JP Markets Review: Is this broker legit, safe and trustworthy for UAE citizens and residents?
JPMarkets asserts that they are the largest broker in Africa. This is rather
a bold claim to make given that trading has exploded in popularity throughout
several African nations over the course of the past few years. This broker is a
Financial Services Board-Approved Brokerage (FSP no. 46855) that gives their
customers in Africa access to the popular MT4 platform as well as the advanced
technology that comes along with it so that they can trade in the international
financial markets, more specifically forex currencies. Justin Paulsen, the
founder of the brokerage, started the company in the year 2016. On their
website, in the document titled "Company Profile," you can discover in-depth
information about his educational background as well as his experience working
in the trading industry. Visit JP Markets
They run their business out of a number of different nations around Africa, with South Africa serving as their primary base of operations. JPMarkets states in their Company Profile that they are committed to playing a significant role in the establishment of at least 30 brokerages in Africa that are owned by Africans by the year 2020. This statement is made in reference to the continent of Africa. You can find a list of the services that this broker provides on their website. Some of the services include ECN or STP accounts, low spreads, instant deposits, and fast withdrawals, a custom JP Markets App, stable and secure servers, and a wide selection of trading instruments, such as stocks and cryptocurrencies.
Having said that, we did come across quite a large number of online
complaints about this broker, with many customers claiming to have serious
issues when depositing, trading, or withdrawing their funds. Having said that,
we did come across quite a large number of online complaints about this broker.
This is somewhat surprising given that this broker earned the award for Best
Forex Broker in South Africa from the Global Business Outlook in 2019, as well
as the award for Fastest Growing Forex Broker in South Africa from International
Finance. Join us as we examine the company's website as well as the terms and
conditions that they provide because it seems extremely paradoxical for a scam
broker, as the internet reviews claim, to be able to receive such honors.
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This broker provides support for the widespread MT4 trading platform, which is utilized by thousands of traders located in every region of the world. This platform provides traders with a variety of helpful tools that may be used to improve their trading, including as sophisticated charting, comprehensive backtesting, and a very vast selection of technical indicators. Expert Advisors are a special type of product that has gained a lot of popularity recently. These advisors enable users to fully automate their trades and, in essence, let the platform handle all of the trading for them. Clients of JPMarkets are not permitted to employ automated techniques in their trading, which is a very unfortunate restriction.
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In addition to the MT4 platform, this broker provides access to its own own JPMarkets platform, which is accompanied by a mobile application (App) for both Android and iOS devices. This program provides users with complete control over their trading account, and it instantly reflects any deposits made by users, enabling them to participate in trades as soon as possible. This platform enables customers to create new Meta Trader accounts with a variety of deposit currencies, as stated in the application description. Customers may also use this platform to move cash between their existing Meta Trader accounts. The evaluations of this platform that can be found online are almost universally unfavorable. Customers have complained about a variety of issues, ranging from their money being stolen from their accounts to a severe absence of customer service.
Be sure to conduct some research about the past of this broker and their
platform before deciding whether or not it would be a good idea for you to use
either of them if you are considering opening an account with them and utilizing
When trading with JPMarkets, customers have a maximum leverage of 1:500 at their disposal. Because their website does not provide any information about accounts or the leverage that is available, we were able to obtain this information from a screenshot of an open account that was located on their FAQ page.
This broker has a 0.01-lot minimum transaction size requirement for all trades. Once again, their website does not provide any more information, such as the maximum size of a deal.
Customers who make use of an ECN account will be assessed a $10 fee per lot. Although this broker does mention that VIP accounts have lower commission costs, they do not provide any specifics on the extent of such savings. We did find some additional information regarding commissions or fees that customers may be required to pay on their terms and conditions page. Specifically, it stated that the company reserves the right to change commission rates at any time, and that it is the customers' sole responsibility to check the applicable section of their website on a regular basis for any updates.
Strangely, we were unable to locate any information on the assets that may be purchased through this broker. We attempted to get in touch with the broker via email in order to inquire further, but we were not provided any responses to our questions. The information that they provide over 200 Forex and Currency pairings, certain cryptocurrencies, Commodities, Market Indexes, and equities is something that we have learned from reading internet customer evaluations; however, we are unable to verify whether or not this information is genuine.
When clients trade with JPMarkets, the spreads they face are subject to
change dependent on the conditions of the market. This particular broker asserts
to have extremely competitive spreads; for instance, they indicate that under
regular market conditions, customers may obtain EUR/USD for about 2 pips on
average. Because it does not provide any specific information on the current
spreads that are being given, prospective customers should not interpret this
statement as fact because it does not present any such information.
In contrast to the majority of brokers, JPMarkets does not have a rigid minimum deposit requirement in order to initiate the opening of an account. Their customers are free to invest whatever amount that is within their means and with which they feel comfortable. However, they do suggest making an initial payment of anywhere between one hundred and two hundred dollars, with the caveat that this is especially important for customers who need a significant amount of instruction.
The following payment options are available for customers to use while making deposits: Visa, MasterCard, iPay, local bank transfers, M-Pesa, PayFast, Skrill, and SnapScan. Bitcoin may also be used by customers to finance their accounts, however this option is only available through Skrill.
The processing of withdrawal requests takes place Monday through Friday between the hours of 9 am and 5 pm GMT +2. (South African Standard Time). This broker gets back to customers to check and confirm withdrawal requests. This practice is done for safety concerns. As a consequence of this, the withdrawal procedure might potentially take longer. Clients may find a detailed, step-by-step guide on withdrawing cash from their JPMarkets accounts on the Frequently Asked Questions part of the company's website. Before putting in such a request, this broker makes it quite apparent that all customer paperwork ought to be in order and in good standing. This evidence consists of clear scanned copies of the customer's identification card, proof of address, and a bank statement validating the specific bank information of the client.
According to the information supplied on their website, withdrawal requests are dealt with instantly and payments are made within four hours provided that all required documentation is in order and the customer has verbally confirmed the request. We did come across a very high amount of internet complaints involving problems with the process of withdrawing money, as we have alluded to briefly in the past. We are unable to determine whether or not these were the consequence of a technical fault or whether or not this is a clear warning that you should avoid JPMarkets.
There is a perk available to customers of JPMarkets who use their Android app. Clients will be eligible for a bonus worth one hundred percent if they choose to trade utilizing this strategy. Even users who do not possess an Android phone can still use the internet site and be considered for the giveaway. When Apple finally gets around to publishing the application, those customers who have iPhones will be able to utilize it.
This broker asserts that there are no bonus levels or scaling, and instead offers a 100% bonus on all deposits, up to a maximum of R140,000 (or the equivalent in USD). Because the incentives are instantly applied to customer accounts that make use of the JPMarket interface, customers should be able to view the bonus immediately after making a deposit. After a period of ninety days, the bonus will no longer be available in the account. It is important to remember that customers are only permitted to utilize the bonus funds for trading purposes because they cannot be withdrawn. The maximum bonus that a customer may receive at any given moment is equal to one hundred percent of their balance.
It would appear that JPMarkets places a high priority on education as seen by the extensive instructional content that can be found on their website. Clients may access a comprehensive Forex education course, an economic calendar, how-to materials, and a glossary of common trading terms and phrases on this website. In addition to this, they offer a section on their website called Total Trader, in which one can locate a lot of intriguing articles that first-time traders may find to be helpful.
They also offer a blog section with a lot of blog entries concerning forex trading and methods, however it does not appear to be updated very regularly since the most recent blog post was written in March of 2019.
This broker may be reached via e-mail, by telephone, or through the chat tool that is offered on their website. At the time that we were preparing this evaluation, we were unable to find any buttons for Live Chat on their website. We also attempted to get in touch with this broker through email, but after a day and a half, we had not gotten a response. In the same vein as their withdrawal procedures and conditions, this broker asserts that they provide exceptional support to their customers, despite the fact that web evaluations demonstrate the complete contrary. Although we are unable to verify whether or not the claims made in these critical evaluations are grounded in reality, our own experiences indicate that JPMarkets' customer service is deficient in a variety of areas. This is the information that may be used to contact them;
The number to call is: 087 828 0576
You may utilize JPMarkets' demo account by filling out their online application form if you would want to test out their trading conditions before making a real investment. You will be able to begin trading as soon as you have received the information necessary to log into your account, which will give you a starting balance of $10,000.
Because of regulations imposed by the US Securities and Exchange Commission (SEC), JPMarkets does not work with residents of the United States.
JPMarkets is a South African broker that is licensed and offers support for the MT4 trading platform. The fact that we had to search for information that ought to be made abundantly evident on their website, such as leverages, spreads, and assets, is plainly irritating for prospective customers. This broker does apply certain commissions to two of its accounts, specifically the ECN and the VIP, but the information isn't presented in a way that's extremely transparent to the customer. Their customer service left a lot to be desired in our experience because their support personnel did not provide us with any solutions to the questions we had.
They do provide an appealing bonus of one hundred percent on all accounts, however this bonus can only be utilized for trading and cannot be cashed out. In spite of the fact that JPMarkets is regulated and has been honored with numerous accolades, the large amount of unfavorable reviews that we saw online led us to wonder whether or not they can be trusted. If you are interested in being a client of JPMarkets, we strongly recommend that you test out their demo account and possibly go through some of the online customer reviews to get a better sense of what you might anticipate while working with this broker.
JP Markets is a global online brokerage that began conducting business in
2016. Despite the fact that the firm has only been in operation for a few of
years, it has already established a relationship of trust with its customers. It
started out as a little enterprise consisting of a single office and a handful
of employees, but today the firm has expanded to include locations in a number
of nations all over the world.
Justin Paulsen, an entrepreneur from South Africa, is the one responsible for establishing JPMarkets. He attended the University of Cape Town and obtained a degree in Economics and Finance as his major. While working for a renowned forex broker in South Africa, Paulsen had the chance to engage in conversation with a variety of financial industry professionals, including asset managers, hedge fund managers, forex traders, and portfolio managers.
After that, he made the decision to begin his own company and established JP Forex Investments. After that, he achieved the qualifications necessary to build his own licensed firm by passing the RE1 and RE5 examinations, and he did so by establishing JP Markets.
The following are six compelling justifications for traders and investors in South Africa to open an account with JP Markets:
Negative Balance Protection: If you have an account with JP Markets, you will never have a negative balance since the company employs a risk management system as well as an automated transaction management system to protect its customers from having negative balances in their accounts.
Trading Platforms That Are Both Adequate And Quick JP Markets Provides Both Adequate And Quick Trading Platforms. Customers are provided with precisely what they desire since there are no delays or requotes.
Safe and Sound - The foreign exchange broker keeps the money of its customers in a separate account from its own money.
Deposits and Withdrawals Are Free of Charge The broker does not charge its customers for the processing of deposits and withdrawals.
