JP Markets Review

Overall Rating

5/5

Top 5 Forex Brokers
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Avatrade
2.
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Tickmill

 JP Markets Review

📅 Year founded

2016

📈 Multiple top-tier regulation

Yes

📍 Headquarters

Cape Town, South Africa

🌍 Country of regulation

South Africa

✅ Regulators

FSCA

📈 Execution Type

Market Execution

💰 Minimum Deposit

R100 ZAR

🛡️ Negative Balance Protection

Yes

📉 Trading Platforms

MetaTrader5

 ☪  Islamic account

Yes

📉 Trading Instruments

Forex / Metals / Indices / Commodities / Shares

📱 Mobile trading

iOS / Android / Windows

💳 Payment Types Accepted

Credit and Debit Cards / Bank Wire Transfer / Peach Payments / OZOW / Kora / Sticpay / Neteller / Paystack / Skrill / Praxis

🎮 Demo Account

Yes

 ⓒ Copy Trading

Coming soon

🎁 Bonus Offer

Deposit bonus up to 300%

💰 Account Currencies

USD / ZAR

📈 Minimum Trade

0.01 Lots

📈 Account Types

ECN / STP

📈 Margin Trading

Yes

📈 Trading fees

Low

📈 Inactivity fee

No

💰 Withdrawal fee

No

☎ Customer Support

E-mail / WhatsApp / Landline (hours unknown)

💰 Max. Leverage

2 000:1

✔️ Hedging Allowed

No

✔️ Scalping Allowed

No

💰 Commission

$3.0 USD on VIP Account / Zero on other account types

💰 Spreads

From 0.5 pips

💰 Leverage

Flexible

💰 Currency Pairs (Total Forex pairs)  
🔢 Number of clients

400 000 +

🥇 Instruments Offered  
📙 Education

Available once signed up as a client

Click here ✅ Open a Trading Account

 

WHAT IS JP MARKETS?

 

Found in 2016, JP Markets is a respectable forex and CFD brokerage firm with its headquarters located in Cape Town, South Africa. This online broker is regulated by the FSCA, South Africa.

At JP Markets, clients can trade a range of trading instruments such as forex, metals, indices, commodities and shares.

The broker also offers the world renowned MetaTrader5 (MT5) platform to its customers.

 

INTRODUCTION

 

A powerful broker with high standards, JP Markets is an elite part of the forex industry. One thing that sets them apart is their attention to quality – they seek it out as ruthlessly as their clients do. JP Markets provides a versatile number of services and values that are all based around united business practices.

JP Markets is regulated and licensed by the FSCA in South Africa.

JP Markets began as a small office operation, as most brokerages have. Today, they are one of the largest brokerages in the world, despite only being founded in 2016.

From the beginning, JP Markets has spent a great deal of time focusing on their clients and giving them the best customer service possible. This ended up working out in their favour, as this is what has helped them grow so expansively throughout the years. While customers of other brokerage companies complain that brokers will sometimes trade against their best interests, customers of JP Markets have never had that issue.

There is no doubt that JP Markets is one of the strongest and most highly trusted brokerages on the market today. Naturally, they are a favourite by traders looking to be represented in their brokers.

This company offers any and all services that a trader could need, including:

  • Instant deposits and withdrawals.
  • MetaTrader5.
  • STP and ECN account availability.
  • Secure server choices.
  • Cryptocurrency trading.
  • JP Markets App for custom trading.

 

In addition, JP Markets offers clear and concise communication with all of its customers to ensure that trading is done fairly.

 

PROS & CONS

 

Before going into a further review about JP Markets, a quick glance at the biggest advantages and disadvantages of this brokerage can help traders make the best choice when considering which broker to invest in.

 

PROS

  • Same-day deposits.
  • Multiple online payment portals available.
  • Consistent bonuses and promotional offers.
  • Protection against negative balances.
  • Extremely low spreads.
  • South Africa FSCA and FSP regulated.
  • Beneficial interest rates on trading accounts.
  • MT5 trading platform.
  • ZAR and USD available as base currencies.
  • Good customer support.
  • Multiple global industry awards.

