JAFX was founded in 2013 by John Anthony with the aim of creating a retail trading broker in forex to give exceptional services to its customers. JAFX does not have any form of regulation at all, and this might chase away potential clients because they feel as if they don’t have a sense of protection. There is also no clear proof that it is regulated by any financial authority in the country it is located.
JAFX offers it client auto-trading system and is available from Money to Friday for 24 hours. This system will automatically place your trades for you. This software ensures that it takes care of all the work while you sit down relaxes and enjoys.
Trading Platforms
This broker uses the Meta Trader platforms which allow its traders to trade online and can be accessed in both a phone and a PC. The mobile application is available for both Android and iOS and comes with trading orders that are full in the set. This broker provides online interactive charts and quotes to its clients for a good period of time. Traders are also offered a chance to grab a chance of getting thousands of indicators through a cost-free Code Base
Account Type
JAFX only offers three types of accounts named STP/ECN, Islamic, and a free demo account. The company’s website claims that the ECN account is easy to create and operate. There is no any bonus or benefits offered to this account. The free demo account has $50, 000 to practice trading and the Islamic account is set up for Muslim traders.
Deposit and Withdrawal
The minimum deposit for an ECN account is $10 and vary for the PAMM accounts. Several deposit methods are available and include wire transfers, Bitcoin, debit/credit card, and Skrill. Withdrawal fees may sometimes apply, but traders are not charged any deposit fees. Most of the requested withdrawals are processed within one or two business days.
Spread, Commission, and Leverage
This broker claims that ECN accounts offer its traders leverage of up to 1:500. The trading size has a minimum of 0.01 lot, and each lot has a $4 commission. Its spread starts at 0.4 pips, and the average spread is 0.6 pips.
Support
This broker can be reached through an online form, telephone or live chat. There is even a Facebook account that is created by John Anthony. They also have an FAQ page where common questions are answered.
Pros
• There is an Islamic Account for Muslims
• High leverage of 1:500
Cons
• Have no regulations or legal registration
Conclusion
The trading master John Anthony has applied his skills which have offered services to a lot of Forex traders both new and experienced. He has therefore been able to produce a trading atmosphere that sees his clients rewarded. Despite JAFX being founded a few years ago, it will continue to improve and grow in future.