JFD Bank Forex Trade Platform and Broker Review

JFD Bank Forex Trade Platform and Broker Review

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JFD Bank Broker Review

JFD Bank is a broad-reaching Forex broker that provides a competitive trading environment complemented by ultra-fast execution and Straight Through Processing technology.  

JFD Bank was first founded in 2011 and is headquartered in Cyprus. Its main offices are in Germany, Spain, Bulgaria, and Vanuatu, with about 200 employees.

Is JFD Bank Regulated?

Yes, JFD Bank is regulated by the Cypress Securities and Exchange Commission (CySEC), the Vanuatu Financial Services Commission (VFSC), and the Federal Financial Supervisory Authority (BaFin).

According to the official website, JFD Bank is under regulation to provide investment and financial services throughout the European Union under the auspices of the Markets in Financial Instruments Directive (MiFID). 

JFD Bank’s regulations guarantee comprehensive client protection measures, such as segregated funds and a client compensation scheme, while the regulatory network provides adequate resources for customers in case of a dispute with the broker.  

Is JFD Bank Regulated in the United States?

No, JFD Bank is not regulated in Virginia or any other US state. 

Is JFD Bank Regulated in Europe?

Yes. JFD Bank has been regulated in Europe since 2011 by the Cypress Securities and Exchange Commission (CySEC). In Europe, JFD Bank offers cross-border investment services as a regulated Forex broker Europe. 

Is JFD Bank regulated in a Tier-1 Jurisdiction?

According to the JFD Bank website, JFD Bank is regulated under Tier-1 jurisdiction. 

The licensing provided by Tier-1 regulation means that JFD Bank can offer legitimate investment services in Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Israel, Japan, Luxembourg, Netherlands, New Zealand, Norway, Puerto Rico, Singapore, Sweden, and Switzerland.

Is JFD Bank regulated in Tier-2 Jurisdiction?

According to the official JFD Bank sources, JFD Bank is regulated under Tier-2 jurisdiction. 

Tier-2 jurisdiction provides the licensing necessary for JFD Bank to provide its services in specific countries, consisting of the British V.I., Cayman Islands, Cyprus, Italy, Malaysia, Mexico, Poland, Portugal, Spain, and Taiwan.

What are the Platforms and Tools for Forex Trading in JFD Bank?

JFD Bank provides traders with access to tailored versions of the advanced MetaTrader suite, consisting of MetaTrader 4+ and MetaTrader 5+. 

  1. MetaTrader 4+ from JFD Bank includes a unique package of benefits and useful add-ons. 

The platform has more than 500 instruments from 8 asset classes, including forex, precious metals, indices (cash & futures), stocks, cryptocurrencies, ETFs and ETNs, and commodities. 

  1. MetaTrader 5+ from JFD Bank makes use of an advanced IT infrastructure, hosted on optimized Equinix servers. 

Added to this, JFD Bank’s pure Agency Model offers users just full anonymity, transparency, and additional unique post-trade execution reports.

Does JFD Bank Have a News Blog for Forex News?

Yes. JFD Bank offers a news blog and the Market News & Analysis section on the broker’s website. 

This free resource offers fundamental and technical market analysis in the form of numerous insightful articles daily along with exclusive subscription-based content available for free. 

Does JFD Bank Have a Traders Dashboard?

No, JFD Bank does not offer a Traders Dashboard. Some brokers include this feature in their offering to provide a central resource from which traders can access important market data, updates, and currency information.

Does JFD Bank Have an Educational Section?

No, JFD Bank does not have an education system for Forex Traders. Many brokers offer an educational section to beginner traders which will allow them to access learning materials and resources and improve their trading skills.  

What is the content of JFD Bank Forex Education?

While JFD Bank does not offer a Forex Education section on its website, there are numerous analytical and research tools available to traders. These include Market News & Analysis, Webinars & Live Events, and History Data Exports. 

Is JFD Bank Legit?

Yes, JFD Bank is a legit Forex Broker and Trade Platform. JFD Bank has CySEC, the VFSC, and BaFin legal certificates to perform Forex Broker and trading services.

Is JFD Bank Safe?

