Score
Jojo Markets
United Kingdom|5-10 years| http://www.jojoforex.com/
Website
Rating Index
Contact
Licenses
Single Core
1G
40G
1M*ADSL
- This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
Basic information
United Kingdom
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Website
jojoforex.cn
Server Location
Hong Kong
Website Domain Name
jojoforex.cn
Website
WHOIS.CNNIC.CN
Company
阿里云计算有限公司（万网）
Domain Effective Date
2016-10-19
Server IP
62.60.171.24
-
jojoforex.com
Server Location
Hong Kong
Website Domain Name
jojoforex.com
ICP registration
苏ICP备17046402号-1
Website
WHOIS.GODADDY.COM
Company
GODADDY.COM, LLC
Domain Effective Date
0001-01-01
Server IP
65.52.189.156
Company Summary
Note: Jojo Markets' official site - http://www.jojoforex.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
⚠️ Attention: This is a scam broker!
| Jojo Markets Review Summary | |
| Founded | 5-10 years |
| Registered Country/Region | United Kingdom |
| Regulation | FSPR (Suspicious Clone) |
| Market Instruments | Unavailable |
| Trading Platforms | Unavailable |
| Customer Support | Phone: 4006660205; Email: cs@jojofx.com |
| Official Website | Unavailable |
What is Jojo Markets？
Jojo Markets is a trading platform reportedly founded about 5-10 years ago and claims to be registered in the United Kingdom. However, red flags surrounding the broker are numerous and significant. To start, it claims to be regulated by the New Zealand FSPR, but these claims are suspect and are potentially a 'clone' at best - a scenario where a firm illegitimately claims the details of a legitimately registered or regulated firm.
The firm has been verified to be operating illegally, with all its licenses expired and it is listed in WikiFX's Scam Brokers list. Furthermore, the number of complaints amassed by WikiFX for Jojo Markets has reached 32 instances over the past three months alone.
Additionally, Jojo Markets has been identified as executing a Ponzi Scheme. These are fraudulent investing scams promising high returns with little risk to investors. Ponzi schemes generate returns for early investors by acquiring new investors. This scam actually yields the promised returns to earlier investors, as long as there are more new investors. These schemes usually collapse on themselves when new investments stop.
The operational mode of Jojo Markets poses substantial risks to potential investors, as it manipulates the investor's desire for financial gain, perpetuating a harmful and deceptive funding mode.
Pros & Cons
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Ponzi Scheme: The broker has been identified as a Ponzi Scheme, which is a significant red flag. Investors are advised to stay away from any entity suspected of engaging in such fraudulent behavior.
Regulation Status: The claimed New Zealand FSPR regulation is suspected to be a clone which indicates that it's operating without a legitimate license.
Security: The security of the platform is classified as very low. The safety of clients' funds can't be guaranteed, making this a highly insecure platform for traders.
Unavailability: The official website of Jojo Markets is not available. This unavailability limits access to crucial information and hinders the ability of users to learn more about the platform or its services.
High Complaint Rate: The myriad of complaints received about this broker in a brief 3-month period underscores the high risk involved in dealing with this platform.
Is Jojo Markets Safe or Scam？
Jojo Markets is not safe and is likely a scam. Here are some reasons:
Regulation Status: Jojo Markets claims to be regulated by the Financial Service Providers Register (FSPR) of New Zealand, yet these claims are suspect. It is suspected to be a clone firm, which is a significant red flag.
Confirmed Illegitimate Operations: Jojo Markets has been confirmed as operating illegally, with all its licenses expired. The firm is also listed in WikiFX's Scam Brokers list.
High Number of Complaints: WikiFX received 32 complaints about this broker in the past three months alone.
Inaccessible Official Website: The broker's official website is unavailable, a factor that limits access to crucial information and further compounds concerning its legitimacy.
Consequently, Jojo Markets should be considered an unsafe and likely scam platform. Potential investors are advised to conduct thorough research and due diligence before considering investment with any platform.
Trading Platforms
The trading platform provided by Jojo Markets is MetaTrader 4 (MT4), which is a highly popular platform in the Forex trading community. With its user-friendly interface coupled with a wide array of features, it offers a comprehensive solution for traders of all levels of expertise.
MT4 is known for its advanced technical analysis capabilities which help traders to track and predict market movements accurately. Another hallmark of MT4 is the availability of Expert Advisors (EA). EAs are software programs that can automate trading strategies, thereby reducing the manual work required by the traders and potentially increasing the efficiency of their trading process.
Moreover, mobile trading is a core part of the MT4 platform, allowing traders to access their accounts from anywhere and at any time. This level of flexibility can be very beneficial, especially for those who need to act swiftly on market changes.
Next, MT4 provides trading signals - these are suggestions or tips generated by the analysis of market conditions, which can assist traders in making decisions about entering or exiting trades.
Finally, the platform also integrates market news and updates, ensuring that traders are always informed about the latest happenings affecting the currency markets.
