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The WikiFX Score of this broker is reduced because of too many complaints!

JFD Bank

Cyprus|5-10 years|
Suspicious Scope of Business|Suspicious Overrun|High potential risk|


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Influence index NO.1

Germany 2.72

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+49 40 87408688
Kakos Premier Tower Kyrillou Loukareos 70 4156 Limassol, Cyprus
The WikiFX Score of this broker is reduced because of too many complaints!


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+49 40 87408688


+34 91 903 94 80


+351 308 808 045

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Warning: Low score, please stay away! 7
Previous Detection : 2024-07-14
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 14 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The CyprusCYSEC regulation (license number: 150/11) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The GermanyBaFin regulation (license number: 120056) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The VanuatuVFSC regulation (license number: 17933) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The Vanuatu VFSC regulation with license number: 17933 is an offshore regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

JFD Bank · WikiFX Survey

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    JFD Bank · Company Summary

    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

    JFD Bank Review Summary in 10 Points
    Founded 2011
    Registered Country/Region Cyprus
    Regulation VFSC (offshore regulatory), BaFin (exceeded), CYSEC (suspicious clone)
    Market Instruments 60+ currency pairs & CFDs on commodities, precious metals, 15 indices, bonds, ETFs, and stocks
    Demo Account Available
    Leverage 1:30/1:400
    EUR/USD Spread 0.4 pips
    Trading Platforms MT4/5
    Minimum Deposit $500
    Customer Support 24/5 multilingual phone, email, online messaging

    What is JFD Bank?

    JFD Group is a financial services company that provides online trading and investment solutions to retail and institutional clients. It offers access to various financial instruments, including forex, CFDs on stocks, indices, commodities, and cryptocurrencies through the MT4/5 platforms.

      “JFD Bank” is a brand name and registered trademark owned and used by the JFD group of companies, which includes:

      • JFD Group Ltd (ex. JFD Brokers Ltd), a company with registration number HE 282265, authorized and regulated by the Cyprus Securities and Exchange Commission - CySEC (Suspicious Clone, Licence No. 150/11),

      • JFD Overseas Ltd which is authorized and regulated by the Vanuatu Financial Services Commission - VFSC (Offshore Regulatory, License No.17933) and

      • JFD Bank AG which is authorized and regulated by the Federal Financial Supervisory Authority - BaFin (Exceeded, License No. 120056).

    JFD Bank's home page

    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

    JFD Bank offers a wide range of financial instruments, including forex and CFDs on various assets. The bank provides advanced trading platforms, competitive spreads, and multiple funding options to support traders' needs.

    However, it does not hold any valid regulation currently. It has a limited selection of account types and a higher minimum deposit requirement, which may not be suitable for all traders.

    Pros & Cons
    Pros Cons
    • Wide Range of Instruments • No valid regulation
    • Demo accounts available • Limited info on website
    • Competitive Spreads • Reports of unable to withdraw and scams
    • MT4/5 supported • Single account type
    • Multiple funding options • High minimum deposit
    • 24/5 multilingual customer support

    JFD Bank Alternative Brokers

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

      • City Index - a well-established broker with a user-friendly platform, making it a solid choice for traders seeking a wide range of markets and competitive pricing.

      • Trading 212 - a popular commission-free trading platform that offers a user-friendly interface, a broad selection of financial instruments, and an innovative “Invest” feature for long-term investing.

      • XGLOBAL Markets - a reliable broker known for its competitive spreads, comprehensive trading tools, and robust customer support, making it suitable for traders looking for a reputable and feature-rich trading experience.

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

    Is JFD Bank Safe or Scam?

    Bank does not have valid regulatory licenses. The Vanuatu Financial Services Commission - VFSC (License No. 17933) is offshore regulatory, the Federal Financial Supervisory Authority - BaFin (License No. 120056) is exceeded, and the Cyprus Securities and Exchange Commission - CYSEC (License No. 150/11) is a suspicious clone. This raises concerns about the legitimacy and safety of the broker.

    Regulatory licenses play a crucial role in ensuring the transparency, security, and adherence to financial regulations by brokers. Without valid and recognized licenses, there may be a higher risk of potential scams or fraudulent activities.

    It is important for traders to carefully consider the regulatory status of a broker before engaging in any financial transactions. Unregulated brokers may lack the necessary oversight and investor protection measures that regulated brokers are required to have.

    It is advisable for traders to conduct thorough research, consider the risks involved, and explore regulated alternatives when choosing a brokerage.