Payment Methods That Are Quick Instantaneous crediting of deposits to trading accounts Fast Payment Methods In addition, consumers are able to immediately take cash out of their accounts after making a profit. They are not need to wait for very long for the transactions to be processed successfully.
Excellent Customer Service - The representatives available to assist customers are kind, knowledgeable, and quick to respond. Live chat, email, and phone support are all available for communicating with the foreign exchange broker.
Is JP Markets Reliable Forex Broker? Because JP Markets is the largest forex broker in Africa and South Africa, investors in South Africa may unquestionably put their faith in the company. The previous few months have been marked by an extraordinary period of growth for the firm, which has resulted in its expansion into Bangladesh, Pakistan, and Kenya.
The Financial Services Board of South Africa has awarded the broker with a license, which allows them to carry out their business. On the JP Markets website, you will find a copy of the license that you may read and download.
You may reach JP Markets by calling +27-010-590-1250, sending an email to firstname.lastname@example.org, or visiting their Facebook page at www.facebook.com/jpmarketssa. Alternatively, you can visit their website at www.jpmarkets.co.za. The JP Markets company has locations all throughout South Africa, including Johannesburg, Pretoria, Cape Town, Swaziland, and Polokwane.
How to set up a new user account:
At JP Markets, opening a live trading account is as easy as doing the following three steps:
Please ensure that the online registration form is completed.
Verify their account by clicking on a link provided in the first email sent by the FX brokers.
Start trading after their trading accounts have been funded.
Individuals or corporations can create trading accounts to participate in the market.
When making a deposit, South African merchants have the option of selecting a bank from the provided list of banks. They can make reference to themselves using the number of their MT4 account. It is possible that the cash will not be credited to the accounts of dealers for up to twenty-four hours. They are required to send payment evidence in the form of an email to email@example.com if they want the monies to be credited more quickly.
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Online Entrances and Exits
At JP Markets, customers can withdraw their money using one of these three methods:
Client Portal: Through their client portal, you may make a payment request in a way that is both speedy and simple.
You may make withdrawals through the online platform by using either PayFast or Skrill, or by transferring money to a local bank account. Payout requests are attended to by JP Markets from Monday through Friday, within the hours of 9:00 a.m. and 5:00 p.m. local time. To ensure your safety, the broker will check in with you through phone in order to verify some information.
You may submit your payment request over Whatsapp by sending it to the number 079-604-4252. Be sure to include your MT4 account number as well as the amount that you would want to withdraw. After the conclusion of the verification process, the firm checks the specifics of the request and makes any necessary credit payments within twenty-four hours of receiving the request.
On the other hand, you may only make a withdrawal over WhatsApp between the hours of 10:00 a.m. and 4:00 p.m., Monday through Friday.
At JP Markets, traders have the option of using any one of the following platforms:
Customers may download MT4 for Windows, Android, and iOS and take advantage of features such as variable leverage in the range of 1:1 to 500:1 and no rejections or requotes. This platform is adaptable to traders with a wide range of experience levels.
The MT4 platform is popular due to its user-friendly interface, comprehensive charting features, technical analysis tools, automated trading capabilities, and automated trading capabilities. The MT4 trading platform offered by JP Markets supports a variety of currencies, including PLN, SGD, GBP, EUR, and USD. Additionally, it may be obtained in thirty other languages.
Wine is a free software tool that enables computers that are built on Unix to run apps that were created for Microsoft Windows. Traders may use Wine to run these applications. Regrettably, Wine does not yet possess complete stability. Therefore, it is possible that the program will not function as expected.
PlayOnMac is a free program that is based on the Wine software and is recommended for use by JP Markets. PlayOnMac makes it simple to install Windows software on computers that utilize the Mac operating system.
Wine is an application that allows Linux computer users to install MT4 on their PCs. However, they must be aware that there is a possibility that the program will not function correctly.
JP Markets is committed to providing its diverse clientele with access to a range of account options that are tailored to their specific needs.
Accounts denominated in U.S. dollars, British pounds, and South African Rand
Accounts that require commission payments to be made
Accounts that use spreads as their primary expense mechanism
Customers get immediate access to the market regardless of the type of account they have. Because the orders are sent straight to the market, there is no slippage, price manipulation, or latency in the process, thus traders are guaranteed to receive the best pricing available.
There are micro accounts in addition to mini accounts, but the foreign exchange broker makes no distinction between the two types of accounts.
The following are some of the distinguishing characteristics that set JPMarkets apart from other Forex and CFD brokers operating in the business and make it one of a kind:
Traders who have an account at JP Markets can submit an application to become a VIP MasterCard customer and receive the JP Markets MasterCard. They are able to use their card to make payments as well as withdraw money from automated teller machines. Additionally, they may utilize it to quickly control the revenues that they make.
Customers must open a trading account with JP Markets and have a minimum balance of R5000 in that account in order to be eligible for a JP Markets MasterCard. This card is only valid for usage in South Africa; its owners are not permitted to use it in any other nation. Because JP Markets wanted to be able to pay profits to its customers, this card was created; however, traders are not allowed to put any money onto it. They are, however, permitted to submit applications for a maximum of three JP Markets MasterCards.
Customers are required to sign into their accounts at www.whatsonmycard.com in order to view their available balance. They should be aware that they cannot use their card in any way that would allow them to store any money or earn interest on that money. Either when they are making purchases or when they are withdrawing money from an ATM, they are required to utilize their card. They are unable to use their card at any bank in order to withdraw the money that is now on it.
Customers of JP Markets have the opportunity to generate earnings by replicating the transactions executed by expert traders. They will only be investing money, and a Copy Master will be responsible for managing the money on their behalf. At JP Markets, being a Copy Master is open to any experienced trader who meets the requirements. They can do this by carrying out the following steps:
You may fill out the online application by going to JPMarkets.co.za/copy-trader and following the instructions there.
They will be contacted by a manager of their account, who will then provide them with some paperwork.
You may register for an account by going to copytrader.jpmarkets.co.za.
You will be able to access your account at copytrader.jpmarkets.co.za as soon as the firm gives its approval of your position as a fund manager or professional trader.
Simply creating a live trading account and making a deposit qualifies you to get a welcome bonus of up to one hundred percent of the amount you deposited. To be eligible, you need to make a deposit of at least R3,000.
JP Markets provides a bonus of 25 percent on deposits between the amounts of R3000 and R30,000, a bonus of 40 percent on deposits between the amounts of R30,001 and R60,000, a bonus of 60 percent on deposits between the amounts of R60,001 and R100,000, an 80 percent bonus on deposits between the amounts of R100,001 and R125,000, and a bonus of 100 percent on a deposit of R125,000.
How much money should I put into my trading account to get started? JP Markets doesn't establish any deposit limitations for its clients. Therefore, you are free to deposit any amount you choose. However, the minimum deposit that JP Markets suggests is R3,000. This is especially the case if you are a rookie trader who is in need of instruction.
At JP Markets, do customers have to pay to participate in the trading education offered? For clients who have live trading accounts, JP Markets provides exceptional foreign exchange trading that is completely free of charge. Classes are provided by the foreign exchange broker at several locations around South Africa. In addition to this, it provides traders who want to study at their own speed with video courses as well as online courses. Those who are interested can request further information by sending an email to firstname.lastname@example.org.
Is it possible for me to fund my trading account using Bitcoin? Skrill is the only payment processor that supports Bitcoin at this time. You are able to fund your Skrill wallet with Bitcoin, after which you may transfer the money to your trading account.
How much money is it possible for me to make trading at JP Markets? Everything relies on how skilled a trader you are. You should educate yourself on how to use a variety of trading tools effectively so that you can make educated selections. You should also educate yourself on effective methods for risk management.
Are my savings secure at JP Markets? At JP Markets, the security of your funds is guaranteed to be one hundred percent. This is due to the fact that the online broker keeps its customers' money in separate accounts and does not combine it with the company's own cash under any circumstances. Additionally, it protects the cash of its customers by maintaining professional indemnity insurance.
Should You Sign Up for JP Markets? (Should You Join JP Markets?) If you are a resident of Africa, you most definitely ought to. Not only is JP Markets registered and regulated in South Africa, but it also supports the South African rand (ZAR) and provides products that are tailored to the needs of African traders. In addition to this, it was established by a well-known African businessman and has many offices located around the continent.
Not only is JP Markets a reliable, risk-free, and carefully supervised online trading platform, but it is also an outstanding educational resource. JPMarkets makes it simple to learn how to trade, even if you have no previous experience in the financial markets.
JP Markets is a brokerage company based in South Africa that was established
in 2016 and is governed by the Financial Sector Conduct Authority (FSCA) via
license number 46855. It has become one of the leading brokers in the country
because to its aggressive marketing and "Partner" program, which focuses mostly
on social media.
Only the MT4 platform is supported by JP Markets' customer service team. Spreads are not made public, and JP Markets is unable to accept responsibility for them, claiming that it "has no control over the platform, spreads, or clients' accounts." The only thing that JP Markets is willing to state is, "Under typical market conditions, you can get EUR/USD for roughly 2 pips on average." Even if this is the case, this is a rather large spread for the currency pair that sees the most trading activity throughout the world.
Although both of these assertions are misleading, the greater cause for concern is the volume of complaints that we have received regarding this broker. These vary from deposits not reflecting to withdrawals never showing, with outright manipulation of the spread and client trades being the most concerning of all. Customer assistance has been criticized for being inadequate and frequently unresponsive, particularly in situations involving problems with funding.
Even though we are in the process of looking into these concerns, we strongly suggest that traders stay away from JP Markets until we can confirm that these complaints are true. After we have finished our research, we are going to prepare a comprehensive report. In the meanwhile, we are able to unequivocally advise that you should under no circumstances join up with a broker using a social networking platform.
In South Africa, JP Markets operates as a foreign exchange broker firm.
A firm that gives traders access to platforms that enable them to purchase and sell different currencies is known as a foreign exchange (Forex) broker.
Retail forex brokers and currency trading brokers are both names that refer to the same type of business. In turn, retail currency traders employ these brokers in order to acquire access to the 24-hour currency market for the sake of speculating.
Institutional clients and huge corporations such as investment banks can also take use of the forex broker services that are available.
JP Markets is a foreign exchange (Forex) broker firm that has been operating in South Africa since 2016 and has its headquarters in Johannesburg.
JP Markets was founded by a local entrepreneur who had a comprehensive knowledge of worldwide financial markets. The current mission of the firm is to provide trading capabilities to local and global traders and to participate in partnerships that will remain for a long time.
The headquarters of JP Markets are located in South Africa, and the company has operations in a number of other countries. JP Markets offers trading options on a Straight Through Processing (STP) basis for foreign exchange (Forex), metals, and other assets.
