JadeFOREX is a foreign exchange broker officially registered on February 18, 2021. This broker primarily provides users with many trading markets through the cTrader trading platform and its related mobile applications, including forex, energy, precious metals, etc. Moreover, the broker does not operate in countries and regions where it may violate local laws or regulations.
Corporate Registration Information and Regulatory Status:
According to the official website of JadeFOREX, the company was registered in Seychelles in April 2021, with the registered entity being Jade Belfort Limited, company registration number 227736, located at Nobel Capital Group Limited of Room B11, First Floor, Providence Complex, Providence, Mahe, Seychelles.
Upon verification, neither the Seychelles Business Registry nor the Seychelles Financial Services Authority (FSA) websites had any record of an entity named Jade Belfort Limited. Its headquarters, upon further check, turned out to be a company registered in Seychelles named “Nobel Capital Group Limited,” with the registered address at Room B11, First Floor, Providence Complex, Providence, Mahe, Seychelles.
Opening an Account:
To open an account with JadeFOREX: visit the broker's official website, click on “Open Account” on the right side of the webpage, enter your name, email address, and set a login password. Once the application is submitted, the broker will automatically send a verification email to the email address provided during registration. After receiving the verification email, click on the confirmation link in the email body to verify your email address. Once verification is complete, you can log into your account. Identity verification must be completed before depositing funds for trading.
Trading Account Information:
JadeFOREX offers users two different types of real trading accounts: Standard Account (STP Account) and Law Spread Account (ECN Account).
Standard Account (STP Account):
- Account Currency: USD, JPY
- Execution Type: STP
- Spreads: Floating spreads starting from 0.8 pips for EUR/USD
- Tradable Instruments: 25 forex pairs, 2 precious metals, 3 energy products
- Minimum Deposit: 1,000 JPY
- Minimum Lot Size: 0.01
- Maximum Lot Size: 30
- Maximum Leverage: 1:200 for forex; 1:100 for precious metals and energy
- Account Management Fee: 0
- Commission: 0
- Margin Call Level: 100%
- Stop Out Level: 30%
- Negative Balance Protection: Supported
- Rollover: Supported
- Hedging: Supported
- EA: Supported
Law Spread Account (ECN Account):
- Account Currency: USD, JPY
- Execution Type: ECN
- Spreads: Floating spreads starting from 0.0 pips for EUR/USD
- Tradable Instruments: 25 forex pairs, 2 precious metals, 3 energy products
- Minimum Deposit: 1,000 JPY
- Minimum Lot Size: 0.01
- Maximum Lot Size: 30
- Maximum Leverage: 1:200 for forex; 1:100 for precious metals and energy
- Account Management Fee: 0
- Commission: $5 per lot (one-way)
- Margin Call Level: 100%
- Stop Out Level: 30%
- Negative Balance Protection: Supported
- Rollover: Supported
- Hedging: Supported
- EA: Supported
Trading Platform:
JadeFOREX claims to provide its users with the cTrader trading platform, including desktop and mobile versions.
Deposits and Withdrawals:
JadeFOREX supports deposits and withdrawals via bank transfer and cryptocurrencies, with a minimum deposit amount for bank transfers set at $1,000 or 100,000 JPY, and for cryptocurrencies, the deposited currency value must be equivalent to $50. The minimum withdrawal amount is $30, and the larger of "equivalent to 3,000 JPY ($30)" or "1.5% of the withdrawal amount" will be deducted as a withdrawal fee.
Conclusion:
Traderknows reminds investors that JadeFOREX is a forex scam website with opaque registration and regulatory information, and it is suspected of false advertising. Users can only contact this broker via email, which is a very limited means of communication. Traderknows advises investors to choose brokers with transparent information, strong regulation, and good reputation for investment and trading activities to avoid unnecessary financial losses.
Currently, this broker is marked as "Suspected Scam" on Traderknows.
