JFD Brokers Review 2024
Website: www.jfdbrokers.com
Min. Deposit: US$ 500
Leverage: 1:30 | 1:400
Trading Platforms: MT4, MT5, stock3
Regulation: CySec, BaFIN, VFSC
Headquarters: Cyprus
Founded: 2011
Regulatory Licenses:
- JFD Group Ltd - authorized by CySEC (Cyprus) registration no. 150/11
- JFD Bank AG - authorized by BaFin (Germany) registration no. 120056
- JFD Overseas Ltd - authorized by the VFSC (Vanuatu) registration no. 17933
Updated on January 8, 2024
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JFD Brokers is a Forex and CFD trading broker offering its clients access to trading Forex, Indices, Cryptos, Commodities, Metals, and more.
JFD Brokers is recognized as a commendable broker with regulatory compliance and Direct Market Access for a superior trading experience, a variety of trading platforms, and straightforward account setup. The broker supports numerous funding methods and provides educational resources.
Pros
Regulated by several authorities
Provides Direct Market Access
Offers a variety of trading platforms
Supports multiple funding methods
Provides educational resources
Cons
Does not offer 24/7 support
Trading conditions may vary based on the regulatory entity, potentially affecting competitiveness in some regions.
Is JFD Brokers Safe or a Scam? ▲
JFD Brokers prioritizes the safety of its clients' funds by adhering to regulatory guidelines set by multiple authoritative bodies, ensuring a secure trading environment.
JFD Brokers Review Summary in 12 Points ▲
Headquarters: Cyprus
Regulation: CySec, BaFIN, VFSC
Platforms: MT4, MT5, Guidants
Instruments: Forex, CFDs on Index, Shares, Commodities, Bonds, ETF and ETN, Cryptocurrency, and more
EUR/USD Spread: 0.2 pips
Demo Account: Available
Minimum Deposit: $500
Base Currencies: Various currencies available
Education: Comprehensive education tools and daily analysis
Customer Support: 24/5
JFD Brokers is deemed a reliable broker with secure and advantageous trading conditions and transparency. The broker extends a range of trading services with competitive trading costs. Among its significant benefits, JFD Brokers is accessible in numerous countries, enabling traders to engage also with the most competitive spreads.
JFD Brokers Overall Ranking is 4.3 out of 5, based on our evaluation and in comparison, to over 1000 brokers.
Leverage trading is a significant feature offered by forex brokers, allowing traders to increase their trading volume beyond the initial investment. However, it's crucial to understand that while leverage can magnify profits, it can also magnify losses. Each broker has its own set of leverage ratios, and these can vary depending on the instrument being traded and the trader's level of experience or regulatory restrictions.
Trading fees are a critical aspect to consider when choosing a forex broker. These fees can come in various forms, including spreads, commissions, and overnight financing costs, also known as swap rates. Some brokers offer commission-free trading but might have higher spreads, while others may charge a commission but offer tighter spreads. Understanding the structure and breakdown of these fees is essential for traders to manage their trading costs effectively.
JFD Brokers stands out for its transparent and competitive fee structure, primarily built around a commission-based model. This approach ensures that traders are aware of the costs associated with their trading activities. Notably, the broker offers Zero-Commission trading conditions for ETFs and Stocks, which is an attractive feature for investors looking to diversify their portfolio without incurring high transaction costs.
Furthermore, JFD Brokers calculates overnight financing costs for CFDs on Stocks and Cash Indices at a rate of 3.25% plus or minus Libor. This is a critical factor for traders holding positions overnight, as it can impact the overall profitability of their trades.
The Agency Model employed by JFD Brokers guarantees a zero-rejection rate and no requotes, providing traders with unconditional and anonymous access to the interbank market. This "Fill or Fill" model also enables both negative and positive slippage, ensuring that traders receive the best possible execution price.
Based on our comprehensive analysis and comparison with over 1000 other brokers, JFD Brokers' fees are considered low, receiving an overall score of 4.5 out of 5. This rating reflects the broker's commitment to offering competitive and transparent trading conditions, making it a recommended choice for traders looking for a reliable and cost-effective forex broker.
JFD Brokers offers competitive spreads, with the EUR/USD pair averaging at 0.2, starting from 0 pip for all clients. Trading on major indices like DAX and DOW comes with reduced commissions on CFDs (0.1 per lot per side), coupled with the flexibility of trading mini lots on CFDs and proper money management strategies. In comparison to over 1000 brokers, JFD Brokers' spreads are highly competitive, earning a rating of 4.5 out of 5.
To commence live trading, JFD Brokers provides a variety of payment methods for account funding and withdrawals. These options encompass bank transfers, Sofort bank transfers with a 1.8% deposit fee, and online payment solutions like Skrill at a 2.9% fee, Safecharge at a 1.95% fee, and UnionPay without any charges. It's advisable to assess each payment method alongside the related fees for fund transfers. JFD Brokers' approach to funding methods received a rating of 4.4 out of 5 due to the varied options and generally low fees, albeit with some charges applicable depending on the method selected.
Pros
Offers a wide array of payment methods
Supports various accountbased currencies
Cons
Fees applicable on certain deposit and withdrawal methods
JFD Brokers mandates a minimum deposit of $500, which is in line with the industry standard for trading platforms and accounts.
To withdraw funds, the same methods are available, some of which may incur fees. For instance, Skrill and Safecharge withdrawals are subject to a 1% fee. However, JFD Brokers does not impose any internal fees for withdrawals, although deposit fees may apply based on the payment method chosen.
JFD Brokers has opted for industry-proven platforms such as the award-winning MT4 and MT5, known for their performance and functionality. These platforms are complemented by JFD's unique offering, the Guidance platform, tailored for the German market. Additionally, the broker provides access to stock3, a popular CFD and Forex trading platform in Germany, offering an interactive and intuitive trading experience across more than 1500 instruments in 9 asset classes with 100% DMA/STP execution. The availability of VPS for advanced trading strategies and continuous EA monitoring further enhances trading capabilities. With a rating of 4.5 out of 5, JFD Brokers' platform offerings are deemed excellent compared to other brokers.
Pros
Offers popular MT4 and MT5 platforms
Unique Guidance platform for German market
Access to the interactive stock3 trading platform
Cons
No proprietary platform for those seeking a brokerspecific trading environment
Providing 24/5 customer support, JFD Brokers ensures clients have access to assistance via phone, live chat, and email. With quick and knowledgeable responses, the broker's support services are rated at 4.25 out of 5, highlighting its efficiency and accessibility.
Pros
Fast and knowledgeable responses
Multiple channels of support available
Cons
Limited to weekdays support
JFD Brokers stands out for its technological excellence, reliability, customer service, and competitive pricing. The broker's commitment to technical optimization and server technology provides a powerful combination for traders at all levels and with various trading styles. It's an excellent choice for beginners, advanced traders, those interested in currency and CFD trading, social trading enthusiasts, and users of MT4 and MT5 platforms seeking low spread trading, competitive fees, EA trading, and quality educational materials. Overall, JFD Brokers earns a solid recommendation for its comprehensive trading services.
