JRFX

Overview of JRFX

JRFX is a New Zealand-based unregulated brokerage with 2-5 years in the industry. It offers trading services across various assets, including Forex, Commodity, Index, and US stocks. The company provides three types of accounts, namely EasyPro, Standard, and ECN, each with distinct minimum deposit requirements and leverage ratios.

Clients can access trading through platforms like MT4 and a self-developed platform. JRFX offers customer support availability through contact numbers, email, and multiple social media channels such as Twitter, Facebook, and Instagram. Furthermore, the company offers educational resources, such as a trading beginners guide available on their website under the Investor Services tab and a market newsletter. It should be noted that there is no available information on deposit or withdrawal method according to JRFX's website.

Regulation

JRFX is an unregulated company with a “Revoked” status by the Financial Conduct Authority in the United Kingdom, indicating the withdrawal of their license. Additionally, JRFX is labeled a “Suspicious Clone” by the Chinese Gold & Silver Exchange Society in Hong Kong, highlighting its unregulated and potentially fraudulent nature.

JRFX was under the regulation of the Financial Conduct Authority (FCA) in the United Kingdom under the number 913023. However, the FCA labeled the current status of their license as “Revoked.” This means that JRFX is no longer regulated by the FCA and is considered unregulated under this authority.

The “Revoked” status in regulation refers to the withdrawal or cancellation of the company's license by the regulatory authority. In this case, JRFX's license was taken back by the FCA, resulting in the company operating without regulatory oversight. As a consequence, there may be increased risks for customers and investors, as unregulated entities typically lack the strict oversight and scrutiny that regulated firms adhere to.

JRFX has been labeled as a “Suspicious Clone” by The Chinese Gold & Silver Exchange Society, a regulatory authority in Hong Kong under the license number 084. This designation indicates that JRFX is operating in a manner that raises concerns about its legitimacy and authenticity.

The term “Suspicious Clone” refers to a company or entity that appears to be imitating or replicating a legitimate and regulated entity but lacks the necessary authorization or approval from the regulatory body. In the case of JRFX's regulation by The Chinese Gold & Silver Exchange Society, this means that the company is not recognized or sanctioned by the regulatory authority, and its operations may be unauthorized and potentially risky.

Pros and Cons

JRFX operates with a minimum deposit as low as $100, making it potentially accessible for traders with limited capital. The company offers different account types, providing traders with options that suit their individual needs. Additionally, JRFX provides a variety of tradable assets, including Forex, Commodity, Index, and US stocks, allowing clients to diversify their portfolios. The availability of multiple trading platforms, such as MT4 and a self-developed platform, offers flexibility and convenience to traders in their trading activities. Furthermore, the company provides educational content, like a trading beginners guide and a market newsletter, which can be beneficial for clients seeking to enhance their trading knowledge.

One of the major drawbacks of JRFX is its unregulated status. Being labeled as a “Suspicious Clone” by The Chinese Gold & Silver Exchange Society in Hong Kong raises concerns about the company's legitimacy and regulatory oversight. As a result, clients may face higher risks and a lack of investor protection when dealing with an unregulated entity. Moreover, some traders might find the available leverage ratios, such as Up to 1:1000, Up to 1:500, and Up to 1:200, as relatively high, which could potentially lead to increased risk and exposure to market fluctuations. Additionally, the absence of information on office locations and deposit/withdrawal methods may raise questions about the company's transparency and overall trustworthiness.

Market Instruments

JRFX offers a range of market instruments, including Forex, Commodity, Index, and US Stocks, allowing clients to access various trading opportunities.

Forex: JRFX offers Forex trading, providing clients with the opportunity to trade major currency pairs and potentially profit from fluctuations in exchange rates. The company's Forex market instrument includes a variety of currency pairs, offering traders options to speculate on global currency movements.

Commodity: JRFX allows clients to trade in the Commodity market, providing access to commodities such as precious metals and agricultural products. Traders can take advantage of potential price movements in commodities, diversifying their portfolios.

Index: JRFX enables trading in the Index market, giving clients the opportunity to speculate on the performance of various stock market indices. Traders can potentially profit from the overall direction of the stock market without having to invest in individual stocks.

US Stocks: JRFX offers US Stocks trading, allowing clients to trade shares of major US-based companies. Traders can potentially benefit from price fluctuations in the stock market and participate in the performance of renowned US companies.

Here is a table that compares JRFX to competing brokerages:

How to open an account？

1. After navigating to the JRFX website, search for the Create Account button at the top right of the page.

2. The first step would be to choose between Mobile number or Email authentication at the top of the Register now page.

3. Next step, would be to input the users name information and then a valid mobile phone number or email.

4. Input the verification code and confirm the device.

5.Last, fill in the e-mail link to login with the desired password and register.

Account Types

JRFX offers three account types: EasyPro Account, Standard Account, and ECN Account. The specifics of each account type are as follows:

EasyPro Account: JRFX offers the EasyPro Account, which requires a minimum deposit of $100. Traders using this account type can access leverage of up to 1:1000. The minimum spread for this account starts from 1.2 pips, and there are no handling charges. The position size ranges from 0.01 board lot to a maximum of 20 board lots. The order execution options include instant and market execution. The EasyPro Account also provides access to massive free analysis and educational materials.

Standard Account: JRFX provides the Standard Account option, which also requires a minimum deposit of $100. Traders can access leverage of up to 1:500 with this account. The minimum spread starts from 0.7 pips, and there are no handling charges. The position size ranges from 0.01 board lot to a maximum of 20 board lots. Similar to the EasyPro Account, order execution options include instant and market execution. The Standard Account offers traders massive free analysis and educational materials, as well as one-to-one service support.

ECN Account: For traders seeking more advanced options, JRFX offers the ECN Account with a minimum deposit of $10,000. This account provides leverage of up to 1:200. Unlike the other accounts, the ECN Account offers a zero spread. The transaction charge for each side is $3.50. The position size ranges from 0.1 board lot to a maximum of 30 board lots. The order execution for this account is exclusively market execution. Traders using the ECN Account can access massive free analysis and educational materials, as well as one-to-one service support and a free signal index.

The following is a table which side-by-side compares all of the account type's attributes:

Minimum Deposit

JRFX offers varying minimum deposit rates for its different account types. The EasyPro Account and Standard Account both require a minimum deposit of $100. On the other hand, the ECN Account demands a higher minimum deposit of $10,000. These minimum deposit rates cater to traders with different capital requirements and allow for flexibility in choosing the appropriate account type based on individual financial capacities.

Leverage

JRFX provides different leverage options for its account types. Traders using the EasyPro Account have access to leverage of up to 1:1000, while the Standard Account offers leverage up to 1:500. For traders seeking higher leverage, the ECN Account provides a leverage of up to 1:200. These leverage ratios enable traders to amplify their exposure in the market and potentially magnify their profits or losses based on their trading strategies and risk appetite.

Spread

JRFX offers different spreads for its account types. The EasyPro Account has a starting spread from 1.2 pips, while the Standard Account provides a starting spread from 0.7 pips. For traders looking for a zero spread option, the ECN Account offers a spread of 0 pips. The variety of spreads allows traders to select an account type that aligns with their trading preferences and risk tolerance, with potential benefits in terms of cost efficiency and competitive pricing for different market conditions.

Trading Platforms

JRFX provides two trading platforms, including the popular MetaTrader 4 (MT4) platform and a self-developed platform.

MT4 Trading Platform: JRFX offers the popular MetaTrader 4 (MT4) trading platform, which is widely recognized and preferred by many traders for its user-friendly interface and comprehensive charting tools. With MT4, traders can access a range of technical indicators, automated trading capabilities through Expert Advisors (EAs), and real-time market data, enhancing their trading experience and analysis.

Self-developed Trading Platform: In addition to MT4, JRFX provides a self-developed trading platform. While specific details about this platform are not provided, self-developed platforms often offer unique features tailored to the broker's offerings and may include customizable interfaces and specialized tools.

Below is a table comparing the trading platforms offered by JRFX and the other mentioned companies:

Customer Support

JRFX offers customer support through a contact number, email, and various social media channels, including Twitter, Facebook, and Instagram.

Contact Number: JRFX offers customer support through a contact number, and traders can reach the support team at +65 8372 7701.

Email: For inquiries and support via email, traders can contact JRFX at info@jrfx.com.

Social Media Channels: JRFX is accessible through various social media platforms, including Twitter (https://twitter.com/jrfx_official), Facebook (https://www.facebook.com/JRFX_official-104448608357379), and Instagram (https://www.instagram.com/jrfx_official/). Traders can connect with the company's official profiles on these platforms to stay updated on announcements, promotions, and potentially receive customer support through messaging.

Educational Resources

JRFX provides educational content through its YouTube channel, offering video tutorials, guides, and analysis, and also offers a comprehensive trading beginners guide on its website.

YouTube Channel: JRFX offers educational content through its YouTube channel, providing traders with video tutorials, guides, and analysis to enhance their trading knowledge. The YouTube channel serves as a valuable resource for both beginners and experienced traders, offering insights into various trading strategies and market trends. (https://www.youtube.com/channel/UCYqR9Pk5q0EK9WM4pis01lw？app=desktop)

Trading Beginners Guide: The company provides a trading beginners guide on its website under the Investor Services tab. This comprehensive guide offers fundamental information on trading principles, terminology, and market dynamics, helping new traders establish a foundational understanding of the financial markets.

Conclusion

In conclusion, JRFX provides unregulated trading services in New Zealand. Operating without regulatory oversight as an unregulated entity raises significant concerns about the level of investor protection and security it can offer to its clients. The absence of proper regulation leaves traders vulnerable to potential fraudulent activities, as there is no external authority monitoring the company's operations and ensuring compliance with industry standards.

The company offers various market instruments, including Forex, Commodity, Index, and US Stocks, presenting traders with opportunities to speculate on global financial markets. JRFX three account types including EasyPro, Standard, and ECN. Additionally, JRFX provides traders with two trading platform options: MetaTrader 4 (MT4) platform and a self-developed platform. Customer support is available through a contact number, email, and various social media channels like Twitter, Facebook, and Instagram. The company also offers educational resources, including a YouTube channel and a trading beginners guide on its website, allowing traders to expand their knowledge in the financial markets.

FAQs

Q: What types of trading accounts does JRFX offer？

A: JRFX offers EasyPro, Standard, and ECN trading accounts.

Q: What is the minimum deposit required to open an account with JRFX？

A: The minimum deposit for JRFX accounts ranges from $100 to $10,000.

Q: What leverage ratios can traders access with JRFX？

A: Traders can access leverage ratios of up to 1:1000, 1:500, and 1:200 with JRFX.

Q: How can traders get in touch with customer support at JRFX？

A: Traders can contact JRFX customer support through a contact number, email, and social media channels.

Q: What educational resources does JRFX provide to traders？

A: JRFX offers educational content through its YouTube channel and a trading beginners guide on its website.

Q: Is JRFX a regulated company？

A: No, JRFX is unregulated, and its status has been labeled as a “Suspicious Clone” by The Chinese Gold & Silver Exchange Society.