WikiFX, as an independent third-party information service platform, is dedicated to providing users with comprehensive and objective broker regulatory information services. WikiFX does not directly engage in any forex trading activities, nor does it offer any form of trading channel recommendations or investment advice. The ratings and evaluations of brokers by WikiFX are based on publicly available objective information and take into account the regulatory policy differences of various countries and regions. Broker ratings and evaluations are the core products of WikiFX, and we firmly oppose any commercial practices that may compromise their objectivity and fairness. We welcome supervision and suggestions from users worldwide. To report any concerns, please contact us: report@wikifx.com
您当前语言与浏览器默认语言不一致,是否切换?
切换
Global Broker Regulation & Inquiry App

Score

0123456789
.
0123456789
0123456789
/10
The WikiFX Score of this broker is reduced because of too many complaints!

Jojo Markets

United Kingdom|5-10 years|
Suspicious Regulatory License|United Kingdom Appointed Representative(AR) Revoked|Suspicious Overrun|High potential risk|

http://www.jojoforex.com/

Website

Rating Index

Contact

4006660205
cs@jojofx.com
http://www.jojoforex.com/
1 Portlant Street Manchester M1 3BE UNITED KINGDOM
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

Chinese (Simplified)

4006660205

Other ways of contact

Broker Information

More

Company Name

Jojo Market Limited

Abbreviation

Jojo Markets

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

This platform is a Ponzi Scheme. Please stay away! 7
Previous Detection : 2024-11-05
  • 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!
  • The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.
  • The number of the complaints received by WikiFX have reached 32 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • United KingdomFCA (license number: 784477) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!
  • The New ZealandFSPR regulation (license number: 511666) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Jojo Markets · WikiFX Survey
Danger A Visit to Jojo Market in UK - No Office Found
United Kingdom

Users who viewed Jojo Markets also viewed..

XM

9.05
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)
Official website

IC Markets Global

9.10
Score
15-20 yearsRegulated in AustraliaMarket Making(MM)
Official website

GTCFX

8.12
Score
10-15 yearsRegulated in United KingdomStraight Through Processing(STP)
Official website

CPT Markets

8.60
Score
10-15 yearsRegulated in United KingdomMarket Making(MM)
Official website

Jojo Markets · 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.

Jojo Markets' home page

Pros & Cons

Pros Cons
  • N/A
  • Ponzi Scheme
  • Suspicious Clone Regulation
  • Low-security Level
  • Unavailability of Website and Details
  • High Complaint Rate
  • 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.

Ponzi Scheme
  • 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.

suspicious clone FSPR license
  • 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.

Inaccessible Official Website

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.

Exposures on WikiFX

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.

Review 35

35 Comments
Write a comment
All(35) Latest Exposure(35)
Write a comment
TOP

Chrome

Chrome extension

Global Forex Broker Regulatory Inquiry

Browse the forex broker websites and identify the legit and fraud brokers accurately

Install Now

Select Country/Region
  • Hong Kong

  • Taiwan

    tw.wikifx.com

  • United States

    us.wikifx.com

  • South Korea

    kr.wikifx.com

  • United Kingdom

    uk.wikifx.com

  • Japan

    jp.wikifx.com

  • Indonesia

    id.wikifx.com

  • Vietnam

    vn.wikifx.com

  • Australia

    au.wikifx.com

  • Singapore

    sg.wikifx.com

  • Thailand

    th.wikifx.com

  • Cyprus

    cy.wikifx.com

  • Germany

    de.wikifx.com

  • Russia

    ru.wikifx.com

  • Philippines

    ph.wikifx.com

  • New Zealand

    nz.wikifx.com

  • Ukraine

    ua.wikifx.com

  • India

    in.wikifx.com

  • France

    fr.wikifx.com

  • Spain

    es.wikifx.com

  • Portugal

    pt.wikifx.com

  • Malaysia

    my.wikifx.com

  • Nigeria

    ng.wikifx.com

  • Cambodia

    kh.wikifx.com

  • Italy

    it.wikifx.com

  • South Africa

    za.wikifx.com

  • Turkey

    tr.wikifx.com

  • Netherlands

    nl.wikifx.com

  • United Arab Emirates

    ae.wikifx.com

  • Colombia

    co.wikifx.com

  • Argentina

    ar.wikifx.com

  • Belarus

    by.wikifx.com

  • Ecuador

    ec.wikifx.com

  • Egypt

    eg.wikifx.com

  • Kazakhstan

    kz.wikifx.com

  • Morocco

    ma.wikifx.com

  • Mexico

    mx.wikifx.com

  • Peru

    pe.wikifx.com

  • Pakistan

    pk.wikifx.com

  • Tunisia

    tn.wikifx.com

  • Venezuela

    ve.wikifx.com

United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com