Is JustForex a scam?
JustForex is a forex broker that is regulated by the International Financial Services Commission of Belize (IFSC), which is a reputable financial regulatory body in Belize. The IFSC ensures that JustForex operates in accordance with international standards and regulations and that it adheres to strict rules and guidelines for financial services providers.
In addition to the regulatory oversight, JustForex takes several measures to ensure the safety and security of its clients’ funds and personal information. These measures include:
- Segregation of Client Funds: JustForex maintains segregated accounts for client funds, which means that client funds are kept separate from the broker’s own funds. This ensures that client funds are not used for any other purpose and are available for withdrawal at all times.
- SSL Encryption: JustForex uses Secure Socket Layer (SSL) encryption to protect client information and transactions. This ensures that client data is encrypted and protected from unauthorized access.
- Two-Factor Authentication: JustForex offers two-factor authentication (2FA) for client accounts, which adds an extra layer of security to the login process. This helps prevent unauthorized access to client accounts.
- Anti-Money Laundering (AML) Policy: JustForex has a strict AML policy in place to prevent the use of its services for illegal activities. This policy requires clients to provide proof of identity and to comply with strict anti-money laundering rules and guidelines.
Overall, JustForex takes several measures to ensure the safety and security of its clients’ funds and personal information. The regulatory oversight, segregation of client funds, SSL encryption, two-factor authentication, and AML policy are all measures that contribute to the safety and security of clients’ accounts.
JustForexTrading Platforms
JustForex offers its clients two popular trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
MetaTrader 4 (MT4) is one of the most popular trading platforms in the industry, and it is widely used by traders of all levels of experience. MT4 offers a user-friendly interface and a range of features and tools that allow traders to analyze the markets, execute trades, and manage their positions.
Some of the features of MT4 include:
- Advanced charting tools and technical analysis indicators
- Customizable trading strategies with Expert Advisors (EAs)
- One-click trading and multiple order types
- Mobile trading via the MT4 mobile app
- Multi-language support
MetaTrader 5 (MT5) is the latest version of the MetaTrader platform and is a more advanced trading platform than MT4. MT5 offers additional features and tools, including more advanced charting tools, an economic calendar, and a built-in strategy tester.
Some of the features of MT5 include:
- Advanced charting tools and technical analysis indicators
- Multiple order types and hedging options
- Economic calendar and news alerts
- Built-in strategy tester and optimization tools
- Mobile trading via the MT5 mobile app
- Multi-language support
Both MT4 and MT5 are available on desktop, web, and mobile platforms, allowing traders to access their accounts and trade from anywhere in the world at any time.
Products JustForex provides
JustForex provides a range of products for online trading, including:
- Forex: JustForex offers trading in more than 80 currency pairs, including major, minor, and exotic pairs.
- Cryptocurrencies: JustForex provides access to trading in a range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple, among others.
- Metals: JustForex offers trading in precious metals such as gold, silver, platinum, and palladium.
- Energies: JustForex provides access to trading in popular energy products such as crude oil and natural gas.
- Indices: JustForex offers trading in a range of global stock indices, including the S&P 500, NASDAQ, FTSE, and DAX, among others.
- Stocks: JustForex provides access to trading in a range of global stocks, including popular tech stocks such as Apple, Facebook, Amazon, and Google.
All of these products can be traded using either MetaTrader 4 or MetaTrader 5, which are available on desktop, web, and mobile platforms. JustForex also offers a demo account for traders to practice their trading strategies before trading with real money.
JustForex account types
JustForex offers a range of account types to cater to the needs of different traders. The account types differ in terms of minimum deposit, spreads, commissions, and other features. The account types offered by JustForex include:
- Standard Account: The Standard Account is the most basic account type offered by JustForex. It requires a minimum deposit of $10 and offers floating spreads from 1.0 pip and no commissions. It is suitable for beginner traders who are just starting in the forex market.
- Pro Account: The Pro Account is designed for more experienced traders who require tighter spreads and faster execution speeds. It requires a minimum deposit of $100 and offers floating spreads from 0.0 pips and a commission of $4 per lot.
- ECN Zero Account: The ECN Zero Account is designed for traders who require the lowest spreads possible. It requires a minimum deposit of $500 and offers floating spreads from 0.0 pips and a commission of $20 per lot.
- Crypto Account: The Crypto Account is designed for traders who want to trade in cryptocurrencies. It requires a minimum deposit of $10 and offers floating spreads from 1.0 pip and no commissions.
