In this JAFX review you will know all you need to know about JAFX broker like how to do JAFX login or what is JAFX minimum deposit to open trading account.
I’m not really one for writing reviews, but after several mishaps (and financial losses) related to selecting the wrong Forex broker, it seems important that I write this. A few months ago, I was speaking to a friend and telling him that I was ready to give up on Forex trading entirely. He mentioned his success with trading and with using JAFX as his broker. It took a few days of really thinking about it before I decided to make a small deposit and put this broker to the test. What follows is my personal JAFX review, including details of my experience and results.
The best place to begin should be my trading experience. I trade binaries for quite a few years before I was able to build up my courage to venture into Forex. The same as many who are just getting started, I relied upon signals and trading services to trade on my behalf. Without going into a lot of detail, I can definitively state that the entire experience was horrible. The funds that I had deposited were quickly drained, and my subsequent deposit would meet the same fate. After this, I vowed to never trade Forex again until I learned more about trading and found a reliable trading service.
When JAFX was mentioned to me, I was understandably hesitant. By this time, I had mastered the basics of Forex, but was still interested in having someone trade for me. I signed up for a demo account and started investigating the PAMM account options offered by JAFX. My plan was to trade on my own (using small lot sizes for minimal risk), while also using one of the PAMM account options to have someone trade for me. There were several options to choose from, but I ended up selecting the MasterEA. Before moving on to the results, let me tell you more about how I decided on using that particular managed account option.
JAFX provides a dedicated page that shows each of the auto-trading options. On that page, you will be able to see the current gains, number of trades executed since launch, number of days the system has been active, drawdown, and other important information such as the minimum deposit and costs associated with using each system. The standard cost is a percentage performance fee, which is calculated and subtracted from your account once per month, on the first weekday of the month.
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For MasterEA, the fee is 40%, but the fee does vary for other systems, so refer to the aforementioned page for this information (https://www.jafx.com/autotrading).
I’ve spent a lot of time talking about the auto-trading options, but this JAFX review would not be complete without mentioning the details surrounding the ECN accounts. JAFX is a true ECN broker, and as such, is able to offer low latency and no re-quotes. Strategies such as hedging, scalping, and news trading are permitted. Spreads vary, of course, but the average is 0.6. There are nearly 50 different pairs to trade on, including commodities. Leverage amounts can be selected by each client, with the maximum option being 1:500. I was able to click on my account number and then edit my leverage setting from within my account.
I suppose I should back-track a bit and discuss account creation (I warned you that I am not a professional review writer). Registration only takes a minute or two, but you will need to consider uploading your ID and address documents as soon as possible to have the account approved quickly. For those who are new to trading, these documents are a requirement for a broker to be in compliance with money laundering laws. In my case, my documents were reviewed within a few hours, after which, I started the process of funding my account. There are several payment methods to choose from, but I chose Bitcoin because it was fast and fee-free.
Withdrawal is of course something that all traders are concerned about, and with good cause. Not all brokers make it easy (or affordable) to withdraw. Each of my requests have been reviewed and approved within two business days. With Bitcoin, the payment is instant, so there has been no waiting for me. I understand from friends who use other deposit methods that bank wire withdrawals typically post within a few days, Skrill is instant, and credit/debit withdrawals tend to have the longest wait time for the funds to arrive. Since withdrawals are paid back to the method used to deposit, I would recommend depositing using a method that offers fast withdrawals.
For those who are interested, JAFX does offer affiliate accounts. Of course there are also account manager accounts also, so if you are a trading expert (or know someone who is), feel free to contact the affiliate manager for the company for help with getting started. Speaking of, JAFX does offer several contact methods for support, including phone (several international numbers to choose from), email, and live chat. Affiliates and account managers can also use Skype to speak directly with one of the managers who oversee these account types. The call center support hours are between 9am to 8pm EST, Monday to Friday.
JAFX Review Conclusion
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In concluding the JAFX review, I give this brokerage an enthusiastic thumbs up. From the start, I have been pleased with how hassle-free each step has been. From registration, to depositing, to trading, and withdrawing my earnings, there have been no problems to report. When I had reached the end of my rope and was about to give up Forex trading for good, JAFX provided some light at the end of the tunnel. Today, I am generating a steady extra income through trading (both my own and through my auto account), and I could not be more pleased. If you have questions, I would recommend reading their JAFX FAQ page or contacting their support team who can assist you with getting started.