JPM Invest Review: this is the name of a forex broker that claims to offer CFDs and is located in the Marshall Islands. Is jpm-invest.com a scam Forex broker?
On the page we find that the broker website is owned by MCF Media Solutions Ltd, that is located at:
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Mladost 1750 BLV. 3b, Sofia, Bulgaria.
The brokerage claims to offer a large assortment of trading products to clients. It also claims that the team running the company have over 20 years combined experience with technology and trading. A demo account is offered to traders to test their claims. This demo account does not work.
It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.
However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.
A summary of the benefits of trading with the broker are as follows:
JPM Invest Trading Platform
It is mentioned that JPM Invest trading software is operated on a MetaTrader 4 platform available to all their clients.
Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.
This platform is a very good sign along with MT5, as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.
Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.
Trading instruments offered to traders are: 70+ forex trading pairs, shares, cryptocurrency, and CFDs. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.
Maximum leverages can reach up to 1: 500 and while this is generous, it can pose danger as well. High leverages can lead to huge loss of funds as well. Spreads are said to start from as low as 0.1 pips.
Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.
Deposit and Withdrawal methods on JPM Invest
The means of making payments and withdrawals with this broker are: Visa, MasterCard, Maestro and Dinners. We do not find it encouraging that e-wallets are not in use.
This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.
Minimum deposit required is placed at $100 which is within the obtainable average of $100 – $250 among brokers. Withdrawal charges are $35 and an inactivity fee of $50 is deducted per month if the account is not traded with for 90 days.
Trading bonuses are also offered and we have found that this is a means brokers use in tying down clients. Like the JPM Invest, traders must trade every bonus dollar 10,000 times to be able to make withdrawals.
This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.
Is JPM Invest Licensed?
No. JPM Invest is not a duly licensed Forex broker. It is located in an offshore location where Forex trades are not regulated. We have warned traders countless times to avoid unlicensed brokers.
Offshore locations are notorious because scam brokers choose to be based and operate from there. It is the same with this broker and they are not under any regulatory commission.
To reach the broker or a customer care agent, call: +442896205137 or +74993505603 or email: firstname.lastname@example.org
Since we know that JPM Invest is not a licensed broker, we are discouraged from considering it a wise option. It gives good leverages, spreads and minimum requirement but the withdrawal charges are high. Its trading bonuses are also red flags.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
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