Your capital is at risk While it is not one of the better known FX brokers, JustForex has been around since 2012, so it is sort of an industry veteran in its own right.
Traders interested in cryptocurrency-based CFDs are almost guaranteed to like JustForex. Its crypto/crypto and crypto/fiat pair selection is absolutely superb, probably better than anything the competition offers in this regard.
That said, the reputation of the brokerage is far from spotless. Scores of people complain about various shortcomings of the operation through community review sites.
Most complainers point an accusing finger at spread- and order manipulation. There are always two sides to the story however and JustForex actually has an aggregate score of 4.8 on Trustpilot.
The bottom line in this regard is that around 50% of those who have bothered to provide feedback, have called the broker a scammer.
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This hardly makes for a positive first impression. Its lack of reliability notwithstanding, user feedback always constitutes a cornerstone of any proper broker review.
JustForex’s regulatory standing doesn’t do much to right this shaky first impression either.
The broker is what one would call an “offshore” operation. The owner of the brand is GM Group Limited, based on St Vincent and the Grenadines. The exact address of the company is Suite 305, Griffith Corporate Centre, PO Box 1510, Beachmont, Kingstown.
GM Group Limited is a registered company. Its financial activities are licensed and regulated by the local FSA, its license number being 23993.
For a while, the broker also listed Belize and its IFSC as a regulator, though other than the listing itself, there was no proof made available in this regard. However, in 2019 the company moved this licence to St. Vincent as a reaction to Belize’s unstable banking sector. The move was reportedly done in order to safeguard customer funds.
Experienced traders know that St Vincent and the Grenadines is not exactly a regulatory jurisdiction that lends financial operators any kind of weight compliance-wise.
Exactly where can JustForex legally offer its services then?
According to the official site of the broker, traders from US, UK, EU, and Japan are not able to trade on the platform. That implies that all other comers are welcome to join.
Why would a trader from the EEA (or another part of the world) want to open an account with JustForex?
JustForex’s services are very accessible. The broker offers some 3 account types which do not require a minimum deposit at all. Even the accounts which do require real money deposits are very reasonable in this regard.
The trading conditions are quite outstanding, and one of the account types features ECN execution.
On top of that, JustForex offers an impressive range of different tradable commodities. In addition to 80 currency pairs, traders can also trade indexes, futures, CFDs, gold, silver, oil, and Bitcoin along with a few other cryptos.
Traders’ funds are kept in segregated bank accounts and all financial transactions are protected by cutting edge encryption.
Given its regulatory standing, the broker can afford to offer a number of interesting promotions and bonus deals. It has to be noted that there have been some complaints about the terms and conditions tying these promotions.
The maximum leverage available at JustForex is a mind-numbing 1:3000. This setup does not apply to the crypto trading account however. The maximum leverage there is 1:3 only – very reasonable, given the volatility of the asset class.
Traders are welcome to use all trading strategies at JustForex, including scalping, hedging and news trading.
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JustForex Promotions and Bonuses
Traders who make a deposit of at least $100, get a 100% bonus to go with it, so they’ll have $200 to use for trading.
The bonus is optional: traders need to tick a box when making the deposit, to get it. The size of the bonus can also be set.
To grab more bonus money, traders can simply deposit more. The cap on the bonus amount per person is $20,000.
The profits generated from the bonus money can always be withdrawn. To make the bonus available for withdrawal, users need to trade a number of lots equal to the bonus amount/4.
Bonuses are available for the Mini as well as the Standard accounts.
Occasional promotions are also run by the broker, targeting regional clientele. One such promotion offered extra bonus money to Chinese clients for the Chinese New Year.
JustForex Trading Platform
JustForex’s trading platform offer is based on MT4 and MT5. The world’s most popular and by some accounts best trading platforms, JustForex’s trading platform is available in its full desktop version, as a Web Trader, as well as in a mobile variant for iOS and Android devices.
Both the Web Trader and the desktop version offer full access to the superb charting capabilities of MT4 and the excellent processing of MT5.
In this regard, the platform is indeed peerless. It supports an amazing number of chart types, time frames and drawing tools. Scores of technical indicators are included with the downloadable version too.
MT4 is a fully customizable solution: it lets traders create their own indicators and add them. It also supports automated trading. To put their EAs and custom scripts to optimal use, traders need a VPS service.
While the broker seems to offer such a service, it actually merely recommends a third-party provider.
The Web Trader can be accessed at but a few clicks. It too supports most of the features covered by MT4 and MT5.
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JustForex Account Types
As mentioned, the account types offered by the broker make a superbly accessible and attractive mix.
They also provide great ways for beginners to ease into the flow of FX and crypto CFD trading.
The smallest account is the Cent one. It uses the US cent as base currency and it features some surprisingly good trading conditions.
Spreads on major pairs start from just 0.3 pips and the maximum leverage is 1:1000.
The Mini Account keeps the action small-stakes, but it supports some 8 base currencies, including the USD, the EUR, the CNY and the IDR. This selection makes it clear that the focus of the brokerage is on Asia.
Mini Account spreads start from 0.3 pips, but its maximum available leverage has been raised to 1:3000.
The Crypto Account requires no minimum deposit either. It offers spreads starting from 0 pips, and its base currency is USD. It does charge commissions however.
The Standard Account is the first one that has a minimum deposit requirement. Those who want to register for such an account, have to pony up just $1.
The Pro and Raw Spread Accounts require a $100 which remains incredibly accessible and reasonable.
The trading conditions on this account are more than reasonable as well. It features spreads starting from 0.1 pips, maximum leverage of 1:3000 and no commissions.
For serious traders, the ECN Zero Account is obviously the best choice. Spreads start from 0 pips on this one, but there’s a commission.
The minimum required deposit is $500.The maximum leverage is just 1:500.
Deposits/Withdrawals
The Asia-focused nature of the broker is obvious in its accepted deposit method selection. Besides the “mainstream” deposit methods of VISA, MasterCard, Neteller, PerfectMoney, Qiwi, Skrill, UnionPay and FasaPay;JustForex also accepts local bank deposits. Withdrawals can be made through the same methods and via local bank transfers.
In addition to the above, Bitcoin deposits are accepted as well.
JustForex Conclusion
From a strictly technical perspective, JustForex is an attractive trading destination. Its account types are great, its trading conditions are reasonable and its trading platform is solid.
That said, its reputation is not good, and we simply cannot overlook that issue…Actual trader feedback is always valuable.
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