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JFD Bank Account Types

JFD Bank_account types

 

Overall Rating

4.4/5

Rated #42 of
Recommended FX Brokers

💰Minimum Deposit

USD 500

🌐 Regulators

CySec, BaFIN, VFSC

📱 Trading Desk

Meta Trader 5

Crypto

Yes

📈 Total Pairs

60

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

JFD Bank account types are limited to one Standard account that can be registered through JFD Group Ltd. or JFD Overseas Ltd., which can be used as a demo account, and it has a unique set of conditions for commission, fees, margin calls, leverage, and minimum deposits.

JFD Bank is DMA and STP broker that was established in 2011 and is situated in Germany, Cyprus, and Vanuatu with respective regulations and authorization through BaFin, VFSC, and CySEC in offering online trading solutions and services.

As a multi-regulated and reputable online trading broker, JFD Bank offers traders more than 1,500 financial instruments over numerous asset classes which can be traded through powerful, reliable trading platforms.

JFD Bank makes provides a multi-asset, dynamic, and unique trading experience through its offering with continuous improvement to services occurring and the latest technology being continuously and consistently implemented to ensure that traders’ needs are met.

 

JFD Bank Account Types

JFD Bank provides traders with one single live trading account which can either be registered through JFD Group Ltd. or JFD Overseas Ltd.

This account has its own features based on the jurisdiction under which the account was opened and features dynamic and competitive trading conditions that cater to the varying needs and objectives of traders along with differing levels of trading experience.

 

Standard Account (JFD Group Ltd.)

The features of the JFD Banks Standard account types include:

  • Margin level of 100% and stop out level of 100%.
  • Negative balance protection offered on the live trading account.
  • Account base currencies of either USD, GBP, EUR, or CHF.
  • A minimum deposit of US Dollar 500.
  • Leverage according to ESMA, which means that EU clients may only have access to leverage of 1:30.
  • Hedging and scalping along with Expert Advisors allowed.
  • Access to both MetaTrader 4, MetaTrader 5, and Guidants.
  • Access to all tradeable financial instruments.
  • Commissions charged on CFDs, Forex, and Metals where there is none charged on physical stocks.

 

Standard Account (JFD Overseas Ltd.)

The features of the JFD Banks Standard account types include:

  • Margin call level of 125% and stop out level of 50%
  • Account base currencies of either USD, GBP, EUR, or CHF.
  • A minimum deposit of US Dollar 500.
  • Maximum leverage up to 1:400.
  • Hedging and scalping along with Expert Advisors allowed.
  • Access to both MetaTrader 4, MetaTrader 5, and Guidants.
  • Access to all tradeable financial instruments.
  • Commissions charged on CFDs, Forex, and Metals where there is none charged on physical stocks.

 

Commissions Charged on different financial instruments are as follows:

  • Forex – US Dollar 0.03 or currency equivalent.
  • Precious Metals – US Dollar 3.0 or currency equivalent.
  • CFDs on Stocks (France, Germany, Netherlands, and Spain) – 0.05% of the order volume with a minimum ticket charge of 5 EUR.
  • CFDs on Stocks (United Kingdom) – 0.05% of the order volume with a minimum ticket charge of 5 GBP.
  • CFDs on Stocks (United States of America) – 0.05% of the order volume with a minimum ticket charge of 5 USD.
  • CFDs on indices and commodities – US Dollar 0.10 or currency equivalent.
  • CFDs on ETFs – 2.4 cents per share or a minimum ticket charge of 5 USD.

 

JFD Bank Demo Account

JFD Bank offers traders the option of opening a demo account which can be utilized in various ways, including, but not limited to the following:

  • A practice account for beginner traders who wish to improve their trading skills and experience in a risk-free environment using virtual funds.
  • Traders who are evaluating and comparing brokers who would like to explore JFD Bank’ trading conditions in a risk-free environment, and
  • Traders who wish to test their trading strategies in a mimicked live trading environment without risking their capital.

 

JFD Bank’s demo account sign-up is fully digitalized and hassle-free. It can be done within a few minutes and as soon as the trader is registered, demo trading can commence once the trading platform designated for the demo account has been downloaded on either:

  • Desktop PCs that use Linux, Windows, or macOS, or
  • Mobile devices such as tablets and smartphones that run Android or iOS operating systems.

 

Alternatively, traders can easily access the trading platforms from their web browser and use their credentials to sign into their JFD Bank Demo Account using the designated trading platform’s WebTrader.

 

JFD Bank Islamic account

The purpose of an Islamic account is that it caters specifically to Muslim traders who strictly follow Sharia law, which prevents its followers from paying any interest, such as overnight fees, which is seen as wasteful or exploitive.

Overnight fees are charged should traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should they hold positions open for longer.

 

JFD Bank does not offer Muslim traders the option of converting their live trading account to that of an Islamic Account when trading which will result in Muslim traders being subjected to swap, or overnight fees.

When trading using the JFD Bank live trading account, Muslim traders must ensure that all positions are closed by the time the trading day concludes to avoid being subjected to such fees, which are strictly prohibited by Sharia law.

 

The diversity provided by these accounts ensures that traders have access to a trading environment that is competitive and cost-effective in terms of trading and non-trading costs.

JFD Bank traders are given the edge they need to facilitate their trading activities regardless of their level of skills, knowledge, and experience.