JFD Bank is a reliable and safe Forex Trade platform in terms of its regulation and safety protocols. The broker is regulated in several global jurisdictions, as described below:

  • CySEC regulates JFD Bank in the cross-border European Economic Area
  • BaFin further regulates JFD Bank in Germany under the directives of the MiFID
  • The VFSC regulates JFD Bank u Vanuatu for non-EU regional services

In terms of its safety protocols, JFD Bank provides several measures, including segregated funds, participation in The Investor Compensation Fund (ICF), and negative balance protection as an added risk protection measure. 

Is JFD Bank a Good Broker?

Yes. According to the Forex Suggest review, for security, trading speed, online support, and cryptocurrencies, JFD Bank is a good broker. 

  1. In terms of trading speed, JFD Bank uses the world’s leading engines to support multi-tiered best bid/ask aggregation, where the broker’s smart order routing executes your orders at the best price available in the liquidity pool. 
  2. This leads to better spreads and institutional-grade execution throughout, especially when it comes to high trading volumes.
  3. In terms of security, JFD Bank is well-regulated in multiple jurisdictions and provides additional protection measures such as negative balance protection, SSL encryption, and protected client deposits. 
  4. In terms of online support, JFD Bank offers a live chat option that provides direct access to a customer support team member. This means that traders can have their queries resolved in real-time, which is necessary in the fast-paced world of Forex trading.  
  5. In terms of cryptocurrencies, clients can trade CFDs on leading crypto coins, including
    BTC, LTC, ETH, and XRP.

What is the Offering of Investment in JFD Bank?

Offerings of JFD Bank can be found below.

Feature JFD Bank
Forex Trading Yes
CFDs Yes
Forex Pairs Yes
Cryptocurrency (Physical) No
Cryptocurrency (CFD) Yes
Social Trading  Yes

Does JFD Bank have Nasdaq?

Yes, JFD Bank offers traders the option of trading CFDs on the Nasdaq 100 Stock Index. Many investors trade on the Nasdaq, an American stock exchange that is the second largest in the world, providing access to the top 100 listed global stocks. 

What are the Awards of JFD Bank?

Forex Trading Platform JFD Bank’s awards are listed below.

  1. The Next 100 Global Awards 2020
    Investment Services
  2. Fastest Growing Forex Broker Europe
  3. Best OTC Brokerage Western Europe
  4. Fastest Growing Financial service company Western Europe
  5. 1st Place: Trading Platform & Features

How to Use JFD Bank for Forex trading?

To use JFD Bank, a forex trader should have the necessities below:

  1. A copy of their identification documents
  2. They should be 18 years or older
  3. They should be able to afford the minimum deposit of $500

If a Forex Trader has the conditions above, they can open a forex trading account to use JFD Bank. 

How to open a Forex trading account with JFD Bank?

To open a Forex Trading account with JFD Bank, a trader should follow the steps below.

  1. Fill in and complete the online Account Opening page on the JFD official website, uploading any requested documents, after which you will receive an email informing you of the next steps, with a download link to the broker’s platforms. 
  2. After you have confirmed your email and your details have been verified and you are registered, you will receive another email with the login credentials for your live account. 
  3. Don’t forget that to trade live, you will need first to deposit funds (a minimum of 500 units) into your account.

What is the Forex Trader Account Types with JFD Bank?

Forex Trading Platform and Financial Asset Management Institution JFD Bank have 2 account types. Every Forex trading account type has different features and conditions with JFD Bank. 

JFD Bank Account Types are listed below. 

  1. Demo Account

  2. Retail Account

  • Demo Account

The demo account from JFD Bank will allow users to test the features of the single retail account within the MT4+ platform. The demo account can be opened online after a simple registration process. 

  • Retail Account

JFD Bank offers one single type of Retail Account. This account allows users to trade up to 1500+ instruments in 8 asset classes under multiple platforms with just one pricing, one set of trading conditions, and one account type.

How to Withdraw Money from JFD Bank?

To withdraw money from JFD Bank, the following should be done:

  1. Log in to My JFD and fill in the form in the Withdrawal section.
  2. To protect all parties against the possibility of perpetration of any financial crime and comply with AML Directive DI144-2007-08 of 2012 of Cyprus Securities Exchange Commission and related EU regulations, JFD will only process withdrawals/refunds back to the source of the original deposit.
  3. Please be informed that if funds have been deposited by both an online payment solution and by bank wire, the funds deposited via the online solution will be processed first back to the original online source up to the total amount deposited through this method. 

Any remaining funds will be returned by bank wire transfer.

How many days do deposits take with JFD Bank?

