Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

Justforex Review Summary in 10 Points
Founded	2012
Registered Country/Region	Seychelles
Regulation	FSC (revoked), FSA (suspicious clone)
Market Instruments	Forex currency pairs, Gold, Silver, indices, stocks, and CFDs
Demo Account	Available
Leverage	1:3000
EUR/USD Spread	0.1 pips
Trading Platforms	MT4, MT5
Minimum deposit	$1
Customer Support	24/7 live chat, phone, email

What is Justforex？

Justforex is a forex and CFD broker founded in 2012 and registered in Seychelles that offers a wide range of trading instruments, including currency pairs, precious metals, stocks, and indices. The company provides various account types and trading platforms, as well as competitive spreads and leverage options. Justforex also offers a range of educational materials and customer support options.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Justforex offers a wide range of trading instruments, multiple account types with no commission, and 24/7 customer support through various channels. They also provide various educational resources for traders. However, they are currently unregulated, which may pose some risks to traders.

Pros	Cons
• Wide range of financial instruments	• No regulation
• Low minimum deposit requirement ($1)	• Clients from Australia, Canada, the EU and EEA, Japan, the United Kingdom, the United States are not accepted
• Demo accounts available	• Negative reviews
• Multiple account types
• MT4 & MT5 supported
• Multiple payment methods
• No fees for deposits and withdrawals
• Social trading feature available

Justforex Alternative Brokers

There are many alternative brokers to Justforex depending on the specific needs and preferences of the trader. Some popular options include:

• Tickmill - With its competitive trading conditions, comprehensive educational resources, and reliable customer support, Tickmill is a popular choice among traders looking for a trustworthy and feature-rich forex broker.

• Axi - As a regulated and award-winning broker, Axi offers traders a wide range of trading instruments, cutting-edge trading platforms, and excellent customer support, making it a top choice for both novice and experienced traders.

• FXOpen - With its user-friendly trading platforms, low trading fees, and excellent customer service, FXOpen is a popular choice for traders looking for a reliable and well-regulated forex broker.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is Justforex Safe or Scam？

The fact that Justforex is unregulated and its Financial Services Commission (FSC) license is revoked and Seychelles Financial Services Authority (FSA) license is a suspicious clone raises some concerns about its safety and legitimacy. Additionally, there are some complaints and negative reviews from their clients saying that they are unable to withdraw. However, the broker does offer various protection measures to its clients, such as segregated accounts and protection from negative balance. It is important to thoroughly research and consider these factors before deciding to trade with Justforex.

Market Instruments

Justforex offers a diverse range of 170+ financial instruments that include Forex currency pairs, precious metals, stock indices, popular stocks, and CFDs. With such a diverse range of instruments, Justforex provides ample trading opportunities for investors of different levels and preferences.

Accounts

To meet the needs and trading experience of different investors, Justforex offers four different types of accounts: Standard Cent Accounts (minimum deposit of $1), Standard Accounts (minimum deposit of $1), Pro Accounts (minimum deposit of $100), and Raw Spreads Accounts (minimum deposit of $100).

The Standard Cent account is ideal for novice traders who want to start trading with a small amount of money, while the Standard and Pro accounts are suitable for more experienced traders who want to access additional features and trading tools. The Raw Spreads account type offers tight spreads and is designed for high-volume traders.

It's worth noting that all account types are swap-free, which is especially important for traders who follow Islamic finance principles. Additionally, demo accounts are available for all account types, which is a great way to test the platform and trading strategies before investing real money.

Leverage

Surprisingly, the maximum trading leverage offered by Justforex is super high, reaching up to 1:3000, which allows traders to open larger positions with smaller amounts of capital. Since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders. Inexperienced traders are not advised to use such high leverage level. Additionally, it is worth noting that some financial instruments may have lower maximum leverage levels due to market conditions and regulatory requirements.

Spreads & Commissions

Justforex offers different spreads and commissions depending on the account type. Standard Cent and Standard accounts have spreads starting from 0.3 pips, while Pro accounts have spreads starting from 0.1 pips. Raw Spread accounts offer raw spreads starting from 0 pips, but a commission of 3 units of the base currency per lot is charged. No commission is charged for trading on Standard Cent, Standard, and Pro accounts. It is important to note that the spreads and commissions may vary depending on market conditions and liquidity.

