JustForex Review

Review

JustForex is an online Forex and CFD ECN brokerage launched in 2012. They are headquartered in St Vincent and the Grenadines. Clients are offered a choice between an ECN-style and market-marker style account types.

JustForex offers traders the opportunity to trade over 60 Forex currency pairs including Gold and Silver against the U.S. Dollar, as well as 39 cryptocurrency pairs, which is an unusually wide range of crypto. They offer no range of assets beyond this because they are “just Forex”. They offer an extremely high maximum possible leverage of 3000 to 1.

Accounts

JustForex differs from most brokers in offering clients a hybrid ECN/STP execution model, allowing the opportunity of fast execution and natural spreads. A choice between account types is offered depending upon whether you want to trade Forex or Cryptocurrencies, how much you want to deposit, and whether you prefer ECN or STP execution.

The Cent account requires no minimum deposit, is denominated in USD, and offers a maximum leverage of 1000 to 1. The minimum spread (without commission) on the benchmark EUR/USD currency pair is 0.3 pips.

The Mini account requires no minimum deposit, may be denominated in a wide range of different currencies, and offers a maximum leverage of 3000 to 1. The minimum spread (without commission) on the benchmark EUR/USD currency pair is 0.3 pips.

The Standard account requires a minimum deposit of $100, may be denominated in a wide range of different currencies, and offers a maximum leverage of 3000 to 1. The minimum spread (without commission) on the benchmark EUR/USD currency pair is 0.1 pips.

The ECN Zero account requires a minimum deposit of $500, may be denominated in a wide range of different currencies, and offers a maximum leverage of 500 to 1. The minimum spread on the benchmark EUR/USD currency pair is 0 pips but commission is charged.

The Crypto account requires no minimum deposit and can be used to trade a range of cryptocurrency pairs. The account is denominated in USD and offers a maximum leverage of 3 to 1. The minimum spread is 0 pips, but commission is charged.

All accounts offer a minimum trade size of 1 micro-lot (0.01 full lots).

Scalping and hedging are allowed, and automated trading is possible. This combination of advantages is something that is increasingly hard to find.

There is no choice of trading platforms, with clients having to trade with the MetaTrader 4 platform.

Features

A relatively wide range of Forex and Cryptocurrency pairs are available for trading, with ECN execution if required, although this requires a minimum deposit of $500. JustForex offers traders the use of an extremely high and generous maximum leverage in traditional Forex currency pairs.

Education

JustForex offers an extensive education section on their site, including a wide selection of static material on the basics of Forex trading, plus a glossary of terms. Additionally, there are a few educational videos, but they focus mostly on the technical aspect of running a Forex robot through the MetaTrader 4 platform.

It would be unfair not to mention the Analytics section of JustForex’s website, which includes daily market overviews and forecasts, as well as periodic technical analyses of popular Forex and cryptocurrency pairs.

Bonuses and Promotions

At the time of this review, the only bonus on offer is a 100% deposit bonus on deposits greater than $100.

Deposits/Withdrawals

Depositing funds into a JustForex account is an easy and secure process. Both may be made using a few different methods, including credit cards, debit cards, bank transfer, Neteller, FasaPay, Skrill, China Union Pay and Bitcoin. Withdrawals are generally made through the same channel that deposits have been made through. JustForex add no charges of their own to any fees which may be charged by such payment processors.

Customer Support

Customer support is based in Indonesia and Malaysia, offering business hours support in a range of languages including English, Malay, and Bahasa.

Conclusion

JustForex has an interesting offering for traders looking to trade Forex and especially Cryptocurrencies with a relatively high leverage, by use of an ECN/STP execution model. JustForex could be an especially attractive broker for clients with relatively small deposit size who wish to benefit from ECN execution.

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Features

In terms of features, the stand-out strengths of JustForex’s offering are:

• An extremely wide range of Cryptocurrency pairs available for trading, as well as approximately 60 traditional Forex pairs, including Gold and Silver against the U.S. Dollar.
• Competitive spreads for larger depositors.
• ECN/STP execution model.
• Maximum leverage as high as 3000 to 1.
• Choice of Swap-Free account types (Islamic account).
• Regulated by a minor industry center (IFSC, St. Vincent and the Grenadines).

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Platform

MetaTrader4

The MetaTrader 4 is an independent trading platform, developed for trading FX, commodities and other products and is one of the most advanced and easy platforms to use. It remains the gold standard of trading platforms.

In addition to the wide range of markets available to trade, the MT4 platform provides traders with a multilingual interface, instant execution, built in help guides for MT4 and MetaQuotes Language 4, a complete technical analysis package including a wide range of in-built indicators and charting tools, various custom indicators and time periods and more.

Automated trading is also offered through the MetaTrader 4 platform where traders can create and test their automated trading strategies by using the MetaEditor, Strategy Tester and Compiler tools within the MT4 platform.

With this automated trading system clients may create Expert Advisors, software programs enabling traders to constantly monitor the markets. Custom Indicators help traders to predict future price movements by analyzing past and current price information. And the Scripts feature gives traders the opportunity to set up an automatic repetition of specific operations such as closing all positions with a single keystroke.

MetaTrader Mobile

The MetaTrader 4 and platform apps can be used on iPhones, iPads, Multi-Terminal, and all Android devices. 

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User Reviews

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