JITAK Review: Jitakcl.com Forex Broker Scam Shown

JITAK (Jitakcl.com) is a false broker claiming to be an internationally acclaimed trading platform. With a Chinese default language, JITAK is clearly targeting the Chinese investors in America and Europe. They claim to provide trading services to many traders across the globe. These are false claims as the platform was recently created according to domain details. JITAK is another brokerage firm offering empty claims and promises, traders better watch out. Read this genuine and honest JITAK Review for more details.

About JITAK

The platform claims to provide investors with high quality and perfect financial trading services. They claim to be all over the world with offices in Dubai, Hong Kong, United Kingdom, and United States. These are false claims meant to entice investors to trust the brokerage firm. In essence, these are scam brokers who are targeting the Chinese market. With the platform having a default Chinese language, they claim to have their main offices in Australia. According to their about us page, JITAK Group owns this platform.

JITAK is claiming to be headquartered in Australia which is false information. They claim to have an Australian regulation license which they quote as 511849248. These scam brokers are using random numbers to try and shut down any prying eyes. The company register in Australia has no entity named JITAK Group. And this is a clear indication we are dealing with an anonymous company. These scam brokers are using false registration numbers to sell their ridiculous trading platform.

Avoid such brokers and use expert recommended brokers. 

Assets Found

The broker claims to offer Energies, Forex, Indices, and Precious Metals. Energies listed include crude oil with a standard trading contract of 1,000 barrels/hand. The margin ratio is 0.5 percent with a minimum trading unit of 0.1 lots. They claim to offer high liquidity on their Forex assets with fair and transparent trading markets. The Indices include S&P 500, German Index, Hang Seng Index, and more. JITAK is using Straight Through Processing trading system as their core system.

Gold and Silver are the precious metals found on the trading platform. These rare metals come with hedging options with value preserving and value added options. Product names listed include XAUUSD and XAGUSD. Minimum trading lot is 0.1 with 1,000 being the maximum trading lot. Contract size is between 100 ounces to 5,000 ounces depending on the metal. Precious metal trading on their platform is 24 hours according to the broker. It is not a good enough reason to sign up with the platform.

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Business Owner

Anonymity still remains to be a huge challenge with the trading platform. JITAK Group is an anonymous website with no company register having records of it. Trading with anonymous online investment platforms has its risks. Recovering funds from such platforms is next to impossible. And this is why traders should stay away from this anonymous platform. There is no indication of a real person owning the platform or managing the Group.

Domain Details

According to the trusted domain register whois.net, Jitakcl.com was recently created. Records show the platform was created on 16^th September 2019. Scam brokers will claim to have years of trading experience just to buy some time. They want investors to buy the fact that the broker has a valid reputation. And this is why no one should sign up with this ridiculous trading platform. These are scam artists who have nothing else to do.

License and Registration of JITAK

ASIC is the official regulator in the region and they have no such broker on their list. Other regulatory bodies we contacted all share the same story. None of them has ever licensed the broker or their mother company. These regulators include CONSOB, CySEC, and NFA have never heard of the broker.

And this is proof JITAK is NOT Licensed or regulated to offer any trading services. These scam brokers are a bunch of scam brokers looking to score from unsuspecting investors. The platform having no license is clearly not following set industry rules. And this is another reason why everyone should stay away. The platform is out to hurt anyone who deposits funds. With an unlicensed entity, recovery of funds is next to impossible.

Limitations of JITAK

Account Types

The platform gives no indication of having an account type. With Standard account types listed, it means traders don’t know the acceptable minimum deposit. The industry has set $250 as the acceptable minimum deposit with each trading platform. Such information is not available on their trading platform. And this is another solid reason to stay away from such a platform. Victims were asked to deposit as much as $5,000 which is unheard of.

Customer Contact and Support

JITAK is not furnishing members with live chat support. And this is an indication of the problem ahead for members. With time, such platforms choose not to respond to any queries. A real trading platform will offer live chat support to help traders with questions. It is clear these scam brokers don’t want any contact with would be victims. They leave an email address which is far from being helpful. Once you send an email, expect no reply from these scam brokers. A reply is certain only when you inform them of your intentions to deposit funds.

Demo Account

Their demo account is far from being helpful to members. The demo account is not serviced with important features. Once you sign up with the demo account, a lot of information will be missing. The broker fails to offer traders a demo account from a trusted platform. And the results become a demo account which has no advanced tools. These brokers tried to copy the MT4 demo account with no success. The demo account is a horror show and suddenly becomes sluggish at times.

Deposit and Withdrawal

Another missing feature on the homepage is deposit and withdrawal features. These channels are important as they help show the security awareness of the broker. Today, none of the deposits made have found their way into member’s accounts. Withdrawing funds with the platform still remains to be the biggest hurdle.

Trading Platform

JITAK is claiming to use MT4 trading platform as their preferred terminal. These are false claims as the platform is actually using a custom built platform. Screenshots from members suggest the platform is a copy of the MT4 trading platform. And this is why members are experiencing slow execution speeds. The platform also lacks proper security features as it is not compatible with most devices. These are the reasons why no one should sign up with the platform.

Safety of funds with JITAK

With the above features, it is clear funds are far from being safe with this platform. Segregation of accounts is not taking place as dictated by trading regulations. Members have been depositing funds straight to owner’s bank account. And this is one reason why no one should sign up with the platform. The broker is taking funds straight to their own pockets.

Scam or Legit JITAK

The evidence is overwhelming; JITAK is a scam that must be stopped at once. With member crying foul, authorities will soon take action and shut down the platform. Mark their emails as spam and unsubscribe from their mail listings. Warn your family and friends from joining any of their affiliate programs.

Verdict

It is our duty to inform our readers about the dangers of online trading. And this is why we will add the broker to our scam blacklist.

Continue reading our reviews for more on online trading products and services. Stay safe and use top-rated brokers for successful trading experience.

We wish all investors and traders a happy trading experience.