JMD Broker: traders’ reviews and offers analysis
Company JMD Broker Activity: Overview for Beginners and Professionals
Introducing you to the company JMD Broker, offering a wide range of services for clients of different levels of experience. There are no reviews about it online yet, so our overview will be especially useful for those seeking a reliable broker and exploring various options.
Main Facts about JMD Broker
There is little to say about JMD Broker as information on its website is extremely limited. The site itself is presented very modestly.
The only information available about the broker on its own site is about its British origin and license from the FCA, the main regulator in the UK. To confirm this fact, a link to the corresponding entry in the register is attached.
Information about the license issued by the FCA to the company Just Mortgages Direct Limited, acting on behalf of its principal, Openwork Limited, is also confirmed. However, JMD Broker is not affiliated with these organizations, as their main activities are related to real estate and mortgage lending, which can be found on the original Just Mortgages Direct Limited website (justmortgages.co.uk).
JMD Broker, like many others, pretends to be part of a real company. Scammers usually choose companies involved in lending, insurance, and similar areas, hoping that users will only check superficial data.
All indications are that JMD Broker is a scam project. Firstly, the company has only been in existence for a few weeks, hence the lack of reviews and mentions. Secondly, the information about the registrant is highly questionable.
The owner, known as “Sergei Frolov,” owns about a hundred domains, including pseudo-brokers, investment firms, cryptocurrency exchanges, and other similar projects. Undoubtedly, JMD Broker is a typical representative of scammers, not a broker with a real office in the center of London.
Regulation of JMD Broker’s Activities
As established, the company has no connections with British legislation and the financial market. No information about other licenses was found on the site. However, since JMD Broker offers its services in Russia, it must have a license from the Central Bank in accordance with Law No. 460-FZ. However, the check showed that the organizers of JMD Broker ignored this rule.
In addition, there is no documentation on the site regulating client relations. Despite collecting users’ personal data, JMD Broker has not provided a “Privacy Policy,” violating Law No. 152-FZ “On Personal Data.”
There is also no information about risks, which even the most unreliable companies usually provide. Overall, JMD Broker violates numerous laws and deserves attention solely from law enforcement agencies.
Account Selection and Trading Conditions for Traders
For those who want to register on the JMD Broker website, four types of accounts are available.
The minimum deposits are $50, and the maximum is $70,000. Interestingly, the company offers high leverage to large clients and low leverage to those working with smaller amounts. It seems that JMD Broker aims to quickly relieve wealthy traders of their deposits.
Registered users are offered training, support, and the opportunity to trade on a demo account for practice. However, the existence of real customer reviews of such services is doubtful. Nevertheless, the promise of a personal manager being available as long as it is beneficial for the company remains a fact.
Detailed information on withdrawal methods, bonus policies, and trading rules is absent from the site. Documents defining the transaction process are also not provided. All of this gives additional reason to reject JMD Broker’s services and choose another broker who adheres to principles of trust and transparency in client relationships.
Trader Reviews of Working with JMD Broker
Considering the company’s youth, it is not surprising that it has no reviews or mentions yet. In case of increasing popularity, reviews will not be long in coming. We intend to supplement this section with authentic stories of clients who have cooperated with the intermediary.
Mechanism of Deceiving Traders by JMD Broker
Similar fake companies, like our hero, deceive people by taking advantage of their inexperience, trust, and desire for quick earnings. The scam begins with a call or message from a company representative on social networks. Managers praise the company, promise steady income, and share false reviews.
After registering an account, various situations can occur. Scammers may immediately block your account and not respond to messages. If the client shows promise, scammers may mimic trading in the trading terminal for a while and even allow withdrawals. However, this is just a ruse to attract additional funds. Reviews may contain stories of how naive traders took out loans and pledged their property to replenish their deposits and earn the promised income.
When a client wishes to withdraw a substantial sum or stops responding to offers to top up the account, they are instantly “scammed.” Contacting customer support or law enforcement agencies is futile as the company is fictitious, and its organizers are whereabouts unknown.
Review Summary: JMD Broker – Scam Project or British Broker?
Based on the research, it can be stated that JMD Broker is a fictitious company, another pseudo-broker that has only been in existence for a few weeks. It has no registration or license and is merely a deception using a false name. There is not a single real review or mention of it online. In conclusion, do not engage with such scammers.