Our JAFX Review
JAFX is an online trading platform that was established in 2016. Users have access to a single account type, which can be opened with a minimum deposit amount of $10. On JAFX, users have access to leverage of up to 1:500. They were amongst the first online brokers in the world to offer trader access to the 24/7 global crypto trading market.
JAFX Account Types
JAFX supports a single account. To open a trading account, simply visit the home page and click on βOpen Accountβ in the top right corner. You will be asked for your name, email address, and a unique password. The platform also requires users to submit KYC documents as proof of identity and address. It can be a utility bill, national ID, or Passport. For those who wish to open a custom tailor-made account, they should consider contacting customer support. JAFX states that they are open to such an arrangement. The account can also be opened as an Islamic Account, which complies with the requirements of Islamic law.
Tradable Instruments
Traders using the JAFX platform can trade on various asset classes including most fx major, exotics, and minors, commodities such as metal and energies, CFDs on leading indices such as the UK100, NAS100, JPN225, GER30, crypto, and CFDs on stocks. Via JAFX, traders can make trades on stocks of leading firms such as Apple, Amazon, AIG, BBVA, and Boeing. The platform offers one of the most comprehensive lists of crypto pairs by an online broker. Traders have access to crypto-fiat and crypto-crypto trading pairs on JAFX.
Deposits and Withdrawals
Traders on JAFX can deposit funds to their account in Bitcoin or using a debit or credit card. The platform also allows users to make withdrawals using these methods. There is a minimum deposit amount of $10 or the equivalent when using BTC. JAFX does not charge users any deposit or withdrawal fee. However, a network fee will apply when making transactions in BTC. The speed of deposits and withdrawals when using BTC can take up to 6 hours, depending on the network speed.
Trading Platform
Users of JAFX have access to the reliable MT4 platform as a mobile app for iOS and Android devices as well as a desktop application. The MT4 platform can also be accessed via WebTrader using a modern web browser. MT4 gives traders access to a wide array of tools and features including charting tools, the ability to set multiple timeframes, the ability to make automated trades using expert advisors, and much more.
Education Material
JAFX does not offer users any educational material. However, they have a comprehensive FAQ section that will answer any questions that users might have.
Demo Account
JAFX allows users to open an unlimited Demo Account with the demo account, users do not need to sign up for a live account or deposit any funds. The Demo Account can be accessed by opening the WebTrader or downloading the MT4 desktop app and opening an MT4 account.
Customer Support
Customer support can be accessed by filling out a contact form, via live chat, or via phone call. Those that fill out the contact form have the option to attach any documents that may help to explain their issue.
Summary
JAFX is a great online broker, especially for those looking for a platform that offers comprehensive support for crypto trading. Traders have access to 30 crypto coins and the ability to deposit funds in Bitcoin. It also offers traders access to the MT4 platform and access to numerous trading instruments. JAFX is an awesome platform for both newbies and experienced traders.