Abstract：JARDEN, a Seychelles-based brokerage firm, is receiving a common but critical complaint. This is about the alleged tax payment demand by the broker in return for unfreezing withdrawals for its clients. Complaints have come from Colombia and the United Kingdom on broker evaluation platforms such as WikiFX. In this JARDEN review, we have examined this common allegation and shared whether the broker is regulated.
JARDEN, a Seychelles-based brokerage firm, is receiving a common but critical complaint. This is about the alleged tax payment demand by the broker in return for unfreezing withdrawals for its clients. Complaints have come from Colombia and the United Kingdom on broker evaluation platforms such as WikiFX. In this JARDEN review, we have examined this common allegation and shared whether the broker is regulated.
ContentsJARDEN Broker Overview: Market Access & Account Types
JARDEN is a multi-asset brokerage firm with trading opportunities spanning forex, securities, futures, metals, commodities, and stock indices. According to the WikiFX report, the company offers as many as four trading accounts: ECN, Premium, Pro and Standard. The table below shows key details, including the minimum deposit required across accounts.
Details, such as spreads, leverage and commission, could not be accessed. This leads to transparency issues as you look to evaluate the broker based on its offerings.
User Allegations Against JARDEN
Guaranteed Fund Tax Proposed for Withdrawal Clearance
A user from Colombia reported facing struggles while withdrawing funds from the JARDEN platform. According to the trader, the brokerage firm reportedly nudged him to pay a guaranteed fund tax for gaining withdrawal access. The trader admitted that since he was referred to the platform, the broker allegedly put this demand on the trading account as well as the account of the person who referred him. While the trader reportedly paid the requested amount, he continued to face additional payment demands. This JARDEN review shared by the trader highlights the alleged trading mess.
Same Payment Amount Demand Under the Pretext of Different Names
Another Colombian user noted that while withdrawing, the broker asked for additional deposits, somewhere around USD 20000 for margin. Following this, the broker allegedly put forth a demand of another USD 20,000 as a guarantee and froze the trader's account. As the trader paid the same, he was allegedly informed of another USD 20,000 to be paid for a tax guarantee. Suspecting the whole trading incident, the trader shared this negative review of the broker.
Another Scam Allegation Against JARDEN
Calling it a scam platform, a British user alleged that the WhatsApp group disappeared along with bot comments indicating traders' earnings. The trader doubted the website's longevity and expressed concerns for those wanting to invest with the broker. Here is the JARDEN review that highlights concerns for clients.
JARDEN Regulation Status & Trust Score
The complaints above may have made you conscious regarding the JARDEN regulation details. So, if you are asking: Is JARDEN licensed? The answer is NO! It has no forex license. The two licenses from the Australian Securities & Investments Commission (ASIC) and the Seychelles Financial Services Authority (FSA) are unverified, putting the broker in a high-risk zone. As a result, the WikiFX team gave the broker a score of 1.52 out of 10.
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