JFD is a group of companies offering financial services, including “JFD Bank”. Founded in 2011, JFD Group Ltd (ex. JFD Brokers Ltd) is authorized and regulated by the Cyprus Securities and Exchange Commission – CySEC (Licence number: 150/11). JFD Bank AG is authorized and regulated by the Federal Financial Supervisory Authority (BaFin). In addition, JFD Overseas Ltd is an offshore firm authorized and regulated by the Vanuatu Financial Services Commission (License number 17933).
Trading instruments are divided into following groups: Forex, Indices, Commodities, Stocks, ETFs and Cryptocurrencies. There are more than 60 pairs, 15 indices and over 400 shares of companies over the world. Despite the competitive spreads we should notice there are commissions while trading indices, stocks, commodities, ETFs and cryptocurrencies. If you want to hold your own shares that can be traded without margin requirements, there is an option called Physical Stocks where it can be done.
JFD Bank goes beyond the strict requirements for EU-regulated brokers, providing a so-called “Post-trade execution report” that brings more transparency and contains properties such as execution time, execution price, existence of slippage, execution speed and liquidity providers. Regulations oblige JFD to keep client’s money into a segregate account.
There are plenty of methods for deposit and withdraw funds including credit cards like VISA and MasterCard, bank wire, SOFORT and a variety of e-wallets like Skrill, WireCard, SafeCharge, Trustly, Rapid Transfer or ePay.bg. However, all the transaction costs are covered by the client. We should pay attention to the so-called Inactivity Fee. According to the description: When an account has been deemed inactive a monthly inactivity fee of 20 EUR/USD/GBP/CHF (depending on the base currency of the client account) will be charged to each inactive trading account. So, if you are not an active trader this broker is inappropriate for you!
JFD claims it acts as a Straight Through Processing (STP) broker and as such it must pass all trades directly to the interbank market or hedges them simultaneously and completely. That means JFD is not a market maker and is not a counterparty in the clients’ deals. JFD Bank offers a DMA (Direct Market Access) model of order execution, forwarding all deals to the liquidity providers. That assures 100% anonymous fulfillment, direct access to the best bid/ask prices and complete transparency. As a result, the spread for the EUR/USD pair tightens to 0.1 pip and the order execution time falls drastically. JFD declares that all the client’s orders are filled without being re-quoted and rejected. However, if the prices change rapidly, slippage may occur.
The Account specifications section shows that the minimum deposit amount is USD500. Watch out what company deals with you because JFD Overseas Ltd offers no protection against negative balance and you can ultimately owe money. Those who like riskier deals can trade with JFD Overseas, which provides leverage up to 1:400. The company declares that scalpers are welcome. There are few brokers who do not prohibit scalping.
JFD offers the two most widely used trading platforms – MetaTrader4 and MetaTrader5. Both come with advanced charting packages, numerous technical indicators and customizable expert advisors (EAs) that will help you run automated trading sessions. In addition, there is another platform for trading – Guidants, which is socially oriented and is available as a web version. Beginners have the option to choose some of the successful investors to follow. They must open an Invest account, fund it and then start copying investor’s deals.