Reason to avoid: Offshore license
Listed Date: July 23, 2018
Top 3 Regulated Forex Brokers
Company name: JAFX Ltd Registration/license: St Vincent and The Grenadine Registration/license requirement: USD 2,000 JAFX is a Forex and CFD broker operated by JAFX Ltd, The Financial Services Centre, Stoney Ground, Kingstown, St Vincent and The Grenadine. The website provides two contact phone numbers with UK and Australia’s country codes. Even if the firm has offices in those countries, it is not regulated by FCA in the UK or ASIC in Australia or any other regulatory agency. Since the broker is unregulated and most probably located offshore, we would not recommend investing with JAFX. It is better to trade with the brokers regulated by the UK’s FCA or any other reputable regulator. For instance, The license from UK’s Financial Conduct Authority requires EUR 125,000 of capital (aside from client deposits) for the STP license. The regulator also protects customers when authorized financial services firms fail.