JP Markets is a licensed Forex and CFD broker that is based in South Africa. JPMarkets.co.za offers negative balance protection, powerful trading platforms, state of art security for your money, zero commission fee, fast and reliable deposits and withdrawals, and friendly customer support. JP markets allows a reasonable amount of minimum deposit to start trading with variable spreads and leverages as high as 1:500. JP Markets offers trading in around 30 forex pairs, stock indices, oil, gold and OTHER CFDs on the widely used MetaTrader 4 platform. What’s more, PAMM services are also available with this broker.
- Min. deposit: R500
- Spread: from 2.4 on EURUSD
- Max. Leverage: up to 1:500
- Min. Trade Size: 0.01
Contents
IS JP MARKETS SAFE?
- JP Markets is considered safe, as it is regulated by top-tier financial authorities, like the Financial Service Board FSB , South Africa.
- We can confirm that JP Market is safe because it is authorized by the following tier-2 regulator: Financial Services Board (FSB), South Africa. FSB is in charge of the licensing process and supervision of forex brokerages like JP Markets in the country. Besides, the South African regulator has enforcement powers to deal with breaches through the enforcement committee, and runs a customer complaints service, the Office of the Ombud for Financial Services Providers.
- Locally licensed Forex brokers like JP Markets in South Africa are required to keep all client funds in segregated trust accounts in a recognized bank in the country.
- JP Markets is the trading name of the JP Markets SA (Pty) Ltd., set up in 2016, licensed and regulated by the Financial Services Board (FSB), South Africa, FSP 46855. JP Markets has offices across South Africa major cities. It also has set up in Kenya, Pakistan and Bangladesh.
Financial Regulation
Aforementioned, JP MAarkets is a regulated Forex broker which already makes it safe. There is no question as to the necessity of trading with a regulated broker. This can’t be emphasized enough. A regulatory authority assures the economic strength of Forex brokers like JP Markets and the integrity towards its traders. Without regulation, traders are left without any resource to back up the legality of the broker they are using.
Metatrader 4 Supported
MT4 offers all a trader needs: ease of use, numerous order types, a wide range of technical indicators, extensive back-testing and advanced charting package. The platform is especially valued for its autotrading capacities via Expert Advisors (EA) that allow users to fully automate their trades by and let the program do all the work.
Reasonable Minimum Deposit
The minimum initial deposit, required by JP Markets amounts to R3 500, which is a reasonable amount to start with.
High Leverages
The maximum leverage on all FX products, offered by JP Markets, is 1:500. Such leverage is considered comparatively high
Average Spreads & Commissions
JP Markets charges no commission fees, yet we find its spreads too wide to be competitive: averaged 2.4 pips on EUR/USD. Although fixed spreads are generally wider than floating ones
Promotions
JP Markets offers a number of different promotions:30% welcome on-deposit bonus granted for period of 60 days; 20% redeposit bonus; Rebate bonuses, happy hour bonuses, and other such-like.
JP Markets Advantages and Disadvantages
Pros
- FSB-regulated
- NDD execution
- MT4 available
- Bonuses available
Cons
- High spreads
- Scalping, hedging and EAs not allowed
- No choice of trading platforms
ABOUT JP MARKETS
JP Markets is a Forex and CFD broker that is owned and operated by the JP Markes SA (Pty) Ltd., licensed and regulated by the Financial Services Board, South Africa, FSP 46855. The company is located at Nelson Mandela Square, Maude Street, West Tower Floor 2, Gauteng 2146, K2016/123297/07.
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