JP Markets Review 2020

JP Markets Summary

JP Markets is a Forex broker, that was founded in 2016 and it is currently headquartered in Cape Town. It aims to create long-lasting trading relationships and trading capability, which will encourage traders from all over the world to reach their trading potential.

JP Markets Main Features
🛍️Established in: 2016 🛍️Headquarters: Cape Town
⚖️Regulations: FSCA ⚖️Country of regulation: South Africa
💰Minimum Deposit:
$0

🎮Platforms:

MT4,JP Markets Mobile

🎮Demo Account Available: Yes

💱Leverage: 1:500

💰Withdrawal fee amount:
$0
💰Inactivity Fee:
Yes

Pros

  • Regulated by the FSCA
  • Provides negative balance protection
  • Fast deposit process
  • No minimum deposit required
  • Demo Account provided
  • Interest on trading account available
  • Low non-trading fees
  • The trading platform is a very customer-friendly design

Cons

  • No 24\7 customer support
  • Slow withdrawal process
  • Inactivity fee required

 

Safety & Regulation

JP Markets is a legitimate Forex broker that is regulated by the Financial Services Board (FSB) or Financial Sector Conduct Authority (FSCA) which is named now, of South Africa. This Forex trading broker stores client funds in segregated accounts away from corporate funds. JP Markets also provides negative balance protection to ensure the protection of the client funds in case your balance in the negatives.

This JP Markets review will provide you with the different protective measures that this Forex broker takes for clients.

Is JP Markets Safe?

JP Markets is considered a safe Forex broker that is registered with the Financial Services Board (FSB) of South Africa. JP Markets offers negative balance protection to its clients and keeps client funds in segregated accounts.

Pros

  • Regulated by the Financial Services Board (FSB) of South Africa
  • Provides negative balance protection
  • Stores funds in segregated accounts
  • Offers Professional Indemnity insurance

Cons

  • Not publicly traded in Stock Exchange

Regulation

JP Markets is a legitimate Forex broker that is regulated by the Financial Services Board (FSB) of South Africa with a license number 46855.

Protection

JP Markets is a CFD and Forex broker that stores client funds in segregated accounts and provides negative balance protection. In addition, JP Markets offers Professional Indemnity Insurance.

Awards

In 2019, JP Markets was awarded as the Most Transparent Broker of 2019 by the European and South Africa’s Best Broker of 2019 by the Global Business Outlook Magazine.

 

JP Markets Fees

JP Markets offers low non-trading fees and relatively low trading fees. You will not have to consider being charged with a deposit or withdrawal fee, but the ECN trading account does charge commission.

This JP Markets review will inform you of the different trading and non-trading fees you have to consider.

Pros

  • Low non-trading fees
  • No deposit or withdrawal fee
  • Tight spreads provided

Cons

  • Commission charged for ECN trading account
  • Inactivity fee required

Trading Fees

Trading fees with JP Markets are relatively low, but you have to consider that you will be charged with a 10USD commission per lot. In addition, most of the spreads are variable that could start from 0.7 pips. On average, the EUR\USD spread is about 2 pips for the STP trading account, which shows how competitive the spreads are.

Non-Trading Fees

As for the non-trading fees of JP Markets, you will not be charged with a deposit or withdrawal fee. You will be charged with an inactivity fee and an account maintenance fee of 50USD every three months.

Leverage

For regular clients, you will find that the maximum leverage level is up to 1:500. As for professional clients, you will find that the maximum leverage level is up to 1:200.

Deposit Fees and Withdrawal Fees
Deposit Fees 0USD
Withdrawal Fees 0USD

 JP Markets Fees Compared To Competitors
JP Markets  HugosWay Plus500
Account Fee Yes No No
Inactivity Fee Yes No Yes
Deposit Fee 0USD 0USD 0USD
Withdrawal Fee 0USD 0USD 0USD

Account Opening

JP Markets offers two different types of trading accounts, depending on the client’s preference. You can choose between the STP trading account and the ECN trading account. Fortunately, you are not required a minimum deposit to open a JP Markets account.

This JP Markets review will give you a step-by-step guide on how to open a JP Markets live account.

Pros

  • No minimum deposit required
  • Flexible leverage levels
  • Copy Trading account available
  • Interest on available balance provided

Cons

  • None

Minimum Deposit

There is no minimum deposit required to trade with JP Markets

Account Types       

  • ECN Account
  • STP Account

JP Markets Accounts

Both trading accounts of JP Markets, the ECN Account, and the STP Account, are quite similar to one another. The main difference is that the ECN Account, or Electronic Communication Network Account, trades straight to the market. You will find that you are charged a commission of 10USD with the ECN Account while the commission of the STP Account is integrated into the spreads provided.

How To Open a JP Markets Trading Account

Follow these steps and you will be able to open your very own JP Markets live account!

