JB Global Trading Review Is Jbglobaltrading.com Legit

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JB Global Trading Review: Is Jbglobaltrading.com Legit?

Jbglobaltrading.com Review: this is the name of a Forex broker that is located in the offshore region of Marshall Islands. Is JB Global Trading a scam Forex broker?

With the offshore address provided by this broker, we are on high alert regarding it. Offshore locations have proven notorious for been the source of too many scams. Registration of business there can be done without being physically present. Regulations are lax there as well.

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Forex brokers in the Marshall Islands operate without a trustworthy license making it hard for traders to trust them. JB Global Trading is an example of this kind of brokerage.

It promises that with their services, clients get: secure investments, 24/5 customer support and guarantees. They claim to offer straight-through processing solutions and allow trading in real time. It also offers new traders a personal broker to guide them. They also mention that they give the following:

Multiple Trading Platforms
Access to all Major Markets
Free Trade on all Instruments (No Commissions)
Non-Dealing Desk
Narrow and Floating Spreads
Fast Execution
Swap-Free Accounts
Transparent Pricing
High Quality Technical and Consultancy Support

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.

Trading Platform of JB Global Trading

It is mentioned that JB Global Trading 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.

These platforms are very good signs 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: 60+ Forex pairs, CFDs on precious metals, agricultural produce, indices, stocks and cryptocurrencies. 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.

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Maximum leverages can reach up to 1:200 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 1.5 pips for the standard account which is the most affordable.

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 JB Global Trading

The means of making payments and withdrawals with this broker are not mentioned save for NasPay. We are not familiar with this means of payment. We find the availability of e-Wallets encouraging.

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 $500 which is above the obtainable average of $100 – $250 among brokers. Withdrawal charges are not stated for this broker. Sometimes it is better to mention if they apply or not. We do not even find any terms and conditions; this is a shady thing. Traders are expected to sign up for something with unclear conditions.

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 JBGlobal Trading Regulated?

No. JB Global Trading is not a licensed or regulated Forex broker. What is more, it is an offshore based broker. 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.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

We do not find any mention of the means through which the broker or customer care can be reached. This is discouraging as information is lacking on the page and traders may want to know more.

Conclusion

We find the lack of licensing by this broker a disadvantage. Also, since JB Global Trading do not provide terms and conditions, it is difficult to know what fees and charges are present or absent. It gives trading conditions which are tempting but the minimum requirement is high.

It is not advised to trade with this broker as there are too many disadvantages.

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Fortrade

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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JB GlobalTrading review – 5 things you should know about Jbglobaltrading.com

Beware! JB GlobalTrading is an offshore broker! Your investment may be at risk.

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

JB GlobalTrading is a Forex brokerage registered in the Marshall Islands. The required minimum deposit is $500 and twice the industry average and the MetaTrader 4 trading platform is available for clients.

JB GlobalTrading regulation & safety of funds

The corporate information shown on the website is a bit chaotic which is a worrisome sign from the start. We first read that the company behind the brokerage is supposedly regulated by the Financial Conduct Authority in the UK.

However, upon searching through the online registry of the FCA we were unable to find any mention of the broker brand. Furthermore, it actually turns out that the brokerage is registered in the Marshall Islands which leaves no question as to regulation. Here is a screenshot:

As was said above, the corporate information is quite chaotic. This is definitely not the first brokerage we encounter that is supposedly operating out of both an European country and the Marshall Islands. And no wonder since t he Marshall Islands has become a top-destination for would-be scammers due to its very liberal laws regarding the registering of companies. The government does not even require for someone to be physically there in order to register a company. Such a loophole has surely been noticed by many ill-minded brokers and utilized. Nonetheless, it’s safe to assume that JPM Invest, irrespective of its legitimacy, does not fall under any regulatory oversight whatsoever because the government of the Marshall Islands does not include Forex trading within its regulatory framework.

Traders needn’t have to worry themselves with such risk if they choose to trade with a brokerage regulated and authorized by a prestigious regulatory agency. Such agencies are the FCA in the UK or CySec in Cyprus which have been leading names in Forex trading for some time now. Their regulatory framework is composed of a number of strict rules which prevent clients from falling victims to fraud. Such rules include the segregation of accounts which assures that commingling with the client’s money is not possible. Furthermore, a license by such a regulatory body entails participation in a financial mechanism by which clients may be compensated if they suffer losses due to fraud or bankruptcy. The FCA provides up to 85 000 pounds per person, while CySEC guarantees up to 20 000 euros.

JB GlobalTrading trading software

The brokerage does not provide the MetaTrader 4 trading platform which we always consider a huge advantage since it is the foremost trading terminal at the moment equipped with features such as almost a 100 market indicators, as well as customizable trading robots. It is also the preferred choice for more than 80 percent of the traders in Forex. We were able to register for a demo account. Here is a screenshot:

The spread is just about the industry average of a pip and a half which is within what we would consider favorable for traders. Furthermore, there is a wide range of trading products including CFDs on indices, stocks, currency pairs and others. The required minimum deposit, however, is quite high at $500 and the platform itself is actually provided by a third party which is something we do not condone. Together with the purposefully misleading information presented on the website we are inclined to question the legitimacy of the brokerage.

JB GlobalTrading deposit/withdrawal methods and fees

Potential clients of the brokerage may deposit or withdraw only via the standard Visa and MasterCard, as well as bank wire. Popular online payment gateways such as Skrill and Neteller.

In the terms and conditions of the brokerage we did not find any worrisome provisions, although, we view this with suspicion and advise traders to steer clear from the brokerage.
Trading with an unregulated brokerage is quite risky and this is why we always advise traders to put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.

How does the scam work?

Unfortunately, the possibility of a scam looms over almost every trade in Forex, especially if you are dealing with an unregulated brokerage. That is why we believe traders should be acquainted with the methods of a scam. Here is how it would typically go about:

Through clicking an ad with promises for fast money, you will be redirected to a website such as Bitcoin Evolution or Crypto Cash where registration will require you to give your address, email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.

After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The motive here is quite straightforward – traders have a limited time window for filing a chargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing this crucial period and, along the way, losing any chance you might have of getting the money back.

What to do when scammed?

As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.

You may contact your bank or credit card provider and file a chargeback. Furthermore, due to the high instances of fraud – both Visa and MasterCard have decided to sidestep scammers as best they can in Forex trading. The first thing we have seen so far is that MasterCard has increased the previous time period of six months for filing a chargeback to a year and a half.

If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way!

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