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JBGlobal Trading Review - is it scam or safe?

JBGlobal Trading review - Is jbglobaltrading.com scam or good forex broker?

RATING: 1.1 / 1 REVIEWS ForexBrokerz JBGlobal Trading
JBGlobal Trading is an offshore broker. Your money is not safe.

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JBGlobal Trading is an offshore forex and CFD broker, offering four account types with leverage of up to 1:200 and the MetaTrader4 platform.

 

Account type Min. deposit Max. leverage Spreads
Standard Account $500 1:200 1,5 pip, floating
Silver Account 2500 1:200 n/a
Gold Account 10 000 1:200 n/a
Platinum Account 50 000 1:200 n/a

 

Unfortunately this is yet another unregulated broker with a number of issues, which we will discuss in some length in our review.

 

JBGlobal Trading Advantages:

 

Over 60 forex pairs and various CFDs

 

We usually start our reviews with any possible advantages about our brokers, so here we will credit JBGlobal Trading for the comprehensive selection of forex pairs – over 60, lots of which exotic or minor like USDDKK, USDHKD, USDHUF, USDMXN, USDNOK, USDSEK, USDSGD, USDRUB, USDTRY, EURCZK, USDPLN, USDCNH and EURZAR. 

 

And apart from that available on their trading platform were CFDs on gold, silver, platinum and palladium, soybean, corn, wheat, cotton, coffee, cocoa and sugar, oil and natural gas, a number of indices, stocks and even crypto coins like Bitcoin, Litecoin, Ethereum, Bitcoin Cash and Ripple. But if you like the idea of trading crypto currencies, here we will suggest that you check our list of regulated brokers, offering bitcoin CFDs:

 

 >>Bitcoin Forex Brokers<<

 

Leverage of up to 1:200

 

Leverage as high as 1:200 will definitely fit even the most aggressive trading strategy. And yet you should use higher leverage with extra caution as it may also multiply your loses with the slightest fluctuation of the market.  Also, bear in mind that in the past year or so virtually all regulators throughout Europe, the U.S., Canada, Japan and now even Australia, curbed the maximum leverage allowed for retail traders to well under 1:100.

 

Acceptable spreads

 

As tested with a demo account the benchmark EURUSD spread floated about 1,5 pips and this is in the upper range of what traders usually consider acceptable with a standard account. Still here you may also check our list of brokers offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

MetaTrader4 supported

 

MetaTrader4 is available on the JBGlobal Trading homepage, but it is provided by a third party - Lexbond Systems Limited, which is not a usual practice.

 

 

Still we will credit  JBGlobal Trading for the platform, as it is one of the best trading solutions on the market. It features numerous market indicators, as well as trading bots, with the help of which one may easily run automated trading sessions. 

 

On top of that MT4 is equipped with an excellent set of advanced charting tools, so here you may also check our list of brokers, which support the platform:

 

>>MT4 Brokers<<

 

JBGlobal Tradin Disadvantages:

 

Not regulated

 

JBGlobal Trading says to be owned by an offshore company -  MTC Group Ltd., incorporated on the Marshall Islands, while in the same time it say to be operated by JB Global Trading – another company about which we are not given any details. And the broker does not mention anything about regulation, which significantly lowers its credibility.

 

Bear in mind that proper regulation is the single factor that ensures the safety of your funds. And besides, unregulated brokers are not legally allowed to target customers on regulated markets like the European Union for example.

 

What is more all EU regulated brokers, including those regulated by the Financial Conduct Authority (FCA) in the UK are even obliged to participate in client compensation funds, which basically insure your trading account. With FCA brokers that insurance covers up to 85 000 GBP, so here you may also check our list of brokers regulated in the UK:

 

>>FCA Regulated Forex Brokers<< 

 

Fake awards

 

On their homepage JBGlobal Trading boosts to have been awarded with several forex broker awards and we decided to check this. As we suspected all of this turned out not to be true.

 

 

Terms and Conditions not available

 

This is a very serious issue. The Terms and Condition or the client agreement is a key legal document establishing the relations between the trader and the broker. So when we proceeded with our registration and we were asked to agree with JBGlobal Trading T&C, it turned out the document is not available. 

 

 

So basically if you open a live account with JBGlobal Trading you will have to agree with something you have not read.

 

Excessive minimum deposit requirement

 

With most brokers you will be able to open a trading account with about 250 USD, but JBGlobal Trading asks for 500 USD – twice the usual amount. And besides, with some big names in the industry like FBS and IG you will be able to start trading with virtually 5 USD or even less.

 

Few payment methods

 

As it turned out the only payment methods available at JBGlobal Trading are bank wire and an e-wallet we have not heard of before – NasPay. There is no option to pay with credit cards or popular e-wallets like Neteller and Skrill and that is worth mentioning, because of the new anti scam policy Skrill adopted a year ago. According it, Skrill partners only with licensed brokers, and as we already established JBGlobal Trading is not among the licensed ones.

 

Conclusion:

 

You can not trust unregulated offshore brokers like JBGlobal Trading for one simple reason – they are completely unaccountable for the way they handle your money. So our advise in general is to avoid unregulated brokers altogether and to trade only with properly licensed ones, authorized by official institutions like the FCA in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC).

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Traders` reviews for JBGlobal Trading

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