Introduction: What is JustForex?
According to the website, JustForex has appeared on the Forex market in 2021. Actually, we are pretty impressed with the website. JustForex has put a reeeaally huge effort into making its website look trustworthy and reliable. They even claim that JustForex stands for the world’s most trusted forex broker. However, in reality, it’s still another scam retail Forex broker that registered in St. Vincent and the Grenadines, with no delegated regulation.
At first glance, it is not easy to notice they’re fake. It seems the years of experience worked in their way. The company has a decent assets variation, over 170, and these numbers include Forex trading, Spread Betting, Social trading, Share Dealing.
However, our attention was caught by ridiculously perfect bonus options. In some circumstances (if a trader opens the most expensive trading account), they offer bonuses 200%-500% higher of traders’ profits. They are well aware that beneficial offers and promotions are one of the decisive factors for many traders. Knowing that well, JustForex launches bonuses and promotions from time to time. However, all these bonuses are fake. They simply are tricks to get traders’ attention.
Besides that, the company claims that their average profits are seven times the initial deposit, 52% of traders consider it as their primary source of income, and 70% use its research. The website even proudly announces that JustForex serves millions of traders from 197 countries. Who believes that? No one.
Lack of regulation: The most alerting “red flag.”
Okay, now let’s move on to the most alerting “red flag”-Regulation. The owner of JustForex broker is JF Global Limited, which is registered in St. Vincent and the Grenadines. However, the mentioned FSA license does not lend the operation much clout in the regulatory trust department. St Vincent and the Grenadines are not among even the average reliable regulatory jurisdictions.
Offshore zones are simply the homeland of unreliable brokers so, why would you put your funds at risk?
Additionally, even though JustForex states that the clients’ funds are set in the segregated bank accounts, the deposit insurance is absent. So, basically, they ask you to trust them without any proof.
Trading conditions at JustForex: are they even real?
Now, let’s talk about the trading conditions with JustForex.
JustForex offers traders four account types-Three commission-free account types and one raw spread alternative. The Cent and Standard accounts require a minimum deposit of just $1 or a currency equivalent, while the Pro and Raw Spread accounts cost $100.
So, again, years of experience taught JustForex that high pricing of the trading accounts might sound very unreliable for the traders. So, they put minimal costs, making their accounts more desirable and affordable. However, after opening the account, they will ask you to make the bigger deposits. Still, it is a relief that if you still think of starting a business with them, you won’t lose much with just opening a $1 account.
Like most forex brokers, JustForex offers MT4 or MT5 trading platforms. The website also provides a quick guide on how to use MT4. However, JustForex does not provide any third-party add-ons for upgrading the trading platforms. Frankly, many brokerages offer MT4. Nothing is impressive here.
At JustForex, you get access to a particular number of digital assets depending on the account that you’re applied to. Generally, they have over 170 instruments which are composed of the following:
You’ll be able to access 65 forex currency pairs, and this includes majors and exotics.
You will be able to invest in WTI light crude oil, Brent crude oil, and spot metals such as gold, platinum, silver, and palladium.
Also, you can trade on popular global indices such as US30, US500, US100, UK100, and DE30.
Additionally, there are over 60 stocks you can invest on such as Apple, Facebook, Coca-Cola, Microsoft, Netflix, Twitter, Amazon, and Alibaba.
JustForex also supports cryptocurrency trading. You can invest in digital coins include Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dashcoin, Ripple, and EOS.
The leverage offered by JustForex is extremely high, 1:3000, which also deserves your attention, as trading with high leverage might lead you to significant money losses.
Deposit and Withdrawal issues
Speaking of making deposits or withdrawals, JustForex supports 25 payment options, including credit/debit cards, online payment processors, local bank wires, and cryptocurrencies.
However, as it sounds very risky to trade with JustForex, If you still decide to work with them, we recommend you use a credit/master card, as they are more secure, and in case you are having trouble with the withdrawal, your bank might help you well.
JustForex’s Customer Service: do they ever respond?
Actually, customer service is also impressive. Available methods to reach the support are e-mail, phone, callback, live chat, and six messenger services.
The website is available in multiple languages, but customer support is not provided in many of them. Basically, they are pretty responsive in English before you start trading and accumulating wealth. As soon as you ask questions regarding the withdrawal or reporting an issue, it’s improbable to receive an answer from them.
To conclude, we can’t ignore JustForex’s hard work to achieve a well-designed and informational trading website. Maybe that’s the reason they stayed on the market for so long.
Scam brokers change their domains year by year, so we can’t really prove much about their past.
However, speaking of their current version, they seem to offer a lot of doubtful conditions. We recommend you stay away from JustForex broker, but you can still open a cheap account with low profits and secure yourself if you decide not to. We wish you a safe and successful trading experience.