Pros and Cons
JustForex is an online forex broker that is registered by the name of JF Global Ltd in St.Vincent and the Grenadines. The company was established in 2012 and has clients from more than 197 countries. The broker allows traders to trade more than 170 instruments. JustForex is associated with top liquidity providers, which include 18 of the largest banks in the world. This allows brokers to provide tight spreads to the traders. For ECN Zero Accounts, the spreads are as low as 0 pips while the execution speeds are 0.05 seconds. The broker supports both MetaTrader 4 and MetaTrader 5 trading platforms. Traders get to access multiple account types without requiring any minimum trading capital.
JustForex offers its services to almost every country in the world except the United States of America. In some countries, JustForex is available but with limited features, due to certain legal restrictions applied on the brokers.
MetaTrader 5 (MT5) is a trusted trading platform with several powerful tools for trading, charting, fundamental and technical analysis. The platform is fast, dynamic, and supports several trading styles and strategies. Traders can easily download the platform on their Windows computer, Android, and iOS-based smartphones.
MetaTrader 4 (MT4) is another trading platform that was rolled out before MT5. The platform was developed by the same company that developed MT5, i.e., ‘MetaQuotes Software Corporation’. MT4 is still the most popular trading platform even after having a successor in MT5. The reason why MT4 is still in use is its ability to become compatible with thousands of trading platforms, which can’t run on MT5. The MT4 trading platform is highly sophisticated as it is packed with powerful tools to conduct detailed chart analysis and trading. MT4 has a user-friendly interface and a short learning curve. MT4 is available on all platforms, be it desktop, smartphone as well as browser-based version.
There is no minimum deposit to trade a mini account. Traders can deposit money in multiple currencies, including USD, EUR, THB, VND, CNY, IDR, MYR, KWD, or ZAR. The broker provides a maximum leverage of 1:3000 whereas the spreads start from 0.3 pips.
This trading account is denominated in cents, which is the subdivision of US dollars. The maximum leverage in this account is 1:1000 whereas the spreads start from 0.3 pips.
For a standard account, the minimum deposit is $100 whereas the maximum leverage remains at 1:3000, and spreads start from 0.1 pips. A client trading this account can trade only 57 forex and 2 metal assets.
ECN Zero Account
In this account, the minimum deposit is $500, the maximum leverage is 1:500 and the spreads start from 0 pips. Traders can trade only forex, cryptocurrencies, and metals in this account.
In Pro Account, the minimum deposit would be $500. The maximum leverage in this account is 1:3000 whereas the spread starts from 0.1 pips. This is a flagship account, which means a trader can trade all the instruments available at JustForex.
JustForex allows its traders to access both MT4 and MT5 trading platforms. Using a demo account, traders can become familiar with the trading platforms and practice different trading strategies.
- Credit/debit cards: The broker accepts payments made from MasterCard, Visa, and China UnionPay cards. Traders can make a minimum deposit of $5 while the maximum deposit is $2,000. There is no fee for making deposits, but for withdrawals, 2.4% + $2.5 will be charged. The deposits made through cards are processed instantly while withdrawals can take up to 5 days.
- Online payments: JustForex also accepts online payments from SticPay, Neteller, Skrill, Alipay, FasaPay, PerfectMoney, and QIWI. There is no fee on making deposits but 1% or less on withdrawing the funds. Moreover, withdrawals can take 1-2 hours to process.
- Local transfer: JustForex accepts local transfers from several countries that include Indonesia, Thailand, Vietnam, Ghana, Nigeria, South Africa, etc. There isn’t any fee on deposits but there is on withdrawing funds.
- Crypto Payments: The broker accepts crypto payments from Bitcoin and Bitcoin Cash. Payments made from cryptocurrencies are free and processed within 2 hours.
The process of opening an account on JustForex is very simple. Here is what traders need to do:
- Open the website and click on ‘Registration’.
- Then, enter all the details in the form and click on ‘Register’.
- A message will appear on the screen confirming the registration process.
- Another form with the title ‘Open First Account’ will be displayed on the screen
- Fill in the account type, leverage, base currency, password, and then, click ‘Open Account’.
- Now, log into the clients’ area.
Traders can create more accounts from the clients’ area. Traders will have to upload verification documents in order to make deposits and withdrawals. Upon the successful verification of the trading account, traders can start trading online using the trading platforms given on JustForex.
JustForex is a top choice for many traders as it offers fast execution speeds, very high leverage, and competitive spreads. The broker also offers different account types to cater to the different needs of the traders. There are numerous training articles provided by the broker as well along with the feature of demo accounts where traders can practice for as long as they can. Overall, it is a decent broker with many useful features for traders to carry out forex trading in a fast and efficient manner.