JFD Broker Review - Overview
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Just, Fair and Direct. JFD is a CFD Broker that has its guiding vision in the letters of its name, and with this broker it is true to say that it is more that just paying lip service. JFD operate a Direct Market Access (DMA), Straight Through Processing (STP) model - what is sometimes known as Agency Only - in order to win the trust of traders by doing the right thing. They are an MT4 / MT5 broker primarily and have a very wide range of products to trade. Spreads are low as they have over 20 liquidity providers competing in their liquidity pool to provide the best prices.
They have a particular specialism in automated trading, providing a variety of advanced tools to help robot traders, including access to AgenaTrader, a tool enabling you to create and run trading robots with no prior coding knowledge!
JFD make their money on a commission that is about industry average, and overall trading works out cheaper than many spread-only brokers. This is a high-quality broker for traders looking for a professional service with total transparency.
JFD Broker Review - CFD Products and Spreads
Unusually for an MT4 focussed broker with no proprietary front end, JFD offer a tremendous range of tradable products outside of the core Forex offering that you’d expect. There are a number of exotic currencies that you can trade with them, but also metals, indices, bonds, commodities and a very extensive list of equities. You can trade more complex products such as Futures CFDs and even ETFs if you wish. Their offering is comparable to some of the British market-maker CFD brokers like ETX or LCG, in terms of its breadth, but of course you get the added benefit of an Agency-Only broker model with JFD.
Their spreads appear to be passed directly on from the cheapest liquidity provider without markup. They are very direct (as you’d expect!) with where they are making their money - it is on the commission that they charge. This varies on a product to product basis, but appears to be industry average (£2.50 per full lot in Forex for instance). The commission obviously scales up and down depending on the size of your trades but is always reasonable and a low proportion of your trade.
In terms of MT4 brokers, and STP brokers in particular, JFD compare very favourably with the competition when it comes to Product range, with over 500 tradable instruments. They are pretty normal when it comes to price - a Premium service at an Average price!
JFD Broker Review - Interface and Platform
JFD are primarily an MT4 platform, operating what they call MT4+. When you open an account with JFD you will download MT4 in the normal way, but they have included a number of proprietary add-ons - hence the ‘+’! These add-ons are way beyond a marketing gimmick - they truly add a lot of value. There is a market depth feature and a chart-trading feature, sentiment indicators and Excel connectivity, and lots more. Credit to JFD - they have put together a unique and powerful package for their traders.
JFD seem committed to offering the latest platforms and have added MT5+ and AgenaTrader to their clients. The '+' in MT5+, similar to MT4+, represents the extra features that they have added on to the standard MT5 package.
AgenaTrader further enhances their automated trading package. It utlises pre-set automated trading rules, meaning you can create trading robots with no coding knowledge - right from your broker!
In addition to to the above they offer Guidants, a (currently) German language only platform that is highly customisable and with social trading functionality.
JFD Broker Review - Service
The service that JFD offer is at the heart of their identity as a broker. On a basic level this is the DMA/STP nature of their model, but beyond this they have a 24/5 customer support team. The usual phone, email and live chat offering is there and with offices all around Europe and the wider world you are sure to find someone to speak to in your own language. As an Agency Model broker, JFD have an incentive to keep you happy and actively trading. They don’t want you to be a losing trader as they don’t make money from your losses because they are not a market maker, so they have an interest in helping you be educated and profitable. The tighter profit-margins of STP brokers can be a hindrance, and the £5 inactive trader charge (for not trading in a given month) is a result of the cost of the delivering the service. But, if you are trading actively, then this won’t impact you. JFD were the first to send out post-trade reports that add another layer or transparency and service.
JFD Broker Review - Safety
JFD are regulated in their home country of Cyprus under CySec and are registered with the British, German and French regulatory bodies. They segregate client funds and are members of the Investor Compensation Fund (ICF). This should see you covered to €20,000 if something goes wrong with JFD and they are unable to pay you back what you are owed - which is unlikely due to the segregated client funds.
JFD Broker Review - Conclusion
JFD is a CFD broker founded by professional traders with the express purpose of providing transparent true DMA / STP trade processing. Their ‘agency only’ model means that you have zero conflict of interest with JFD and by using 20+ liquidity providers, including Tier 1 banks, they can ensure that you are getting a great price as well as fully anonymous trading. Their MT4+ platform goes beyond the functionality offered by a basic MT4 broker and adds another dimension to their offering. CFD Traders looking for a professional MT4 setup with true NDD broking will do well to consider JFD.
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