 

CONS

  • Customer support is not available 24/7.
  • Not a large number of trading platforms available.
  • Some traders have bad experiences with their withdrawals.
  • Cannot use hedging, scalping or EAs.

 

Below, you’ll find a complete review of JP Markets and the qualities that make them a big contender on today’s market.

 

TRADING INSTRUMENTS

 

What kind of trading instruments are available through JP Markets? There are quite a few tradable instruments to take advantage of, namely forex, metals, indices, commodities and shares . A quick rundown of each instrument can help incoming clients choose their method of success.

 

Forex

The most common trading instrument is forex, also called FX or currency trading. This is a marketplace where people and organisations can exchange currencies and receive currencies at different rates.

 

Indices

Stock indices refer to the stock market indexes on the market. These are popular measurements of a company’s value, or the value of each stock in that company. If you want to invest in some of the biggest companies in the country, you can take a look at indices.

 

Commodities

Different commodities can be traded at different values. Commodities are some of the most traded items in the history of the free market and are a great way to diversify your portfolio.

 

Metals (Gold / Silver) and Oil

You can always trade precious metal and earth resources on the market. Hard commodities always play a role in modern trading markets and you never know when the value of oil, gold or silver is going to rise up.

 

TRADING PLATFORMS

 

One reason why JP Markets always stays on top is that it allows customers to trade through MetaTrader5 (MT5). MT5 trading has become incredibly popular due to its dynamic features. By and large, MT5 is considered the gold standard of all trading spaces.

MT5 is easy to use because it supports transactions through all popular platforms, including:

  • Forex.
  • Metals.
  • Indices.
  • Commodities.
  • Shares.

 

MT5 makes it easy to buy and sell different currencies. In fact, there are a handful of included base currencies with MT5 including EUR, SGD and PLN on top of the standard currencies available.

 

ACCOUNT TYPES

 

JP Markets offers a wide range of account types to its clients, in fact, it is one of the widest offerings available in the industry. Let’s take a look at what is offered through this company when you open an account.

 

Currency

Traders have the option to use a base currency of either USD or ZAR.

 

Market Access

All accounts through JP Markets have direct market access. You can flow your orders in real-time to always get the best prices available. JP Markets pulls from the forex market with no lag time or price gouging.

 

Standard Vs ECN

This broker allows clients to make a standard account or an ECN account. Also known as electronic communications network accounts, ECN accounts charges clients a commission per each transaction as opposed to standards accounts which charge clients via the spread. The following account types are available on JP Markets:

  • Standard Account.
  • Premium Account.
  • VIP Account.
  • Islamic Account.
  • Draw Down Bonus Account.
  • Zero Stop Out Account.

 

HOW TO OPEN AN ACCOUNT

 

Opening an account with JP Markets is fairly easy and straightforward. For all available accounts, the following steps are necessary:

  1. First, clients need to complete the sign-up form. They’ll be asked to provide an email address and verify their account through that email.
  2. Clients will then be asked to provide certain documents to prove their identity where they might have to give them a copy of:
    1. ID card.
    2. Proof of residence (utility bills, rental agreements, mortgage statements, telephone bills, TV licenses, bank statements etc).
    3. Bank details.

Those who are hesitant to sign up and provide all of that information can make use of the new demo account provided by JP Markets.

 

DEMO ACCOUNT

 

Clients won’t be able to make trades using real money when they have a demo account, but they can use virtual cash and simulate real market data to get the hang of things before investing. The demo account simulates everything from the current trade conditions to live market leverage so clients will see exactly how it works.

Opening a demo account is fairly straightforward:

  1. On the Dashboard, click the “My Trading Account” tab. Underneath, you should find “Open Account”. Click that to go to the next page.
  2. Choose “Open New Trading Account”.
  3. Select your currency and select between an STP or ECN account and click “Demo”.
  4. Make up a secure login and password and verify your account.

 

SOCIAL TRADING AND COPY TRADING

 

Currently, JP Markets does not offer any forms of social or copy trading, however they do state on their website that such features will be available to their clients soon.

 

COMMISSIONS & FEES

 

Commissions are one of the most critical components of JP Markets’ success. Commissions are slightly different between ECN and STP accounts, so let’s take a look at them both in more detail.

