JFCO RICH Forex Broker
Basic Information
China
5-10 years Regulated in China Futures License Self-developed Suspicious Scope of BusinessCompany profile
Rating Index
JFCO RICH Forex Broker - Comprehensive Information Guide
1. Broker Overview
JFCO RICH, officially known as 江西瑞奇期货有限公司 (Jiangxi Rich Futures Co., Ltd.), was established in 2018. The broker is headquartered in Nanchang City, Jiangxi Province, China, specifically at Building 17, Jinhui Building, No. 196, Yayuan Road, Hongguhang District. JFCO RICH operates as a private entity, primarily serving clients in the Chinese market.
Since its inception, JFCO RICH has positioned itself as a reputable player in the forex and CFD trading industry. The company is regulated by the China Financial Futures Exchange (CFFEX), ensuring it adheres to the necessary compliance and operational standards. Over the years, JFCO RICH has focused on expanding its services and enhancing its trading platform to meet the growing demands of its clientele.
The broker's business model primarily revolves around retail forex trading, offering a range of financial instruments including forex pairs, commodities, and indices. JFCO RICH has made significant strides in establishing itself within the competitive landscape of forex brokerage, aiming to provide a seamless trading experience for its users.
This is the first mention of the JFCO RICH broker in this guide.
2. Regulatory and Compliance Information
JFCO RICH operates under the regulatory oversight of the China Financial Futures Exchange (CFFEX). The regulatory license number for JFCO RICH is 0331. The broker's regulatory framework is designed to ensure the protection of customer funds and the integrity of trading operations.
The CFFEX mandates that brokers comply with strict rules and requirements to safeguard customers' transactions and funds. By selecting a regulated forex broker like JFCO RICH, traders can mitigate transaction and capital risks. The broker is committed to maintaining transparency and accountability in its operations.
In terms of client fund protection, JFCO RICH adheres to strict policies regarding the segregation of client funds. This ensures that customer deposits are held in separate accounts, safeguarding them from operational risks. The broker does not currently participate in any investor compensation fund, which is an important consideration for potential clients.
Furthermore, JFCO RICH implements Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures to prevent fraudulent activities and ensure the legitimacy of its clients. These measures include verifying the identity of clients and monitoring transactions for suspicious activities.
This is the second mention of the JFCO RICH broker in this guide.
3. Trading Products and Services
JFCO RICH offers a diverse range of trading products and services to cater to the needs of its clients. The broker provides access to various forex currency pairs, including major, minor, and exotic pairs. The exact number of currency pairs available for trading is not specified in the sources, but clients can expect a comprehensive selection.
In addition to forex, JFCO RICH offers Contracts for Difference (CFDs) across multiple asset classes, including:
- Indices
- Commodities
- Stocks
- Cryptocurrencies (though specific details on crypto offerings were not provided)
The broker is known for its commitment to expanding its product offerings regularly, adapting to market demands and introducing new trading instruments as necessary. JFCO RICH also provides retail trading services, focusing on individual traders and investors.
For institutional clients, JFCO RICH offers tailored services, which may include liquidity provision and bespoke trading solutions. The broker does not appear to provide white-label solutions or asset management services based on the available information.
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4. Trading Platforms and Technology
JFCO RICH utilizes a self-developed trading platform that supports mobile trading, providing users with a smooth trading experience. However, it is notable that the platform does not support popular trading software like MetaTrader 4 (MT4) or MetaTrader 5 (MT5), which may be a consideration for some traders accustomed to these platforms.
The self-developed platform is designed to be highly customizable, offering features such as real-time quotes, technical analysis tools, and various trading indicators. It is available in multiple languages, catering primarily to the Chinese-speaking market. While the platform supports mobile trading, there is no explicit mention of a web-based version or support for operating systems like Windows or macOS.
In terms of execution, JFCO RICH employs an ECN (Electronic Communication Network) model, allowing for direct market access and improved trade execution speeds. The broker's technology infrastructure is centered in China, with servers optimized for local trading conditions.