 

Overall Rating

4.4/5

Rated #42 of
Recommended FX Brokers

💰Minimum Deposit

USD 500

🌐 Regulators

CySec, BaFIN, VFSC

📱 Trading Desk

Meta Trader 5

Crypto

Yes

📈 Total Pairs

60

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

JFD Bank designs each account based on the needs of different types of traders.

Now that you know what to expect in terms of the account types offered by JFD Bank, let’s look at some of the pros and cons of trading with them.

 

Pros and Cons

✔️Pros ❌Cons
Strictly regulated No US Clients
Member of the ICF Fixed spread accounts not offered
MAM Accounts provided High minimum deposit
Mirror trading offered
Competitive trading conditions
MetaTrader offered
Discounted VPS access provided
Physical stocks offered

 

JFD Bank provides traders with competitive and comprehensive trading conditions, tailored to the needs of various traders despite their level of understanding and expertise.

To conclude this article, here is a brief overview of JFD Bank containing all essential information:

 

JFD Bank at a Glance

Broker’s Name JFD Bank
Headquartered Germany, Cyprus, Vanuatu
Year Founded 2011
Regulating Authorities BaFin, CySEC, VFSC
Countries not accepted for trade United States
Islamic Account (Swap Free) No
Demo Account Yes
Institutional Accounts Yes
Managed Accounts Yes
Maximum Leverage 1:400
Minimum Deposit US Dollar 500
Deposit Options
  • Bank Wire Transfer
  • Sofort (not available to some countries)
  • Skrill
  • Neteller
  • SafeCharge
Withdrawal Options
  • Bank Wire Transfer
  • Sofort (not available to some countries)
  • Skrill
  • Neteller
  • SafeCharge
Platform Types MetaTrader 4, MetaTrader 5, Guidants
OS Compatibility Web browsers, Windows, macOS, Linux, Android, iPhone, tablets, iPads
Tradable Assets Forex, precious metals, physical stocks, CFDs on indices, commodities, stocks, cryptocurrencies, ETFs, ETNs
Languages supported on Website English, German, French, Italian, Spanish, Portuguese, Bulgarian
Customer Support Languages Multi-lingual
Customer Service Hours 24/5

 

Conclusion

JFD Bank offers one flexible account designed for many types of traders, which can be used with MT4, MT5 and Guidants, and this account can also be used as a demo account.

To find out more about JFD Bank, read one of the articles below.

 

Good luck with your trading!

 

You might also like: JFD Bank Sign up Bonus

You might also like: JFD Bank Demo Account

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You might also like: JFD Bank Minimum Deposit

 

FAQs

Trading Environment

How many instruments can I trade with JFD Bank?

You can trade the following instruments:

  • Forex
  • Precious metals
  • Physical stocks
  • CFDs on Indices
  • CFDs on Commodities
  • CFDs on Stocks
  • CFDs on Cryptocurrencies
  • CFDs on ETFs, and
  • CFDs on ETNs.

Which platforms are supported by JFD Bank?

MetaTrader 4, MetaTrader 5, Guidants.

Does JFD Bank offer leverage?

Yes. Retail clients have access to leverage of up to 1:400 when registering an account with JFD Overseas Ltd.

What spreads can I expect from JFD Bank?

Spreads from as little as 0.0 pips.

Does JFD Bank charge commission?

Yes. Commissions are charged according to the financial instrument and start from US Dollar 0.03 when trading Forex.

Are there additional charges on the Islamic account?

No. JFD Bank does not offer Muslim traders the option of converting their live trading account into that of an Islamic Account.

Is JFD Bank regulated?

Yes, JFD Bank is regulated by the highly reputed CySEC in Cyprus, BaFin in Germany and VFSC in Vanuatu.

Is JFD Bank a recommended forex trading broker for experts and beginners?

Yes. JFD Bank caters to both beginners and experts.

What is the overall rating out of 10 for JFD Bank?

8/10.

 

Accounts

What is the difference between a demo and a live trading account?

A Demo Account is a risk-free account that is funded by virtual money and allows traders to either practice trading, explore the broker’s offering, or test trading strategies in a mimicked live trading environment.

Does JFD Bank offer a demo account?

Yes.

For how long is the demo account valid?

The generally accepted validity of the demo account is 30-days.

Does JFD Bank offer the option of an Islamic Account?

No. JFD Bank does not offer Muslim traders the option of converting their live trading account into that of an Islamic Account.

Which live trading accounts does JFD Bank offer?

JFD Bank only offers one type of account and depending on the trader’s country of residence, the account will be either with JFD Group Ltd. or JFD Overseas Ltd.

What are the available deposit currencies for a live trading account?

  • USD
  • GBP
  • EUR, and
  • CHF

 

Deposits and Withdrawals

What is the minimum deposit for JFD Bank?

US Dollar 500.

How do I make a deposit and withdrawal with JFD Bank?

  • Bank Wire Transfer
  • Sofort (not available to some countries)
  • Skrill
  • Neteller
  • SafeCharge

Does JFD Bank charge withdrawal fees?

No. Traders, however, need to take note of possible fees that may be waived by their banking institutions with the transferring of funds to and from their trading account.

How long does it take to make a withdrawal?

This will depend on the method through which withdrawals are made along with the process involved and generally it can take between one and several business days.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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