Jade FOREX

What is Jade FOREX？

Jade FOREX, founded in 2021 and registered in Seychelles, offers a range of enticing features and security measures for Forex traders. With the adoption of Non Dealing Desk (NDD) execution, Jade FOREX ensures price transparency and fair trading, bolstered by a commitment to high-quality infrastructure for reliable execution speeds and price accuracy. However, Jade FOREX operates without regulation, which poses significant risks to investors.

If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.

Pros & Cons

Pros:

- Multiple Trading Platforms: Jade FOREX provides access to both MT4, a popular platform known for its customization and automation capabilities, and cTrader, a modern platform suited for manual trading with advanced order types.

- Low Minimum Deposit: The minimum deposit of 1000 JPY allows new traders to start with a smaller investment.

- Claimed Transparency and Competitive Environment: Jade FOREX emphasizes features like SSL encryption, 24/7 deposit availability, access to Tier-1 liquidity providers, Non Dealing Desk (NDD) execution, and high-quality infrastructure. These features, if true, could contribute to a fair and transparent trading experience.

Cons:

- Unregulated Broker: A major concern with Jade FOREX is the lack of regulation from a reputable financial authority. This means there's less protection for traders in case of disputes or unforeseen circumstances.

- Relatively New Broker: Founded in 2021, Jade FOREX has a shorter track record compared to established brokers.

Is Jade FOREX Safe or Scam？

Jade FOREX appears to offer a range of attractive features and security measures for Forex traders, including the use of SSL encryption for secure transactions, 24/7 deposit availability, access to Tier-1 liquidity providers for competitive interbank rates, the adoption of Non Dealing Desk (NDD) execution for price transparency and fair trading, and a commitment to high-quality infrastructure for reliable execution speeds and price accuracy. These elements are designed to provide a fair, transparent, and competitive trading environment.

However, the significant concern with Jade FOREX is its lack of regulation. Regulation by a reputable financial authority is crucial in the forex industry as it provides traders with a level of security, trust, and recourse in the event of disputes or the broker's insolvency.

Without regulation, the protections against fraudulent activities are minimal, and the risk to your invested capital increases significantly. While Jade FOREX offers promising trading conditions and security measures, the absence of regulatory oversight means that the risk of financial loss due to malpractice or fraud is markedly higher.

Market Instruments

Jade FOREX offers a variety of trading instruments for its clients, including:

- Foreign Exchange Margin: This involves trading currency pairs with leverage, allowing traders to speculate on the exchange rate movements between different currencies. Traders can go long (buy) or short (sell) on currency pairs, aiming to profit from fluctuations in exchange rates.

- Currency Pairs: Jade FOREX likely provides a wide range of currency pairs for trading, including major pairs like EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic pairs. Each currency pair represents the exchange rate between two currencies, and traders can trade them based on their analysis of market trends and economic factors.

- Precious Metals: Jade FOREX offers trading opportunities in precious metals such as gold, silver, platinum, and palladium. Precious metals are often considered safe-haven assets and are traded for investment diversification or as a hedge against inflation and economic uncertainty.

- Energy Contracts: This could include trading contracts for commodities such as crude oil, natural gas, and other energy products. Energy contracts are influenced by factors such as supply and demand dynamics, geopolitical events, and macroeconomic trends.

Account Types

Jade FOREX offers two types of accounts to cater to the varying needs and preferences of its clients: the Standard Account (STP Account) and the Low Spread Account (ECN Account).

• Standard Account (STP Account):

- Account Currency: Clients can choose to operate their Standard Account in either USD or JPY.

- Execution: This account type operates on Straight Through Processing (STP) execution, ensuring fast and efficient order processing without dealing desk intervention.

- Instruments: Clients have access to a range of trading instruments, including 25 FX pairs, 2 precious metals, and 3 energy products.

- Minimum First Deposit: To open a Standard Account, the minimum initial deposit required is 1,000 JPY.

- Minimum/Maximum Trading Unit: Traders can trade with a minimum trading unit of 0.01 lots and a maximum trading unit of 30 lots.

• Low Spread Account (ECN Account):

- Account Currency: Similar to the Standard Account, clients can choose USD or JPY as the account currency.

- Execution: The Low Spread Account operates on Electronic Communication Network (ECN) execution, providing direct access to interbank liquidity and potentially tighter spreads.

- Instruments: Clients with ECN Accounts can trade the same range of instruments as with Standard Accounts, including 25 FX pairs, 2 precious metals, and 3 energy products.

