JAFX offers a single STP/ECN trading account with tight variable spreads, high leverage levels and the option to trade in micro lots. You can trade in a number of currency pairs, as well as various CFDs on the MetaTrader 4 platform.
There are also a PAMM account and an unlimited free demo account with virtual $50 000. The broker also offers several automated trading systems.
Overall, the offerings of JAFX appear attractive: low initial deposit required and low trading costs. Average trading costs are around 1.0 pips for EUR/USD (spread + commission), which is on the lower end of the industry standards.
Keep in mind that JAFX does not accept clients from Burma, Ivory Coast, Congo, Cuba, Iran, Iraq, Japan, Lebanon, Libya, North Korea, Somalia, Sudan, Syria, Vietnam, Zimbabwe.
The broker allows scalping and hedging.
The Company. Security of Funds
Company Country Regulation
JAFX Ltd. SVG None
JAFX is an offshore unregulated broker – a fact that should cast serious doubt and invoke caution among traders. Dealing with unregulated offshore brokers is very risky as many of them are nothing but a scam whose only goal is to make off with their clients’ money.
According to some forum posts, JAFX is owned by some guy named John Anthony who has been running a binary options trading signals site johnanthonysignals.com, while others accuse him of running a Ponzi scheme with the purchasing of golden membership on the signals site. Then there are satisfied clients of the JAFX brokerage who say it offers good trading conditions and tight spreads.
We are not certain what the truth is in this case, but nonetheless we would not recommend JAFX. It is always better to deal with properly regulated brokers, like the ones supervised by, for example, UK’s FCA or the Australian Securities and Investment Commission (ASIC).
JAFX, like hundreds other brokers, provides the popular MetaTrader 4 (MT4) platform for trading – as a desktop, web and mobile application.
MT4 is the most frequently offered trading platform and is popular both among brokers and traders. It is stable and reliable, has many functions, offers API connectivity, supports PAMM and MAMM functionality and has a wide selection of technical analysis and charting tools. It is also user-friendly and supports Expert Advisors and automated trading.
JAFX accepts payments through bank transfers, credit and debit cards, Bitcoin and the electronic payment system Skrill. It does not charge transaction fees on deposits.
JAFX Review Conclusion
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