JustMarkets Review
Review Summary
JustMarkets offers a flexible trading environment with low minimum deposits, high-leverage options, and a variety of trading instruments through the popular MetaTrader platforms. While it provides competitive spreads and 24/7 customer support, its limited regulation by the Seychelles FSA and high leverage risks may be concerns for some traders.
If you’re looking for a reliable broker to start your trading journey, JustMarkets might be on your radar. This JustMarkets review aims to give you an in-depth analysis of JustMarkets, exploring its features, strengths, and weaknesses. We’ll also cover various aspects that traders care about most, such as account types, trading platforms, customer support, and more.
JustMarkets Overview
JustMarkets (formerly known as JustForex) is an international forex and CFD broker offering a wide range of trading instruments. It is operated by JFG Global Limited, a company registered in Seychelles, and is regulated by the Financial Services Authority (FSA) of Seychelles.
The broker has been in operation for several years, providing trading services to both beginner and experienced traders. With a focus on offering flexible trading conditions, JustMarkets has built a reputation for being user-friendly and accessible.
Key Features of JustMarkets
1. Wide Range of Assets
JustMarkets offers a wide range of trading instruments, including:
- Forex: Major, minor, and exotic currency pairs.
- Commodities: Gold, silver, and oil.
- Indices: Global indices like NASDAQ, S&P 500.
- Stocks: Popular shares from major companies.
- Cryptocurrencies: Bitcoin, Ethereum, and more.
This variety allows traders to diversify their portfolios.
2. Multiple Account Types
JustMarkets offers several account types to cater to different trading styles and experience levels:
- Standard Account: Suitable for beginner traders with lower minimum deposits and competitive spreads.
- Pro Account: Designed for experienced traders, offering tighter spreads and faster execution.
- Raw Spread Account: Provides raw spreads directly from the market, but charges a small commission per trade.
- Cent Account: Perfect for those who want to trade with smaller amounts of money or test strategies.
This range of accounts ensures that JustMarkets can accommodate all types of traders.
3. Low Minimum Deposit
One of the main attractions of JustMarkets is its low minimum deposit requirement. You can start trading with as little as $1 in a Cent account, making it an attractive option for new traders who want to get a feel for the market without risking too much money.
4. Leverage Options
JustMarkets offers leverage up to 1:3000, which is one of the highest in the industry. However, while high leverage can amplify profits, it also increases risks. Make sure you’re aware of this before using high leverage in your trades.
5. Trading Platforms
JustMarkets provides access to the widely-used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Both are known for their user-friendly interfaces, powerful trading tools, and support for automated trading via Expert Advisors (EAs).
These platforms are available on desktop, web, and mobile versions, allowing you to trade from anywhere at any time.
6. Educational Resources
JustMarkets provides a wealth of educational resources to help traders improve their skills. They offer trading tutorials, webinars, and market analysis to help beginners understand the forex market and improve their strategies.
7. Customer Support
Customer service is available 24/7 via live chat, email, and phone. The support team is known for being responsive and helpful, especially for beginner traders who may need assistance with account setup or platform navigation.
Pros of Using JustMarkets
| Pros | Cons |
|---|---|
| Low minimum deposit ($1) | Limited regulation (regulated by FSA Seychelles) |
| High leverage options (up to 1:3000) | No proprietary trading platform (uses MetaTrader) |
| Wide range of trading instruments (Forex, stocks, cryptos, etc.) | High leverage can be risky for beginners |
| MetaTrader 4 & 5 support | No robust regulatory oversight like FCA or SEC |
| 24/7 customer support | Limited educational tools for advanced traders |
| Islamic (swap-free) accounts available | Withdrawals may take up to 5 days with some methods |
| Competitive spreads and fees | Restricted in some countries (like the US) |
| Variety of payment methods (including cryptocurrencies) |
- Low minimum deposit makes it accessible for beginners.
- High leverage options for experienced traders.
- Wide range of trading instruments including forex, stocks, and cryptocurrencies.
- Access to the powerful MetaTrader 4 and 5 platforms.
- 24/7 customer support for global users.
- Offers Islamic (swap-free) accounts for traders who follow Sharia law.
Cons of JustMarkets
- Limited regulation: JustMarkets is regulated only by the FSA of Seychelles, which is not as strict as some other financial authorities.
- No proprietary trading platform: JustMarkets relies on MetaTrader platforms but does not offer its own in-house trading platform.
- High leverage risks: While the high leverage can be an advantage, it also presents significant risks for inexperienced traders.
Safety and Regulation
JustMarkets is regulated by the Seychelles Financial Services Authority (FSA). While this regulation provides some level of protection, it’s not as robust as the regulations enforced by authorities like the UK’s Financial Conduct Authority (FCA) or the US’s Securities and Exchange Commission (SEC).
Still, JustMarkets has been operating for several years and has built a solid reputation for being a reliable broker.
Fees and Commissions
JustMarkets offers competitive spreads across its account types. For Standard Accounts, spreads start at around 0.3 pips. The Raw Spread accounts offer even tighter spreads but charge a small commission. Additionally, there are no hidden fees, and deposits and withdrawals are usually free, although third-party payment processors may impose charges.
How to Open an Account with JustMarkets
Opening an account with JustMarkets is straightforward. Here’s a quick step-by-step guide:
- Sign Up: Visit the official JustMarkets website and complete the registration form.
- Verify Your Identity: You will need to submit identification documents such as a passport or driver’s license to verify your account.
- Deposit Funds: Once your account is verified, you can deposit funds using various methods like credit cards, e-wallets, or bank transfers.
- Start Trading: After funding your account, you can access the trading platform and start placing trades.
Payment Methods
JustMarkets supports a variety of payment methods, including:
- Credit/Debit Cards (Visa, MasterCard)
- Bank Transfers
- E-Wallets (Skrill, Neteller)
- Cryptocurrencies (Bitcoin, Ethereum)
Deposits are generally processed quickly, with most methods being instant. Withdrawals can take up to 24 hours for e-wallets and up to 5 days for bank transfers.
Final Verdict
In summary, JustMarkets offers a solid trading experience for both beginners and experienced traders. The broker’s low deposit requirements, high leverage options, and support for MetaTrader platforms make it a flexible choice. However, the fact that it is regulated only by the FSA of Seychelles might be a concern for traders who prioritize strong regulatory oversight.
If you’re just starting in forex trading or are an experienced trader looking for flexible conditions, JustMarkets could be a great fit. However, always consider the risks, especially when using high leverage.