Below is a comparison table about spreads and commissions charged by different brokers:

Broker	EUR/USD Spread	Commission
Justforex	0.3 pips	None
Tickmill	0.0 pips	$2/lot RT
Axi	0.2 pips	None
FXOpen	0.5 pips	$3.5/lot RT

Trading Platforms

Justforex offers MT4, MT4 PC, MT4 Android, MT4 iPhone, MT4 Web, MT5, MT5 PC, MT5 Android, MT5 iPhone, MT5 Web to meet a wide range of user needs. MT4 offers 9 timeframes, the ability to trade via charts, automated trading, and MT5 is the latest version of MT4, which is more intuitive and offers significant improvements in copy trading, mobile trading, and other innovative features for more efficient trading account management.

Overall, Justforex's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:

Broker	Trading Platforms
Justforex	MetaTrader 4, MetaTrader 5, WebTrader
Tickmill	MetaTrader 4, MetaTrader 5, WebTrader
Axi	MetaTrader 4, MetaTrader 5
FXOpen	MetaTrader 4, MetaTrader 5, WebTrader, TickTrader (mobile)

Trading Tools

Justforex offers several trading tools to help its clients trade more efficiently and effectively. One of these tools is social trading, which allows traders to follow and copy the trades of successful and experienced traders. This feature is available on both MT4 and MT5 platforms and is facilitated through the MQL5 community. Traders can browse through the profiles of different signal providers, assess their performance, and subscribe to their trading signals. By copying the trades of successful traders, traders can learn from their strategies, improve their own trading skills, and potentially increase their profits.

Deposits & Withdrawals

Just Forex supports traders to deposit and withdraw funds to their accounts via Bank cards (Visa/MasterCard), Skrill, Neteller, Perfect Money, STICPAY, AIRTM, cryptocurrencies of bitcoin, Bitcoin Cash, Ethereum, USD Coin, Tether, BUSD, BINANCE, DOGECOIN, Litecoin and XRP, local banks, and Fasapay.

Minimum deposit and withdrawal amount vary on the payment method. No fees for deposits and withdrawals. Deposits are instant, while withdrawals can be processed within 1-2 hours.

Justforex minimum deposit vs other brokers

	Justforex	Most other
Minimum Deposit	$1	$100

See the deposit & withdrawal fee comparison table below:

Broker	Deposit Fee	Withdrawal Fee
Justforex	None	None
Tickmill	None	None for certain methods, fees up to $25 for others
Axi	None	None
FXOpen	None	None for certain methods, fees up to $50 for others

Please note that the fees listed above are subject to change and may vary depending on the payment method and other factors. It's always best to check with the broker directly for the most up-to-date and accurate fee information.

Customer Service

The Justforex customer support is available 24/7, accessible via live chat, e-mail, phone, request a callback, live chat, Telegram, Viber, Messenger, Line, Instagram, WhatsApp and iMessage. Additionally, the FAQ section can be helpful for clients who prefer to find answers on their own.

Pros	Cons
• Available 24/7 through multiple channels	• Some complex issues may require longer resolution time
• FAQ section available for quick solutions
• Trained and knowledgeable support staff
• Multilingual support available

Note: These pros and cons are subjective and may vary depending on the individual's experience with Justforex's customer service.

Education

Justforex offers a comprehensive Learning Center with a range of educational resources that cater to the needs of both beginner and experienced traders. The center features a series of online webinars that cover a range of topics, including trading strategies, risk management, technical analysis, and more. Traders can also access a wide range of forex articles that cover market news, trends, and analysis. Additionally, the center provides a forex glossary that includes definitions of common trading terms and jargon. To further support trader education, Justforex also offers educational videos that cover a range of topics and can help traders to improve their trading skills and knowledge.

User Exposure on WikiFX

On our website, you can see that some users have reported scams and unable to withdraw. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

Conclusion

All things considered, Justforex is an online broker offering a wide range of financial instruments, account types, and trading platforms. They provide 24/7 customer support, educational resources, and convenient deposit and withdrawal options with no fees.

However, the lack of proper regulation and the suspicious nature of their licenses may be concerning for some investors. In addition, there have been some negative reviews from their clients. Overall, Justforex may be a suitable choice for experienced traders who prioritize a wide range of instruments and trading platforms and do not mind the lack of regulation and negative reviews.

Frequently Asked Questions (FAQs)

Q 1:	Is Justforex regulated？
A 1:	No. It has been verified that this broker currently has no valid regulation.

