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JPMInvest Review - is it scam or safe?

JPMInvest review - Is jpm-invest.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz JPMInvest
JPMInvest is an offshore broker. Your money is not safe.

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JPM Invest presents itself as a forex and CFD broker offering STP trade execution with three account types, leverage as high as 1:500 and the MetaTrader4 platform.

 

Account type Min. deposit Max. leverage Spreads
Standard Account $100 1:100 2,4 pips
Gold Account $1000 1:200 n/a
Pro Account $10 000 1:500 n/a

 

As good as all of this may sound, you should beware that JPM Invest is not a regulated broker, so trading with them could prove quite risky. Be sure to read this review before investing any funds with them.

 

JPM Invest Advantages:

 

Supposedly fine selection of trading instruments

 

We were not able to open a demo account and verify the JPM Invest offer and yet we will credit them with the selection of trading instruments they claim to offer – some 70 currency pairs many of which minor or exotic like USDHKD, USDPLN, USDTRY, USDDKK, USDNOK, USDSEK, USDZAR and USDMXN, as well as CFDs on silver, gold, oil, natural gas, soft commodities, 9 indices, 20 shares and a number of crypto coins like Bitcoin, Ripple, Dashcoin, Ethereum, Monero, EOS, Litecoin, Emercoin, IOTA, MBT, Namecoin, OmiseGo, PeerCoin and UST. 

 

Besides, if you like the idea of trading crypto assets here you may check our list of brokers trading with bitcoin CFDs as well:

 

>>Bitcoin Forex Brokers<<

 

Leverage of up to 1:500

 

We rarely see leverage as high as 1:500, especially since virtually all regulators in Europe, North America and now even Australia capped the maximum leverage allowed with forx and CFD transactions well under 1:100. And this is done with the idea to protect retail investors from excessive risks. So if you ever get the chance to trade with higher leverage be sure to use it with caution.

 

JPM Invest says to be offering MetaTrader4

 

We were not able to open the MetaTrader4 JPM Invest claims to be offering and yet we should note that this is a remarkable trading platform – it is reliable, light and sports many features as for example the customizable market indicators and the trading robots with the help of which one can easily run automated trading sessions. And the platform also has an excellent set of advanced charting tools, so here you may also check our list of brokers, supporting MT4:

 

>>MT4 Brokers<<

 

Acceptable minimum deposit requirement

 

In one section of their presentation JPM Invest say you can open a trading account with just 100 USD, while in another they mention 250 USD. In any case this is more or less what other brokers would also require. Just keep in mind that some well known brokers like FBS and IG will let you start trading with just 5 USD or even less.

 

JPM Invest Disadvantages:

 

No license

 

JPM Invest says to be owned and operated by MCF Invest Group Ltd. - an offshore company based on the Marshall Islands, but that all payments are processed by MCF Media Solutions Ltd, a company based in Bulgaria. Here we should note that JPM Invest Terms and Conditions are signed by MCF Media Solutions Ltd, the Bulgarian company, so we are not quite sure which of the two companies is the legal owner of the broker.

 

In any case neither the MCF Media Solutions Ltd nor the Marshall Islands based company are licensed and authorized by an official regulator like the Bulgarian Financial Supervision Commission (FSC) or let say the Financial Conduct Authority in the UK or the Cyprus Securities and Exchange Commission (CySEC). So basically JPM Invest does not have legal right to provide any services on regulated markets like the EU.

 

And besides, with a FCA regulated brokers your funds will even be insured for up to 85 000 GBP. So here you may also check our list of brokers, licensed by the British regulator:

 

>>FCA Regulated Forex Brokers<< 

 

Beware of trading bonuses

 

JPM Invest may offer you trading bonuses, but we do not consider that as an advantage. The problem here is that according to JPM Invest Terms and Conditions you will not be able to withdraw a single dollar from your account, even your initial deposit, until you fulfill a certain minimum trade volume requirement – each bonus dollar have to be traded 10 000 times. See for yourself:

 

 

Besides the practice of offering trading bonuses is highly controversial and has been banned on many regulated markets as for example the European Union, precisely because scammers use trading bonuses as a pretext to cancel your withdraw requests.

 

JPM Invest reserves the right to charge you various fees on their sole discretion

 

In their Terms and Conditions JPM Invest says they may “introduce additional fees and charges, and may change any existing fees and charges, at any time”. See for yourself:

 

 

On top of that they charge a withdraw fee of 35 USD and a 50 USD monthly inactivity fee if you have not traded for 90 days,. This is not a usual practice. Legit brokers may charge you an inactivity fee only if you have not traded for at least a year.

 

No demo account

 

As we noted, we were not able to open a demo account with JPM Invest so we can not comment on their spreads. Just keep in mind that spreads in general are considered attractive with a standard account, if they start below 1,5 pips. Here you may check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Few payment methods

 

JPM Invest  says they accept payments only with credit cards like VISA, MasterCard, Maestro and Dinners. No e-wallets like Skrill for example are accepted and that is worth making a point. According to their new anti scam policy Skrill partners only with licensed brokers. As we already noted JPM Invest does not have a license whatsoever.

 

Conclusion: 

 

JPM Invest is not a regulated broker and that makes any dealings with them extremely risky. On top of that we came across some rather disturbing conditions and unusual fees in their Client Agreement, and that is yet another reason why we would suggest that you avoid trading with unregulated, offshore brokers altogether.

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Traders` reviews for JPMInvest

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