    Market Instruments

    JFD Bank provides investors with a diverse range of financial instruments to trade. One of the key offerings is access to over 60 currency pairs, including major, minor, and exotic pairs. This allows traders to participate in the global foreign exchange market and take advantage of currency price movements.

    In addition to forex, JFD Bank offers CFDs (Contracts for Difference) on commodities. This includes popular commodities such as gold, silver, oil, and natural gas. Trading commodity CFDs allows investors to speculate on the price movements of these physical assets without actually owning them.

    Furthermore, JFD Bank provides CFDs on 15 indices, which represent baskets of stocks from various markets. This allows traders to gain exposure to the performance of specific markets or sectors without having to buy individual stocks. Indices such as the S&P 500, Dow Jones, and FTSE 100 are commonly offered for trading.

    Market Instruments

    JFD Bank also offers CFDs on bonds, providing access to fixed income securities. This allows traders to speculate on the price movements of government bonds and potentially benefit from changes in interest rates.

    Moreover, JFD Bank provides CFDs on Exchange-Traded Funds (ETFs), which are investment funds traded on stock exchanges. Trading ETFs allows investors to gain exposure to a diversified portfolio of assets, such as stocks, bonds, or commodities, in a single trade.

    Lastly, JFD Bank offers CFDs on individual stocks, allowing traders to invest in shares of various companies listed on global stock exchanges. This provides opportunities to trade on the price movements of specific stocks, both long and short.


    JFD Bank offers investors a Standard account type, which is their primary account option. To open a Standard account, traders are required to make a minimum initial deposit of $500, which is considered relatively higher compared to some other brokers in the market.


    Additionally, JFD Bank offers demo accounts, allowing traders to practice and familiarize themselves with the platform and its features before committing real funds. Demo accounts provide a risk-free environment where traders can test their strategies and assess the broker's trading conditions.


    JFD Bank implements different leverage limits based on the trader's jurisdiction and the financial instruments being traded. For European resident traders, the maximum leverage offered is 1:30. This is in accordance with the regulations imposed by the European Securities and Markets Authority (ESMA) to ensure the protection of retail clients. The lower leverage limit aims to mitigate the potential risks associated with high leverage trading.

    On the other hand, traders operating through JFD Bank's overseas entities may have access to higher leverage levels, specifically up to 1:400 on Forex instruments. It's important to note that the availability of higher leverage is subject to the regulations and requirements of the specific jurisdiction in which the trader operates.

    Traders should consider their risk tolerance, trading strategies, and regulatory restrictions when deciding on the appropriate leverage level. It's crucial to understand the potential implications of leverage on trading positions, as higher leverage amplifies both profits and losses. Therefore, traders should exercise caution and ensure they fully comprehend the risks involved before utilizing leverage in their trading activities.

    Spreads & Commissions

    JFD Bank offers competitive spreads and transparent commission structures to its clients. Based on the testing of demo accounts, it is observed that the spread on the popular EUR/USD currency pair is extremely low, only 0.4 pips. This indicates a tight spread, which is beneficial for traders as it minimizes the cost of entering and exiting positions.

    In addition to the spread, JFD Bank charges a commission of $3 per lot per side. This commission-based model ensures transparency in the pricing and allows traders to see the direct cost of their trades.

    Overall, the combination of tight spreads and reasonable commissions offered by JFD Bank makes the cost of trading on their platform competitive and attractive for traders. It is important to note that the specific spreads and commissions may vary across different financial instruments and trading account types, so it is recommended for traders to review the latest information on the JFD Bank website or consult with their customer support for accurate and up-to-date details.

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

    Broker EUR/USD Spread Commissions
    JFD Bank 0.4 pips $3 per lot per side
    City Index 0.5 pips Variable commissions
    Trading 212 0.9 pips No commissions
    XGLOBAL Markets 0.2 pips Variable commissions

    Please note that spreads and commissions may vary depending on market conditions, account types, and trading platforms. It's always a good idea to check with the broker directly or review their official documentation for the most up-to-date and accurate information.

    Trading Platforms

    JFD Bank provides its traders with access to two widely recognized and popular trading platforms, namely MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are renowned for their advanced features, user-friendly interface, and robust functionality, catering to the needs of both novice and experienced traders.

    The MT4 platform is a well-established and widely used trading platform in the industry. It offers a comprehensive set of tools and features for trading various financial instruments, including forex, commodities, indices, and more. Traders can benefit from real-time price quotes, advanced charting capabilities, customizable indicators, and expert advisors (EAs) for automated trading. The platform's intuitive interface allows for efficient order execution, position management, and market analysis.

