Jazzrex review – is jazzrex.com a scam or safe?

Jazzrex Key Facts

🔴 Jazzrex offers questionable bitcoin related investment opportunities – a clear sign of a scam!

🔴 Jazzrex is quite deceptive with crucial contact information – beware!

🔴 Jazzrex lacks a license for the provision of its services – a huge red flag!

🔴 Jazzrex's domain has been registered only recently – another off-putting detail!

Jazzrex products and services

Jazzrex is yet another online scam that offers incredible returns on deposits – starting from 3.5% daily. There is no way for it to score such returns, of course – the company is simply trying to pocket as many deposits as it can from you.

People should always be cautious when dealing with businesses offering enormously high yields because it's scammers' trait to promise big and create unrealistic expectations. In reality, regulated financial companies cannot secure more than a few percents annually with their fixed-income products. There is a huge discrepancy between these offers and the regulated companies standards. Judging by the products and services they sell, we suspect it's a scam, so beware.

Jazzrex company and regulation

Jazzrex provides us with a badly edited certificate from the regulatory body of the Cayman Islands. We checked with it, and, unsurprisingly, Jazzrex does not figure in its database.

The US financial services regulation is very complex in the USA. Derivatives markets regulation is a responsibility of CFTC and NFA. Forex brokers and most of the investments companies have to be NFA members and CFTC registered to operate in the USA. On the other hand, securities markets are controlled by the SEC, a government independent agency responsible to maintain the integrity of the financial markets.

While SEC focuses more on the procedure regulation insisting on financial reports and management discussion and analysis, NFA and CFTC impose pretty straightforward requirements. To become authorised the companies have to provide 20 million USD in paid-up capital, which is considered a guarantee that the businesses can survive in turbulent times and pay whenever they have to. 

Other customer protection measures include clients’ accounts segregation and leverage restrictions for forex brokers- 1:50. Also, CFTC brokers’ clients are not allowed hedging, which is one of the very unique US features. Unfortunately, the cryptocurrencies regulation is still inept, so traders and investors should be wary when dealing with crypto offers.

Jazzrex address and contacts

The company supposedly has an office on the following address – P.O. Box 466 Grand Cayman KY1-1602 114 Kingbird Drive. This is impossible without a license, which Jazzrex does not hold, as we discussed above.

Transparency is crucial when talking about brokers and investment companies, and it's part of the regulatory framework. The regulated companies are open to financial authorities following certain transparency rules, so it's generally unlikely to conduct fraudulent activities. They are also bound to provide the public with crucial information about themselves, making it easy for traders and investors to confirm the company's legitimacy.

Jazzrex website info

Jazzrex operates on a domain that has been registered this Jauary, making it incredibly recent – 3 months old as of the time of writing. Recent domains are a huge scam sign, but the same can be said of obscure ones – and Jazzrex is quite obscure, with SimilarWeb not even listing it on its index.

The domain owners have covered themselves up from WhoIs lookups – another sign they are comfortable with breaching the principles of transparency. The domain itself is hosted on the 162.0.209.151 IP address – along with over 470 others, which were unrelated to Jazzrex as far as we could tell at the time of writing.

Scam warning

We paid utmost attention to the regulation and transparency in the sections above because it’s mandatory for trading and investments. Pretty much each company offering financial services have to be authorised by the local financial authority. 

However, some entities operate unlicensed and intentionally run investment fraud. It would be best if you only dealt with companies authorised by the regulators, so always check to make sure they are. Bear in mind that if you trade with unauthorised businesses, you won’t be protected, so it’s very likely to suffer losses almost impossible to recover if things go wrong.

Online scam is trending nowadays with fraudulent websites popping up literally every day. The financial authorities increase the number of warnings issued year after year, but the dangers are still out there and growing exponentially. You’ll realise the hazards when you consider OneCoin scam- it’s still impossible to calculate the total loss, but it’s regarded as 15 billion worth fraud. Make sure to trade with licensed and regulated companies to avoid off-putting losses.