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JavaGM Review - Is it scam or safe?

JavaGM Review - is javagm.com scam or good forex broker?

RATING: 3 / 0 REVIEWS JavaGM
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Trading Accounts

  

Account type

Minimum deposit

Min/Max trade size

Maximum leverage 

Average Spreads  

Classic

$500

0.1/20

1:100

3.0 pips, fixed

Pro

$500

0.1/20

1:400

0.8 pips + flexible commissions

 

Java Global Futures (JavaGM or JavaFX) offers its clients two account types, both of which require an initial deposit of $500. The Classic account is commission-free with fixed spreads, while the Pro one offers variable spreads and flexible commission fees with higher leverage levels.

 

Keep in mind that scalping is not allowed with this broker. Also, there are no account management services (PAMM) available with JavaGM.

 

The Company. Security of Funds

  

Company

Country

Regulation

PT. Java Global Futures

Indonesia

Commodity Futures Trading Regulatory (BAPPEBTI)

 

Java Global Futures (JavaGM) is a Jakarta-based broker that offers trading in 24 Currency Pairs, precious metals, oil, as well as futures on both MetaQuotes’ platforms – MT4 and MT5. Popular trading instruments, such as indices and stock CFDs are not available with this broker.

 

The company behind the brand, PT. Java Global Futures is authorised and operates under the supervision of Indonesia’s Commodity Futures Trading Regulatory and is also a member of the Jakarta Futures Exchange (JFX), the Indonesian Derivatives Clearing House (IDCH) and of the Indonesia Futures Association (ASPEBTINDO).

 

The company abides by the strictest standards, including capital adequacy requirements. and submits financial reports to the JFX and KBI on a regular basis, including daily reconciliations of client funds.

 

Besides, all client funds deposited with JavaGM are fully segregated from the company’s own funds and are kept in separate bank accounts. What is more, clients` money is protected by the Investors Compensation Fund (ICF).

 

Trading Conditions

 

Minimum Initial Deposit

In order to open an account with JavaGM, traders have to invest a minimum of $500, which is not bad, as the biggest Indonesian broker, MIFX, requires more than $4000 as a start.

 

Spreads & Commissions

JavaGM’s fixed spreads are above the average rate of 2 pips on EUR/USD, while typical variable ones are really competitive – averaged 0.8 pips for this pair. However, Pro account holders are also charged with commissions fees, the amount of which are not specified. 

 

Leverage

The maximum leverage level offered by JavaGM is 1:400, which is considered high. By comparison, Monex Investindo Futures (MIFX), for example, offer leverage up to 1:100.

 

Although we would not advise traders to operate with higher leverage levels because of the greater risk of heavy loss involved, some small traders may not be able to score large profits with low initial deposits.

 

Trading Platforms

 

JavaGM offers both MetaQuotes’ platforms - MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

 

MT4 has established itself as the industry standard. It combines an intuitive user interface with a customisable feature-rich environment, and provides everything a trader needs to chart assets, place orders, manage positions and automate trades via EAs.

 

MT4’s successor - MetaTrader 5 - offers retail forex traders many features that were previously only available on institutional level platforms. Besides, through MT5 you can also trade in stocks.  It uses MQL5 programming language and allow automated trading via Expert Advisors (EAs).

 

Methods of Payment

 

JavaGM supports a small range of payment methods – bank wire transfer and credit/debit cards.

Accepted Currencies: IDR or USD

 

Conclusion

 

JavaGM is a regulated Indonesian broker, which offers trading in forex, futures and precious metals on MT4 and MT5. Besides, JavaGM’s spreads are not among the tightest in the industry and the information on its website is rather scarce. To sum up the above:

 

Pros  Cons
Well-regulated   High fixed spreads
MT4 and MT5 available   No PAMM service, micro lots, index CFDs
Competitive variable spreads  

 

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Traders` reviews for JavaGM

Spread

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Slippage

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Requotes

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Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

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Summary

Pros

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