JB Global Trading

JB Global Trading looks promising enough, with its interface and all the animations, but this barely covers the necessities. Read the review to find out just what this broker has to offer.

The footer states that JB Global Trading is owned by MTC Group Ltd. The company is registered in the Marshall Islands, and as we know this nation does not have a financial regulator, meaning that even if the broker is registered there, it most certainly is not regulated by any entity.

Furthermore, the broker claims to be regulated by the FCA, yet this is just a diversion from the fact of the matter that JB Global Trading is an offshore broker, and thus cannot be actually regulated by the FCA (we checked the online registered which bore zero results). However, MTC Group Ltd did come out at the FCA register, and it turns out that this company is no broker holder, but a digital marketing company with a limited website, which in turn made us suspicious of it, but we digress. What’s important is that MTC Group Ltd is not tied in any way to JB Global Trading.
And seeing as the website offers no other insight on a license, we must deem JB Global Trading as an UNREGULATED broker, and thus a risk to all traders.

We strongly advise traders to trade only with regulated brokers that hold a license from renowned and severe institutions such as the FCA or CySEC. Not only do these agencies oversee operations and require regular reports from brokers registered with them, but those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC)

We easily opened an account, which is always a bad sign, and were given a very shifting EUR/USD spread that continuously fluctuates around 2,2 pips, which is not at all generous for traders. The leverage is capped at 1:500, a typical value for offshore brokers.

The trading platform gave us Forex Pairs, Crypto, Indices, Futures, Shares, and Commodities to work with.

The languages are Arabic, Chinese, English, Dutch, French, German, Italian, Portuguese, Russian, and Spanish.

JB GLOBAL TRADING LOGIN

The broker advertises two platforms, but one of them is problematic, while the other does nothing new.

JB GLOBAL TRADING WEBTRADER

This webtrader is convenient and looks well enough. There are some options for customization, and the overall feel of it is quite decent. Traders can set multiple time frames, add chart indicators, among other things. All in all, a handy trader.

The EUR/USD spread is typically on the 2.2 pips mark, but at times it fluctuates, while the leverage is capped at 1:500.

In the Terms and Conditions the broker mentions of the possibility of commissions, but fails to deliver on any specified sums. We went through the website as instructed in the clause, and found no details.

METATRADER 4

We will be short. The MT4 offered here is not owned by the broker, but by a certain LexbondSystems, a dissolved UK company. So in fact, all claims that JB Global Trading offers a MT4 are false.

JB GLOBAL TRADING MINIMUM DEPOSIT

The only payment method is NasaPay. This is what we got from the client portal.

When we proceeded with the NasaPay payment, we were not limited to a minimum deposit amount.

Once more: this broker is clearly unregulated, and if you choose fund an account with it, it will put you directly at risk of losing all funds. For safekeeping your money, we strongly advise to avoid all brokers who do not have a proper license from renowned regulatory bodies. Agencies like the FCA and CySEC stand out as some of the top license issuers in the world, notorious for their severe requirements and close relationships with the law.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

Never give away your CVV code without first making sure that the broker is regulated by an efficient agency. By giving away your Card info with the CVV code to some unconfirmed person you are literally giving access to your funds, and if these details fall into the wrong hands, rest assured that your bank account will be promptly emptied.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

A novice mistake that has been numerously repeated and taken advantage of is providing access to your computer and bank account via AnyDesk or TeamViewer. These two softwares allow for others (in our case the people behind the shady brokerage) to log-in to your PC and flip through all files and browsers, essentially taking over your computer as another user and having access to your personal information like bank account passwords, credit card information etc. Thankfully, these platforms are completely legal and will need your own personal approval in order to be used.

JB GLOBAL TRADING WITHDRAWAL TIME AND FEES

The withdrawal process is a joke. We entered fake details into the withdrawal form on the client area, and were given a Success pop up message:

This can mean only one thing; that the broker does not actually allow for withdrawals, meaning that traders will not actually get any of their money back. There is no minimum, no processing times, and whether there are fees or not makes absolutely no difference.

ADDITIONAL FEES AND TAXES

None of the legal documents have any clauses that draw attention. And as we have seen the broker easily offers withdrawals, but does nothing to actually return the money. We are certain that if one tries to contact the broker her or she will get no answer.

ACCOUNT VERIFICATION

If a broker is unlicensed, never give you ID and personal details to it, because the broker will use these details against you once you file for a charge back. Furthermore, any allegation held against the brokerage will be easily refuted if they have in their possession a copy of your ID and proof of address.

We are positive that this so called broker will not return your funds; the evidence we have laid out before you work in sync against it. The sound thing to do is to direct your attention and investment to an FCA or CySEC licensed broker where the law is integrated in every aspect of their operations.

HOW TO RECOVER

The most sound advise we could give you is to immediately file for a chargeback with you credit card company.

Any details you might have shared with the broker, most notably the CVV code, are sure to be used against you, thus you should swiftly cancel your credit card ASAP.

Victimized traders will have their guards down looking for every opportunity to get their money back. This is where the fake recovery agents come in, seeing an opportunity in your desperateness. First of all, they will promise to recover all your money, but they will ask a fee to cover their services. Once this fee is paid rest assured that you will never again hear from them.

The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!

BOTTOM LINE

Please do yourself and everyone else a favor and stay as far away as possible from JB Global Trading. There is nothing for you here expect the loss of your money.