 

ECN (VIP) Account Commissions

You’ll be charged $3.00 USD per lot for commission on this account, but it does give traders access to lower spreads.

Depending on the account that you have and the type of regulating entity it is attached to, you might be faced with different types of fees. Your place and country of residence can really have an impact on what you’ll be charged.

Everyone can opt for an ECN account, but it is especially encouraged for professional traders.

 

STP Commissions

On all other account types offered by this broker, there are no commissions charged. However, spreads are slightly higher, starting from 1.0 pip on the Premium Account.

 

LEVERAGE

 

For the vast majority of professionals who use JP Markets on a daily basis, they are offered maximum leverage of 2 000:1. However, this varies per market and per instrument used.

These high ratio leverages are allowed under local jurisdictions, making JP Markets one of the most popular options in all of Southern Africa. You should still double-check all of your trading conditions for the best ratios before you start placing trades.

 

WITHDRAWALS AND DEPOSITS

 

There are too many reports of brokers not paying their clients on time. Or maybe some brokers have been unable to pay their clients’ withdrawals due to their own financial situation not being in order. However, with JP Markets, this has never been a problem as they always put their customers’ needs first and will always focus on fast and efficient withdrawals.

 

Is there a minimum deposit?

The required minimum deposit at JP Markets is R100 ZAR, which is just over $5 USD, making this one of the lowest minimum deposits required, and thus, JP Markets is one of the most accessible brokers in the industry.

 

Is Bitcoin investment available?

You can make deposits through Bitcoin or your Skrill wallet.

 

Is there a deposit turnaround time?

Again, JP Markets tries to be quick. Most deposits are instantly allocated to your bank account. Most transactions are still manual, however, and might take a little bit of time to show up, depending on the deposit method used.

 

What reference number is used to make a deposit?

When you sign up with JP Markets you are also using MT5, so you will be assigned an MT5 account number. This is the same number you should use when depositing funds into your account. If there are any issues, the customer service team is available to help with your account.

 

How are accounts funded?

You can actually make local deposits through your bank to JP Markets, setting them apart from other brokers.

 

Withdrawals

You can request a withdrawal through a simple process. JP Markets allows you to process withdrawals Monday through Friday from 9 am to 5 pm GMT. The broker may call you to confirm that you requested the withdrawal and that will help it process faster.

 

How long do withdrawals take to reflect in an account?

Within 4 hours of approving the withdrawal, you should see the money leave your JP Markets account and enter your bank account. It should be noted that Capitec is an exception, as their withdrawals take much longer to process.

 

What is the turnaround time for withdrawals?

You can expect to receive a withdrawal immediately after requesting it. As long as you have spoken to a JP Markets representative and filled out the proper documentation, you can expect payment quickly.

 

Can bonuses be withdrawn?

You earn all of your promotions and bonuses. They are connected to lots at $5 USD per lot. You can determine how many lots you need to trade in order to collect your bonus.

 

CUSTOMER SERVICE

 

There are many components of a great brokerage and customer service is one of the most important. Without the ability to pay attention to customers or help them make smart investments, a brokerage is putting both the clients’ and their own financial stake at risk.

JP Markets is all about communication and helpfulness. The team at JP Markets will try to help clients however and whenever they can, although they do not provide 24/7 support. Clients will have to make sure to pay attention to the time zone they are in to see when someone is available to speak to.

During open hours, JP Markets has a live online chat available. Clients can connect directly with an agent and have their questions answered right away. You’ll also be able to text them through WhatsApp or through SMS text messaging. A phone support line is available during open hours as well.

If you need to contact JP Markets right away, you can reach them at the following:

SOUTH AFRICA OFFICE TELEPHONE: +27 010-590-1250

EMAIL ADDRESS: support@jpmarkets.co.za

FACEBOOK: www.facebook.com/jpmarketssa

It is part of the JP Markets mission statement to provide helpful and high-quality answers to any customer questions. Whether you decide to contact the team through live chat or through a forum post, there are is always help available.

 

SAFETY AND SECURITY

 

JP Markets is well regulated within South Africa, complying to FSCA and various South African laws. The broker is a registered Financial Services Provider (FSP) and to our knowledge here at Brokersuggest.com, JP Markets have never run into any trouble with regulatory bodies or their clients.

