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JB Alpha is an Australian brokerage firm that also provides consulting services in addition to trading.
JB Alpha provides retail and institutional investors with access to global markets and a wide range of financial products.
Account management and several other services are provided through contractors such as AxiTrader, CommSec, FXCM, Pepperstone, SaxoBank and others.
Company. Fund security
JB Alpha is overseen by the Australian ASIC regulator (ABN 76 131 736 415). It is one of the most reputable regulatory agencies in the world. Customers can rest assured that their investments are kept in segregated accounts. This practice reduces the risk of illegal activity on the part of the broker.
True, ASIC does not have a scheme to compensate funds for customers. Therefore, in the event of a broker's bankruptcy, traders most likely will not be able to return the invested funds.
Trading conditions
JB Alpha offers its clients trading in various financial markets. Traders can choose from CFDs, currency pairs, indices, stocks, commodities, futures, options, etc. A non-standard offer from a broker - trading bonds of companies from Eastern and Central Europe. Clients can buy and sell shares of companies from Romania, Lithuania, Latvia and many others.
Despite this variety, the broker does not offer cryptocurrency CFDs.
You can open an individual, joint, corporate, trust account.
Minimum initial deposit
There is no information on the website about the types of accounts that the broker offers, as well as the minimum deposit. Lack of information on trading conditions, in our opinion, always negatively affects the demand among traders.
Spreads and commissions
Through the demo account, we got access to the trading platform. The spread on EUR / USD on the demo version was 0.3 pips. Compared to the industry average of 1.5 pips, this is a very good deal. However, the trader must still account for a $ 50 commission for every ten lots. So, the spread with all trading costs will be 0.8 pips. This is definitely a plus for the broker.
Leverage
The amount of leverage depends on the financial instrument, for example, for the EUR / USD pair, the leverage is 1:40. This is significantly lower than what many other brokers offer (1: 500). However, there is now a trend towards getting rid of high leverage offers. Since this entails great losses. If we take into account the fact that the ASIC regulator does not insure investors' money, it becomes quite logical why the broker offers a small amount of leverage.
Trading platforms
JB Alpha provides its clients with the Saxotradergo and MT4 / 5 trading platform. Developments from the software company MetaQuotes - MetaTrader 4/5 - are easy to understand, and also have analytical potential: clear charts, trading history, you can add your own indicators.
Education
The broker does not publish analytical and news materials, but you can use educational articles. This is especially useful for beginners who are just learning Forex.
Support service
The main office is located in Melbourne. The support team works by phone, email, chat and using the feedback form.
Pros:
regulated broker; selection of trading platforms.
Minuses:
leverage size; lack of information on trading conditions.
JBALPHA is a company whose task is to provide intermediary services to traders. Brokers / Crypto exchanges provide access to currency / cryptocurrency trading, first of all. Also, many of them, if we are talking about brokers, give the opportunity to make transactions with company shares, bonds, commodities, precious metals, indices, cryptocurrency and other assets. A private person can make transactions with all these instruments only on a trading platform, access to which is provided by a broker or a crypto exchange.
In addition, thanks to such companies, an individual can operate in the market with amounts significantly exceeding the amount of his own funds. This is called the provision of leverage. For example, having a deposit of 1,000 USD with a leverage of 1:400, a trader can make transactions for 400,000 USD.
As well, the broker / crypto exchange opens access to analytics, auxiliary tools, trading signals. Without all this, modern trading is impossible.
JBALPHA profits from traders' trades, usually in two main ways
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First – most common. Using spreads. This word refers to the difference between the best prices for buying and selling a certain asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between the broker and market users - another. The mediator takes the difference.
The second method is easier to understand. This is a fee for each operation performed. Most often it has a standard value, but can also be measured as a percentage.
Therefore, the company is interested in attracting as many clients as possible and that they conduct active trading.
How honest brokers / crypto exchanges should work and how they work, we found out. And now let's look at how scammers act, they are also called kitchens.
The most common way to cheat – is to twist quotes. Broker / crypto exchange gives the trader quotes that differ from the real market. There is a substitution of data in order to make operations unprofitable. The deposit is reduced, and then completely reset. At the same time, the trader thinks that his operations were made on the market, but in fact – just on the site of scammers.
Bonus – traps. They are generously distributed for anything: registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money mixed with bonus money, it will be necessary to fulfill a number of actually impossible conditions. For example, to conduct trading operations in the amount of ten times more than the size of the deposit.
The User Agreement may also mask a clause that allows the broker / crypto exchange to dispose of the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points – it is the place of registration and regulation of the company's activities.
First let's talk about registration. As a rule, traders are more trusted by companies either from their own country or from an economically developed country, for example, a member of the European Union. Of course, compliance with UK law is reassuring, and compliance with the laws of an unknown island in the Indian Ocean does not mean anything to most at all.
On fact, most brokerage companies are registered offshore, and we are talking not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are popular offshore zones among companies. Registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has claims against such a company, then it is likely that he will have to deal with it in accordance with the laws of the same conditional Belize. It is possible to be physically present there at court hearings. And this is extremely expensive and difficult.
No is it worth running like fire from just the word «offshore»? As an answer, we will cite the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes with the help of offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point – this is the regulation of the broker / crypto exchange. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokering. So, in Russia it is the Central Bank of the Russian Federation. The trader can find permits on the websites of such authorities. But there are also supranational structures. For example, the International Financial Commission, which is an independent self-regulatory organization, specifies disputes between its members – brokers and their clients.
If there is no information on the broker's website / crypto exchange about the regulation of its activities or license, then it is almost certainly a scammer. Or on the site there is data on some license issued by him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, or crypto exchanges, study its history. Look at the links to its experts. If one of the leading TV channels in the economic news for 5 years in a row refers to the opinion of the analyst of the broker in question – this is good. If the broker / crypto exchange assures that it has been working for 15 years, but there is no information about it on the Internet at all – this is bad.
It is important to pay attention to reviews about the company. And read them not only on the website of the broker itself / crypto exchange. In the kitchen, they will certainly be only praiseworthy. It is better to view as many sites as possible.
Pay attention solely to the specifics in the offers on the websites of brokers / crypto exchanges. Honest companies openly write about interest, spread size, minimum deposit, etc. Scammers lure loud streamlined phrases about a rich tomorrow, a stable income, mislead with incomprehensible terms about multi-sites, superfunctions and so on.
Specify the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers / crypto exchanges sometimes hold social promotions. Scammers will definitely not do this.
Therefore, the process of choosing a broker / crypto exchange is complicated. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich around the world
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Companies who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the company you chose. JBALPHA received a score of 1 of 5 on our resource.