JustMarkets

Overall, because of the lack of regulatory oversight and the difficulty of withdrawing funds, we do not recommend JustMarkets. If you are looking for a good broker, look at some of our top brokers instead.

Regulation: Founded in 2012, JustMarkets was unregulated for almost 10 years, having briefly held a licence from the IFSC (Belize) in 2013.

The company is now licensed with the FSA of Seychelles, through which Deutsche traders are onboarded. While the FSA does regulate brokers, it is not considered a strict regulator and only requires that brokers demonstrate $50,000 in operating capital. Importantly, Deutsche traders will have few options for resolution if they end up in a dispute with JustMarkets. 

Safety Features: According to its website, JustMarkets segregates all funds from the company’s operating capital and offers negative balance protection to all its clients.

The account-opening and verification process at JustMarkets is seamless, fully digital and accounts are ready for trading immediately. 

All Deutsche residents are eligible to open an account at JustMarkets, as long as they meet the following minimum deposit requirements:

• MT4 Standard Cent Account: 1 USD
• MT4 Standard Account: 1 USD
• MT4 Pro Account: 100 USD
• MT4 Raw Spread Account: 100 USD
• MT5 Standard Account: 1 USD
• MT5 Pro Account: 100 USD
• MT5 Raw Spread Account: 100 USD

1. From the JustMarkets homepage, you will have to click on the ‘Registration’ tab where you will be directed to register an account with a name, email address, and password.
2. Next traders will have to complete a profile with their name, telephone number, and date of birth.
3. Traders can then deposit funds into their accounts and begin trading.
4. In order to use the full range of services available at JustMarkets and to be able to withdraw funds, JustMarkets requires the following documents:
   • Identification – High-resolution scanned copies or photos of an identity document, which verifies your person with a full name, photo, signature, date of birth, expiration date that are clearly visible and which is valid for at least 6 months from the moment of applying.
   • Address of Residence – High-resolution scanned copies or photos of a document where your full name and address are clearly visible and match the data indicated in your profile. The document should be issued no later than 3 months ago.
   • Credit Card – Credit Cards verification is not required for CUP (China Union Pay) cards. Please note: card verification is required only if you want to use Visa/MasterCard as a deposit and withdrawal method. 

Overall, JustMarkets’ account-opening process is fully digital and hassle-free and accounts are ready for trading immediately.

JustMarkets’ range of financial instruments for CFD trading, including Forex, share CFDs, indices, futures, cryptocurrencies, and commodities.

JustMarkets’s accounts have minimum deposits ranging between 1 and 100 USD, making them accessible to most traders. Spreads start at 1 pip (EUR/USD) on its entry-level accounts, which is reasonable, and tighten to 0.6 pips on its Pro Accounts, which is low for the industry.

JustMarkets’ trading costs are average compared to other brokers. The ongoing costs on the Standard Accounts are slightly higher than other brokers, but the minimum deposits are negligible. The ongoing trading costs on the Pro Accounts are lower than average, but the minimum deposits are higher but still in line with what beginners would be happy to pay.

We opened and tested JustMarkets’ accounts:

For ease of reading, we have grouped the MT4/MT5 accounts together, as the trading conditions are similar, however they are separate accounts.

MT4 Standard Cent Account

The MT4 Standard Cent account is designed for traders-beginners. On this account, trading is denominated in US Cents. The minimum deposit is 1 USD, leverage is up to 1000:1, spreads are average- starting at 0.9 pips – and no commission is charged. Note that lots are measured as 1,000 USD, and minimum transaction orders are 0.01 cent lots.

MT4/MT5 Standard Accounts

The minimum deposit on the Standard Account is 1 USD. Leverage is high on this account, up to 3000:1, spreads start at 1 pip on the EUR/USD, which is wider than other brokers, no commissions are charged, and the minimum transaction is 0.01 lots.

MT4/MT5 Pro Accounts

The minimum deposit on the Pro Accounts is 100 USD. Spreads start at 0.6 pips (EUR/USD), which is tighter than other brokers, leverage is 3000:1, and accounts can be denominated in 11 currencies. Pro accounts are commission-free and the minimum order is 0.01 lots.

MT4/MT5 Raw Spread Accounts

Raw Spread accounts are ECN accounts, on which a commission is charged – 3 USD per lot/side. The minimum deposit on this account is 100 USD, leverage is 3000:1, spreads start at 0 pips, and accounts can be denominated in 11 currencies. These trading costs are also much lower than other brokers.

Demo Accounts

JustMarkets allows traders to test their strategies by opening a free demo account. Demo trading is a simulation of real Forex trading. Traders are given a virtual currency balance of 5,000,000 USD and an unlimited time to gain experience on the MetaTrader platforms, using all account options without the risk of losing real money. 

JustMarkets’ mobile trading platforms are average compared to other similar brokers. It offers mobile versions of MT4 and MT5 but no in-house mobile trading solutions

JustMarkets offers support for MetaTrader 4 and MetaTrader 5 mobile trading apps for Android and iOS. Traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced time frames and fewer charting options, but traders can close and modify existing orders, calculate profit and loss, and trade on the charts. 

JustMarkets’ trading platform support is average compared to other brokers

JustMarkets offers support for the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms on both Android and iOS. As the most widely used platforms on the market, they are simple to navigate yet offer a powerful range of features, charts, and analysis tools. MetaTrader allows immediate and accurate access to international financial markets and delivers feature-rich, user-friendly interfaces designed to fulfill all trading needs and boost trading performance.

