Whenever you need to trade, it’s important to choose a broker that is reliable. JAFX is a good option for most traders because it has been established for years and is considered to be one of the most reliable brokers in the industry. It also offers a wide variety of tradable instruments and has a number of advantages to its users. The main advantage of the STP/ECN account is that it provides direct access to the interbank market. It also shows transactions on the JAFX Portal.
Having a JAFX Demo Account is a great way to gain experience with the trading platform before you begin to trade with real money. It is also a good learning tool for advanced traders who want to test their strategies. In addition to the Demo Account, JAFX offers a few other types of accounts for traders. These include a STP/ECN account and a PAMM account. The STP/ECN account allows you to trade on one account, while the PAMM account allows you to trade on two accounts at the same time. These accounts are available in many currencies.
When it comes to leveraged trading, JAFX promises a maximum of 1:500. This leverage is incredibly high, and it means that a trader could lose more than he/she initially deposits.
Range Of Tradable Instruments
Founded in 2016, JAFX is a relatively new trading platform focusing on cryptocurrencies. It offers a wide range of tradable instruments. The broker uses Bitfinex as its liquidity provider. The JAFX portal is used for both personal and corporate accounts. The company is based in Saint Vincent and the Grenadines. It offers a wide variety of currencies and assets, including precious metals and energies. However, the range of stocks offered is not as large as larger brokers. The broker is also not available to residents of Sudan, Somalia, Vietnam and Syria.
Although the website is not very professional, it is fairly easy to navigate. The portal features a variety of information, including the types of trading instruments and the number of currency pairs. There is also an FAQ section that mentions additional services according to jafx broker review.
Three Types Of Accounts
Traders looking for a new broker can consider JAFX, an offshore company based in Saint Vincent and the Grenadines. It offers three types of accounts: Swap-free Islamic, ECN and STP. The Swap-free Islamic account allows Muslim traders to trade without paying interest. The account is fully compliant with Sharia law. It is available in three different trading instruments: commodities, precious metals and currencies. The STP/ECN account lets clients process orders on the broker’s servers. It is possible to choose between a single STP or ECN account, and each type of account provides a variety of advantages.
The minimum deposit for a JAFX account is $10. This is a lower amount compared to the average industry minimum. In addition, the company offers a free demo account with $50,000 virtual cash. The platform is based on the MetaTrader 4 trading platform. The trading tools include built-in technical indicators and alerts for changes in market conditions.
Despite being relatively new to the trading industry, JAFX broker has already faced some challenges. It is not registered with financial regulators and has not gained a good reputation. Traders need to avoid it as it does not offer quality trading services. Traders who want to be protected from fraudulent activities should trade with brokers who are regulated. These brokers are required to meet certain requirements, such as keeping clients’ funds in segregated accounts. These accounts ensure that the funds of clients are safe even when the broker goes bankrupt. They can also offer cheaper trading products and bonuses.
Moreover, regulated brokers do not use trickery to make traders lose money. They have to follow rules and regulations imposed by the regulatory authority. Failure to comply with these rules can result in heavy penalties.
Is It A Scam Or Legit?
Considering the number of fake Forex brokers out there, one has to be very careful before investing. Traders need to know what the broker is claiming before they invest. In addition, they need to make sure that they are sending their money to a reputable company. JAFX is an offshore company that is located in Saint Vincent and the Grenadines. It is a fairly new company in the Forex industry. However, it does not have a license from the financial authority of the nation where it is based.
The website for JAFX does not have a very professional appearance. It contains a small amount of information, primarily focusing on cryptos. It also contains an FAQ page. It has a section of live spreads, but it is not actually live.