Q 2:	At Justforex, are there any regional restrictions for traders？
A 2:	Yes. Justforex does not offer and does not provide services to residents and citizens of certain jurisdictions, including Australia, Canada, the EU and EEA, Japan, the United Kingdom, the United States, and countries sanctioned by the EU.

Q 3:	Does Justforex offer demo accounts？
A 3:	Yes.

Q 4:	Does Justforex offer the industry-standard MT4 & MT5？
A 4:	Yes. Both MT4 and MT5 are available.

Q 5:	What is the minimum deposit for Justforex？
A 5:	The minimum initial deposit to open an account is only $1.

Q 6:	Is Justforex a good broker for beginners？
A 6:	No. It is not a good choice for beginners. Thought is advertises well, dont forget that they are unregulated.

USGFX	Basic Information
Registered Countries/Region	Australia
Founded in	2005
Regulation	No Regulation (ASIC, FCA, VFSC, all revoked)
Tradable Assets	Forex, CFDs, Indices, Commodities, Cryptocurrencies
Trading Platforms	MT4, MT5, WebTrader, mobile app
Minimum Deposit	$100
Maximum Leverage	1:500
Spreads	From 1.4 pips
Commissions	No commissions on most account types, but swap fees apply
Inactivity Fee	$10 per month after 3 months of inactivity
Educational Resources	Trading guides, video tutorials, webinars, eBooks, economic calendar, market news
Customer Support	24/5 support via phone, email, live chat, and social media; multiple language support

Overview of USGFX

Union Standard Group (USG) is an Australian investment firm that provides access to trade forex and CFDs under the brand name ‘USGFX’. The brand began operations in 2005 and is headquartered in Sydney, Australia with subsidiaries in London and Asia. This broker offers a wide range of financial instruments, including forex, indices, commodities, and cryptocurrencies, which can be traded on the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.

USGFX prides itself on its commitment to customer service, with a 24/5 customer support team available to assist traders with their queries. The broker also offers educational resources such as webinars, ebooks, and video tutorials, as well as a free demo account for traders to practice their strategies. In addition, USGFX offers a range of account types to cater to the needs of different traders, including Standard, Pro, and VIP accounts.

Is USGFX legit or a scam？

USGFX has received mixed reviews and there have been reports of some traders experiencing issues with withdrawals and customer support. USGFX had their ASIC and FSC licenses suspended and VFSC license revoked in 2020 due to concerns over their compliance with regulatory requirements, particularly in regards to client money handling and risk management procedures. The Australian Securities and Investments Commission (ASIC) and the Financial Services Commission (FSC) of the British Virgin Islands suspended USGFX's licenses for six months, while the Vanuatu Financial Services Commission (VFSC) permanently revoked their licenses.

Regulated brokers are required to adhere to strict rules and regulations regarding client funds, transparency, and risk management. In the event of any dispute or issue, traders have recourse through the regulatory body. With an unregulated broker, there is no such protection, and traders may be at a higher risk of fraud or other unethical practices

Pros & Cons

Here let's take a closer look at the good and bad things about USGFX. On the plus side, they offer a wide range of financial instruments to trade, including Forex, commodities, and indices. Their trading platforms are also pretty user-friendly and easy to navigate. On the downside, their regulatory status is questionable, which could be a red flag for some traders. Plus, they don't accept clients from certain countries, so you'll want to make sure you're eligible before signing up.

Pros	Cons
Wide range of trading instruments	Revoked licenses by ASIC, FSC, and VFSC
Multiple account types with various trading conditions	Negative reviews from customers
Various deposit and withdrawal methods	Limited educational and research materials
24/5 customer support
Advanced trading platforms
Bonuses and promotions for clients

Market Instruments

USGFX offers a range of financial instruments for trading, including forex currency pairs, commodities, indices, and shares of popular companies. Some examples of the instruments offered by USGFX are:

• Forex currency pairs such as EUR/USD, GBP/USD, USD/JPY, and AUD/USD

• Precious metals like gold, silver, and platinum

• Energy commodities such as crude oil and natural gas

• Indices such as S&P 500, NASDAQ, FTSE 100, and Nikkei 225

• Shares of popular companies like Apple, Amazon, Facebook, and Microsoft

Account Types

USGFX offers four different types of trading accounts to cater to the needs of different traders:

• MINI Account: This is the entry-level account with a minimum deposit requirement of $100. Traders with this account type can trade a wide range of instruments with low trading costs, access to educational resources, and 24/5 customer support. However, this account type comes with limited features, such as lower leverage and limited trading tools.

