- Tight spreads.
- High leverage (1:3000)
- Multiple trading platforms.
- Scalping, hedging, and use of EAs allowed.
- Few regulators.
- US traders not allowed.
- Few instruments traded.
- China UnionPay
- Credit Card
JustForex is a forex, crypto and commodities broker founded in 2012 and headquartered in Belize, Central America.
International Financial Services Commission of Belize regulates this broker under license number IFSC/60/241/TS/13. Unlike most brokers of its category, JustForex is governed by a single oversight body.
Also, unlike most brokers, this broker does not participate in any awards. Their position is that the best brokers don’t need awards to prove themselves to clients.
JustForex is available in over 12 languages to include English, French, Portuguese, Russian, Spanish, Indonesian, Chinese, Vietnamese, Thai, Korean, Arabic and Malay. While their trading platforms cannot be considered as the best in the industry, most users report them to be easy to use.
JustForex is suitable for both beginner and experienced traders. The broker offers five types of accounts namely;
- Cent Account.
- Mini Account.
- Standard Account.
- ECN Zero.
- Crypto Account.
The Cent, the Mini and Crypto accounts do not have a minimum deposit. Both the Standard and ECN Zero accounts have minimum deposits of $100 and $500 respectively.
When it comes to leverage, the maximum amount offered for Cent accounts is 1:1000 while that for Mini and Standard accounts is 1:3000. The maximum leverage for ECN Zero accounts is 1:500.
For ECN, Pro ECN and crypto accounts, JustForex passes trades directly to liquidity providers, therefore, ensuring fast executions.
JustForex is a forex, crypto and commodities broker. With this broker, traders can access over 80 currency pairs, along with commodities such as oil and gold.
When it comes to cryptos, JustForex offers over 39 popular coins including Bitcoin, Ethereum, Litecoin, and Ripple.
- Over 80 forex pairs.
- Over 39 crypto coins.
- Commodities such as oil and gold.
As mentioned earlier, this broker is regulated by the International Financial Services of Belize under license number IFSC/60/241/TS/15. Unlike most brokers of the same category, this broker is regulated by one body only.
While this may raise concern with most traders, their online reputation says otherwise. It is essential that you carry enough due diligence before opening an account with any broker.
JustForex offers the popular MT4 in a variety of options including web-trader and an android and iOS app. Their MT4 web-trader provides instant access to global financial markets for demo and live trading. With this platform, there is no installation required.
For the record, the MT4 trading software comes with many inbuilt trading features to include charting tools, over 80 indicators, automated trading tools, a market watch window, and many others. It is free and easy to use.
The MT4 offered by JustForex is fully customized to meet the needs of traders according to the account they are trading in. With JustForex, demo traders can access most of the features to ensure that they are fully prepared to handle live accounts. The platforms are available in over ten languages.
All trading platforms provided by this broker are mobile-compatible. The broker offers native iOS and Android apps, available for free on App Store and Play Store.
JustForex iOS and Android apps offer a full-fledged forex trading platform equipped with over 30 different types of technical indicators, real-time charts and quotes, market news features, and automated trading tools.
JustForex offers floating spreads with the ECN accounts, having tighter spreads than the standard account types.
Case in point, for the EUR/USD pair, the average spread for the standard account is 1.3 pips while that of the ECN account is 0.9 pips. This means that ECN account holders get to incur low trading costs than their counterparts.
ECN Zero accounts spreads start as low as 0 pips and usually incur transaction charges in form of a commission. The Cent, Mini, and Standard accounts, on the other hand, have a bit higher spreads given that the broker makes money from the spread.
Just Forex offers the most competitive spreads for both the ECN and standard accounts. We did not find any complaints about this broker widening spreads during market events.
JustForex offers a wide range of deposit and withdrawal methods to include Bank Wire Transfer, Visa & Master Card, e-payments, China Union Pay, Dixi Pay, FasaPay, WebMoney, Western Union, and many others.
With this broker, there are no deposit charges, but most types of withdrawal methods incur a fee in the form of a percentage of the amount withdrawn.
Deposits are processed instantly for almost all methods apart from those from Swift Wire Transfer and E-Payments association.
The former takes one to two hours while the latter takes three to five days. During business hours, all withdrawals are processed between one to two hours. Depending on the form of payment, delivery of funds may take a bit longer, with wire transfers taking the longest at up to a week.
JustForex offers a 24/7 customer support available through email, live chat, and callback requests.
Traders must fill an online form indicating their phone number, a convenient time for the call and other details to get a call from this broker. While live chats are answered after a few minutes, emails may take up to 24 hours.
A comprehensive FAQ page among other resources is also available on JustForex website to guide clients on most raised issues. The site is available in multiple languages to service clients from different areas.
With this broker, traders can access a wide range of educational materials including articles, videos and a glossary, all suitable for beginner as well as experienced traders. The videos cover topics such as trading signals in the MT4 trading terminal, their stats, and installation.
All of these materials are provided for free and do not require a registration for accessibility. From our viewpoint, this broker does not provide enough materials for trader education. They also do not participate in activities that challenge traders to keep learning or offer regular webinars.
Perhaps the most exciting thing about JustForex is their competitive spreads. This broker is among the cheapest in the industry for both standard and ECN accounts. Another important thing worth noting is that they do not require a minimum balance to open an account.
JustForex trading platforms are also great even though they do not offer an alternative to the MT4 trader. However, this is not a problem given that they only provide Forex, commodities and crypto trading. This broker also regularly offers bonuses and promotions to encourage account opening.
The only downside to this broker is that they are only regulated by one oversight body. However, they have never been involved in any scandals so far and therefore, we believe, can be trusted.
While we cannot guarantee that this is the best brokerage for you, we believe they are worth a try. Their low spreads and considerable leverage makes them an excellent choice for both beginner and experienced traders.
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