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Jubix Review | Might It be a Scam?

by Kevin Berry
Rating: 
  1/5   Reviews: 2
Jubix - logo

Jubix is a cryptocurrency exchange with a daily trading volume of 70 million dollars. It offers features like buying and selling cryptocurrencies, asset storage, API key utilization, and an affiliate program for additional income. The company also claims to maintain a “protection fund” stocked with 6,000 BTC and 80 million USDT. However, online reviews of this platform are not only sparse but also relatively new, hinting at a short operational period. Our investigation has uncovered several red flags suggesting the platform might be a scam. Join our review to find out the truth about this lesser-known crypto exchange.

Highlights

🏛️ Country United Kingdom
⚠️ Regulation
🖥️ Website https://jubix.io/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit
⚖️ Minimum and Maximum Leverage 1:1
⚙️ Trading Platform WebTrader
📨 E-mail support@jubix.io
📞 Phone

First Impression of Jubix.io

Upon entering the website, we’re met with a standard cryptocurrency exchange interface, nothing out of the ordinary. Jubix seems content to blend in with myriad similar platforms, offering a rather generic and nondescript official site. The homepage features various sections for the trading terminal, available assets, help center, rewards center, protection fund, buying cryptocurrency with fiat money, and services for institutions. The site supports multiple languages, both European and Asian. It simply shows current quotes for trading instruments, a call to start your crypto trading journey, and information about the availability of a mobile platform.

Jubix - site

Site visitors are left to seek in isolated sections crammed with dry text to find any terms and useful information. Jubix seems to have made no effort to present its trading conditions in a user-friendly way, completely disregarding user comfort and ease of navigation. The official website is both dull and uninspiring. It hardly gives the impression of being a competitive exchange aiming to break into the top ranks of the industry.

Partnership and Bonuses

Jubix offers an affiliate program that promises real monetary rewards for inviting new clients. According to the personal account section, an affiliate earns 20% from each transaction their referrals make, plus 0.5% from the deposit amount. However, these rewards are only payable after recruiting 20 people. Contradicting this, the official site’s FAQ section outlines a three-tiered program: 50% of a referral’s commissions for the first level, 10% for the second, and 2.5% for the third. Given these inconsistencies, it’s unclear what the actual reward rates are, apparently, you can only find out through practical experience.

In addition, Jubix has prepared a diverse bonus program that rewards users for active actions on the platform. There are 5 ways to get bonuses:

  1. Complete KYC and get $3.
  2. $50 bonus for $100,000 trading turnover on the spot.
  3. Deposit Bonus Capital. The maximum reward is $4,000 and funds must not be withdrawn or transferred within 5 days of deposit.
  4. $10 per $1,000 of trading volume on the spot, and $50 per $10,000.
  5. $500 for upgrading the account to institutional.

You should not think that this promotion from Jubix is free money. All rewards are in the form of coupons, except for the deposit bonus. Coupons can offset spot trading fees, and expire after 21 days.

Account Opening on Jubix.io

Creating an account in Jubix is quick and clear. All you need to do is specify your email, create a password, and a promo code (if available), and agree to the user terms and conditions.

Registration

After registration, the platform will ask you to log in using your email and password. Through the Jubix personal account, customers can connect additional security elements (Google verification, funds passwords, email verification), track login history, manage API keys, upload documents for KYC, monitor referral statistics for the affiliate program, and transfer cryptocurrency from funding balance to spot and back.

Account

Verification

Jubix’s verification process is recommended rather than mandatory. The crypto exchange encourages users to complete KYC to enhance account security and expedite recovery in the event of unauthorized access. However, the platform does not clarify which specific features will be unavailable without KYC verification. We can speculate that unverified users are likely to face limitations on withdrawal amounts and the use of fiat currency for deposits.

Pros
  • Verification is optional.
Cons
  • None.

Trading Software

Jubix uses a primitive terminal without special features and functions. Standard interface with price chart in the center, market depth, orders panel, list of assets, and history of trades. There are no technical analysis tools, or indicators, although charts are taken from the TradingView service.

Terminal

Although Jubix claims to offer API connectivity, we found no evidence of this feature within the user account. This option may be exclusively available to users with an “Institutional” status, but that seems unlikely. Additionally, the homepage of the crypto exchange mentions mobile versions of their trading terminal and includes icons for Google Play and the App Store for app downloads. However, clicking these links simply redirects users back to the company’s official website.

Clearly, the trading platform at Jubix leaves much to be desired. It lacks the tools for technical and graphical chart analysis, and the promised API and mobile terminal features are missing. There are also no indicators available. The platform seems to serve only one purpose: enabling users to open and close trading orders. Furthermore, margin trading is not available; only spot trading is offered.

Features Jubix Genesis Exchange Kloredex
Demo Account
Mobile App
Own Development ✔️

How Can I Trade With Jubix?

Jubix offers 33 cryptocurrency options denominated in USDT, BTC, ETH, and USDC. Only spot trading is available, so you can earn only on the price growth.

All Info About Accounts

Jubix provides services not only for retail traders but also for institutional and professional ones. To attain the “Institutional” status, one needs to go through verification, the details of which are unknown. Owners of this prestigious status receive more favorable commissions, API connection for spot and futures trading, reduced transaction latency and improved transaction efficiency, one-on-one account management, 24/7 global customer support services, and interest-free credit.

Pros
  • None.
Cons
  • No margin or derivative trade.

