JFD Brokers is a NDD broker offering the trade of over 68 currency pairs, precious metals and CFD contracts for indices, commodities, bonds, and shares. It is founded in Cyprus, with operations in Bulgaria and a strong presence in the German-speaking area. JFD Brokers strives for further expansion throughout Europe.
JFD Brokers Ltd., operating as JFD Brokers, is a Cypriot investment company (CIF), registered in the European Union and licensed by the Cyprus Securities and Exchange Commission (CySEC).
How JFD Brokers Work:
CySEC applies specific rules and requirements to Cypriot Investment Firms. For example, they must have at least € 730,000 to prove their financial position. Besides, the Commission requires forex brokers to keep client funds in separate accounts separate from the company's operating funds.
As a further guarantee for customer funds, all companies are members of the Investor Compensation Fund. They can pay compensation up to EUR 20,000 if the company does not perform its obligations.
Besides, any investment company subject to the CySEC regulations is also compliant with MiFID. And therefore entitled to offer cross-border services in the EU following the MiFID regulations. Nevertheless, the German Federal Financial Supervisory Authority (BaFin), the UK Financial Supervisory Authority (FCA) and the French Authorité de Contrôle Prudentiel et de Résolution (ACPR) register it.
To open an account at JFD Brokers, investors must invest a minimum of USD 500. This minimum initial amount is a bit high, considering that many brokers in Cyprus require less. For example, XM needs only $ 5 from customers.
As a real STP broker, JFD Brokers offers variable spreads, averages for the EUR / USD pair of around 0.2 pips. This offer comes with a commission of $ 6 for a standard return flight. The average transaction costs per batch with this broker are about 0.8 pips. It is a very competitive price. Most brokers offer spreads in the range of 1.0-1.5 pips for the EUR / USD pair.
Best Forex Brokers By Countries List
Top Rated Online Best Forex Brokers 2022