JFD Bank Review: is jfdbank.com Scam Broker? - Topedgefx.com

JFD Bank Review: is jfdbank.com Scam Broker?

JFD Bank Forex broker is offering trading in over 1500+ financial instruments.

JFD Bank states on their website that they offer over 60 Forex pairs, over 400 shares CFDs, 15 index CFDs, 7 Commodity CFDs, 21 ETFs and 4 ETNs, 5 Crypto CFDs and 2 Precious Metals.

This is quite a huge variety of financial instruments that would draw clients to this broker.

On top of this, JFD Bank is accepting a minimum deposit of  500 EUR or its equivalent in USD, CHF or GBP respectively.

Trading on CFDs, Forex and Metals don’t attract any commission.

However, trading on physical stocks costs $0.0025 per share for US stocks and (0.015% fee per trade value) for EU stocks.

In addition to this, JFD Bank is charging 20EUR as inactivity fee for any account which is deemed not to be active.

Other fees related to their various product offering can be found on the official website.

Note: You can find professional brokers on this page. If you would like to use a Forex expert advisor, look for our recommendations here.

Is JFD Bank a legit broker?

The main thing is that this broker is regulated in the EU by CySEC.

JFD Bank fore broker review

This broker is part of the JFD Group of Companies. One of their subsidiary is known as JFD Bank AG, which is authorized by BaFin.

On top of that, we’ve found out that JFD Overseas Ltd is based in Vanuatu.

In addition to this, the broker is claiming to provide an STP trading environment and denying that they are market makers.

They support trading on the MT4, MT5 and Guidants platforms.

As usual, many traders are familiar with the MetaTrader platforms but not Guidants.

The MT4 and MT5 trading platforms offer excellent charting functions and integration with all kinds of Forex EAs and indicators.

JFD Bank Forex broker appears to have it altogether.

However, when we look at client feedback from forums like the FPA, we find shocking complaints about the broker.

While the broker is doing all they can to address most of the complaints in that forum, the negative reviews marked with 1 star are one too many.

Conclusion

The broker has a professional website and a wide range of trading instruments.

However, we still don’t understand the reason they can’t make their clients happy with their product offering.

Based on our finding, we are seated on the fence as we don’t know whether to recommend this broker or not.

Please remember that they are regulated and as an authorized broker, their main focus should be to please their clients and limit complaints.

Leave a Reply