If you deposit funds using JFD’s online payment solution, they will be credited to your live account within 24 hours on banking working days. 

In case you deposit funds using a wire transfer, it might take longer for the transaction to be completed depending on the terms and conditions of your local bank.

What are the costs and fees with JFD Bank?

There are three types of costs with JFD Bank. Commission costs are charged for CFDs, Forex, and Metals but not on Physical Stocks. Spread costs are for all Forex currency pairs, and swap costs are for users that keep positions open overnight, also referred to as rollover fees.  

A Forex Trading Cost is charged to the trader by the broker for using the JFD Bank brokerage services and can be packaged in different ways, but are most commonly applied as spreads, commissions, and swaps. 

Spreads are the difference between the bid and the asking price and are represented in pips. Commissions are charged on round trades and will not apply to all accounts or every instrument. Swap fees are interest charged on positions held overnight. 

  • The Forex Trading Fees with JFD Bank are below. 
  • Commission on CFDs, FX & Metals: Yes
  • Commission on Physical Stocks: No 
  • Swap Fees: Yes (excluding CFDs on Futures Contracts)
  • Overnight financing costs: calculated for CFDs on Stocks & Cash Indices: 3.25% +/- Libor.
  • Platform Frees: No
  • Note: JFD Bank has the right and upon its discretion to charge any account due to aggressive cash equities flow (including but not limited to latency arbitrage, professional Money Manager or HFT/Algo flow) and/or any other trading actions which violate the Company’s trading conditions, on a daily or weekly basis (in some cases retrospectively) as follows:

US stocks: $0.0025 per share with a minimum of $1

EU, German, Dutch stocks: 1.5bps (0.015% fee per trade value) with a minimum of 1.5 €

What are the Trading Fees with JFD Bank?

JFD Bank does not charge any processing fees on client transfers and does not mark up any eventual transfer fees that may be charged by banks. 

Banks may charge JFD and/or its clients for transfers. When such transfer charges apply, they are transparently deducted from the clients’ payments either by the Banks or in some cases intermediary bank charges may apply as well.

JFD Bank does not offer a swap-free account. These are often provided for traders of the Muslim faith, for whom such interest is prohibited by Sharia law. 

What is the minimum deposit in JFD Bank?

The minimum deposit amount required to open a retail account with JFD Bank is $500.  

What are the contract specifications in JFD Bank?

Feature JFD Bank
Forex Trading Yes
CFDs 400+
Forex Pairs 66
Cryptocurrency (Physical) 0
Cryptocurrency (CFD) 5
Social Trading  Yes

Does JFD Bank have promotional offers?

No, JFD Bank does not provide promotional offers or bonuses to its new or existing clients. This is because of JFD Bank’s strict, multi-level regulation, with its primary regulators strictly prohibiting the offering of bonuses to traders. 

Does JFD Bank have a welcome bonus?

No, JFD Bank does not offer a welcome bonus. 

However, JFD Bank is one of the few in the industry which offers Straight Through processing. This 100% DMA/STP Agency Model means Direct Market Access, which is when all your trades are forwarded directly to the market. 

At JFD Group Ltd the broker acts strictly as an intermediary (agency) between clients and Liquidity Providers (LPs). 

This is called STP and stands for Straight Through Processing. As JFD Group Ltd is connected to LPs (Tier1 Banks, Non-Bank LPs, and MTFs) through bridges and aggregators, you get the best price available for your trades.

Does JFD Bank have a deposit bonus?

No, JFD Bank does not offer a deposit bonus.  This is because JFD Bank’s regulators restrict the broker from offering a deposit bonus. 

Is there a commission-free trade bonus in JFD Bank?

No, JFD Bank does not offer a commission-free trade bonus. The broker does however offer commission-free trading on certain instruments, such as Physical Stocks, and does not charge additional deposit or withdrawal fees.   

Is there a VIP bonus in JFD Bank?

No, JFD Bank does not offer a VIP bonus. While JFD Bank does not offer a VIP account, all users of the single retail account will enjoy significant benefits, including cost-effective trading, better execution, and high-capacity aggregation technology.  

Can you start trading with no money at JFD Bank?

No, you cannot start trading with no money at JFD Bank. This is because JFD Bank does not offer any deposit bonus, therefore traders will need to deposit their funds when opening a Trader Account.

How does leverage work with JFD Bank?

