JFD Bank Fees and Spreads

 

A JFD Bank fees and spreads review

 

JFD Bank Fees and Spreads

 

JFD Bank fees spreads and commissions start from 0.03% when trading Forex with spreads from 0.0 pips.

JFD Bank has a low and incredibly competitive spread when compared to what other brokers offer by offering a spread list which starts from 0.0 pips along with commissions charged from $0.03 when trading Forex.

 

Commissions are charged according to the type of instrument traded and can be viewed as follows:

  • Forex – $0.03 or currency equivalent depending on the base currency.
  • Precious Metals – $3.0 or currency equivalent depending on the base currency.
  • CFDs on Stocks; France, Germany, Netherlands, and Spain– 0.05% of the order volume/minimum ticket charge of €
  • CFDs on Stocks (UK) – 0.05% of the order volume/minimum ticket charge of £5.
  • CFDs on Stocks (United States of America) – 2 cents per share/minimum ticket charge of $5.
  • CFDs on indices and commodities – $0.10 or currency equivalent depending on the base currency.
  • CFDs on ETFs – 2.5 cents per share/minimum ticket charge of $5.

 

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. These account specifications are as follows:

  • JFD Group Ltd. – minimum deposit of $500 or currency equivalent, margin call level at 100%, stop out level at 100%, negative balance protection, leverage according to ESMA’s measures.
  • JFD Overseas, Ltd. – minimum deposit of $500 or currency equivalent, margin call level at 125%, stop out level at 50%, negative balance protection not offered, leverage of up to 1:400.

 

The minimum deposit that JFD Bank requires to open an account is $500 or currency equivalent, which is significantly higher than other brokers who offer the same trading conditions.

 

Other Fees

 

Traders should note that certain financial instruments can only be traded during a certain time of the day, especially when considering different time zones, and additional fees may be charged should they hold these positions after they have closed.

Traders should always note that Overnight fees, otherwise known as swap fees or rollover fees, may be charged for positions held open for longer than a day. Overnight swaps are charged on all financial instruments except CFDs on Futures.

CFDs on Stocks and Cash Indices have an overnight fee which amounts to 3.25% approximate Libor.

JFD Bank does not offer the option of an Islamic account to traders who are of Muslim faith and who operate under the Sharia Law.

JFD Bank does not offer traders with spread betting and therefore spread betting fees are not applicable to this broker.

 

Broker Fees

 

JFD Bank does not charge any withdrawal fees but deposit fees are charged depending on the type of payment method used in addition to the currency supported by the payment method.

 

Deposit fees charged are as follows:

  • Bank Wire Transfer – zero deposit fees.
  • Sofort (not available to some countries)– EUR – 1.8% plus 0.25 EUR, GBP is 1.8% plus an additional 0.22 GBP
  • Skrill and Neteller – €0.29, $0.32, £0.26, ₣0.32 (fees only apply to these currencies indicated) and there is an additional 2.90% charged.
  • SafeCharge transaction fees for JFD Group Ltd. – €0.25, $0.26, £0.22, ₣0.27 (fees only apply to these currencies indicated)
  • SafeCharge transaction fees for JFD Overseas, Ltd. – €0.28, $0.29, £0.25, ₣0.30 (fees only apply to these currencies indicated)
  • SafeCharge percentage fee – 95% on EUR and GBP, 2.95% on USD and CHF (fees only apply to these currencies indicated)

 

In addition, JFD charges an inactivity fee of £20, €20, ₣20 or $20 should the traders account show inactivity for three consecutive months.

There is a currency conversion fee of 1% on the applicable exchange rate at the time applicable to the trading account as well as trading transactions.

 

Pros and Cons

 

PROS CONS
1.      Tight and competitive spreads 1.      High minimum deposit
2.      Withdrawal fees are not charged 2.      Deposit fees are charged
3.      Fixed commissions on trades
4.      Low commissions when compared to other brokers

 

FAQ

 

How many instruments can I trade with JFD Bank?

You can trade the following instruments:

  • Forex
  • Metals
  • CFDs on indices, commodities, stocks, cryptocurrencies, ETFs, and ETNs

 

Which platforms are supported by JFD Bank?

JFD Bank provides the following popular trading platforms:

  • 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 with 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 $0.03 when trading Forex.

 

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 is suitable for both beginner and expert traders.

 

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

8/10

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