In addition to the cities of Johannesburg, Polokwane, Bloemfontein, Cape Town, and Pretoria in South Africa, JP Markets also has locations in the countries of Swaziland, Kenya, Pakistan, and Bangladesh.
The goal of JP Markets was to help at least 500 people become millionaires trading foreign exchange over the next ten years and to open at least 30 forex brokerages in Africa that are owned by Africans by the year 2022.
Awards bestowed upon a forex broker firm by prestigious organizations or magazines have a great deal of weight in the industry of foreign exchange broker companies.
Throughout its many years of dedicated service to traders, JP Markets has been honored with the following accolades:
The title of "Best Broker in South Africa for 2019" was given out by Global Business Outlook.
Awarded by International Finance Corporation as South Africa's Fastest Growing Broker for 2019
The European Financial Markets Association has honored us as the Most Transparent Broker for 2019.
South African Forex Industry Leader of the Year 2022
A foreign exchange account, often known as a forex account, is a trading account that is held by a trader with a business such as JP Markets and is primarily issued for the goal of trading currencies.
Typically, the number of accounts and types of accounts that a trader is permitted to open with a broker firm will vary depending on the country in which the brokerage is based, the trader's country of residence, and the regulatory authorities under whose jurisdiction the firm is authorized to conduct business.
Both the STP regular account and the ECN account that JP Markets provides to its clients have the same benefit, namely that their orders are carried out immediately in the relevant market. In addition, clients have access to PAMM services.
Because of the STP service, the foreign exchange broker is able to submit the client's order directly to bigger brokers or banks without first taking it to a dealing desk. This enables the transaction to be processed more quickly.
NDD, which stands for "No Dealing Desk," provides brokers with access to the inter-bank forex markets and eliminates any conflicts of interest, as well as completing orders and re-quotes. This element of STP is very important.
Charges for raw spread and commission are associated with the Electronic Communications Network (ECN) account. Traders will enjoy cheaper spreads, but there will be fees associated with any trades that are performed.
One of the few brokers that offers interest on trading accounts, JP Markets is one of the few brokers that does so; nevertheless, there may be a qualifying minimum balance requirement.
JP Markets' spreads are comparable to those offered by other market participants. You may purchase EUR/USD for roughly 2 pip's worth of difference on average.
Although JP Markets does not mandate a minimum deposit, the company does suggest that traders start with at least R3,000, especially if they plan to take advantage of the company's educational resources.
The number of deposit methods that are available with JP Markets is somewhat limited. Absa, FNB, Standard Bank, and Nedbank are some of the banks you may choose from; however, the South African Reserve Bank (SARB) will convert any overseas transfers to their own base rate.
Bitcoin, credit and debit cards, Neteller, and Skrill are some of the other payment methods you may use. On business days, the most time that may be spent allocating payments is twenty-four hours (from Monday to Friday).
An unusual feature offered by JP Markets is the capability for traders to submit withdrawal requests over WhatsApp. Withdrawals are processed quickly and painlessly, and the whole thing takes roughly twenty-four hours. It is possible to do so on official working days between the hours of 9:00 and 17:00.
Each and every transaction that takes place on JP Markets is subject to meticulous processing to guarantee its safety. To be able to file a withdrawal request, you are required to provide proof of paperwork, such as scanned copies of your identification, bank statements, and proof of residence. This is to validate your data in accordance with FSB requirements.
Because the service does not permit electronic wallets or other comparable media, withdrawals must be processed through local bank transactions.
The amount of time it takes to receive payments is contingent upon the financial institution that was utilised. You can collect your money within the same day from Standard Bank, ABSA, Nedbank, and FNB, however other institutions may take up to two days to process your request.
There is an additional charge of R50 for all withdrawals made using a credit card. There are no costs associated with making withdrawals through bank transfers; nevertheless, you are responsible for any fees levied by the receiving bank.
The amount of money spent on trading is determined by a number of variables including fees, spreads, and margins.
The difference between the bid rate and the asking rate for a currency pair is known as the spread for that pair. A point of interest (pip) is the smallest possible change that can occur in a currency exchange rate. For currency pairs in which the Japanese yen serves as the term currency, one pip is equal to 0.01, but for all other pairs, one pip is equal to 0.0001.
Margin refers to the amount of money that must be present in an account before a position may be opened. The current price of the base currency in relation to USD, the size (volume) of the position, and the leverage that has been applied to your trading account are all factors that go into the calculation of margin.
Commissions are the fees that a trader must pay to an investment broker in exchange for the broker's assistance in conducting transactions on the trader's behalf. The amount of commissions charged will fluctuate from one broker to the next, as well as depending on the asset that is being traded and the kind of service that is being provided by the broker.
Traders often pay lesser commissions when they work with execution-only brokers, which are defined as brokers that do not offer any kind of personalized financial advice and who grant traders full authority over the manner in which they trade the markets.
Trading contract for differences (CFDs) is a sort of derivative trading that enables traders to speculate on the increasing or falling prices of fast-moving global financial markets. However, trading contract for differences (CFDs) on shares will result in the payment of fee.
Trades in contracts for difference (CFDs) made on other markets don't incur commission fees, but they do add a spread on top of the price of the underlying asset.
The spreads offered by JP Markets are flexible and competitive. They are determined by the conditions of the market. The spread for EUR/USD on the STP account is, on average, roughly 2 pips. Although it is open to everybody, professionals are encouraged to get an ECN account since it comes with a commission of only ten dollars in United States currency (USD) each lot.
Leverage refers to the facility that enables a trader to create a position with a considerably bigger exposure to the market in comparison to the amount of money that they first placed in order to do so. Leveraged products like this amplify a trader's potential profit, but they also raise the trader's potential loss, which is to be expected.
The level of leverage is typically stated as a ratio, such as 50:1, 100:1, or 500:1. Assuming that a trader has a trading account balance of US Dollar 1,000 and is trading ticket sizes of 500,000 USD/JPY, the trader's leverage will be equivalent to 500:1.
Despite the fact that JP Markets is a retail broker, local legislation in South Africa nevertheless permit larger leverage levels. It's possible that this is one of the reasons why South African brokers, and JP Markets in particular, are becoming more well-known.
JP Markets provides a maximum leverage of 1:500, primarily geared at the needs of professionals. Retail traders are able to access ratios such as 1:100 or 1:200, and these ratios might change depending on the instrument characteristics.
It is common practice for forex brokers to entice new traders with promises of enticing deposit incentives. This could be helpful, but it is very necessary to determine what a legitimate bonus is.
A bonus of this kind is just a method of compensating traders for selecting a certain broker, given that once the account is established, the trader will be subject to the same fees as any other participant in the market.
Once the trader has demonstrated that he is an active trader, he will be eligible to get the bonus, which is just a reward for the trader's decision that will reimburse part of the trader's costs.
Customers should be aware that no deposit bonuses are an excellent way to get started trading, but they frequently come with ridiculous terms that require them to trade a certain volume of currency before they can make any kind of withdrawal, even if they make a profit from trading with the bonus money.
JP Markets has a number of contests throughout the year for traders and introducing brokers, including the following:
A 20 percent redeposit incentive
A bonus on first deposits equal to 30% of the amount deposited,
Bonuses for the happy hour
Bonuses based on rebates.
Platforms for Financial Trading, Software, and the Features It Offers:
The platform is the name given to the forex trading software that is made available to the customers of a broker firm and is utilized by those customers in the execution of their transactions.
When referring to a platform, the term "multi-asset" refers to the fact that it enables customers to trade not only foreign exchange but also other asset classes, such as contracts for difference (CFDs) on stocks, stock indices, precious metals, and cryptocurrencies. A platform may also be multi-lingual.
What a customer wants to trade will play a significant role in determining which trading platform they should go with; thus, this factor will also be one of the factors they use to select a broker.
In addition to MT4, this broker provides clients with its own own JP Markets platform, which is available as an app for both Android and Apple devices.
Deposits are reflected instantly, and clients have the ability to open new Meta Trader accounts with a variety of deposit currencies so that funds may be transferred between existing accounts.
The MT4 platform offered by JP Markets facilitates transactions including futures, indices, equities, and other CFDs. Additionally, this platform offers comprehensive charting features, tools for technical analysis, and automated trading.
Customers are able to download MT4 for Windows, Android, and iOS and take advantage of advantages such as the absence of rejections and requotes, as well as customizable leverage ranging from 1:1 to 500:1.
JP Market further provides its customers with the JPM Mobile App, and it enables customers to participate in Social Trading through the use of Copy Trader or Copy Master Accounts.
PlayOnMac is a free program based on Wine that can be used to install Windows apps on devices that utilize the Mac operating system. Users of Linux operating systems may also use Wine to install MT4 on their systems. JP Markets recommends PlayOnMac for this purpose.
JP Markets is a major player in the foreign exchange market. JP Market is
gaining more and more attention from consumers all over the world. The broker
went into business in 2016 and operates out of South Africa as its headquarters.
In addition to having a presence in the South African cities of Johannesburg,
Polokwane, Bloemfontein, Cape Town, and Pretoria, JP Markets also has a presence
in the foreign locations of Swaziland, Kenya, Pakistan, and Bangladesh.
When I visit their website, jpmarkets.co.za, I see that South Africans make about thirty percent of the site's visitors. The primary objective of the organization is to be of assistance to traders on a regional scale. To this end, it gives its customers individualized customer care and the resources they need to be successful in a competitive and thrilling sector that has the potential to make them extremely wealthy.
The goal of the broker is to play a significant part in the establishment of at least 30 forex brokerages across Africa that are owned by Africans by the year 2020 and to aid in the establishment of 500 forex billionaires within the following 10 years.
Is JP Markets fraud or safe broker? Is JP Markets subject to regulations? Which one, ECN or STP, describes JP Markets? What is the minimum deposit required to use JP Markets? Is trading halted at JP Markets? What are the steps to opening a live account with jp markets?
Throughout this JP Markets review, I will go over all the information you need to know about the broker. You have arrived at the proper location to obtain information regarding the JP Markets minimum deposit, the JP Markets account types, regulation, spreads, leverage, JP Markets minimum withdrawal, platforms, and bonuses. If you have any of these questions, you can find the answers here.
What exactly are the JP Markets? JP Markets is a global online brokerage that began conducting business in 2016. Despite the fact that the firm has been operating for a number of years, it has maintained relationships with a diverse range of clients. When it first opened its doors, the firm occupied a modest office space and employed a handful of people. These days, however, it has expanded to include many locations throughout the globe.
It was established by a businessman from the community who has an in-depth familiarity with worldwide financial markets. The broker seeks to cultivate long-term relationships with clients and provides local and international investors with possibilities to engage in trading.
The broker has its headquarters in South Africa, but it also has operations in a number of other countries. These operations provide new options for trading foreign exchange (Forex), metal, and other assets on a straight-through-processing (STP) basis. The broker has established the objective of establishing at least 30 forex brokers in Africa by the year 2023 and of assisting in the establishment of 500 African forex billionaires during the following 10 years.
