Awards Recognition

In the world of forex broker companies being honored with awards from esteemed organizations or publications, count much for the company’s reputation.

Although JustForex is rated highly by many happy customers in personal reviews, there is no information available on the JustForex homepage about any official awards received.

JustForex Accounts

A forex account is a trading account held by a trader with a company like JustForex that is primarily issued with the purpose of trading currencies.

Usually, the number and type of accounts that a trader can open with a broker company differ according to the country in which the brokerage operates, the country of residence of the trader, and the regulatory authorities under whose jurisdiction it operates.

Types of Accounts and Their Features

In the case of JustForex, they offer various account types for their clients with different account currencies, leverages, spreads, commissions, and other benefits.

Currently, JustForex offers six different types of accounts:

JustForex Demo Account

This account is designed to fulfill the needs of beginners and newbies and allows new clients to learn the basics of trading as well as provide tutorials in form of simulations.

It only differs from a live account in that the client uses virtual cash in the execution of trades.

JustForex Cent Account

This account has also been designed for new clients who have little or no experience, or small-scale traders since it operates with cents as its base currencies and allows inexperienced traders to trade without too large risks.

JustForex Mini Account

This account is designed to suit traders who want to be able to deposit and trade in any amount. This account requires no minimum deposit, no commissions are charged and lots of currency units can be used.

JustForex ECN Zero Account

This account is meant for the more experienced traders who prefer intraday, frequent inputs, and outputs, and short working time frames. It is best for scalpers but requires a minimum deposit of $500.

JustForex Crypto Account

This account is meant specifically for those that want to trade on cryptocurrency units as its main trading instrument. It requires no minimum deposit, uses the United States dollar as the base currency, and charges a commission on trading.

JustForex Islamic Account

This account has been designed by the Islamic sharia law that prohibits swaps.

Deposits and Withdrawals

Depositing with JustForex is simple and fast. Traders have several payment methods to choose from, including:

• Visa
• MasterCard
• FasaPay
• local banks
• Neteller
• PerfectMoney
• Qiwi
• Skrill
• UnionPay
• SticPay
• Alipay

The majority of the methods do not incur fees.

Their processing time is mostly quick, with just a few that could take up to five banking days. When the currency of your deposit differs from the account currency, your deposit will be converted at the JustForex internal exchange rate.

JustForex allows a minimum deposit of just 1 USD when you open a Cent or Mini trading account but if you want to trade on a Pro account, you will need a deposit of 500 USD.

There are also multiple ways available to withdraw funds, with the general processing time around 1 to 2 hours.

Once a withdrawal has been approved and released, the time it takes for the funds to be credited to an account may vary, however, since it depends on the payment method used. JustForex withdrawal fees vary according to the payment method.

Cost and Fees, Commissions and Spreads

The cost of trading depends on different factors like commissions, spread, and margins.

The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move. One pip is 0.01 for currency pairs with JPY as the term currency and 0.0001 for all other pairs.

Margin is the amount of money required in your account to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your trading account.

Commissions are the charges imposed by an investment broker on a trader for making trades on the trader’s behalf. The level of commissions will vary between different brokers and also depends on the asset being traded and the type of service offered by the broker.

Execution-only brokers, which is a broker that does not involve in any personal investment advice and gives traders complete control over how they trade the markets, tend to have lower commissions.

While contract for differences (CFDs) trading is a form of derivative trading that enables traders to speculate on the rising or falling prices of fast-moving global financial markets, it’s trading on shares will incur commission.

CFD trades on other markets have no commission but do wrap a spread around the market price of a certain instrument.

JustForex makes its money from spreads and commissions on certain types of accounts. With JustForex, the spreads are considered to be ultra-low however and trades are executed speedily.

JustForex does charge inactivity fees and does charge deposit fees. Regardless of the account you choose, you will be able to enjoy the tight spreads offerings of JustForex which are among the most competitive in this market.

Leverage

The facility that enables a trader to get a much larger exposure to the market than the amount he or she deposited to open a trade, is called leverage. Such leveraged products magnify a trader’s potential profit – but of course, also increase the potential loss.

