JustForex offers online forex trading on the MetaTrader trading platforms. This brokerage offers MAM accounts, social trading, market analysis and educational materials to assist investors. While the broker offers a range of flexible account types, the brokerage scheme is offshore and therefore we would be very careful and prefer an alternative online broker. In this JustForex review, our team has covered some of the most important aspects to consider when choosing the best broker. JustForex has been ranked in our best forex brokers, best exchange brokers, best cfd brokers, best crypto brokers and best online brokers categories. You can use our free broker comparison tool to compare brokers online including JustForex.
JustForex is a Forex broker that provides access to Forex trading online. It is owned and operated by ‘JF Global Ltd’; a company registered in St. Vincent and the Grenadines. The brand was founded in 2012 with a focus on efficiency, integrity and flexibility. The broker offers more than 170 tradable assets to its worldwide clientele.
JustForex states that its liquidity comes from 18 of the largest banks in the world. The prices are aggregated from these liquidity providers and streamed to the clients on the offered trading platforms. As a result, spreads start at 0 pips (although they go up much higher) for the ECN Zero accounts that offer ECN output speeds as low as 0.05 seconds.
The brand offers the MetaTrader platforms; MT4 and MT5 for all its customers. Multiple account types are offered and no minimum trading capital is required. Various trading tools are available as well as market analysis and managed accounts. JustForex has millions of clients from 197 countries around the world.
JustForex is registered by the Financial Services Authority (FSA). JustForex Global Limited is registered in St. Vincent and the Grenadines. It is authorized and regulated by the Financial Services Authority (FSA). Most professionals would advise against using a broker who only has this scheme. Experts usually prefer a broker that is regulated by the FCA, CySEC or ASIC.
JustForex states that it is committed to Anti Money Laundering (AML) and Know Your Customer (KYC) policies. Therefore, all customers are required to go through KYC checks, which include a ‘proof of address’ and ‘proof of identity’. The client’s activities are also monitored and all data is properly maintained and audited.
The broker is committed to providing a secure and safe trading environment for all clients. So it has implemented a ‘Secured Socket Layer’ (SSL) that encrypts all user transactions to and from the servers. This technology is perfect for fighting cybercrime and deter Internet hackers.
The broker claims that customers’ deposits are held in separate bank accounts opened with high-rated banks. So they are separate from the broker’s bank accounts. The client’s funds should not be used by the broker for its internal day-to-day activities.
JustForex states that its services are not intended for residents of the United States of America. Some JustForex brokerage features and products mentioned in this JustForex review may not be available to investors from specific countries due to legal restrictions.
If you are looking for a broker in a particular country, see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
MetaTrader 5 (MT5) is a professional trading platform with powerful tools for charting, trading and for fundamental and technical analysis. The MT5 trading platform is fast, flexible and supports numerous trading styles and strategies. Developed by ‘MetaQuotes Software Corporation’ in 2010, MT5 is widely used by millions of investors around the world. JustForex only supplies the MT5 desktop version.
Here are some of the main features of the MT5 trading platform:
Graphs of all instruments can be displayed on 21 time frames.
- Multiple order types, including pending orders and fulfillment orders.
- 38 technical indicators are built into the MT5.
- 44 graphic objects used for analyzing charts.
- Access to the MetaTrader market and the MetaTrader forum.
- Automate your strategies by building your own Expert Advisors (EAs).
- Access to VPS services to improve speed and reliability.
- Depth of the market.
- The economic calendar is built into the platform.
- Price alerts via SMS, email and platform pop-ups.
MetaTrader 4 (MT4) is the older version of the MetaTrader platform. The MT4 platform was developed in 2005 by the same MetaQuotes Software Corporation. It has remained the most popular platform despite having a successor in the MT5. Reasons for this include the simplicity of MT4, the large number of brokers it offers and due to compatibility issues as there are already thousands of trading systems built for MT4 that cannot run on MT5. The MT4 platform is also an advanced platform with powerful tools for performing detailed chart analysis and trading. It is known for its short learning curve and its user-friendly interface. JustForex supplies all versions of the MT4 namely:
MT4 WebTrader: It does not require any downloads or installations as it runs on web browsers making it compatible with all operating systems and all devices.