• Standard Account: The standard account requires a minimum deposit of $10,000 and comes with additional features such as higher leverage, access to more trading tools, and a dedicated account manager. Traders with this account type can also enjoy free VPS hosting and regular market analysis.

• VIP Account: This account type is designed for high-volume traders with a minimum deposit requirement of $50,000. In addition to the features of the standard account, VIP account holders can enjoy custom trading strategies, priority customer support, and exclusive market insights.

• Pro-ECN Account: The Pro-ECN account is designed for experienced traders and institutions with a minimum deposit requirement of $50,000. This account type offers ECN trading with no dealing desk, ultra-low spreads, and high execution speeds. Traders with this account type can also access premium research tools and institutional-grade liquidity.

How to open an account with USGFX？

Opening an account with USGFX is pretty straightforward and you need to follow these steps:

1. First, you need to go to their website and click on the “Open Account” button.

1. Then, you'll need to fill in some personal details, like your name, email address, and phone number. After that, you'll need to choose the type of account you want to open and provide some additional information, like your date of birth and proof of identity.

1. Once you've completed the registration process, you'll be able to deposit funds into your account and start trading. Just keep in mind that depending on the type of account you've chosen, there may be different deposit and withdrawal requirements.

Leverage

USGFX offers flexible leverage options ranging from 1:1 to 500:1, depending on the account type and instrument traded. It is important for traders to understand the risks involved with using high leverage and to use it judiciously. Additionally, some instruments may have lower leverage options due to market conditions or regulatory requirements. Traders should check with the broker regarding the available leverage options for specific instruments.

Spreads and Commissions (Trading Fees)

USGFX offers variable spreads, which means that the spread can widen or narrow depending on market conditions. The average spread for major currency pairs such as EUR/USD, USD/JPY, and GBP/USD is around 2-3 pips. Commissions are not charged for forex trading, but there are swap fees for holding positions overnight.

For trading other instruments like commodities, indices, and cryptocurrencies, USGFX charges a fixed spread. The size of the spread varies depending on the instrument traded. For example, the spread for gold is typically around $0.50 per ounce, while the spread for Bitcoin is around $60 per lot.

Broker	EUR/USD	Gold	BTC/USD
USGFX	1.6 pips	30 cents	$60
IC Markets	1.1 pips	32 cents	$60
Pepperstone	1.13 pips	35 cents	$60

Non Trading Fees

Apart from spreads and commissions, USGFX also charges several non-trading fees. These fees can add up and affect your overall trading experience, so it's important to be aware of them.

One such fee is the inactivity fee. This fee is charged to your account if you haven't made any trades or withdrawals for a specified period of time. The fee amount varies depending on the type of account you have and how long you've been inactive.

Another fee to be aware of is the withdrawal fee. While USGFX doesn't charge a deposit fee, they do charge a fee for each withdrawal you make from your account. This fee is a fixed amount and varies depending on the payment method you choose for your withdrawal.

USGFX also charges a swap fee, which is a fee charged for holding positions overnight. This fee can be a credit or debit depending on the direction of your position and the interest rates of the currencies you are trading.

Lastly, USGFX may charge a conversion fee if you deposit or withdraw funds in a currency that is different from the base currency of your trading account. The conversion fee is a percentage of the amount being converted and can add up if you frequently deposit or withdraw in different currencies.

Trading Platforms

USGFX offers its clients the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, which are highly popular among traders worldwide. These platforms are equipped with a range of trading tools, including charting tools, technical analysis indicators, and trading robots, making them suitable for traders of all levels.

MT4 is a well-established platform that has been around for over 15 years. It is known for its user-friendly interface, ease of use, and a wide range of trading tools. MT5, on the other hand, is the latest version of the platform, which was introduced in 2010. It offers several advanced features, such as more technical analysis tools, a multi-threaded strategy tester, and an economic calendar.

One of the significant advantages of MT4 and MT5 is that they are compatible with a range of devices, including desktop computers, laptops, smartphones, and tablets. This allows traders to access their accounts and trade from anywhere at any time.