 

PROMOTIONS

 

Currently, JP Markets offer a deposit bonus up to 300% when clients make a minimum deposit of R100 ZAR. Further details of this offer can be found on their website here.

 

RESEARCH

 

The experts at JP Markets might not give you a direct link to important research, but they will set you up with the tools and training you need to be able to find the research on your own. They will help you learn how to research an investment before you pour your own money into it.

JP Markets will try to stop you from losing money however possible by telling you how you can use your research skills to gain proper education on the topic. As an account holder, you will be able to access world-class education about specific market activity.

You can sign up for email alerts or even SMS text message alerts that will notify you about the newest pairs, glossaries, forex calendars or tutorial documents that are available.

 

EDUCATION

 

The strong focus on customer prosperity has made JP Markets a powerhouse in education. In fact, this broker is a leader in providing knowledge and resources to all types of investors. JP Markets can teach people how to have success through their business endeavours and life choices.

JP Markets has a community of both experts and peers who can answer questions related to trading basics, complex brokerage tips, forex investing and big projects. Those who want to have one-on-one conversations with a pro can schedule seminars or even sign up for mentoring.

There are face-to-face opportunities to introduce clients to bigger opportunities. You can even connect with outside sources of education by starting through the JP Markets community.

Free training is available once you sign up as a member of JP Markets. You can participate in scheduled online courses to better your knowledge about the trading world, helping you make smarter decisions when it comes time to buy or sell. This is just one way that JP Markets continues to look out for its clients, no matter if they are individuals or organisations.

 

GLOBAL AWARDS

 

The fact that JP Market is the recipient of global awards is a boost to its legitimacy. It continues to be one of the most sought-after brokerages in South Africa and beyond.

The most recent awards won by JP Markets include:

  • Global Forex Newcomer of the Year (2020) – Forex.
  • South Africa’s Best Broker (2019) – International Finance.
  • South Africa’s Best Broker (2019) – Global Business Outlook.
  • South Africa’s Fastest Growing Broker (2019) – International Business Magazine.

 

Over the past few years, JP Markets has continued to grow in number and in legitimacy, making it a budding choice for beginners and experienced investors alike.

 

SAFE OR SCAM?

 

JP Markets is a regulated entity and an authorised FSP 46855. Some of the organisations that regulate them include the Financial Services Board, SARB, the FICA Act and the FSCA.

Your funds are completely safe and secured while you are trading on JP Markets. You actually have your own segregated account that is monitored by professionals and registered with a third-party so its protection has many layers of foolhardiness. You can also invest in account insurance which will protect you in the event of a risk.

There are many regulatory obligations that JP Markets must comply with as well, making it one of the safest places to start trading. It is an international service that deals with finances, making it compliant with some global safety laws in addition to South African laws.

Another benefit of JP Markets is that it is not just regulated in South Africa. It can support ZAR along with other currencies throughout Africa, making it a good choice for people in many different countries.

Clients are able to communicate with JP Markets pros throughout this process for better peace of mind that their investments are secure. These pros will also be transparent in the event that your account has been compromised.

 

CONCLUSION

 

JP Markets is a growing brokerage that has gained both national and international trust in the financial industry. There are easy, competitive and fair trading conditions with account opportunities that are easy to set up. There are plenty of opportunities for beginners and veterans alike who are looking to get a good handle on their investment portfolio.

While diverse in its investment and education opportunities, JP Markets does not offer a lot of different account types. For now, you can only use the MT5 platform, although there are many instruments and currencies available within MT5.

Overall, JP Markets is a trustworthy and well-known brokerage within South Africa. You can use it for national or international trade deals and there are more and more currency types being added every day.

JP Markets is unique by offering educational opportunities for their clients. Free webinars, individual mentoring, forum conversations and live chats are available to help traders get the answers they need.

It is a great forex broker if you are looking to start out. With free research materials, you can get the hang of trading on these markets. MT5 is a high-quality space that will also help you through your trading experience. You might want to try out a demo account before you fully register, though. Ultimately, the choice is yours to make but Brokersuggest.com can highly recommend JP Markets as a great brokerage.

 

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