Reported as a scam / unregulated
Why JM Financial is on the register
JM Financial claims to be operated by JM Financial Services Co., allegedly authorized by the Ministry of Commerce in the State of Kuwait, and run by Elinnovate Processing Ltd, supposedly registered in Cyprus. However, registration with the Ministry of Commerce in Kuwait alone does not constitute valid authorization to offer financial services. The Central Bank of Kuwait has explicitly stated that they do not supervise forex trading activities, meaning JM Financial is not operating in a regulated environment. Additionally, there are no indications that Elinnovate Processing Ltd is licensed by the Cyprus Securities and Exchange Commission (CySEC). In essence, JM Financial is not regulated by any governing body. Entrusting it with investors’ funds is highly risky, as there are no legal protections in place to safeguard the funds. JM Financial appears to be a scam.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you toward the right next step. We are a free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.