JRFX is a forex broker established in Dubai on April 19, 2019. The broker offers investors CFD products in six asset classes including forex, stocks, spot indices, futures, spot precious metals, and spot energy through its proprietary mobile app and the MT4 trading platform.
Corporate Entity Registration Information and Regulation
JRFX has registered corporate entities in the United Kingdom, New Zealand, the British Virgin Islands, Dubai, and Saint Vincent and the Grenadines.
The company registered in the UK is UPWAY GLOBAL MARKET (UK) LIMITED (formerly known as ETERVAL PRIME LIMITED), with the registration number 14448632. UPWAY GLOBAL MARKET (UK) LIMITED obtained an AR license from the FCA on February 15, 2023 (license number 991852), authorized by Starmark Investment Management Limited, regulated by the UK Financial Conduct Authority (FCA). However, Starmark Investment Management Limited's services are restricted to institutional and professional clients, excluding retail clients. Therefore, JRFX's services are also limited to institutional and professional clients, not available to retail clients.
The company registered in New Zealand is JR GLOBAL MARKETS LIMITED, with the registration number 8145582. It is registered as a financial service provider on the New Zealand Financial Service Providers Register (FSP number: FSP770914). Its main business includes services related to client money or property and managing, investing, or administering funds, securities, or investment portfolios on behalf of others. However, JR GLOBAL MARKETS LIMITED has not obtained a regulatory license from the New Zealand Financial Markets Authority (FMA). (All companies and individuals providing financial services in New Zealand must be registered with the FSP. This is a basic legal requirement to ensure that all entities providing financial services have a legitimate presence and registration in New Zealand. Registering with the FSP requires meeting some basic compliance requirements, but it does not mean the company has permission to conduct all types of financial activities.)
The company registered in the British Virgin Islands is Up Way Global Markets Limited, with the registration number 2047780. This company is authorized and regulated by the British Virgin Islands Financial Services Commission (BVIFSC) under license number 01040EA90A. However, BVIFSC's offshore regulation is relatively lenient compared to major financial centers, with lower compliance requirements and less transparent information disclosure.
The company registered in Dubai DMCC is UP WAY GLOBAL MARKETS DMCC, with the registration number DMCC-673932. It is allowed to conduct proprietary trading on regulated exchanges (DMCC). However, the company has not obtained authorization and regulation from the Dubai Financial Services Authority (DFSA). DMCC is one of the largest free trade zones in Dubai, offering 100% foreign ownership, zero corporate and personal income tax, complete capital and profit repatriation, and other favorable policies for businesses within the free zone.
The company registered with the Saint Vincent and the Grenadines Financial Services Authority (SVGFSA) is Up Way Global Markets LLC, with the registration number 601. However, the SVGFSA only provides basic registration and licensing services for forex and financial derivative trading, which also falls under offshore regulation. The registration process is simple, lacking a strict and comprehensive regulatory framework, resulting in relatively weak regulation.
Account Opening
JRFX account opening process: Visit the broker's official website, click "Open an account now" or "Create Account" at the top right corner of the page to enter the account registration page. Fill in personal information such as name, phone number, and email as required, receive a verification code via the provided phone number, set a login password, and submit the application form. The account will be successfully registered upon submission. Identity verification is required before deposits and trading can commence.
Trading Accounts
The JRFX website only features a promotional banner stating 0% commission fees, maximum leverage 1:1000, micro lot trading 0.01, 100+ trading instruments, ultra-fast execution <14ms, but the broker has not disclosed specific information regarding account types, spreads, margin call/stop-out levels, minimum/maximum trade sizes, maximum positions/orders, or minimum price increments.
Trading Platform
The JRFX website claims to offer the MT4 trading platform and a proprietary mobile trading client. Searching for the broker on MT4 revealed that Up Way Global Markets LLC provides services on the MT4 platform.
Deposits and Withdrawals:
The JRFX website supports deposits and withdrawals via bank wire transfer and other methods.
Conclusion
Although JRFX is a forex broker with corporate entities registered in multiple countries and regions, some of its registered companies have limited client services, others are under weak regulatory oversight, and some are merely commercially registered without actual regulation. Traderknows advises investors to carefully review the detailed information of broker platforms, consider prudently, and choose safe and reliable brokers for trading to avoid unnecessary financial losses.
Currently, JRFX is marked as "Active" on Traderknows.
