JM Trade can be classified as a common FX scam. The website appears to be hastily designed and lacks proper attention to detail. Unfortunately, the overall quality of their services is nothing to write home about. If you’re looking for a reliable FX platform, this one may not be worth your time and investment.
Sharing identification documents is not recommended, as there is a risk of being scammed. It is an untrustworthy broker that may risk your security. Read a complete JM Trade review, and you’ll see that not all things are as good as they appear. We’re going to expose a scammer.
Website: https://jmtrade.com/
Address: Al Enmaa’ Tower, Floor-15, Abdollah AL Mobarak Street, Al Mirqab, Kuwait City, Kuwait
Warning: Not recommended by review website like Scam Helpers
Regulated? Unregulated
Regulation
The company claims to have a license from the Ministry of Kuwait, but in reality, forex brokers are regulated by the Central Bank of Kuwait. This means that the company’s claim is a mistake, and not licensed in Kuwait. We have exhausted all possible sources of regulatory information that could assist us. Unfortunately, the broker deceived us about being licensed and located in Kuwait, rendering us unable to obtain any relevant regulatory information.
Trading Software
The Mystery of Unlicensed Brokers Offering MT4 Trading It’s not uncommon for unlicensed brokers to offer the MT4 trading platform, but it can raise some red flags. Take JM Trade, for example. Their affiliation with MT4 is perplexing, to say the least.
One theory is that fraudulent brokers have found ways to obtain the MT4 platform, or they purchase it from the original provider, who may not be concerned with how their software is being used. Either way, it’s a concerning display of ambition. A motivated scammer broker can be the most treacherous of all investment scams, so it’s important to exercise caution.
Deposit and Withdrawal Methods
According to the broker, the available payment gateways include credit cards, debit cards, and wire transfers. Additionally, there are deposit commissions ranging from 3-4 percent, depending on the type of credit or debit card used. It’s rare to come across a broker, whether reputable or not, that implements deposit fees in today’s market.
Although the minimum deposit is often $250, we cannot confirm that this amount is accurate. Withdrawals are generally processed via wire transfer without commission, and should not take more than three days. However, we cannot guarantee this payment information is correct. It’s important to note that we don’t recommend depositing funds with this platform.
How does the JM Trade scam work?
The susceptibility of the user is the key factor that scammers rely on. Unfortunately, novice and naive traders are often their targets, and such individuals are becoming increasingly abundant in today’s market.
Online advertisements, especially those that offer investment opportunities or advice with exaggerated promises of wealth, are among the most common starting points for these scams. Such ads are often accompanied by images of luxury and wealth, which further entice unsuspecting users.
Conclusion
If you have lost money through JM Trade, don’t worry. You’re not alone, and it’s not the end of the world. Even the most cautious investors make mistakes, and this can be a chance to learn from the experience. If you have lost money online, don’t worry – there is hope.
Scam Helpers is a dedicated team of specialists who provide the best support to help consumers recover their lost funds. They have successfully helped customers all over the world reclaim millions of dollars. Simply fill out the form above to see if you qualify for their programs. Once you’re eligible, we will collaborate with you to build a strong case for retrieving your funds as soon as possible.
Also, read CCHKAM review to know about similar scams.
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