    On the other hand, the MT5 platform builds upon the success of its predecessor and enhances the trading experience with additional features. It offers an extended range of markets and instruments, including stocks and futures, making it suitable for traders looking to diversify their portfolios. The platform also introduces advanced analytical tools, improved charting options, and a multi-threaded strategy tester for optimizing and backtesting trading strategies.

    Both platforms provide access to JFD Bank's full range of financial instruments, allowing traders to trade with ease and flexibility. They offer reliable execution, real-time market data, and a secure trading environment. Traders can choose the platform that best suits their trading style and preferences, whether it's the familiarity and versatility of MT4 or the expanded capabilities of MT5.

    Overall, JFD Bank's provision of both MT4 and MT5 platforms demonstrates their commitment to meeting the diverse needs of their clients, offering them powerful tools and an optimal trading experience.

    See the trading platform comparison table below:

    Broker Trading Platforms
    JFD Bank MT4, MT5
    City Index Advantage Web, AT Pro
    Trading 212 Trading 212 Web, App
    XGLOBAL Markets MT4

    Deposits & Withdrawals

    JFD Bank provides traders with a variety of convenient and widely accepted payment methods to facilitate deposit and withdrawal transactions. Traders can fund their accounts using major credit and debit cards, such as VISA and MasterCard, allowing for quick and secure transactions. Additionally, bank wire transfers offer a traditional and reliable method for transferring larger amounts of funds.

    For those who prefer alternative payment solutions, JFD Bank supports various e-wallet options, including Skrill, WireCard, SafeCharge, GiroPay, iDeal, and ePay. These e-wallets offer fast and seamless transactions, providing traders with flexibility and convenience.

    JFD Bank imposes a minimum deposit requirement of $500, which may be considered relatively higher compared to some other brokers in the industry. Traders should ensure that they meet this requirement before opening an account with JFD Bank.

    JFD Bank minimum deposit vs other brokers

    JFD Bank Most other
    Minimum Deposit $500 $100

    When it comes to withdrawals, JFD Bank aims to process them efficiently and promptly. The broker does not provide specific details regarding withdrawal processing time on their website. However, it is common for withdrawals to undergo a verification process to ensure security and compliance with regulations. The time it takes for funds to reach the trader's account may vary depending on the chosen withdrawal method and the respective banking or payment system's processing time.

    Note that additional fees or charges may apply when depositing or withdrawing funds from JFD Bank. Traders should review the broker's terms and conditions or contact their customer support for detailed information on any potential fees associated with depositing or withdrawing funds from their trading accounts.

    Customer Service

    JFD Bank places a strong emphasis on customer service and provides support to its clients throughout the trading week. Traders can access assistance 24 hours a day, 5 days a week, ensuring that support is available during most trading hours. This round-the-clock support is valuable for traders who may have inquiries or require assistance outside of regular business hours.

    The customer service team at JFD Bank is multilingual, allowing clients to communicate in their preferred language. This is particularly beneficial for international traders who may require support in different languages. Support is available via phone, email, and online messaging, providing multiple channels for clients to reach out and receive assistance.

    Phone and live chat support are available from Sunday 23:00 CET to Friday 23:00 CET, covering the majority of the trading week. This availability ensures that traders can quickly resolve any urgent matters or receive real-time support during active trading sessions. Other support departments, such as email inquiries, operate from 08:00 to 17:00 CET Monday to Friday, excluding Cyprus Bank Holidays.

    Customer Service

    JFD Bank's presence on various social networks, including Twitter, Facebook, YouTube, and LinkedIn, allows traders to stay updated on the latest news, market insights, and developments from the broker. Following JFD Bank on these platforms provides an additional avenue for traders to engage with the broker, access educational content, and stay connected with the community.

    Overall, JFD Bank offers a robust customer service experience, combining round-the-clock support, multilingual assistance, and multiple communication channels. Traders can expect timely and knowledgeable responses to their inquiries, helping to ensure a smooth trading experience and addressing any concerns they may have.

    Pros Cons
    • 24/5 customer support availability • Lack of 24/7 customer support
    • Multilingual support • No live chat support
    • Support for various communication channels • No FAQ section
    • Active presence on social media platforms

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

    User Exposure at WikiFX

    On our website, you can see that reports of scams and unable to withdraw. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. 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.

