Worked example
Practising on JFD Brokers's numbers
This is an exercise sheet, not a review. We are going to take three things that JFD Brokers publishes — a spread, a ladder of account types and a list of licences — and turn each of them into something you can do arithmetic with. By the end you should be able to repeat the whole exercise on any firm you come across, which is the actual skill being taught.
The figures we are working from
Nothing below is our estimate. Where a firm has not published something, or we could not read it on a source we trust, the box says so instead of guessing — a habit worth copying when you build your own broker notes.
Exercise one — turn the spread into money
JFD Brokers does not publish a EUR/USD spread we were able to verify, so there is no honest arithmetic to do on this page. Do not substitute a number you read on a comparison site: an unverified spread quietly becomes an unverified cost, and then an unverified plan. Use one of the other examples on the practice index for this exercise and come back to this file for the account ladder below.
Exercise two — read the account ladder
Account tiers are a pricing structure dressed as a status ladder. JFD Brokers offers 3 rungs. Read them as a question — what does each rung ask of me, and what does it give back? — rather than as a set of prizes to climb towards.
- StandardThe entry rung. Whatever the published spread applies to, it is almost always this one — so this is the rung your arithmetic above describes.
- ZeroA higher rung usually trades a tighter spread for a commission, a larger deposit, or a status test. Convert both pricing models to money per lot before you decide either is cheaper.
- DemoA higher rung usually trades a tighter spread for a commission, a larger deposit, or a status test. Convert both pricing models to money per lot before you decide either is cheaper.
Account names as published: Standard, Zero, Demo. Platforms listed: MT4, MT5.
Exercise three — what this licence list means for you
A long licence list is not automatically a good sign. What matters to a beginner is a narrower question: which entity would hold my money, and who supervises that entity? Those are often not the same as the impressive name at the top of the list. Here are JFD Brokers's lines, each with a plain reading.
| Regulator | Entity on the register | Number | What that means for a beginner |
|---|---|---|---|
| CySEC · Cyprus | JFD Group Ltd | 150/11 | a mid-tier regulator: real supervision and a register, usually with a smaller or capped compensation scheme |
| VFSC · Vanuatu | JFD Overseas Ltd | 17933 | an offshore registration: a company exists and pays a fee, but expect little practical recourse from that entity |
No top-tier line appears on this file. That does not make the firm illegitimate, but it does mean the compensation-scheme and capital-rule protections a beginner usually assumes are present are not evidenced here. 1 line is offshore registration; treat those as a company address rather than as supervision.
The record behind these numbers
- JFD Group Ltd is a Cyprus company with registration number HE 282265, authorised and regulated by CySEC under licence number 150/11 (own GDPR/legal page).
- JFD Overseas Ltd is authorised and regulated by the Vanuatu Financial Services Commission under licence number 17933 (group legal text).
- JFD Brokers was founded in 2011 by professional traders (own about page); operations began in December 2011.
- The group states JFD Group Ltd serves clients resident in the EEA and certain third countries under MiFID II.
What we could not verify
The following are unconfirmed and are deliberately left blank rather than estimated: minDeposit not verified on an own spec page; maxLeverage not verified on an own spec page; spreadEurusd not verified; segregatedFunds not verified in own legal text; negativeBalanceProtection not verified in own legal text; accountTypes list not fully verified (Standard/Zero naming from directories). Confidence in this file overall: medium. When you build your own notes on a firm, keep a list like this one — the gaps are more useful than the figures, because they tell you what to go and check.
Run the same exercise on another firm
pipdojo.com does not rank brokers, does not award badges and does not tell you where to open an account. This page exists so the arithmetic you learn in the curriculum has real numbers to bite on.