CJC Markets Review: Find Out About This Fraudulent Broker
CJC Markets is a broker that is claiming they are based in New Zealand. Although they are claiming to be licensed by the local financial authorities, the broker is not transparent about its services and pricing.
Upon checking all the registers, we actually found a warning in New Zealand about them. So, truth to be told, they are nothing more than just another investment scam.
Our detailed CJC Markets broker review will cover everything you need about the brand.
|Broker Status:||Unregulated broker|
|Blacklisted as a Scam by:||OSC, FMA|
|Broker Owner:||CJC Markets PTY Ltd|
|Headquarters Country:||New Zealand (allegedly)|
|Online Trading Platforms:||MT4|
|Crypto Asset Trading:||Yes|
|CFD Trading Option:||Yes|
|Available Trading Instruments:||Forex, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
CJC Markets Funds Safety and Regulation
CJC Markets is claimed to be owned by CJC Markets Pty Ltd, registered in New Zealand, and covered by Canadian FINTRAC, Australian ASIC, and licensed in Saint Vincent and the Grenadines. We started checking these facts one by one.
First things first, FINTRAC is a financial regulatory body that oversees the Canadian market and regulates the firms licensed under them for anti money laundering. It’s important to mention that they are not overlooking the Forex and CFD trading that CJC Markets is offering. On top of that, another major red flag that we have found is that CJC Markets has provided a MSB number that belongs to the CJC Markets Co., Limited, whose registration expired.
Because of that, we have also searched the ASIC register to see if there is any mention of the CJC Markets. It’s safe to say that we haven’t found any firms under the number the broker has provided on its website. However, we did manage to find CJC Markets Group Pty Ltd, but the firm changed its name in 2021.
Overall we did manage to dig out that the CJC Markets CoLimited is in the SVG register. But unfortunately we cannot confirm the connection because the name differs from the CJC Markets website. Nonetheless, even if related, the fact doesn’t matter much as the FSA of SVG doesn’t issue Forex and CFD licenses. All in all, CJC Markets is an offshore unregulated broker.
CJC Markets Trading Platform
While we were reviewing the CJC Markets’ trading platform it came to no surprise that the broker tried to appear legitimate. Since MetaTrader4 is an industry standard platform by now, the company offered access to it.
MetaTrader 4, as we have mentioned, is an industry standard and because of that you can expect to see a vast number of charts, indicators, and other tools. On top of that, there are a lot of things you can do such as participate in social trading and copy the strategies of other investors. But in case that you prefer to automate the process, you can use various trading bots.
CJC Markets Account Types Available
CJC Markets only offers three different types of accounts, and those include the following ones:
As you can see throughout this review, there is no minimum deposit specified anywhere, which is yet another indicator of the broker’s illegal status. All legitimate brokers are obligated to be fully transparent with their investors and are also obligated to put the minimum required deposit.
Another thing that we have found suspicious is that this fraudulent broker didn’t even offer a Demo account. This means that they will push you to open a real account and swindle you of your money.
Withdrawal and Deposit at CJC Markets
CJC Markets is an anonymous broker and it’s so easy to see that their only goal is to manipulate and take your money. We say this again, because their website is missing Withdrawal Policy. All legitimate brokers will be precise about your payment methods and fees so there are no misunderstandings and no surprises down the road.
The company listed the following payment options on its website:
- Visa or Master credit or debit card
- Wire transfers
Truth to be told, this is a good variety of deposit methods but unfortunately, after we tried to activate the account, the only option we were given was crypto. This option is mainly used by scammers as these transactions are not subject to a chargeback procedure and are hard to reverse.
Unauthorized Brokerage Scam Methods
Scam brokers aren’t that original when it comes to putting together the fraud.
It all starts with naive phone calls from various agents to see if you are open to investing and of course making quite a lot of money by doing so. Even if you say no, they will continue to push you until you agree or until they are certain you will not give them any money.
And of course, the all well known pitch, the more you invest the more you will make. Those against working for the company are trained to tell you sweet lies and fairytales just to get you to invest and then they will strip you off all of your money.
In case you have been scammed by this or any other broker claiming to provide the legit services, getting your money back is possible! There is no need to feel ashamed since this can happen to anyone. We would also be grateful if you can share with us your experience since we can assist you in reporting your scammer to the authorities.
CJC Markets Summary
We conducted this CJC Markets review to shine a light on many shady tactics scam companies use to trick new and less experienced borrowers. They allegedly give their clients an opportunity to invest in forex, commodities and CFDs. But in reality, what they are doing is stealing your money and creating the false picture of it being traded on their cheaply made WebTrader.
Not only this, but they also claim to be a regulated company when in reality, they are just a clone firm of the regulated forex broker.
We advise you to always think twice before taking any risks while investing money and keep in mind that this scam will try to convince you to invest as much as possible, while legit brokers will ask for as little as $5 as an initial deposit.
Don’t forget to always do proper research as a necessary step especially if you are new to trading. Many phony brokers appear overnight so you need to be cautious.
FAQs About CJC Markets Broker
How Trustworthy is CJC Markets Broker?
CJC Markets is a clone firm of a legitimate broker, so they are not trustworthy at all.
Is CJC Markets a Legitimate Company?
No, CJC Markets has no actual license issued to them as they are just a lousy scam of a legit broker.
Are There Any Hidden Fees for Withdrawals at CJC Markets?
It’s likely that this scam broker will prevent you from withdrawing your money altogether so it’s best to stay away.