Introducing JFD Bank

JFD Group was founded in 2011 by professional traders to address the lack of transparency affecting trading. The company’s main office is located in Cyprus, with additional offices in countries such as Bulgaria and Spain. Additionally, it has a subsidiary based in Germany. Most recently JFD Group acquired a German investment bank, namely JFD Bank. In general, JFD Group offers trading and investment, research and institutional services for its clients. It has been a recipient of more than 40 awards throughout its history as a trading services provider. “JFD Bank” is a brand name and registered trademark owned and used by the JFD Group of Companies which includes JFD Group Ltd, regulated by CySec (Cyprus Securities and Exchange Commission) with License Number 150/11, JFD Bank AG regulated by BaFin (Federal Financial Supervisory Authority) with License Number 120056, and JFD Overseas Ltd regulated by VFSC (Vanuatu Financial Services Commission) with License Number 17933.

JFD Bank at a glance

BrokerJFD Bank (jfdbank.com)
Year founded2011
RegulationCySec (Cyprus Securities and Exchange Commission), BaFin (Federal Financial Supervisory Authority), and VFSC (Vanuatu Financial Services Commission)
Asset CoverageStocks, Physical Stocks, Cryptocurrencies, Commodities, Indices, ETF’s/ETN’s, Currencies, Precious Metals
Trading PlatformsMeta Trader 4, Meta Trader 5, Guidants Trading Platform
Mobile TradingYes
Demo AccountYes
Minimum Initial Deposit500 USD/GBP/EUR/CHF
LeverageUp to 30:1 for most EU countries, for retail trading accounts

JFD Bank Asset Coverage

JFD Bank offers 1,500+ instruments across 8 different asset classes. The asset classes JFD Bank offers to trade are Stocks, Physical Stocks, Cryptocurrencies, Commodities, Indices, ETF’s/ETN’s, Currencies, Precious Metals. Specifically, they offer CFD’s on 15 different Indices, 400+ Shares, 2 Commodities (Brent and WTI), 21 ETF’s and 4 ETN’s, 600+ physical stocks from USA, Germany, Netherlands, France, and Spain, 5 Cryptocurrencies, and 66 Major, Minor and Exotic Currency & Precious Metals pairs. Moreover, JFD Bank offers DMA (Direct Market Access) for all the different asset classes.

JFD Bank Account Types

JFD Bank offers two different account types: retail and professional. Retail accounts have a leverage of up to 30:1 and are available for most retail traders. You can also apply for a professional account and get access to much higher leverage, reduced margins and more. However, qualification is necessary for this. The minimum deposit for private retail accounts is 500 EUR/USD/GBP/CHF.

Opening an account at JFD Bank

Opening an account with JFD Bank is pretty straightforward, and, as with most brokers, the process only requires an internet connection and a laptop.

Firstly, you will need to select the trading platform you will want to be using. Options (as we will later cover) are MetaTrader 4, MetaTrader 5 (includes the option to trade physical stocks), and Guidants Trading Platform (currently available only in German). Secondly, you will need to provide your basic contact information, such as name, email, date of birth, address, TIN (Tax Identification Number), etc. Third, you will need to provide financial information, such as how much you earn, your savings, etc. Fourth, you will be asked to provide information on your trading knowledge and experience. You will be able to select if you would like to trade US physical stocks in this step. Lastly, you will need to accept some additional legal documents.

After that’s done, the final step is to verify your identity and residency. Your identity can be verified by uploading a copy of the page in your passport which has your picture on it. Whereas your residency can be verified by providing one of the following documents: telephone bill, electricity bill, heating bill, credit card statement, bank statement or current local authority tax bill. These documents can be sent either by email or uploaded via the link. You will also be asked to verify your email address by clicking the confirmation link which will be sent to your email.

Once you have completed those steps, you will wait for your verification process to complete. While this can take up to a few business days, it is usually done within the same or the next business day.

Deposit and Withdrawal at JFD Bank

JFD Bank offers 4 base currencies: EUR, USD, GBP, CHF. You will be able to open an account using one of those 4 currencies. JFD Bank generally differentiates between 2 types of transfers: Online payment solutions, and wire transfers. With wire transfers, deposits and withdrawals are free. However, online payment solutions, which are credit cards and bank wallets, are not. The fees for online payment solutions withdrawals and deposits are in the range of 1-3% of the amount deposited or withdrawn.

