JP Markets Review
JP Markets is a regulated trading broker that is based in Africa and provides Forex/CFD trading via user-friendly platforms. The broker does have a range of flexible payment methods, educational materials to help beginners and supports copy trading. However, the trading brokers review team found the commission fees and spreads to not be the lowest whilst the asset range could be considered limited when compared to some other online brokerages. JP Markets could also benefit from having daily market analysis which could inspire trade ideas and a choice of additional trading tools to assist traders with more complex trading needs.
JP Markets Review, Pros & Cons
- Regulated brokerage firm
- No fees on deposits or withdrawals
- Negative balance protection
- Variety of deposit & withdrawal methods supported
- Range of educational materials
- Copy trading
- Lack of additional trading tools
- Not the lowest spreads & commission fees
- No MetaTrader 5
- No daily market analysis
- Limited trading instruments compared to some other brokers
- No clients from the USA allowed
In this detailed JP Markets review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
JP Markets Overview
JP Markets claim to be Africa’s biggest online forex broker, providing quality and versatile financial services to their diverse clientele. Starting off in a small office, they have since expanded into multiple countries including Kenya, Pakistan and Bangladesh. The broker states that their mission is to keep pace with global market demands and approach clients’ investment goals with an open mind. Amongst the brokers features include:
- ECN or STP Accounts
- Competitive Spreads
- Instant Deposits Through the Client Portal
- Fast Withdrawals
- MetaTrader 4
- Custom JP Markets App
- Stable and Secure Trading Servers
- Selection of Asset Classes
- Stocks and Cryptocurrencies Available
JP Markets was established in 2016 thanks to the founders passion for the industry and ability to engage successfully with clients while building long-lasting and fruitful relationships. They have won a few awards including South Africa’s Best Broker 2019 (Global Business Outlook), South Africa’s Fastest Growing Broker 2019 (International Finance) and The Most Transparent Broker 2019 (The European).
JP Markets Regulation
JP Markets SA are licensed and regulated by the Financial Services Board South Africa (FSCA). This helps to give clients the confidence that they are using a trusted broker which should comply with strict rules and regulations implemented to help protect investors.
The broker has negative balance protection, utilising an automated transaction monitoring and risk management system to ensure that a client’s account will never be allowed to reach negative balance.
Client safety is amongst the top priorities for JP Markets. They keep client funds in a separate banking account as requested by the regulator. This along with state-of-the-art security can help to ensure that clients’ money is safe and secure.
JP Markets Countries
JP Markets offers online trading services to clients around the globe excluding some countries where legal restrictions prevent them from doing so, such as the United States. Some JP Markets broker features and products mentioned within this JP Markets review may not be available to traders from specific countries due to legal restrictions.
JP Markets Platforms
JP Markets have a choice of quick and efficient trading platforms for trading that incorporate high performing and innovative technology. They have minimal lag and re-quotes on orders so you can get trades executed as close as possible to the price that you want.
MetaTrader 4 Platform
The broker offers the award-winning MetaTrader 4 (MT4) as the primary forex trading platform for clients. MT4 is developed by software company MetaQuotes and used by millions of traders from all over the world. It is well known as an easy to use yet powerful platform that is fully customisable and suitable for traders of all experience levels. It has advanced charting features, technical analysis tools and automated trading capabilities.
MT4 comes with everything you need to start trading immediately and JP Markets provide it free of charge for desktop, web and mobile devices (iOS & Android). It is capable of processing dozens of different financial instruments and is used by retail investors to buy and sell currencies. In addition to allowing users to trade the forex market, the MT4 platform supports Futures, Indices, Equities and other CFD transactions.
Its distributed architecture, robust security system and convenient mobile trading are some of the core competences that give the platform its compelling competitive advantages, offering an ideal solution to some of the most demanding trading needs. JP Markets MT4 platform supports multiple account base currencies including USD, EUR, GBP, SGD and PLN whilst it is available in over 30 different languages.
JP Markets Mobile Trading Application
The JP Markets app gives you full control over your trading account. It enables instant deposits, fast withdrawals, the ability to transfer funds between accounts, create new trading accounts and much more.
You can manage your portfolio of forex accounts like a professional and get access to instant deposits through the brokers payment gateways including instant deposits from Absa, Capitec, FNB, Investec, Nedbank, Standard Bank, Visa, Mastercard and Skrill.
The trading app gives you complete account management whilst on the go from within the palms of your hands. Withdrawals are transferred out of your trading account immediately whilst deposits also reflect immediately, enabling you get in to trade positions at your convenience. You also have the ability to create new MetaTrader accounts with various deposit currencies and transfer funds between accounts all from this one app.
