JAFFX is a Cryptocurrency focused broker that is based in the United Kingdom. They have a variety of options for traders, including an excellent Trading platform, a Demo account, and a Cryptocurrency focused trading platform. However, there are a few issues to be aware of, including the possibility of legal challenges and inactivity fees for clients who haven’t traded in a period of 30 days.
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Demo account
Using a demo account is not only a great way to learn about the trading platform, but it can also provide you with the experience of risk-free trading. JAFX offers a demo account to give you a better understanding of their trading platform.
While the JAFX demo account offers you the freedom to explore the broker’s offering, it is important to note that you are not able to withdraw any profits.
The JAFX platform offers numerous security protocols. In addition, the platform offers built-in technical indicators that alert you when market conditions change. The platform also allows you to participate in various automated trading systems.
The platform also offers a unique rebate program. As the name suggests, it allows you to earn rebates on your trading.
Trading platform
Among the many brokers in the industry, JAFX stands out. The platform offers a wide variety of trading products. Aside from traditional currencies, the broker also offers cryptocurrencies like Bitcoin, which can be easily deposited and withdrawn.
The trading platform features a range of analytical tools to help traders analyze price movements. It also features a color-coded chart of popular market movements, known as Marketwatch. This feature provides fast insights for busy traders.
The JAFX MT4 trading platform is simple and intuitive. The platform also offers a variety of stop loss and take profit features, and features built-in technical indicators.
JAFX offers its clients the chance to sign up for a business account. They can open an account through the company’s website.
Cryptocurrency-focused broker
JAX (JAFX) is a cryptocurrency-focused broker. They offer a wide range of cryptocurrencies including Eidoo against the BIT and USD. Their trading platforms are available in several languages. They also offer forex trading, CFDs, and commodities.
Traders can open a trading account at JAFX for a minimum deposit of $10. The minimum trade size is 0.01. JAFX offers trading accounts in USD, EUR, and GBP. The maximum leverage is 1:500. JAFX also offers micro lot trading, which allows traders to trade as little as one lot at a time.
JAFX offers an array of trading instruments, such as stocks, CFDs, commodities, and crypto-pairs. It also offers news trading. However, it is not available to residents of numerous countries. Some countries, such as Somalia, Vietnam, and Sudan, are excluded from the services.
Inactivity fee for clients who have not traded in the past 30 days
Several brokers charge an inactivity fee for clients who have not traded in the last 30 days. These fees are intended to compensate them for the costs of service when the account is open. Some brokerages also charge a fee for accounts that have not traded for more than three months. This is an additional expense for investors who prefer to purchase and hold their investments.
There are several factors to consider when choosing a broker. It is important to read the brokerage’s terms and conditions before opening an account. You can also check with customer service for a list of brokers that do not charge inactivity fees.
JAFX offers variable spreads for its trading accounts. Spreads range from 0.4 to 12 points. The broker also offers an ECN account and a mobile trading platform. In addition, the broker’s spreads are competitive compared to other brokers.
Legal challenges
Almost daily, the Commodity Futures Trading Commission (CFTC) is charging alleged fraudulent companies. In the case of JAFX, the CFTC alleged that the company is an unregistered foreign exchange dealer and that it is a scam. The agency is currently seeking civil penalties and injunctive relief, as well as a hefty civil monetary penalty.
The CFTC claims that JAFX is not only an unregistered foreign exchange dealer but that it failed to offer a legitimate risk disclosure statement to its customers. It is also alleged that the company misled its customers about the likelihood that it would be able to generate a profit for them.
JAFX is a Bulgarian-based FX broker that claims to provide true ECN/STP brokerage. The company has attempted to create an elaborate trading platform and claims to have an unrivaled set of trading tools and capabilities. However, the company has faced a series of challenges in the relatively short span of its existence.
