Table of contents:
- 1 About JustForex
- 1.1 JustForex: Fraud or not?
- 1.2 Everything in order with security and regulation
- 1.3 The JustForex offer
- 1.4 Accounts with different conditions and leverage ratios
- 1.5 These currency pairs and instruments are available
- 1.6 Social Trading also possible
- 1.7 Currently no bonus at JustForex
- 1.8 Deposits and withdrawals – there are many possibilities
- 1.9 English language telephone support
- 1.10 User-friendly structure of the site
- 1.11 Mobile trade is of course also possible
- 1.12 Conclusion
- 1.13 What payment methods are available?
- 1.14 What account types are offered?
- 1.15 What Trading platforms are available?
- 1.16 How is JustForex regulated?
JustForex user-ratings: $1
Asset varierity - 7.5/10
Trading platform - 8/10
Support - 10/10
Fees - 10/10
Deposit/Withdrawal - 10/10
Facts about the company:
- Type: Forex and CFD Broker
- Regulation: IFSC (Belize)
- Minimum deposit: $1
- Demo account: Free
- Markets: 170+ Forex, CFDs, Currencies
- Spreads from 0.0 pips
- Leverage up to 1:3000
- Order execution from 0.01 s
- Bonus options are available
- 24/7 customer support
- Deposit without commission
Overall, we have had very positive experiences with JustForex. What stands out at first glance is above all a very favorable cost structure and the possibility of entering into trading even with very small amounts. For this reason, JustForex is particularly suitable for beginners and novices who want to try out currency trading with low risk.
Traders need experience at the latest when they enter into trading with larger amounts, where the leverage of up to 1:3000 can be used. A free demo account is also available for beginners. The specific values that can be traded depending on the selected account. The offer comprises a total of 85 currency pairs and two precious metals.
|address||No. 1 Orchid Garden street, PO Box 445, Belmopan, Belize|
|Registration number||IFSC / 60/241 / TS / 17|
|regulation||Belize International Financial Services Commission|
|phone||+371 67 881 045|
In our test, we would now like to put this Forex broker through its paces. In addition to the trading possibilities and the conditions offered by the individual accounts, we also want to take a look at the available leverage. Furthermore, we would like to present which currency pairs as well as which currencies in general can be traded at JustForex. An important aspect for customers of online brokers in Forex trading is also the modalities that apply to deposits and withdrawals. We also want to pay special attention to the area of security and regulation. Other aspects that played a role in the test are contact possibilities and support, the user-friendliness of the software, and the possibilities for trading via mobile devices.
JustForex: Fraud or not?
We would like to start by answering the question of whether traders should expect rip-offs and fraud from this provider. Unfortunately, in this still relatively young industry, it is not always possible to tell at first glance how reliable the company is. There are several points that should be considered in this context. First of all, the location of a provider is important, as well as the question of whether a license is available there and whether state regulation can be relied upon. This can be answered positively in the case of JustForex, although Belize is not a location in the EU. However, the state of Belize is considered stable and reliable in the control of economic activities.
In addition, industry observers also regard the extent to which an online broker is integrated into networks and works with internationally recognized payment providers as an important indicator of its reliability. Here, clients can rely on the best addresses worldwide, among others, JustForex cooperates with the credit card providers Visa and MasterCard, as well as with internationally renowned banks. Another argument in favor of JustForex is the fact that no negative reports have come to light to date.
Everything in order with security and regulation
A very important issue for every trader is the question of the seriousness of the provider as well as the security of his deposits. In our opinion, the provider can be considered serious, as there is a regulation in place in Belize. In addition, JustForex also works with reputable banks, so that a certain degree of control over the company can be assumed. A total of 18 international banks provide the necessary liquidity for trading. In this context, the online broker JustForex also points out that well-trained financial experts are employed to ensure the smooth processing of trading and all transfers.
Another important question is how customer deposits are protected. Here, the practice of serious online brokers to manage the customers’ funds separately from the financial resources of the company has become established. This is the only way to ensure that customer funds continue to be protected in the event of the provider experiencing payment difficulties. This practice is also followed by JustForex, so that the traders do not need to worry about fraud or rip-offs in this respect either.
The JustForex offer
Now the offer is to be examined more closely. As already mentioned, the online broker has specialized in trading with foreign exchange. A quite wide range of pairs can be offered for trading, whereby very favorable conditions apply and impressively high leverage can be used. The offer for trading as well as the conditions initially differ slightly, depending on the account chosen. It also depends on the account, which levers can be used and which spreads can be expected in trading. In principle, the decision for the optimal account depends primarily on the amount of money you want to trade with. In principle, however, it is also possible to switch between accounts at any time.
Accounts with different conditions and leverage ratios
Including the free demo account, you can choose between a total of five accounts. The demo account for the risk-free gathering of experience in Forex trading can be used free of charge but is available for a maximum of 90 days.
Traders who choose the Standard account model can expect even more favorable conditions. The minimum deposit here is 1US dollars. For those traders who can use a leverage of 1:3,000, this solution offers the advantage of favorable spreads, which start at 0.1 points in average trading. From a minimum deposit of 100 US dollars, the so-called Pro and Raw Spread accounts can be opened. Here the traders trade at the market spreads and only have to pay a small commission. This model is worthwhile for traders who want to enter the market with higher sums.
