JAFX Review 2020
JAFX offers a good selection of Cryptos for trading online 24/7 via the MetaTrader platforms. However, they are an unregulated broker and we would proceed with great caution whenever considering an unregulated brokerage. Furthermore, the broker does not offer any educational materials or standalone trading tools whilst they have a limited choice of account funding options. You may want to check out our best trading brokers for alternative brokerage options.
JAFX Review 2020, Pros & Cons
- MetaTrader Platforms
- Good range of cryptocurrencies for trading 24/7
- Unregulated brokerage
- Limited account funding options
- Limited non-crypto trading instruments
- No educational materials or additional trading tools
In this detailed JAFX review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
JAFX is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including JAFX.
JAFX Review: Summary
JAFX was established in 2016 with a goal to create a retail trading broker which allowed clients to enjoy unparalleled levels of service in terms of liquidity, execution, trading conditions and customer service.
JAFX offer accounts with deposits from just $10 and flexible leverage up to 1:500. The broker has competitive spreads, commissions and trade execution speeds. They allow automated trading through expert advisors (EAs) along with hedging, news trading and scalping trading strategies.
JAFX states that it is a fully transparent forex broker who are dedicated to providing its clients with tailor-made trading solutions. JAFX is one of the first forex brokers that also offers 24/7 MT4 crypto-trading. JAFX has partnered with top crypto exchanges to offer reliable trade conditions and 24/7 trading on many of the top global cryptocurrencies.
Today, digital coins are widely known and accepted to be a conventional investment option. The primary function of this new technological innovation is to make it possible for individuals to purchase, trade, and invest, without the involvement of banks or other financial institutions.
The JAFX broker has a useful widget that lets you check the status of JAFX services over the last 24 hours to 30 days. It monitors and displays the overall uptime and downtime which can help to see how reliable the services are.
JAFX Review: Regulation
JAFX is registered in St. Vincent & the Grenadines. They are an offshore and unregulated brokerage. For this reason, we would prefer to use another online brokerage that is regulated by a well-respected regulatory authority such as the FCA, ASIC, NFA, CFTC or CySEC. Unregulated brokers do not offer the same protection to investors.
JAFX Review: Countries
JAFX actively blocks registrations from the United States and some other countries where they are not allowed to provide brokerage services to clients. Please check with your local jurisdiction if you are permitted to open an account with JAFX. The following countries are restricted from trading on JAFX: Ghana, Burma, Ivory Coast, Congo, Cuba, Germany, Iran, Iraq, Japan, Lebanon, Libya, Malta, North Korea, Somalia, Sudan, Syria, United States, Vietnam, Zimbabwe.
Some JAFX broker features and products mentioned within this JAFX review may not be available to traders from specific countries due to legal restrictions.
JAFX Review: Trading Platforms
MetaTrader 4 (MT4) is one of the most widely used online trading platforms that is made available by most online brokerages to clients from all over the globe. MT4 is well known due to its user-friendly interface, quick learning curve and vast array of built in trading tools. It is easy enough to use for beginner traders whilst having enough advanced capabilities for the more seasoned investor.
The powerful JAFX MetaTrader 4 trading platform allows you to implement strategies of any complexity. The market and pending orders, instant execution and trading from a chart, stop orders and trailing stop, a tick chart and trading history — all these tools are at your disposal.
Some of the core MT4 features include:
- Real time price quotes in market watch window
- Fully customisable user interface
- Trading strategy templates
- Multiple chart timeframes
- Multiple order types
- 3 execution modes
- 2 market orders
- 4 pending orders
- 2 stop orders and a trailing stop
- Technical indicators & graphical objects for chart analysis
- Automated trading with expert advisors (EAs)
- MQL programming interface to create custom indicators, scripts & EAs
- MQL marketplace to download additional trading tools
- Strategy tester to back test EAs on historical data
The JAFX WebTrader allows quick and easy access to the trading platform from directly within web browsers without needing to download or install any additional software. All you need is an internet connection.
Mobile Trading App
JAFX Clients are able to access all trading tools on the go with the provided iOS/Android mobile trading apps. You can trade anywhere and anytime through the apps.
JAFX Review: Trading Tools
Disappointingly, JAFX do not currently offer any additional tools to assist traders such as trading calculators, market sentiment tools, economic calendar, etc. Clients will have to make do with the vast selection of tools already implemented into the provided MetaTrader platforms. These should be adequate enough for most online traders.
JAFX Review: Education
There is no educational centre or materials on the JAFX website which is disappointing. Most online brokerages will offer clients some learning resources to help them increase their trading knowledge and skills. This can include tutorial videos, trading guides, webinars and more. It would be good if JAFX could add these in the future to help new traders.
JAFX Review: Trading Instruments
JAFX broker offers the following instruments for trading online:
- 47 Forex Currencies
- 107 Stocks
- 30 Cryptos
JAFX Review: Trading Accounts & Fees
The JAFX trading account is the brokers standard account that is perfectly suited to the majority of professional traders. The account is quick and easy to setup and can be fully administered from the JAFX Portal. The trading account has a minimum deposit of just $10, allows for 0.01 minimum lot trading and flexible leverage up to 1:500. Spreads start from 0.4 and the commission per lot round turn is $4. JAFX charges an inactivity fee of $10 for clients with a non-zero balance which have not traded in the past 30 days.
Unlimited demo accounts with $50,000 in virtual funds are available if you wish to try out the different trading platforms and practice your trading strategies before opening a real live trading account.
Sharia compliant JAFX Islamic Accounts are available. The JAFX Islamic account is the perfect account option for traders who, due to their religious beliefs, are unable to pay swaps or receive swaps. The JAFX Islamic account is 100% compliant with Sharia law, enabling traders of the Muslim faith to benefit from the institutional grade liquidity that JAFX offers.
As broker fees can vary and change, there may be additional fees that are not listed in this JAFX review. It is imperative to ensure that you check and understand all of the latest information before you open a JAFX broker account for online trading.
JAFX Review: Customer Service
If you would like to speak to someone at JAFX then you can either request a call back by filling in the form or you can call them directly using the telephone numbers provided. Some of the most frequently asked questions from traders are listed in the FAQ page with helpful answers from the support team. If you don’t find an answer in the FAQ, you can email, telephone or chat with someone from the support team online.
JAFX Review: Deposit & Withdrawal
Clients can withdraw funds from a trading account to an electronic wallet within seconds. Deposits are completely automated and instant. You can also deposit and withdraw in bitcoin with 0% fees ($10 minimum). You can also deposit via credit/debit cards. The account funding options are very limited when compared to other brokers. They could perhaps add some online payment processors such as PayPal, Skrill and Neteller in the future.
JAFX Review: Account Opening
It is quick and easy to open an online trading account with JAFX. You just need to complete the short online form and upload your KYC documents to verify your account. Once verified, you will be able to fund your account and start trading online.
JAFX Review: Conclusion
JAFX offers 24/7 cryptocurrency trading via the popular and flexible MetaTrader platforms. Other than that, they have a limited range of non-crypto trading instruments. The spreads and commissions are not the lowest. The broker does not currently offer any educational materials or additional trading tools. Funding options are also limited but the biggest concern for us is the lack of regulation. Most professionals would only trade with a regulated broker. You may want to consider a regulated brokerage with a wider range of brokerage services from our list of the best trading brokers.
Forex trading carries a high level of risk and can result in the loss of all your investment. You must be aware of the risks and be willing to accept them in order to invest in the stock, binary options or futures markets. Don’t trade with money you can’t afford to lose. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.