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JP Markets Review 2024

JP Markets is an international broker for forex and CFDs that’s located in South Africa. Launched in 2016, JP Market is one of the best when it comes to understanding the financial market’s needs. JP markets have a great appreciation for its clients as it makes sure to invest in educational materials and content as it provides new investors and hence new accounts.

2.1
EXPERT SCORE
Poor
I reviewed JP Markets based on the following criteria.
COMMISSIONS AND FEES
28%
TRUST
30%
TRADABLE INSTRUMENTSS
15%
PLATFORMS & TOOLS
25%
CUSTOMER SERVICE
10%
PROS
CONS

JP Markets is a global Forex powerhouse. JP markets have grown due to excellent relationships with their clients. JP Markets started out as a small broker, with just a few people and a small office, but today the broker house has offices in multiple countries with several people working inside them.

JP Markets is a proudly South African broker and one of the biggest ones in the mother of mankind, where it has a presence in the cities of Johannesburg, Polokwane, Bloemfontein, Cape Town, and Pretoria, as well as an international presence in Eswatini, Kenya, Pakistan and Bangladesh.

JP Markets vision is to strive to be instrumental in the creation of at least 30 African-owned forex brokerages across Africa and to assist in the creation of 500 forex millionaires in the next 10 years.

When I look at their website,https://www.jpmarkets.co.za/, 30% of visitors are from South Africa. The company’s focus is on helping traders on a local level, providing clients with the personalized customer service and tools required for them to succeed in a fast-paced and exciting industry that can make them very wealthy.

At JP Markets, the strong belief in helping others and teaching these individuals how to become a success not only in business but in life is the operating mindset JP markets is working with. The company runs numerous projects designed to teach and assist individuals with a variety of subjects, from simple guidance on how to trade to topics as complex and intricate as how to start a successful forex brokerage.

Is JP Markets scam or safe broker? Is JP Markets regulated? Is JP Markets ECN or STP? What is the JP Markets minimum deposit? Is JP Markets suspended? How can you open a live account in jp markets? 

In this updated JP Markets review 2024, I will introduce all details about JP markets. If you are wondering about JP Markets minimum deposit, Jp Markets account types, regulation, spreads, leverage, JP Markets minimum withdrawal, platforms, and bonuses, you are in the right place to find them all.

What is JP Markets?

JP Markets is motivational, with multiple awards holder broker house that is making sure its no. 1 priority is to create long-lasting relations and connections with its clients by encouraging and boasting their knowledge as JP markets believe that a knowledgeable trader is a powerful one.

With awards like best forex broker, and fastest growing forex broker in South Africa in the year 2019. JP markets have also won the award of the most transparent forex broker by The European Magazine in 2019. There’s also the award of forex CEO of the year South Africa given by the international business magazine which was awarded to JP Markets CEO, Justin Paulsen in 2020.

Founded by a local entrepreneur who comprehensively understands international financial markets. JP markets try to establish long-term relationships and offer trading opportunities to local and global investors.

JP markets are making sure to keep segregated accounts for its customers separate from the operational corporate accounts and hence it makes sure the customers’ funds are safe and hence gains the trust of its traders.

Since JP Markets is regulated by the FSB ( the financial services board) of South Africa, it’s considered one of the trusted forex and CFDs brokers in the market. JP markets are offering negative balance protection on their accounts to their traders. Along with zero fees on the accounts, JP markets is making sure their message is delivered to their customers about their sincere care for the traders to prosper and grow in the market more than anything.

JP markets is providing quick and sufficient platforms for trading With high-performing and innovative technology, JP Markets platforms are fast and sufficient for your trading. There’s no lagging and the platforms don’t re-quote on orders. It’s as simple as what you want, you simply get.

Who is the Founder?

JP Markets founder Justin Paulsen is a South African economist who loves to deal with international finance. He studied Economics and Finance at the University of Cape Town Then he dived into the private banking sector. He became a leader in South African forex brokerage. He worked with Traders, Hedge Fund Managers, Asset Managers, Portfolio Managers, and Forex Traders. This is how JP Markets emerged.

He thought he could do this and he started his own business, he initially started JP Forex Investments, and he passed RE5 and RE1 exams. And all these things created JP Markets in the end.

Is JP Markets Suspended?

South Africa, one of the most developed countries in Africa, has substantial financial market potential. JP markets also want to be considered a reliable broker in this market in order to gain a place in this market. The regulator is not one of the most reputable in the world, but it still has a certain level of reliability.

Subject to a qualified standard of how JP markets operate, customers are protected by regulatory obligations that maintain trade security as well as other security rules related to money management and market integration.

In simple terms, legal obligations, which are subject to a qualified standard on how JP markets works, serve the trade conditions, as well as maintaining a number of other security rules specifically for money management and market integration. Thus, there is negative balance protection, while merchants’ segregation provides the highest level of security, it is accompanied by the protection of the interests of all customers.

There is a question that worries the clients about JP markets: Is JP Markets license suspended? The answer is No. The case was that JP Markets had the FSB markets in 2019 yet there was some gossip about some violations taking place in JP markets. Hence the FSB suspended the license. However, it turned out to be an error as the main domain address wasn’t operated by JP markets and so they regained the license again.

Account Types, Spreads and Leverage

Originating from JP markets understanding of the difference between traders and their styles, and hence the difference in their requirements based on their trading techniques. As a result, JP Markets offer different types of accounts structured to suit you as a trader. There are ZAR, USD, and GBP-based accounts, as well as accounts that charge you commission or an account that charges you spread as a cost.

All these accounts have direct market access and your order flows directly into the market, thereby ensuring you receive the best possible market price from the Forex market with no manipulation of prices, slippages, or lagging of any sort. JP Markets don’t differentiate between micro or mini accounts – you are free to trade all available pairs without restriction.

JP markets offer Jp Markets demo account so you can try the broker house first before going into the real world of forex and starting a Jp Markets real account with real funds and real risks.

JP markets offers its clients two account types which are:

JP Markets STP Standard account where you can find variable spreads, no commission fees, STP (Straight Through Processing) market execution, and leverage up to 1:500.

JP Markets ECN account which represents (Electronic Communications Network) account means that your orders are executed directly in the market. Traders benefit from lower spreads, but this account type charges as trades are executed. eg. spreads will reflect a charge of 1 pip on the platform and then a “commission” of $10 per standard lot on execution. The commission can be lower on VIP accounts.

The main difference between the two accounts is that on an ECN account, you will see a commission charged per transaction whereas, on a standard account, you will be charged on the spread.

The leverage in JP markets is 1:500 which is considered a high amount, that in itself is a double-edged weapon as it would provide higher profits but on the other hand, in case of any losses, they’d also be high. It is advisable to use leveraged traders with caution if you’re not sure about how to use it for your benefit, I advise you to try jp markets demo accounts first.

There are also PAMM services. JP markets do not have a strict minimum deposit. However, the recommended minimum deposit for JP markets is around R3000 which is around $200, particularly if you require training.

What is the difference between ECN and STP JP Markets Accounts?

An ECN account stands for electronic communication network. It means that your orders are executed directly in the market. The difference between ECN and STP accounts is that on an ECN account, you will see a commission charged per transaction whereas, on a standard account, you will be charged on the spread. Both accounts work out to similar in cost so it is all dependent on what you as a trader prefer.

The commission offered on the ECN accounts is $10 per lot. Which is considered a high amount in comparison to other brokers in the market with less or no commission at all. However, JP Markets offers average spreads within the STP accounts. On average you can get EUR/USD for about 2 pips. I think JP Markets’ spreads and commissions are a little higher compared to the other brokers.

What are the Fees?

A relatively low fee would be found with JP Markets, but the charge of $10 has to be considered as it’s a commission per lot. whereas, spreads are also applied as they can start from 0.7 pips. Basically, the average EUR/USD spread would be around 2 pips for the standard account. which is considered a high spread rate in comparison with other trading brokers.

These are the trading fees. whereas nontrading fees exist within JP markets where you won’t be charged withdrawal fees or any deposit fees. However, you’d be charged $50 every 3 months as an inactivity and account maintenance fee if your account isn’t active.

What is the Minimum Deposit?

Technically speaking, the JP Markets minimum deposit isn’t existing. However, JP markets recommend a deposit of around $200 in case of any training that would take place for new or interested investors. Some would see that amount as a bit higher than average as other brokers can offer minimum deposits of $100 or less. And so, that amount is a bit above average.

Trading Platforms

JP Markets MT4 (MetaTrader 4) is the main primary Forex trading platform used within JP markets. It is incredibly powerful, customization for advanced users through the MQ4 programming language and comes with everything you need to start trading immediately. the platform’s costs are all coved and it’s provided for trading free of charge to JP Markets clients so you don’t pay a cent to use this amazing software.

JP markets MT4 terminal features an advanced charting package, trading and analysis tools, alerts, signals, and customizable indicators. MT4 allows you to see the marketplace you are dealing with.