MT4 Desktop: This version is the main version which contains the full features of the MT4. It can be downloaded on the Windows operating system.
MT4 Mobile: This version is available on Android and iOS devices.
Here are some of the main features of the MT4 investment platform:
Intuitive, customizable and fast trading platform.
- Displays the fluctuating prices of all instruments in real time through the market watch window.
- Analyze the charts with 30 built-in technical indicators and 24 analysis tools.
- Show your charts over 9 time frames from 1 minute to 1 month.
- Supports automated trading through Expert Advisors (EAs).
- Strategy tester for testing EAAs based on historical data.
- Buy agreements, indicators, trading signals and other tools from the MetaTrader market available through a tab on the MT4 platform.
- Built in MetaEditor for programming custom MQL indicators, scripts, EAs, etc.
- Alerts via email, SMS and platform popups.
MAM is a solution for JustForex money managers who want to trade on behalf of investors and for investors who want to authorize money managers to trade their accounts. JustForex provides the Multi Account Manager (MAM) software that allows money managers to manage and trade multiple accounts at the same time. The managers manage a master account and receive commissions from the profits they make. Investors can track the performance of the cash box on his account, but cannot trade. Investors can add or remove MAM, while past performance should in no way be a guarantee of future results.
JustForex supports social trading through the MT4 trading platform. Social trading allows investors to replicate the strategies of other expert investors by copying their trades into their own trading account. The experts are the signalers; they are assessed on the basis of their performance statistics. Investors have the option to pick and follow the signals of any provider they choose based on their performance data. The signal provider can earn a percentage of the profit made while the investor can copy signals without trading or even knowing how to trade. It should be stressed that there is absolutely no guarantee of the performance of these signals and that historical results do not reflect future results.
Virtual Private Server (VPS)
A VPS is a powerful virtual computer that can be used to run your trading platforms 24/7. It is normally necessary for investors who need uninterrupted connection to the trading servers. EA users, social trading investors, and investors using some other advanced trading systems often require a VPS. They are widely regarded as readily available, reliable and very fast. VPS subscriptions can be taken out via the MetaTrader platforms, as there are different providers.
This tool shows thousands of upcoming economic events from more than 50 countries. The impact of these events is classified accordingly as low, medium or high. The analyst consensus is shown as a percentage and the previous impact percentage is also shown. Clicking on an event will display its detailed analysis and graph. The calendar can be adjusted according to the investors’ favorite events.
This section of the JustForex website consists of:
- Market Overview: This subsection is updated every weekday. It looks at the market movements of the assets, including the economic news feed.
- Daily Forecast: This provides a daily analysis of some of the major pairs using technical and fundamental analysis methods. It ends with trading recommendations.
- Technical Analysis: This uses technical indicators and chart patterns to provide analysis, particularly on major currency pairs.
- Market News: Provides the news of the markets. It is not regularly updated.
- Cryptocurrency Analysis: Provides a periodic analysis of the cryptocurrencies, especially Bitcoin.
- Stock Market Analysis: It provides the analysis of the most popular stocks.
This section of the JustForex website contains more than 55 articles on forex trading. The articles are aimed at beginners through the introduction of forex trading terminology, trading best practices and money management strategies. Then the articles gradually move on to conducting market analysis and then focus on the various technical indicators. In general, the forex trading articles are well written with examples and illustrations.
- Trade glossary
- The glossary contains more than 70 forex / CFD trading terms and their detailed definitions. This can help users familiarize themselves with some of the more popular trading terms.
- Educational videos
JustForex offers a total of 5 trading videos teaching investors how to use some special features in the MetaTrader platform such as:
- Choosing a trade signal in the MT4 or MT5 platform.
- Buying a robot or indicator on the market within MetaTrader.
- Creating a ‘Trading Robot’ in the MetaTrader without writing any codes.
The following instruments are available to trade online with JustForex:
84 Major, Minor and Exotic Forex Currency Pairs
- 4 Metals
- 7 Cryptos
- 11 Indices
- 2 Energies
- 65 Share CFDs
- 25 Future
There is no minimum deposit. The account currency can be in USD, EUR, MYR, IDR, THB, VND, KWD, CNY or ZAR. The maximum leverage is 1: 3000 and the spread starts at 0.3 pips.
