JustForex is the talk of the town in Forex circles currently. The reason for Justforex’s sudden popularity is because of their new bonus scheme. We will discuss their bonus offering along with everything else they have to offer in our review.
JustForex Review – Introduction
JustForex is based in St. Vincent and the Grenadines. The broker was founded back in 2012. Since then, we have seen a gradual growth in this broker’s popularity. We can safely assume that JustForex is going to be in the top South African brokers soon.
The broker is not locally based, so we have to consider many different things.
In this JustForex review, we will rate the broker on every field individually.
Regulation
The foremost thing that you should always check about a broker is their regulation. Regulated brokers are safe to trade and offer lesser risk percentages.
In South Africa, when you are thinking about opening a trading account with a broker, FSCA licensing must be present with the broker.
Multi-regulation further ensures the trader’s safety and security. New traders are prone to get scammed. Many brokers run phishing schemes as well. Some brokers disguise their traders in bonus schemes.
JustForex, however, is a safe broker. This broker has 3-level regulations.
- In Europe – CySEC
- In the United Kingdom – FCA
- SVGFSA
Reliability
JustForex keeps the traders’ accounts segregated. The segregation offers an extra layer of security for traders. Authorities require brokers to save money in local and separate accounts.
The JustForex broker is also a member of Europe’s security council for financial safety. Hence, you can be sure about your account’s security.
Leverage
JustForex has insane leverage rates. The broker offers a 1:3000 leverage markup for traders. European traders are capped at 1:400 for a reason.
Higher leverages expose traders to unnecessary risks. However, the traders who use Forex as a quick way to make money can take advantage of the extremely high leverages at JustForex.
Minimum Deposit
The minimum deposit at JustForex is 10 USD. For South African traders, the deposit limit in ZAR is R150.
JustForex deposit rates are lower than average. This is a good option for new traders. Combined with the high leverage markup, new traders can make money efficiently.
Currency offerings
JustForex offers trading in multiple currencies;
Namely;
- USD
- GBP
- EUR
- MYR
- IDR
- THE
- VND
- KWD
- CNY
- ZAR
- JPY
Traders from around the globe can trade with JustForex since it touches all the world’s major currencies.
Deposit methods
You can deposit money into your JustForex account using 25 different methods. No other broker offers this many deposition method offerings. Some of them are;
- Bank transfer
- Wire transfer
- Credit card
- Debit card
- Skrill
However, we don’t see the PayPal method in their list.
Customer support and satisfaction
JustForex has a reliable support system. Their support channels are live 24/5. On the weekends, you can access their support team on different social media channels.
However, the local language speakers at JustForex support are not available mostly.
Verdict
In our conclusion of the JustForex review, we recommend this broker to be new and average traders. Justforex’s trading services are aimed at retail traders. Professional and institutional traders might not be satisfied with their features and services.