Is JustForex Scam or Legit Broker?
JustForex is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.To get more news about
justforex review, you can visit wikifx.com official website.
JustForex is not officially registered with any industry authority to offer trading services, and its performance is not overseen or supervised by anyone. Moreover, the broker was previously listed as a trading scam while investors were warned by its unregulated nature and use of marketing techniques to attract traders.
What is JustForex?
JustForex is a retail Forex broker that provides traders access to the foreign exchange market and offers great trading conditions on accounts such as Standard Cent, Standard, Pro, Raw Spread, a wide choice of trading instruments, a leverage up to 1: 3000, tight spreads (See No Spread Forex Trading)and market news.
JustForex offers its clients the best trading conditions, providing them with the necessary trading tools and strategies. It is also a Broker with Low Spreads and flexible leverage. At the moment, different types of accounts are available for opening, which differ in trading conditions.
However, JustForex is owned by JF Global Limited, which is an offshore company licensed in St. Vincent and the Grenadine. St. Vincent and the Grenadines is an offshore zone, which does register financial investment firms, but provides very poor if no requirements for the company operation. That means, the broker is not regulated, not overseen, and does not comply with strict international rules that provide protective measures to the traders.
Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, AAG Markets, and more. Read more about St. Vincent and the Grenadines regulation by the link.
JustForex Alternative Brokers
Based on the issues we found during our research, especially regarding JustForex safety and regulations, here we offer much better Alternatives to JustForex with tight regulations and favorable conditions. We select Good Brokers and trustworthy options for your comparison below:
JustForex in India
JustForex allows Indian traders to open accounts and trade. However, JustForex has no mention of complying with any Indian regulators on its website. As the broker is not regulated by any regulatory body in India, money safety may be the issue here.
JustForex in the USA
JustForex is not legal in the USA and is not available for American traders. As per U.S law, brokers regulated by CFTC are the only brokers allowed for USA traders. So, except for JustForex, you are only permitted to trade with U.S-regulated platforms. The broker also does not offer its services to residents or citizens of certain jurisdictions including Japan and the United Kingdom.
Apps
JustForex provides access to its website from smartphones. A convenient and user-friendly interface allows traders to use any functions and actions at any time. Open an account, manage withdrawals, read analytics, and proceed verification – all these steps may be done from the mobile phone.
Demo Account
JustForex gives an opportunity to open a free demo account. Demo trading is a simulation of real trading on Forex, which is made for practicing and training. The demo account does not require investments, it is free. It allows you to gain experience in online trading, practical skills in working with MetaTrader and test your strategy without any risks.
JustForex Review Conclusion
Overall, the company’s offering is among the competitive ones along with its reputation, but generally, options are a high-risk investment due to its nature of trading, as well as the unlicensed environment of the JustForex company puts some question marks either to enter the trading or not.
Since the capital and the security of the investors’ funds is a primary goal, it is strongly recommended to choose among well-regulated companies that hold all necessary licenses, uphold authorized operations, and deliver customer service on a proper level. We recommend signing in with reliable brokers such as BlackBull Markets, GT Global, FBS.
Is JustForex Scam or Legit Broker?