Justin Paulsen, the creator of JP Markets, is an economist from South Africa who is particularly passionate about dealing with international finance. He graduated from the University of Cape Town with degrees in Economics and Finance. After that, he started working in the realm of private banking. He rose to the top of the South African foreign exchange brokerage industry. He collaborated with Traders, Hedge Fund Managers, Asset Managers, Portfolio Managers, and Forex Traders during his time in the industry. Because of this, JP Markets came into being.
He had the confidence that he could succeed, so he went ahead and founded his own company. He called it JP Forex Investments at first, and he was successful in both the RE5 and RE1 tests. And the culmination of all these factors was the establishment of JP Markets.
The broker provides its customers with two different account options. Both the STP Standard account and the ECN account offered by JP Markets fall under this category. However, prior to moving forward with the JP Markets actual account, you have the option of beginning with the JP Markets demo account in order to gain a better idea of whether or not the real account will be worth it.
The regular account provides leverage of up to 1:500, variable spreads, no commission costs, and STP (Straight Through Processing) market execution. There are no fees for commissions. One may say that the leverage offered by the broker is excessive. However, keep in mind that using more leverage exposes you to a greater danger of incurring losses. In addition, there are PAMM services. The broker does not impose a stringent minimum deposit requirement on its customers. However, the minimum deposit that is advised for the broker is around R3,000, and this is especially the case if you want training.
In addition to it, there is an ECN (Electronic Communications Network) account with JP Markets. Traders in this sort of account enjoy lower spreads, but they are responsible for paying commissions as their transactions are performed. For example, spreads will indicate a fee of one pip on the platform, followed by a "commission" of ten dollars per standard lot when the trade is executed.
An account on the electronic communication network is referred to as an ECN account. It denotes the process by which your orders are carried out immediately in the market.
What sets an ECN JP Markets Account apart from a Straight Through Processing (STP) Account? There is a commission per transaction on the ECN account, however on the regular account, you will be charged on the spread. This is the primary distinction between the ECN account and the STP account offered by JP Markets. Both accounts come out to roughly the same cost, so which one you choose to use depends entirely on your preferences as a trader.
JP Markets, on the other hand, has spreads that are about the market average. You may purchase EUR/USD for roughly 2 pip's worth of difference on average. In comparison to those of the other brokers, I believe the spreads offered by JP Markets are slightly more expensive.
As a trading platform, you get access to JP Markets' MT4, often known as MetaTrader 4. The majority of brokers and experienced traders continue to use the MT4 trading platform. The online trading platform offered by the broker is equipped with a sophisticated charting package, trading and analysis tools, alerts, signals, and customisable indicators. MT4 gives you a transparent view of the market in which you are participating.
You may access your MT4 account and get started trading by logging in through the broker's website. It is labeled "JP Markets client login" and is located in the upper right corner of the webpage. If you are a partner in the business, you will submit your information as a partner next to where the customers log in.
On this website, which operates on the MT4 (MetaTrader 4) trading platform, you have the opportunity to trade up to 30 different currency pairs, as well as other CFDs, gold, stock indices, and oil. It is impossible to do anything else.
With accounts from Copy Trader or Copy Master, you have the option to enter and trade in the markets either manually or automatically. This indicates that you may profit from the primary accounts as well as the transaction even without any information or deductions being made if all you need is a basic order copy. Or, to become a Master Trader in order to increase your exposure to the markets and your ability to manage greater sums of money.
Where can I find out the Costs? The spreads offered by the broker are unpredictable and inferior to those offered by many other forex companies on the market. It is around 2 pip for the typical EUR/USD straight-through-processing account. As I was explaining before, the ECN account has a commission rate of ten dollars each lot, making it a superior choice for professionals but making it accessible to everybody as a point of comparison.
This calculated spread for EUR/USD is fairly big in terms of its magnitude. There is a large number of forex brokers that provide rates that are cheaper. The fees charged by the broker appear to be disadvantageous in this regard. Therefore, creating an account and trading will not result in any financial gain for you.
What is the bare minimum required for a deposit? The minimum deposit required to trade on JP Markets is R3,000, which is around $200. When compared to the rates offered by other forex brokers, it has a significant spread. On the forex market, the minimum amount required to open an account is often $100, although the broker typically demands $200.
The withdrawal and deposit methods offered by the broker are restricted. The broker does not provide clients with a diverse selection of depositing choices. JP Markets provides its users with the unique ability to transmit withdrawal requests using WhatsApp, which is not available on competing platforms.
The withdrawal process typically takes around twenty-four hours. On official business days, withdrawals can be requested between the hours of 09:00 and 17:00. On weekends and holidays, it is not possible to withdraw any money from your account. It is necessary, for instance, to provide scanned copies of your identification documents, bank statements, and a proof of address prior to submitting a withdrawal request.
The broker makes available to its customers a selection of incentives and special deals. One of them is called the "percent 200 Deposit Bonus," also known as the welcome bonus for JP Markets. You can view the terms and conditions that apply to your use of their website. The second advantage is the potential to accumulate interest. You are earning interest comparable to that of a savings account thanks to the interest rate of around 7.2 percent per annum that is distributed weekly. On their website, you'll be able to view the specifics. JPM Card is the one that comes in last. If you use the card, you'll be upgraded to the VIP MasterCard Client status. We regret to inform you that the broker no deposit incentive is currently unavailable. You have successfully earned your incentives, and you will get $5.00 per lot. As an instance, if you are offered a bonus of $50, you must first complete 10 lots of trades before you are eligible to withdraw the whole amount of the bonus.
The following methods can be used to make deposits at JP Markets: credit cards and debit cards, bank wire transfers, PayFast, Skrill, i-PAY, and PayFast.
You may now make quick and simple withdrawals from the broker via the client site. This feature was previously unavailable. The request for a withdrawal can now be made in the quickest possible manner.
South Africa is one of the countries in Africa that has progressed the most, and its financial industry has significant untapped potential. In order for the broker to secure a position in this industry, another one of his goals is to establish a reputation in this market as a trustworthy broker. The regulatory body does not rank among the most trustworthy in the world, but it does maintain a certain degree of dependability nonetheless.
Customers are safeguarded by regulatory duties that preserve trade security in addition to other security standards relating to money management and market integration. These responsibilities are subject to a qualifying standard that governs how the broker does business.
In layman's terms, the trading conditions are served by legal duties, which are subject to a qualified standard on how the broker operates. In addition, a number of other security criteria expressly for money management and market integration must be maintained. Therefore, there is protection against negative balances, and even while the segregation of merchants offers the highest level of security, it is complemented with the protection of the interests of each and every consumer.
There is a concern among the customers regarding the broker, and that concern is whether or not JP Markets' license has been suspended. The correct response is both yes and no. The FSB had originally decided to suspend the license, but it has already been reinstated. If you wish to create an account with this broker, it indicates that you need to exercise caution in the process.
How are customer complaints about JP Markets handled? In the extremely unlikely event that you have any reason to feel dissatisfied with any aspect of their services, you should contact their Jp Markets Customer Services Department in the first instance by calling +27(0) 87 828 0576 or sending an email to email@example.com, as the vast majority of complaints can be dealt with at this level. In the unlikely event that you have any reason to feel dissatisfied with any aspect of their services, you should contact their Jp Markets Customer
In the event that the issue cannot be resolved by Customer Service, you have the option of filing a formal complaint with the Compliance Department of JP Markets. Please detail the issue as specifically as possible, preferably in writing. The Compliance Department will conduct an unbiased review of the complaint in order to gain a better understanding of what did or did not occur and to determine whether or not they have acted fairly within their rights and have met their contractual and other obligations. This review will be done with the goal of understanding what did or did not happen. Within the next six weeks after the receipt of the complaint, a comprehensive written answer will be issued.
Even though the broker offers live chat, I was unable to access it when I tried to do so. Black River Office Park, 2 fir Street Observatory, Cape Town Gatehouse Building, 2nd Floor is the location of the contact information.
What is the number for JP Markets' WhatsApp account? You may get in touch with them over Whatsapp at the number +27 71 559 9457 right now.
What is the telephone number for the JP Markets office? The telephone number to reach them is +27 010 590 1250.
Which email address should I use to contact JP Markets? It is firstname.lastname@example.org if you are interested.
What exactly is the Facebook page for JP Markets? It may be accessed at the link www.facebook.com/jpmarketssa.
Investors need to be certain that the broker they select will offer support and assistance whenever it is required. This will enable the investors to more easily locate the correct answers to their customers' inquiries and give their customers with the greatest possible user experience. There is also the possibility of communicating by e-mail, online chat, and Whatsapp.
If you are concerned about their dependability, you should make an effort to get in touch with them by one of the methods I outlined above. Because some businesses provide superior service to new customers or prospects, you could find it helpful to first pose as an existing customer of the company in question. When it comes down to it, you have the ability to take everything into consideration before selecting whether or not to invest with them.
The broker resides in South Africa and specializes in foreign exchange. The broker offers a restricted number of account types and does not permit scalping, hedging, or the use of automated trading systems (EAs). You also do not have the option of selecting the trading platform that you use. Because the broker only supports the MT4 platform, it is simple and straightforward for many different types of traders to utilize.
According to the statements made by the CEO of the broker's company, the regulatory agency had previously suspended the broker's license because of a misunderstanding. JP Markets license has been reinstated.
JP Markets is a reputable foreign exchange broker that operates under the
oversight of South Africa's Financial Services Board (FSB) or Financial Sector
Conduct Authority (FSCA), depending on the authority's current name.
This foreign exchange trading firm keeps the monies of its customers in separate accounts from the company's own money. Negative balance protection is another service offered by JP Markets, and it serves the purpose of ensuring the safety of customer funds in the event that the client's account has a deficit.
In this evaluation of JP Markets, we will walk you through the many precautions that this forex broker takes to ensure the safety of its customers.
Because it is licensed by the Financial Services Board (FSB) of South Africa, JP Markets is recognized as a trustworthy foreign exchange (Forex) broker. In order to better serve its customers, JP Markets provides negative balance protection and maintains separate accounts for customer money.
The Financial Services Board (FSB) of South Africa has granted JP Markets a license with the number 46855, confirming that the company is a legal foreign exchange (Forex) broker.
JP Markets is a broker that deals in CFDs and forex; it separates the funds of its customers into separate accounts and offers protection against negative balances. JP Markets furthermore provides Professional Indemnity Insurance to its clients.
JP Markets received recognition as 2019's Most Transparent Broker from the European and 2019's South Africa's Best Broker from the Global Business Outlook Magazine. Both of these accolades were presented in 2019.
JP Markets has modest costs for non-trading and trading, and the trading fees are also reasonably cheap.
