Is JMPcapitals Legit or a Scam?

Upon reviewing JMPcapitals’ website, it becomes immediately apparent that the broker is unregulated, which is a major red flag. This alone should deter anyone from investing with them. Additionally, the platform promotes «automated trading software,» a notorious tool often associated with scams.

JMPcapitals is an unregulated Forex broker, which means customers have no legal protection and are at risk of losing their funds with no regulatory authority to hold them accountable.

How the Scam Works

Unregulated brokers like JMPcapitals often employ various tactics to deceive people into making an initial deposit. They will offer deals that seem too good to be true, such as promising to double your deposit or guaranteeing easy daily profits. These are scam tactics, so do not fall for them! After you make your deposit, you will be handed over to a «retention agent,» who will try to convince you to deposit even more money. Be cautious of glowing reviews you might see online; these could be paid for by the company to create a false positive reputation.

Withdrawing Funds

You should request a withdrawal immediately if you have invested with JMPcapitals. However, this is where things become complicated. If you try to withdraw your funds, it’s likely they will delay the process for months. After a six-month delay, you will no longer be able to initiate a chargeback, and your money will be lost. Even if you try repeatedly to withdraw, you likely won’t get your money back.

Moreover, if you signed a Managed Account Agreement (MAA), you’ve essentially authorized the broker to do whatever they want with your account, including potentially losing all your funds.

How to Recover Your Money from JMPcapitals

If you’ve already deposited money with JMPcapitals and they refuse to return it, don’t worry — there may still be ways to recover your funds.

1. Keep all email correspondence with JMPcapitals as proof that you’ve requested your funds, but they have either delayed or refused to process your withdrawal.
2. Chargeback: If you paid with a credit card or bank transfer, the quickest way to get your money back is to perform a chargeback. Contact your bank or credit card provider and explain that you were misled into investing with an unregulated broker and they are refusing to refund you. A chargeback can hurt them badly as it will damage their relationship with payment processors. If you need help with the chargeback process, feel free to reach out to personalreviews1@gmail.com for assistance.
3. Wire Transfers: If you transferred funds via wire, chargebacks are not possible. In this case, you should consider escalating the matter. Inform them that you intend to file a complaint with regulatory authorities and pursue legal action. You can also contact the regulatory agencies in your country and explain the situation. If you need help drafting a complaint, contact personalreviews1@gmail.com, and we will guide you through the process.
4. Leave Reviews on Other Sites: Another way to protect others is by leaving reviews on different platforms. Share your experience and warn potential victims about JMPcapitals. If the company changes its website or contacts you from another platform, make sure to report it. You can also send us information about any phone calls or contact from related companies.

JMPcapitals Review Conclusion

Our review of JMPcapitals highlights the dangers of unregulated brokers. This company is a typical scam that preys on unsuspecting investors with false promises and deceptive tactics. Always thoroughly research any Forex broker before making transactions. If you’ve fallen victim to JMPcapitals, we hope the tips in this article help you recover your funds. Feel free to contact personalreviews1@gmail.com for assistance with the withdrawal process or if you need further advice.

When choosing a broker, ensure they are trustworthy and regulated to protect your investment.