In summary, MetaTrader 4 empowers Jojo Markets' traders with robust analysis tools, automated trading options, mobile trading capabilities, access to trading signals, and real-time market news. However, please note that despite the capabilities of the MT4 platform, potential investors should proceed with caution given the red flags surrounding Jojo Markets.
Customer Service
The customer support of Jojo Markets appears to be quite limited with only two communication channels: phone and email. Clients can reach out to Jojo Markets customer support by dialing +4006660205. In addition, Jojo Markets has an email support address (cs@jojofx.com), which customers can use to send inquiries, and requests, or to articulate any issues they may be experiencing.
However, having only two contact methods can mean limited accessibility to support when needed. Furthermore, the quality and efficiency of their customer service remain unspecified. It's common for financial platforms to offer a more diversified means of customer communication such as live chat features, 24/7 service, or an extensive FAQ section to solve common issues instantly.
Exposures on WikiFX
On our website, you can see that reports of scams and severe slippage. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section. We would appreciate it and our team of experts will do everything possible to solve the problem for you.
Conclusion
Based on the information gathered, Jojo Markets is a trading platform that aspiring traders should be wary of. Red flags surrounding the company include suspicion of being a clone firm, conducting illegal operations, engaging in a Ponzi scheme, lack of customer service, an inaccessible official website, and potentially high and non-transparent commissions. Investors are urged to conduct their due diligence before interacting with such a platform.
Frequently Asked Questions (FAQs)
Question: Does Jojo Markets provide transparent information about its commissions？
Answer: Unfortunately, Jojo Markets does not provide transparent information regarding its commission structure.
Question: What are some red flags associated with Jojo Markets？
Answer: Some significant red flags associated with Jojo Markets include allegations of being a clone firm, confirmed illegal operations, numerous complaints, a non-transparent commission structure, execution of a Ponzi scheme, and an extremely low security rating.
Question: Can Jojo Markets be considered a safe trading platform？
Answer: No, based on the information available and the various red flags raised, Jojo Markets can not be considered a safe trading platform. It's imperative for potential investors to conduct thorough research and due diligence before interacting with such platforms.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
Keywords
- Scam Brokers
- 5-10 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- United Kingdom Appointed Representative(AR) Revoked
- Suspicious Overrun
- High potential risk
Review 35
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Review 35
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FX1190102082
Argentina
I deposited 340 but was unable to log in.
Exposure
2021-09-23
财神盈门
Hong Kong
Can't open the web. Unable to contact their customer service via phone or online chat. But you can trade noemally without withdrawal
Exposure
2021-02-21
+86 186 8195
Hong Kong
Don’t trade on it. It banned my account.
Exposure
2020-07-03
JIE83971
Hong Kong
After being ripped off in Jojo Markets 2 years later, I even couldn’t cancel my account. It is a simply scam platform.
Exposure
2020-02-26
清风月影45102
Malaysia
Don’t believe this scam platform, in which the fund is unable to withdraw.
Exposure
2019-12-13
FX2434114503
Hong Kong
There were $5 in my account.After closing position,it became negative!!! It’s a rip-off.
Exposure
2019-10-25
FX2434114503
Hong Kong
Even there was a previous payment,the position couldn’t be closed.Garbage platform with triple margin and severe slippage on gold!!!
Exposure
2019-10-25
FX2434114503
Hong Kong
Look at the screenshots!The website is disabled!!!
Exposure
2019-10-25
果壳里的虫子
Hong Kong
The team of Wang Ji,whose Weibo are full of profit orders.Actually,it is a scalping team which induces you to place reverse orders and conduct scalping trade with bad intentions.I placed 75 lots and made a loss of nearly 5000 RMB,which was inconsistent with their promotion on Weibo.Scum team.Scalping team.Simply a fraud platform!
Exposure
2019-10-09
HACHlKO
Hong Kong
I applied for the withdrawal in Jojo Market on September 16th,while the money hasn’t been processed until 17th yet.When I called to the customer service,they kept telling me to wait,same as the online customer service,which has been lasted for 24 hours.They said that they had applied for the remittance for me and ensured that my fund wouldn’t disappear since they haven’t the right to do so.But why my fund still hasn’t been processed? I called to them this morning and they ensured me that the fund would arrive the day.Otherwise,I will call to them next day again.I kept all the voice records,hoping WikiFX take back the fund for me.
