JMP Capitals Review: Untangling Gordian Knot of Deception

The internet is full of various confidence tricksters trying to pick your bones clean. While their deceptive strategies vary slightly from case to case, ultimately they all seek only to get inside your pockets.

This fake firm tries to impress an idea of legitimacy by showing a license issued by a non-existent regulator. See more on financial fraud and asset recovery in our JMP Capitals review.

 Lies About Registration

There’s so much to discuss regarding this broker’s legal status. Although they’re most definitely a faux company, it is important to clarify all doubts and debunk their lies.

The fake broker has nothing to do with the legitimate entity they claim to be affiliated with. JMP Capital Management Pte. Ltd. is legally registered in Singapore and is in no way connected to the fake JMP Capitals app for online trading. 

Also, the website states that the company we’re reviewing is registered with the Singaporean financial authority – MAS. These statements can’t be more unreal, as evident from the regulator’s database.

Finally, these charlatans impersonating financial advisors and investment professionals claim to be licensed by a fictitious authority called CADFIRA. Like several other financial watchdogs, BaFin also refers to this entity as one of the “non-existent authorities”.

Multiple Warnings

We’ve already proven that this business is just an online financial con scheme. What’s left is to list all of the warnings published by regulatory bodies from all over the world.

Their primary target is Canadian investors, which is why the firm was blacklisted by BCSC and CSA. This publication was later reposted by AFM and IOSCO, indicating that the miscreants were also preying on EU traders.

Please don’t forget that in order to trade safely and have access to negative balance insurance, controlled leverage and compensation options, you’ll have to invest on regulated platforms.

English Speaking Traders as Targets

Contrary to what these frauds claim about their alleged long-term business plans, the evidence speaks against them. You see, this domain has only been operating since some point in 2024. All of their talk about being long-time professionals in the Forex field is nothing but blatant lies.

What is evident, however, is that they’ve mostly been targeting traders from these nations, just like Wissix Trust Group:

• Canada
• Australia
• United Kingdom

If you suspect to be targeted for scam, make sure you contact us so we can act promptly to help you recover any funds lost to online investment schemes.

Phony Reviews

Desperate to appear legitimate and reliable, these swindlers have also resorted to buying positive reviews. The JMP Capitals reviews we found on Trustpilot, Reviews.io and Sitejabber are entirely falsified. 

This is a common scam strategy used to manipulate traders into thinking they would be investing with a trustworthy broker. Several of the negative opinions actually point out the company’s true state and accentuate its role as a money-extortion machine.

Simulated Trading

Many times before, we’ve discussed the risks involved in investing in counterfeit trading portals. This manipulated trading terminal is just another weapon in the huge scam arsenal. It is a tool that will mislead you into thinking that earning is possible.

You won’t be properly equipped to make educated decisions and enhance your strategies without advanced features and customization tools. That’s why we recommend you avoid these suspicious sites entirely, whatever they may promise.

Accounts: Priced Above Reason

Whatever JMP Capitals account you decide to buy, you will be promised world-class features and exceptional treatment. All of that is just lies and excuses to pump up the prices of the packages. 

It’s highly characteristic for unlicensed entities to promise a lot only to force their victims into depositing huge sums. These packages illustrate that perfectly:

• STANDARD – $250
• BRONZE – $2.500
• SILVER – $10.000
• GOLD – $100.000
• PLATINUM – $500.000
• VIP – $1.000.000

Trading Terms and Fees

Members with the JMP Capitals login can access the trading zone where the maximum available leverage is set at 1:100. 

Furthermore, the broker claims to apply a $0.65 per contract fee. However, it is also said that a $0.0 commission is charged for ETFs, options, and stocks, which doesn’t match the previous claim. All of this mumbo-jumbo makes you feel like the con artists are just pulling your leg for nothing.

There’s also a €25 and €50 fee for each bank transfer, plus an additional administration fee of 5% or 25 EUR/USD, in addition to the standard 5% withdrawal tax.

Withdrawal Difficulties

There are several funding methods supported on this server:

• Bank wire
• Card transfer
• Crypto

The majority of JMP Capitals withdrawal requests are declined, which means that you won’t be allowed to pull out your initial investment or cash in on any profits. After all, that is the main reason why this platform has been blacklisted many times before.

Best we can do for now is advise you not to invest at all, especially via less transparent channels like crypto. These transactions allow for the con artists to remain anonymous. In addition, sharing your credit card details can also leave you penniless, but at least you will still be able to request a chargeback.

Start Chargeback Today!

Staying vigilant and well informed will help you avoid financial cons like Fintexa and many others. But if you’ve already fallen for a suspicious online proposal, don’t panic.

Contact our legal advisors and we will guide you through the process of issuing a chargeback or tracing your stolen crypto assets. For more information, you can always contact our chat agents and book a free consultation.

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