Company name: JAFX Ltd
Registration/license: St Vincent and The Grenadine
Registration/license requirement: USD 2,000
Is JAFX a regulated forex broker or a scam?
no, JAFX broker is Non-Regulated Broker. It is NOT SAFE to trade.while we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.
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.
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