The minimum initial deposit is 500 EUR/GBP/USD/CHF and there is no minimum deposit other than the initial minimum deposit. It generally takes up to 24 hours for deposits to reach the account if you are using online payment solutions. For wire transfers, it depends on your bank and can take up to a few business days. Withdrawals to a European bank usually require 3 – 5 working days to be credited. Withdrawals using online payment provider Skrill/Neteller will be credited within 24h from receiving the withdrawal request.

Spreads, Commissions, and Fees at JFD Bank

JFD Bank makes a living by charging you a tiny spread, and a small commission. Spreads on the EURUSD are on average only 0.1 pips. And in addition, as mentioned, for Forex, JFD Bank offers Direct Market Access (DMA), which has many benefits including much-reduced latency while making trades, and zero requotes or rejections. Moreover, JFD Bank offers Zero Commission Physical Stock and CFDs on Cryptocurrency Trading. That is, you pay zero commission on physical stocks and CFDs on cryptocurrencies. Other commissions can be summarized in the following table:

JFD Comissions

Forex commissions are quoted at 1 Microlot per side. Precious Metals commissions are quoted at 1 Lot per side. Stock CFDs are quoted per side. Commodity, Indices and ETF’s CFD’s commissions are quoted at 1 lot per side. * cps = cents per share.

JFD Bank Trading Platforms

JFD Bank offers two main platforms for most traders. They are MetaTrader 4 and MetaTrader 5. However, those MetaTrader 4 and MetaTrader 5 platforms come with a whole lot of addons and extensions. Additionally, 2 other platforms are available: Guidants Trading Platform (Germany only), and Stereo Trader (for an additional 29.90€ per month). The enhanced versions of MetaTrader come loaded with exclusive proprietary and institutional-grade add-ons, designed to make your trading smarter, easier, and with increased performance. The desktop versions feature a variety of Indicators and Expert Advisors, as well as the full range of JFD’s trading tools. Let’s take a quick look at the MetaTrader 4, MetaTrader 5 platforms that are available to most traders. Additionally, let’s take a look at the addons available for MetaTrader 4 and MetaTrader 5.

MetaTrader 4

MetaTrader 4 was designed specifically for Forex traders and has been out for quite a while now. However, JFD has made it possible to integrate in it and make it possible to trade not only FX but far beyond. It allows trading on 9 different timeframes, has 30 built-in indicators, and a very large database of free custom indicators. It is the most famous version of MetaTrader. MT4 uses MQL4 (MetaQuotes Language 4) for its programming and algorithmic trading needs, and a very large database of ready-made scripts are available in the MT4 community.

MetaTrader 5

MetaTrader 5 was designed to accommodate trading in many different asset classes, rather than only in Forex. It comes with many useful additional features, such as 12 additional timeframes (21 total), economic calendar, more built-in indicators, and analytical objects, depth of market (DOM) and offers the new MQL5 language for programming and algorithmic trading needs.

It is superior to MetaTrader 4 in many ways, however since there is already a large database of scripts available for MT4 in MQL4 (which is not compatible with MT5), many prefer to stay with the older version of MetaTrader.

MetaTrader +, and additional tools/addons

MetaTrader 4 and MetaTrader 5 platforms come with an additional arsenal of features and addons. They are Institutional grade trading tools and exclusive add-ons, a wide variety of indicators and EAS for free and from third parties, extensive chart history for all available symbols, backtesting for improving your strategy, the ability to receive JFD company news within the platform itself.

Some of the additional features and add-ons are:

  • Trade terminal: monitor and place orders on multiple instruments available at a glance.
  • Mini terminal – the depth of market: in a compact window, the Mini Terminal enables you to do all important trading tasks in the blink of an eye.
  • Mini terminal chart trader: set or amend Limit Orders, as well as Take Profit and Stop Loss limits in a fraction of a second, directly on the platform’s charts.
  • Excel RTD: build your own analytical trading dashboard using the Excel RTD Add-On. This useful tool enables you to receive real-time data in 3 different pre-set Excel spreadsheets displaying important information, including account equity and balance, incoming ticks, instrument prices, consolidated lists of open positions, and more.
  • Stealth orders: apart from placing pending orders, you can now also set entry and exit levels for your positions that will also remain hidden from the market.
  • Tick chart trader: trade quickly using your keyboard or mouse right from the tick charts in your terminal. The Tick Chart Trader Add-On shows tick charts (compiled from the time that it started running) in a variety of styles providing extra-fast position entry and exit, on a “First In – First Out” (FIFO) basis.
  • Sentiment trader: take advantage of the collective mind while crafting a trading strategy. This tool provides invaluable information about current and historic long/short sentiment, i.e. the percentage of traders who currently have (or had) an open buy or sell position on a symbol.
  • Correlation trader: identify symbols with strong or weak, positive or negative correlations, and fine-tune your trading strategies according to emerging differences in the analyzed variables.