- Cent Account: The Cent Account is designed for traders who want to trade with smaller amounts. It requires a minimum deposit of $0.10 and offers floating spreads from 1.0 pip and no commissions.
- Islamic Account: JustForex also offers Islamic Accounts for traders who follow the Shariah law. Islamic Accounts operate without swaps, which makes them suitable for traders who want to avoid interest charges.
All of the account types offered by JustForex are available on both the MetaTrader 4 and MetaTrader 5 platforms. Additionally, JustForex offers a demo account for traders to practice their trading strategies before trading with real money.
JustForex trading fees
JustForex operates on a variable spread model, which means that the spreads for each instrument can vary depending on market conditions. The spreads are generally competitive and start from 0.0 pips on some account types, with the average spread on the Standard Account being around 1.2 pips for major currency pairs.
JustForex charges commissions on some of its account types, namely the Pro Account and the ECN Zero Account. The commission on the Pro Account is $4 per lot, while the commission on the ECN Zero Account is $20 per lot.
JustForex does not charge any deposit or withdrawal fees. However, traders should note that their bank or payment provider may charge fees for transactions.
In addition to trading fees, JustForex may also charge inactivity fees on accounts that have been inactive for a certain period of time. The inactivity fee is $5 per month and is charged after 180 days of account inactivity.
Traders should also note that there may be additional fees for overnight positions and rollovers, depending on the instrument being traded and the account type. These fees can be viewed in the trading platform or on the JustForex website.
JustForex Funding and Withdrawal Options
JustForex provides a range of funding and withdrawal options for traders. The available options may depend on the trader’s country of residence and the currency of their trading account.
Deposit Options:
- Bank Wire Transfer
- Visa and MasterCard credit/debit cards
- Skrill
- Neteller
- Perfect Money
- FasaPay
- Local Deposits (available in select countries)
JustForex does not charge any deposit fees. However, traders should note that their bank or payment provider may charge fees for transactions.
Withdrawal Options:
- Bank Wire Transfer
- Visa and MasterCard credit/debit cards
- Skrill
- Neteller
- Perfect Money
- FasaPay
JustForex does not charge any withdrawal fees. However, traders should note that their bank or payment provider may charge fees for transactions.
Processing Time:
- Bank Wire Transfer: 1-5 business days
- Credit/Debit Cards: up to 3 business days
- Skrill, Neteller, Perfect Money, FasaPay: instant
Traders should note that the processing time may vary depending on the payment provider and the trader’s bank. Additionally, JustForex may require additional documentation for withdrawals, such as a copy of a government-issued ID and proof of address.
It is important to note that JustForex only processes withdrawals to the same payment method used for the deposit. For example, if a trader deposits via Skrill, the withdrawal will be processed back to the same Skrill account.
JustForex’ promotions
JustForex offers various promotions and bonuses to its clients from time to time. These promotions may include:
- Welcome Bonus: JustForex offers a welcome bonus of up to 115% on the first deposit. The bonus amount depends on the deposit amount and is credited to the trader’s account upon fulfilling certain conditions.
- Deposit Bonus: JustForex offers deposit bonuses on subsequent deposits made by traders. The bonus amount depends on the deposit amount and is credited to the trader’s account upon fulfilling certain conditions.
- Trading Contests: JustForex regularly hosts trading contests where traders can compete with each other to win prizes.
- Rebate Program: JustForex offers a rebate program where traders can earn cashback on their trades.
- Partner Program: JustForex offers a partner program where individuals and companies can refer clients to JustForex and earn commissions on their trading activity.
It is important to note that promotions and bonuses may be subject to terms and conditions, which may include trading volume requirements, time limits, and other restrictions. Traders should carefully read and understand the terms and conditions before participating in any promotions or bonuses.
JustForex customer support
JustForex provides customer support through multiple channels, including:
- Live Chat: Traders can use the live chat feature on the JustForex website to get quick answers to their questions. The live chat is available 24/7.
- Email Support: Traders can email their queries and concerns to the support team at support@justforex.com. The support team usually responds within 24 hours.
- Phone Support: Traders can call the customer support team at +371 67 881 045. The phone lines are open from Monday to Friday, 9:00 to 18:00 (GMT+3).
- Knowledge Base: JustForex provides a knowledge base on its website that includes articles and tutorials on various trading topics. Traders can use the knowledge base to learn more about trading and to find answers to common questions.
