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JustForex Review by ForexBrokersJournal.Com

JustForex Review

It was just a few months ago that I became familiar with JustForex. However I don’t remember how and where this becoming familiar happened. But since I like playing with brokers I decided to test it! Here I want to share the result of trading with JUSTFOREX.

About JustForex.Com

JustForex is a brand of IPCTrade Inc. which has been established in 2013 and started to work in Belize. This broker has been regulated by IFSC of Belize! Although these days many brokers succeed to achieve IFSC regulation but I myself have no idea about its credibility and monitoring power. If you are interested in knowing more about it you can go to following URL: http://www.ifsc.gov.bz

What I can say at the moment is I haven’t seen any bad review for this broker so far. This broker has been placed in the rank of 85 in Top 500 Forex Brokers List in Alexa and since it is only one year that they have just started to work it is not a bad rank.

Opening Account in JusrtForex:

When we open JustForex website, we will notice its main page has nothing more than other Forex brokers with this rank. Nor can we say it is bad nor can we say it is brilliant! All information a trader needs to know about the broker can be found easily and this is enough.

Now let’s see what are the account types JustForex offer to us?! If you select trading terms item from trading menu (I suggest them to rename it to account types) you can see all account types in JustForex.

There are 3 types of accounts in this broker: 1- A classic account which is 4 digit account and with variable spread. 2- A NDD account which is 5 digit account with floating spread and without commission and 3-An ECN account which is a 5 digit account with floating spread and with commission.

Maybe if JustForex had an account with fixed spread and also a cent account, it would be perfect and could meet any traders’ needs! Well I decided to open a classic account with them. I filled the registration form and soon after filling it, I was able to access my account control panel or as to JustForex to Back Office. This step was easy to handle and was not complicated and soon was finished.

Now let’s enter to back office to see how it goes.

To be honest justforex’s back office satisfied me.How? Because you can see all you want to know about the account in that part. You have the list of your accounts and can check your balance, equity and free margin. The leverage for each account is shown for you and you can change it at any given time. There are menus for funding your account , transfer funds between your accounts and making withdrawal and here you can easily add a new account at any time you wish.

Now before trying to make a deposit, from verification menu I uploaded my ID card and proof of address in order that my account be verified and be ready to be traded on.

Funding The Account:

After uploading my docs it took about 2 days so that I received an email saying my account has been verified. I think taking 2 days for verifying an account is a little bit much and can be less than that.

Now that my account has been verified, I enter back office to fund my account. You can deposit into your account using Visa/ Master card, Dixpay, Webmoney,PerfectMoney, Neteller or Wire transfer. I myself preferred to see Skrill method amongst these payment methods too. I chose Webmoney and made a 3000$ deposit with them. Unfortunately my account wasn’t automatically funded and this I didn’t expect! It actually took 2 hours for them to add funds to my account which off course is not a long time.

Spreads in JustForex:

Now that our account is funded and is ready to be traded on, it is time to take a look at the spreads in this broker. For doing this, like previous times I use our Advanced Spread Monitor to monitor spreads in different sessions separately.

EU SpreadsGbp/usd spreadUSD/JPY Spread
AUD/USD SpreadUSD/CHF SpreadUSD/CAD Spread

 

Fortunately although our account is a 4 digit account, but still the spreads are good and acceptable! The average spread on EUR/USD is about 1.49 pips and for GBP/USD is 2.76 pips! We have recorded minimum spreads, maximum spreads and average spreads in different trading sessions in the table below:

Pair

Asia

Europe

US

Total

Min

Max

Avr

Min

Max

Avr

Min

Max

Avr

Min

Max

Avr

EUR/USD

1.0

8.0

1.51

0.0

3.0

1.48

1.0

2.0

1.48

0.0

8.0

1.49

GBP/USD 

0.0

9.0

2.91

0.0

9.0

2.56

2.0

4.0

2.54

0.0

9.0

2.76

USD/JPY 

1.0

4.0

1.51

0.0

3.0

1.49

2.0

1.0

1.49

0.0

6.0

1.50

USD/CHF 

1.0

8.0

2.82

1.0

4.0

2.51

2.0

4.0

2.51

1.0

8.0

2.66

AUD/USD 

1.0

7.0

2.65

2.0

4.0

2.52

2.0

4.0

2.52

1.0

7.0

2.60

USD/CAD

1.0

7.0

2.78

2.0

4.0

2.53

2.0

4.0

2.52

1.0

7.0

2.64

Order Execution:

Justforex is employing market execution model for executing the orders, so naturally you wont receive any re-quote while ordering, but as to slippage! Although I rarely use pending orders but for 7 or 8 pending orders I made, I haven’t seen any slippage so far. In market orders, respecting order execution speed is high, rarely happened any slippage.

Order Execution Speed:

One of the fortes of JustForex is its fast execution so that can be said is about 300 m/s in average which although is not fastest but still good and acceptable. In the table below you can see the speed of order execution for 10 positions with different lot sizes:

OrderVolumeRequestedProcessedTime
GBP/USD4.015:27:04.48915:27:04.848359
GBP/USD3.011:46:27.76711:46:28.056289
GBP/USD2.007:28:13.50707:28:13.835328
GBP/USD3.009:13:36.68109:13:36.994313
GBP/USD2.010:00:52.77710:00:53.090313
EUR/USD2.017:36:52.34017:36:52.559219
GBP/USD1.009:53:04.45009:53:04.763313
GBP/USD2.510:47:35.59410:47:35.828234
USD/JPY1.014:29:57.26614:29:58.5781,312
GBP/USD1.010:29:59.59410:30:00.235641
—–—–—–—–—–
Average:0.432(S)

From 10 trades you see in the table above, the first 8 ones is for normal condition of market and the last 2 ones are for the moment economic news is published. As you can well see in normal condition the speed of executing the orders is about 296 m/s in average. If we reduce my ping to JustForex server which is 30-40 m/s from it, we will have the speed of about 260 m/s which is a satisfying speed.

And if you are a news trader and trade exactly at the moment of releasing economic news, you should prepare yourself that your order execution may took up to 2 seconds at times!

Client Support in JustForex:

Although I didn’t have any problem during my trades during this period, there were only few small problems which was solved by chatting with their live support! Their live chat support was friendly and helpful but the big problem is that they are not online 24 hours a day and most of the time there is no one to answer you online and this is a negative point for them.

Withdrawal with JustForex:

Fortunately during my trading with JustForex I was lucky and could earn about 12000 dollars profit for which I made withdrawal during a several sessions. At all sessions my withdrawals were done so quickly at most in 1-3 hours and it was so good and satisfying.

My Statement

Conclusion:

In conclusion what I conclude is that conditions in JustForex satisfied me and I didn’t face any problem. Spreads are tight, orders are executed fast, rarely see slippage in orders and they process withdrawals quickly.

But not having a 24 hours online live chat (or even quick replying of the emails), and not having a credible regulation are two negative points for which in case they are solved, it can make JustForex a recommended broker by us! Please share your experience trading in JustForex with us!

You can also read our user’s review about JustForex here!

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