And even more add-ons:

  • Alarm Manager
  • Session Map
  • Correlation Matrix: this powerful Add-On shows (in grid form) the correlation between symbols over a configurable timeframe and a number of bars.
  • Connect + news trading: make informed and sensible investment decisions by staying updated with the latest fundamental news and technical analyses sourced from JANDAYA, through a diverse range of custom RSS feeds, and JFD’s award-winning proprietary Research (Market News & Analysis).
  • Market Manager: get an overview of all open positions with a trading functionality (opening, modifying or closing orders).
  • Indicator suite: add a competitive edge to your technical and fundamental market research analysis skills with this comprehensive package of custom indicators (including Pivot Points, Renko bars, Candle Countdown, Gravity, and many others) developed to serve your ever-growing needs for advanced trading tools.
  • Multi-screen trading

Mobile Trading with JFD Bank

As far as mobile trading goes, JFD Bank offers either MetaTrader 4 or MetaTrader 5 for your mobile trading needs. Also, for German users, Guidants mobile app is available. Let’s take a quick look at the MetaTrader 5 app.

The platform is extremely user-friendly and easy to use. The starting menu is quite straightforward, giving you a selection of the most commonly used tools.
The quotes tab is pretty standard, looks solid and is easy to navigate.

FXFlat

The quotes tab is pretty standard, looks solid and is also easy to navigate.

Once you’ve selected an instrument you want to trade or view in a graph, you can tap on it and select “Chart” to view graph. Once the chart opens, you can tap anywhere on the chart to select the relevant timeframe, add indicators, or you can also press to create a trade.

The new trade screen is also very simple to use and intuitive. Simply select the size, stop loss, take profit values, and press “buy” or “sell” for instant execution.

JFD Bank Additional Tools

JFD Bank additionally offers its users access to an investment community, where traders can follow proven strategies that have their performance track record and are evaluated in terms of risk and performance. This is extremely useful for beginners, who are only starting out and do not yet possess the necessary knowledge to be profitable on their own.

Furthermore, JFD Bank’s analysts cover daily interesting stories from a technical perspective. Their research articles are free and available to the general public on their website.

Finally, JFD Bank holds many different events, seminars, live streams, almost daily. These are available in multiple languages, however, most are in German and English. This is a great proposition for German traders looking to start out in trading and learn the ropes.

JFD Bank Customer Support

JFD Bank has great customer support, which is available on a 24/5 basis. There are 3 forms of contact for your convenience. They are: phone, live chat, and email. You will find phone support helplines also in Austria, Cyprus, France, Germany, Switzerland, United Kingdom, Czech Republic, Netherlands, Spain, Portugal, Brazil, and Italy. Phone / Live Chat Support Hours are Sunday 23:00 CET to Friday 23:00 CET.

JFD Bank Awards

JFD Bank has been a recipient of more than 40 different awards since its inception. They include 1st place for the best trading platform and features, Best Forex Broker, Best FX & CFD Research House Western Europe, Best Execution Germany, Fastest Growing Financial Services Company Western Europe, and many many more.

Conclusion

JFD Bank is a well-established trading broker that has a lot to offer for both experienced and beginner traders. They offer DMA (Direct Market Access), which greatly reduces latency; allows you to copy some of the best strategies and achieve superb returns even if you are just a beginner, and offers a great selection of trading platforms. Their MetaTrader 4 and 5 platforms offer extremely useful addons. JFD Bank is especially attractive to those interested in trading physical stocks and cryptocurrencies. That is because they offer zero commissions on those asset classes. It is one of the more awarded brokers in the industry and can be of additional appeal especially to German traders, due to the availability of the Guidants trading platform to those who speak German.

Risk disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

10 Total Score

PROS
  • Regulation
  • Founded in 2011
  • Meta Trader Add-ons
  • Trading tools
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