 

JP Markets -1

Follow these steps and you will be able to open your very own JP Markets live account!

Deposit & Withdrawal

The deposits and withdrawals of JP Markets are fairly simple. You will not be required to pay a deposit or withdrawal fee. In addition, there are three different forms of payment methods you can fund your trading account with.

This JP Markets review will demonstrate the different payment methods offered.

Account Base Currencies

There is only one account base currency offered by JP Markets, which is the USD.

Deposits

With JP Markets, you will find that they do not require a deposit fee, which means you will not be charged every time you make a deposit. There are different ways to deposit funds into your trading account, from bank transfers to the electronic wallet. You will find that the deposit process is fast and can be processed up to 24 hours.

Pros

  • Various methods of deposit
  • No deposit fee
  • Fast deposit process
  • The low minimum withdrawal amount

Cons

  • Limited range of base currency

JP Markets Deposit Options

  • Bank Transfer
  • Credit\Debit Card
  • Electronic Payment

Withdrawal

With JP Markets, you will not have to pay a withdrawal fee either. You can withdraw funds from your accounts in the same methods of deposits, but the account has to be corresponding to your account information. However, you will find that the withdrawal process can be slow.

Pros

  • No withdrawal fee
  • Various withdrawal options
  • The low minimum withdrawal amount

Cons

  • Slow withdrawal process

JP Markets Withdrawal Options

  • Bank Transfer
  • Credit\Debit Card
  • Electronic Payment

Trading Platforms

JP Markets provides two types of trading platforms: MetaTrader4 and an in-house mobile application for JP Markets. MetaTrader4 is one of the most well-known trading platforms that are used by traders all over the world.

This JP Markets review will use MetaTrader4 as a model to analyze the features available for clients with JP Markets.

  • MetaTrader4
  • JP Markets Mobile Application

Web Trading Platform

The MetaTrader4 web trading platform that is provided by JP Markets is available for use in many languages, and you will find the platform easy to navigate through. There are more than 30 indicators that can be customized to your trading needs, on whatever operating system you own. Additionally, you will have access to five different pending order types, which are: Market, Limit, Stop, Good Till Cancelled (GTC), and Good Till Time (GTT). These order types are considered the order types needed in basic trading. You have the option of viewing your full portfolio and any past transactions that you have made, to keep updated on your performance. On the other hand, the MT4 web trading platform does not provide price alerts or notifications, and you will have to rely on the initial login process since there is no two-step verification process.

Pros

  • Available in several languages
  • Customizable indicators
  • Easy to navigate
  • Able to view the portfolio and past transactions
  • Available on all operating systems

Cons

  • No price alerts or notifications
  • No two-step login process for verification

Desktop Trading Platform

The MetaTrader4 desktop trading platform is similar to the web trading platform in many ways. With the desktop platform, you can customize more than 30 indicators any way you choose, in any language you want. You can download the MT4 desktop trading platform on any operating system and you can activate price alerts in the form of push notifications on your desktop. There are five pending order types that you can use to trade, which are: Market, Limit, Stop, Good Till Cancelled (GTC), Good Till Time (GTT). Additionally, you can view your past transactions and your full portfolio, so you can keep track on all your past performances. However, you will find the JP Markets MT4 desktop trading platform to be very outdated in design and it does not provide a two-step login process as a form of verification.

Pros

  • Available in different languages
  • Indicators can be customized
  • Access to your portfolio and past transactions
  • Downloadable on Mac and Windows
  • Price alerts and notifications are available

Cons

  • No two-step login process
  • Outdated design

Mobile Trading Platform

The JP Markets MT4 mobile trading platform is also similar to both the web trading platform and the desktop trading platform. However, this platform is better for users who prefer to trade on the go. You can use the five basic pending order types of Market, Limit, Stop, Good Till Canceled (GTC), and Good Till Time (GTT). As a mobile device user, you can download it on your iOS or Android device; the mobile application is compatible with both operating systems. There are over 30 indicators that be customized to your liking, and you will find that the design of the trading platform is very user friendly. You can activate price alerts as a push notification on your device, but you cannot use facial recognition or fingerprint recognition as a form of identification for logging in.

Pros

  • A wide selection of languages available
  • Customizable indicators provided
  • Price alerts and notifications are available
  • Downloadable on iOS and Android
  • User-friendly design

Cons

  • No facial or fingerprint recognition

Markets & Financial Instruments

JP Markets offers five different financial markets, including currency pairs and indices. You will be able to trade through five different financial asset classes and more than 50 financial instruments.

This JP Markets review will list the different financial markets that you will have access to trade.

What JP Markets Offers
Forex Metals
Indices Shares
Futures

Markets Research & Trading Tools

Trading Tools

JP Markets allows two different trading tools that will enable you to improve your trading strategies. You can use the social trading tool that will provide the option of interacting with other traders. Additionally, copy trading is a trading tool to copy trading solutions of other traders and apply it as your own.

