TRADING CONDITIONS
TRADING HOURS
“Forex is a Market that Follows the Sun Around the World, so YOU can, too!”
Trade WHENEVER and WHEREVER you want to -- you can LITERALLY jump out of bed in your pajamas and start making money. This market flexibility takes “making your own schedule” to a whole new level. The “around the clock” availability of the forex market makes it ideal for a trader who may have unconventional hours available for their trading.
If you are more of a technical trader, you can look at charted trends as they develop almost 24/7 all across the world. If you like to trade on the fundamentals and breaking news you can still trade from the news reports that come in, region by region, as the market “wakes up” with each passing hour through different time zones.
In theory, since forex is a decentralized market, you could trade through the weekend if there were enough liquidity to justify it. But most forex companies adhere to a closure over the weekend that begins with the market close on Friday at 5:00 p.m. ET. in New York and re-opens about 48 hours later with the opening of the markets in Sydney and Australia on Sunday at 5:00 p.m. ET.
Here at JFX we strive to give you the best of service at any and all times of day or night. We cease trading at 11:00 p.m. CET Friday and open again at 11:00 p.m. CET Sunday.
The forex market is closed for each weekend period. The weekend period begins with the market close at 5:00 p.m. in New York and re-opens Monday morning with Sydney and Wellington. The market is also closed for 2 holidays during the year: December 25th and January 1st.
Trade WHENEVER and WHEREVER you want to -- you can LITERALLY jump out of bed in your pajamas and start making money. This market flexibility takes “making your own schedule” to a whole new level. The “around the clock” availability of the forex market makes it ideal for a trader who may have unconventional hours available for their trading.
If you are more of a technical trader, you can look at charted trends as they develop almost 24/7 all across the world. If you like to trade on the fundamentals and breaking news you can still trade from the news reports that come in, region by region, as the market “wakes up” with each passing hour through different time zones.
In theory, since forex is a decentralized market, you could trade through the weekend if there were enough liquidity to justify it. But most forex companies adhere to a closure over the weekend that begins with the market close on Friday at 5:00 p.m. ET. in New York and re-opens about 48 hours later with the opening of the markets in Sydney and Australia on Sunday at 5:00 p.m. ET.
Here at JFX we strive to give you the best of service at any and all times of day or night. We cease trading at 11:00 p.m. CET Friday and open again at 11:00 p.m. CET Sunday.
The forex market is closed for each weekend period. The weekend period begins with the market close at 5:00 p.m. in New York and re-opens Monday morning with Sydney and Wellington. The market is also closed for 2 holidays during the year: December 25th and January 1st.
BEST PRICING
At JFX, –we offer different account types, Silver, Gold and Platinum, all with some of the tightest spreads in the market. Our unique technology and 100% automated execution means that you get the real market price and reliable execution at all times. View ourGeneral Terms & Conditions for more information.
ECN PRICE MODEL
ECN is an electronic system that connects the largest banking institutions in the world directly with traders, eliminating any ‘middlemen’ in the execution of orders. By aggregating quotations from various tier-one banks, JFX is able to offer the best Bid/Ask prices in the industry that would otherwise not be available to traders. All orders are executed instantaneously and automatically, and there are no RFQs (Request for Quotes). Because ECN spreads are much narrower than ‘general spreads,’ a small fixed commission is charged per transaction. View our General Terms & Conditions for more information.
FRACTIONAL PIP PRICING
Some of the world’s most liquid trading pairs are traded in such high volumes that an additional decimal place in the pricing translates to more precise rate quotations, tighter spreads and enhanced opportunity for scalpers. Fractional Pip Pricing refers to adding an additional decimal place to rate quotations. Here at JFX, most currency pairs are quoted in 5 decimals (excluding HUF and JPY crosses), allowing you to “trade better” than in many other forex companies.
BEST EXECUTION POLICY
JFX connects you directly to all the liquidity you need to trade efficiently. We work with over 9 tier-1 banks (including Deutsche Bank, JP Morgen, Bank of America, BNP Paribas and HSBC) to give you the best price available at any given time.
The price you see on your platform is an ESP price, an acronym for an Executable Streaming Price, which means that ‘what you click is what you get.’
Extreme volatility, illiquidity or internet latency issues may lead to trade refusals, however JFX has secured ample liquidity from multiple partners and invested in an IT infrastructure which is more than capable of limiting this type of occurrence to a small number of trades. In other words, our trading community is large and varied enough that we can practically guarantee that what you click is, indeed, what you get 99, 9% of the time.
The price you see on your platform is an ESP price, an acronym for an Executable Streaming Price, which means that ‘what you click is what you get.’
Extreme volatility, illiquidity or internet latency issues may lead to trade refusals, however JFX has secured ample liquidity from multiple partners and invested in an IT infrastructure which is more than capable of limiting this type of occurrence to a small number of trades. In other words, our trading community is large and varied enough that we can practically guarantee that what you click is, indeed, what you get 99, 9% of the time.
