JustForex Review

Author By Jeffrey Cammack
Updated: March 1, 2021
Overall Rating
3.83 3.83 / 5
Rated #38 of 59 Recommended Brokers
Min. Deposit
USD 1
Regulators
Trading Desk
Trading Cost
USD 3
Website Language
English
Support Language
English
AlertAccepts South African Clients. Average spread EUR/USD 0.30 pips on trading account with lowest minimum deposit of 1 USD. Max leverage 3000:1. Islamic account available. MT4/MT5 platform supported. JustForex is not regulated.

Summary

An STP, JustForex offers four live accounts and an unlimited demo account, with excellent trading conditions.  Tight variable spreads, minimum deposits as low as  1 USD, and high leverage make it a favourable choice for traders of all experience levels.  Education and market research materials are also relatively in-depth and well-structured, and JustForex offers support for MT4, MT5 trading platforms.  JustForex also denominates accounts in ZAR.

Traders should be aware that JustForex is based in Saint Vincent and the Grenadines, which lacks a regulatory authority.  Traders will have no legal protection and any claim JustForex makes regarding its operations or trading statistics cannot be verified. In the event of a dispute, it may be difficult for traders to claim back their money. 

Reviews

Regulation
100001/ 5
Trading Conditions
111115/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
111104/ 5
Education & Research
11110.54.5/ 5
Assets Available
11110.54.5/ 5
Customer Service
11110.54.5/ 5
Beginner Friendly
Excellent
Bonuses
115% Deposit Bonus on every deposit of 500 USD or more

Account Information

Base Currencies
USD, EUR, GBP, JPY, MYR, IDR, THB, VND, KWD, CNY, ZAR
Number of FX Pairs
65
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Min. Spread
0 pips
Commission
Fees Included in Spread
EUR/USD
0.0 pips
GBP/USD
0.2 pips
USD/JPY
0.1 pips
Max. Leverage
3000:1

Company Details

Company Name
JF Global Limited
Founded
2012
Office Locations
Saint Vincent

Is JustForex Safe?

Founded in 2012 and headquartered in St. Vincent and the Grenadines, JustForex is completely unregulated.  See below for registration details:  

  • JF Global Limited, Suite 305, Griffith Corporate Centre, PO Box 1510, Beachmont Kingstown, St. Vincent and the Grenadines, registration number 23993, registered by the Financial Services Authority (FSA).

JustForex clients’ funds are deposited in segregated bank accounts, and it offers negative balance protection, which means that clients can lose all but not more than the balance of their trading account. While JustForex offers these protections to its clients of its own accord, its activities are not monitored, and it is not subjugated to regular operational audits.

While JustForex has been operating since 2012 and has many satisfied customers, it is important to note that trading with an unregulated broker carries extreme risk. As unregulated brokers have no governmental oversight, any statements they make regarding their operations cannot be verified.  Furthermore, many countries do not recognize JustForex as a legitimate broker. 

JustForex Segregated Accounts

JustForex’s Trading Conditions

JustForex is an STP with three live commission-free accounts, except for the Raw Spread Account, on which a commission of 3 USD per lot/side is charged.  Hedging, scalping, netting, and copy-trading are allowed on all accounts.  The minimum deposit is 1 USD, and all accounts have a leverage of up to 3000:1, except the Standard Cent Account.  The Margin Call on all accounts is at 40%, Stop Out levels are at 20%.

JustForex offers Islamic Swap-free options on all accounts and charges an inactivity fee of 5 USD per month after 150 days of inactivity.

JustForex Accounts

Standard Cent Account

On this account, trading is denominated in US Cents.  The minimum deposit is 1 USD, leverage is up to 1000:1, spreads are tight – starting at 0.3 pips – and no commission is charged.  Note that lots are measured as 1,000 USD, and minimum transaction orders are 0.01 cent lots.

Standard Account

The minimum deposit on the Standard Account is 1 USD. These accounts are commission-free and accounts can be denominated in USD, EUR, GBP, and ZAR.  Leverage is high, up to 3000:1, spreads start at 0.30 pips, and the minimum transaction is 0.01 lots.

Pro Account

The minimum deposit on the Pro Account is 100 USD.  Spreads start at 0.10 pips, leverage is 3000:1, and accounts can be denominated in 11 currencies, including ZAR.  Pro accounts are commission-free and the minimum order is 0.01 lots.

