JB Alpha review
About the company:
JB Alpha is an Australian brokerage firm that offers trading and consulting services.
The company has a wide range of financial products providing retail and institutional investors with access to global markets.
Account management and some other services are implemented through counterparties such as AxiTrader, CommSec, FXCM, Pepperstone, SaxoBank, etc.
Company. Security of funds
JB Alpha is regulated by the Australian Securities and Investments Commission (ABN 76 131 736 415). It is one of the most reputable regulatory agencies in the world. Clients can be sure that their funds are kept in segregated bank accounts. It lowers the risk of possible illegal activities on part of the broker.
However, ASIC does not have a compensation scheme. Thus, in case of the broker’s bankruptcy, traders will not be able to get their funds back.
JB Alpha’s clients can trade in various financial markets. Traders may choose from CFDs, currency pairs, indices, stocks, commodities, futures, options, etc.
The broker provides a non-standard option of trading bonds of companies from Eastern and Central Europe. Clients can buy and sell company shares from Romania, Lithuania, Latvia and many others. However, the company does not offer CFDs on cryptocurrencies.
You can open an individual, joint, corporate, or trust account.
Minimum initial deposit
On the website, there is no information about account types the broker offers, as well as the minimum deposit required. In our opinion, the lack of information about trading conditions always negatively affects the traders’ demand.
Spreads and commissions
Through a demo account we were granted access to the trading platform. The spread on EUR/USD totaled 0.3 pip. It is a favorable offer compared to the industry’s average of 1.5. However, there is also a commission of $50 for every ten lots. Thus, the spread with all trade costs comes to about 0.8 pip. It can be considered as a broker’s advantage.
The size of leverage depends on the financial instrument: it will be 1:40 for the EUR/USD pair. This is significantly low, compared to many other brokers (1:500). Nevertheless, now there is a tendency that is aimed at getting rid of offers with a high leverage, since this causes great losses. Bearing in mind that ASIC does not insure investors’ money, it becomes clear why the broker has such a low leverage.
JB Alpha renders its clients the Saxotradergo trading platform and MT4/5. MetaQuotes software company’s products, MetaTrader 4/5, are easy to understand, and also have analytical potential: clear charts, trading history, and an ability to add indicators.
The broker does not publish analytical and news materials, but you can read the educational articles. This is especially useful for Forex beginners.
The headquarters are located in Melbourne. The support service is available via phone, e-mail, and feedback form.
JB Alpha 1/10 (votes 2212)