I will try JAFX soon.
GreatSo just over an hour after my post here and my funds are in my landing account. Thanks finally JAFX for at least not being thieves. Thankyou! FOREX PEACE ARMY! For providing a platform that gives the affected ineffective some clout in effecting a resolution for themselves. I hope I will not need to use these avenues again, we will see come time to withdraw from my account.
It's good for being honestJAFX has decided to open an account on Forex Peace Army in the hopes that if someone has a problem with JAFX and feels that our customer service or complaints team has not dealt with it sufficiently that they can publicly discuss it with us here, which we are more than happy to do. If we did something wrong then we will be the first to hold our hands up and admit it!
HOW TO RESOLVE YOUR COMPLAINT WITH JAFX
1) The first point of call is our customer service team. Please contact our customer service team about your complaint through either Live Chat, Email (support (at) jafx.com) and call one of our phone numbers on the contact page: https://www.jafx.com/contact-us/
2) If you feel that the customer service team have not resolved your complaint or you feel that they have been unfair in the way they have dealt with it, then please file a complaint to senior management where we will try and resolve the issue at a higher level. https://www.jafx.com/complaints/
3) If you still think that the complaint has not been resolved then please post below on the thread and we will publicly discuss your complaint. We will not post sensitive data of our clients however we will be posting screenshots/chat logs/email transcripts to back our claims.
We are very sad to see that some users resort to posting “scam” threads about JAFX before getting in contact with us. There is just no need for it and all it does is damage our reputation that we are working on so hard to build.
So to get the ball rolling I would first like to address some of the “scam” threads that are out there.
Lets start with the...
We’ll give you $20 for every good review on any forex website
Did we do it? Yes
Do we regret it? Absolutely
Why did we do it?
The main purpose to ask members to post reviews about JAFX was simply to gain exposure, we ideally thought that we would naturally (or I guess artificially) get lots of reviews that would help us gain valuable backlinks from affiliate sites to raise our Google rankings. I know this isn’t exactly the organic way but lets face it, who doesn’t build backlinks these days… The obvious problem here was that when we asked for reviews…. We asked for GOOD reviews which was the biggest mistake we made… and of course giving them a monetary reward to entice them to do it. We completely hold ours hands up here and would publicly like to say WE ARE SORRY! However, we are not sure how we can even rectify this or if it’s just one of those things that will haunt us forever.
One thing that I do want to point out is that if you look at when we posted the thread about asking people to review us (9th Feb 2017) and then look at the reviews then it’s very clear that no one actually took us up on the offer.
So to just state on the review page that we pay for reviews isn’t very professional, FPA could at least be a bit more specific.
An idea that I came up with, is that the admins of Forex Peace Army let us start again by removing all the reviews that we have so far and we send out a mass email to our entire client base asking them to make an honest review of JAFX. We can work with the admins to come up with the email copy so it doesn’t favour a good review and they can even put moles into our database so they ensure they get the same email that was agreed. You will see that for every dissatisfied customer, there will be a hundred, if not a thousand satisfied clients. That’s food for thought and we’re open to suggestions.
The Golden Ticket and the JAFX EA
Before JAFX was launched, our trading team was working on a profitable EA for the forex market as we wanted to move away from Binary Options Signals (we all know why you should stay away from binary…). It literally took a few years to develop and when we thought we had it right, there were some set backs which caused unexpected delays. We were very conscious that if it burnt peoples accounts to the ground that it would be game over for all of us. So instead of just pushing the unfinished product out to the market, we just had to develop further to iron out the creases… although we didn’t catch them all (more on that below)…
The EA was originally offered as either a copy of the EA or to connect to it via a PAMM account that we would open on a few trusted brokers. As time went on we realised amongst other things that it was impossible to give out an EA due to how easy they are to copy which would have just destroyed the value of it and would also lead to too many people using it and getting into the exact same trade which would have caused even bigger problems. We could have further developed a signal receiver (EAR) however there were issues that needed to be ironed out.
Whilst researching for a good broker to use for PAMM accounts we very quickly realised that it is quite hard to find a reliable ECN broker on the market so we decided that instead of risking our reputation telling people to go and use XYZ broker, that we would create the ideal broker ourselves which is when JAFX was formed. By starting our own broker we could ensure that it was run perfectly, clients funds would be safe, we could use multiple liquidity providers to aggregate the feeds giving us access to the best trading conditions possible and everyone would be happy.
We offered clients the opportunity to buy a “Golden Ticket” which in essence was a way that they could pay a one off fee before it was launched and then never have to pay a penny in profit share. No one was forced into buying the golden ticket and we had lots of clients that rather paid the profit share instead. The Golden Ticket purchase not only benefitted people for using the EA, but it also allowed them to trade manually (or with their own EA) on JAFX commission free ($4 commission RT) which if you’re using a scalping EA would be the difference between winning and losing in some cases.
We launched the EA on JAFX first and it was a partial success. The EA was constantly making money but a lot of people were getting frustrated that during our live testing (The MyFxBook link we gave out) the markets were more favourable and the profits were a lot larger. We were constantly trying to improve the EA due to this pressure which resulted in several versions of the system being launched, “JA High Risk” and “JA Low Risk” (later renamed to “Capital Trader High Risk” and Capital Trader Low Risk”).
During the whole process, we constantly updated clients via email blasts and Facebook updates and if anyone was REALLY not happy with the changes and were not using the Golden Ticket status, then they requested a refund and we sent it. We did not however refund people that were actively using their golden ticket status and the EA.
Then the unimaginable happened, the highly advanced super EA that we spent years developing burnt everyone’s accounts over the space of 5 days… We are extremely sorry that this happened and quite frankly couldn’t believe it ourselves.
Instead of just closing everything down and running away we decided that the right thing to do, would be to reimburse peoples losses which was possible from the insanely rapid growth of JAFX. We emailed everyone who was affected and made a Facebook post about it which you can see below:
It financially hurt more than you could possibly imagine but it was the right thing to do and people LOVED us for it!
Moving forward I’m not sure if we will ever be able to release an EA again. You could do all the back testing and live testing you want but that does not by any means guarantee the future results of any automatic system..
If JAFX was such a big scam then why would we reimburse such a large amount and why wouldn’t we just get everyone’s capital and disappear in a big cloud of smoke???
I’ll tell you why…. Because we’re not a scam! There are just a few disgruntled people out there that make it their life mission to try and ruin reputations because they are simply pissed off!
Try and find threads and threads of people complaining that they never received their withdrawals… in fact I haven’t even seen one thread about that…. Because we pay out every time on time!
JAFX is a solid broker that offers some of the best trading conditions possible. Our team is growing rapidly to accommodate for insane growth of new clients and clients that do use JAFX know why they will stay with us forever.
We fully agree that there have been times where we have made mistakes and if we could go back and do things differently, we would. Hindsight is a wonderful thing but luckily, we can learn from our mistakes and build a brighter future.
If you have a complaint against JAFX then I urge you to follow the 3 steps at the beginning of the post or if you would prefer that we deal with it publicly, then skip 1 and 2 and post below so we can get to the bottom of it and resolve it in a professional manner.
NOTE: JAFX does not want this thread to turn into a JAFX Q&A, if you have general questions then please contact our support team.