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What is JustMarkets？
JustMarkets is a Cyprus-based forex broker, regulated by CYSEC and FSA (Offshore), offering a range of trading instruments, including forex, metals, energies, indices, and shares. They offer two account types with competitive spreads, a maximum leverage of up to 1:300 for professional clients, and multiple deposit and withdrawal options with low fees. The platform available for trading is the popular MetaTrader5, and they also provide a range of educational resources.
In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.
Pros & Cons
JustMarkets presents a well-rounded trading environment highlighted by its robust educational offerings that cater to both new and experienced traders with resources such as Forex Articles, Educational Videos, and a detailed Forex Glossary. The platforms adoption of MT5 across multiple devices along with a proprietary trading app ensures that users have access to powerful trading tools and a flexible trading experience. Competitive trading conditions are another significant advantage, featuring low spreads and various account types that can meet diverse trader needs effectively.
However, JustMarkets does have some limitations; notably, its services are not available to residents of the USA, France, Belgium, or those outside the EU, which significantly narrows the potential client base. Additionally, there are some user exposure of scam and unable to withdraw.
Overall, JustMarkets offers solid features for forex trading but may not be suitable for potential traders from restricted countries.
Is JustMarkets Legit？
JustMarkets is a legitimate forex broker, holding multiple regulatory licenses that enhance its credibility within the financial trading community. The broker is licensed by the Cyprus Securities and Exchange Commission (CySEC) under an STP (Straight Through Processing) license, which ensures transparency in order execution.
Additionally, JustMarkets holds an offshore regulated Retail Forex License from the Seychelles Financial Services Authority(FSA) and an exceeded Financial Service Corporate license from the Financial Sector Conduct Authority (FSCA) in South Africa.
These regulatory frameworks suggest a level of oversight and compliance with international financial standards.
Furthermore, JustMarkets commits to high security measures including data transfer protection, protection from negative balance, adherence to international security standards, a multilevel system of services, and robust data storage protection.
These features collectively support the legitimacy of JustMarkets as a comparably secure platform for trading in the forex market.
Market Instruments
JustMarkets offers over 100 tradable instruments, including currency pairs, precious metals, energies, indices, and shares. However, popular cryptos are not available here.
Account Types
JustMarkets offers two primary live trading accounts tailored to meet different trading preferences: the Pro and Raw Spread accounts. Both accounts require a minimum deposit of $100, making them accessible to a broad range of traders. The accepted currencies for these accounts include USD, EUR, GBP, and PLN, providing flexibility in terms of currency choice. Notably, both the Pro and Raw Spread accounts are swap-free, which is particularly advantageous for traders who adhere to Islamic finance principles, as these accounts comply with Sharia law by not involving interest.
Additionally, JustMarkets accommodates all types of traders by offering both demo accounts for beginners or those looking to practice their strategies without financial risk, and Islamic accounts for those requiring compliance with Islamic financial regulations.
Leverage
In terms of leverage, JustMarkets offers up to 1:30 for retail clients and 1:300 for professional clients. While high leverage can increase the potential for profits, it also significantly increases the risk of losses. Traders should be careful when using high leverage and consider their risk tolerance, trading strategy, and financial situation. It's important to note that some regulatory bodies restrict the use of high leverage, so traders should check the regulations in their country or region.
Spreads & Commissions
JustMarkets offers competitive spreads and commissions that vary depending on the account type chosen by the trader. For those opting for the Pro account, spreads start as low as 0.1 pips, and no commission is charged, making it an attractive option for traders who prefer spread-only trading costs. In contrast, the Raw Spread account offers spreads from as low as 0 pips, appealing to traders looking for near-zero spreads, but it does include a commission of 3 units of the base currency per lot per side. This structure is particularly beneficial for high-volume traders who can benefit from tighter spreads while managing cost through commissions.
Additionally, spreads vary across different currency pairs to accommodate market conditions and trading strategies; for instance, the EUR/USD pair has a very tight spread of only 0.1 pips, while more volatile pairs like XAU/USD have higher spreads up to 0.8 pips.