You can use the JP markets login to enter your MT4 account and start trading. It is at the top right of the site called JP Markets client login. If you are a partner of the company you will enter as a partner near the client login.

Trading Instruments

As a leading broker when it comes to customer care for their need and providing what they want, JP Markets is making sure to make all products available for trading on its platform for different techniques of trading followed by professional investors.

JP Markets provide Forex, metals, futures, indices, and shares CFDs, along with gold and oil. Which can be traded on MT4 since it’s the only trading platform available provided by JP markets.

You can enter and trade the markets manually or automatically with Copy Trader or Copy Master accounts. This means that with just a simple order copy, you can profit from the main accounts and the transaction without any information or deduction. Or, as a Master Trader, to gain extra exposure to the markets and management of larger capitals.

JP Markets Bonuses and Promotions

200% Deposit Bonus: JP Markets is proud to introduce a first in the market and have a 200% deposit bonus AKA jp markets welcome bonus. No tiers, no scaling, just a massive 200% bonus on ALL deposits up to R280 000 or USD equivalent.

Note that the bonus is applied to any deposits completed via the mobile app or the online portal. So make sure to download the app to benefit from the bonus.

The bonuses are applied automatically, they will be allocated to your trading account upon the transfer of your deposit. This bonus structure will allow clients to claim a bonus on profits by transferring the funds from their trading account to their wallet – the bonus will be allocated based on the transferred total and not the original deposit amount.

Even though JP Markets provide a welcome bonus, a no-deposit bonus was absent from JP Markets’ information that was viewed on their official website.

There are terms and conditions you can see on their website. The second one is earning interest. The interest rate of approx. 7.2% per annum allocated weekly, means you’re earning interest like a savings account. You can see the details on their website.

An important note for traders who seek to benefit from the bonus is that the bonus does not get included in your margin calculation. Your margin is based on your balance and what is deposited. Also, note that your platform will show a higher % as this is a setting in Metaquotes. Please be aware that the Margin reflecting on your account will not be accurate as you need to base it on your balance. You can only lose your balance.

The last one is JPM Card. You can be a VIP MasterCard Client by taking the card. Unfortunately, JP Markets’ no deposit bonus is not available. Your bonuses are earned and you receive 5 dollars per lot. E.g: if you receive a bonus of $50, you need to trade 10 lots in order to earn the full $50 bonus which you can then withdraw.

Deposit and Withdrawal Methods

JP Markets withdrawal and deposit methods are limited. JP Markets offers an adequate variety of funding and withdrawal means yet they’re not quite enough specially in such ever-growing and expanding markets like the forex and CFDs market. JP Markets’ offers the possibility to send withdrawal requests via WhatsApp, which is not seen on other platforms.

For deposits or withdrawals, there were no charges mentioned by JP Markets on their official website. However, due to international rules and regulations, some fees might occur in the case of international bank payments. So I recommend making sure to check the terms and conditions of your payment method and also any fees that would be applied from a third party during the fund transfer process.

JP Markets deposits gateways are:

  • Mastercard
  • Mastercard Secure code
  • Visa
  • Verified by Visa
  • DPO South Africa
  • Skrill
  • airtel money
  • Bonga
  • Eazzypay
  • eLipa
  • m-pesa
  • Neteller
  • ozow

Funding can also take place via using Bitcoins yet it can only be through Skrill where all you need to do is fund your Skrill wallet using Bitcoin and use this intermediary to fund your JP Markets trading account.

Withdrawals are paid from JP Markets bank accounts to yours within 4hrs after approval, usually from the same bank. The notable exception is Capitec as they do not offer business bank accounts. These withdrawals are therefore regrettably delayed by the banking system which is unfortunately outside of the broker’s control.

Withdrawals take approximately 24 hours. Withdrawals can be made on official working days from 09:00 to 17:00. There is no possibility to withdraw money on weekends and holidays. Before making a withdrawal request, for example, scanned copies of your identity, bank statements, and proof of address are required.

Customer Services

JP Markets is very proud of its customer support which in fact is very effective in assisting with any queries that come to mind. This section of this JP markets review will show further information regarding the ways and means of support you can obtain with JP Markets.

Customer Support is one of JP Markets’ most prized positions – what makes JP Markets different? Call, Email or Chat and you’ll find the assistance you need. The consultants are happy to help you with any request.

There’s a whole section for complaint handling as the broker takes these complaints very seriously. In case of complaints, you should contact Jp Markets Customer Services Department at +27(0) 87 828 0576 or email support@jpmarkets.co.za, as the vast majority of complaints can be dealt with at this level.

