What is JustMarkets?
JustMarkets is an international forex and CFD broker that offers a wide range of trading services to retail and institutional traders. Launched in 2012, JustMarkets has expanded its reach globally, providing traders with access to forex, commodities, cryptocurrencies, and other financial instruments.
One of the key aspects of JustMarkets that attracts traders is its competitive trading conditions, including low spreads, high leverage, and a variety of account types. However, like with any broker, it’s important to assess its regulatory status, platform features, and the overall user experience.
In this comprehensive review, we will explore everything you need to know about JustMarkets, including its regulatory framework, trading platforms, available accounts, fees, and other essential features.
1. Is JustMarkets a Regulated Broker?
Regulation and Legal Compliance
JustMarkets is regulated by multiple financial authorities, but its regulatory status depends on the entity you’re trading with. While it’s important to note that JustMarkets has some level of regulation, it’s not as tightly regulated in major financial jurisdictions like the United States or the European Union.
Here’s a breakdown of JustMarkets’ main regulatory licenses:
A. Cyprus Securities and Exchange Commission (CySEC)
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Entity: JustMarkets Ltd
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License Number: 401/21
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Jurisdiction: European Union
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Protection: JustMarkets is fully regulated under CySEC, which offers strong investor protection, including segregated accounts for clients, negative balance protection, and an Investor Compensation Fund (ICF) up to €20,000.
CySEC is one of the most reputable regulators within the EU, providing solid regulatory oversight and client protection measures.
B. Seychelles Financial Services Authority (FSA)
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Entity: Just Global Markets Ltd
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License Number: SD088
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Jurisdiction: Seychelles (Offshore Regulation)
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Protection: While Seychelles FSA regulation offers basic oversight, it doesn’t provide the same level of investor protection as CySEC or other Tier-1 regulators. However, it allows for greater flexibility in terms of leverage.
The FSA regulation is typically used to attract traders who are comfortable with higher risk for the potential of greater leverage (up to 1:3000) and more flexible trading conditions.
C. Financial Sector Conduct Authority (FSCA)
This regulatory body covers certain jurisdictions and is often used for South African traders, providing a layer of oversight for local investors.
Tip: If you are located in a region where JustMarkets operates under the FSA or FSCA, it’s important to understand the level of protection available to you before proceeding with your investments.
2. JustMarkets Trading Platforms
MetaTrader 4 (MT4)
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Features: MetaTrader 4 is widely known as the most popular trading platform in the forex industry, offering tools for technical analysis, automated trading via Expert Advisors (EAs), and seamless order execution.
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Advantages: MT4 is user-friendly and flexible, allowing traders to implement diverse strategies. It’s ideal for both beginner and experienced traders.
MetaTrader 5 (MT5)
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Features: MT5 is the upgraded version of MT4, offering additional timeframes, more advanced charting tools, and the ability to trade a wider range of instruments (including stocks, commodities, and indices).
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Advantages: MT5 offers enhanced features, including a greater number of indicators and improved analytical tools for those who need more comprehensive analysis capabilities.
WebTrader and Mobile App
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WebTrader: JustMarkets offers a WebTrader platform for traders who prefer to access their account via a browser without needing to download any software.
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Mobile App: JustMarkets also provides mobile applications for both Android and iOS, ensuring that traders can stay connected and trade on-the-go.
3. Account Types and Trading Conditions
Account Types Offered by JustMarkets
JustMarkets provides several account types to accommodate different trader preferences:
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Micro Account: Ideal for beginners, with a low minimum deposit requirement and a range of basic features.
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Standard Account: Offers tighter spreads and more advanced features, suitable for experienced traders.
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ECN Account: For professional traders, this account provides the lowest spreads and direct market access.
Leverage and Margin
JustMarkets offers competitive leverage, ranging from 1:500 to 1:3000, depending on the account type and regulatory region. However, high leverage carries increased risk, and it’s important to use it responsibly.
Trading Instruments
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Forex: Over 30 currency pairs, including major, minor, and exotic pairs.
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Commodities: Gold, silver, and oil.
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Cryptocurrencies: Bitcoin, Ethereum, Litecoin, etc.
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Indices and Stocks: Access to global stock markets and indices.
Spreads and Commission
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Spreads: Starts from 0.6 pips on the ECN account.
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Commission: ECN accounts are commission-based, while Micro and Standard accounts do not charge a commission.
4. Deposit and Withdrawal Methods
Payment Methods Supported
JustMarkets offers multiple payment options for deposits and withdrawals, including:
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Credit/Debit Cards
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Bank Transfers
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E-wallets: Skrill, Neteller, and Perfect Money
Processing Time
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Deposits are typically processed instantly.
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Withdrawals can take between 1-3 business days, depending on the payment method chosen.
Fees
There are generally no fees for deposits or withdrawals, but certain payment providers may charge a fee for transactions.
5. Advantages of Trading with JustMarkets
A. High Leverage
JustMarkets offers high leverage, up to 1:3000, allowing traders to open larger positions with a smaller capital investment. This is particularly beneficial for traders in volatile markets.
B. Low Spread and Commission
With competitive spreads, especially on the ECN accounts, and the absence of commissions for certain accounts, JustMarkets offers cost-effective trading conditions.
C. Regulation and Investor Protection
Although its regulatory status may not be as stringent as some other brokers, CySEC regulation provides a level of investor protection, including compensation schemes and segregated accounts.
D. Educational Resources
JustMarkets offers educational materials like tutorials, webinars, and market analysis to help traders improve their trading skills.
6. Disadvantages of JustMarkets
A. Limited Regulation
While JustMarkets is regulated by CySEC, the FSA Seychelles regulation may not provide the same level of protection as regulators in major financial centers such as the UK or the US.
B. No US Clients
JustMarkets does not accept clients from the United States due to regulatory restrictions.
C. Limited Research Tools
Compared to some competitors, JustMarkets’ research tools and market analysis offerings could be considered somewhat limited. Traders may need to rely on third-party tools for in-depth market analysis.
7. Final Verdict: Is JustMarkets a Good Broker?
JustMarkets is a solid choice for traders looking for competitive spreads, high leverage, and variety in trading instruments. Its CySEC regulation offers adequate security, though some traders may prefer a broker with stronger oversight from Tier-1 regulators.
For those comfortable with offshore regulation or looking for a flexible trading environment, JustMarkets could be an excellent choice. However, always conduct thorough research to ensure that the broker meets your needs, especially when it comes to security and support.
FAQs
Q1: Is JustMarkets a regulated broker?
Yes, JustMarkets is regulated by CySEC and FSA Seychelles.
Q2: What leverage does JustMarkets offer?
JustMarkets offers leverage up to 1:3000, depending on the account type.
Q3: Can US traders use JustMarkets?
No, JustMarkets does not accept traders from the United States due to regulatory restrictions.
Q4: What are the deposit methods available with JustMarkets?
You can deposit funds using credit/debit cards, bank transfers, and e-wallets such as Skrill and Neteller.
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