Seven Reasons to Use the JForex Platform

Seven Reasons to Use the JForex Platform

JForex is a trading platform developed by Dukascopy Bank, which is one of the largest retail brokers in the world. It’s one of the original ECN brokers supporting retail traders. The JForex platform is based on Java – one of the most well-supported and friendly programming languages. This means that the platform is less likely to have any bugs and the running process is very smooth. It is supports automated trading, but at the same time, it’s user-friendly and suitable for manual traders.

There are 6 main areas of the JForex platform: the menu on the top; the order panel with market depth at the left; the charts in the centre; the workspace window in the lower left; positions, orders and message tabs at the bottom; and information on equity and used leverage on the lower left corner.

Figure 1: JForex Platform

Figure 1: JForex Platform

No Installation

Unlike many other trading platforms, JForex doesn’t require any installation process because it runs in Java directly from your browser. However, you do need to have installed the latest Java update on your personal computer to make sure it launches smoothly.

Depth of Market

The JForex platform includes a Depth of Market (DOM) feature, which computes the total number of open buy and sell orders of any currency pair at different price levels. This feature is provided by only a few forex brokers. Information gathered from the DOM will give you a sense of market direction. The price will go higher if there are larger offers and the price will go lower with larger bids.

Day Start Time-zone

The Forex market is open 24 hours a day and trading is conducted round the clock. There is no official open and close time.  If you want to align yourself and trade using the same times as professional traders do, you have to have the flexibility to adjust your charts to different time zones. The JForex platform allows its users to build daily candles for different time zones.

JForex API

The powerful connectivity and hosting services offered via JForex API (Application Program Interface) is another reason why the JForex platform stands out. The API allows clients to connect directly to a JForex price server outside of the standard JForex trading platform. Several powerful connectivity options are offered via JForex API all with the primary goal to minimize latency.

Security

JForex offers unmatched security standards. The JForex trading platform uses Secure Remote Password protocol (SRP6) which means that your password will always be encrypted. The Secure Remote Password protocol (SRP) “is an augmented password-authenticated key agreement (PAKE) protocol, specifically designed to work around existing patents.” (Wikipedia)

Swiss-based Forex Trading Platform

JForex is a Swiss-based forex trading platform known for dealing with higher-end more sophisticated traders and also institutional clients. Being a Swiss-based brand has its own advantage and the comfort of having a global recognition means that the execution quality is of the highest standard.

My name is Robert Okeke and I am the thoughts and opinions behind this website. A number of years ago, I started reading about the economy here in Nigeria and the impact the world economy has on the way our currency and commodity prices change over time. I have always had an interest in statistics and mathematics, so this was a very appealing area for me to study.