Exposure
2019-09-17
FX1490860758
Hong Kong
They have been procrastinating, saying that there are many people withdrawing on Monday. Also, they said they have to go through international remittances and the funds need to be audited and manually handled by professional financial departments. I called customer service 400-666-0205, and they have repeated this sentence. I asked them to give proof of the queuing remittance, but they said that the customer service could not give any proof. Starting from an hour to the current 24 hours, they keep me waiting, saying that it is already under review and now ready to get paid. My fellow agents and customers, we must boycott such a platform, and fully explain the posts and the process of the matter to other customers who have not been deceived for now. Let Jojo Markets disappear from now on! Even if they launch a new platform, we must notify everyone. Also, they have now opened a platform called Meili, and Shengen also belongs to them. We must not invest in those platforms. This is the website of the platform https://www.jojoex.com/#/, be alert! If you want to be an agent or invest in a certain platform, please ask the salesman and order instructors for their exact locations. Without real address, do not invest even a penny. The transaction receiver of the platform is called Wang Weizhi.
Exposure
2019-09-17
相守.不易
Hong Kong
The agent of Jojo Markets through Weibo and Wechat,saying that one-to-one service is accessible with $2000.His name is Zhijun Peng whose agent number is 511548.I deposited on 17th,July and operated 10 lots on gold.Because of reverse order recommendation and the revocation of stopping loss,my account became forced liquidation.
Exposure
2019-09-03
薇+二叭唔叭霖思一6二叭
Hong Kong
I was cheated by Jojo Markets.Once I knew a net-pal through Wechat and talked about daily lives,which was nothing special.Occasionally,he talked to me about earning money by forex investment,which I think not an occasion but premeditated trap.After talking for some time,I decided to have a try.Then he recommended the Jojo Markets platform.At first,the teacher guided me to place orders through net,phone and Wechat and told me to place reverse orders frequently,even for several of dozens of lots. I deposited total $10,000 into my account,which became forced liquidation within two days and left nothing.It was then that I began to sort out my thoughts, and gradually understood what had happened and realized that I had been cheated.With no access to previous information,I printed the following screenshot when I call the police.Now my log-into-account records is blank.
Exposure
2019-08-27
相守.不易
Hong Kong
JoJo Markets has an agent named Peng Zhijun, whose agent account is 511548. His Weibo and Wechat name used to be “Hermit”, now changed to “Forex Decision Maker”. He is a relentless order recommender, using just one order to claim all your money. My fellow forex-friends, please do not believe him. On July 17, 2019, I deposited 20,000 USD.Under his one-to-one guidance, I placed two limit orders. Though the direction was right, the price he set was unable to access. After the cancelation of limit orders, he informed me to sell 10 lots of gold at 11 o’clock that night. However, at that night there was so-called nonfarm payrolls statistic on the internet, and the forex instructors on Weibo all bullish gold. But Peng told us to sell out, that we would have closed position before the statistics come out. Just after our selling, the price went above the candlestick and immediately reached the stop-loss price. Then he told us to cancel the price set. I questioned his motivation of making our accounts become forced liquidation. He just said, “Who knows it could rise 30 points?”. As a technical analyzer, how could he didn’t know that? The answer is obvious. He is one of those phishers on the Weibo or Wechat platform who makes you lose everything using just one order. Please do not bite his bait. I have posted out the website and the agent account.
Exposure
2019-08-27
相守.不易
Hong Kong
His names of Weibo and WeChat were Yinzhe, but now he changed them into forex decision-makers. Investors should not be cheated. he is a agent of Jojo Markets, with agent account 511548. When he incited me to deposited, he gave me reverse order recommendations. Canceling stop-loss caused a forced liquidation...
Exposure
2019-08-16
相守.不易
Hong Kong
Jojo Markets’ agent number 511548 posted real-time order on Weibo, saying that the lowest deposit is 20000 USD and every client can enjoy one-to-one instruction. At the first day of my deposit, they made an order contrary to the market trend and canceled my stop loss order which led to my account liquidated. I called the service to complain, but they blocked me. Do not invest in this scam platform Jojo Markets. I posted the promotion links of the agent. Do not deposit. All they do is fraud.
Exposure
2019-08-14
相守.不易
Hong Kong
As I was incited by Jojo Markets' agent to deposit in the platform, I suffered great losses because of his reverse order recommendations. The customer service personnel blacklisted me when I made complaints. The agent's account number is 511548. Keep away from the fraud platform.
Exposure
2019-08-10
FX2434114503
Hong Kong
As the website doesn’t work, I have no access to log in, with “Help” only works. Withdrawal is unavailable. I was required to deposited in triple cash deposit!!! What a fraud!!!
Exposure
2019-08-06
相守.不易
Hong Kong
There are agents who do this kind of thing:they induce you to deposit with one by one instruction,which will never make you profit.With posting my agent account and link,I want to tell you newers to avoid being cheated.They ordered reverse recommendation to aviod stopping loss,which led to forced liquidaiton.I complained to the customer service,who blacklisted me directly.
Exposure
2019-08-05
相守.不易
Hong Kong
I deposited in Jojo Markets on 17 July,2019. The adviser gave reverse order recommendations and canceled stop loss, which made my account wiped out. Please keep away from forex trading, for there are frauds everywhere, whose reverse order recommendations led me a great loss...😂😂😂the adviser's agent account is 511548.
Exposure
2019-08-02