JM Trade-The overview of minimum deposit, leverage, spreads

WikiFX | 2022-05-25 21:03

Abstract：JM Trade is allegedly a Kuwait-based CFD broker that provides its clients with the worlds most advanced trading platforms, up to 1:400 leverage, competitive spreads on over 300 tradable assets, as well as a choice of three different account types and 24×5 customer support services.

Registered Country	Kuwait
Regulation	No regulation
Minimum Deposit	$250
Maximum Leverage	1:400
Trading Platform	MT4 trading platform, Mobile APP
Demo Account	Available
Trading assets	Currencies, Indices, Commodities, Equity, Cryptocurrencies
Payment Methods	VISA, MasterCard and Bank Wire International
Customer support	24/5 customer support Telephone: +9652228600102Email: support@jmtrade.com

General Information

JM Trade is allegedly a Kuwait-based CFD broker that provides its clients with the worlds most advanced trading platforms, up to 1:400 leverage, competitive spreads on over 300 tradable assets, as well as a choice of three different account types and 24×5 customer support services.

Here is the screenshot of JM Trades official website:

Regulation

As for regulation, JM Trade disappoints us for it does not hold any license to support its operation. Here we can see that WikiFX has only given this broker a very low score of 1.43/10, which means it is not a reliable brokerto trade with.

Market Instruments

JM Trade advertises that it offers 300+ trading instruments, including CFD trading on forex, cryptocurrencies, commodity, indices and equity. Some other trading assets like stock and metals are also available.

Account Types

There are three trading accounts offered by JM Trade, namely Start, Gold and VIP. The minimum initial deposit to open a Start account is $250, while the other two accounts require much higher initial capital, $5,000 and $50,000 respectively.

Leverage

When it comes to trading leverage, the maximum level offered by JM Trade is much higher that most brokers, up to 1:400. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads

Spreads are influenced by what account types traders are holding. The Start account enjoy standard spreads, while the Gold account with reduced spreads and the VIP account with minimum spreads. To be more specific, from the information displayed on the internet, we also found that spread for EUR/USD pair was floating around 0.4 pips, yet we cannot confirm it unless login.

Bonus Offered

JM trade gives a welcome bonus on clients first deposit. This means that when you open an account, you are eligible to receive up to US $ 1,500 for Standard account, up to US $ 3,000 for Gold and US $ 10,000 for VIP Account. But this bonus compaign is time-limited, and there some details you need to notice：

Trading Platform Available

In terms of trading platforms available, JM Trade gives its clients three choices of trading accounts, namely JM Trade Web Terminal, JM Trade Mobile app, Web Trader.

JM Trade Web Terminal

Mobile App

Webtrader

Deposit & Withdrawal

JM Trade accepts deposit or withdrawal via VISA, MasterCard and Bank Wire International. The fees and processing time of deposit requests vary depending on payment methods. Deposit via VISA, MasterCard will be charged 3% fees instantly, deposit via Bank Wire International is no fees and requires 3 working days to process. While all withdrawal requests usually require 3 to 5 working days, but vary according to different account types. The Start account enjoy the withdrawal speed of standard priority, the Gold account with medium priority and the VIP account with the highest priority.

Customer Support

JM Trade customer support can be reached through telephone: +9652228600102, email: support@jmtrade.com. Besides, you can also follow this broker on some social media platforms like Twitter, Instagram, Facebook and LinkedIn.

Company address: Al Enmaa Tower, 15th Floor, Abdullah Al-Mubarak Street, Al-Mirqab, Kuwait City, Kuwait.

Pros & Cons

Pros	Cons
Bonus offered	No regulation
MT4 trading platform	No online chat supported
Generous leverage up to 1:400	High minimum deposit required
	Weak trading platform
	No 24/7 customer support

Frequently Asked Questions

Does JM Trade offer demo accounts？

Yes, demo accounts are available the JM Trade platform.

What trading instruments does JM Trade offer？

JM Trade offers a series of trading instruments, including forex, cryptocurrencies, commodity, indices and equity.

What trading platform does JM Trade offer？

JM Trade offers three choices of trading accounts, namely JM Trade Web Terminal, JM Trade Mobile app, Web Trader.

What is the maximum trading leverage offered by JM Trade？

The maximum trading leverage offered by JM Trade is up to 1:400.

Leverage Broker Currency Pair Dealer Forex trading Forex Broker forex pips

Related broker

No Regulation

JM Trade

Company name：JM Financial LLC

Score

2.22

Website：https://www.jmtrade.com/

5-10 years | Suspicious Regulatory License | MT4 Full License | Regional Brokers

Score

2.22

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