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JMI Brokers review

JMI Brokers


On-line since: 2016
Country of origin: Vanuatu
Regulation: the VFSC
Payment options: bank transfer, credit cards, Neteller, DixiPay
Minimum account size: $100
Minimum lot size: 0.01 lot
Leverage: up to 1:400
Spreads: 0.5 pips

About the company:

JMI Brokers provides its clients with the opportunity to trade a wide range of instruments, including currency pairs, futures (OTC), precious metals, indices and energy sources, which are traded on the world's largest exchanges.

Company. Safety of funds

The brand belongs to JMI Brokers LTD.

JMI Brokers is based in the Vanuatu offshore zone and is regulated by the Vanuatu Financial Services Commission (VFSC).

Vanuatu is a popular place of registration among forex brokers due to its minimum requirements and low corporate taxes. According to the VFSC website, the regulator intends to revise the legislative framework to improve the reputation of Vanuatu as an international financial center as well as investors’ confidence in the jurisdiction. However, today Vanuatu is not the most popular place for investment.

We always recommend working with brokers who offer client protection. This is one of the requirements from serious regulators, such as the UK's FCA and the Australian Securities and Investment Commission (ASIC). Controlled by these bodies, brokers comply with capital requirements and are members of compensation programs for customers.

However, JMI Brokers is a fairly large company which has more than 200 employees worldwide and customers from more than 100 countries.

Trading conditions

JMI Brokers trades on the NDD model. The broker offers three main types of active trading accounts, the Islamic account, and a free demo account.

In the broker's investment portfolio, there are currency pairs and CFDs for indices, stocks, oil, metals and futures.

All orders are automatically transferred to the ECN market via Bridge MetaTrader 4 technology which connects JMI servers to ECN. Trades are made at market prices through Market Execution.

Spreads for the Standard and Professional accounts start from 2 pips for pairs such as EURUSD, USDJPY, AUDUSD.

Trading platforms

Like most forex brokers around the world, JMI Brokers offers MetaTrader 4 (MT4) (for PC, web and mobile devices). For more than 10 years, this is the most popular trading platform among forex brokers and traders.

The stable and reliable platform has many functions, offers API-interface, supports PAMM and MAMM functions and has a wide range of tools for technical analysis and charting. It is also user-friendly and supports advisors and automated trading.

Additional services

The company offers the following partner programs: Partner, Money Manager and White Label.

On the site of JMI Brokers, traders will find quite a lot of educational information. However, all materials are available in English. Investors can read articles on technical and fundamental analysis, as well as posts about trading strategies.

Support service

Client care service is available 24 hours a day.

To discuss account settings or ask other questions, you can contact customer support via email, phone, or request a call back.

The head office is located in New York, and the company has also representative offices in the UAE and Egypt.

Payment Methods

JMI Brokers accepts payments through bank wire and debit and credit cards, as well as Neteller and DixiPay.

Pros:

  • MT4;
  • Islamic accounts.

Cons:

  • Offshore broker;
  • high spreads.

JMI Brokers 6/10 (votes 5387)
Author of JMI Brokers: Waqel | Date 2021-02-02
I have no troubles with JMI Brokers, service and support is better than the previous brokers, sign up process is rapid and spreads and executions is amongst the best that I have ever experienced. I am trading often, and the platform is stable for me. Their payments methods are outstanding; I just hope they stay this way.
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Author of JMI Brokers: Rojas | Date 2020-11-26
The overall trading experience at JMI Brokers is fine. The platform is not perfect but it is manageable and I am still able to earn decently. My only concern really is on their withdrawal system. When depositing money, the transaction is done on the same day. But when it comes to withdrawing the profits, it could take them more than a week before finishing the transaction. I understand that they are practicing security protocols but more than a week is a too long time to process withdrawals.
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