JP Markets

JP Markets 2024 Broker Review

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Introduction To JP Markets

JP Markets is a Forex broker based in South Africa, established in 2016. It operates under the regulation of the Financial Services Board (FSB) in South Africa, ensuring a secure and regulated trading environment. The broker offers a range of financial markets, including Forex, Metals, Indices, Futures, and Shares based on Contracts for Difference (CFDs). The broker provides the MetaTrader 4 (MT4) platform and its proprietary mobile app, catering to both novice and experienced traders. JP Markets emphasizes the importance of trader education, understanding that informed traders are more likely to succeed.

However, JP Markets has faced criticism and negative feedback from traders, particularly in relation to spread conditions and issues with withdrawals. While it offers competitive trading conditions, some traders have reported unclear spread conditions and challenges in withdrawing funds. Despite these concerns, JP Markets remains a popular choice among traders in South Africa and elsewhere, partly due to its simple account setup, ECN trading options, and diverse range of trading instruments. The broker’s commitment to trader education and customer support adds to its appeal, although potential clients should take into account the reported issues before deciding to trade with JP Markets.

$0

Minimum Deposit

0.5 Pips

Spreads Starting From

Yes

Free Demo Account

No

Inactivity fee

Pros

ECN account option

In business since 2016

Regulated In South Africa

Cons

Lacking 24/7 Support

Unclear spread / fee structure

Review Video:

Coming soon!

JP Markets Quick Facts

Country Headquarters

South Africa

Instruments Offered

Forex, Metals, Indices, CFDs

Base Account Currency

USD, ZAR

Minimum Deposit

$0

Withdrawal Fee

$0

Account Verification Time

1 Business Day or Less

Deposit Options

Card, bank wire, Skrill, Bitcoin, Absa, Nedbank

Accepts crypto deposit

Yes

Trading Platforms

MetaTrader 4 & JPM Mobile App

Demo Accounts

Yes

VPS Offered

Yes

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Account Opening 4 / 5

Once the documents are submitted traders can expect to be verified and ready to trade shortly.

Commissions & Fees 3 / 5

Deposit and withdrawal 3 / 5

  • Peach
  • Ozow
  • Kora
  • SticPay
  • Neteller
  • Paystack
  • Skrill
  • Praxis

It is important to note again that the broker might charge fees to withdrawal money depending on which option is selected.

Trading Platforms 3 / 5

  • MetaTrader 4
  • JP Markets Mobile App

While MetaTrader 4 will likely cover most trader’s needs, it would be nice to see the broker add more trading platform options.

Customer Support 4 / 5

Other 2 / 5

  • Free demo account (live account not required)
  • Extensive education and learning material

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3.5 / 5

ForexBrokerTalk Final Score


JP Markets is regulated broker who’s been around for a few years. While they might not offer the best trading conditions, they are a great option for South African traders looking to use a local forex broker.