REVIEWS
JP Markets Review 2022
Reviewed
Tested
Safe
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 is a Forex broker, that was founded in 2016 and it is currently headquartered in Cape Town.
| 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 | Cons |
|---|---|
| • Regulated by the FSCA | • No 24\7 customer support |
| • Provides negative balance protection | • Slow withdrawal 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 |
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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 is in the negative.
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 | Cons |
|---|---|
| • Regulated by the Financial Services Board (FSB) of South Africa | • Not publicly traded in Stock Exchange |
| • Provides negative balance protection | |
| • Stores funds in segregated accounts | |
| • Offers Professional Indemnity insurance |
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 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.
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 | Cons |
|---|---|
| • Low non-trading fees | • Commission charged for ECN trading account |
| • No deposit or withdrawal fee | • Inactivity fee required |
| • Tight spreads provided |
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 | Cons |
|---|---|
| • No minimum deposit required | • None |
| • Flexible leverage levels | |
| • Copy Trading account available | |
| • Interest on available balance provided |
Minimum Deposit
There is no minimum deposit required to trade with JP Markets
Accounts 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 offers two different types of trading accounts, depending on the client’s preference.
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 | Cons |
|---|---|
| • Various methods of deposit | • Limited range of base currency |
| • No deposit fee | |
| • Fast deposit process | |
| • The low minimum withdrawal amount |
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 | Cons |
|---|---|
| • No withdrawal fee | • Slow withdrawal process |
| • Various withdrawal options | |
| • The low minimum withdrawal amount |
Oinvest Withdrawal Options
- Bank Transfer
- Credit\Debit Card
- Electronic Payment
The deposits and withdrawals of JP Markets are fairly simple.
Trading Platforms
This JP Markets review will use MetaTrader4 as a model to analyze the features available for clients with JP Markets.
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.
- 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 | Cons |
|---|---|
| • Available in several languages | • No price alerts or notifications |
| • Customizable indicators | • No two-step login process for verification |
| • Easy to navigate | |
| • Able to view the portfolio and past transactions | |
| • Available on all operating systems |
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 | Cons |
|---|---|
| • Available in different languages | • No two-step login process |
| • Indicators can be customized | • Outdated design |
| • Access to your portfolio and past transactions | |
| • Downloadable on Mac and Windows | |
| • Price alerts and notifications are available |
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 | Cons |
|---|---|
| • A wide selection of languages available | • No facial or fingerprint recognition |
| • Customizable indicators provided | |
| • Price alerts and notifications are available | |
| • Downloadable on iOS and Android | |
| • User-friendly design |
This JP Markets review will use MetaTrader4 as a model to analyze the features available for clients with JP Markets.
Markets & Financial Instruments
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 | Cons |
|---|---|
| • Social trading allows interaction with other traders | • Limited range of trading tools available |
| • 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 | Cons |
|---|---|
| • Economic calendar updated daily | • None |
| • Market outlook updated weekly | |
| • Research materials available | |
| • Fundamental analysis provides technical data |
JP Markets allows two different trading tools that will enable you to improve your trading strategies.
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 | Cons |
|---|---|
| • Different types of customer service | • Not available 24\7 |
| • Fast response | |
| • Accurate and relevant answers | |
| • Available in multiple languages |
Means Of Communication
- Phone support
- Live chat
- Email support
JP Markets provides very helpful customer service methods that have a fast response and relevant answers to your questions.
Client Education
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 is negative.
Overall, JP Markets is a safe and regulated Forex trading broker that is worth joining.
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.
Methodology
All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. We analyze more than 3000 data points across 8 key focus areas.
Our reviews are a combination of data research and working alongside the brokers. All information provided by the brokers are double-checked to guarantee 100% accuracy and that we remain unbiased.
2023 Review Methodology
For our 2022 Forex Broker Review, we assessed, rated, and ranked 45 international forex brokers over a three-month time period. Each broker was graded on 108 different variables and, in total, over 100,000 words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 0.1% each year, providing site visitors with quality data they can trust. Learn more about how we test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.
Chad Smith
Director of Research & Analysis
Chad Smith is the Director of Research & Analysis here at ForexBrokerListing.com.
Chad previously served as an Editor for a number of websites related to finance and trading, where he authored a significant number of published articles about trading and the impact of technology in transforming investing as we know it.
Overall, Chad is an active fintech and crypto industry researcher with more than 15 years of trading experience, and you can find him teaching his dog how to trade in his free time.