Raw Spread Account

Raw Spread accounts are ECN accounts, on which a commission is charged – 3 USD per lot/side.  The minimum deposit on this account is 100 USD, leverage is 3000:1, spreads start at 0 pips, and accounts can be denominated in 11 currencies, including ZAR.

Demo Accounts

JustForex allows traders to test their strategies by opening a free demo account. Demo trading is a simulation of real Forex trading.  Traders are given a virtual currency balance of 5,000,000 USD and an unlimited time to gain experience on the Metatrader platforms, using all account options without the risk of losing real money. 

Scroll for more detailsPreviousNext
Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
Pro
USD 100
3000:1
0.10
None
Account Details
Raw Spread
USD 100
3000:1
0
6 USD/lot
Account Details
Standard
USD 1
3000:1
0.30
None
Account Details
Standard Cent
USD 1
1000:1
0.30
None
Account Details

Spreads and Commissions

JustForex’s spreads are some of the tightest in the industry, starting between 0 and 0.30 pips depending on the account.  Most accounts are commission-free, only the Raw Spread account charges a commission of 3 USD per lot/side.

Deposits and Withdrawals

Although JustForex is unregulated, it states that all anti-Money Laundering rules and regulations are followed.  Deposits can only be made using a bank account or card registered in the trader’s name, and no third-party deposits are allowed.  Withdrawals must be made to the same account or method that the funds originated. 

JustForex does not charge deposit or withdrawal fees except on cryptocurrencies and for withdrawals via bank transfer.  Most deposits are instant, but JustForex takes one to two hours to process withdrawals.  JustForex offers the following methods for deposits and withdrawals:

  • Bank Wire Transfers – Deposits are instant and free. Withdrawals are free, but bank charges apply and can take up to three to six bank days to reflect.
  • Local Bank Transfers – Deposits are instant and free. Withdrawals are free but may take one to two hours to be processed.
  • Debit/Credit card – Deposits are instant and free. Withdrawals are free, and withdrawals can take up to three days to be processed.
  • Worldwide Wallets (Skrill, Neteller, Perfect Money & Sticpay) – Deposits are instant and free. Withdrawals are free but may take one to two hours to reflect.
  • Cryptocurrencies (Bitcoin, Bitcoin Cash, Ethereum, Tether, USD Coin) – Deposits are charged at 1% and may take one to three hours to reflect. JustForex charges a Blockchain fee for withdrawals, and they may take one to two hours to be processed. 
  • Local Wallets (Fasapay, Doku Wallet, Alipay, bitwallet) – Deposits are free and instant. Withdrawals are free and take between one to two hours to reflect.

Bonus Structure

  • All Standard Cent, Pro, Standard accounts clients receive a 50% bonus on a deposit of up to 100 USD and more.
  • All Pro, Standard accounts clients receive a 100% bonus on a deposit of 100 USD and more.
  • All Pro, Standard accounts clients receive a 120% bonus on a deposit of 500 USD and more.
Bonuses are only available on the first deposit. See the broker’s website for other offers.

JustForex for Beginners

JustForex has a wide range of educational and up-to-date market analysis materials to get traders started.   It also boasts unlimited demo accounts and a responsive customer service team available 24/7 for all client-related and technical queries. 

Educational Materials

JustForex provides beginner traders with various educational materials, including training webinars, educational videos, a glossary of terms, and an array of articles.  The materials are well-organized and well-structured.

Market Analysis Material

JustForex provides an up-to-date Market Overview, Market News, and technical analysis in addition to daily forecasts and an Economic calendar.   

Customer Support

JustForex offers support in five different languages, including English, Malaysian, Indonesian, Russian and Chinese.  Help is available 24/7 (only in English) and during business hours for Indonesian and Malaysian via telephone, email, messenger, and live chat.  JustForex also offers a call-back option. 

For the purposes of this review, we found customer service responsive but inaccurate.

Trading Platforms

JustForex offers support for the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.  As the most widely used platforms on the market, they are simple to navigate yet offer a powerful range of features, charts, and analysis tools. MetaTrader allows immediate and accurate access to international financial markets and delivers feature-rich, user-friendly interfaces designed to fulfill all trading needs and boost trading performance.

