How to open an account with JFD Bank?

You can open a live account with JFD in no time. Fill out the OAOF (Online Account Opening Form) completely. You will then receive an email in which the further steps are explained and which contains a download link for JFD Bank’s MetaTrader trading platform. After your details have been checked and your details have been received in full, you will receive another email with the login details for your new account. Of course, in order to actually trade live, you still have to deposit money into your account. Please also make sure that the first deposit corresponds to the required minimum deposit (at least 500 units of the respective currency).

You can open accounts in EUR, CHF, GBP and USD.

It takes 1-2 working days to open a live account with JFD once all the required documentation is in place.

If you would like to open an additional account with JFD, you must complete the application form under My JFD .

You can open a demo account at JFD using JFD Bank’s OAOF (Online Account Opening Form). You will then receive an email with a download link to JFD Bank’s trading platforms. Once installed, you can test JFD’s unique trading conditions right away.

Data protection is very important to JFD. The certificate-based SSL encryption protocol, which banks also use, is used.

Required Documents to open JFD Bank account

In order for you to be able to open a live account, JFD Bank needs the following information from you:

Copy of a valid passport document (photo, personal data, signature, date of issue and expiry, place of issue and serial number must be clearly identifiable). Depending on your country of origin, other identity documents may also be accepted or required.

A so-called “utility bill”. This is a consumption bill. This can be, for example, an electricity, water, heating or credit card bill.

Note: other identification documents may be accepted or required depending on your country of birth / home country. JFD Bank’s customer service will contact you if necessary.

What is JFD Bank?

JFD is not a market maker and never trades against a client. All trades are forwarded directly to the reference market (foreign exchange ECN / STP, DMA share CFDs) or at the same time and fully hedged (indices, commodities).

The security of your deposits is a top priority at JFD. All customer funds are segregated from company capital at all times! In the unlikely event of JFD filing for bankruptcy, no client funds would be affected or they would not be a bankruptcy estate. Without exception, all customer funds are kept segregated from company capital with the world’s leading banks with the highest level of asset security.

JFD is a leading group of companies providing financial and investment services and activities. “JFD Bank” is a registered trademark used by the JFD group of companies, which includes the following companies: JFD Group Ltd (formerly JFD Brokers Ltd), a company with registration number HE 282265, owned by the Cyprus Securities and Exchange Commission (CySEC) is authorized and regulated under license number 150/11; JFD Overseas Ltd, which is authorized and regulated by the Vanuatu Financial Services Commission under license number 17933; and JFD Bank AG, which is approved and regulated by the Federal Financial Supervisory Authority (BaFin) and the Deutsche Bundesbank under license number 120056.

How to make a deposit to JFD Bank?

You can deposit funds by bank transfer (SEPA or non-SEPA) or by using JFD’s online payment systems – Safecharge, Skrill, Neteller and SOFORT. Security is very important to JFD Bank, so JFD Bank only accepts deposits from accounts in your name. If you use bank transfer, this account must be entered as a reference account at JFD. You can either state this when opening the account in the online form (OAOF) or contact JFD Bank’s customer service later to change the reference account or add a new one.

  • JFD’s bank details for bank transfer deposits
  • Log in to My JFD to fund your account online

The minimum deposit is EUR 500 (account in euros), CHF 500 (account in Swiss francs), GBP 500 (account in British pounds) or USD 500 (account in US dollars). Should you z. B. want to deposit USD into an account in EUR for the first deposit, this is of course also possible. Please note, however, that you then need the equivalent of EUR 500 in USD to be able to use the live account.

If you deposit money using JFD Bank’s online payment method, it will be available within 24 hours (on bank working days). If you are depositing funds via bank transfer it may take longer, depending on your bank’s terms and conditions.

There is a minimum deposit of 500 units in the base currency of your JFD account. Please note that the minimum amount for a single transfer via Skrill, NETELLER or Safecharge is 5.00 EUR / USD / GBP / CHF.

Withdrawal of funds via Bank transfer

You can easily withdraw your money via bank transfer. Simply log into My JFD and fill out the mask in the payout area.

Based on the AML guideline DI144-2007-08 2012 of the Cyprus Securities Exchange Commission and related EU regulations to avoid the possibility of commissioning financial crimes, JFD only processes withdrawals and refunds to the origin of the original deposit. Please note that if both payment methods are used at the same time, i.e. payment by credit / debit card (online payment method) and by bank transfer, the payments must first be made to the credit / debit card up to the total payment amount using the online payment method and first then the excess amount available can be transferred by bank transfer.

We would like to point out that in the case of using an online deposit (credit card) and transfer, the funds deposited via the online solution up to the full amount are processed first and then all funds deposited via transfer.

JFD does not charge any fees for the execution of the transfers and does not add any surcharge to any fees incurred by the banks. However, banks can charge JFD and / or the customer directly. If such fees apply, they will be deducted directly from the customer’s transfer amount, by JFD and / or the relevant bank.

