Justforex Review

JustForex Platforms

MT5

MetaTrader 5 (MT5) is a professional trading platform with powerful tools for charting, trading, fundamental and technical analysis. The MT5 investment platform is fast, flexible and supports numerous trading styles and strategies. Developed by ‘MetaQuotes Software Corporation’ in 2010, MT5 is widely used by millions of traders across the world. JustForex only provides the MT5 desktop version.

Here are some of the key the features of the MT5 trading platform:

• Charts of all the instruments can be displayed on 21 timeframes.
• Multiple order types including pending orders and execution orders.
• 38 technical indicators are inbuilt into the MT5.
• 44 graphical objects used for analysing charts.
• Access to the MetaTrader market and forum.
• Automate your strategies by building your own Expert Advisors (EAs).
• Access to use VPS services to improve speed and reliability.
• Depth-of-Market feature.
• Economic Calendar is inbuilt into the platform.
• Price alert notifications via SMS, email and platform pop-ups.

MT4

MetaTrader 4 (MT4) is the older version of the MetaTrader platform. The MT4 platform was developed in 2005 by the same MetaQuotes Software Corporation. It has remained the most popular platform despite having a successor in the MT5. Reasons for this include the simplicity of MT4, the large number of brokers who offer it and because of compatibility issues as there are already thousands of trading systems built for MT4 that cannot run on MT5. The MT4 platform is equally a sophisticated platform loaded with powerful tools for conducting detailed chart analysis and trading. It is well known for its short learning curve and user-friendly interface. JustForex provides all the versions of the MT4 namely:

• MT4 WebTrader: It requires no downloads or installations because it runs on web browsers which makes it compatible with all operating systems and all devices.
• MT4 Desktop: This version is the main version that incorporates the full features of the MT4. It is downloadable on Windows operating system.
• MT4 Mobile: This version is available on Android and iOS devices.

Here are some of the key features of the MT4 investment platform:

• Intuitive, customisable and fast trading platform.
• Displays the fluctuating prices of all the instruments in real time via the market watch window.
• Analyse the charts with 30 inbuilt technical indicators and 24 analytical tools.
• Display your charts over 9 timeframes from 1 minute to 1 month.
• Supports automated trading via Expert Advisors (EAs).
• Strategy tester for back testing EAs over historical data.
• Purchase EAs, indicators, trading signals and other tools from the MetaTrader market which is available via a tab on the MT4 platform.
• Built in MetaEditor to programme MQL customised indicators, scripts, EAs, etc.
• Alert notifications via email, SMS and platform pop-ups.

JustForex Trading Tools

MAM Account

MAM is a solution for JustForex money managers who wish to trade on behalf of investors and for investors who wish to authorise money managers to trade their accounts. JustForex provides the Multi Account Manager (MAM) software which enables money managers to manage and trade several accounts at the same time. The managers operate a master account and receive commissions from any profits they make. Investors can monitor the performance of the money manger on his account but cannot trade. Investors can add or remove MAM whilst past performance should not by any means be a guarantee of future performance.

Social Trading

JustForex supports social trading via the MT4 trading platform. Social trading enables traders to replicate the strategies of other expert traders by copying their trades onto their own trading account. The experts are the signal providers; they are rated based on their performance statistics. Traders have the opportunity of choosing and following the signals of any provider they choose based on their performance data. The signal provider can earn a percentage of any profits made while the investor can copy signals without trading or even knowing how to trade. It should be strongly noted that there is absolutely no guarantee on the performance of these signals and historical results are not a reflection of future results.

Virtual Private Server (VPS)

A VPS is powerful virtual computer that can be used to run your trading platforms 24/7. It is normally needed by traders who require uninterrupted connections to the trading servers. EA users, social trading investors and traders who use some other sophisticated trading systems often need a VPS. They are widely regarded as being readily available, reliable and very fast. VPS subscriptions can be made from the MetaTrader platforms as there are several providers.

Economic Calendar

This tool shows thousands of upcoming economic events from over 50 countries. The impact of these events is classified accordingly as low, medium or high. The analyst consensus is shown as a percentage and the previous impact percentage is also shown. Clicking on an event will show its detailed analysis and chart. The calendar can be customised to suit the traders’ favourite events.

Analytics

This section of the JustForex website consists of:

• Market Overview: This sub section is updated every week day. It looks at the market movements of the assets including the economic news feed.
• Daily Forecast: This gives a daily analysis of some of the major pairs using technical and fundamental analysis methods. It ends with trading recommendations.
• Technical Analysis: This uses technical indicators and chart patterns to give analysis especially on major currency pairs.
• Market News: Gives the news from the markets. It is not regularly updated.
• Cryptocurrency Analysis: Gives a periodical analysis of the cryptocurrencies especially Bitcoin.
• Stock Market analysis: It gives the analysis of the most popular stocks.

JustForex Education

Forex Articles

This section of the JustForex website contains over 55 articles on forex trading. The articles focus on beginners by introducing forex trading, terminology, trading best practices and money management strategies. Then, the articles gradually move towards conducting market analysis and then focus on the different technical indicators. Generally, the forex trading articles are well written with examples and illustrations.

