Beware! Jalin Finance is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Jalin Finance is yet another probably Made in China broker, which is supposedly targeting mostly Asian clients. The default language is Chinese and most of the information they provide in English would be pretty incomprehensible for most Westerners. It’s a broker you should avoid and we’ll explain why in the full Jalin Finance review.
Jalin Finance REGULATION AND SAFETY OF FUNDS
Jalin Finance claims to be regulated in various jurisdictions worldwide including New Zealand, Australia, New Zealand, Germany and Netherlands, to name a few. At the same time, they fail to provide license numbers and even refuse to disclose their actual address. Nevertheless, we researched but found no licensed companies in any way associated with this broker, so it’s unregulated and a scam because of the fraudulent claims. Your funds will be in danger if you deposit with Jalin Finance.
However, there is a company named Jalin Finance registered in the UK, but it has no British license either. In fact, it’s an IBC that’s administered by seemingly a formation agent appointed by more than 2000 companies and a Chinese resident. The JALIN FINANCE SERVICE LIMITED’s registered address is Unit G25 Waterfront Studios, 1 Dock Road, London, United Kingdom, E16 1AH, which is indeed associated with some formidable criminals. Business Choice Partners Group Limited and Knight Service Group Limited are also legally registered there and run KSG Markets and BCP, both of which being repulsive scams. Well, we present circumstantial evidence only, but you’d better be aware of this information.
That said, we can offer the high-rated EU brokers and British brokers, which are regulated, trustworthy and most importantly, covered by deposit insurance funds. For example, if you trade with a CySEC broker, you can claim up to 20 000 EUR in compensation, while the British protections are of even up to 85 000 GBP per person. Make sure to stay away from unregulated companies, and it’s worth considering money protection when choosing a broker to trade with.
Jalin Finance TRADING SOFTWARE
Now, we’ll analyze Jalin Finance’s trading software and chiefly the spreads and leverage levels provided. Both are critical elements and generally reveal whether a broker is worthy or not. Spreads form part of the trading costs, while leverage carries high risks and can cause severe losses if traders are not careful enough. In fact, many authorities regulate it to restrict its usage and EU, British and Australian brokers have to limit clients to 1:30 for FX majors. In contrast, Canadian brokers and US brokers can’t provide more than 1:50. Most high-leverage FX companies are unregulated, so you need to be cautious.
Well, Jalin Finance claims to deliver MetaTrader4, but that’s falsehood and more evidence of a scam. There are two different platforms you can download, but none of those is functional. So, we can’t discuss real-time spreads and leverage levels. Nevertheless, the broker claims to offer a leverage of 1:888, a ratio that’s not allowed in the EU, which further proves the broker has no BaFin and AMF licenses.
As Jalin Finance is a scam, you’d better consider MetaTrader4 brokers and MetaTrader5 brokers which are delivering the best trading software. The MT platforms feature advanced tools such as Expert Advisors, complex indicators, and first-class charting tools. MetaTrader also comes with a Marketplace where traders can find more than 10 000 apps and third-party developed solutions.
Jalin Finance DEPOSIT/WITHDRAW METHODS AND FEES
The minimum deposit with Jalin Finance is $5 if you deposit directly via USDT, a cryptocurrency pegged to the US dollar at a 1:1 conversion rate. We need to note that direct crypto payments are not safe enough because the transactions are anonymous, final and it’s impossible to get a refund.
Speaking of funding, check some Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers, and Bitcoin brokers if you have trusted payment systems. The companies topping the lists are adequately regulated, and you won’t face scammers if you choose among the high-rated ones.
Overall, Jalin Finance is a scam scheme we exposed in this article, so make sure to stay away from this fraudulent business.
HOW DOES THE SCAM WORK
Today, the Internet is plagued by scammers and their deceitful deals. It all starts when you click on an appealing fraudulent offer and provide your e-mail and contact numbers. Scammers, as seasoned manipulators, would ring you at once, insisting that you should start investing as soon as possible. During the phone call, you’d be presented with bonuses, promotions, risk-free offers, Bitcoin opportunities, and anything else you could possibly imagine. Scammers would claim to work with reputable firms, banks, governments, and so on, trying to make their business appear legit. Those thieves lie big time and would promise you anything to gain your confidence and get a deposit from you.
However, the first deposit is just the beginning. Day by day, scammers would carry on asking for funds. If you lost, they’d persuade you to put more money and recover the losses. If you are profitable, you’d be asked to put more money and increase the gains. The headaches start as soon as you ask to take your money back. The scammers would do whatever it takes to discourage you and would even urge you to deposit again if you want to withdraw. The scammers’ mantra is “give me your money”, they’d push you to transfer more money over and over again for no obvious reason. Urgency is a treacherous sign, so if someone forces you to invest ASAP, that’s a scam.
WHAT TO DO WHEN SCAMMED
Unfortunately, no one is safe from scams. If you get defrauded, the first thing you need to do is to protect yourself from further risk. Deactivate your card immediately, contact your bank and ask for advice.
Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing, call the police if you feel necessary. Seek help actively!
Remember, it’s crucial not to rush blindly trying to recover your funds because fraudulent fund recovery agencies are trying to double scam the victims. They ask for upfront payment, take the money but won’t do anything to help you!
Last but not least, share online your experience; it’s important to inform the public about scams. Be responsible!