This account is expressed in cents and is a subdivision of the USD. The maximum leverage is 1: 1000 and the spread starts at 0.3 pips.
The minimum deposit is $ 100 and the maximum leverage is 1: 3000. The spread starts at 0.1 pips. Only 57 forex and 2 metal assets can be traded from this account.
The minimum deposit is $ 500 and the spread starts at 0.1 pips. The maximum leverage is up to 1: 3000. This is the flagship that can trade all available instruments.
ECN Zero Account
The minimum deposit is $ 500 and the spread starts at 0 pips. The maximum leverage is 1: 500 and commissions are charged on trades. Only forex, metals and cryptocurrencies can be traded on this account.
Demo accounts are free and unlimited on both the MT4 and MT5 platforms. A demo account can be a great way for an investor to familiarize themselves with the different trading platforms available and to practice different trading strategies.
Swap-free accounts that are Muslim-friendly and sharia-proof are available on all account types.
As brokerage fees can vary and change there may be additional fees not included in this JustForex review. It is very important that you check and understand the latest information before opening a JustForex broker account for online trading.
The JustForex customer support desk speaks English, Indonesian and Malaysian languages. The English support lines are available 24 hours a day, 7 days a week, while the other languages are available 24 hours a day, 5 days a week. If you would like to be called by the support team at a time convenient for you, please complete the ‘call back request’ form on the website. There are several ways to chat with a customer service representative. They are: Telegram, WhatsApp, Skype, Facebook messenger, Viber, Instant web chat and LINE chat. The support team can also be reached by email and on social media via Facebook, Instagram, Twitter, LinkedIn and Telegram.
Deposit and withdrawal
Credit / Debit Cards: Visa, MasterCard and China UnionPay cards are accepted. The minimum deposit is $ 5 while the maximum deposit is $ 10,000 and the maximum withdrawal is $ 2,000. Deposits are free while withdrawals are charged at 2.4% + $ 2.5. Deposits with the card are processed immediately, while withdrawals take up to 5 days.
Online Payments: Acceptable online payments are FasaPay, Alipay, Skrill, Neteller, SticPay, Perfect Money and QIWI. Deposits are free, but a withdrawal fee of 1% or less will be charged depending on the method used. Online deposits are processed instantly, while withdrawals can take 1-2 hours. Payment processors may also charge their own fees, which you should be fully aware of.
Local Transfer: JustForex accepts local transfers from the countries where they have offices or representatives such as South Africa, Nigeria, Ghana, Vietnam, Thailand, Malaysia, Indonesia, etc. There is no deposit fee, but there is a withdrawal fee, depending on the currency.
Crypto Payments: JustForex accepts Bitcoin and Bitcoin Cash payments. Crypto crown payments are free of both deposit and withdrawal fees and are processed within 2 hours.
Opening an account
To create an account with JustForex, visit the website and click on the ‘registration’ button to view the ‘back office registration’ form.
Fill in the form and click on ‘Register’. The confirmation message for creating a back office is displayed. Another form entitled ‘Open First Account’ will be displayed. Enter the account type, base currency, leverage and password and click ‘open account’. You are directly logged into the customer area.
More accounts can be created from the customer area, verification documents can be uploaded and deposits / withdrawals can be made. Once the trading account is verified, you can start trading online using the included investment platforms.
JustForex is a broker that attracts investors by offering very high leverage, reasonable execution speeds and competitive spreads. They offer a variety of flexible account types on offer to meet the different needs of new and experienced investors. A large number of training articles are made available to further support beginners. Demo accounts with virtual money are also available for practicing online trading.
The broker offers social trading platforms and MAM accounts that are useful for those who want to give trading signals and for investors who want to copy the signals without trading themselves. JustForex also provides some trading tools like the daily forecasting and technical analysis that can equip investors and help inspire trading ideas when approaching the markets.
An important area where JustForex needs to be improved is that of regulation. Most investors find the European, Australian and US regulators more respectable than those of the offshore regulators. In fact, most experts advise against trading with offshore brokers at all. For this reason alone, we wouldn’t choose JustForex with so many other reputable and regulated Forex brokers to choose from.