ONE CLICK TRADING
One-click-trading is available on the JFX Trader and JFX ProTrader platforms, allowing you to buy or sell into the market with a single click directly off the charting visuals. This gives you the freedom to make the kinds of trades, like “scalping,” that may demand VERY precise timing in fast-moving markets. If you are just getting started in the market, or simply someone who likes to double-check their decisions before “pulling the trigger,” you may consider a two-step trading system like the one we offer in the MetaTrader 4 platform.
MARKET DEPTH
With JFX Trader and JFX ProTrader you can view the depth of the market in real time. As experienced traders know, spreads often widen as you trade larger and larger orders. This is because the counterparty to the trade, the “provider” of the currency you are trading, is assuming more risk by giving you a larger position.
To this end, JFX delivers market depth, a transparent feature which displays best Bid and Ask prices from multiple providers, and the associated quantities available at those prices in real-time. When you combine this level of market transparency with the power of one-click-trading available with JFX Trader and JFX Pro Trader and automated execution, you end up with an extremely efficient, responsive solution for the fast-moving world of forex.
To this end, JFX delivers market depth, a transparent feature which displays best Bid and Ask prices from multiple providers, and the associated quantities available at those prices in real-time. When you combine this level of market transparency with the power of one-click-trading available with JFX Trader and JFX Pro Trader and automated execution, you end up with an extremely efficient, responsive solution for the fast-moving world of forex.
MARKET AND CONTINGENT ORDERS
With JFX, spot orders placed in the market are based on What You Click is What You Get. In the rare event that the price you click on cannot be filled, the trade will not be executed.
As mentioned above, this automated execution system, known as Fill-or-Kill, removes the risk associated with slippage or re-quotes.
Pending Orders – all contingent orders are based upon Best Price, so your pre-set order will be triggered at the price level you specify. However, in the event that the specified price cannot be filled, the system will fill your order at the next, best price.
| ORDER TABLE | |
| FILL-OR-KILL | BEST PRICE |
| SPOT ORDERS | LIMIT ORDER |
| STOP ORDER | |
| TRAILING STOP ORDER | |
| OCO ORDER | |
| IF-DONE ORDER | |
| IF-DONE OCO | |
In the event of a market gapping across a pending order (i.e., if the market prices are moving quickly and multiple prices are available over short periods of time), the order will be triggered and filled at the next best price. For more information about these order types and what they do, please refer to JFX How to manage risk.
MARGIN AND LEVERAGE
Retail foreign exchange trading and related investments require significantly higher leverage than other financial markets due to the fact that significantly larger lines of currency are needed to make the market both accessible and profitable for non-institutional investors.
At JFX, we offer our clients up to 500:1 leverage on our MetaTrader 4, 300:1 on JFX Trader and 100:1 on JFX ProTrader platforms. These relatively high amounts of leverage allow you, the trader, a maximum opportunity to turn your investment capital into a formidable vehicle to reap maximum profits, albeit at significant risk.
At JFX, we offer our clients up to 500:1 leverage on our MetaTrader 4, 300:1 on JFX Trader and 100:1 on JFX ProTrader platforms. These relatively high amounts of leverage allow you, the trader, a maximum opportunity to turn your investment capital into a formidable vehicle to reap maximum profits, albeit at significant risk.
CLIENTS FUNDS SAFETY
When you trade with JFX you can be sure that your money is safe. We have established a number of security measures including:
Segregate funds:
All client funds deposited with JFX are fully segregated from the company’s funds and are kept in separate bank accounts. This ensures that those funds belonging to clients cannot be used for any other purposes.
Accounts held at strong global banks:
We partner with tier-1 banks that enjoy some of the highest ratings by Moody's, Fitch and S&P. Using global banks, such as Barclays Bank PLC in London, United Kingdom, ensures that funds deposited carry the lowest credit risk available in the market.
Member of the Investors Compensation Fund:
JFX is a member of the Investors Compensation Fund (ICF), which provides retail clients with additional protection. Your eligibility depends on the status and the nature of the claim. Further information can be found in our terms and conditions.
Negative balance protection:
Our automated transaction monitoring and risk-management system ensures that clients’ balances will never fall below zero, protecting you from any losses beyond your positive account balance.
Segregate funds:
All client funds deposited with JFX are fully segregated from the company’s funds and are kept in separate bank accounts. This ensures that those funds belonging to clients cannot be used for any other purposes.
Accounts held at strong global banks:
We partner with tier-1 banks that enjoy some of the highest ratings by Moody's, Fitch and S&P. Using global banks, such as Barclays Bank PLC in London, United Kingdom, ensures that funds deposited carry the lowest credit risk available in the market.
Member of the Investors Compensation Fund:
JFX is a member of the Investors Compensation Fund (ICF), which provides retail clients with additional protection. Your eligibility depends on the status and the nature of the claim. Further information can be found in our terms and conditions.
Negative balance protection:
Our automated transaction monitoring and risk-management system ensures that clients’ balances will never fall below zero, protecting you from any losses beyond your positive account balance.
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