You won't have to worry about being charged with a fee to make a deposit or withdraw money, but the commission on an ECN trading account will be deducted from your profits.
This evaluation of JP Markets will educate you on the various trading and non-trading costs that you are required to take into consideration.
Although JP Markets' trading costs are on the lower end of the spectrum, you should be aware that you will be responsible for paying a commission of ten dollars each lot. In addition, the majority of the spreads are variable, and the range of possible values begins at 0.7 pips. The EUR/USD spread for the STP trading account is around 2 pips on average, which demonstrates how competitive the spreads currently are.
You won't be charged a cost to make a deposit or withdraw money if you use JP Markets, which is one of the non-trading fees the company offers. You will be subject to a cost for inactivity as well as a fee for account maintenance that is equal to fifty dollars every three months.
The maximum leverage level for normal customers is up to 1:500. You may discover this information on our website. When it comes to professional clients, the maximum leverage level might go up to 1:200. You can discover this information on our website.
JP Markets gives customers the option to choose between two distinct trading accounts, each tailored to meet their individual needs.
You have the option of trading with either a direct market access (STP) account or an electronic communication network (ECN) account. You will not be needed to make a minimum deposit in order to create an account with JP Markets, which is excellent news.
In this JP Markets review, we will walk you through the process of opening a live trading account with JP Markets step by step.
Both the ECN Account and the STP Account that are offered by JP Markets are trading accounts that are quite comparable to one another. The ECN Account, also known as an Electronic Communication Network Account, trades directly to the market, which is the primary distinction between the two. You will discover that the commission for the ECN Account is 10 USD, but the commission for the STP Account is included in the spreads that are offered to you.
If you follow these steps, you will be able to register a real account with JP Markets under your very own name:
The process of making deposits and withdrawals at JP Markets is not overly complicated.
You won't have to pay any fees to make a deposit or take money out of your account. In addition, there are three distinct payment methods that may be used to finance your trading account. You can use any one of these ways to fund your account.
In this JP Markets review, we will go through the various payment options that are available to customers.
JP Markets provides customers with only one option for their account base currency, and that option is the US Dollar.
You will notice that JP Markets does not demand a deposit fee, which means that you will not be charged any money whenever you make a deposit. This is one of the many benefits of using JP Markets. There are a variety of methods available to you for adding funds to your trading account, including bank transfers and the use of an electronic wallet. You will discover that the procedure of making a deposit is quick, and it can take up to 24 hours to be completed.
You won't have to pay a charge to withdraw your money when you use JP Markets. Period. You can withdraw money from your accounts using the same ways that you used to deposit money, but the account must correspond to the information that you provided for the account. On the other hand, you may discover that the withdrawal process is a drawn-out affair.
This evaluation of JP Markets will utilize MetaTrader4 as a model to conduct an analysis of the features that are provided to customers of JP Markets.
MetaTrader4 and a mobile application developed specifically for JP Markets are the two kinds of trading platforms that are offered by JP Markets. The MetaTrader4 trading platform is one of the most well-known trading platforms in existence, and it is utilized by traders all over the world.
The web-based trading platform known as MetaTrader4 that is made accessible by JP Markets may be utilized in a variety of languages, and you will discover that the site is simple to browse through. No matter which operating system you use, you have access to more than 30 different indicators that may be modified to meet the specific requirements of your trade. In addition, you will be able to choose from the following five pending order types: market, limit, stop, good till cancelled (GTC), and good till time (GTT). These order types are generally regarded to be the necessary order types for basic trading.
For the purpose of staying current on your performance, you have the option of seeing your whole portfolio as well as any previous transactions that you have executed. On the other hand, the MT4 web trading platform does not offer price alerts or notifications, and you will have to rely on the first login procedure since there is no two-step verification process. You will have to rely on the initial login process since there is no two-step verification process.
The online trading platform and the desktop trading platform for MetaTrader4 are quite comparable in a number of respects. When using the desktop platform, you have the ability to personalize more than 30 different indications in any method and language of your choosing. You are able to download the MT4 desktop trading platform on any operating system, and you may set up price alerts on your desktop in the form of push notifications. You can trade using any one of these five types of pending orders: Market, Limit, Stop, Good Till Cancelled (GTC), and Good Till Time. Market, Limit, Stop, and Good Till Cancelled (GTC) (GTT). In addition, you are able to check your previous transactions as well as your whole portfolio, which allows you to monitor all of your previous results. On the other hand, the JP Markets MT4 desktop trading platform has a design that is somewhat antiquated, and it does not offer a two-step login procedure as a form of authentication. You may find this to be an inconvenience.
The desktop trading platform, the online trading platform, and the mobile trading platform that JP Markets offers are all quite comparable to one another. On the other hand, people who want to trade when they are traveling will find this platform more useful. You have the option of utilizing the five fundamental forms of pending orders, which are Market, Stop, Limit, Good Till Canceled (GTC), and Good Till Time (GTT). You, as a user of a mobile device, have the option to download it on either an iOS or an Android smartphone because the mobile application is compatible with both of these operating systems. There are over 30 indicators that can be modified to your taste, and you will discover that the architecture of the trading platform is quite user friendly. In addition, you will have access to a wide range of asset classes. You are unable to utilize face recognition or fingerprint recognition as a method of identity while signing in on your smartphone; however, you are able to enable price alerts as a push notification on your device.
JP Markets provides access to five distinct financial markets, some of which include indices and currency pairings.
You will have access to more than fifty different financial instruments and the ability to trade across five distinct financial asset classes.
The following analysis of JP Markets will provide a rundown of the various financial markets to which you will have access to trade.
You may enhance your trading techniques by using any of the two trading tools that JP Markets makes available to its customers.
You have the option of using a social trading tool, which will provide you the chance to communicate with other people who trade. In addition, copy trading is a trading tool that allows users to replicate the successful strategies of other traders and use them as their own.
This evaluation of JP Markets will provide you with information regarding the various trading tools that are offered by JP Markets.
JP Markets makes available to its clients a variety of study resources that may be used to improve their understanding of trading. You will have access to the economic calendar, which contains information on upcoming and historical economic events. In addition, you may get additional in-depth technical data on the various financial markets by using market outlooks and fundamental research.
JP Markets offers a variety of helpful customer service channels, each of which gives a prompt response as well as answers that are pertinent to your inquiries.
You may get in touch with them through email, live chat, WhatsApp, or the telephone. On the other hand, they are not operational during the weekends and are not available around the clock.
This evaluation of JP Markets will provide you with a rundown of the several channels of contact that may be used in order to get in touch with the support staff.
JP Markets provides its customers with a wide range of instructional tools and materials, as well as a variety of educational resources.
You will get access to a variety of guides on how to perform things as well as online trading classes. In addition, you will get access to video training and a trading glossary that you can use to check up definitions of trade-related terms. The Demo Account is available for you to use, and there will be no risk to your finances as a result of doing so. If you prefer a more hands-on approach, this is the account for you.
In this JP Markets review, we will walk you through the process of opening a Demo Account step by step.
You will need to start by going to the Dashboard section of the JP Markets website and selecting the "Open Account" option from the drop-down menu there. After clicking on the option labeled "Open a New Trading Account," you will be given the opportunity to choose the kind of trading account and the base currency for your Demo Account. In the final step, provide your login details so that you may begin using JP Markets.
JP Markets is a broker that facilitates trading in CFDs and forex. The company was founded in 2016, and its headquarters are located in Cape Town.
JP Markets also has operations in the countries of Kenya, Pakistan, and Bangladesh in addition to Swaziland. The Financial Services Board of South Africa is now the regulatory body that oversees JP Markets.
The Financial Services Board (FSB) of South Africa has validated JP Markets as a reputable forex trading broker. JP Markets is subject to the FSB's oversight. This foreign exchange trading firm keeps the monies of its customers in separate accounts from the company's own money. Negative balance protection is another service offered by JP Markets, and it serves the purpose of ensuring the safety of customer funds in the event that the client's account has a deficit.
JP Markets is, all things considered, a reliable and regulated foreign exchange broker that is well worth signing up with.
How Reliable Is JP Markets As A Broker? JP Markets is a broker that facilitates trading in CFDs and forex. The company was founded in 2016, and its headquarters are located in Cape Town. JP Markets also has operations in the countries of Kenya, Pakistan, and Bangladesh in addition to Swaziland. The Financial Services Board of South Africa is now the regulatory body that oversees JP Markets. JP Markets was established in 2016, and its headquarters are currently located in Cape Town. The company was established with the purpose of establishing long-lasting trading relationships and trading capability, with the intention of encouraging traders from all over the world to reach their trading potential.
Is JP Markets Legit? The Financial Services Board (FSB) of South Africa has validated JP Markets as a reputable forex trading broker. JP Markets is subject to the FSB's oversight. This foreign exchange trading firm keeps the monies of its customers in separate accounts from the company's own money. Negative balance protection is another service offered by JP Markets, and it serves the purpose of ensuring the safety of client assets in the event that your account has a negative balance.
Withdrawals from JP Markets often take up to two full business days, however this time frame is not guaranteed.
JP Markets holds a license number of 46855, which enables it to act as a licensed Forex trading broker. This broker is regulated by the Financial Services Board (FSB) of South Africa.
Because it is licensed by the Financial Services Board (FSB) of South Africa, JP Markets is recognized as a trustworthy foreign exchange (Forex) broker. In order to better serve its customers, JP Markets provides negative balance protection and maintains separate accounts for customer money.
JP Markets is a foreign exchange (Forex) broker that is based in South Africa
and has been in business since 2016, having begun its operations with a solid
foundation built on a comprehensive grasp of worldwide financial markets. The
core of what JP Markets has to offer is the capacity to participate in
long-lasting partnerships and the ability to trade, both of which are intended
to stimulate local and international traders to engage in profitable trading.
This is accomplished in a variety of ways, one of which is through JP Markets' provision of educational resources for traders, operating under the assumption that intelligent traders are more likely to achieve financial success.
Although the primary JP Markets activities are centered in numerous countries across Africa, its main base is in South Africa, and the corporation that stands behind it is also located in South Africa. As a center of foreign exchange dealing in Africa, but the broker's offer consistently expands beyond and farther. As we continue with this analysis of JP Markets, we will look more closely at the services it provides and determine whether or not it is a reliable broker.
The process of creating a JP Markets account is straightforward and uncomplicated, and the marketplace offers high-quality trading conditions, copy trading, and educational resources.
Nevertheless, there are some drawbacks as well; for example, we discovered some unfavorable answers and encounters with the broker, which can provide an inaccurate impression of the broker's level of professionalism at some point. Therefore, before opening an account with JP Markets, we strongly recommend that investors perform exhaustive research on the company.
In addition to its dynamic trading reputation as one of the leading brokers in South Africa also via the numerous traders they collect, there are a great number of industry awards that acknowledge both trading technology as well as the service and conditions that the broker provides.
