Justice Is On Its Way
If we look at the reports from FTC, it will detect that year by year, the amount of people losing money through scam cryptocurrency platforms is touching the sky. The fact is, when any marketplace is growing, it takes the attention of both investors and scammers as an opportunity to make money. In the case of a crypto marketplace, the capital is enormous, and it attracts both investors and scammers.
But we at OnlineJustice make sure to inform our customers about the scams going around the market and help them get their investments back by consulting, offering, and applying cybersecurity solutions.
To make money out of crypto assets, traders usually look for a broker they can trust to earn returns. But some very exceptional yet professional brokers in the marketplace are always on the hunt for traders who their tricks can fool. One of the highly sophisticated scam brokers is JETbitX. And we will tell you why you shouldn’t trust them with your hard-earned money.
Before we explore the reasons, traders need to know that you should never judge a book by its cover. Yes, JETbitX has maintained its website pretty well, adding multiple options that a trader looks for. For example, they claim to have SSL encryption to ensure the safe transfer of funds to their customers. They have also given access to traders of more than 1000 assets and guarantee high executions. Furthermore, the broker has also offered features like advanced interactive charts, Live quotes, risk management tools, market analysis, and back-testing. We can say that the owners have done their homework pretty well. But what they haven’t done is the delivery.
The initial checkpoint to see a broker’s legitimacy is their regulatory status. If a broker is not regulated, they will be answerable to no one in cases of fraudulent activities. When there is a regulatory authority, a governing body checks every move on the platform. Such checkpoint helps traders to know that their money is in safe hands.
But JETbitX is something else. It is an offshore company that states that its T&C is subject to the Republic of Estonia’s Laws. But when we did our research and went through the Estonian Financial Supervision Authority database, there was no broker matching. It means that JETbitX is an unregulated broker with no governing body to look after its practices. They can easily scam you with their tricky methods, such as offering bonuses and high or double returns.
The trading conditions of legitimate brokerage firms are always made with effort. They start their account types keeping the novice traders in mind and end them with keeping the professional traders in consideration.
But the prices are pretty high when you look at JETbitX trading conditions. For even a Base or novice account, you need to deposit at least 10,000$ to carry out the trading practices, which is unacceptable.
Also, the base account offersmber of other services such as w such as account Manager, Education center, pro webinars, etc. You usually get into a premium account. This is not what legitimate brokers do. So we will say we do not invest our money in JETbitX and do not even try to engage with such scammers.
In most legitimate brokers, the trading software is either MetaTrader4 or MetaTrader5. It is because such trading software is industry standard, and traders know them. Even honest brokers who offer their trading software are of exceptionally high standards. They make sure that everything related to the trade is visible to the trader so they can make good decisions. But when we look at JETbitX, the situation is very different.
The broker says they have excellent trading software, but their primary web-based platform is pretty basic. They have also not used the industry standard trading platforms such as MetaTrader4, and MetaTrader5 is yet another sign that you are dealing with a scam platform.
The broker does have a remarkable team to convince the traders to invest their money. The most common sentence they use is ‘we will double your returns of profits. They may even show that you have made a tremendous amount of money, and when you want to withdraw it, the broker will be up with their lame excuses for not being able to approve your withdrawal request.
If you were not aware of this fraudulent broker and got into the hand of them, there are specific steps you can take to get your money back out of them.
The first step to take is to file a chargeback. You must write a withdrawal request to prove that you have asked the broker to give back your money. When you perform such a move, the broker will get hurt as the number of cashback increases; there will be cracks in payment service provider relations with the broker. This step is only possible if you have used your credit or debit card.
If you have sent them a wire, you may not be able to file a charge, but there are still some ways to get your money. You can threaten the broker that you will let the authorities know what they are doing, and if they do not respond, send a detailed email to the regulating authorities in your country and tell them everything that happened.
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JETbitX is a professional scammer, but after reading this article, we expect you will not get into their hands. We hope this review helped identify why you cannot trust JETbitX as a legitimate broker.