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JFD Bank Review
JFD Bank is a broker of forex trading services. They provide traders with access to a wide range of products across many markets, including currencies, indexes, stocks, and exchange-traded funds (ETFs). They provide a variety of energy, metals, and agricultural commodities to traders.
Pros
- Established in 2011
- Segregates client funds
- Regulated by CySEC
- Min. deposit from $500
Cons
- Not ASIC Regulated (See alternatives)
- Limited range of instruments
A minimum deposit of $500 is required to create a live account. Alternatively, JFD Bank provides a demo account that you may use to experiment and become acquainted with their platform.
CySEC (Licence: 150/11) regulates the company. JFD Bank keeps every customer funds in a separate bank account and works with tier-1 institutions to do so. JFD Bank was founded in 2011 and has its headquarters in Cyprus.
While we’re in the specifics of JFD Bank’s spreads, fees, platforms, and trading tools, you might also want to open their website in a new tab by clicking the button below to get the most up-to-date information.
Full disclosure: If you join up with a broker through one of our links, we may get a commission.
What are the spreads and fees at JFD Bank?
JFD Bank, like most brokers, charges a fee based on the spread, which is the difference between the purchase and sell price of an asset.
The commissions and spreads shown here are based on the JFD Bank website’s minimal spreads.
| Forex | JFD Bank | City Index | XTB |
| EUR/USD(Average: 0.7 pips) | 0.1 pips | 0.7 pips | 0.1 pips |
| GBP/USD(Average: 1.1 pips) | 0.7 pips | 1.7 pips | 0.1 pips |
| USD/JPY(Average: 1.1 pips) | 0.5 pips | 0.6 pips | 0.1 pips |
| AUD/USD(Average: 0.8 pips) | 0.6 pips | 0.6 pips | 0.2 pips |
| USD/CHF(Average: 2.3 pips) | 0.8 pips | 2.3 pips | 0.2 pips |
| USD/CAD(Average: 2.9 pips) | 0.6 pips | 0.5 pips | 0.3 pips |
| NZD/USD(Average: 3.6 pips) | 0.7 pips | 2.8 pips | 0.3 pips |
| EUR/GBP(Average: 2.4 pips) | 0.6 pips | 0.5 pips | 0.1 pips |
Spreads are dynamic and are just for informative purposes.
As you’ll see, JFD Bank’s minimum spread for trading EUR/USD is 0.10 pips, which is relatively low when compared to the average EUR/USD spread of 0.70 pips. The table below compares the cost of trading one lot of EUR/USD with JFD Bank to similar firms.
How much does JFD Bank charge for a lot of EUR/USD trading?
If you bought one standard lot of EUR/USD (100,000 units) with JFD Bank at 1.1719 and then sold it the next day at the same value, you would most likely pay $5.28. Here is a general analysis of the fees and how they compare to IG and XTB.
| JFD Bank | IG | XTB | |
| Spread from: | $ 1.00 | $ 6.00 | $ 2.00 |
| Commission: | $ 6.00 | $ 0.00 | $ 0.00 |
| Total cost of a 100k trade: | $ 7.00 | $ 6.00 | $ 2.00 |
| $1 less | $5 less | ||
| VISIT JFD Bank | VISIT IG | VISIT XTB |
All fees/prices are for informational purposes and are subject to change.
What markets can you trade with JFD Bank?
JFD Bank provides over various trading products, including over currency pairings. We’ve listed all of the numerous types of instruments offered by JFD Bank below, along with IG and XTB’s instruments for comparison.
| FX / Currencies | JFD Bank | IG | XTB |
| # of forex pairs offered | 64 | 90 | 48 |
| Major forex pairs | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | Yes |
| Exotic forex pairs | Yes | Yes | Yes |
| Cryptocurrencies* | Yes | Yes | Yes |
| Commodity CFDs | JFD Bank | IG | XTB |
| # of commodities offered | 7 | 34 | 21 |
| Metals | Yes | Yes | Yes |
| Energies | Yes | Yes | Yes |
| Agricultural | Yes | Yes | Yes |
| Index & Stock CFDs | JFD Bank | IG | XTB |
| # of stocks offered | 400+ | 8000 | 1606 |
| UK shares | Yes | Yes | Yes |
| US shares | Yes | Yes | Yes |
| German shares | Yes | Yes | Yes |
| Japanese shares | Yes | Yes | Yes |
| SEE JFD Bank’S INSTRUMENTS | SEE IG’S INSTRUMENTS | SEE XTB’S INSTRUMENTS |
What is the trading experience like at JFD Bank?
1) Platforms and apps
JFD Bank is among the few brokers that provides both the MetaTrader 4 and MetaTrader 5 platforms. To discover how the two systems differ, check out our MT4 versus MT5 comparison. They also have their own GUIDANTS platform.
They now provide mobile apps for Android and iOS, making it easy to monitor and make transactions while on the go.
Still unsure?
Open a practise account and begin learning to trade.
2) Executing Trades
JFD Bank trading platform allows as little as 0.01 Lot. This may differ based on the type of account you open. You can conduct a maximum of 1,000 Lot trades. Because they provide ECN and STP execution, you can anticipate very tight spreads and increased accountability in the price you pay to execute your trades.
JFD Bank, as a market maker, may have lower entrance criteria than an ECN broker, which benefits from a higher number of transactions and usually has higher capital and minimum trading requirements. Market makers generally have a lower minimum deposit, lower minimum trade requirements, and no trading commission.
Margin requirements vary based on the trader, account, and instrument. The most recent margin requirements may be seen on their website.
Finally, we’ve included a list of some of the most popular funding options available to JFD Bank traders below.
Trading Features:
- Allows hedging
- Offers STP
- Allows scalping
Accounts offered:
- Standard account
- ECN account
- Managed account
- Demo account
Funding methods:
- Credit cards
- Bank Transfer
3) Client support
JFD Bank offers support in a number of languages, including English, German, Russian, French, and Czech.
4) What you’ll need to open an account with JFD Bank
Because JFD Bank is regulated by CySEC every new customer should pass a few simple regulatory checks to ensure that you know the implications of trading and that you are permitted to trade. When you register an account, you will most likely be asked for the following information, so keep it handy:
- A utility bill or bank statement from the past three months showing your address
- A scanned colour copy of your passport, driving license or national ID
You’ll also have to complete a few basic compliance inquiries to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.
While you may be able to access their website immediately, it is essential to note that you will not be able to execute any trades until you pass compliance, which might take several days depending on your situation.
To begin the process of creating an account with JFD Bank, go to their website.
79% of retail investor accounts lose money when trading CFDs with this provider.