MetaTrader 4

MT4 was developed in 2005 and is still considered one of the best trading platforms on the Forex market.  MT4 allows one to make money on Forex with a consistent and useful interface.  It supports indicators, expert advisers, and other tools for real-time market analysis. One can also create instruments and share them with other traders.

JustForex MT4MetaTrader 5

MetaTrader 5 is the latest trading platform developed by MetaQuotes Software Corp. Set to replace MT4, MT5 is more intuitive and offers significant improvements in copy trading, mobile trading, and other innovative features that make trading account management more efficient. The MT5 dashboard supports 38 technical indicators, 44 graphical objects, 21 timeframes, one-click trading, built-in depth of market widgets, and an economic calendar.

JustForex MT5

Mobile Apps

Users can download and access MT4 and MT5 on Windows PC, Webtrader, Android, and iOS.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of how we review JustForex’s product offering. Central to that process is the evaluation of the broker’s reliability, the platform offering of the broker, and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Risk Warning

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. JustForex would like you to know that: Trading on the Forex market is connected with risk.  Investments can fall and rise. You may get back less than you invested. Past performance is no guarantee of future results. Clients should be aware that trading through JustForex carries a high risk of losing money on the Forex market.

Overview

An STP, JustForex offers excellent trading conditions and support for the MT4 and MT5 platforms.  It has also received many positive customer reviews and its educational and market analysis materials are well-structured and organized.

One major drawback for traders considering JustForex is that it is unregulated. However, JustForex claims that client funds are placed in segregated bank accounts and that all customers are offered negative balance protection. 

JustForex states that it is one of the most popular brokers in Asia. It also states that it serves millions of clients in 197 countries. 

AlertAccepts South African Clients. Average spread EUR/USD 0.30 pips on trading account with lowest minimum deposit of 1 USD. Max leverage 3000:1. Islamic account available. MT4/MT5 platform supported. JustForex is not regulated.
Scroll for more detailsPreviousNext
Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
1110.503.83/ 5
USD 1
STP
Equities
Forex
WTIs
Cryptocurrencies
Futures
65
7
    • Not properly regulated
    • Limited education
    • Limited market analysis
    • Extreme leverage
    100001/ 5
    111115/ 5
    11110.54.5/ 5
    111104/ 5
    11110.54.5/ 5
    11110.54.5/ 5
    11110.54.5/ 5
    0 of retail investor accounts lose money when trading CFDs with this provider
    3000:1
    0 pips
    Pro
    Raw Spread
    Standard
    Standard Cent
    Bank Transfer
    Mastercard
    Visa
    Neteller
    SticPay
    PerfectMoney
    Fees Included in Spread
    1110.503.32/ 5
    USD 150
    ECN/DMA
    Commodities
    Forex
    Equities
    110
    2
    • Wide range of assets
    • Copy trading accounts
    • Limited market analysis
    • Limited education
    • Wide spreads
    1110.503.5/ 5
    110002/ 5
    111104/ 5
    111104/ 5
    111003/ 5
    1110.503.5/ 5
    111104/ 5
    71.71% of retail investor accounts lose money when trading CFDs with this provider
    30:1
    0 pips
    Cent.Eurica
    Cent.Standard
    Insta.Eurica
    Insta.Standard
    Islamic
    Bank Transfer
    Visa
    Mastercard
    Skrill
    Neteller
    Bitcoin
    Unionpay
    Broker to Broker
    Fees Included in Spread
    1110.503.69/ 5
    USD 200
    Market Maker
    Commodities
    Cryptocurrencies
    Forex
    Indicies
    Equities
    52
    16
    • Well regulated
    • Good for beginners
    • Innovative trading tools
    • Limited education
    • Wide spreads
    11110.54.5/ 5
    111104/ 5
    111104/ 5
    110002/ 5
    10.50001.5/ 5
    11110.54.5/ 5
    111104/ 5
    67% of retail investor accounts lose money when trading CFDs with this provider
    30:1
    1 pips
    Professional
    Standard
    etoro
    Visa
    Mastercard
    Neteller
    Unionpay
    Skrill
    Paypal
    Fees Included in Spread
    Visit Broker
    AlertMost retail CFD accounts lose money. Your capital is at risk.

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