CJC Markets Review – Is it Worth Trading With Them?

CJC Markets is a Foreign exchange broker company that was established back in 2012. With 22 branches, they serve customers in more than 16 countries. CJC Markets claim to have three types of authorizations including the License issued by FINTRAC, Australia Security and Investment Commission (ASIC), and Saint Vincent and the grenadines (SVG). However, a lot of licenses do not always mean that there is a full guarantee that the company is not engaged in any type of scam. CJC Markets Forex broker is an excellent example of a broker that is licensed but unreliable at the same time.

We are not fully sure that this brokerage is legitimate, and our concerns stem from the idea that some financial information, such as payment methods, deposits, withdrawals, as well as commissions, is absent from the website. Reputable and self-respecting broker companies would never overlook the need of publishing such critical information on their website. As a result, if you chose to join this brokerage, we urge you to proceed with care.

In this CJC Markets Review, we are going to further talk about how legitimate is the broker company. On top of that, we are going to discuss what are the major trading features that are available on CJC Markets, and overall, we will say if it is worth trading with them at all or not. So let’s get started to find out more essential information about this foreign exchange broker firm.

How Legitimate is CJC Markets FX broker?

As we have already mentioned, CJC Markets have three types of authorizations including the License issued by FINTRAC, the Australia Security and Investment Commission (ASIC), and Saint Vincent and the grenadines (SVG). From the first glance, a lot of beginner traders might believe that three licenses already means that they have no reason to be doubtful about this FX broker, however, this is not the case. On many occasions, the Forex frauds are exactly those companies who claim to have a lot of authorizations while in fact, their only aim is to steal the money from clients. Generally, the bigger the number of authorizations, the higher the chance that the FX broker hides some illegal information. So we recommend every trader, especially the newcomers, to be very cautious about this issue and not to trust blindly the CJC Markets Scam.

On top of that, another noticeable thing is that if you are wondering how secure it is for your money to deal with Australian foreign exchange brokers, we can inform you that they should be well-capitalized and deposit a startup investment of one million AUD. Furthermore, they should keep customer money separate, which CJC Markets claims to do in the FAQ section.

On the other hand, there are no compensation funds or systems in Australia where consumers will be able to be compensated if the brokerage goes bankrupt. This is one of the most essential drawbacks of CJC Markets Forex broker. Furthermore, thus far, Australian brokers are unable to provide you with negative balance protection, despite the fact that brokers can give you limitless leverage. All this information already talks a lot about how unreliable the broker company is. There is a huge chance that the money you invest in their trading accounts will not be protected or even be lost. So think twice before you make a final decision and choose to trade with this illegitimate foreign exchange broker company.

Trading features Available on CJC Markets

Trading features are an essential component of every brokerage company. The most essential instruments in a broker’s inventory of services are leverage as well as trading software. We will go through many of the features and even offer our visitors an inside look at the organization and why certain features are included on the site.

CJC Markets Trading software

CJC Markets is a currency broker that trades currencies, indices, equities, as well as commodities. The MetaTrader 4 platform serves as that of the trading platform that they provide their clients with. MetaTrader 4 is well-known for its charting capabilities, which include several charts, time periods, colors, and the ability to create personalized templates. The number of charts presented may change depending on the trader’s requirements. The MT4 App offers powerful forex trading software, quick one-tap executions, trading from several screens, and customized views of real effective exchange rate data.

Account types

There are three types of trading account types available on the CJC Markets Brokerage website including Standard Account, VIP Account, and ECN Account. On the standard account, there are Fixed 1.5 Pips spreads and a $1000 minimum deposit which is quite high. They claim this trading account to be for beginner traders while having a $1000 minimum deposit which is unreal. They clearly want the newcomers to be tricked by this offer and lose a big amount of money so that they can take advantage of this.

The minimum deposit on the VIP account is $25000 with 1 Pips spreads. This is also an extremely high number which requires the trader to be well-funded as well as highly skilled in terms of FX trading. otherwise, there is a great chance that they will lose all the initial capital while placing big trades on the financial markets.

Leverage

If you go over the trading options on the firm’s site, you’ll find that the leverage provided by this broker is rather substantial. The leverage for foreign currencies, for example, is 1:400. High leverage may mean two things: a huge gain or a big loss, and given that 70% of investors incur a financial loss in trades, the latter is more probable. This is why trading with this company is hazardous and may result in a substantial loss eventually. Generally, Unlimited leverage poses concerns to the safety of customers’ assets since it magnifies the financial damage in the event of a failed transaction. So the higher the leverage ratio the higher the chance that the investor will lose a big amount of money in case of a failure. This is why every trader should be alerted about this issue and do not trust CJC Markets Forex broker.

CJC Markets Withdrawal methods and Commissions

Regrettably, this brokerage firm’s website lacks information regarding minimum initial deposits, payment options for deposits and withdrawals, as well as charges. This is quite frustrating because, in most cases, regulated brokers would make such information public and easily accessible on their website, allowing traders to investigate it before deciding to create a trading account with the brokerage. We are skeptical of this broker’s dependability as a result of such information luck.

However, we read the customer reviews about this broker company and they claim that their spread is very wide, and if you use an ECN trading account, which should have a lower spread, they will conceal and charge exorbitant fees. This is one of the reasons why a lot of clients do not trust CJC Markets Fraud and say that they are scammers.

Customer Support

One of the greatest drawbacks of this foreign exchange broker company is its uncomfortable customer support system. A lot of customers write very bad reviews about this issue saying that there is no customer service, and there is no interaction between customers/investors and the firm. You will not receive a response if you write an email to their so-called customer support.

This is one of the greatest reasons why you should keep away from this FX broker company. There is a huge chance they are just a scam and do not care at all about any of the customers’ concerns and problems. So trading with the  CJC Markets scam is totally not worth your time as well as money.

CJC Markets – Final Verdict

As we have already noted above, CJC Markets is a currency exchange broker that was founded in 2012 and claims to have numerous licenses. Nevertheless, a large number of licenses does not always imply that the firm is not involved in any sort of fraud. CJC Markets Brokerage firm is an outstanding example of a certified broker who is also untrustworthy.

Regardless of the fact that brokers can supply you with infinite leverage, this firm will not provide you with negative balance protection. All of this information already indicates how untrustworthy the broker firm is. There is a high risk that the money you put into their trading accounts will not be safeguarded or possibly lost.

The CJC Markets Brokerage website offers three types of trading accounts: Standard Account, VIP Account, and ECN Account. Fixed 1.5 pips spread and a $1000 minimum deposit applies to this type of account which is considered to be a high amount, especially for beginner traders.

This broker firm’s website is deficient in terms of minimum starting deposits, payment choices for deposits and withdrawals, and costs. This is particularly aggravating because, in most circumstances, registered brokers would make such information public and easily available on their websites. On top of that, CJC Markets have very poor customer service. A lot of people say that there is no communication between the company and its customers/investors. If you send an email to their poor customer service, you will not receive an answer.