    User Exposure at WikiFX


    In conclusion, JFD Bank is an unregulated broker with limited information available on its website. While it offers a diverse selection of trading instruments and competitive trading conditions through the popular MT4 and MT5 platforms, there have been reports of issues with withdrawals and potential scams associated with the company. These reports raise concerns about the reliability and trustworthiness of JFD Bank as a financial service provider. It is advisable for potential investors and traders to exercise caution and thoroughly research alternative regulated brokers with a stronger track record and reputation for ensuring the safety and security of client funds.

    Frequently Asked Questions (FAQs)

    Q 1: Is JFD Bank regulated?
    A 1: No. VFSC license is offshore regulatory), BaFin license is exceeded, and CYSEC license is a suspicious clone.
    Q 2: Does JFD Bank offer the industry leading MT4 & MT5?
    A 2: Yes. It supports MT4 and MT5.
    Q 3: What is the minimum deposit for JFD Bank?
    A 3: The minimum initial deposit to open an account is as high as $500.
    Q 4: Is JFD Bank a good broker for beginners?
    A 4: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its lack of transparency and high minimum deposit requirement.


    WIKIFX REPORT: JFD Bank Rebrands As “JFD Brokers” - Releases New Website

    NewsWIKIFX REPORT: JFD Bank Rebrands As “JFD Brokers” - Releases New Website

    2022-08-31 14:25

    JFD Bank has officially rebranded its business to JFD Brokers, which the company says is due to a "renewed strategic focus of JFD on its core DNA as a multi asset brokerage house".

    2022-08-31 14:25
    WIKIFX REPORT: JFD Bank Rebrands As “JFD Brokers” - Releases New Website


    2022-04-18 17:01

    Although airlines are difficult long-term investments, short-term speculators prize them, as evidenced by Delta Air Lines, Inc.'s (NYSE: DAL) short-term volatility.

    2022-04-18 17:01


    2021-12-07 15:14

    JFDBrokers is a forex broker. JFD Brokers offers the MT4 and MT5 trading currency platforms. offers over 60 forex currency pairs, cfds, commodities, stocks, indices, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options. “JFD Bank” is a brand name and registered trademark owned and used by the JFD group of companies, which includes: JFD Group Ltd (ex. JFD Brokers Ltd), a company with registration number HE 282265, authorized and regulated by the Cyprus Securities and Exchange Commission - CySEC (Licence number: 150/11). Previously, it can be noted that the broker offers Now as the broker announced in their official website that they want to notify their clients and the General public that today (25/11/2021), theye will remove Technipfmc’s (FTI.P.EX) physical stock  from JFD’s offering.

    2021-12-07 15:14


    2021-12-06 12:28

    Brent is the name given to a relatively light crude oil made from a blend of crudes from 19 oil fields in the North Sea. Brent Crude is one of the three main benchmarks for crude oil prices per barrel, along with West Texas Intermediate (WTI) from North America and Dubai Crude from the Persian Gulf. Brent is also the name of an oil field located in the North Sea off the coast of Scotland, which was discovered in 1971 and started production in 1976. Brent is an acronym for Broom, Rannoch, Etive, Ness and Tarbert – the five geological formations that form the Middle Jurassic field.

    2021-12-06 12:28

    User Reviews

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    more than one year
    I lost faith in JFD Bank because it let me down so many times. I asked to get my money back on 19/01/2023, but it hasn't shown up in my bank account until now.
    2023-02-21 21:22
    Ende Tan
    more than one year
    Awful experience with JFD BROKER on forex trading I lost a big sum of money, for my order was forced to close, and they did not give me any response…
    2023-02-14 10:22
    more than one year
    this JFD Bank company is nothing more than an online scammer. Now we cannot see their website, but the complaints from the victims show the illegitimate and immoral behavior of the broker.
    2023-02-13 18:02
    more than one year
    They don’t have any legitimate regulations! Many traders have shared their bad experiences with them! JFD Bank is a scam firm! They induced us to invest with them and then stole all of our money. When we found out, it was too late, and the money we put in was impossible to get out!
    2022-11-23 10:05
    more than one year
    JFD broker’s customer support is quite good, they answer me very quick it uses mt4, mt5, some educational resources are here… I open a demo account on its website several days, and everything performs well… Recommend this broker.
    2022-11-22 18:04
    more than one year
    This so-called JFD bank is a lie!!! Their sole purpose is not to sustain business, but to leave customers broke by doing everything they can. If you invest in JFD you will find this: after a couple of trades, you have won or lost a little. Well if you've won and want to withdraw your money, boom! They claim that you have such suspicious trading actions and are obligated to freeze your account and find out about your actions, even though you actually did nothing.
    2022-11-18 18:19


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