JCB Card Forex Brokers

JCB Card Forex Brokers 2017

JCB cardJCB card FX brokers are forex brokers that provide their traders with the ability to deposit trading capital and also withdraw any profits which have been made using the JCB cards.

JCB stands for “Japan Credit Bureau”, a credit card company which is based in Tokyo, Japan. JCB cards have found wide usage worldwide and are used by approximately 80 million users over the platforms of more than 24 million merchants. Some of these merchants include forex brokers. The card is accepted by merchants utilizing the UnionPay network in China, the Discover network in America and also on JCB merchant sites. One place where JCB cards have found usage is on forex broker websites, where they can be used to deposit and withdraw funds. This gives the JCB card brand a large user base that cuts across Japan, China, America and other regions where JCB, Discover and UnionPay are used.

Forex Brokers that Accept Deposits using JCB Cards:

Rank
Broker
Special Offer
Min Deposit
Spreads From
Rating
Max Leverage
Regulations
Support
Start Trading
1
No commissions
$50
0.8 PIPs
30:1
CIMA, NFA, CFTC, FCA, IIROC, ASIC, FFA Japan, MAS, SFC of Hong Kong
Forex trading involves significant risk of loss and is not suitable for all investors.
1
Spreads From 0.8 PIPs
Max Leverage 30:1
Min Deposit $50
2
Rapid Crypto Transactions
$10
0.8 PIPs
500:1
2
Spreads From 0.8 PIPs
Max Leverage 500:1
Min Deposit $10
3
Lifetime demo account
$250
0.1 PIPs
30:1
CFTC
3
Spreads From 0.1 PIPs
Max Leverage 30:1
Min Deposit $250
4
Same Day withdrawals
$10
1.2 PIPs
500:1
4
Spreads From 1.2 PIPs
Max Leverage 500:1
Min Deposit $10
5
EUR/USD from 0.5 pips
$200
0.5 PIPs
30:1
CySEC, FCA
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
5
Spreads From 0.5 PIPs
Max Leverage 30:1
Min Deposit $200

About JCB Card

JCB Card FX brokers have leverages on this facility to ensure that eligible traders make use of this card to deposit and withdraw funds. There are some geographical restrictions in place, and countries where funding of terrorism, money laundering and other forms of organized crime are not allowed to use this card on their platforms so as to sanitize the trading marketplace.

For traders who are allowed to transact with their cards on the platforms of the JCB card FX brokers, there are measures in place to ensure that the security of the card users is assured. Some of these are:

  1. Cardholder’s name and forex trading account name must be similar and belong to the same person.
  2. No third party card transactions are allowed.
  3. Cardholder’s details must be verified by sending a scanned copy of front and back of card (with sections of card number blocked off), containing the expiry date, cardholder’s name and security code.

How the JCB Card Works on a Forex Platform

To be able to use JCB card forex brokers, it is expected that you should own a JCB card. You can apply for this card either from your bank or from other merchant partners of JCB.

1. Existing Account Holders

For existing account holders on the platforms of JCB card forex brokers, how would you be expected to use your card on a forex platform? You will usually be directed to login to your forex broker’s members area, and select the option to Deposit Funds. You can then select the credit/debit card option and then enter your JCB card details to make the deposit. Deposits with the JCB card are usually instant and you can fund your accounts with as low as $100.

2. New account holders

Usage of JCB cards is preceded by a comprehensive Know Your Customer (KYC) protocol. Usually, your JCB card forex brokers will ask you to provide the following details:

1. A form of government-issued identity card. This includes a copy of a valid passport or other official government ID such as a driver’s license, national identity card, international passport, etc. The ID must be valid (i.e. not expired) and should contain the trader’s full name, expiry date of the ID card, the client’s place and date of birth, the client’s signature, as well as a recent photograph.

2. There must be a document proving your place of residence. These include a recent utility bill (e.g. electricity, gas, water or phone bill) or bank statement not exceeding the last 3 months.

3. A copy of the back & front of each card with certain data blocked out to protect the security of the card while being able to match the card to the user. Specifically, you may be asked to block out the first or last 4 digits of your card number on the front of your card, as well the 3 digits security code on the back of the card.

Some JCB card forex brokers will ask for certified copies of these documents in which case, you need to get them signed off by a public notary.

What Forex Brokers use the JCB Cards?

JCB card forex brokers will mostly be Japanese brokers. The JCB cards are a Japanese product, so you will expect to see forex brokers in Japan trying to get the local population to make use of their cards on their platforms. It has been estimated that paying clients are 60% more likely to follow up with payments made with credit cards than those who do not have access to card payment methods. So by offering the JCB card, forex brokers can easily snap up clients to make use of these cards.

Examples of brokers that use the JCB card are:

  1. FX Net Review
  2. Monex Group Inc
  3. GMO Click Securities Inc
  4. Gaitame Co Ltd
  5. Hirose Tusyo Inc
  6. IG Markets Review (Japan)
  7. Interactive Brokers review (Japan)
  8. Kanetsu FX Securities
  9. Mizuho Securities Inc
  10. Oanda review Japan Inc
  11. Saxo Securities review Japan

There are many other JCB Card forex brokers in Japan, and all are regulated by the Japanese Financial Services Authority (JFSA). Some of these brands are homegrown Japanese forex brokers while other companies such as Oanda, Saxo Bank and Interactive Brokers, are examples of foreign companies which have gone ahead to establish branches in Japan.

Whatever the case, JCB card forex brokers allow traders to get the best of Japanese style forex trading while at the same time, giving them an almost global reach with which to withdraw and spend any profits they have made.

Adam

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Adam is an experienced financial trader who writes about Forex trading, binary options, technical analysis and more.

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