Market Analysis and Education With Jubix.io

There is no analytical service in Jubix, but the company has provided an entire educational database of materials. Users can learn how to deposit and withdraw money with digital currency, what arbitrage, day trading, pump&dump, spot, or margin are, and how to do technical analysis. It also explains how major cryptocurrencies, blockchain work, and other topic

Deposit, Withdrawal, and Fees

In Jubix, users can deposit and withdraw funds using either supported cryptocurrencies or fiat money through payment gateways like Ramp, Simplex, and MoonPay. The platform doesn’t disclose any fees for deposits made through these payment gateways. However, it does not charge any fees for cryptocurrency deposits. Withdrawals are subject to varying commission fees depending on the payment method or type of cryptocurrency used. Trading on Jubix incurs a 0.2% fee for both makers and takers. Those who have attained Premium status are entitled to a reduced trading fee of 0.14%.

Features Jubix Crypto Comeback Pro BTC-MARKETS
Debit/Credit Cards ✔️
Electronic Payments ✔️
Crypto Transfers ✔️ ✔️
Deposit Fee
Withdrawal Fee ✔️

How Can I Contact It?

Jubix offers three different email addresses for contacting them, each designated for specific types of inquiries. They also feature an online chat for immediate support. Although the website displays icons for social media platforms like Instagram, Telegram, and Twitter, these pages have been taken down. Consequently, it’s not possible to reach out to their representatives via social media, view any content, or verify the creation dates of these pages.

Another point worth mentioning is that the embedded links refer to “gwindox” rather than Jubix. We decided to search for a cryptocurrency exchange with the name Gwindox and stumbled upon an interesting detail. Upon visiting gwindox.com, it became clear that the website is a mirror image of our review subject, Jubix. It raises the question: Are we looking at a wide-scale scam? It appears so, and we’ll continue digging to find out more.

Pros
  • None.
Cons
  • Social media leads to the Gwindox clone exchange.

Is Jubix Dangerous?

Initially, the organization appeared to be just another obscure cryptocurrency exchange. We had no reason to suspect any fraudulent activities. However, an in-depth look into their social media presence revealed the reality of Jubix. As a result, our confidence in the platform’s credibility was undermined. Now, all that remains is to examine the most crucial aspects before delivering our final judgment.

How Long Does The Exchange Work?

The period of operation for the Jubix is not disclosed. And this is absolutely not surprising. To get an idea of when the exchange might have been established, we can look at the domain registration date. The domain was registered in August 2023, which is quite recent. The picture is becoming increasingly clear, and there are fewer and fewer questions left unanswered.

Domain

How Is Jubix Regulated?

Cryptocurrency exchanges are generally subject to regulation by financial authorities, although the specifics can depend on the jurisdiction where the platform is registered. According to the user agreement, the exchange is managed by a legal entity named Crypto Arby Trade Limited, which is registered in the United Kingdom. A search in the Companies House registry confirmed that such a company does exist, or rather, did exist, as it was dissolved in 2022. It had a relatively short lifespan, operating for just a year and a half.

Companies House

There is no legal entity, but crypto exchanges continue to operate. It is unambiguous that this is an illegal activity. By the way, the FCA also knows nothing about Jubix and its clones.

Features Jubix Trezo Capital RollerCoin
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

Kevin Berry
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Expert Opinion

It seems we’ve stumbled upon a serial scam project. These fraudsters set up similar yet counterfeit cryptocurrency exchanges with the intent of entrapping unsuspecting users, only to steal their digital assets. Astonishingly, they haven’t even bothered to cover their tracks. How can they so blatantly provide links to social networks that lead to another scam project, Gwindax? Did the scammers really think nobody would notice? Furthermore, it’s straightforward to verify the legal standing of the organization named in the user agreement. Jubix is conspicuously absent from reputable cryptoratings like CoinMarketCap and CoinGecko, and it has zero mentions on Twitter, which is a primary hub for the crypto community. Exercise caution, this is not a platform where you should consider investing.

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Jubix rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

2 reviews about Jubix

Kevin August 23, 2023 - 16:49
Help, please. They don't want me to withdraw 500 USDT
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Help, please! I deposited $500 via Bitcoin on the Jubix exchange, and exchanged it for USDT. I want to withdraw 500 USDT back, but I can’t! Technical support does not process my withdrawal request. It has been several days already. I also can’t contact the company representatives to find out what is the reason why I can’t withdraw my money back. Is it really a scam and fraud? I couldn’t have fallen for a scam so stupidly. Someone, please give information on what can be done. I know there is no way to refund cryptocurrency transactions, but maybe there is some way? I don’t want to lose $500 this way. This is part of my cryptocurrency capital. I’ve already suffered a lot from the fall of the whole market, and here I got caught in a scam. Who has encountered this in practice? Is it possible to get the funds back or can I forget about the money?

Reply
Anonymous Cryptotrader August 29, 2023 - 06:14
It's a silly thing, not a crypto exchange
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Jubix is very poor and crude. There is no functionality at all. I registered an account for the sake of interest to see the insides of the platform. I did not find anything normal and good there. Terminal, which is clearly underdeveloped. Fake liquidity, lack of technical analysis tools. After a couple of minutes, I closed the terminal, because there was nothing else to look at. Obvious scam, which is immediately obvious. Do not fall for this fraud, or you will regret later that you transferred your money to some noname platform and cannot get it back.
But the most interesting thing I found was their protection fund section. The scammers specified 4 wallets: 2 from BTC, and 2 from USDT. I don’t know who the Bitcoin wallets belong to, but obviously not to the scammers from Jubix. However, the two wallets from USDT (TRC-20) belong to another cryptocurrency exchange Bitget. These are indeed its hot wallets. Here’s the funny thing, these fools list other people’s wallets and then pass them off as their own, as if they were securing user deposits. Except it’s easy to verify that the wallets belong to another exchange.
In short, do not fall for this fraud. Some fake crypto exchange.

Reply

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