JAFX Review

Wanna see if JAFX is a legit broker? Is it safe to trade? The spread is high or low? How to deposit or withdraw?

We provide answers to all the questions in this JAFX Review.

We checked JAFX licenses and regulation status to see if JAFX scam or safe. Compared JAFX fees like spread & commission from its live account to other 150 brokers. Also the time for deposit & withdrawal and many more findings in this Review.

JAFX is online trading platform operating globally since 2016.

JAFX main issue is that it is one of the unregulated brokers based in the offshore SVG (Saint Vincent and the Grenadines), that does not provide strict overseeing or regulation.  

JAFX Highlights

🗺️ Regulated in	Saint Vincent and the Grenadines (SVG)
🛡️ Is JAFX safe to trade	No
💵 EUR/USD spread	Commission basis
🏦 Deposit	Cards, Bitcoin
💰 Minimum deposit	US$10
🏦 Withdrawal	Bitcoin
💻 Trading platform	MT4
💳 Trading markets	Forex, CFDs on Cryptocurrency, Stocks
📈 Number of product	177
📉 Live chat response	No Live Chat, email answers are average

Regulation

License and regulation are the keys to traders’ fund security. There are two factors to be checked, what licenses the broker has and how trader is protected if something goes wrong.

Is JAFX legit

JAFX is based offshore and only has license issued by St. Vincent and the Grenadines. There is no any other regulation or protection from world top-tier authorities.

JAFX Licenses and Regulatory status

Entity	Registered in	Regulator	License no.	Status
JAFX Ltd	Saint Vincent and the Grenadines	–	–	Registered no regulations

Is JAFX safe

No, we do not consider JAFX safe because it regulated by non serious authorities.  

JAFX has only one entity registered in Saint Vincent and the Grenadines, and it is high risk to open account with unregulated broker because there is no legal authority you can complain so there is no guarantees over the trading transparency, funds security or customer protection.

JAFX does not provide negative balance protection for traders. There is no compensation scheme or funds guarantees in case of insolvency

Markets and Products

There is a good range of  Forex and CFDs on Stocks and Cryptocurrencies in JAFX offering. But other popular instruments like Commodities, Indices, Futures or ETFs are missing.

Markets	Instruments
Forex	47
Indices	–
Commodities	–
Cryptocurrencies	30
Shares	107

Account types

JAFX offers a single Standard Account with a one fee model. Islamic Account is also offered and available upon request and confirmations.

Fees and commissions

JAFX fees are built into a spread plus a commission charge, compared JAFX fees to industry benchmarks we rank its fees average.

Spread for popular instruments we collect for 6 markets and 150 brokers

Markets	Instruments	Low	Average	High
Forex	EUR/USD	0.1-0.9	1-1.5	1.6 or higher
Indices	US 500	0.1-0.4	0.5-1.4	1.5 or higher
Commodities	Gold	0.1-0.4	0.5-2	2.1 or higher
Stocks	Tesla	0.1-0.5	0.6-1	1.1 or higher
ETFs	US Russell 2000	0.1-0.4	0.5-1.4	1.5 or higher
Cryptocurrencies	Bitcoin	0.1-0.5%	0.6-0.9%	1% or higher

Spreads

JAFX cost structure is the same for all traders, there is a spread from 0.4 spreads and fixed commission of 4$ per Lot.

The spreads derived from Live Account on our test trades the spreads were low and commission charge was 4$ as promised, compering to industry competition JAFX total fees are remain on average.

Markets	Instruments	Standard account	Other brokers’ avg spread
Forex	EUR/USD	0.7	1-1.5
Indices	US 500	0.5	0.5-1.4
Commodities	Gold	–	0.5-2
Stocks	Tesla	0.6	0.6-1
ETFs	US Russell 2000	–	0.5-1.4
Cryptocurrencies	Bitcoin	80	0.6-0.9%

Other Fees

JAFX has low non-trading fees. Deposits and withdrawals are free of charge.

Trading Conditions

The trading conditions at JAFX are good, you can deploy any strategy of your choice including hedging and scalping.

Trading Conditions	Yes/No
Hedging Allowed	Yes
Scalping Allowed	Yes
Change Leverage Allowed	Yes

For hedging, there are no time limitations for hedging positions.

Scalping is allowed, Expert Advisors (EAs) are supported on MT4 platform, about VPS it is not clear which providers are available.  

Leverage

JAFX offering high leverage ratios up to 1:500, that is considered risky.

Deposit

JAFX claims it has no deposit fees. You can use Credit or Debit cards,  and Bitcoin.

From the negative points the most secure method bank transfer is not available, e-wallets are not supported too.

Deposit Method	Funding Time	Fee
Credit Card	Instant	Free
Bitcoin	Instant	Free

Minimum Deposit

The Minimum deposit amount is 10$ for JAFX account opening.

Withdrawal

JAFX supports only Bitcoin as a withdrawal method.  

This is rather negative point since you need to create Bitcoin account before you trade with JAFX if you don’t have one, also none of secure methods are supported.

Withdrawal Method	Withdrawal Time	Fee
Bitcoin	2 business days	0$

Bonus

There is no any Bonuses or Promotions offered by JAFX.

Trading Platform

JAFX mainstays on MetaTrader4 as a trading software, which is good point, but there is no any alternative offered.

MT4

JAFX MT4 offering full package trading with Desktop, WebTrader and mobile Apps suitable for Android and IOs devices.

Research and Tools

JAFX does not have very good research, the main research and tools you count are the one inbuilt in platform.

Market Analysis, Fundamental data and research from industry leaders are missing.  

JAFX Research tools available on:

• JAFX trading platform

Education

JAFX education has nothing to offer.

There is a big negative point at JAFX, as there is no any education provided, essential for beginners trading Articles, Videos, Analysis or Webinars are missing. The traders are only offered to test Demo Account.

News

News section and latest financial news is one of sources provided by JAFX, you can find News Feed inbuilt in the platform.

At JAFX you can learn though website and platform directly including:

• Demo account
• News Feed

Customer Service

JAFX customer service is very basic, you can contact support teams 24/5 using phone lines in the UK or Australia only, or Contact Form. Live Negative side – Live Chat or Email is not supported.

JAFX Customer Support is available in various languages:

• Telephone lines in UK and Australia only
• Contact Form

JAFX email response is average speed on messages through Contact Form.

Question Asked	We asked about deposit methods.
Time of Reply	We left message via Contact Form and got reply via email.
Quality of Reply	The answer was satisfying, but methods are very limited

Conclusion

JAFX is not a safe broker to trade. JAFX is among unregulated brokers and has not clear reputation.

Trading conditions are rather much lower than industry offering. Markets range is mainly focused on Forex and Cryptocurrencies, education and research is not provided, traders can only use popular MT4 tools. Besides deposit and withdrawal methods are very limited, you can only use Bitcoin as payment method.

We do not recommend JAFX due to lack of regulation and trading conditions that are rather not attractive. Money safety is first, it is better to choose among well-regulated Brokers like CMC Markets, FxPro also with better trading offering.