JustForex reviews suggest that this now rebranded broker was a fraud that declined withdrawal requests, blocked accounts with funds, and perpetuated other serious, unethical practices. I dug deeper into the purported broker’s past reputation to ascertain these instances of grand misconduct. And as expected, here’s what I found based on regulatory status, user experiences, and expert reviews.
1. Compliance Issues
According to several broker review sites, JustForex operated offshore under a license from the St. Vincent & the Grenadines(SVG), before rebranding about two years ago.
On the contrary, one particular review from a third-party source suggests that it conducted business from Seychelles under a seemingly fake FSA license, possibly cloned.
Either way, any broker that operates from an offshore jurisdiction is a huge red flag in the online trading realm.
Many offshore jurisdictions, including Seychelles and the SVG, lack strong regulatory oversight. In other words, they aren’t closely monitored by any major regulatory authorities, which is why they attract many scam brokers.
2. Widespread Complaints
Further, there are numerous accounts across forums and review platforms where traders say they faced severe issues while dealing with JustForex. These include:
3. Withdrawal & Account Freeze Issues
Users on several forex discussion and rating sites, such as babypips.com and forex-ratings.com have shared disturbing stories, including:
“I was officially locked out of my account… they will conduct a periodic review… and could not withdraw profits.”
Source: BabyPips.com Forum
“After a period of profitable trading, I made a withdrawal order but was then canceled… they subtracted all the money in my account for very stupid reasons.”
Source: BabyPips.com Forum
“My account was cleaned from 15,000 to 0… they called it a software failure.”
Source: BabyPips.com Forum
“JustForex disabled trade my accounts… I couldn’t help but see my money stuck there.”
Source: BabyPips.com Forum
“This broker is really bad guys. Avoid them! … They don’t even allow me to withdraw my money.”
Source: forex-ratings.com
“This is a complete scam broker!”
Source: forex-ratings.com.
In short, there’s a consistent pattern of user complaints, especially around withdrawals, account suspensions, and alleged fund losses.
JustForex Was An Outright Scam
The purported broker’s questionable compliance, coupled with offshore operations, and disturbing complaints across multiple platforms were serious red flags. Many traders reported having their funds withheld or lost, and their accounts blocked by this entity.
Based on the troubling feedback, many review sites and experts flagged it as unsafe, discouraging traders from it.
But how is JustForex directly linked to JustMarkets, which Scamreader considers a reputable broker? Isn’t it confusing that justforex.com, a questionable domain, automatically redirects to justmarkets.com, which scamreader.info regards as reputable?”
Well, it’s indeed very confusing, but here’s what you should know regarding the link between JustForex and JustMarkets:
1. JustForex Had a Rebranding Strategy
Many dubious brokers who have attracted negative publicity will rebrand to continue luring traders.
JustForex rebranded to JustMarkets around two years ago(i.e., between 2022 and 2023), maintaining the same business model but revamping its brand image.
Heavily associated with scam accusations, withdrawal complaints, and bad reviews, JustForex rebranded to JustMarkets while highlighting its newer licenses (CySEC, FSCA, FSA, FSC). The company’s goal was to distance itself from negative reputation.
Under the old trading name, JustForex, the broker mainly operated as a trading platform lightly overseen and supervised in the offshore jurisdiction of the Saint Vincent and the Grenadines(SVG).
After rebranding, the broker re-emerged as JustMarkets, claiming stronger regulation under CySEC and FSCA in an attempt to borrow credibility.
Notably, the broker is registered under the trading name; “Just Global Markets (PTY) LTD” in the South African jurisdiction where it’s apparently regulated by the FSCA.
2. JF Global Limited
Both names and their respective domains, “JustForex” and “JustMarkets” belong to the same parent company, JF Global Limited, and its group affiliates.
JustForex was the old trading name up until around 2022-2023, when the broker rebranded to JustMarkets.
Overall, even if the newly rebranded broker claims to be licensed, the same operating history and business model carry over. Rebranding does not settle the past withdrawal issues and alleged scams tied to JustForex.
Instead, it only makes the broker legitimate on paper at the moment, as it is now technically regulated and no longer an ‘unlicensed scam”.
The broker’s history of misconduct should make traders cautious. For those who wish to ever test it, don’t go all in. Instead, start with a very small deposit and check whether withdrawals are truly smooth.
How To Recover Funds from JustForex
Many scams vanish into thin air after defrauding countless victims. JustForex, however, has not disappeared. Instead, it has rebranded as JustMarkets and registered with top-tier regulators such as CySEC and FSCA.
This shift means the company’s background details, including contact information, physical addresses, and top leadership, are now officially documented. As a result, authorities have a clearer path to hold them accountable for past misconduct.
If you are a victim and have proof, your best course of action is to report the case and submit your evidence to the relevant authorities.
Conclusion
JustForex is now JustMarkets. The redirect confirms they are the same company. While JustMarkets holds stronger licenses, its track record under the JustForex name is troubling. Approach it with caution. While it is no longer an outright scam on paper since it’s now regulated, its history of scam allegations means investors should proceed with caution. The broker should earn the trust, not jump to rebranding.
JustForex FAQs
1. What happened to JustForex?
Answer: The company rebranded to JustMarkets between 2022 and 2023.
2. What was the domain for JustForex?
Answer: justforex.com.
3. Where is the company headquartered?
Answer: in Limassol, Cyprus. The office address is at 13 & 15 Grigori Afxentiou Street, Ide Ioannou Court, Office 102, 4003 Limassol, Cyprus.
4. Who were the individuals behind this fraudulent entity?
Answer: Both brands belong to the same parent company, JF Global Limited, along with its affiliates. Two of the private individuals linked to this entity are Miss Jialin Jiang and Zhuang Tong.
5. Should traders trust JustMarkets today?
Answer: While JustMarkets holds stronger licenses now, its history under the JustForex brand is disturbing. Therefore, investors should approach it with extreme caution. You should test withdrawals with small deposits instead of going all in in the beginning. Do not be misled by the new regulatory claims that come with the rebranded broker.