JakeDeals: online reviews, website functionality rating
Evaluating Risks When Working with CFDs
CFD tools are high-risk instruments that are typically associated with profit opportunities as much as risks. However, there is a possibility of a complete loss of investments when dealing with unscrupulous brokers. Identifying a financial fraudster from a reliable company can be difficult as scammers skillfully deceive by resorting to fake licenses and awards. In this article, we will delve into the details about the company JakeDeals. This is a dark horse about which only minimal information is available on the internet. Expert reviews and customer feedback are currently absent. Let’s analyze whether it is worth engaging with this company.
Analysis of the Official Website of JakeDeals
The JakeDeals website is presented rather modestly, and does not resemble an indicator of a serious company. Despite the broker’s claims of having numerous licenses, quality control, prestigious international awards, and the use of modern IT technologies.
The domain jakedeals.com was registered back in 2013, however, there is no information about it in the web archive. It is likely that until the last update (02.08.2021), the website was inactive. Acquiring the domain could have been done to artificially extend the project’s lifespan. According to discussions on specialized forums, financial scammers often use such a method to deceive potential victims.
There is no information available about the creators of JakeDeals. This inconsistency does not speak in favor of the company. The anonymity of the project’s authors indicates that they do not wish to be held accountable for their actions. This situation is clearly outlined in the User Agreement, which also cites the following points:
- As per clause 5.10 – the company reserves the right to close a client’s access at its discretion without notice.
- In accordance with clause 5.14 – a fraudulent broker may cancel a transaction if it is not favorable to them.
- Clause 8.2 – the company is not responsible for delays in trading operations, platform malfunctions, etc.
According to the representation, JakeDeals’ headquarters is located at Nelly-Maurer-Ring 1 1550 Brig. The city of Brig in Switzerland exists, but the specified address does not. The licenses with which the broker adorned himself, like an experienced person with medals, also turned out to be false.
Activities and Services Offered by JakeDeals
JakeDeals claims to offer access to 150+ trading instruments, including:
- Major Forex currencies,
- CFDs on metals, commodities, stocks, cryptocurrencies, and indices.
A demo account is absent on the platform. Scammers realize that their scam project will soon attract a lot of negative reviews, so they do not delay. They offer several tariff plans:
- Start – initial deposit of $150. The rules of the tariff are not clear enough, only leverage of 1:100 and fast order execution are indicated.
- Professional – deposit from $1,000, offers investment in PAMM accounts, as well as access to metals and cryptocurrencies.
- Investor+ – minimum deposit of $10,000. Offers leverage up to 500x (significantly higher than that of reliable brokers), a personal manager, deposit protection and insurance, access to trading indices, ETFs.
We could not find information about the payment policy of jakedeals.com. Considering the lies about licenses and the duration of operation in the market, it is likely that you cannot earn here.
Reviews about JakeDeals
JakeDeals has only been operating for a few weeks, therefore, reviews about this pseudo-broker have not yet emerged. This is a favorable situation for scammers. They continue to deceive traders and push them to deposit more funds.
If you have something to say about your experience with JakeDeals, leave your review at the bottom of the article. All information is important, as thanks to you, someone can avoid financial losses.
Fraud Schemes at JakeDeals
The scammers at JakeDeals use well-trodden paths of financial cheats. They identify the psychological profile of each client and gradually extract money from their wallet. When the moment comes when the trader is no longer interesting, they simply sever ties with them by unilaterally canceling the agreement. This right is granted to swindlers in the User Agreement.
Expert Opinion on JakeDeals
JakeDeals is clearly not a top-tier company. It misinforms about its market experience, the presence of licenses, and approvals from international regulators. The company does not execute trades in the market but merely simulates the order execution process to lure clients into further investments. When the number of reviews becomes too many, scammers will close the project and rebrand. This tactic is common among financial fraudsters.