If Customer Services is unable to resolve the matter you may refer to it as a complaint to Jp Markets Compliance Department. Please set out the complaint clearly, ideally in writing. The Compliance Department will carry out an impartial review of the complaint with a view to understanding what did or did not happen and to assess whether they have acted fairly within their rights and have met their contractual and other obligations. A full written response will be provided within six weeks of receiving the complaint.

A live chat option is available on JP Markets’ website however there were some clients’ comments that there were late to no replies which were found misleading to some. The official headquarters Contact details: Black River Office Park 2 fir Street Observatory, Cape Town Gatehouse Building, 2nd Floor.

What is Jp Markets WhatsApp number? As of now, you can contact them at +27 71 559 9457
What is Jp Markets Office Telephone Number? Their tel number is +27 010 590 1250
What is Jp Markets Email Address? It is support@jpmarkets.co.za
What is Jp Markets Facebook Page? Its link is www.facebook.com/jpmarketssa

Investors need to be sure that JP Markets they choose will provide support and assistance as needed, to help them easily find the exact answers to their customers’ questions and provide them with the best user experience. Phone calls, e-mail, online chat, and Whatsapp are the options.

Relative and quality answers were the main purpose behind establishing JP Market’s customer service. And as there are multiple ways to get in touch with JP Markets, I’d advise you to be careful of wrong or misleading information.

Conclusion of JP Markets Review 2024

JP Markets is a proudly South African broker that makes sure to put their client’s knowledge at a high level of importance at the company’s level. Huge educational materials and online courses are provided on the broker’s website and a respectable record of consistency is provided in providing managed forex and trading materials.

This JP Markets Review 2024 has shown the limited number of account types along with the trading platforms make JP Markets a great gap between other brokers in the market in terms of trading conditions and platforms. In order to open a live account JP markets you’ll need to register to the platform offered by JP markets and choose your conditions and start trading.

There’s no actual JP Markets minimum deposit amount however JP Markets recommends starting with around $200 in case of forex training is needed. JP markets demo accounts are not an offered option to the clients trading with JP Markets which represents a great disadvantage as the demo accounts offered the perfect chance for traders to try out strategies and test knowledge before getting into the real markets of forex and CFDs.

JP Markets was regulated by FSB and then got suspended due to a false accusation and its regulation was reissued. Hence, currently, JP Markets is regulated by FSB under regulation number 46855.

Despite the incident with the license and the suspension, JP Markets is always improving their trading conditions for a better trading experience. Always seeking growth and expansion, JP Markets is making sure to show its progress through the award that had been won and mentioned in a very clear and delightful way on its website. Yet the website itself is very lacking in terms of the presented information. Not all details that traders would look for can be found easily , some information are even abcent entirely. That was another reason JP Markets got a low rating throughout this JP markets review 2024.

For personal trials of the market, I recommend visiting Jp Markets Login Page when logging into the page.

What is JP Markets?

JP Markets is an international online broker that began operations in 2016. Founded by South African entrepreneur Justin Paulsen, the company has grown to have offices in various countries. JP Markets offers trading opportunities in Forex, metals, and other instruments on an STP basis, aiming to establish long-term relationships with local and global investors.

Who is the Founder of JP Markets?

JP Markets founder Justin Paulsen is a South African economist with a background in Economics and Finance from the University of Cape Town. After working in the private banking sector, he became a leader in the South African forex brokerage industry. His experience with various financial professionals led to the establishment of JP Markets.

What is the difference between ECN and STP JP Markets Accounts?

The difference between ECN and STP JP Markets accounts lies in the fee structure. The ECN account incurs a commission per transaction, while the STP account charges on the spread. Both accounts have similar costs, and the choice depends on the trader’s preference. JP Markets offers competitive spreads, with the EUR/USD averaging around 2 pips.

What are JP Markets Fees?

JP Markets’ fees include variable spreads, with an average of 2 pips for the EUR/USD on the STP account. The ECN account incurs a $10 commission per lot, making it a better option for professionals. However, the spreads offered by JP Markets may be higher compared to other brokers, potentially affecting the overall cost of trading.

What is the Minimum Deposit For JP Markets?

JP Markets requires a minimum deposit of R3,000 (around $200), which is relatively higher than the average minimum deposit in the forex market. While the industry standard is typically $100, JP Markets’ minimum deposit is twice that amount. The broker also offers limited withdrawal and deposit methods, with the option to send requests via WhatsApp.

What is JP Markets WhatsApp Number?

As of now, you can contact JP Markets via WhatsApp at +27 71 559 9457.

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jp markets review
Rating: 2.1