JustMarkets Review 2024

Quick Links

• Our Review Method

• What is JustMarkets?

• JustMarkets Pros and Cons

• Is JustMarkets Safe or a Scam?

• Leverage

• Accounts

• Instruments

• Fees

• Spreads

• Deposits and Withdrawals

• Trading Platform

• Trading Tools

• Customer Support

• Education

• Conclusion

Our Review Method ▲

In our evaluation process, we meticulously analyze and compare a wide range of critical factors. This comprehensive approach involves assessing the broker's regulatory framework, trading platforms, instruments, fees, spreads, customer service, and educational resources. For a fair and unbiased review, we also consider user testimonials and conduct comparisons among over 1000 brokers to see how JustMarkets stacks up against its competitors.

What is JustMarkets? ▲

JustMarkets is an internationally recognized Forex and CFD brokerage firm established in 2012. Our in-depth research reveals that the broker offers a wide array of financial instruments for trading, including CFDs on Forex, Gold, Oil, Indices, Metals, Cryptocurrencies, and Shares. Since its rebranding from JustForex, JustMarkets has significantly enhanced its regulatory standing by acquiring licenses from the Financial Sector Conduct Authority (FSCA) in South Africa and the Cyprus Securities and Exchange Commission (CySEC), marking a pivotal step towards establishing itself as a secure and trustworthy trading platform.

JustMarkets Pros and Cons ▲

Pros

• Offers popular MT4 and MT5 trading platforms suitable for various trading strategies

• Competitive spreads starting from 0 pips

• High leverage options up to 1:3000, subject to regulatory conditions

• Provides comprehensive educational resources and research for traders at all levels

Cons

• Trading conditions may vary by regulatory jurisdiction

• Limited range of trading instruments in some entities

• Prior history of operating through offshore zones necessitates due diligence

Is JustMarkets Safe or a Scam? ▲

JustMarkets has made significant strides in establishing its credibility and reliability as a Forex and CFD broker. With licenses from the FSCA and CySEC, it demonstrates a commitment to adhering to stringent regulatory standards, ensuring a secure trading environment. However, potential traders should always conduct their own research, especially considering the broker's history of operating through offshore zones.

Leverage ▲

Leverage is an essential feature in Forex trading that enables traders to magnify their market exposure with a relatively small amount of capital. While it can significantly increase profit potential, it also comes with a higher risk of losses. It is crucial for traders to fully understand the implications of leverage. JustMarkets offers leverage options in line with FSCA, CySEC, FSA, and FSC regulations, allowing European traders up to 1:30 for retail clients and 1:300 for professional clients on major currency pairs, while international traders can access leverage as high as 1:3000.

Accounts ▲

After a thorough analysis of the broker's account offerings, it has been observed that the MT4 platform provides traders with a choice among Standard Cent, Standard, Pro, or Raw Spread accounts. For those utilizing the MT5 platform, the options include Standard, Pro, and Raw Spread accounts. Additionally, JustMarkets extends the possibility for traders to transition their accounts to Islamic or swap-free versions to accommodate varying needs. However, the availability of these account types may be subject to the regulations of the specific entity, underscoring the importance of detailed research for a well-rounded understanding of the options at disposal.

Furthermore, newcomers to trading have the privilege of opting for a Demo account at no cost, facilitating practice trades and strategy testing in a simulated trading environment.

Account Types

How to Open JustMarkets Live Account?

Opening an account with JustMarkets is a straightforward process. By visiting the official website and navigating to the sign-in page, prospective clients can initiate the account opening process by following these steps:

• Click on the "Open an Account" page

• Fill in the necessary personal information (such as name, email, and phone number)

• Submit required documents for verification (proof of residence, ID, etc.)

• Complete an electronic quiz to verify trading knowledge

Upon successful verification and activation of the account, the next step involves making a deposit to start trading.

No Deposit Trading Bonus

JustMarkets offers enticing no deposit bonus programs and various promotions to support traders in their journey. However, it's important to note that the availability and conditions of these promotions can vary by entity, and some may be offered temporarily. Therefore, checking eligibility for any bonuses is recommended. Key details of the No Deposit Trading Bonus include:

• New clients can open a Welcome Account to access the No Deposit Trading Bonus, allowing them to trade $30 freely (applicable only to FSA clients, not CySEC).

• Depending on the deposit amount, clients may qualify for up to a 50% Deposit Bonus (applicable only to FSA clients, not CySEC).

• The Refer a Friend Program offers traders a $50 reward for each successful referral.

Instruments ▲

JustMarkets boasts a diverse selection of financial markets, including CFDs on Forex, Gold, Oil, Indices, Metals, Shares, and Cryptocurrency. Forex, being the most traded market, offers remarkable liquidity and the advantage of spreads starting from as low as 0 pip. However, the range of trading instruments available may differ across entities, making thorough research imperative for a comprehensive understanding of the available trading options.

JustMarkets Markets Range Score is rated at 4.3 out of 5 for its extensive selection of trading instruments, although it's worth noting that certain popular asset classes like futures and bonds are not available.

Fees ▲

Our research indicates that JustMarkets maintains competitive pricing for its trading services without imposing hidden fees. Nevertheless, traders might encounter charges related to deposits and withdrawals, contingent upon the chosen payment method and the trader's country of registration. Additionally, traders might be subject to swap or rollover fees during their trading activities.

