JustForex has a lot to offer. They boast no minimum deposits for three of their accounts, extremely low and reasonable commissions, minimal tight spreads on trading pairs (as low as zero pips on one account type), the capability to utilize any trading strategies, and quick funds’ withdrawal. In this review, we will consider all of the product and service offerings that together contribute to this being a top-rated Forex trading firm and option to help you execute your own trading strategies.
Like many Forex trading firms, JustForex is tight lipped about the individual or people behind the company. We can say that they are based in two unlikely spots in the Caribbean Sea— St. Vincent and the Grenadines and Belize. From these tropical climate operating centers, they claim to have earned the custom of clients hailing from over 197 nations. If this is true then JustForex stands among the leading brokers in the world for popularity and geographic distribution of members.
Despite this global popularity though, they do not accept either entities or residents from the United States as clients under any circumstances. Those extra-American nationals who are more fortunate can count on up to 3,000 to one in leverage on trades, obtaining tight spreads, and having access to all of the breaking market news and economic calendar announcements that JustForex so amply delivers.
In short: it is NOT a scam. JustForex has an impressive collection of stats that confirm more than just their legitimacy. These are enviable retention rates by anyone’s measure:
JustForex is a Forex trading firm for its clients. They do not offer their own proprietary trading platforms, but instead rely on industry stalwart MetaTrader4 as a trading portal. They do allow for robots or so-called advisers, but they do not supply them. This is common with most competing Forex trading outfits, including IQ Option and Plus500 as well.
JustForex is big on account products and aggressively priced services for account holders. These include the following advantages when you choose them to be your Forex brokerage:
Next we look at some of these products and features in more detail.
The trading platform is a critical part of any Forex firm. JustForex utilizes MetaQuotes’ MetaTrader 4. Released back in 2005, MT4 remains among the top-rated and -utilized platforms for trading Forex. Even newer trading platforms have not succeeded in overthrowing its following.
MT4 boasts a helpful and consistently strong interface. It allows you to open, manage, and monitor your positions and trading accounts. The platform easily supports trading tools, expert advisers, and indicators of real-time analysis of markets. You can even design and develop your own proprietary instruments to share with others who are trading. MetaTrader 4 also has a strong and stable phone app you can utilize to keep on top of your JustForex account trades while you are away from your home computer screen.
Analytics are a strong feature from JustForex. They showcase all of the following offerings with the service:
JustForex features a heavy emphasis on education as with rival Forex Gurus like Toshko Raychev. They offer each of these four educational tools to their members:
In their world currencies’ listing they give some interesting facts about the top few Forex pairs. The U.S. dollar remains the top trading instrument at 88 percent while the euro (EUR) is still second at 31 percent of all Forex trades. The currencies rounding out the top five include the British pound sterling (GBP), Australian dollar (AUD), and Canadian dollar (CAD). This kind of added information is helpful for people just getting started trading the exciting world of foreign exchange, and we like that they provide it.
Technical and customer support is crucial with the almost non-stop trading environment of Forex. JustForex does not skimp in this important component. They offer English language support 24 hours per day, seven days per week, and also provide Indonesian language support from 7 am to 11 pm Mon-Fri and Malaysian language support from 8 am to 12 am Mon-Fri.
Besides these international phone numbers and access to help on the telephone, they also offer email, callbacks, and live chat. For customers in countries where they do not have an inexpensive way to phone in for customer support, the company supports messengers including Skype, Whatsapp, Viber, Telegram, Messenger, and Line. All of this combines to give them one of the most exhaustive customer support departments we have seen in the Forex and stock trading businesses anywhere.
JustForex is straight forward and involves minimal hassle to get started as a new trading client. It is a matter of following these steps below.
JustForex offers several different types of accounts:
Standard accounts are the most popular ones. They provide you with all needed options sets as well as the impressive 3,000 to 1 leverage found in the Mini Account while offering highly competitive spreads of a mere .1 pips with no commission costs. You can set take profit and stop loss orders while opening a position and after establishing it with these accounts. Standard accounts are ideal for trading within a single day using daily charts, and there are no restrictions for trading strategies with these Standard Accounts.
The firm also offers a true Islamic Account for those traders practicing the Islamic faith. As Shariah law outlaws any trading with swaps, the firm developed a few trading accounts that are swap-free to expand Forex trading to these traders. Swap free accounts allow the account holders to maintain their open positions indefinitely without any interest changing hands.
Funding the account is necessary to start trading in all cases except for the demo account. JustForex allows account funding via a variety of means. These include the following:
They also accept wire transfers from a variety of local Malaysian and Indonesian banks.
The company also has bonus programs in place. As with all of these deposit bonuses that some options trading firms allow, there are many often-complex rules and restrictions. At JustForex, they offer 100 percent deposit bonuses on funds as high as $20,000 USD. All deposits that are at least $100 will be doubled. While profits can be withdrawn at any time (on bonus money), bonuses are only allowed to be withdrawn after all bonus rules are met. All methods of deposit are eligible to participate in the bonus program.
Three out of four of the primary accounts with JustForex do not charge commissions. Account holders of the ECN Zero accounts do pay commissions, but they have 0 pip trading spreads in trade off. Spread amounts vary widely from one account type to the next.
On Cent and Mini Accounts they are .3 pips, on Standard Accounts these are .1 pips, and finally on ECN Zero accounts spreads are eliminated. JustForex does not provide details on how long withdrawals take to process. As they are cutting-edged technologically in so many ways, we do not expect it would take onerously long to pull out money that you deposited or profits made on bonus or real money.
JustForex bills itself as the most international of Forex account operators, and this could be true. With traders around the world and a heavy emphasis on Asian-based traders, they offer an impressive level of customer service 24/7 in far flung locations around the globe. The 90 tradable assets is not the largest list, but for traders who are not looking to get too creative, the service with its five different levels of accounts should be more than sufficient for their trading needs.