, it was ultimately a Ponzi scheme disguised as a trading platform. The platform offered:
- Fake investment products: Berry offered various products like FDPT tokens and BRY tokens, which were ultimately worthless outside the platform.
- Click-based “trading”: Users were encouraged to log in and click buttons at specific times, creating a facade of trading activity.
- Referral programs: Berry incentivized users to recruit others, further perpetuating the Ponzi scheme.
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Trading Platform & Leverages
Berry did not have a genuine trading platform or offer any real leverage options. The platform’s purpose was to deceive users, not facilitate actual trading.
Spreads and Cost of Trading
Since Berry was not a legitimate trading platform, spreads and trading costs are irrelevant in this context.
License and Regulations
Berry Trading was not licensed or regulated by any recognized financial authority. This lack of oversight allowed the platform to operate freely and engage in fraudulent activities.
Legal Warning Against Berry Trading
Investing with Berry Trading was highly risky and resulted in financial losses for many individuals. This platform is not recommended, and legal action against the operators is unlikely to be successful due to their anonymous nature.
Deposit and Withdrawal Methods
Berry accepted deposits but disabled withdrawals. This is a clear indication of a scam, as legitimate platforms allow users to freely access and withdraw their funds.
Berry Trading Pros and Cons
Pros | Cons |
None | Numerous: Unlicensed, unregulated, deceptive practices, Ponzi schemes, fake products, exit scams, disabled withdrawals, financial losses for investors |
Why Dealing With An Unlicensed Broker Is Risky
Dealing with an unlicensed broker like Berry Trading exposes you to significant risks:
- No regulatory protection: Without regulatory oversight, there is no recourse for investors if they are scammed or experience financial losses.
- Lack of transparency: Unlicensed brokers are not obligated to disclose financial information or business practices, making it difficult to assess their legitimacy.
- Increased risk of fraud: Unlicensed platforms are more likely to engage in fraudulent activities.
Client Feedback
Client feedback for Berry Trading is overwhelmingly negative. Users report experiencing financial losses, withdrawal issues, and deceptive marketing tactics.
How Can “ReviewsAdvice” Help You If You Get Scammed?
While “ReviewsAdvice” cannot recover your lost funds, it can help you:
- Educate yourself about financial scams and red flags to avoid similar situations in the future.
- Share your experience to warn others about Berry Trading and similar scams.
- Report the scam to relevant authorities to raise awareness and potentially aid in future investigations.
We will provide you recovery service recommendations, which will help you in recovering the lost funds or you can report to us today by the below form.
Get Your Money Back from Scammers.
Final Thought
Berry Trading is a textbook example of a Ponzi scheme that preyed on unsuspecting individuals. By understanding the signs and risks associated with unregulated platforms, you can protect yourself from falling victim to similar scams. Always research and choose licensed and reputable brokers for any investment activities.
