A look into ASJ FOREX GLOBAL and JP MORGAN Partnership
by Financier
This blog post is based on the personal opinion of the author based on his experience, research, and insights provided by people.
I have submitted this article as there have been many questions regarding the truthfulness of the announcement of the trending trading platform, ASJ FOREX GLOBAL.
There has been news that ASJ Forex Global and one of the biggest banks in the world, JP Morgan Chase had formed a partnership. Well, to be accurate, the news was that JP Morgan had "invested" into ASJ Forex Global to help the latter with its capital and trading activities. Recently, there has been an uproar in the ASJ community, especially in the Philippines, as the exchange platform had ceased its withdrawal operation. This means that the withdrawal of funds was withheld due to the 2nd activity between ASJ and JP. The reason is that ASJ Forex needs to stop its cash outflow due to the audit being made by its partner. The result will secure the second funding which will help the company grow more. Does this make sense to you?
Well, this resulted in positive and negative feedback from its members. At first, members welcomed the news but as it was revealed that members will not be able to withdraw until July 11, it created unrest.
Let's get to the main topic. Is there a partnership between ASJ Forex and JP Morgan?
THE NEWS
There are so-called "articles" over the web regarding the strategic partnership between ASJ Forex and JP Morgan.
ASJ Forex Global Secured Second Strategic Investment from JPMorgan – Digital Journal
ASJ Forex Global got the second strategic investment from JPMorgan
Time News Wire - ASJ Forex Global got the second strategic investment from JPMorgan
The sites are legitimate. They do post articles. However, they also post "sponsored" articles. This means that an organization can submit an article that they have sponsored. Now, you get the idea.
It does not matter if the article is true or not as long as it is sponsored.
ASJ FOREX GLOBAL - Announcement
The ASJ TEAMS chat group where most ASJ members belong where also "briefed" about the strategic partnership. This was a discreet announcement as it was not posted on any site that members will not be able to withdraw until July 11. This is because of the partnership.
ASJ FOREX GLOBAL maintained that they have a strategic partnership with JP Morgan.
Is there really a partnership?
Well, JP Morgan has no announcement regarding this.
Here's a food for thought for everyone reading this.
1Would JP Morgan, one of the most secured financial institutions enter into an investment with an UNREGULATED Broker? - Obviously, the answer is no. Big Investment Banks will never enter into an agreement with an unlicensed firm (check the Hongkong Securities Exchange Commission).
There is no strategic partnership with ASJ FOREX Global and JP Morgan.
I have seen members of ASJ sharing information that their friends working in JP confirmed that they made an investment with ASJ. That it is on their internal site.
I was curious and asked one of my friend who had been working in JP (a former team lead and currently has a decision-making role) and specifically covers Asia Pacific. He responded that the have never heard of that company (ASJ) and as far as he knows there is no ongoing investment or partnership. I probed further and asked him what if JP is keeping it a secret.
He said maybe, but its already 2nd strategic meeting which means there was already a first investment and there was no first investment recorded. Also, ASJ GLOBAL had made the news public which means this is supposed to be public information. But there is no such thing as an investment.
Well, there you have it.
Also, if you visit one of the official web pages of J.P. Morgan Chase, you will see an official reply comment from JP to those users who have been inquiring about the partnership. You will find a lot of the same inquiries and comments about it.
J.P. Morgan Chase Facebook - JPMorgan Chase & Co. - Home | Facebook
JPMORGAN CHASE & CO. "This is false. Our company has not made an investment in ASJ Forex."
I am not concluding that ASJ Forex activities is fraudulent. As of now they are still live and have investments. If they still have the fund and the company figures that they have not yet reached the optimal return, I guess the show will go on.
But the reason that you can't withdraw right now in your platform is not because of any strategic investment being made.