Trading Platform
JustMarkets provides a comprehensive suite of trading platforms to cater to the needs of modern traders, ensuring accessibility and functionality across various devices. The broker supports MetaTrader 5 (MT5), a highly regarded platform available for PC, which is favored for its advanced technical analysis tools, algorithmic trading capabilities, and multi-asset trading features.
Additionally, JustMarkets ensures on-the-go trading convenience by offering MT5 for Android and iOS devices, allowing traders to manage their accounts and trade directly from their smartphones or tablets.
For those who prefer browser-based trading without the need for downloads, JustMarkets provides MT5Webtrader, which offers the same robust functionality as the desktop version directly in a web browser.
Moreover, JustMarkets has developed its own proprietary trading app, further enhancing the trading experience with a user-friendly interface and integrated trading tools designed to meet the specific needs of JustMarkets clientele.
Deposits & Withdrawals
JustMarkets offers a versatile range of payment methods to accommodate the diverse preferences of its clients, including MasterCard, Visa, Google Pay, Bank Transfer, Skrill, Neteller, and PayPal.
The platform supports multiple currencies: EUR, USD, and GBP are available for transactions made via MasterCard, Visa, and Google Pay; EUR and USD are accepted for Bank Transfers; and an expanded choice of EUR, USD, GBP, and PLN is available for payments through Skrill, Neteller, and PayPal.
The minimum deposit requirement varies: €100 for Bank Transfers and a more accessible €10 for other payment methods. Similarly, the minimum withdrawal amount is set at €50 for Bank Transfers and as low as €1 for other methods.
In terms of processing times, Bank Transfers take approximately 1 day for deposits to be processed, whereas other payment methods offer instant deposit processing. Withdrawals are notably swift across all payment options with a processing time of 1-2 hours.
Educational Resources
JustMarkets is dedicated to empowering its clients with a comprehensive array of educational resources, designed to enhance their trading knowledge and skills. The broker provides an extensive selection of Forex Articles that delve into various aspects of trading, along with a detailed Forex Glossary that helps traders familiarize themselves with common and complex trading terms. Additionally, JustMarkets offers Educational Videos which serve as visual guides to better understand trading strategies, market analysis, and the mechanics of forex trading. For those interested in currency specifics, there is information available about different Currencies, enriching traders' understanding of global financial markets.
Beyond these resources, JustMarkets maintains a robust FAQ section addressing General Questions, Trading Practices, Trading Platforms, and Forex Terminology. This educational suite is tailored to support both novice and experienced traders in navigating the forex market more effectively.
Customer Service
JustMarkets is committed to providing exceptional customer support, ensuring that clients can receive assistance through multiple channels. Clients can contact the support team via live chat for instant help with any queries or issues they may encounter. Additionally, JustMarkets offers a phone support line at +357 25 351 514 and a fax number +357 25 351 519 for more traditional methods of communication. For detailed inquiries or support needs that require thorough documentation, clients can email the support team at support@justmarkets.eu.
Furthermore, JustMarkets maintains a social media presence on Facebook, allowing clients to stay updated and engage with the platform through social channels. The company's physical office is located at 13&15 Grigori Afxentiou street, IDE IOANNOU COURT, office 102, Mesa Geitonia, Limassol, Cyprus, providing an address for direct mail and visits. This comprehensive customer support system highlights JustMarkets dedication to providing accessible and responsive service to its global clientele.
Conclusion
In conclusion, for both beginners and experienced traders, JustMarkets offers various forex products and account types. Trading with minimal slippage and re-quotes is possible with STP execution for clients. MetaTrader 5, offered by JustMarkets, is an improved trading platform with a user-friendly interface and better charting capabilities. Additional helpfulness comes from educational materials and first-rate customer service. The advantages exceed the disadvantages, which include user exposure to issues and regional limitations. Put simply, JustMarkets is an excellent broker to consider.
Frequently Asked Questions (FAQs)
What trading platforms are available at JustMarkets？
MetaTrader5 and its own proprietary trading app.
What is the minimum deposit requirement at JustMarkets？
$100.
Is JustMarkets a regulated broker？
Yes. JustMarkets is regulated by the FSA (offshore) and CYSEC.
At JustMarkets, are there any regional restrictions？
Yes. JustMarkets does not provide services to the USA, France, Belgium and non-EU residents.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
2024-12-20 14:50