These currency pairs and instruments are available
It depends on the selected account with which currency pairs can be traded. The widest choice is the standard account. Here a total of 84 currency pairs as well as the precious metals gold and silver are available for trading. The four most important currencies worldwide are of course the US Dollar, Euro, Japanese Yen, and the British Pound. In addition, the available combinations also include the currencies of Switzerland, Scandinavian currencies, the Russian rouble, and the South African rand. The portfolio also includes the major dollar currencies of Singapore, Canada Hong Kong, and Australia. The range is rounded off by some Eastern European currencies, such as the forint from Hungary, the zloty from Poland, and the Czech koruna.
In addition, numerous instruments and strategies such as scalping or moving average can be implemented in trading. Traders can also use the most important order types, such as stop loss, take profit, or the trailing stop. The conditions are favorable, the spread in the case of the standard account in trading with the important currency pair US dollar vs. euro ranges between 0.1 and 1.1 points.
Social Trading also possible
At JustForex, traders also have the opportunity to try their luck in social trading. On the one hand, numerous top traders offer their strategies. With any amount of money, traders without any experience can follow such a top trader. As a second option, JustForex offers its clients the transmission of MQL5 signals. There is a wide range of signal transmitters to choose from, with a wide variety of trading strategies on offer. Thus, on the one hand, it is possible to profit from successful strategies even without special experience in this segment. Furthermore, it is possible to build up your own expertise and experience step by step in order to develop and implement your own strategies.
Currently no bonus at JustForex
Bonus has always played an important role in the field of online brokers. With this, providers try to gain an advantage over other online brokers. Especially the so-called welcome bonus has established itself. Here, customers who register for the first time and deposit an amount for trading are offered additional capital. However, this bonus capital can be used for trading, but it can only be paid out once the corresponding turnover has been achieved.
Against this background, there has been a long-standing discussion among traders as to the extent to which such a bonus represents an actual advantage. Critics point out that the terms and conditions associated with such a bonus primarily motivate the trader to invest more money and to trade riskier. Proponents see in the additional capital above all better opportunities and chances of profit. When assessing the bonus, every trader must form his own opinion. However, in the case of this online broker, there are various promotion offers available that traders can choose from
Deposits and withdrawals – there are many possibilities
Important from every trader’s point of view is the question of how to manage deposits and withdrawals. As an internationally positioned online broker, JustForex offers its clients a very wide range of different methods. These are nevertheless subject to specific conditions. First, the credit card can be used for deposits. The most important providers, i.e. Visa and MasterCard, are accepted. In addition, several online services can also be used to capitalize on the account for trading. The providers include WebMoney, Skrill, and Neteller. When depositing by credit card, the money is available on the account immediately after the transaction is completed. With other methods, it may take up to an hour before the money can actually be traded.
In principle, the same methods that are available for deposits can also be used for withdrawals of capital. In general, however, as with most online brokers, the rule applies that the same method must always be used for payouts as was used for deposits. While no fees are charged for deposits, fees must be considered for withdrawals depending on the method used. For withdrawals by credit card, these fees are 2.4 percent of the transaction volume. For Skrill, a fee of one percent of the payout amount must be taken into account. In contrast, the Skrill service is available free of charge for payouts. There are no significant restrictions on the number of deposits and withdrawals. Transactions can be carried out from one US Dollar or one Euro.
English language telephone support
There are several possibilities for direct support from the team. Anyone who has questions about the JustForex offer can contact the broker via a telephone hotline.
There is also a separate department with its own telephone number for handling financial transactions. These offers are available in English, as is the FAQ section. Here, all important questions concerning the JustForex offer are summarized in a clear and concise form.
|Telephone:||+371 67 881 045|
+44 1418 461237
User-friendly structure of the site
Overall, the online presence of JustForex has left a positive impression. The structure is very clear and allows clients to quickly navigate to the content they are interested in. The conditions that apply to the individual accounts are presented in an absolutely clear and transparent manner. There is also very open and detailed information on the topics of security and regulation. Absolutely user-friendly is also the software offer, which is used for the actual trading. Here, JustForex relies on MetaTrader 4 and 5, the trading software that has established itself as an important standard for online trading for years.
Mobile trade is of course also possible
Of course, JustForex also offers its clients the opportunity to participate in mobile trading. For this purpose, a free JustForex app is offered, which is based on MetaTrader 4. All functions that are available via regular trading on the desktop PC can also be used via the mobile device. A version for both iOS and Android is available for free download.
With JustForex, traders are choosing an online broker that is fully specialized in trading Forex products. The target group includes both beginners and experienced traders. Depending on requirements, trading can be carried out via different accounts that offer different conditions. In the standard version, 84 currency pairs as well as gold and silver are available for trading. JustForex convinces with very fast and precise processing of all transactions as well as very favorable conditions. Also with regard to security and reliability, we were able to establish an absolutely solid standard during our test.
Most asked questions:
What payment methods are available?
Making a deposit or the withdrawal of money is possible with various payment methods such as credit card, VISA, MasterCard, e-Wallets like Neteller and many more.
What account types are offered?
When trading with JustForex, three trading accounts are offered starting from a minimum deposit of $1 with the standard account. Moreover, there is a pro account and raw spread account available. Each have a minimum deposit of $100.
What Trading platforms are available?
With JustForex traders will trade with the most popular platforms MetaTrader 4 and MetaTrader 5. Both can be used via computer, WebTrader as well as the mobile version.
How is JustForex regulated?
JustForex is regulated by Belize and the FSA. Both are serious and trustworthy institutions. Traders can be sure, that the broker is transparent and reliable.