JFD Bank – what we know and have as facts about it; This is a brand name and registered trademark owned and used by the JFD Group of Companies, which includes: JFD Group Ltd, a company that is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 150/11; JFD Overseas Ltd that is authorized and regulated by the VFSC under license number 17933; JFD Bank AG that is authorized and regulated by the Federal Financial Supervisory Authority (BaFin) and by the Deutsche Bundesbank under license number 120056. These licenses allow it to conduct various financial services, including receiving, transmitting, and executing customer orders.
We have found in the Client Agreement text that the company receives and transmits for execution all client orders. When receiving and transmitting client orders, JFD is not the execution venue but some other third financial institutions are the execution venue. This means that the company is the intermediary and will transmit the order to some other financial institution for execution. This means that JFD Bank makes money from the mark-ups included in the spread and from the commissions. It is not a counterparty in transactions with clients and there is no conflict of interest with them.
We also found that there are some posts in forums about the presence of high negative slippage, extremely wide spreads, and higher than described commissions.
So far, we have not received any complaints from customers of JFD Bank. If you have any criticism to share with us or feel annoyed by JFD Bank, please fill in the form below, detailing your case. Once we have made your case public, we may attempt to mediate between you and JFD Bank if you wish.