Withdrawal of funds via online payment system

Please note that you can only withdraw money via SafeCharge, Skrill and SOFORT – JFD’s online payment system – if you have also made an online deposit via Safecharge beforehand. There are several ways to withdraw funds:

Safe charge:
Credit Standard: Repayment of an amount that is equal to or less than the amount previously paid in. There are 2.00 EUR / GBP / USD / CHF fees and processing will take two to three days.
Credit Extra: Repayment of an amount that is higher than the amount previously paid. The costs for this are 2.00 currency units per transfer and take 3 to 10 days. Please note, this only applies if your country participates in the CFT program. Click here to find out if your card and country are affected. In this case, the difference will be transferred.
Skrill:
You will be charged 1% of the amount to be withdrawn, up to a maximum of 10 EUR / 11 USD / 8 GBP / 11 CHF. Please note: There are no additional fees if you want to withdraw more than you have deposited.
Neteller:
You will be charged 2% of the amount withdrawn, up to a maximum of $ 30. Please note: There are no additional fees if you want to withdraw more than you have deposited.

Processing time of fund withdrawals

Please note that this information is only intended as a guide and depends above all on the banks involved in the process!

Transfers to a German bank account usually take 2-3 working days.

Transfers to a European bank account usually take 3-5 working days.

Transfers to banks outside Europe usually take 4 – 7 working days.

Withdrawals with Standard Credit from SafeCharge (for withdrawals equal to or lower than the original deposit) usually take 2-3 working days.

Withdrawals with Extra Credit from SafeCharge (for withdrawals that are higher than the original deposit) usually take 3-10 working days.

Withdrawals that use the online provider Skrill / Neteller receive a corresponding credit within 24 hours (on bank working days) after receipt of the withdrawal request.

Withdrawals via the online payment provider SOFORT will be credited to your account within 1-3 working days of receipt of the withdrawal request.

What is the maximum amount you can transfer online?

For Safecharge (Visa, Maestro or Mastercard), the maximum deposit amount is 10,000 units per day. You cannot make more than 5 deposits per hour and more than 8 deposits per day.

Through Skrill, KYC verified customers can deposit unlimited amounts of their Skrill balance and through their credit / debit card. Non-KYC verified customers are subject to a deposit limit of around 2,500.00 EUR / per year (depending on the respective country).

With SOFORT, the maximum deposit amount is 50,000 euros per day or 15,000 GBP per day.

Verified Neteller customers can deposit up to 10,000.00 EUR per transaction if their accounts do not have lower limits. Unverified Neteller customers have a deposit limit in the range of 1,800.00 to 3,000.00 EUR per year, which varies depending on the risk profile and country.

How secure is online payment?

SafeCharge is certified by the Payment Card Industry Data Security Standards (PCI DSS) Level 1. PCI security standards are operational requirements set by the Payment Card Industry Data Security Standards Council to protect cardholders. All dealers and organizations that store, process or transmit this data are subject to these standards.

Skrill was the first e-money provider in Great Britain to be authorized by the Financial Conduct Authority (FCA). The transmitted information is encrypted according to the highest standards of the Payment Card Industry Data Security Standards (PCI-DSS Level 1), so that your data is illegible should it fall into the hands of an unauthorized third party.

NETELLER is one of the most trusted online payment systems in the world, authorized by the Financial Conduct Authority (FCA). The transmitted information is encrypted according to the highest standards of the Payment Card Industry Data Security Standards (PCI-DSS Level 1), so that your data is illegible should it fall into the hands of an unauthorized third party.

SOFORT is one of the safest online payment options. Your online banking data and the confirmation code are entered within the secure payment environment of SOFORT GmbH, to which the merchant has no access. Sensitive information (such as confidential login information or confirmation codes) is not saved. SOFORT GmbH has the TÜV seal for “verified data security” and also a certificate for “verified payment systems”, awarded by TÜV Saarland.

Trading Commission on JFD Bank’s accounts

There are commissions when trading through JFD. JFD Bank is firmly convinced that this stands for classic, serious brokerage. JFD Bank does not hide any costs in the spread and act completely transparently. You can see from JFD Bank’s prices which spreads the market currently has (forex, stocks) or which spread JFD Bank needs to hedge ourselves in the respective reference market (CFDs on indices, commodities). If you place a trade, JFD Bank charges a commission. Please note JFD Bank’s contract details. JFD Bank doesn’t make money on your trade through the spread. This approach is transparent, fair and – by the way – cheaper.

There is only one market and only one spread. Every trader has equal access to the market. JFD Bank is convinced that this is the most transparent option and that every trader deserves the best market access.

High-volume traders can get discounts on the commissions payable.

Scalping and use of EAs on JFD Bank

JFD can be used with any trading style and any Expert Advisor (automatic trading system). JFD does not have a dealing desk and never holds the counter position of the trader. So JFD Bank looks forward to every scalp trader.

In forex trading, the smallest trade size is 0.01 lot or 1 micro lot (1,000 units of the base currency), for CFDs on indices and commodities 1 lot (= 1 CFD). There are exceptions for some symbols (index CFDs), as these can also be traded with a mini-pilot size (0.1 CFD). You can find a complete overview in JFD Bank’s contract details.