The amount of leverage is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that a trader has $1,000 in his or her trading account and is trading ticket sizes of 500,000 USD/JPY, that leverage will equate to 500:1.

The maximum leverage offered by JustForex is 1:3000.

Bonuses

Forex brokers tend to lure new traders with offers of attractive deposit bonuses. This can be useful, but it is essential to discern what a proper bonus is.

Such a bonus is but a way to compensate traders for choosing a certain broker since once the account is opened, the trader will have the same expenses as any other.

The bonus is just a reward for the trader’s choice that gives some of these expenses back to the trader, once proving himself as an active trader.

Customers should note that no deposit bonuses are a great way to help you start trading, but it often comes with ridiculous terms so that even if you do make a profit, and you have to trade a high volume before you can do any form of withdrawal.

Moreover, since 1 August 2018 The European Securities and Markets Authority (ESMA) has placed investor protection measures on the marketing, distribution, or sale of CFDs to retail clients.

These prevent brokers from directly or indirectly provide the retail client with a payment, monetary or excluded non-monetary benefit about the marketing, distribution, or sale of a CFD, other than the realized profits on any CFD provided.

JustForex seems to offer a 100% deposit bonus on deposits greater than $100.

Trading Platforms, Software, and Its Features

The forex trading software provided by a broker company to its clients is called the platform and is used to carry out their trades.

A platform can be a multi-asset one, which means that it allows clients to not only trade forex but also other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies.

The decision about which platform to choose will depend on what a client would like to trade, therefore it will be one of the criteria when choosing a broker too.

JustForex provides MetaTrader 4 with which traders can trade on various financial instruments, do account monitoring and market analysis.

The platform can be accessed on PCs, via a web-based version and mobile applications for iOS and Android devices.

Markets, Products, and Instruments

Most brokers offer all or some of the following kind of market instruments for trading:

Forex:

Forex trading, also called currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates.

Commodities:

As with currency exchange markets, commodity markets offer different investment opportunities for traders. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of inflation or economic uncertainty.

Indices:

Equity or stock indices are actual stock market indexes that measure the value of a specific section of a stock market. They can represent a specific set of the largest companies of a nation or they can represent a specific stock market.

Precious metals:

The trading of gold and other precious metals involves hard commodities that are contract-based tradable goods.

Energy:

The high volatility of energy prices due to political and environmental factors, supply and demand, extreme weather conditions, and global economic growth is a typical feature of this product, making it another popular trading choice.

Cryptocurrencies:

Bitcoin (BTC) is the digital currency with the largest market capitalization and price levels since its inception in 2008. It dominates 50% of the total crypto market cap.

Litecoin (LTC) is similar to Bitcoin but differs in terms of scalability.  Litecoin is another very popular altcoin and LTCUSD is a fork of Bitcoin (BTCUSD), copied from Bitcoin’s code and with some alterations and launched a new project.

Ripple (RPL) is popular among big banks with the Ripple network a next-generation real-time gross settlement system. It allows instant cross-border fund transactions at very low costs.

Ethereum (ETH) is the second-largest cryptocurrency after Bitcoin and allows developers to create smart contracts on a platform.

Bitcoin Cash (BCH) was created by the Bitcoin hard fork in 2017 as a new version of the blockchain with different rules.

Clients of JustForex will be able to access a certain number of assets depending on the account they have chosen, but in total JustForex offers more than 140 instruments composed of the following:

• Currencies –Around 60 forex currency pairs including majors and exotics.
• Commodities – Brent crude oil, WTI light crude oil, and spot metals such as gold, silver, platinum, and palladium.
• Indices – Popular global indices like US30, US100, US500, UK100, and DE30.
• Shares – There are over 60 stocks that you can invest on such as Apple, Facebook, Coca-Cola, Microsoft, Netflix, Twitter, Amazon, and Alibaba.
• Crypto – Cryptocurrency trading like Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dashcoin, Ripple, and EOS.