Jalatama is our go-to limited broker example. We had trouble writing this rating because this firm is so small, which is irritating and telling about the broker’s legal situation. This platform fails to meet basic requirements and cannot be taken seriously. Read the review to see why this broker is a bad investment.
No registration. We got an error page during signup. Perhaps that section is broken or there is a hidden registration area for Jalatama-contacted users. Usually during solicitation.
Without an account, the website provided very little information.
The information is everywhere but never provides any genuine details. Jalatama only trades FX currency pairs and spot metals. Our information ends there.
Funds, regulation, and safety of Jalatam
The site indicates Jalatama is an Indonesian broker. The name is local to that region. The regulatory assertion and the site’s Indonesian presence follow. It claims CFTR licensing (BAPPEBTI). We checked the regulator’s databank of licensed firms and discovered no Jalatama. The site is solely in Indonesian since it scams Indonesian users.
One final point No legal documentation implies that users are on their own and unprotected. Clients are mercilessly drained here. As there are no legal restrictions, the broker can do whatever it wants.
This company is fraudulent and dangerous. Unregulated Jalatama! Avoid investing!
Losing that money to scammers would be terrible. Investing in an unlicensed broker is a waste of money for a criminal cause. No need. We advise readers to use European, UK, US, or Australian brokers, or any regulated company. Licensed entities must meet hundreds of requirements, including financial remuneration and anti-fraud measures. They oppose this broker and others like it.
Trading Software
We found a broker-owned MT4 trading platform with trading servers. The file was too suspicious to open. Installing such files often introduces viruses. Hence, we did not risk anything to visit this web trader. We never received account credentials; therefore, we couldn’t open it even if we wanted. We advise against opening it.
Deposit/withdraw methods
The website only mentions wire transfers as a method of payment. We have no further information. No minimum deposit bothers us. Scammer FX brokers rarely discuss withdrawal conditions or the rest.
Jalatama is a fraud. Any withdrawal requests will be denied and capital will be stolen. This site is just another unlicensed broker who defrauds.
How the scam works
Whether a user knows it or not, bridging the broker-user gap is the first step to a scam. Scammers will act like close friends and try to sell you everything, whereas legitimate entities rarely go beyond formalities.
As financial instruments become more complicated, so do scammers, and there are shockingly advanced swindle techniques that will leave you penniless faster than you think. Hence, think before acting and seek professional advice if needed.
Depending on the scammer’s skill and susceptibility, online ads lead to phone calls quickly. Scammers succeed when they get an initial deposit. After this, the user becomes a victim, and the fraudsters will strive to keep them as long as possible, draining them.
Users recognize something is wrong after 2–3 deposits. But the broker will stop communicating and deny any withdrawal requests by then.
If scammed?
Chargebacks are particularly prevalent if the user invested with a credit or debit card. Hence, card-paying investment frauds are rare today. Good news: MasterCard and VISA have 540 days to chargeback card investments.
We recommend contacting the bank to resolve wire transfer deposits. Change your bank account username and password immediately!
Cryptographic transactions are irrecoverable. Scammers are profiting as cryptocurrencies proliferate and their systems become increasingly complicated. Unregulated brokers should not handle crypto payments.These third-party fraudsters or extensions of current swindlers will trace your stolen money, which seems impossible. They only require a payment that will be lost.
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