JP Markets is not a fraudulent company; it is a legitimate business operating in South Africa and has been granted full approval as a broker by the country's Financial Services Board (FSB). As a result, the trading product that JP Markets provides has been effectively authorized as an international financial service. In addition to being compliant with safety procedures, it also offers customers transparent terms and minimizes the dangers that they face.
Eventually, South Africa demonstrates a major increase in the expansion of the foreign exchange (Forex) market as an increasing number of businesses create their operations or establish organizations inside its jurisdiction. JP Markets, on the other hand, is founded on a solid foundation that was established at the time of its formation, and it continues to run trading activities with the goal of providing the most advantageous trading opportunity conceivable.
To put it another way, Licensed and Regulated by FSB regulatory obligations are subject to a qualifying standard on how the broker operates. This standard ensures that the broker serves trading conditions as well as maintains a number of other safety rules specifically towards money management and market integration. Therefore, there is protection against negative balances, segregation of money for traders, the greatest degree of security, and all of this is supported by the protection of the clients' interests in every aspect.
Despite this, there have been rumors floating around about JP Markets having their license suspended. In point of fact, this is the situation since the broker had their license from the FSB, but in 2019 the regulator suspended their license without giving them any prior warning because of an alleged infraction against their customers. Having said that, it was a mistake because the broker in question does not control the domain address that was accused of violating the terms of service; hence, the JP Market record is still in good standing.
Due to the fact that JP Markets is based in South Africa, the local rules continue to make large leverage ratios possible even to ordinary traders. In the long run, this is one of the reasons that South African brokers, and JP Markets respectively, gained greater popularity and continued to expand.
Be careful to check the trading conditions as well, because the available leverage and risk levels might change not only based on the instrument specifications but also on each asset in particular that you trade.
At JP Markets Review, we come across two different account kinds that are based on either STP execution with expenses integrated into spread solely or ECN execution with raw spread and commission charges. Both of these account types have their own advantages and disadvantages. You may also establish an account for copy trading, which can be done using either Copy Trader or Copy Master. However, trading with either of these may require extra authorization settings in order for it to work properly.
In addition to its other offerings, JP Markets is one of the few brokers that offers interest on trading accounts, however this perk may be contingent on maintaining a certain minimum balance to qualify.
The expenses of the trading service that JP Markets provides, which you will be required to pay for, offer various circumstances with pricing Options between normal fees based on spread and an ECN account with a commission. Additionally, some of the most enticing options, such as the availability to trade through deep liquidity and low costs for cryptocurrencies and commodities, are incorporated into the offering as well.
Spreads at JP Markets are changeable and depending on market circumstances. These spreads are also relatively competitive within the market offering; the average spread for a STP account for EUR/USD is roughly 2 pips. The ECN account will contain a fee of $10 per lot, as we have already said. Although this is a superior choice for experts, it is open to anybody who wants to use it because of the reference.
However, the website does not give any clear information about the conditions under which it has spread, and as a result, we were unable to view comprehensive data on its spread.
JP Markets is dedicated to providing international traders with access to competitive trading circumstances through the provision of cutting-edge trading perks and the opportunity to trade foreign exchange (Forex), metal indices, futures, and shares based on CFDs.
Even Capitec Bank recommends JP Markets as a major local brokerage business for traders of forex, bitcoin, and metals. JP Markets excels in all three of these areas.
JP Markets follows a Straight Through Processing, or STP, business model. This means that the company gives traders access to its trading platform and connects your orders to the market using quotations acquired from its liquidity sources.
The final part of our JP markets review will focus on the many funding options that are available to you so that you may deposit money into your trading account.
JP Markets is not like other brokers in that it is permitted and licensed to take local deposits from customers as well. This sets them apart from other brokers. Because you may choose from a wide variety of deposit methods, including the ones listed below, it won't be difficult for you to put money into your trading account.
Bitcoin is accepted through a variety of payment gateways and bank accounts, including those offered by Absa, FNB, Standard Bank, and Nedbank, as well as Skrill and other similar services.
Last but not least, JP Markets has issued and made accessible upon request its very own JPM Card, which functions similarly to a MasterCard and is connected to your trading account. This allows you to enjoy all of the advantages of a Debit Card without any hassle.
Since JP Markets does not impose a stringent minimum deposit requirement, you are free to invest whatever amount that is suited for you, which is wonderful in every respect. JP Markets, on the other hand, suggests beginning with around R3,000, which is equivalent to approximately $200, and provides fantastic training and teaching resources, both of which are highly recommended for beginner traders.
JP Markets does not mention any fees associated with deposits or withdrawals; however, some banks and payment providers for JP Markets Withdrawal may waive some fees due to international policies; therefore, it is best to check with the provider to learn about its fees. JP Markets does not mention any fees associated with deposits or withdrawals.
JP Markets was an industry pioneer in providing its clients with the MT4 trading platform, as well as outstanding trade execution that featured No Requotes, No Rejections, and flexible trading conditions. The MetaTrader4 platform is the current industry standard, and it is well-known for the creative and robust trading features it offers. These capabilities are suited for either individual investors or professionals who wish to purchase and sell currencies.
The MT4 platform offered by JP Markets provides Web Trading of Futures, Indices, and Equities in addition to other CFD transactions. Additionally, this platform offers comprehensive charting features, tools for technical analysis, and automated trading. Trading may be accessed from virtually any device, including mobile phones, thanks to the platform's availability in a number of different versions.
JP Market also provides its own unique program known as the JPM Mobile App. This app is a very user-friendly piece of software that gives you complete control over your trading at any time, regardless of where you are.
You are able to engage in Social Trading using Copy Trader or Copy Master accounts, both of which are available via the Desktop Platform, in addition to trading the markets in a manual or automatic fashion. This indicates that you are able to clone master accounts and earn from trading without any awareness or interruption as long as you just copy orders from one account to another. Or, to become a Master Trader and so acquire further exposure to the markets as well as the administration of larger capitals.
Concerning the Aspects of Customer Support JP Markets set up its customer support service with the intention of providing investors and traders with responses that are both relevant and of a high quality. Even though you may reach the team during business hours using Live Chat, there have been some customer comments that have either not been responded to at all or have been determined to be deceptive.
JP Markets was able to keep its track record and the quality of its trading service consistent by offering professional guidance in the form of specialized online trading classes and an extensive library of educational resources. In addition, we will supply you with research resources including as videos, online courses, fundamental analysis, and news feeds, and of course, you will be able to access all of the fantastic research that is available through MetaTrader.
Trading conditions at JP Markets are fairly competitive, and there is the option to trade manually or to replicate transactions from Copy Accounts. JP Markets trading is a pleasant experience overall, with plenty of educational resources available. In addition to this, and taking into account the fact that JP Markets is a well-known brokerage in South Africa and is a brand that is recognized by traders all over the world, we have decided to cast our ballots in favor of JP Markets. Another advantage of making a long-term investment is that the broker is always developing new trading chances, increasing their scope, and getting larger, all of which are positive developments.
JP Markets is a forex and CFD broker that operates online and is
headquartered in Johannesburg. Users may immediately begin trading on the
industry-leading MetaTrader 4 (MT4) platform after first creating either a demo
or a real account on the site. This evaluation will include information about
the welcome bonus offered by JP Markets, as well as the procedure for logging
in, how to get in touch with the chat support desk, and other relevant topics.
2016 marked the beginning of operations for JP Markets. Its owner and chief executive officer, Justin Paulsen, has set his sights on being Africa's most successful forex broker, and he has already made significant progress in that direction. In addition to its activities in Swaziland, Kenya, Pakistan, and Bangladesh, the firm currently now has offices in Johannesburg, Polokwane, Bloemfontein, Cape Town, and Pretoria, all of which are located in South Africa.
JP Markets is subject to government oversight in South Africa, where it is headquartered, and holds a license issued by the country's Financial Services Board (FSB). Scams may be avoided because to the regulatory control provided by the FSB, which has also been responsible for exposing a large number of unscrupulous forex brokers working in Africa.
Downloadable versions of the MetaTrader 4 (MT4) platform are available through JP Markets. MT4, which is available for download on both Windows and Mac platforms and is regarded as the industry standard for retail forex trading, The MT4 terminal is quick to respond, and both the configuration and the user interface are modifiable.
After you have successfully logged in, you will have access to a wide variety of trading tools and resources. There are nine different standard chart periods, thirty different built-in technical indicators, and hundreds of extra price indicators that may be purchased from the Market. There are a number of order kinds to choose from, in addition to risk management functions.
The MT4 platform offered by JP Markets enables trading in a number of different currencies, such as GBP, EUR, USD, SGD, and PLN, and it is accessible in thirty different languages.
The MT5 and Web Trader interfaces offered by MetaTrader are not accessible through genuine trading accounts held with JP Markets.
JP Marketplaces provides foreign exchange and contract for difference trading over 5,000 worldwide markets, including the following:
Indices, such as the Nasdaq 100 (NAS100) Commodities, such as gold and silver Cryptocurrencies, including Bitcoin Spreads and Commissions Stocks and shares on important global firms Forex, including majors, minors, and exotics Indices, such as the Nasdaq 100 (NAS100)
Spreads at JP Markets begin as low as 0.7 pips and range up to an average of 2 pips for currency pairs such as the EUR/USD. This, in addition to the fact that the broker charges a fee of $10 per lot for trading on ECN and STP accounts, makes working with this broker rather pricey. Comparing JP Markets to other brokers like Pepperstone, IB, or XM, for example, reveals that its spreads and commissions are significantly higher.
A rollover fee and an inactivity fee are charged by the broker for positions that are held overnight. These fees are assessed when the positions are rolled over. Thankfully, JP Markets is able to cut expenses in a variety of other ways. One advantageous perk, for instance, is that there are no costs associated with making deposits or withdrawals.
There is a flexible leverage option available up to 1:500. Having said that, the highest leverage is often only available to professional traders, while normal consumers can access leverage of up to 1:200. Leverage levels do also differ amongst instruments.
In general, however, JP Markets provides a generous leverage, in part because the regulatory requirements in South Africa are among the least stringent in the world. This implies that traders will be able to take positions that are far larger than what would typically be permitted in regions such as Europe, for instance. And although the fact that doing so raises the prospect of incurring losses, it also raises the possibility of generating substantial profits.
A member of the JP Markets team is available to discuss the margin requirements and the margin call procedure with you at any time. The specifics about how to get in touch with them are provided lower down the page.
The JP Markets mobile app claims to provide users complete management of their accounts while they are on the go. Users are able to create real-life accounts, make deposits and withdrawals, read educational resources, and do all of these things from the mobile dashboard. The mobile application may be downloaded into mobile devices running either Android (APK) or iOS (Apple).
Take note that the broker's app receives consistent updates aimed at enhancing the customer experience.