This JP Markets review will provide you with the different trading tools available with JP Markets.

JP Markets Tools
Social Trading Copy Trading

Pros

  • Social trading allows interaction with other traders
  • Copy-trading enhances the different trading strategies

Cons

  • Limited trading tools

Market Research

JP Markets provides clients with different research materials that will enhance your trading knowledge. You will be able to look through the economic calendar for future and past economic events. In addition, you can use market outlooks and fundamental analysis for more in-depth technical data on the different financial markets.

Pros

  • Economic calendar updated daily
  • Market outlook updated weekly
  • Research materials available
  • Fundamental analysis provides technical data

Cons

  • None

 

Customer Service

JP Markets provides very helpful customer service methods that have a fast response and relevant answers to your questions. You can reach them via phone, live chat, WhatsApp, or email. However, they are not available 24\7 and do not operate during the weekend.

This JP Markets review will list the different means of communication that will allow you to reach the customer service team.

Pros

  • Different types of customer service
  • Fast response
  • Accurate and relevant answers
  • Available in multiple languages

Cons

  • Not available 24\7

Means Of Communication

    • Phone support
    • Live chat
    • Email support
    • WhatsApp

 

Client Education

JP Markets offers a variety of different educational resources with different educational tools. You will be able to read through how-to documents and online trading courses. Additionally, you will be able to watch video tutorials and look up trading definitions with the Trading Glossary. If you are more affiliated with a hands-on approach, the Demo Account is available for you to use without facing any financial exposure.

This JP Markets review will demonstrate how to open a Demo Account through a step-by-step guide.

Client Education Resources

  • Online trading courses
  • Research materials
  • Video tutorials
  • Demo Account
  • How-To Documents
  • Glossary

How To Open a Demo Account

You will first need to go into the Dashboard of the JP Markets website and select the option of “Open Account”. Once you choose the button of “Open a New Trading Account”, you can select your base currency and type of trading account for the Demo Account. Finally, enter your login credentials and get started with JP Markets.

 

Conclusion

JP Markets is a CFD and Forex trading broker that was established in 2016 and it was headquartered in Cape Town.  There are also operations of JP Markets in Swaziland, Kenya, Pakistan, and Bangladesh. JP Markets is currently regulated by the Financial Services Board of South Africa.

JP Markets is a legitimate Forex trading broker that is regulated by the Financial Services Board (FSB) of South Africa. This Forex trading broker stores client funds in segregated accounts away from corporate funds. JP Markets also provides negative balance protection to ensure the protection of the client funds in case of your balance in the negatives.

Overall, JP Markets is a safe and regulated Forex trading broker that is worth joining.

JP Markets

$0
Min. Deposit
100%
Bonus
Regulated byFSCA
Leverage1:500
Customer Support24/5
Open Account

JP Markets Overall Performance

  • Safety and Regulation 98% 98%
  • Deposit and Withdrawal 98% 98%
  • Market Research & Trading Tools 97% 97%
  • Broker Fees 98% 98%
  • Trading Platforms 97% 97%
  • Customer Service 99% 99%
  • Account Opening 98% 98%
  • Market & Financial Instruments 97% 97%
  • Client Education 99% 99%

Frequently Asked Questions

Is JP Markets A Good Broker?

JP Markets is a CFD and Forex trading broker that was established in 2016 and it was headquartered in Cape Town.  There are also operations of JP Markets in Swaziland, Kenya, Pakistan, and Bangladesh. JP Markets is currently regulated by the Financial Services Board of South Africa. JP Markets was founded in 2016 and it is currently headquartered in Cape Town with the aim of creating long-lasting trading relationships and trading capability, which will encourage traders from all over the world to reach their trading potential.

Is JP Markets Legit?

JP Markets is a legitimate Forex trading broker that is regulated by the Financial Services Board (FSB) of South Africa. This Forex trading broker stores client funds in segregated accounts away from corporate funds. JP Markets also provides negative balance protection to ensure the protection of the client funds in case your balance in the negatives.

How Long Do JP Markets Withdrawals Take?

JP Markets withdrawals take up to approximately 2 business days but could take longer.

What Is The Minimum Deposit For JP Markets?

There is no minimum deposit required to trade with JP Markets

Is JP Markets Regulated?

JP Markets is a registered Forex trading broker that is regulated by the Financial Services Board (FSB) of South Africa with the license of 46855.

Is JP Markets An ECN Broker?

Yes, JP Markets is an ECN broker.  

Is JP Markets Safe?

JP Markets is considered a safe Forex broker that is registered with the Financial Services Board (FSB) of South Africa. JP Markets offers negative balance protection to its clients and keeps client funds in segregated accounts.