MetaTrader 4

MetaTrader 4 was developed in 2005 and is still considered one of the best trading platforms on the Forex market. MT4 allows one to make money on Forex with a consistent and useful interface. It supports indicators, expert advisers, and other tools for real-time market analysis. One can also create instruments and share them with other traders. Other features of MT4 include:

• Four types of order execution, including Market, Limit, Stop, and Trailing Stop orders.
• Superior charting tools in nine timeframes
• 30 technical indicators
• 23 analytical objects
• Algorithmic trading, which allows any trading strategy to be formalised and implemented as an Expert Advisor. 
• Backtesting capabilities
• Dedicated customer support

MetaTrader 5

MetaTrader 5 is the latest trading platform developed by MetaQuotes Software Corp. Set to replace MT4, MT5 is more intuitive and offers significant improvements in copy trading, mobile trading, and other innovative features that make trading account management more efficient. Other features of MT5 include:

• 38 technical indicators
• 44 graphical objects
• 21 timeframes
• One-click trading
• Built-in depth of market widgets
• Economic calendar.

Overall, although JustMarkets only offers the MetaTrader suite of platforms, which are not as beginner-friendly as the proprietary platforms offered at other brokers, MT4 and MT5 are considered some of the best third-party platforms in the industry.

Although JustMarkets is unregulated, it states that all Anti-Money Laundering rules and regulations are followed. Deposits can only be made using a bank account or card registered in the trader’s name, and no third-party deposits are allowed. Withdrawals must be made to the same account or method that the funds originated. 

JustMarkets does not charge deposit or withdrawal fees except on cryptocurrencies. Most deposits are instant, and JustMarkets takes one to two hours to process withdrawals during business hours.

While JustMarkets offers a huge range of trading account currencies, the MT4 Standard Cent Account is only denominated in US cents. The other six trading accounts are denominated in 11 currencies, including USD, EUR, GBP, JPY, MYR, IDR, THB, VND, KWD, CNY, and ZAR. This is a huge range compared to other similar brokers.

JustMarkets offers support for a social trading platform, MAM accounts, and a VPS hosting service. Other brokers also offer additional tools such as Trading Central or Autochartist to help traders make better trading decisions.

Social Trading

Social trading is a service that allows investors to follow the trading strategy and copy the trades of professionals, also known as signal providers. JustMarkets provides a list of signal providers that are rated based on various criteria: trading period, maximum drawdowns, best trades, profit factor. Top-ranked signal providers are displayed first in the list.

Usually, the actions of experienced Forex traders are used as a guide for beginners. It reduces the time for market research and analytics before trading on Forex. Social trading is useful for traders without time for training or making independent investment decisions. 

MQL5 Signals is a product from the developers of MetaTrader 4, which allows followers to copy the signals of successful traders and copy their transactions directly from the MetaTrader terminal. 

MAM Accounts

JustMarkets offers an account management service to its clients, allowing account managers to trade on their behalf. Multi Account Manager (MAM) is the software that allows fund managers, money managers, and portfolio managers to manage multiple trading accounts simultaneously with one trading account.

The MAM software provides all the features of the regular MT4 platform, including the usage of charting packages and expert advisors. All processing is centralized and server-based, hundreds of accounts can be traded with one click, and there is virtually no delay in allocations.

ForexVPS

JustMarkets recommends using a VPS service provided by Vultr.com. Traders will have to contact the VPS provider directly to find out the costs associated with using the service.

VPS services ensure that trades are never disrupted by technological or connectivity issues, such as load-shedding or internet service failure. This benefits algorithmic traders who need to be connected to a server 24/7 to maximise uptime. Other benefits of the VPS service include:

• 24/6 VPS email support
• 24/7 Redundant power to your VPS
• 24/7 Redundant internet connectivity to your VPS
• Low latency connectivity to FP Markets trading servers for precision trading
• Uninterrupted EA trading. 

JustMarkets provides an up-to-date Market Overview, Market News, and technical analysis, as well as daily forecasts and an economic calendar.

JustMarkets’ in-house team of analysts provides updates on various market events. These materials are updated daily and are freely available to all visitors to the site.

Traders receive multiple updates throughout the trading day, including brief fundamental summaries, technical trading alerts, and cryptocurrency analysis. Some content is text-only, and the rest includes charts and trading ideas.

JustMarkets also offers an economic calendar, a comprehensive log of all scheduled macroeconomic releases.

JustMarkets provides beginner traders with various educational materials, including training webinars, educational videos, a glossary of terms, and an array of articles.

Forex Articles: JustMarkets offers many articles, and while the quality of the content is decent, it is difficult to find what you are looking for.

Educational videos: JustMarkets’ videos comprise 5 short tutorials on using the MetaTrader platforms.

Training webinars: Although it states that it offers webinars, traders can only find an archive of previous webinars linked to JustMarkets’ YouTube channel. There are no future webinars scheduled.

JustMarkets offers support in five different languages: English, Malaysian, Indonesian, Russian and Chinese. Help is available 24/7 (only in English) and during business hours for Indonesian and Malay via telephone, email, messenger, and live chat. JustMarkets also offers a call-back option.