Score

3.65 /10
Danger

JFM

Australia

15-20 years

Regulated in Australia

Institution Forex License (STP)

Suspicious Scope of Business

High potential risk

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Score

Regulatory Index4.94

Business Index8.88

Risk Management Index0.00

Software Index4.44

License Index3.05

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Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

JFM Online Trading Broker

Company Abbreviation

JFM

Platform registered country and region

Australia

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 2
Previous Detection : 2024-11-16
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • The AustraliaASIC (Regulatory number: 314585) Institution Forex License (STP) held by belongs to the scope of institutional business, excluding retail business. It cannot open accounts for individual investors. Be aware of the risks!

WikiFX Verification

JFM · Company summary

What is JFM?

JFM, a forex broker that has claimed to have been operating for an extended period, around 20 years, has become elusive and virtually untraceable on the internet. Despite being registered in Australia, the firm's online presence appears to have vanished, leaving prospective and existing clients with little to no information about the company's current status, operations, or regulatory standing.

What is JFM?

Regulation: Legal Operation

JFM is regulated by the Australia Securities & Investment Commission (ASIC) with Institution Forex License (STP) under license no. 314585. This means this brokerage operates in a legal scope, which could add an extra layer of security for this broker.

Regulation: Legal Operation

Official Website: Inaccessible

JFM's official website at http://en.jfm-fx.com/ is currently non-functional. When attempting to access this URL, the page fails to load properly. Nothing can be found on its official website.

Official Website: Inaccessible

Conclusion

JFM, a regulated forex broker, has unexpectedly ceased its business operations due to undisclosed reasons. While the firm was previously registered and licensed, it should be an ideal choice for investors who want to involve trading activities. More transparent and reputable forex providers should be considered before considering JFM as a trading partner.

User Reviews

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User comment

4

Comments

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Noah Smith
more than one year
Trying to deposit using Bitcoin here was a frustrating exercise! Not only did I receive zero assistance, but the fees and commissions were big, eating into my capital before I even made a trade. It felt like losing money before the game even started. To top it off, the spreads were consistently 100-200% wider than advertised on their website. I can't fathom the abundance of positive reviews – are they buying them? Because based on my experience, there are far better brokers out there.
Trying to deposit using Bitcoin here was a frustrating exercise! Not only did I receive zero assistance, but the fees and commissions were big, eating into my capital before I even made a trade. It felt like losing money before the game even started. To top it off, the spreads were consistently 100-200% wider than advertised on their website. I can't fathom the abundance of positive reviews – are they buying them? Because based on my experience, there are far better brokers out there.
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2024-04-18 15:10
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BigoneTrader
more than one year
Forget about trading the latest cryptos or hot commodities, this place is barely keeping up with the major currency pairs. And the trading platform? Oof, it's so clunky and glitchy, you'll be pulling your hair out in frustration. So happy, they had gone!
Forget about trading the latest cryptos or hot commodities, this place is barely keeping up with the major currency pairs. And the trading platform? Oof, it's so clunky and glitchy, you'll be pulling your hair out in frustration. So happy, they had gone!
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2024-04-18 12:22
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