Read our Jpy500 review to see if we recommend this broker for trading. Just to clear doubts, this is a jpy500.com review.
Is Jpy500 Legit?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are infamous for scamming schemes.
So, Jpy500 is just another unregulated forex broker, which means the customers aren’t protected, and there is highly likely they will get away with your hard-earned money and there will be no regulating agency to hold them responsible.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How does the scam work?
Usually, unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit. And they will try any conceivable method in order to make that happen. They will offer deals that sound too good to be true. Like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, they transfer clients to a smarter scammer, called a “retention agent”, who will try to get more money out of you. Also, one thing we need to add here is: don’t trust the good Jpy500 reviews you might see online. They pay websites and services to improve their online reputation by posting good reviews about them.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It doesn’t matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back Jpy500?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all, you need to keep the emails as proof that you have been requesting the money back from them but they don’t give it to you. Or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how they deceived you into depositing money for a non-regulated trading company. Mention also that they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact [email protected] but don’t let your broker know they you read this article or that you are contacting us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on where you live, you can search google to find the regulatory agency for Forex brokers in your country. After that you can prepare a letter or an email describing how they deceived you. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you don’t know where to start, reach us at [email protected] and we’ll help you with this step as well.
Make sure you leave Jpy500 reviews in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites. See what other sites have posted reviews about Jpy500, and describe shortly what happened. If you fallen victim, please leave a review and a comment on this site at the comment section. Also, when these people change their website, they tend to call the old clients. So, if they call you from a new website, mention it in the comment or let us know about it. That would be really appreciated by us by our users. Also, if you get phone calls from other companies, please put the name of these companies also in the comment. Or you can send them to us and we will expose them too.
Jpy500 Review Conclusions
Making the Jpy500 review was our pleasure, and we hope to save as many people from losing their hard-earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Jpy500 review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade, please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
I have also been conned by Jpy500. A woman called Nicky Michaels convinced me to delist £250 and said she will link me up with a broker on whatsapp who will make sure I get a good return for my money. I asked if I am not happy will they return my money and she replied yes they would without any delays. The broker and this woman are frauds and crooks. He was asking way too many personal questions just as she did. This made me feel uncomfortable. I decided to not go with them the following day and sent both these fraudsters emails and messages. The so called broker said he will refund in a couple of days. A month down the line they have both disappeared and not a sign of any refund. I have reported them to the bank and the online scam authorities.
Hi Samia, my dad saw an ad on facebook for jpy500 and proceeded to join, before I found out he had already joined and paid the initial £250. He was pretty excited about it but I was sceptical. I then checked online for reviews, the first few searches seem to be positive until I scrolled further down where i found a few saying it was a scam, however there still aren’t many articles for me to make a judgement.
I asked my dad if he had any emails from them, he only had one which provided him with a username, otp and security code, i noticed security was spelt completely wrong ‘secerutiy’ which just proved my suspicions.
did you by any chance get the same sort of email?
he was talking to someone called Joseph Miller- apparently his account manager
I’m not sure what’s the best course of action, but Ive told him when they all back-say you have changed your mind and ask for your money back.
The same happened to me today. Same person Joseph Miller. I feel so stupid that I believed this scam. I have reported it to my Bank one hour after making the transfer. I think the original person who sent it to me had been hacked.
In March after aGraham Norton interview I deposited £250 and as the money appeared to go up I deposited up to £5000 .My bank blocked any access to my bank for 3 weeks they asked for the company registration which was Australian still the bank said was a scam but he had hoodwinked me I believed him. After 8.5 hours on the phone with the fraud bank department over 3 days and watching scam videos a police visit .I had my account opened. I am unable to get my money back as the bank absolved any responsibility as didn’t believe them.Then any transaction I made after that I was blocked and interviewed again. My other bank accounts in the banking group also blocked me.I was still convinced this was not a scam and Andrew Murray with a photo on WhatsApp obviously now I believe he may have stolen this person’s identity as I looked him up and his information looked sound. Initially I spoke to a Nicky M. They both seemed plausible. When I googled the given web site it said no such web site this made me suspicious so I rang Andrew and he asked me to look on the link on his WhatsApp text I’ve not heard anything since 6/6/23.Both their phones are now not working and I have asked for the return of my money and got no response. Luckily I am able to afford the loss of this money unlike a lot of people and although I did it for fun it was a scam. Since this spoils crypto investments companies who are genuine they are all now classed as scammers. I have now invested with capital wise who provided me with a registration number their trading platform allows me to make my own trades and up to now I am happy with them .