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JFS Brokers Review: A Cloned Platform (jfsbrokers.com)

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JFS Brokers Review: A Cloned Platform (jfsbrokers.com)

JFS Brokers or Jackson Friendly Society brokers (jfsbrokers.com) is a clone. The platform has been operating under the disguise of another platform in the UK. Sadly, there have been hundreds of cases from investors who lost funds with the platform. We need to expose JFSBrokers and ensure no one else falls for this trap. But, instead, what we have is a clone platform taking advantage of naïve investors. Here’s more in our detailed JFS BROKERS REVIEW.

JFS Brokers Review

About JFS Brokers

Although the platform claims to be a member of the Financial commission, there are no records to prove it. So instead, what we have is a platform using the credentials of another legit platform. And this will help investors avoid JFS Brokers and the risks that come with them.

An attempt by the platform to block accounts is what triggered our investigation. We have been receiving complaints that the platform blocks withdrawals. As a result, members are having a hard time trying to recover funds from the platform.

There’s not much to go about when it comes to the platform’s background and history. So instead, what we have is a platform that fails to offer any investments to users. Instead, the platform creates the allure of an investment and trading platform.

You should invest in proven platforms with a reputable track record. Go for groundbreaking investment platforms such as Coin staking, DeFi, and Masternoding. It’s the best way to ensure your trading is secure.

JFS Brokers will take your money, and there’s no way authorities can help you recover them. On top of being a clone, jfsbrokers.com is an anonymous investment platform. It would be best if you stayed away from such entities.

Your priority when investing is to do due diligence on the platform. Next, ensure you take a look at what the platform has to offer in terms of security. An excellent way is reading our reviews for more on crypto and forex investment and trading platforms.

Accounts JFS Brokers

JFS Brokers does not mention any account types on the homepage. You have to sign up first before you know the actual benefits of trading with the platform. What we have is an attempt by the platform to force investors into harsh trading conditions.

You should ensure you know the trading accounts and conditions available on any platform. All we get is that the platform offers normal and Islamic accounts. You can get more details on the Islamic accounts rather than the normal accounts.

We don’t know the acceptable minimum deposit with the platform. And this allows them to ask for any amount. So we have a platform that has been asking investors to deposit as much as they can.

The problem with this is that you can deposit $5,000 and get the same features as one who deposits $10. We also don’t know the acceptable leverage on the trading instruments. You should know the industry standards for both these features.

Regulators have put a cap on an acceptable minimum deposit at $100. Leverage on most trading products is put at a maximum of 1:100. In the United States, for example, leverage is put at 1:50 max for retail traders.

Affiliate and Introducing Brokers Programs

Accounts JFS Brokers

The platform does offer an affiliate program to anyone who wants to promote the platform. However, before you decide to become their ambassador, there are a few things you need to consider. First, the platform does not come anywhere close to a real trading platform.

Those who you direct to the platform will blame you for the blockade they will face when withdrawing. We have proof that the platform even tries to block communication from investors. That’s the reason you need to stay away from JFS Brokers.

Assets and Trading Instruments

There are five classes of trading instruments available on the platform. These include commodities, crypto, forex, indices, and stocks. You can trade major commodities such as wheat and sugar.

When it comes to crypto trading, the platform offers major coins against leading currencies. These coins include Bitcoin, Dogecoin, Ethereum, Litecoin, Ripple, and more. With the crypto market becoming ever-volatile, it makes sense to trade with Crypto assets.

The forex trading on this platform has a huge downside. There’s no way of telling the actual leverage as we sometimes see a shift depending on the asset. The maximum leverage we have seen is 1:500, which is totally unacceptable.

You can also trade with international markets thanks to leading indices. These include Dow Jones, NYSE, and more. The only issue we have with their indices is that they offer only four international markets.

When it comes to stocks, the platform offers stocks from international companies. In addition, you can expect to trade with the FAANG group stocks. These are some of the most sort after stocks in the market right now.

Business Holder

Information on who actually owns and runs JFSBrokers remains sketchy at best. The disclaimer at the footer of the homepage tries to show an international company. Instead, you see office information in various countries around the world.

We don’t get to see the faces and names of the people working for the company. There’s no information on their experiences and skill levels. And this makes it a dangerous platform to invest with.

You should at least know who is held responsible for your funds. In addition, the platform ought to create a profile for its staff members. That way, we would at least know their skill levels. Unfortunately, it appears that JFSBrokers is far from transparent.

Contact and support

Another important factor to check out is how well a platform communicates with members. Despite having several phone numbers on display, it’s hard to reach out. These are virtual phone numbers with the same voice-over support.

You should test how a platform communicates with members for ease of use. Members are having a hard time trying to get support to help them with their accounts. And we believe we know the reason for it.

Without any help coming, it makes it easier for the platform to ignore the plea of members. As a result, you get a platform that blocks withdrawals and fails to offer investors a better chance of trading. Avoid any platform that doesn’t offer a more direct approach to communication.

Deposit and Withdrawal

Funding Methods Jfsbrokers.com

Depositing funds with JFS Brokers is fast, and the process takes less than five minutes to complete. You use bank and wire transfers for it. The platform also accepts deposits in the form of Bitcoin and Ethereum.

Withdrawing funds with jfsbrokers.com is the hardest part of the engagement. Hundreds of members have, over time, failed to withdraw funds. The platform gives excuses as to why this is not possible.

JFS Brokers License and Regulation

JFSBrokers is not a legit platform and not recognized by the Financial Commission. We did a search on the official page of the Financial Commission for confirmation. Unfortunately, there were no results for it as the platform isn’t compliant.

Safety of funds with JFS Brokers

Your funds are far from safe with a platform that doesn’t offer investors any regulatory status. In addition, the platform does not segregate accounts or offer any insurance cover to members.

Verdict on jfsbrokers.com

Are funds safe/secure with JFS Brokers?

It would be best if you stayed away from any anonymous and unregulated investment platform.

The best way to invest is by joining reliable investment platforms with a proven track record. Then, go for the best investment decision and start making real profit margins.

Feel free to leave any comments or drop us an email with any queries.

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