JETbitX Review: Jetbitx.com Wicked Broker

Jetbitx Review
  • Regulation
  • Fund Safety
  • Customer Support
0.5

Summary

Jetbitx does not avail of its corporate address like the scam it is. That Jetbitx expects you to board its wagon without such information is bold. For compliance checks or customer service support, traders can contact the broker via telephone addresses.

While there is no denying that online investment is lucrative, this does not mean you should lower your guard while investing. Doing so would cause you to fall into the hands of predatory brokers out to defraud you. No broker can admit to being a scam, but we have a way of identifying them, regardless of their pretext. That is how we came along with Jetbitx.

JETbitX Review, JETbitX Company

The broker claims to be the world’s leading brokerage company. Moreover, Jetbitx purports to offer fast and reliable top-tier trading services. Traders on this platform can supposedly trade in indices, commodities, shares, cryptocurrencies, and forex. Nonetheless, you should not assume that the broker is an expert, keen on protecting your funds and boosting your investment just because it says so.

 For starters, proper evaluation and research are essential in identifying legitimate forex brokers. You can start with a generic search about a particular broker to know their standing in the forex market. Such a search will yield results that can shed light on any legal proceedings against the broker, its reputation with customers, and its regulation status. The subsequent review shares what we found on this broker.

Jetbitx.com Review

 It is unclear which company owns Jetbitfx. Besides being downright dodgy, the broker makes impressive statements about itself. Traders can allegedly access 1000+ trading instruments and ultra-fast executions.

Regarding its trading platform, Jetbitx claims it is intuitive. The alleged features include advanced interactive charts, risk management tools, live quotes, back-testing, and market analytics. However, we are cynical of the alleged capabilities of the web-based platform.

The broker claims to use SSL encryption for investors’ data and funds’ safety. Also, the broker claims to offer trading guidance and insights via its strategists. Whoever the owners are, they have done their homework and know what investors look for. The only thing they haven’t done is deliver.

Contact Details

A broker’s location can be used to infer reliability and, more significantly, adherence to the law when verifiable. Most legitimate brokers operate in highly regulated areas because they have no trouble following the rules. Illegal brokers conceal their identity by withholding addresses or using fictitious addresses. Additionally, fake brokers may conduct business in jurisdictions that accept fraudsters.

Jetbitx does not avail of its corporate address like the scam it is. That Jetbitx expects you to board its wagon without such information is bold. For compliance checks or customer service support, traders can contact the broker via telephone addresses. However, before contacting them, be warned that doing so could give them more ammunition to manipulate you.  

Jetbitx Investment Plan

Jetbitx advertises three investment options. The base account has a minimum deposit requirement of $10000. For this account, traders access a junior account manager, pro webinars, and price alerts. Next, the advanced account has a funding threshold of $100000. On top of base account benefits, advanced traders get daily analysis videos, silver spreads, and a senior account manager. Lastly, pro account traders need at least $250000 to open an account. The perks of this option include personalized trading strategy and executive account management.

Jetbitx.com Review, Jetbitx.com Features

Although the broker claims that you can open an account freely, nothing could be further from the truth. Its minimum deposit is $10000. You can open an account with a licensed broker with such an amount or even less. The broker’s only intention is to make you part with as much as possible. The only place you will be safe is away from this lawless broker.

Deposits & Withdrawal Rules

Reputable brokers accept conventional payment methods alongside digital currency. This allows you to trace your funds’ recipient and file for a chargeback if necessary. These brokers know what it means to be in forex investment.   

Jetbitx claims users can deposit money using OK Pay, VISA, Bank/Wire transfer, and Mastercard. However, JETbitX’s deposit menu does not currently offer any options. Fraudsters frequently use this tactic to get potential victims to contact them directly for guidance. In return, these cons steer them to dubious payment channels, usually crypto wallets. 

Transparency is imperative in the digital investment space. As such, you should not compromise on the deposit channels, the recipient’s identity, and transactional openness. Jetbitx is not forthright on its deposit methods, and you should not take it seriously.

Jetbitx Trading Platform

One of the most intriguing features of MetaTrader 5 is the algorithmic trading option, which enables you to perform automatic trading sessions using robots. This feature supports all typical features, including real-time quotations and a full range of trade orders, including pending orders. 

The software’s features also allow you to predict the price movements of financial instruments using fundamental analysis techniques. In addition, the MT 5 comes with more than 80 built-in indicators and objects. Also, you access 100 open charts and multiple time frames. Consequently, you are positioned to examine brief price fluctuations and long-term market dynamics.

Jetbitx provides a web-based platform. Although the platform has basic functionalities, you will be limited in what you can do. The broker also claims to offer copy trading services. Copy trading service allows investors to copy moves by professional traders. However, with this being a shady broker, we are not even sure that the trading is real.

Trading Conditions

Instead of mentioning JETbitX, the broker mentions another broker Crypto-Royal, in the T&Cs section of the account registration form. These discrepancies are common with bogus websites.

What’s worse is that JETbitX levies a staggering 10% fee on accounts that withdraw money before reaching “200 in turnover.” It’s unclear precisely what 200 means, although they likely mean 200 lots or 20,000,000 money units.

While regulators explicitly forbid bonuses, prize games, and promotions, Jetbitx, offers bonuses despite claiming to be regulated. The problem with such incentives is that they have predatory conditions tied to them. For instance, you need to attain a specific trading volume to access and be able to withdraw.

The European Securities and Markets Authority (ESMA) and all EU oversight agencies(BaFin, FCA, ASIC, and CySEC) impose leverage cappings. The cappings are at 1:2 for cryptos, 1:10 for commodities and minor indices, 1:20 for minor pairs, major indices, and gold, and 1:30 for major currency pairs. This capping is there to cushion investors from unnecessary losses. Jetbitx has a 1:500 leverage which breaches the mentioned capping. Consequently, traders are exposed to massive losses.

 The broker advertises starting at just 0.7 pips. Although appealing, this does not change the reality that this is a fake website, anonymous and lacking credibility. You, therefore, cannot take their word for it.

Jetbitx Regulation Status 

Jetbitx claims that its T&Cs are subject to the Republic of Estonia’s laws. Estonia is a governed jurisdiction and a constituent of the EU, and there is no conceivable way that the broker, so anonymous, could legally offer trading services there. For confirmation, we checked with the Estonian Financial Supervision Authority database, and there were no matching details of this broker. The results discredit this broker as offshore and unregulated.

There are several risks to investing with this broker. You will have no zero balance protection, implying your account could overdraw. Likewise, you will not be compensated if the broker goes bankrupt since illicit brokers do not contribute to the compensation scheme. Also, you have no legal option if a dispute occurs. This is because the broker is not answerable to any agency, and offshore brokers are immune from international prosecutions.

Verdict

It pays to be vigilant in light of the rising number of online scam events. Verify a business broker’s regulatory status before working with them. Additionally, check their website carefully for any indications of dubious practices or conditions, and see if the broker offers a trustworthy trading platform. Jetbitx does not meet any of those conditions and is thus a scam.

If you want to invest in this space, go for legitimate forex brokers. Besides not gambling with your funds’ safety, these brokers have reasonable terms. This is an excellent place to start in your journey toward successful investment.

 

 

 

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