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JFD Brokers Review: Platform, Regulation, Deposit and Withdrawal

JFD Brokers Review: Regulation, Platform, Deposit, Withdrawal

RATING: 3 / 1 REVIEWS JFD Brokers
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Trading Accounts

 

Account type  Minimum deposit  Minimum trade size  Maximum leverage Average Spreads
Standard $500 0.01  1:400 0.2 pips on EUR/USD + $6 commission round turn per standard lot MT4


JFD Brokers offers its clients a single universal account type with STP/NDD execution, high leverage levels, tight variable spreads and reasonable commission.


Besides, micro lots are available for trade to investors who don't want to put much at stake and trade in lerga volumes. Swap-free (Islamic) accounts are no longer offered by JFD Brokers.


The Company. Security of Funds

 

Company Country  Regulation
JFD Brokers Ltd. Cyprus  CySEC


Founded in 2011, JFD Brokers is an award-winning NDD broker, offering trading in more than 68 currency pairs, precious metals and CFDs on indices, commodities, bonds and equities. Established in Cyprus, with operations in Bulgaria and a strong presence across German speaking territories, JFD Brokers strives to further expand across Europe.


JFD Brokers Ltd., doing business as JFD Brokers, is a Cypriot Investment Firm (CIF), registered in the European Union and licensed by Cyprus Securities and Exchange Commission (CySEC).


CySEC applies certain rules and requirements to Cyprus Investment Firms. For instance, they must hold at least €730,000 in order to prove their good financial standing. In addition, the Commission requires forex brokers to keep customer funds in segregated accounts, separated from the company’s operating funds.


As a further guarantee to clients’ funds, all CySEC-regulated companies are members of the Investor Compensation Fund, which is able to pay compensation up to 20,000 EUR, If the company is in default.


Additionally, every CySEC- regulated investment company is also MiFID compliant and therefore entitled to offer cross-border services within the EU under the MiFID regulations. Despite this, it is is registered with the German Federal Financial Supervisory Authority (BaFin), the British Financial Conduct Authority (FCA), and the French Autorité de Contrôle Prudentiel et de Résolution (ACPR).


Trading Conditions


Minimum Initial Deposit

In order to open an account with JFD Brokers, traders have to invest a minimum of $500. Such minimum initial amount is a bit high, taking into account that many Cyprus-based brokers require less. For instance, XM demands just $5 from its clients as a start.


Spreads & Commissions
Being a true STP broker, JFD Brokers offers variable spreads, the average ones for the EUR/USD pair amounting to around 0.2 pips, involving a commission of $6 per standard lot round trip. So basically, average trading costs per lot with this broker amount to around 0.8 pips, which is a really competitive pricing, as we find most brokers offer spreads within the range of 1.0 – 1.5 pips for the EUR/USD pair.


For purposes of comparison, XM provides variable spreads averaged 0.1 pips on EUR/USD + commission $5 per standard lot (per side). For more information, you may look up real-time spreads of 15 leading brokers here.


Leverage
The maximum leverage level offered by JFD Brokers is 1:400, which is common for the FX market, yet it is considered a high ratio, because the higher the ratio, the greater the risk.


Nonetheless, many Cyprus-based brokers offer even higher leverage rates - for example, XM provides leverage up to 1:888. You may check out a list of brokers, providing leverage equal to or exceeding 1:500 here.


Trading Platforms


This broker supports the standard forex trading platform MetaTrader4 , its successor the MetaTrader 5 and web-based platform Guidants.


MT4 remains the preferred choice for traders across the world, as it provides a full spectrum of trading tools and resources: more than 50 built-in technical indicators, advanced charting package, a wide range of Expert Advisors (EAs) and extensive back-testing options for them. Traders can download ready-made or create their own EAs and let the program do all the work. Like most brokerages, JFD Brokers provides forex VPS – a virtual server that you can use for hosting your MT4 EAs, providing extra security connection when trading forex.


Furthermore, JFD Brokers have enhanced the MT4 to include a unique package of benefits and useful add-ons. Exclusively JFD branded, MT4+ is equipped with some extra features, such as: Depth of the Market, Sentiment Trader, Correlation Trader, Alarm Manager, Correlation Matrix, Session Map, and others.


More brokers using the MT4 can be viewed here.

 

The other platform offered by this broker, Guidants, is one of the most popular market research and analysis softwares in Germany and the DACH region. JFD Brokers was the first broker enabling trading on FX and CFD in the entirely web-based Guidants.

 

Currently offered only in German, Gudants platform offers various desktops, each one catering for a different type of trader, and featuring some of traders’ favorite widgets, available for free and ready to use:

 

- JFD Classic focuses on social trading, enabling users stay in touch with the broker, experts and other traders.

- JFD Technical provides extensive charting possibilities, all of them easily accessible from the Chart. The combination of several instruments and indicators within one chart allows traders to have a better look at the markets and make advanced technical analysis.

- JFD Fundamental brings technical analysis to a professional level. It offers widgets, such as WatchList, Economic Calendar, Fundamental Charts, among others, synchronized in sets that increases the speed of trading.  Here is how the JFD Fundamental desktop of Guidants looks like:

 

 

 

Methods of Payment


In line with its strategy to offer standardized and narrow range trading conditions and to its clients, JFD Brokers supports a small range of payment methods: credit/debit cards, bank wire transfer and e-wallets POLi and Skrill


You can open accounts in EUR, CHF, GBP, and USD.


Conclusion


JFD Brokers is a reputable FX and CFD broker that offers trading in great variety of instruments through a selection of trading platforms. The thing we like best about this broker is its pure STP/NDD model. To sum up the above, here are the advantages and drawbacks with regards to this broker:

 

Pros Cons
Well-regulated No significant disadvantages
Tight competitive spreads  
Choice of trading platforms, MT4 available   
STP/NDD Model  

 

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Traders` reviews for JFD Brokers

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Avoid at all costs

I wish I read the negative reviews on the Internet before I transferred them some money. The negative ones, yes. One of their employees smugged not being interested in my review, as they pay for likes and good reviews.

This is the worst organised broker I worked with. I was quite surprised, they are supposedly German owned. Everything is done by hand, slowly. I encountered numerous faults in their systems. Getting my money back was a nightmare, at least I got back almost all of it at the end.

'Supposedly', as they are to be regulated by Greek Cyprus authorities only, and their only office I had contact with was a Bulgarian one. Don't be fooled by them mentioning Western European authorities and offices, read the small print.

Jeffrey Green 04/14/2018
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