JB Global Trading – Is It Safe or a Scam?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
JB Global Trading - DO NOT TRADE WITH THIS PROVIDER
2.6/10
$100
Minimum Depositupdated 2020
JB Global Trading is a well-established Forex and CFD broker operating offshores.
With Marshall Islands as its address, our immediate response is to chuck this in the “do not do business with” bin. However, for the sake of a well-grounded review, we’re going to explore some of its advantages and disadvantages.
Is JB Global Trading a scam? In this review, we’re weighing in on the matter.
Surprisingly, there are quite a number of advantages to using this such as the advanced trading platform that it uses and the well-designed interface on its website.
Try these regulated brokers if you want to start trading cryptocurrencies
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Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://jbglobaltrading.com/
Founded: 2002
Regulations: Not Regulated
Languages: English
Deposit Methods: Bank Wire, NasPay
Minimum Deposit: $500
Free Demo Account: Yes
Number of Assets: N/A
Types of Assets: Forex, CFD
Trading Accounts and Conditions
JB Global Trading is a well-established Forex and CFD broker operating offshores.
With Marshall Islands as its address, our immediate response is to chuck this in the “do not do business with” bin. However, for the sake of a well-grounded review, we’re going to explore some of its advantages and disadvantages.
Is JB Global Trading a scam? In this review, we’re weighing in on the matter.
Surprisingly, there are quite a number of advantages to using this such as the advanced trading platform that it uses and the well-designed interface on its website.
Let’s break this down to the nitty and gritty details to find out if JB Global Trading is a company that is worth opening an account with–keep reading for the review.
JB Global Trading – Advantages
We know we tend to pre-judge brokerage firms on the basis of where they are allegedly registered in, but we’re overlooking that for now. Instead, we’ll explore some of the benefits that JB Global Trading has to offer first.
In our research, we found out that JB Global Trading actually uses a pretty advanced trading platform, it offers a wide range of trading options, it has exceptionally impressive leverage, and a well-designed website interface.
We explain each of these benefits below:
MetaTrader 4 trading platform
There aren’t many reliable trading platforms in the industry, but JB Global Trading uses one such platform. Often used by well-established brokerage firms, the MetaTrader 4 is equipped with tools and features that allow one to oversee trends and follow their portfolios seamlessly.
For a lot of experts (and 80% of the traders) in the trading realm, using this platform is an advantage.
With JB Global Trading, you’ll be able to get a taste of this preferred trading terminal. It can be accessed on multiple devices at varying operating systems and it is surprisingly intuitive in design too.
A wide array of trading instruments
It’s also important to note that JB Global Trading equips its traders with multiple trading instruments–60 Forex pairs to be exact.
It is able to trade in CFDs such as stocks, cryptocurrencies, agricultural produce, precious metals, stocks, and indices. All these options give traders plenty of wiggle room to explore and ultimately find a trading instrument that they are comfortable with.
Leverage of 1:200
JB Global Trading has a generous leverage of 1:200 as well. By industry standards, this is actually very impressive and has the potential to yield a lot of profit.
But here’s the thing: the more generous the leverage, the most likely it is to incur losses as well. Experts even suggest that you should stick to more conservative yet stable leverage ratio of 1.5 pips.
More so, let’s all note that some countries have imposed a leverage ceiling of 1:100 to retail traders.
Free demo
Yes, JB Global Trading offers a free demo as well. Users who are shopping around for a reliable platform will be able to test it out without committing to long-term use through it. Needless to say, this is a pretty important advantage in JB Global Trading’s favor.
Well-designed web interface
Surprisingly, one of the marks of a reliable brokerage firm is in the state of its website. JB Global Trading excels in this area. It has a modern web design with seamless integration to a variety of tools. Not to mention, it has a user-friendly interface as well which is not easy to pull off in this industry.
JB Global Trading – Disadvantages
We’ve listed down a few rather compelling reasons to do business with JB Global Trading, but there are some even more compelling reasons against it too. First of all, JB Global Trading is not regulated. Its payment method is limited, the initial deposit is too high, and they claim that they’ve won multiple awards that we’ve discovered to be fake.
No regulations
Let’s first take a look at this very important standard: licensure and regulations.
JB Global Trading claims to be an offshore account that is regulated by the Financial Conduct Authority in the UK.
Naturally, we set about in confirming the validity of this claim. Upon investigation, we found out that FCA does not have JB Global Trading in its list of regulated brokerage firms. So we continued digging and we found out that rather than the FCA, this firm is actually registered in the Marshall Islands.
So here’s the deal: the Marshall Islands is a well-known scammers paradise. There are basically zero laws regarding trading imposed here and companies can easily do as they please. This combination of lax government law enactment and deceptiveness on the part of JB Global Trading makes it hard for them to be trusted.
Without such a regulatory framework overseeing the activities of these companies, traders will have difficulty in tracking down their investments in case of misappropriation.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
Limited payment method
Ever heard of NasPay? We have and it’s a rather unknown e-wallet. This is the only e-wallet payment option that JB Global trading recognizes. It does not even give traders the option to pay via credit cards or other better-known (and safe) e-wallet options such as Skrill and Neteller.
Initial deposit is at $500
Often, brokers will ask an initial payment of $250 for you to set up your account. JB Global Trading doubles its asking price at $500–a price too steep if you ask us.
Fake accolades
In its website, JB Global Trading lists some of the awards given to it. However, upon further research, we found out that they haven’t actually won these and are downright lying about it.
To Sum Up Our Impression of JB Global Trading
This is what our overall impression of JB Global Trading is:
JB Global Trading has exhibited deceptive behavior, from its claims of being overseen by a regulatory body down to the fake accolades it posts on its website. We’re passing a hard no on doing business with them, and you’ll do well by not opening an account with them as well.
Conclusion
JB Global Trading has exhibited deceptive behavior, from its claims of being overseen by a regulatory body down to the fake accolades it posts on its website. We’re passing a hard no on doing business with them, and you’ll do well by not opening an account with them as well.
JB Global Trading
Pros
- A wide array of trading instruments
- Leverage of 1:200
- Free demo
- Well-designed web interface
Cons
- No regulations
- Limited payment method
- Initial deposit is at $500
- Fake accolades
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
eToro is a multi-asset platform which offers CFD and non CFD products. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.