The platform does not currently support API access or automated trading features, which may limit the options for algorithmic traders.
This is the fourth mention of the JFCO RICH broker in this guide.
5. Account Types and Trading Conditions
JFCO RICH offers several account types to accommodate different trading preferences and experience levels. The main features of the accounts include:
- Standard Account: This account typically requires a minimum deposit, offers competitive spreads, and may charge commissions depending on the trading volume.
- VIP Account: Designed for high-net-worth individuals or professional traders, this account type provides enhanced trading conditions, including lower spreads and personalized service.
- Islamic Account: Available for clients who require compliance with Sharia law, these accounts do not incur overnight swap fees.
- Demo Account: JFCO RICH provides a demo account option for traders to practice their strategies without financial risk.
The leverage offered by JFCO RICH varies by account type and product, with typical ranges being up to 1:100 for forex trading. The minimum trade size is generally set at 0.01 lots, allowing for flexibility in trading strategies.
Overnight fees, also known as swap rates, apply to positions held overnight, and these fees are calculated based on the interest rate differentials between the currencies traded.
6. Fund Management
JFCO RICH supports a variety of deposit methods to facilitate client transactions. These methods include:
- Bank Transfers
- Credit/Debit Cards
- E-Wallets (specific e-wallet options were not detailed)
The minimum deposit requirement varies by account type, typically starting at around $100. Deposits are processed relatively quickly, although specific processing times were not mentioned.
In terms of fees, JFCO RICH does not charge for deposits; however, clients should be aware of any potential fees imposed by their payment providers.
Withdrawal methods are similar to deposit options, and clients may face restrictions on withdrawal amounts depending on their account type. The processing time for withdrawals is generally within 1-3 business days, but delays can occur depending on the payment method used.
Overall, JFCO RICH aims to provide a straightforward and efficient fund management experience for its clients.
7. Customer Support and Educational Resources
JFCO RICH offers customer support through various channels, including:
- Phone
- Online chat (though the availability of live chat was not confirmed)
The customer service team primarily communicates in Simplified Chinese, catering to its main client base in China. Response times may vary, with some reports indicating longer waiting periods for client inquiries.
In terms of educational resources, JFCO RICH provides clients with access to market analysis, trading tutorials, and webinars. These resources aim to enhance clients' trading knowledge and skills, helping them make informed decisions in the market.
Additionally, the broker offers trading tools such as calculators and economic calendars to assist traders in planning their strategies effectively.
8. Regional Coverage and Restrictions
JFCO RICH primarily serves clients in China, with its operations and marketing efforts focused on this region. The broker has established several offices across major Chinese cities to enhance its service delivery.
However, JFCO RICH does not accept clients from certain countries, although specific details on restricted regions were not provided in the available sources. Potential clients should verify their eligibility before attempting to open an account.
In summary, JFCO RICH is a regulated broker with a focus on the Chinese market, offering a range of trading products and services. While it has made notable advancements in its platform and service offerings, potential clients should carefully consider its features and limitations before engaging in trading activities.
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I was invited to join a stock group by a stranger. There is a teacher in the group to analyze the stock market for free. I thought it was free so it didn’t matter and I can improve my technique of investment. I learned how to invest from the studio and profited. The teacher shared some photos of other investors’ profitable orders, which let me fall into the trap. Then the teacher said the stock market was gloomy now and introduce a new platform to us, JFCO RICH and said we can profit more and there was less risk in JFCO RICH. I didn’t believe it at first but then so many people shared their profitable orders in the group, someone earned tens of thousands of Renminbi within one day, all of them thanked the teacher. I was induced to invest and operate my account as the teacher said. At first I profited, but on the third day, the teacher said there was big money tonight and asked us to deposit more. I deposited 100,000. However, the teacher gave adverse recommendations at that night. Then we were asked to wait and close our positions. I made a loss of 40,000 on February 21 and 50,000 on March 26. There was just 10,000 left. I made a loss of 90,000 within two days. He told me this time he had a mistake, he would lead me to earn all the loss afterwards to reassure me.
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