High Risk
Reported as a scam / unregulated
SF-706385registry entry
Why JMTrade is on the register
JMTrade claims to be licensed and authorized by the Ministry of Commerce in the State of Kuwait. However, this authority does not regulate leveraged forex trading. Furthermore, JMTrade fails to disclose any authorization from a recognized financial regulatory body overseeing forex activities. The absence of legitimate, transparent regulatory oversight poses a significant fraud risk to investors. Therefore, JMTrade is highly likely 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.