Customers of JP Markets have access to a respectable selection of choices for making deposits and withdrawing funds.
You can add money to your account by using any of the following methods:
Debit/credit cards (Mastercard & Visa)
Bank transfer (details on website)
Skrill Deposits will often show money in your trading account the same day, although this process can take anywhere from one to twenty-four hours. Customers are able to fund their accounts using the currency of their country of residence. JP Markets maintains banking relationships with Absa, FNB, Standard Bank, and Nedbank; the specifics of these relationships may be seen on the company's website. Because there is no required minimum initial deposit for ECN or STP accounts, traders have the freedom to pick an amount that is comfortable for them.
In order to deposit money into your account, go to the section of your account where it says "deposit," choose the currency and payment method you want to use, and then follow the on-screen instructions. Both deposits and withdrawals are completely free of charge.
The processing of withdrawal requests takes place Monday through Friday between the hours of 9 am and 5 pm GMT +2. (South African Standard Time). As a necessary but unfortunate aspect of the withdrawal procedure, there are a few security hoops to jump through, namely the following:
In order to request an internal transfer from your trading account to your landing account, you will need to log into your secure members' area.
Choose 'Transfers,' and then 'Internal Transfers' from the drop-down menu.
Please note that the 'from' account refers to your trading account and the 'to' account refers to your landing account. Enter the amount that you would want to withdraw.
Uploading required papers, such as a photo ID, a proof of address, and banking credentials, including an account number, will guarantee that the account will be validated and payments will be processed in a timely manner.
Within the same time frame of four hours, withdrawals are handled once the Finance department has completed processing the payment request.
Comparing JP Markets to other prominent suppliers in Africa, such as Exness and Globex360, reveals that the broker provides clients with a sufficient number of payment choices, minimum costs, and rapid processing times. In general.
A demo account is available to users of JP Markets. The demo account replicates realistic trading settings, including the use of real data and leverage from the relevant markets. The only notable distinction is the usage of virtual currency.
In order to create a new demo account, please:
Proceed to the Dashboard by clicking on It.
Click the "Open Account" link that may be found below the "My Trading Account" section.
Click the button labeled "Open New Trading Account."
Choose your primary unit of money.
Pick from a variety of account kinds (ECN or STP)
After entering your confidential login information, click the "Submit" button.
Bonus for Signing Up
JP Markets gives new customers a welcome bonus equal to the amount of their first deposit plus 200 percent, up to R280,000 (or the equivalent in USD). The 2020 bonus is applied mechanically and is suitable for deposits made using either a mobile device or a desktop computer. However, according to the terms and restrictions governing withdrawals, you are not permitted to withdraw the bonus credit.
JP Markets possesses a license that was issued by the Financial Services Board (FSB) of South Africa and bears the number 46855. Because the broker has received a number of complaints from clients, an inquiry has been opened into the matter, and as a consequence, the broker's license has been suspended. Before signing up for a new account with JP Markets, it is strongly advised that you wait until the company has resolved the regulatory challenges it is now facing.
Client money at JP Markets are kept in a separate account from business capital and are subjected to daily auditing by an independent auditor. Along with protection against negative balances, indemnity insurance has also been put into effect.
Copy-trading and other forms of automated trading would be excellent additions to the services that are now provided by the broker. A signals service would do the same thing, despite the fact that the broker does transmit optional market information through SMS, often many times on a daily basis.
There are several different kinds of accounts available with JP Markets. You have the choice of opening a genuine live account based on South African Rand (ZAR), United States Dollars (USD), or British Pounds (GBP). In addition, you have the option of selecting either an ECN or STP model. When using the STP model, the broker deducts their fee from the spread, but with the ECN zero spread account, traders are responsible for paying a commission on each transaction.
You will be required to provide FICA papers in order to register for an account. These documents include a proof of identification and proof of residency. Each type of investor account offers a safe sign-in procedure as well as a members-only section that can be used to browse the available resources and account features.
Creating a live trading account with JP Markets is a wise decision for a number of reasons, including the following:
No payment fees
The MT4 trading platform is supported by WhatsApp.
Welcome deposit bonus
Forex training and webinars available at no cost.
Deposits and withdrawals processed on the same day
Before you sign up for an account, there are various negatives you should think about, including the following:
Scalping & hedging unavailable
Complaints from customers regarding the inability to download MetaTrader 5
There will be no automatic trading.
Business & Finance:
The trading hours of JP Markets vary depending on the instrument, however they often adhere to the same schedule as other markets. As a direct consequence of this, trading foreign exchange and equities is mostly done during the week, but trading cryptocurrencies takes place in respectable amounts during the weekends.
Customers may get support through a variety of different ways, including:
The contact number for telephone inquiries is 082 828 0576, and the WhatsApp number is 0715599457.
Email address - email@example.com
In addition, there is an online contact form and a frequently asked questions (FAQ) section on the website. Customer support employees have a decent amount of expertise and are able to assist customers who are having trouble logging in, verifying their accounts, and accessing their client areas. They are also able to offer advice on what should be done in the event that an internal money transfer is rejected.
Our sole suggestion for improvement would be to shorten the amount of time it takes to resolve support tickets. When utilizing the live chat feature or the telephone hotline, it may take a few minutes before you are able to communicate with a human.
The novice trading classes offered by JP Markets are a standout feature of the company. Forex beginners have the option of signing up for free online training and webinars. There are video courses available on a wide variety of subjects, including as pattern analysis, the VIX 75, and trading methods, among other things. The website of the broker also provides access to an economic calendar, trading seminars, publications providing instructions on how to trade forex, and JP Markets Telegram, an online community for forex traders. In addition, the market insights provided by JP Markets COVID-19 have been attracting a lot of interest all around Africa, notably among merchants in Zimbabwe.
At JP Markets, a safe and sound atmosphere for trading is achieved through the use of website encryption. In addition, the MetaTrader 4 platform has a one-time-password, often known as an OTP, which adds an extra degree of protection.
One of the most well-known foreign exchange brokers in South Africa is called JP Markets. It is especially helpful for newcomers because it offers free training classes and webinars that can be accessed online. A high-quality trading experience is also ensured by the use of the dependable MT4 platform and the mobile app. Having said that, we would want to see spreads that are narrower, trading that is automated, and improved assistance for customers. We also advise you to refrain from signing up for a new account until the broker's license is fully operational, as this will save you time.
JP Markets welcomes traders from most countries, including the United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, and Qatar, as well as Australia, Thailand, Canada, the United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, and most other countries.
Traders located in the United States are unable to utilize JP Markets.
JP Markets is seen as having a low level of risk, and its reputation may be
summed up as one of trustworthiness and dependability. The Financial Services
Board of South Africa, which is considered to be the industry's premier
regulatory body, oversees JP Markets.
JP Markets is a foreign exchange (Forex) broker that has been in business in South Africa since 2016. It was founded by a businessman from the community who had a profound familiarity with global financial markets.
In addition to providing local and international traders with access to trading capabilities, JP Markets is committed to developing long-term partnerships.
Considering the fact that an educated trader is a successful trader, this is accomplished by making investments in the training of traders.
The headquarters of JP Markets are located in South Africa, and the company has operations in a number of other countries. JP Markets offers trading options on a Straight Through Processing (STP) basis for foreign exchange (Forex), metals, and other assets.
In addition to its locations in South African cities such as Johannesburg, Polokwane, Bloemfontein, Cape Town, and Pretoria, JP Markets also has branches in the countries of Swaziland, Kenya, Pakistan, and Bangladesh.
The goal of JP Markets was to help at least 500 people become millionaires trading foreign exchange over the next 10 years and to open at least 30 forex brokerages in Africa that are owned by Africans by the year 2020.
To determine which regulatory agencies are acting as watchdogs over the activities of a broker like JP Markets is one of the finest ways to evaluate the level of safety offered by such an organization.
JP Markets is effectively regulated as an international financial service because it is compliant with safety measures, offers clients transparent conditions, and is authorized by the Financial Sector Conduct Authority (FSCA) of South Africa (South Africa) with registration number 46855. JP Markets SA (PTY) Ltd.
FSCA has granted authorization to JP Markets SA (PTY) Ltd.
Customers are safeguarded by the company's regulatory requirements, which include adhering to a qualifying standard for the manner in which the broker does business, meeting trading criteria, and upholding additional safety regulations concerning money management and market integration.
This includes protection against negative balances, separation of funds belonging to traders, the greatest possible level of security, and the safeguarding of all customers' interests.
Not only is JP Markets registered and regulated in South Africa, but it also supports ZAR and provides traders in Africa with products that were developed just for them.
You may gain a lot higher exposure to the market you are trading on by using leverage, which is a facility that enables you to have a much larger exposure to the market than the amount you deposited to initiate the transaction. Your potential profit can be magnified when you use leveraged items, such as when you trade foreign currency, but your potential loss can also be increased.
The level of leverage is typically represented as a ratio, such as 50:1, 100:1, or 500:1. Assuming that you have a trading account balance of $1,000 and that the ticket sizes of your trades are 500,000 USD/JPY, your leverage will equal 500:1.
The amount of collateral that is used to cover any credit risks that may occur as a result of your trading operations is referred to as margin. It is usually indicated as a percentage of the size of the position (for example, 5 percent or 1 percent), and in order to guarantee that you have sufficient margin, you need to have cash in your trading account.
JP Markets provides a maximum ratio of 1:500, which is primarily geared at the needs of professionals. Retail traders have access to ratios such as 1:100 and 1:200, both of which fluctuate according to the specifications of the instrument.
Due to the fact that JP Markets is based in South Africa, the local rules continue to make large leverage ratios possible even to ordinary traders. It's possible that this is one of the reasons why South African brokers, and JP Markets in particular, are becoming more well-known.
At JP Markets, a forex account is a trading account that you will own and that will function similarly to your bank account, with the primary distinction being that it is issued primarily for the purpose of trading on currencies. If you are interested in opening a forex account, click here.
Your orders will be carried out in the market in both of the account types that JP Markets provides for its customers, which are referred to as STP standard accounts and ECN accounts respectively. In addition, clients have access to PAMM services.
Because of the STP service, a forex broker may transfer an order placed by a client straight to larger brokers or banks without the order having to go via a dealing desk first. This allows for orders to be processed more quickly.
NDD, which stands for "No Dealing Desk," is a feature that is connected to STP and provides brokers with access to the inter-bank FX markets. This aspect also eliminates any conflicts of interest, as well as completing orders and re-quotes.
Charges for raw spread and commission are associated with the Electronic Communications Network (ECN) account. Traders in this sort of account enjoy smaller spreads, but they are charged a fee for each deal that they have made.
One of the few brokers that offers interest on trading accounts, JP Markets is one of the few brokers that does so; nevertheless, there may be a qualifying minimum balance requirement.
