JJPROFX offers forex and spot metals trading, through two account types. The minimum deposit required for the premium account is quite substantial at $10,000. Judging by the choice of language options available on the website, the company is targeting the South-East Asia region.
The Company. Security of Funds
Company Country Regulation
JJPRO Limited UK No
JJPRO FX is a trade mark of JJPRO Limited, which is registered in the United Kingdom, but does not claim any affiliation with the local regulators (or any for that matter). Trading with a non-regulated company is something we are strictly against.
You may already know this, but financial regulation is something very important for the security of your funds. The UK’s Financial Conduct Authority (FCA), for instance, requires client’s funds to be kept in segregated accounts, which the forex broker can not use for other purposes. Furthermore each account with a FCA regulated company is guaranteed by the Financial Services Compensation Scheme (FSCS), up to GBP 50,000, in case the broker goes bankrupt.
Minimum Initial Deposit
JJPRO FX has set the minimum initial deposit as low as $25. This is one of the lower offers on the market, which is suitable if you want to give them a try. Honestly, we all know this is not a sufficient amount of money for any type of trading.
Average spreads & Commissions
JJPRO FX offers fixed spreads, starting at 3.0 pips for EUR/USD. This is on the high-end of what most fixed spread brokers are currently offering. For instance, if you deposit more than $250 at easyMarkets, you can trade the same currency pair with a 1.0 pip fixed spread.
JJPROFX offers 1:1000 maximum leverage. The company is by no means alone in the practice of offering such extreme levels. This is more than you would ever need, if you take trading seriously. A long-term trading system should not be reliant on over-leveraging. Forex trading carries a serious risk to your capital, especially if you trade with such high leverage ratios and utilize them fully. Be sure to know the basics of margin trading, before you put your capital at stake.
According to JJPROFX terms and conditions “Scalping technique less than two minutes is prohibited; all posts are requiring to be held at least two minutes or longer. Penalty may cause profits and rebates to be forfeited.”
JJPROFX offers trading through the MetaTrader 4 (MT4) platform. It is a solid option, you may already be familiar with. The charting capabilities are pretty good and the automated trading environment is pretty much unmatched, when it comes to retail forex trading.
The platform also has mobile apps available both for iOS and Android smartphones/tablets. It is quite convenient for catching up with recent market moves and your positions, when you are on the move.
Methods of Payment
JJPROFX offers a few payment methods. They are: Bank Transfer, Credit Card and Perfect Money. Don’t forget bank transfers (especially international ones) may take up to several business days.
JJPROFX is an unregulated forex broker. The lack of oversight is generally a huge red flag for us. Trading conditions at the company are nothing special – fixed spreads, starting at 3 pips are not very competitive.
JJProFx Review Conclusion
For more information about currency trading brokers visit TopForexBrokers.com forex brokers comparison website, Tip ForexSQ.com foreign exchange trading experts please by share this article about JJProFx Review.