JP Markets offer copy trading to its traders. You can sign-up to the copy trading platform and add your account. From there you can the select a master trader to copy according to your risk appetite and objective. You can keep track of statistics and performance from within the copy trader platform. It must be strongly emphasised that there is no guarantee of results when copy trading and past performance is by no means an indication of future performance.
JP Markets Trading Tools
Whilst JP Markets do not provide any standalone tools such as a sentiment analysis and trading calculators, the platforms provided are more than likely to have more than enough tools built-in to cater to the needs of the majority of retail traders.
JP Markets Education
JP Markets are passionate about educating and empowering their clients, and are thus constantly adding to their offering in order to help equip traders with the tools and resources needed to become a better trader. The broker has a good amount of educational resources including:
This is a large section of the website that gives an extensive introduction to the forex market and covers a range of subjects to inform beginner traders about some of the core principles of forex trading. Subjects include trading strategies, market analysis, risk management, trader psychology and much more.
This is another section of the brokers website that again covers some of the key things you need to know about the forex market if you are new to trading online.
JP Markets offer a complete online video course, supplemented with support from experienced traders, to get you started and guide you on your journey, while also providing an opportunity for existing traders to build their existing knowledge. The course is not just for complete beginners, but also has advanced trading strategies and knowledge put together by the brokers forex experts consisting of a team of 10 professional traders with almost 100 years of experience combined. You can subscribe to the JP Markets YouTube channel for weekly video updates and new information to help you improve your trading skills and knowledge.
The broker has a glossary available that covers the most common trading terminologies along with definitions. This can help new traders familiarise themselves with some of the frequently use phrases associated with trading online.
Economic Forex Calendar
The economic calendar on the brokers website displays the latest financial news releases and can be used as part of the fundamental analysis of a trading strategy. You can see the dates and times of news releases along with the forecasted and actual impacts they have on various markets around the globe.
JP Markets Instruments
JP Markets offer a choice of instruments across multiple asset classes for trading online including:
- Forex currencies (major, minor & exotic crosses)
JP Markets Accounts & Fees
JP Markets offer STP/ECN accounts from $200 with flexible leverage ranging from 1:1 – to 1:500. The STP execution account has costs included into the spread only whilst the ECN account delivers a raw spread with an additional commission charge of $10. The STP spreads are higher than many other brokerages, starting from around 2 pips on the EURUSD. There are also accounts for copy trading as a copy trader (investor) or copy master providing a signal. Demo accounts are available should you wish to test out the brokers platforms and practice your trading systems risk free.
JP Markets Support
JP Markets have a friendly customer support team who are happy to help you with any request via the online chat, telephone or email. There is a frequently asked questions (FAQ) section on the brokers website that can give you instant answers to some of the more commonly asked questions.
JP Markets Deposit & Withdrawal
JP Markets offer a variety of convenient payment methods including Wire Transfer, Credit/Debit Card along with online payment processors such as Neteller and Skrill. The broker does not charge you any fees for bank deposits or withdrawals made through their payment gateways. They offer a variety of fast, reliable deposit and withdrawal methods with the technology required to support instant funding without any long waiting periods.
Third party payment processors may charge additional fees and all payment options may not be available for deposit and withdrawal. Some methods may also not be available to certain countries and limits may apply. The broker does not accept third-party payments. All funds deposited into your trading account must be under the same name as your JP Markets trading account.
Payment allocations can take up to 24 hours from Mondays to Fridays. For faster allocation you can email all proof of payments to the brokerage. All international payments and other currencies will be converted to the rate that of the SARB (South African Reserve Bank).
As broker fees can vary and change, there may be additional fees that are not listed in this JP Markets review. It is imperative to ensure that you check and understand all of the latest information before you open a JP Markets broker account for online trading.
JP Markets Account Opening
There is a short online application form to complete if you would like to open an account with JP Markets. You will need to provide some personal information and ensure that you read all of the brokers policies, terms and conditions. Only proceed if you agree to them. You will also be required to submit documents such as passport and proof of address as a normal part of the KYC procedures. Once your account has been verified by the accounts team, you will be able to make deposits and start trading online.
JP Markets Summary
JP Markets is a trading broker based in Africa who deliver a solid offering for Forex and CFD trading via intuitive trading platforms that are compatible with multiple devices. They are regulated and have a reasonable selection of trading instruments although not as many as some other trading brokers who offer thousands of tradeable assets. The broker also has a plausible range of educational materials and support many convenient funding options. Despite this, the spreads and commission are not the lowest we have seen whist some additional trading tools and daily market analysis would benefit traders.
Trading Foreign Exchange (Forex) and Contracts for Differences (CFD’s) is highly speculative, carries a high level of risk and may not be suitable for all investors. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin.