JP Markets Review

Category: Reviews | Author: Trading Brokers | Date: January 16, 2024

So you’re thinking about giving JP Markets a shot for your trading needs? This South African broker has been making waves with its competitive spreads, high leverage, and range of tradable assets. But not so fast! While JP Markets seems appealing on the surface, there’s more to the story. In this review, we’ll take a close look under the hood to see if this broker measures up across essential factors like regulation, account options, fees, customer support, and more. By the end, you’ll have the unbiased info you need to decide if JP Markets is legit or just blowing smoke. Let’s dive in!

Pros & Cons

  • Includes various educational resources
  • Utilizes the advanced MT5 platform
  • Offers a diverse range of trading assets
  • JP Markets is regulated by South Africa's FSCA
  • Provides multiple account types
  • Features several funding options
  • Limited customer support hours
  • Reports of high trading fees
  • Negative user experiences noted
  • History of a suspended license

Summary 

JP Markets

JP Markets

JP Markets is a South African broker that stands out with its tech innovation, offering world-class trading platforms and tools to make trading easy for its over 400,000 clients. They offer a variety of account types, including VIP, Standard, Islamic, Premium, and Draw Down Bonus accounts, each with its own set of features and benefits to suit different trading styles and financial goals.

JP Markets provides a range of trading assets, including forex, indices, commodities, and stocks, allowing traders to diversify their portfolios. They also offer a variety of funding methods, including debit/credit cards, bank transfers, and e-wallets, making it easy for traders to fund their accounts.

In terms of education, JP Markets offers a variety of resources, including blogs, FAQs, videos, and articles, to help traders sharpen their skills and stay informed about the latest market trends. They also offer the MT5 platform, known for its advanced technical and fundamental analysis tools, along with an economic calendar, charting tools, and a calculator.

Overall, JP Markets is a broker that offers a comprehensive trading experience, with a strong focus on tech innovation, personalized service, and a wide range of trading assets and account types. They are committed to staying ahead in the dynamic realm of trading and providing services that they are consistently proud of.

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Our #1 Broker 2023

AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Regulation

This South African broker, officially known as JP Markets SA (Pty) Ltd, is an authorised financial services provider and over-the-counter derivatives provider. It’s licensed and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46855.

What does this mean for you? Well, as the counterparty and principal to the contract for difference purchased by you, the client, JP Markets is authorised to issue the derivatives you trade. This is a good thing, as it means there’s a regulatory body keeping an eye on them to ensure they’re playing by the rules. However, it’s important to note that JP Markets SA (Pty) Ltd doesn’t extend its services to U.S. investors or to any jurisdiction where such distribution or utilization would conflict with local legal standards or regulations.

So, if you’re based in the U.S. or other restricted areas, you might need to look elsewhere. Also, JP Markets SA (Pty) Ltd only offers services in South Africa, Namibia, Swaziland, and Lesotho. So, if you’re in these regions, you’re good to go. But remember, while regulation is a good sign, it’s not a guarantee of safety. There have been instances where JP Markets has been involved in controversies, including allegations of fraudulent activities. So, always do your due diligence before diving in. And if you’re not quite sold on JP Markets, no worries. Please see a list of regulated brokers for some alternative options.

Platforms & Tools

If you’re a fan of MetaTrader, you’re in luck. JP Markets has recently welcomed MT5 to its platform lineup, marking a new era in trading technology. MT5 is a big deal in the trading world, known for its advanced technical and fundamental analysis tools.

MT5 Trading Platform

MT5 Trading Platform

Now, let’s break down some of the tools JP Markets offers:

  • Economic Calendar: This is a handy tool for keeping track of important financial events that could impact the markets. It’s like having a personal assistant who keeps you updated on all the market-moving news.
  • Charting Tools: With MT5, traders can access enhanced charting tools and additional graphical objects, significantly improving their analysis capabilities. These tools can help you spot trends, identify potential trading opportunities, and make more informed decisions.
  • Calculator: This tool can be a lifesaver when you need to quickly crunch numbers. Whether you’re calculating potential profits, losses, or figuring out your margin requirements, this calculator has got you covered.

JP Markets is all about providing a superior trading experience, and these tools are part of that commitment. They’ve even redesigned their website to make it more user-friendly and efficient, showcasing their dedication to leading-edge technology and streamlined efficiency. But remember, tools are only as good as the person using them. So, make sure you understand how to use them effectively to get the most out of your trading experience.

Education

When it comes to learning the ropes of trading, JP Markets has got you covered. They offer a variety of educational resources to help you get up to speed. Let’s take a look at what they’ve got:

  • Blogs: JP Markets runs a blog that covers a wide range of topics. Whether you’re looking for trading strategies, market analysis, or just some general trading tips, their blog is a great place to start.
  • FAQs: Got a question? Chances are, you’ll find the answer in their FAQs section. It’s a great resource for getting quick answers to common questions about trading, account management, and more.
  • Videos: If you’re more of a visual learner, you’ll appreciate their collection of educational videos. These videos cover a range of topics and can help you understand complex trading concepts in a more digestible format.
  • Articles and News: Stay up-to-date with the latest market news and insights with their articles. They cover a wide range of topics, from market trends to trading strategies, to help you make informed trading decisions.

