SJFX (Shinejoinmarkets.com) is a CFDs and Forex scam broker to hit the lucrative trading world. SJ FX is claiming to offer Forex, Metals, energies, indices, and CFDs to anyone who signs up with them. SJFX is also referred to as Shine Join Markets which to be honest, is nothing but a shady scam broker. Here, we will reveal all the dirty tricks used by these scammers to defraud online investors.
These scammers know for a fact that we all want to make a quick buck or two. This is where scammers take advantage by claiming to help satisfy this need to make extra money. Scammers come up with products and services that are look like are genuine but are far from it. SJFX is simply trying to legitimize their services and sign up as many investors as they possibly can. And this is why signing up with this broker is not advisable.
Claims and promises is what leads many investors to sign up with fake brokers. Problem with investors is that they don’t take time to investigate some of these brokers. That’s why reviews were created to help cast light on some of these brokers. Read this review and get to know shocking tricks scammers use to defraud unsuspecting investors. Here’s what we found out regarding SJFX.
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According to the disclaimer at the bottom of the homepage, Shine Joint Markets owns this website. There’s no mention as to any mother company that’s behind SJFX and this is a major problem. What they plainly state is that they are based in Beachmont Kingston, making it an offshore brokerage firm. As we always state in almost all our reviews, it’s hard to trust these offshore brokers for a number of reasons.
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One major problem we have with SJFX is the level of anonymity with this brokerage firm. Why have they failed to mention the real people behind this firm? During our investigation, we found an Indian on YouTube explain how SJFX works. Note that this could be a hired actor paid to say how this platform works. That’s another reason we are against anyone signing up with Shine Join Markets.
SJFX is not licensed or regulated by any known financial regulatory body anywhere on the face of the planet. That’s not all, being an offshore broker; it makes it virtually impossible for them to follow set guidelines and regulations. As a matter of fact, they fail to give out any information regarding their licensing. There’s nowhere on their homepage can we find a licensing or registration number.
If SJFX does have a license and registration number, where is it? Any legit broker will easily post registration certificated and documentation. This is clear proof that we are dealing with an unauthorized Forex broker. They don’t have authority to conduct any Forex business on behalf of any third party. This makes Shine Join Market a dangerous entity to have or partner with when it comes to Forex trading.
This broker has gone a step further in conning users with a rigged demo account. SJFX has rigged their demo account in favor of users. Don’t think that this is a good idea, there’s more than meets the eye. A demo account is meant to give users a feel of what to expect with a trading platform. This rogue broker has rigged the demo account to make over 90% successful trades on behalf of users.
A clever stunt is what they have done since they make users believe that they can win with a real account. And this is where the trap is set as users will want to make real money with a real account. Problem with this is that a real account is different from a demo account. Users are required to deposit real money in order to trade. These brokers are in league with other rogue brokers to share the spoils, your deposits.
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SJFX claims to use Meta Trader 5 platform for their trading requirements. What we did was try and download this platform on various devices. What this means is that their MT5 platform is highly unstable.
An unstable platform is dangerous as it leaves users vulnerable to cyber-attacks. Hackers will easily gain access to unstable platforms and steal personal data and credit card information. This is why SJFX is clearly a broker that should be shut down by relevant authorities. Don’t want until hackers steal your personal information, stay away from Shine Join Markets.
Folks, funds are never safe with an offshore broker who is anonymous. Another big problem with this broker is that they fail to mention their depository bank. Where do they actually deposit money from users? Failure to disclose this information is proof enough that funds are not safe with this anonymous broker.
What about segregation of accounts? For all we know, this broker does not segregate member accounts. This means that they are pooling funds in one account which is quiet dangerous. In case of bankruptcy or insolvency, all money will be lost since they are in one account. Did you know that users maybe depositing money straight to owner’s personal bank account? And now you know better than to sign up with SJFX.
Funny thing with this brokerage firm is that they don’t have a contact us page or dashboard. How do they expect users to contact them in case of emergencies or queries? Why do they not offer live chat support to Forex investors? Reason is that this broker plans to remain anonymous and doesn’t want anyone contacting them.
One would expect that they at least offer bot services. They also forfeit to offer bot services which is unusual. Level of anonymity with this broker is high and we cannot trust them with our funds. There’s even no email contact that one can see on their homepage. They are deliberately leaving their contact details for a reason. These scammers don’t want to receive any backlash from authorities and victims.
All facts point that we are dealing with a Forex scam provider. Mark all their emails as Spam and never click on any links sent by these brokers. These links contain malware meant to steal personal data as well as credit card information.
It’s crystal clear that we are dealing with a professional scam outfit. Evidence we have on our hands is proof enough this is a scam. Option left for us is to add this broker in our scam blacklist. Ensure that you warn your friends and relatives from signing up with this broker. This review is truthful and full of facts that can be easily verified by you.
Go for Forex brokers that offer Comfortable and Convenient Forex products and services. Start making real money with Accountable and Honest Forex brokers who have been vetted by the trading community. This is a sure way of stating safe trading Forex.
We wish you all the best in your Forex trading experience
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