Although JP Markets does not have a specific minimum deposit requirement, the minimum that is advised is around R3,000. This is especially true if you want training.
JP Markets' spreads are comparable to those offered by other market
participants. You may purchase EUR/USD for roughly 2 pip's worth of difference
on average. It's possible that accounts for copy trading may need extra
authorization settings in order to trade without a hitch.
Forex trading, also known as currency trading or FX trading, is a form of trading that takes place on the currency exchange market. The currency exchange market is a global, decentralized marketplace in which individuals, businesses, and financial institutions trade currencies with one another at varying exchange rates.
Commodity markets, in addition to currency exchange markets, provide traders with a large number of alternatives for making investments.
The demand of investors for these financial derivatives may be attributed to the significant part they play in portfolio diversification and risk management. The trading of soft commodities has been going on for millennia.
During periods of inflation or economic unpredictability, one tried-and-true method for mitigating risk is to make investments in contract-based, tradable products.
Equity indices, also known as stock indices, are genuine indexes of the stock market that are used to evaluate the worth of a certain sector of a stock exchange. They may be used to symbolize a particular stock market or they can be used to symbolize a particular collection of the greatest corporations in a country.
The trade of hard commodities, such as gold and other precious metals, as well as crude oil, copper, or petroleum, are all examples of marketable items that are dependent on contracts. These hard commodities play a significant part in the commodities market.
You may trade up to 30 different currency pairs, other contracts for difference (CFDs), gold, stock indices, and oil on the JP Markets website, which is powered by the MT4 (MetaTrader 4) trading platform.
As a result of the fact that JP Markets may provide its customers with a variety of account types, each of which may have a unique fee structure, depending on the requirements of the regulatory body with which it complies, customers may have varying experiences when it comes to the fees associated with their accounts.
The spreads offered by JP Markets are flexible and dependent on the conditions of the market. These spreads, which are also extremely competitive, are about 2 pips for a STP account on average.
The ECN account has a fee rate of $10 per lot, making it a more attractive choice for market experts while still being open to retail investors.
The number of deposit methods that are available with JP Markets is somewhat limited. Absa, FNB, Standard Bank, and Nedbank are some of the available banking alternatives; however, the South African Reserve Bank (SARB) will convert any overseas transfers to their own base rate.
You are required to make an initial deposit of at least R3,500, which is a reasonable sum when taken into consideration in conjunction with the requirements of other South African brokers. On business days, the most time that may be spent allocating payments is twenty-four hours (from Monday to Friday).
The fact that withdrawal requests may be sent using WhatsApp is one of the unique features offered by JP Markets that sets it apart from similar platforms offered by competitors. Withdrawals are processed quickly and easily, and the entire procedure takes roughly twenty-four hours. It is possible to do so on official working days between the hours of 9:00 and 17:00.
When sending your money, JP Markets employs methods that are secure and safe, and all transactions go through rigorous processing to guarantee that your money is kept safe.
Before you may make a withdrawal request, you are required to have scanned copies of your identification documents, bank statements, and other forms of address and identity verification that corroborate your data in accordance with the requirements established by the FSB.
Because the service does not permit electronic wallets or other comparable media, withdrawals must be processed through a local bank transfer.
The time it takes to receive cash is contingent upon the financial institution that you choose. For example, Standard Bank, ABSA, Nedbank, and FNB all make it possible for you to obtain your money on the same day, whilst other banks may take up to two days.
There is an additional cost of R50 for all withdrawals made using a credit card. Transfers between banks do not incur any costs for withdrawals; nevertheless, you are responsible for any fees that may be assessed by the receiving bank.
A forex trading platform is, in essence, the software that is offered to clients of JP Markets so that they may carry out their transactions on the foreign exchange market.
Clients are able to trade foreign exchange, as well as CFDs on stocks, stock indices, precious metals, and cryptocurrencies, on a multi-asset trading platform. This type of platform is also known as a multi-trading platform. What a customer wants to trade will determine which platform is best for them to use at all times, so keep that in mind while making your selection.
In addition to MT4, this broker provides access to its own own JP Markets platform, which is accompanied with a mobile application (App) for both Android and iOS devices. Customers have complete authority over their trading accounts thanks to this program.
The platform enables customers to open new MetaTrader accounts with a variety of deposit currencies and to move cash between those accounts. Deposits are reflected instantly, which enables customers to participate in trades as soon as they become available.
The MT4 platform offered by JP Markets facilitates transactions including Futures, Indices, Equities, and other CFDs. Additionally, it offers comprehensive charting features, tools for technical analysis, and automated trading.
Customers may download MT4 for Windows, Android, and iOS and take advantage of features such as variable leverage in the range of 1:1 to 500:1 and no rejections or requotes.
In addition, JP Market provides its customers with the JPM Mobile App, which enables them to maintain complete command over their trading activities at all times. Social trading is another option open to you, and you may access it through the Copy Trader or Copy Master accounts.
PlayOnMac is a free application that is based on the Windows operating system that is recommended for use by JP Markets. PlayOnMac makes it simple to install Windows programs on devices that utilize the Mac operating system. Wine is an application that allows Linux computer users to install MT4 on their PCs.
In the same way that you would have to go through a basic "know your customer" process in order to open a bank account, in order to open a forex trading account with JP Markets for the first time, you will be needed to go through this procedure.
Because of this, JP Markets will be able to verify the accuracy of the personal details you have provided, as well as protect the security of your cash and the information associated with your account.
Following the completion of the preliminary registration, you will typically get an email containing your login information. These data will correlate to a login on a trading platform that is suitable for the type of account you have.
At JP Markets, opening a live trading account is as easy as doing the following three steps:
First thing you need to do is fill out the registration form.
Find the homepage for JP Markets, then navigate to the register button and fill out the form that follows.
First thing to do is fill out the registration form.
Step 2: You will receive an email prompting you to verify your account.
Verify your account by going to the link provided in the email that you will receive.
Step 3: After you have made a deposit, you may begin trading.
Log in to your account and select the option to make a deposit. After that, select the method by which you wish to deposit money and begin trading.
Step 3: After you have made a deposit, you may begin trading.
Customers will have an easier time locating the precise answers to their questions and will have the opportunity to benefit from the best possible user experience if potential traders make certain that the broker company they select will provide support and assistance whenever it is required of them.
A live chat service is one of the accessible options when dealing with JP Markets. You may call them, send them an email, or use the WhatsApp support line to get in touch with them.
Prior to beginning their trading careers, prospective customers of JP Markets should make it a priority to acquire all of the relevant knowledge and experience in order to position themselves optimally for success in the global forex and commodity markets.
A trader should look into other informative websites and methods to get the necessary expertise if the JP Markets website does not supply enough of the necessary resources on its own.
JP Markets offers its customers professional guidance via the use of specialized online trading courses and a vast library of educational resources.
Traders who want to study at their own speed can take video courses or online courses, and the company also holds sessions in several of its locations in South Africa. On their website is something called a "Forex Education Course," which helps with the vocabulary and explanations.
Potential traders should perform as much study as they can on this sort of speculative trading before beginning, but also prior to every daring deal, in order to increase their chances of being successful in their trading endeavors and increase their level of confidence.
This will not only prevent them from losing money unnecessarily, but it will also make their deal as profitable as it can possibly be.
Clients will not receive signals from JP Markets; rather, they will receive top-notch knowledge and education concerning specific pairings, symbols, and activity in the markets through text messages and electronic mail.
In addition, there is a dictionary, an economic forex calendar, and other documents that explain how to do things on the website.
It is possible to summarize JP Markets as a desirable organization for prospective traders since it provides competitive trading circumstances together with the alternatives either to trade manually or to copy trades from the Copy Accounts, which results in improved prospects for investment.
In South Africa, JP Markets is a rather well-known brokerage, and its name is also well-known among traders in other countries. Because of its consistent growth, expansion, and improvement of trading chances, JP Markets provides another another advantage for those looking to make a long-term investment.
The broker offers a restricted number of account types and does not permit scalping, hedging, or the use of automated trading systems (EAs). Because the MT4 platform is the only one that JP Markets offers, many traders will find it simple and straightforward to use.
Sites like JP Markets in the UAE
Here is a list of quality Forex, CFD, Stock and Crypto Brokers for new and professional traders living in the UAE:
- Olymp Trade - People simply love this one (Olymp Trade Review)
- Binance - World's largest cryptocurrency e-wallet and exchange that also has an online trading platform, where their members can invest or trade in virtually hundreds of cryptocurrencies and new tokens. (Binance Review)
- IG Markets UAE - UK broker located at Tower 2, Level 27, Al Fattan Currency House, DIFC. (IG Markets UAE Review)
- City Index Middle East - London-city broker with a branch in the UAE. (City Index Middle East Review)
- eToro - Social trading platform, but much better options are available out there. (eToro Review)
- Swissquote - It's a Swiss bank that offers an online trading platform for forex and CFD trading. (Swissquote Review)
- easyMarkets - Israeli brand that is big all over. (easyMarkets Review)
- Forex.com - Google ranks them in the top 10 for the term "forex". (Forex.com Review)
- Plus500 - UK brand that has its own platform, OK for CFDs, with mediocre reviews. (Plus500 Review)
- AvaTrade - Regulated by ADGM's Financial Services Regulatory Authority (FSRA) in Abu Dhabi. (AvaTrade Review)
- FXCM.com - Oldest brand when it comes to retail online forex trading. (FXCM.com Review)
- Mashreq Neo - An online trading platform provided by Mashreq Bank. (Mashreq Neo Review)
- ForexTime (FXTM) - Owned by Andrey Dashin from the Alpari broker fame. (ForexTime FXTM Review)
- Noor Capital - Licensed and Regulated by the UAE Central Bank and SCA. (Noor Capital Review)
- XM.com - XM broker is big in Africa and South East Asia, and now promoting themselves hard in the UAE. (XM.com Review)
- Saxo Bank - Danish Investment Bank with a long history of catering for premium forex investors. It also provides crypto trading facility. (Saxo Bank Review)
- Pepperstone - Originally Australian, but licensed locally by Dubai Financial Services Authority. (Pepperstone Review)
- CMC Markets - UK-based broker that is popular among CFD traders. (CMC Markets Review)
- ETX Capital - UK broker that has a decent reputation among Arab investors. (ETX Capital Review)
- Interactive Brokers - American online-trading broker that is expanding into Asian and Arab markets nowadays. (Interactive Brokers Review)
- Rakuten Securities - Japanese broker that usually looks out for large institutional investors. (Rakuten Securities Review)
- Dukascopy Bank SA - Swiss bank that offers online forex trading on its own proprietary platform. (Dukascopy Bank SA Review)
- IQ Option - It's a below-average broker with no Dubai office, but does have a toll-free virtual number for UAE: 800 032 0891 -> No Arabic, English only. (IQ Option Review)
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.