- Minimum First Deposit: The minimum initial deposit required for opening an ECN Account is also 1,000 JPY.

- Minimum/Maximum Trading Unit: Similar to the Standard Account, traders can trade with a minimum trading unit of 0.01 lots and a maximum trading unit of 30 lots.

How to Open an Account？

To open an account with Jade FOREX, please follow these steps:

Leverage

Jade FOREX offers a maximum leverage of 1:200 to its clients, allowing them to amplify their trading positions by up to 200 times the initial investment. Leverage is a double-edged sword in trading, as it can significantly magnify both potential profits and losses. With 1:200 leverage, traders have the ability to control larger positions in the market with a relatively small amount of capital.

For example, with $1,000 in their trading account, a trader could open a position worth $200,000 in the market. This amplifies the potential gains if the trade moves in their favor. However, it also means that if the trade goes against them, even a small price movement could lead to substantial losses, potentially exceeding the initial investment.

Spreads & Commissions

Jade FOREX offers two account types with different spreads:

Standard Account (STP Account) has a spread starting from 0.8 pips for EUR/USD. Law Spread Account (ECN Account) offers tighter spreads starting from 0.0 pips for EUR/USD. ECN accounts typically come with commission fees on trades, but the information on commissions is not provided in the details you gave.

Trading Platforms

Jade FOREX provides two popular trading platforms for its clients: MetaTrader 4 (MT4) and cTrader.

• MT4

MetaTrader 4 (MT4): A widely used platform known for its user-friendly interface, extensive customization options, and automated trading capabilities through Expert Advisors (EAs). MT4 offers a variety of technical indicators and charting tools for market analysis.

• cTrader

cTrader: A more modern platform known for its user-friendly interface, focus on manual trading, and advanced order types. cTrader offers strong charting capabilities and may appeal to traders who prefer a streamlined experience without the complexity of EAs.

Deposits & Withdrawals

Jade FOREX offers a range of convenient deposit and withdrawal methods to cater to the diverse needs of its clients.

• Deposits

For depositing funds into your trading account, you can choose from options such as bank transfer, Bitcoin (BTC), Ethereum (ETH), USDT (ERC20), USDC (ERC20), and XRP (Ripple). Each method has its own minimum deposit amount and timing of deposit, allowing you to select the option that best suits your preferences and requirements. Bank transfers typically take 1 to 3 business days for the deposited funds to reflect in your account, while cryptocurrency deposits such as Bitcoin and Ethereum are processed immediately after the transaction is approved, providing you with instant access to your funds.

• Withdrawals

When it comes to withdrawing funds from your Jade FOREX account, you can opt for bank transfer or USDT (ERC20). Withdrawals via bank transfer incur a withdrawal charge, which is calculated as the larger of “3,000JPY (30USD) equivalent” or “1.5% of the withdrawal amount” and deducted from the withdrawal application amount as a withdrawal fee. The minimum withdrawal amount for bank transfers is 30USD, and the withdrawal process typically takes 2 to 5 working days to complete. Alternatively, you can choose to withdraw funds in USDT (ERC20), with a minimum withdrawal amount of 30USDT and a similar processing time of 2 to 5 working days.

Customer Service

Customers can visit their office or get in touch with customer service line using the information provided below:

Telephone: +852 8193 0346

Email: support@jade-forex.com

Address: Nobel Capital Group Limited of Room B11, First Floor, Providence Complex, Providence, Mahe, Seychelles

Moreover, clients could get in touch with this broker through the social media, such as Twitter and LINE.

Whats more, Jade FOREX provides a Frequently Asked Questions (FAQ) section on their website to assist their clients with commonly asked questions and provide relevant information. The FAQ section aims to address common queries and concerns that investors may have regarding the company's services, processes, and investment opportunities.

Jade FOREX offers online messaging as part of their trading platform. This allows traders to communicate with customer support or other traders directly through the platform. Online messaging can be a convenient way to get real-time assistance or to engage in discussions with fellow traders.

Conclusion

Jade FOREX offers foreign exchange margin trading, various currency pairs, precious metals, and energy instruments for trading. They provide access to the popular MT4 and cTrader platforms, cater to different needs with Standard and ECN accounts, and boast features aiming for a transparent trading environment.

However, a major drawback is the lack of regulation from a reputable financial authority. This reduces potential safeguards for traders in case of issues. Additionally, details on spread ranges and ECN account commissions are missing, limiting transparency.

Frequently Asked Questions (FAQs)

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 provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.