Here's how USGFX's trading platform stacks up against other brokers' platforms:

Broker	Trading Platforms
USGFX	MetaTrader 4, WebTrader, mobile trading platforms
AvaTrade	MetaTrader 4, MetaTrader 5, AvaTradeGO, WebTrader
Exness	MetaTrader 4, MetaTrader 5, WebTerminal

Deposits and Withdrawals

Minimum Deposit

USGFX has a minimum deposit requirement of $100, which is pretty reasonable compared to some other brokers out there. It means that even if you're just starting out with trading and don't have a lot of money to invest, you can still give it a go with USGFX. Of course, you won't be able to make huge trades for just $100, but it's a good starting point to get your feet wet and learn the ropes of trading.

Broker	Minimum Deposit
USGFX	$100
Avatrade	$100
IC Markets	$200

USGFX offers a variety of deposit and withdrawal options to its clients. Deposits can be made through bank wire transfer, credit/debit cards, and various e-wallets such as Skrill, Neteller, and FasaPay. The processing time and fees for each method may vary.

Withdrawals can also be made through bank wire transfer, credit/debit cards, and e-wallets. However, it is important to note that there may be fees associated with withdrawals, depending on the method chosen. Withdrawal requests are typically processed within 1-2 business days.

Also, USGFX may apply internal fees to withdrawals that are not actively traded. For example, if you make a deposit and then withdraw it without trading, USGFX may apply a fee of up to 3% of the deposit amount.

Pros	Cons
Multiple payment methods available, including bank transfer, credit/debit card, and e-wallets	High withdrawal fees for some payment methods
No deposit fees for most payment methods	Some payment methods have a minimum deposit amount
Quick processing times for deposits	Long processing times for withdrawals
Multiple currency options available for deposits	Limited currency options available for withdrawals
	Withdrawals may be subject to additional verification processes

Customer Support

USGFX offers customer support through various channels, including email, phone, and live chat. The broker has dedicated support teams in different regions to cater to clients' needs. Customer support is available 24/5, and clients can contact the broker through the website's contact form or through the provided phone numbers and email addresses.

USGFX also has an extensive FAQ section on its website that covers different aspects of trading, including account management, deposit and withdrawal, and trading platforms.

Pros	Cons
24/5 customer support	No 24/7 customer support
Live chat support available	No phone support available
Fast response time to email inquiries	Limited multilingual support
Dedicated account manager for VIP clients	Limited educational resources on customer support issues
Comprehensive FAQ section on website	No support via social me

Educational Resources

USGFX offers a variety of educational resources to help traders improve their knowledge and skills in trading. The broker provides free webinars, video tutorials, e-books, and other resources to help traders learn about various topics such as technical analysis, risk management, trading strategies, and more. Additionally, USGFX offers a demo account, which traders can use to practice trading in a risk-free environment.

The educational resources provided by USGFX can be accessed through the broker's website or the trading platform. The resources are available in multiple languages, making them accessible to traders from different countries. Traders can also interact with the broker's experts and other traders through online forums and social media channels.

1. Wide range of educational materials	1. Some materials may be outdated or not relevant to current market trends
2. Comprehensive courses and tutorials	2. Limited interactive resources for personalized learning
3. Regular webinars and seminars	3. Some materials may only be available to premium account holders
4. Market analysis and news updates
5. Economic calendar with upcoming events and indicators

Conclusion

USGFX is a forex broker that offers trading services in a variety of markets, including forex, commodities, and cryptocurrencies. The broker offers several account types with varying minimum deposit requirements, allowing traders to choose an account that suits their trading needs. However, the broker's regulation has been a point of concern, with its licenses revoked by various regulatory authorities. This, coupled with negative reviews from clients and the low ranking score, raises questions about the broker's trustworthiness.

FAQs

• Q: Is USGFX a regulated broker？

A: USGFX was previously regulated by ASIC, FSC, and VFSC, but their licenses have been revoked due to regulatory violations.

• Q: What trading platforms does USGFX offer？

A: USGFX offers the popular MetaTrader 4 (MT4) platform for desktop, web, and mobile devices.

• Q: What is the minimum deposit requirement to open an account with USGFX？

A: USGFX offers a MINI account with a minimum deposit requirement of $100.

• Q: What is the maximum leverage offered by USGFX？

A: USGFX offers a maximum leverage of up to 500:1 for forex trading.

• Q: What are the available payment methods for deposits and withdrawals with USGFX？

A: USGFX offers various payment methods, including bank transfer, credit/debit card, and electronic payment systems such as Neteller and Skrill.

• Q: Does USGFX offer educational resources for traders？

A: Yes, USGFX provides a range of educational resources for traders, including webinars, e-books, and trading tutorials.