JustProForex offers its clients to trade FX, metals, CFDs (on shares, indices, commodities, bonds, ETF, cryptos) and exchange-traded Physical Stocks. It promises the trading at core spreads paying very low commissions according to your order size. Positive slippage is also enabled; trading on MT4+, MT5+ (desktop and web) and other third-party platforms equipped with custom add-ons and indicators. The broker claims to use world-class, renowned auditors, and all clients’ funds are fully segregated and kept secure within UK and German banking institutions. Let’s have a look at what JustProForex statements are true and what are false.

About JustProForex
🗺️ Registered inVanuatu
🗺️ Type of LicenseOffshore License
🛡️ Is JustProForex safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

Is JustProForex a scam or legit broker?

No, it is not safe to trade with JustProForex, as it is an offshore company. Justproforex Overseas Ltd is authorised and regulated by the Vanuatu Financial Services Commission with license number 17933, is a subsidiary of justproforex Group Ltd and shares the “justproforex Brokers” trading name. 

Vanuatu is the easiest jurisdiction to open a brokerage, as the opening requires the company to submit a register online, prove initial established capital which is $2,000 only, to pay a fee, and within 2-3 month, the firm is crisp and registered. Therefore, it became an offshore zone for shady forex brokers such as IC Finance, 70Trades and more.

As to the broker’s VFSC license, from our source, it costs €24,000 per year to become a member. However, there is no handbook or guidelines for brokers to run their business. Therefore, there is zero protection for traders. We have a detailed article explaining the risk of trading with brokers from Vanuatu.

According to the website, JustProForex Group Ltd operates under strict European regulations, regulated and licensed by CySEC (Cyprus), is MIFID II compliant, and is also registered with Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) (Germany), the FCA (UK) and the ACPR (France). JustProForex Group Ltd is also a member of the ICF (Investor Compensation Fund). However, the registration details provided by the broker belong to another regulated company that has no association with JustProForex. 

The broker is not regulated and has been misleading its clients with false regulatory information. Moreover, the Cyprus Securities and Exchange Commission has included JustProForex in its warning list:

“The Cyprus Securities and Exchange Commission (‘CySEC’) wishes to inform investors that the following websites do not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities.”

We have also noticed that JustProForex has the same website interface as the blacklisted and suspended FX Premium, and there is a chance JustProForex is a “new face” of a FX Premium, therefore it should be avoided at all cost. You can read our full FX Premium review here.

We advise all investors and traders to avoid JustProForex and other brokers from Vanuatu. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and FXTM.

You can also share your trading experience with JustProForex by commenting on this review.

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