• Wed. Jul 24th, 2024

JM Trade Review, JM Financial Services, Kuwait (jmfinancialkw.com) FRAUD EXPOSED – JM Trade Scam Broker

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Byfraudulentbrokers.com

Aug 5, 2023
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JM Trade Financial Services, Kuwait (jmfinancialkw.com)
Conclusion
All of these problems clarify that JM Trade (JM Financial Services, Kuwait) is not a broker to be trusted at any cost because it is just another fraudulent entity.
Broker Rating
0.1

JM Trade (jmfinancialkw.com) AKA JM Financial Services, Kuwait is without a doubt a %100 fraudulent brokerage firm. It is NOT a real broker! Stay away! JM Trade scam works by getting you to believe you can become rich by trading with them.

JM Trade Review

Are you eager to start online trading? Many people are and as excited as you may be, it is definitely not an excuse for you to not do your due diligence when choosing an online broker to work with. Yes, the plethora of companies that you find can leave you unsure of how to proceed. At this stage, it is quite tempting to just open an account with the first broker that seems like a good choice. But, this can be a recipe for disaster because the company may as well be a scam. Not every brokerage is trustworthy, no matter what is claims, something this JM Trade (JM Financial Services, Kuwait) review can help you understand.

JM Trade
 


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Most people know about scam brokers, but are under the misconception that they cannot happen to them. It turns out to be a rude awakening for such people when they realize that their hard-earned money is lost because they trusted a brokerage that made some very impressive promises. This is the internet and you have to take everything with a grain of salt. Nothing should be taken for granted until you have verified everything. No fraudster is going to warn you before they steal your money.

You need to bear this in mind when you are looking at the various brokerages operating in the market. Regardless of how tempting their offerings may seem, you have to be extremely careful because it is easy to create a false front. You will experience this firsthand when you check out JM Trade (JM Financial Services, Kuwait) because at first glance, it is the brokerage everyone needs. With its headquarters located in the United States, this forex and CFD broker claims to be offering its services across 50 countries.

JM Financial Services, Kuwait
 

A horde of trading instruments, including forex pairs, shares, soft commodities, indices and precious metals can be found at JM Trade (JM Financial Services, Kuwait) and they are available for trading via the MT5 trading platform. High leverage and low spreads, along with numerous payment methods add to the package. Is this brokerage really trustworthy? You need to verify everything before coming to a conclusion, so let’s get started.

Licensing and regulation

When you are looking for a trustworthy broker, you should remember that their license is the biggest indication of their credibility. Any brokerage that wants to establish trust with its clients will obtain a license for providing its services. This is issued by the regulatory authority of the country where the company is based. It is obtained after fulfilling requirements and requires brokers to be compliant with rules and laws, which means you can receive quality services, along with security and transparency.

Therefore, when it comes to JM Trade (JM Financial Services, Kuwait), you should first look into its licensing and regulation. As mentioned above, the company claims to be operating from the United States, which is a well-regulated country. The regulatory body for the region is the Commodity Futures Trading Commission (CFTC) and brokers are also required to have a membership of the National Futures Association (NFA). But, checking the name of JM Trade (JM Financial Services, Kuwait) in the online registers of both these organizations will not give you any results.

This is the first indicator that the broker you are dealing with is untrustworthy. This clarifies that JM Trade (JM Financial Services, Kuwait) cannot be operating in the United States because it does not have the license to do so. Even if it does operate from there, it means it is doing so illegally, which means it has absolutely no credibility and you need to avoid it completely.

Trading platform

The key tool needed for online trading is called the trading platform because this will connect you to the financial markets in real-time and is used for trade execution. It also boasts trading tools that are used by traders for making their trading decisions. The platform you are provided depends on the brokerage you decide to use and as stated earlier, the MT5 trading platform is advertised on the JM Trade (JM Financial Services, Kuwait) website.

If you do a bit of homework, you will come to know that the MT5 is considered the top trading platform in the market, as it is powered by top-notch technology and has state-of-the-art trading tools. Thus, the fact that JM Trade (JM Financial Services, Kuwait) offers it will make it sound trustworthy. However, when you try to check out the trading platform available, you are in for a big surprise because there is no MT5 to be found.

What you will see at the JM Trade (JM Financial Services, Kuwait) website is a basic web trading platform that is a far cry from what you have been promised. It is quite lacking in terms of trading tools and does not have any functionalities that you would expect from an advanced trading platform. The fact that JM Trade (JM Financial Services, Kuwait) is lying about the trading platform is another reason to not consider it trust worthy.

Trading conditions

Your profitability in the financial markets depends on your strategy and trades, but that’s not all. It also depends on the trading conditions that the online broker offers and JM Trade (JM Financial Services, Kuwait) claims to have a high leverage and low spreads. Does it live up to its promises? Indeed, the leverage is so high that it climbs to 1:300, ratios that are not permitted in the US at all.

As for spreads, the ‘low’ spreads start at a whopping 3.3 pips, which is over three times more than what most competitive brokers offer. This is more proof that JM Trade (JM Financial Services, Kuwait) cannot be trusted because it is not being honest about its trading conditions.

Payment methods

A look at the payment methods that are offered at JM Trade (JM Financial Services, Kuwait) will also reveal why you should not trust this broker because it is not offering the variety you expect. The only way you can make your deposits and withdrawals is through cryptocurrencies. This option cannot be deemed reliable because it does not offer you the option of filing for a chargeback. It means no refunds for you and since the payments are anonymous, you will not be able to take any action at all.

Conclusion

All of these problems clarify that JM Trade (JM Financial Services, Kuwait) is not a broker to be trusted at any cost because it is just another fraudulent entity.

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