Leverage is essentially funds that are borrowed from the broker that allows a trader to increase their trading position. 

This allows them to open larger positions. Using leverage will give traders the chance to enhance their potential profits. However, traders should also keep in mind that leverage will also increase their potential losses. 

Traders can use leverage with JFD Bank by logging into the client area on their retail account. From here, they can access their account settings and set the leverage to their required ratio. 

Professional clients are provided with leverage up to 1:400. However, due to leverage ratios set by ESMA, retail traders can only access leverage between 1:2 and 1:30. 

Where are the headquarters of JFD Bank?

JFD Bank is headquartered in Limassol, in Cyprus. JFD Bank also has main offices in Germany, Spain, Bulgaria, and Vanuatu.

Who is JFD Bank’s CEO?

The CEO of JFD Bank is Lars Gottwik. He has an entrepreneurial background with a strong track record of starting, scaling, and exiting ventures in different industries.

What are the social media accounts of JFD Bank?

Traders can follow JFD Bank on the following social media accounts:

  • Twitter
  • Facebook
  • YouTube
  • LinkedIn

How many employees do work for JFD Bank?

According to the official LinkedIn profile, JFD Bank has about 200 employees.

What are the opinions about JFD Bank?

JFD Bank is a good choice for intermediate to advanced retail and professional Forex traders. The broker provides access to an excellent selection of over 1500 tradable instruments, with enhanced features built into the industry-leading MetaTrader 4 and MetaTrader 5 platforms. 

JFD Bank is well-regulated in several jurisdictions and offers excellent, professional customer support complemented by comprehensive analytical features. 

However, beginner traders will not have access to any type of educational resources and may find some of the tradings features too advanced.  

What are JFD Bank Contests?

JFD Bank does not run any kind of Forex Trading Contests. Forex Contests can be performed for brokers who offer them to traders to profit on contest winnings. 

JFD Bank didn't perform any Forex Contest in the past. For future forex exchange contests and competitions, JFD Bank didn't perform any official announcements yet.

Does JFD Bank have online support?

Yes, JFD Bank has an online support team for Forex trader account users. This will allow traders to have their questions answered immediately through direct contact with a support team member.  

Does JFD Bank offer demo accounts for Forex trading?

Yes, JFD Bank offers a free demo account for all new traders. The demo account can be opened with the following steps:

  1. Go to the registration portal on the broker’s website
  2. Select the demo account option from the drop-down sheet
  3. Select your preferred platform type for which you would like to create demo access
  4. After you have read accepted the terms and conditions, you can finalize the submission of your demo application

Does JFD Bank have a mobile app for Forex trading?

Yes, JFD Bank offers a mobile app for both the MT4+ and MT5+ platforms. This is the first 100% DMA/STP Agency Model mobile trading app solution, powered by MetaQuotes, allowing you to trade on the broker’s popular MT4+ platform anytime, anywhere. 

Traders can use their iPhone, iPad, or portable android device, and gain access to financial markets globally.

By trading directly from real-time charts you can receive all the information about the actual spreads and price movements, Tick by Tick, whenever and wherever you happen to be.

You can benefit from Buy & Sell limit orders, as well as Buy & Sell stop orders, while on the go. Take Profit and Stop Loss orders can equally be placed and modified as you trade on the move, through the Mobile app.

 

Does JFD Bank publish an economic calendar?

An economy allows users to keep abreast of important upcoming market events and announcements from around the world that may impact their trades.  

JFD Bank does offer an economic calendar. JFD Bank’s economic calendar provides information on financial events, forecasts, and historical data.

 

What is the communication information of JFD Bank?

JFD Bank has thirteen telephone numbers and three local addresses. 

JFD Bank’s main telephone number is: +49 (0) 69175374271

JFD Bank’s main local address is: Kakos Premier Tower, Kyrillou Loukareos 70 4156 Limassol, Cyprus

Alternate phone numbers are:

Austria +43 (0) 720884234

Cyprus +357 (0) 25878530

France +33 (0) 176779799

Germany +49 (0) 69175374271

Switzerland +41 (0) 315500182

United Kingdom +44 (0) 2031500779

Czech Republic +42 (0) 0255790525

Netherlands +31 (0) 852085567

Spain +34 919 039 480

Portugal +351 308 808 045

Brazil +55 (11) 31972284

Italy +39 (0) 683361641