Earn Cash Back by signing up to Just Forex through ConsultFX
When you open a Just Forex account through us, Just Forex pays us part of their spread or commission profit for every trade you make as compensation for referring a customer to them. We then share the majority of our revenue with you, paying you a cash rebate for each trade you make as thank you for signing up with us. Your spreads and trading conditions remain the same as if you had opened an account directly with the broker. The only difference is: as our client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker.
JustForex offers its clients a choice of several basic account types in order to suit the needs of traders of all levels of experience and preferences. All account types offer variable spreads and micro tradable lots, however spread amounts vary, as well as leverage levels. The tightest spreads are of course delivered on the ECN account, where a commission applies, while the other two account types are commission-free.
In 2017 the broker also launched a Cent account with leverage up to 1:2000 and average spread of 2 pips.
In addition, swap-free (Islamic) services are available for all account types upon request from clients who are not willing to earn interest for religious reasons. There are some restrictions on the opening of the Islamic accounts with this broker: only traders living in a country, where the official religion is the Islam, may transfer their accounts into the swap-free group.
Furthermore, unlike most brokers, who offer demo accounts for a certain period of time, JustForex provides free practice accounts with no time limits.
The Company. Security of Funds
JustForex is an offshore broker that is offering trade in a wide range of currency pairs and precious metals on the renown MetaTrader 4. This is a brand of IPCTrade Inc, which operates on the basis of international brokerage license, issued by the International Financial Services Commission of Belize (IFSC).
IFSC has very liberal control over forex brokers. It requires brokers to hold at least $100,000 net tangible assets, to keep client funds in segregated accounts, and report to the ISFC on a monthly basis. Unlike with the FCA and other EU regulators, regulated companies are not required to detail individual transactions, nor are connected to any compensation schemes.
To put it simply, when considering operating with Belize-regulated brokerages, traders should take into account that they will be receiving very limited regulatory protection and oversight.
We have to point out that despite the above said, JustForex currently is one of the most popular brokers in Asia and is one of the few brokers that offers Negative Balance Protection. This means that when negative balance takes place due to market volatility, it will be set to zero.
Minimum Initial Deposit
There is no minimum deposit on any account with Just Forex. Yet, in order to place an order, one has to deposit at least $0.5 for Classic accounts or $2 for the other two. These are symbolically low amounts, as most brokers require at least $100 – $300 from traders as a start. In comparison, another offshore broker, ForexBrokerInc, requires $100 from its clients as a minimum for all account types.
Average Spreads & Commissions
Just Forex offers floating spreads, which vary by account type: the ones on the Standard account type are averaged 1.3 pips for the EUR/USD pair, which is average; and the ECN spreads are pretty tight, averaged 0.4 + $2.5 for 1 lot, which means that trading costs on ECN account are around 0.9 pips, which is a pretty good deal, especially taking into account that ECN account is accessible for just $2.
In comparison, FX Choice, another Belize-registered broker, offers average variable spreads of 1.2 pips fo on its commission-free accounts and ECN spreads averaged 0.5 pips for the EUR/USD pair, involving a commission of $3,50 per lot per side. For further information, you may check out and compare real-time spreads of 15 leading brokers here.
The maximum leverage rates at JustForex are one of the highest in the forex industry, reaching 1:3000. In comparison, SVG-based OctaFX and ForexBrokerInc both offer leverage up to 1:500. More forex brokers offering leverage equal to or exceeding 1:500 can be viewed here.
Traders, however, should be aware of the risks associated with trading on margin – higher leverage levels may lead to losses, even exceeding initial investments. That is why many jurisdictions set limitations on leverage, which are considerably lower, for instance 1:50 in USA and Turkey.
JustForex offers its services on the most popular platform among traders – MetaTrader 4. The MT4 is available as desktop version, mobile apps a web-based version.
This professional, fully-featured software provides traders with everything they need: fast order execution, a variety of technical indicators, linear instruments advanced charting package and the ability to develop and to use Expert Advisors (EA). There are many different time frames to choose from and you can place a trade with a single click or within a chart.
In 2016 the broker introduced trading forecasts, recommendations and analytics from Trading Central, available to clients who have made at least one deposit into their accounts. Those traders who have an account balance exceeding $100, are also entitled to access to the TC.Technical Analysis indicator from Trading Central. The trading recommendations and the analysis will appear directly in the dynamic graph window, where users can select the timeframe on their MT4.
What is more, JustForex provides Trading Signals via MQL5. All you have to do is create an MQL5 account, choose a successful signals provider and copy his or her orders.
Currently JustForex offers welcome on-deposit bonuses of 100% (up to $20 000) for deposits over $100.
Methods of Payment
Clients of JustForex are offered a variety of payment modes to choose from: credit cards, bank wire transfers, and the following e-wallets: Skrill, Neteller, WebMoney, QIWI, Perfect Money, China UnionPay, ePayments, DixiPay, OK PAY, Yandex, Bitcoin and others.
JustForex Prepaid card (or ePayments Prepaid MasterCard®) is also an option – a universal payment solution, which considerably simplifies the payments settlement between JustForex and its clients.
JustForex is a reputable offshore broker, offering competitive conditions for trading in a wide range of currency pairs and precious metals on the MT4 platform. ECN environment is accessible with very low deposit and the broker promises to zero out clients`negative balances.