Trading Glossary

The glossary contains over 70 forex/CFD trading terminologies and their detailed definitions. This can help users familiarize themselves with some of the more popular trading terms.

Educational Videos

JustForex offer a total of 5 trading videos teaching traders how to use some special functions in the MetaTrader platform such as:

• Choosing a trading signal in the MT4 or MT5 platform.
• Purchasing a robot or indicator from the Market within MetaTrader.
• Creating a ‘Trading Robot’ in the MetaTrader without writing codes.

 

JustForex Instruments

The following instruments are available for trading online with JustForex:

• 84 Major, Minor Exotic Forex Currency Pairs
• 4 Metals
• 7 Cryptos
• 11 Indices
• 2 Energies
• 65 Share CFDs
• 25 Futures

JustForex Accounts Fees

Mini Account

There is no minimum deposit. The account currency can be in USD, EUR, MYR, IDR, THB, VND, KWD, CNY or ZAR. The maximum leverage is 1:3000 and the spread starts from 0.3 pips.

Cent Account

This account is denominated is cents which is a subdivision of the USD. The maximum leverage is 1:1000 and the spread starts from 0.3 pips.

Standard Account

The minimum deposit is $100 and the maximum leverage is 1:3000. The spread starts from 0.1 pips. Only 57 forex and 2 metal assets can be traded from this account.

Pro Account

The minimum deposit is $500 and the spread starts from 0.1 pips. The maximum leverage available is up to 1:3000. This is the flagship account that can trade all the available instruments.

ECN Zero Account

The minimum deposit is $500 and the spread starts from 0 pips. The maximum leverage is 1:500 and commissions are charged on trades. Only forex, metals and cryptocurrencies can be traded on this account.

Demo Accounts

Demo accounts are free and unlimited on both the MT4 and the MT5 platforms. A demo account can be a good way for a trader to familiarise themselves with the different trading platforms available and to practice different trading strategies.

Swap-free accounts that are Muslim friendly and confirm to sharia law are available on all account types.

As broker fees can vary and change, there may be additional fees that are not listed in this JustForex review. It is imperative to ensure that you check and understand all of the latest information before you open a JustForex broker account for online trading.

JustForex Support

The JustForex client support desk speaks English, Indonesian and Malaysian languages. The English support phone lines are available 24/7 while the other languages are available 24/5. If you wish to be called by the support team at a convenient time for you, then, fill the ‘call back request’ form on the website. There are several options for chatting with a customer care representative. They are: Telegram, WhatsApp, Skype, Facebook messenger, Viber, Instant web chat and LINE chat. The support team can also be reached via email and on social media through Facebook, Instagram, Twitter, LinkedIn and Telegram.

JustForex Deposit Withdrawal

• Credit/debit cards: Visa, MasterCard and China UnionPay cards are accepted. The minimum deposit is $5 while the maximum deposit $10,000 and maximum withdrawal is $2,000. Deposits are free while withdrawals are charged at 2.4% + $2.5. Card deposits are instantly processed while withdrawals take up to 5 days.
• Online payments: The online payments acceptable are FasaPay, Alipay, Skrill, Neteller, SticPay, Perfect Money, and QIWI. Deposits are free but withdrawal fees of 1% or less are charged depending on the method used. Online deposits are processed instantly while withdrawals can take 1-2 hours. Payment processors may also charge fees of their own that you should be fully aware of.
• Local transfer: JustForex accepts local transfers from the countries where they have offices or representatives like South Africa, Nigeria, Ghana, Vietnam, Thailand, Malaysia, Indonesia, etc. There are no deposit fees but withdrawal fees are charged depending on the currency.
• Crypto Payments: JustForex accepts Bitcoin and Bitcoin Cash payments. Payments in cryptocurrencies are free of both deposit and withdrawal fees and are processed within 2 hours.

JustForex Account Opening

To register an account with JustForex, visit the website and click on the ‘registration’ button to reveal the ‘back office registration’ form.

Fill the form and click on ‘Register’. The back office creation confirmation message displays. Another form with the title ‘Open First Account’ displays. Fill the account type, base currency, leverage, password and click ‘open account’. You are immediately logged into the clients’ area.

From the clients’ area, more accounts can be created, verification documents can be uploaded and deposits/withdrawals can be made. Once the trading account is verified, you can commence trading online using the provided investment platforms.

JustForex Summary

JustForex is a broker that attracts traders by offering very high leverage, reasonable execution speeds and competitive spreads. They offer a range of flexible account types which are provided to cater to the differing needs of new and experienced traders. To further support beginners, a large number of training articles are provided. Demo accounts with virtual funds are also available for practising trading online.

The broker offers social trading platforms and MAM accounts which are useful for those who wish to provide trading signals and investors who wish to copy the signals without trading by themselves. JustForex also provide some trading tools like the daily forecast and technical analysis which can equip traders and help to inspire trading ideas when approaching the markets.

One major area where JustForex needs improvement is in the area of regulation. Most traders consider the European, Australian and American regulatory agencies more respectable than that of offshore regulators. In fact, most experts advise against trading with offshore brokers at all. For this reason alone, we would not choose JustForex with so many other reputable and regulated forex brokers to choose from.