Markets

Alright, let’s dive into the markets you can trade with JP Markets. This broker offers a pretty diverse range of instruments, so whether you’re into forex, indices, commodities, or stocks, they’ve got you covered.

  • Forex: As the world’s largest financial market, forex trading is a big deal at JP Markets. You can trade a variety of currency pairs, from the major ones like EUR/USD to more exotic pairs. So, whether you’re a night owl or an early bird, the forex market is always open for business.
  • Indices: If you’re interested in trading the overall performance of a country’s stock market, then indices are your go-to. JP Markets offers a range of indices, allowing you to speculate on market trends without having to analyse the performance of individual companies.
  • Commodities: Fancy trading gold, oil, or other commodities? JP Markets has got you covered. Trading commodities can be a great way to diversify your portfolio and hedge against market volatility.
  • Stocks: If you prefer trading individual companies, JP Markets offers a range of stocks. Whether you’re into tech giants or emerging startups, you’ll find plenty of options here.

Remember, each market comes with its own set of risks and rewards, so it’s important to do your homework before diving in.

Accounts

Let’s talk about the different account types JP Markets offers. They’ve got a range of options to suit different trading styles and levels of experience. Here’s the lowdown:

  • VIP Account: This account is for the big players. With a minimum deposit of R20,000, you get access to all instruments on the MT5 platform. You can leverage up to 1:500, and the spreads start from 0.5 pips. There’s a commission of 3 USD, and the account currency can be either USD or ZAR.
  • Standard Account: This is a great starting point for new traders. With a minimum deposit of just R100, you can trade CFDs on the MT5 platform. Leverage can go up to 1:2000, and spreads start from 1.5 pips. There’s no commission, and the account currency can be either USD or ZAR.
  • Islamic Account: This account is designed for traders who want to comply with Islamic finance principles. It’s similar to the Standard Account, but with a higher minimum deposit of R10,000 and no swap fees.
  • Premium Account: This account offers access to all instruments with a minimum deposit of R10,000. Leverage can go up to 1:2000, and spreads start from 1 pip. There’s no commission, and the account currency can be either USD or ZAR.
  • Draw Down Bonus Account: This account comes with a unique feature – a 100% drawdown bonus. The minimum deposit is R3000, and you can trade FX, Metals, Indices, and Commodities. Leverage can go up to 1:500, and spreads start from 2 pips. There’s no commission, and the account currency can be either USD or ZAR.

Remember, each account type comes with its own set of features and benefits, so choose the one that best fits your trading style and financial goals.

Funding

When it comes to funding your account, JP Markets keeps it simple and straightforward. They offer a variety of methods to suit your needs, so you can choose the one that works best for you.

  • Debit/Credit Cards: This is a quick and easy way to fund your account. Just enter your card details, specify the amount you want to deposit, and you’re good to go.
  • Bank Transfer: If you prefer to transfer funds directly from your bank account, JP Markets has got you covered. They have bank accounts with Absa, FNB, Standard Bank, and Nedbank, making it easy for you to transfer funds.
  • e-Wallets: If you’re all about digital payments, you’ll be happy to know that JP Markets accepts e-wallets. This is a convenient and secure way to fund your account, especially if you’re trading on the go.

JP Markets also has bank accounts with Absa, FNB, Standard Bank, and Nedbank, and supports multiple payment gateways. This makes it easy for clients to make deposits via EFT or cash deposit, or a simple card transaction on the broker’s website with their preferred intermediary.

Remember, it’s important to ensure that the name on your JP Markets account matches the name on the funding source. This is to comply with anti-money laundering regulations and to ensure the security of your funds.

The company ensures the security of clients’ funds by safeguarding them in segregated accounts at premier banks. As a globally regulated broker, JP Markets adheres to strict regulations and uses top-tier banks for client funds.

Withdrawals are processed Monday to Friday from 9am to 5pm, GMT +2 (South African Standard Time). The broker does not charge withdrawal fees

Conclusion

Wrapping up our casual stroll through JP Markets, we’ve seen that they offer a variety of account types, a range of markets to trade, and multiple funding methods to get you started. They’ve got the tech side of things covered with MT5 and a suite of handy trading tools. Plus, their educational resources are there to help you sharpen your trading skills.

However, it’s worth noting that while JP Markets offers strong features, there are other brokers with longer track records that might be worth considering as alternative options. For additional choices, we encourage you to explore our trading brokers reviews. It’s always good to shop around and see what fits your trading style best. After all, it’s your money on the line, so make sure you’re putting it in the right place.

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R100

JP Markets is a leading South African broker renowned for delivering personalized trading services. With a strong focus on technological innovation, the company offers world-class trading platforms and tools to over 400,000 clients across Africa. As an FSCA-regulated broker, JP Markets provides a wide range of trading instruments, from forex to stocks, and five unique account types.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


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