Beware! JKV 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.
JKV is allegedly a global forex broker founded by experts to offer world-class trading conditions, cutting-edge technology and trading infrastructure. They also claim to provide favourable trading conditions, dedicated customer support and convenient payment options, something we cannot actually confirm. JKV certainly pretends to be a top player, but that’s not actually the case. In truth, it’s a shady offshore broker with no license, so we cannot recommend it to anyone. In the following review, you will find all the details you need to know about JKV.
JKV Regulation and safety of funds
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
JKV is not regulated, so your funds won’t be safe if you deposit with it. The broker is presented as a brand of JKV Global Markets LTD – a totally anonymous company that’s said to have offices in Mauritius and Dubai. Finding information about this business is utterly impossible, so it’s either an offshore shell company or a fictitious entity. Whatever the case, the brokerage is not licensed, so suppose you trust it and deposit money with it, you may eventually find yourself in trouble. Trading with offshore brokers like JKV is a dangerous activity, so we recommend to find adequately regulated FX companies instead.
Choosing your broker may very well depend on where you are located. For British traders, it’s always best to go for a broker licensed by the Financial Conduct Authority (FCA). In the EU, the majority of companies are regulated by CySEC in Cyprus; for Australians, you’d better look for ASIC brokers; in the US, it’s best to stick to CFTC/NFA brokers. And if you live somewhere else, where, for example, the local Forex regulations are not mandatory, it’s still recommended to trade with FX providers regulated by respectable authorities. They provide segregated accounts, negative balance protection and, depending on the country, deposit insurance funds may be available. For example, clients of CySEC brokers can claim up to €20 000, while in the UK, the coverage is up to £85 000 per person.
JKV Trading software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|MT4||30+ indicators||✅||✅||Android and iOS|
|MT5||50+ indicators||✅||✅||Android and iOS|
|cTrader||40+ indicators||✅||✅||Android and iOS|
JKV has excellent trading software, that’s out of the question. They can provide MetaTrader 5, which alongside MetaTrader 4, is an industry-leading platform that more or less has become a synonym for Forex. That said, we’d like to remind you that JKV is a shady offshore creature with unknown origin, so whatever the software, it’s still not recommended to trade with this brokerage.
Speaking of MetaTrader 4 and MetaTrader 5, both platforms are considered the best options for retail Forex. MT5 is the newest and is considered the better version, but even if you trade with MT4, you’ll still have access to automated trading, custom indicators and plenty of analytical tools.
JKV Trading instruments
JKV offers the following instruments: Forex Metals CFDs and Crypto. A standard selection of asset classes that any other adequately regulated broker will offer anyway. That said, you have one more argument to think about whether to risk your money with JKV or choose a much better alternative.
JKV Spreads and cost of trading
|Spread EURUSD||1.7 pips||1.7||1||1.1|
|Spread GBPUSD||2.0 pips||1.3||1.2||1.4|
|Spread USDJPY||2.0 pips||1.3||1.2||1.4|
The cost of trading is certainly not the best, so JKV’s claim to provide world-class trading conditions is just a falsehood. In fact, the spread is 1.7 pips for EUR/USD, not too bad but also not so world-class, after all. Other regulated brokers will offer the same or lower spreads, so once again, we don’t see why anyone would trade with JKV.
JKV Maximum leverage
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
The maximum, and at the same time, the minimum leverage is 200:1 across all asset classes. You are stuck with this ratio, which is a major downside, as you cannot manage the trading risks – a red flag to note. Not to mention that 200:1 has already been prohibited by many regulators, meaning that JKV’s trading service is practically illegal in way too many countries.
JKV Deposit and withdrawal methods
|Deposit time||Withdrawal time||Price|
|Credit card||Instant||24 hours||Free|
|Skrill||1 Hour||24 hours||2%|
|Crypto||24 hours||24 hours||Fee depends on crypto|
The reported funding methods are Credit/Debit cards, Skrill and Crypto, but we cannot verify any of these. The problem is that the sign-up page was broken at the time, so we didn’t have access to the Dashboard. That being the case, it was impossible to test the deposit system – another red flag.
JKV Minimum deposit
Here, we’ll discuss more lies. On one of its website pages, JKV stated that it has the lowest deposit requirements, which turns out to be a deception. In truth, the minimum is $1000; many times higher than the industry standards. The deposit requirements are very high compared to other brokers, so yet again, there is an argument to stay away from this otherwise suspected scam.
JKV Withdrawal requirements
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|JKV / offshore brokers||500x||15%||$300|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|
There is absolutely no information about withdrawals, whatsoever. In fact, JKV does not even have legal documents on display, which is yet another major scam sign. Trustworthy brokers always present the legal documentation, so that customers can become aware of different trading conditions and policies. On the other end, scam brokers rarely provide anything, and if they do, the legal documents are usually stuffed with malicious clauses. What we suspect, though, is that JKV may introduce dreamed-up requirements to delay or outright reject withdrawal requests – after all, it’s an offshore broker and a suspected scam.
But also, it would be another undisputed scam sign if the broker asks for additional deposits to let you claim your money back. Scammers always do it.