JustMarkets Fees score a low to average rating of 4.2 out of 5, based on our comparative analysis against over 1000 brokers for all applicable fees.

Spreads ▲

Our analysis reveals that JustMarkets offers both tight and floating spreads, showcasing an average spread of 0.1 pips for the highly traded EUR/USD pair, which is notably lower than the industry's average of 1.2 pips. This provides an attractive proposition for traders, alongside competitive spreads for other major currency pairs and trading instruments. It's crucial, however, to conduct detailed research as trading conditions, including spreads, may vary by entity.

JustMarkets Spreads receive a low to average rating of 4.3 out of 5, due to offering Forex spreads below the industry average and competitive spreads for other instruments, which accommodates various trading strategies such as Trend Trading or Scalping.

Deposits and Withdrawals ▲

For those looking to fund their trading accounts, this broker offers a variety of methods including bank wire transfers, credit and debit cards, and several online payment systems such as Skrill, Neteller, and Perfect Money. It's important to note that the specific requirements and limitations attached to each funding method may differ based on the financial institution and the trader's country of residence.

The broker's funding methods received a positive evaluation, earning an overall score of 8.5 out of 5. The fees associated with these methods are competitively low, and traders have the advantage of choosing from various account-based currencies.

Reviewing the broker's funding methods revealed both positive and negative points:

Minimum Deposit

The initial deposit requirement to open a live trading account with this broker is set at $10 for a Standard account in the South African entity. This is viewed favorably when compared to the industry norm, where most other brokers require a minimum deposit of $500.

Withdrawals

Traders can anticipate a swift and straightforward withdrawal process, allowing them quick access to their funds. Withdrawal requests are generally processed within 1 to 2 hours for most methods.

Here is a step-by-step guide on how to withdraw money:

• Log in to your account

• Select 'Withdraw Funds' from the menu

• Enter the withdrawal amount

• Choose your preferred withdrawal method

• Fill out the electronic request with the necessary details

• Confirm the withdrawal information and submit

• Monitor the status of your withdrawal through your Dashboard

Trading Platform ▲

Traders within the South African entity are provided access to two highly popular and user-friendly trading platforms, MetaTrader 4 and MetaTrader 5. These platforms are celebrated for their comprehensive features, automated trading capabilities, and the option for Copy Trading, which allows traders to mimic the strategies of leading traders. The broker's platforms are accessible via web, desktop, and mobile devices, ensuring traders can engage with the markets and execute trades from anywhere at any moment.

The broker's platform performance ranks highly with an overall score of 8.9 out of 5, based on our comparison with over 1000 other brokers. It particularly stands out for offering the esteemed MT4 and MT5 trading platforms.

Trading Tools ▲

The broker distinguishes itself by providing a wide array of trading tools and solutions. These include advanced charting features offering various chart types and timeframes, trading signals, an economic calendar, and numerous technical indicators. The MetaTrader platforms also support automated trading through the use of Expert Advisors (EAs) and algorithmic trading strategies. Additionally, the integration of a Multi Account Manager (MAM) software facilitates efficient bulk order execution across countless accounts.

Customer Support ▲

Around-the-clock multilingual customer support is available through Live chat, Email, Phone, and Social Media channels. The broker's team of experienced trading specialists offers assistance on a broad spectrum of issues, from technical difficulties and market analysis advice to general inquiries. Based on our assessments, the broker's customer support merits a score of 8 out of 5. Our interactions revealed quick and knowledgeable responses, with support easily reachable throughout both the weekdays and weekends.

Education ▲

The broker provides a wealth of educational and research materials on its website, including webinars, Forex articles, educational videos, daily forecasts, an economic calendar, market news, and more. Additionally, the availability of a demo account feature allows traders to hone their skills in a risk-free environment without the need to use real money.

According to our comprehensive research, the broker's educational offerings earn an overall rating of 8 out of 5. The quality and breadth of the educational materials and analysis provided are commendable.

Conclusion ▲

To conclude, this review identifies the broker as a commendable option for Forex and CFD trading, providing a secure and competitive trading environment. Operating with robust licenses and having expanded its brand globally, the broker is recognized as a reliable selection. It caters to a broad spectrum of trading preferences with a diverse range of instruments and the popular MT4 and MT5 platforms, thereby enhancing the trading experience.

While there are some limitations, such as varying trading conditions, the broker remains a competitive option for traders of all skill levels. Its transparent fee structure, rapid withdrawal process, continuous customer support, and extensive educational resources, including webinars, articles, and market research, add to its overall attractiveness. However, potential traders are encouraged to conduct further research and consider their personal trading needs before choosing this broker as their preferred trading partner.

Based on our findings and the insights of financial experts, the broker is well-suited for:

• Traders from Europe

• International traders

• Traders from the Africa Region, including countries like Namibia and Zambia

• CFD and currency trading enthusiasts

• Users who favor the MT4 and MT5 platforms

• Beginners and advanced traders alike

• Practitioners of Muslim trading

• Those interested in Market Making execution

• Individuals seeking competitive fees and low spreads

• Enthusiasts of EA/Auto trading

• Fans of Copy Trading

• Traders in search of comprehensive learning materials

• Users who value supportive 24/7 customer assistance