- Social Media: JustForex maintains an active presence on social media platforms such as Facebook, Twitter, and Instagram. Traders can use these channels to get in touch with the support team or to stay updated on the latest news and promotions from JustForex.
Overall, JustForex provides multiple channels of customer support that are available around the clock to assist traders with their queries and concerns.
JustForex Educational Resources
JustForex provides a range of educational resources to help traders improve their knowledge and skills in trading. These resources include:
- Forex Basics: JustForex provides a section on its website that covers the basics of forex trading, including topics such as trading terms, order types, and trading platforms.
- Video Tutorials: JustForex provides a library of video tutorials that cover a range of trading topics, including technical analysis, fundamental analysis, and trading strategies.
- Webinars: JustForex hosts regular webinars that cover various trading topics, including market analysis, trading strategies, and risk management. Traders can register for these webinars on the JustForex website.
- Trading Signals: JustForex provides free trading signals to its clients, which are generated by a team of experienced analysts. Traders can use these signals to inform their trading decisions.
- Economic Calendar: JustForex provides an economic calendar that includes upcoming economic events and data releases. Traders can use this calendar to stay informed about market-moving events and to plan their trading strategies accordingly.
- Forex Glossary: JustForex provides a comprehensive forex glossary that includes definitions of common trading terms and concepts.
Overall, JustForex provides a range of educational resources that can help traders of all levels improve their trading skills and knowledge.
Pros and cons of JustForex
Pros:
- Multiple account types: JustForex offers several different account types, including demo, cent, mini, standard, ECN zero, and crypto. This allows traders to choose an account that fits their needs and budget.
- Wide range of products: JustForex offers a variety of trading products, including forex, metals, indices, cryptocurrencies, and more.
- Low minimum deposit: JustForex has a low minimum deposit requirement of just $1 for some account types, making it accessible to traders with limited funds.
- High leverage: JustForex offers high leverage of up to 1:3000, which can increase potential profits for traders.
- Multiple funding options: JustForex offers a variety of funding options, including bank transfers, credit/debit cards, e-wallets, and cryptocurrencies.
- Customer support: JustForex provides customer support through multiple channels, including live chat, email, phone, and social media.
- Educational resources: JustForex offers a range of educational resources, including video tutorials, webinars, and a forex glossary, which can help traders improve their knowledge and skills in trading.
Cons:
- Limited regulation: JustForex is regulated by the IFSC in Belize, which may not provide the same level of investor protection as other regulatory bodies.
- Limited research tools: JustForex does not provide as many research tools as some other brokers, such as in-depth market analysis or trading signals.
- Limited trading platforms: JustForex only offers two trading platforms, MetaTrader 4 and MetaTrader 5, which may not be suitable for traders who prefer other platforms.
- Limited customer support: Although JustForex provides customer support through multiple channels, it is not available in all languages.
- Withdrawal fees: JustForex charges withdrawal fees for some withdrawal methods, which can be a disadvantage for some traders.
It is important to consider these factors carefully and to conduct thorough research before choosing a broker.
Frequently asked questions about JustForex
Is JustForex regulated?
Yes, JustForex is regulated by the International Financial Services Commission (IFSC) in Belize.
What trading platforms does JustForex offer?
JustForex offers two trading platforms, MetaTrader 4 and MetaTrader 5.
What products can I trade with JustForex?
JustForex offers a range of trading products, including forex, metals, indices, cryptocurrencies, and more.
What are the minimum deposit requirements for JustForex?
The minimum deposit requirement for JustForex varies depending on the account type, but it can be as low as $1 for some account types.
What is the maximum leverage offered by JustForex?
JustForex offers high leverage of up to 1:3000.
What funding options are available for JustForex accounts?
JustForex offers a variety of funding options, including bank transfers, credit/debit cards, e-wallets, and cryptocurrencies.
What customer support options are available for JustForex clients?
JustForex provides customer support through multiple channels, including live chat, email, phone, and social media.
Does JustForex offer educational resources for traders?
Yes, JustForex offers a range of educational resources, including video tutorials, webinars, and a forex glossary.
Is there a demo account available for JustForex?
Yes, JustForex offers a free demo account that allows traders to practice trading with virtual funds.
What are the fees and processing times for withdrawals with JustForex?
The fees and processing times for withdrawals with JustForex depend on the withdrawal method. Some methods may have fees, and processing times can vary from a few hours to several days.
