Info JM Financial

[Potakka]

Foylecapital recommends use of JM Financial as Broker for account managed by them.

Does anyone have experience of using JM Financial?

Links are:

foylecapital.com

jmfinancialservices.in

 

[Potakka]

Broker should be jmfinancialkw.com

 

[FxMaster]

Never heard from them so far BUT they are regulated by the Ministry of Commerce in the State of Kuwait with the register no.355893. So one try is worth. Make sure you can try them with small deposit first and check the withdrawal process with them before you may go with big amount.

Some other details as below.
Name

Registration Private​

Organization
Domains By Proxy, LLC​

Address
DomainsByProxy.com​

Address
14455 N. Hayden Road​

City
Scottsdale​

State / Province
Arizona​

Postal Code
85260​

Country
US​

Phone
+1.4806242599​

Fax
+1.4806242598​

Email

 

[Pharaoh]

Before putting money in, check with the Kuwaiti Ministry of Commerce. Make certain the license is valid and what activities it covers.

Also notice that the domain was only created on 2016-08-08. JM Financial has a very short history, at least under the jmfinancialkw.com domain name.

 

[Potakka]

On jmfinancialkw.com:

I checked Company id from Kuwait Chamber of commerce pages and also called there. At least company exists.
Company CEO sent me commercial registry entry copy and trade license.
On commercial registry entry there was mentioned CFD trading and providing financial brokerage services.

So JM would be broker for foylecapital.com managed forex account for me.

CEO also talked to me over phone for about an hour about his background and company's situation.

Haven't really found or felt nothing wrong at this time. Also moved a little amount of money to Account I made for JM. Then my intention was also test how withdrawals work before deciding on moving on.

 

[Pharaoh]

Contact the Kuwait Chamber of Commerce and ask them exactly what financial activities JM is permitted to engage in. That way you'll be sure if all their papers are in order or not.

 

[EURUSD]

Just curious whether broker from kuwait is has reputation or not, still not yet familiar with broker from kuwait, I am alone never using JM Financial and just now reading name

 

[Potakka]

I have had a small trading account for testing with them. Everything on platform (MT4) works seamlessly and fast.
Spreads are very tight and commissions and swaps clearly indicated on positions.
Also withdrawals and money transfers work fine.
There is also not any bull**** bonuses or some nonexistent money offerings by the company on account opening.
I will post later how things develop. So far everything works excellent.

Communicating with them is easy. You get answers to questions fast and accurate.

I have also funded managed account (Managed by Foyle Capital) on them.
Trading on account starts early next week or latest on start of april 17.

Now there is nothing to complain but for result goals on managed account are on longer term so time will tell.

What my gut says risks with them are only in trading not on actors as manytimes unfortunately is the case.

Trial by fire is really only way to find out. You never know everything before hand when investing, otherwise all would thrive and succeed in it. I will keep you posted.

 

[Froso@FXNET]

@Potakka
How much is the profit percentage they are giving on the managed accounts and what are the withdrawal terms if we want to do it partially. I hope there is no locking period on our investments in managed accounts.

 

[Potakka]

Foyle Capital profit has been about 7% per month on yearly basis for 2 years. Although you never know what is future profit. Time will tell. Their commission is 25% from monthly profit.
Funds are on JMFinancialKW, There is no lockout period. You can take your money out when you want. But there is 10k$ minimum deposit to have managed account.