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JP Markets Review – is jpmarkets.co.za scam or good forex broker?
RECOMMENDED FOREX BROKERS
|Account type||Minimum deposit||Minimum trade size||Maximum leverage||Spread|
|Standard||R3 500||0.01||1:500||2.4 pips on EUR/USD|
JP Markets offers its clients a single account type with variable spreads, no commission frees, leverage up to 1:500 and STP market execution. What is more, PAMM services are also available with this broker.
Keep in mind that scalping, hedging and use of automated strategies (EAs) is not allowed with JP Markets.
The Company. Security of Funds
JP Markets SA (Pty) Ltd.
JP Markets offers trading in around 30 forex pairs, stock indices, oil, gold and OTHER CFDs on the widely used MetaTrader 4 platform. The company behind the brand, JP Markets SA (Pty) Ltd. is licensed and regulated by the Financial Services Board (FSB), South Africa, FSP 46855. The broker also has presence in Kenya, Pakistan and Bangladesh.
Lately South Africa is seen as a financial market with great potential, as it is one of the most developed countries in Africa. FSB is in charge of the licensing process and supervision of forex brokerages in the country. Besides, the South African regulator has enforcement powers to deal with breaches through the enforcement committee, and runs a customer complaints service, the Office of the Ombud for Financial Services Providers.
Although regulation in South Africa is not among the strictest and most reputable ones, it provides a certain level of reliability. Locally licensed brokers are required to keep all client funds in segregated trust accounts in a recognized bank in the country.
Minimum Initial Deposit
The minimum initial deposit, required by JP Markets amounts to R3 500, which is a reasonable amount to start with. Other South African brokers, such as Blackstone Futures require more (R5 000).
Average Spreads & Commissions
JP Markets charges no commission fees, yet we find its spreads too wide to be competitive: averaged 2.4 pips on EUR/USD. Although fixed spreads are generally wider than floating ones, Blackstone Futures offers spreads fixed at 1 pips for EUR/USD. For more information, you may look up real-time spreads of 15 leading brokers here.
The maximum leverage on all FX products, offered by JP Markets, is 1:500. Such leverage is considered comparatively high, although a number of brokers offer similar or higher leverage rates.
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Traders, however, should be careful, for higher leverage involves greater risk. That is why limitations on leverage rates are set in many jurisdictions.
This broker supports the popular MetaTrader 4 (MT4) platform. MT4 offers all a trader needs: ease of use, numerous order types, a wide range of technical indicators, extensive back-testing and advanced charting package. The platform is especially valued for its autotrading capacities via Expert Advisors (EA) that allow users to fully automate their trades by and let the program do all the work. Unfortunately, JP Markets does not allow automated strategies.
JP Markets offers a number of different promotions:
-30% welcome on-deposit bonus granted for period of 60 days;
-20% redeposit bonus-
-Rebate bonuses, happy hour bonuses, and other such-like.
Methods of Payment
Clients of JP Markets can make deposits and withdrawals from and to their accounts via credit/debit cards, bank and wire transfer, Skrill, Neteller and Bitcoin.
JP Markets is a duly regulated forex and CFD South African broker that supports the robust MT4 platform. Unfortunately, its spreads are high and besides, it imposes many trading restrictions. In a nutshell, here are the Pros & Cons with regards to this broker:
|NDD execution||Scalping, hedging and EAs not allowed|
|MT4 available||No choice of trading platforms|
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
Traders` reviews for JP Markets
Guys just report them to the FSCA to suspend their license. They wonвЂ™t be able to operate and the fraud will be investigated. They are a registered FSP and have to adhere to the law. They not above the law. https://www.fsca.co.za/Pages/Contact-Us.aspx
Disabling Trades Early
Why ist that JP Markets likes it when they chew our money?? This is not fair at all.
You disabling Trades before time because we got a strategy on chewing the market it’s Bull what you doing for reall. I am very pissed let us chew this market for God sake. A pissed client.
I’ts simply the best!
I see people complaining and everything but I never experienced any of these negative things they are saying.
I’ve been with JP Markets for a year now I’ve never had any problems with it.
It’s the best, these negative comments are old JP Markets has improved alot
Deposit take from bank but doesn’t show on jp acc
I desposited money in my account and it’s hasn’t apeared I’m really upset because that’s my money that I earned and was willing on using on your platform so why do theses things please help
Seems to be horrible
I already them before I join them. A smell a big scam here.
Hello JP markets I have made a deposit and it is not reflecting on JP markets account and I do not know what to do
I have deposited money from JP markets today and I got a prove from my account that I have deposited money from my account to JP markets but still It doesnt appear on my JP markets app profile. I can’t trade now because I don’t have money so please fix your services and i want my refund back please
Scammed by jp
jp Market is automatically closing my trades
I have a problem with my account I don’t know why it’s writing investor instead of real account and I need help.i don’t know what an investor means
I opened an account and sent all documents that are needed to get password to login on the real account but no i did no get it.
Hi i can’t seem to login to my account anymore it says my password or logging details are wrong please assist.
What confuses me is that when i change the password it directs me to the other website that doesn’t have the wallet option, the last link that i registered on still uses that old password even after I’ve tried changed it. I want to do a withdrawal but it say my password is wrong
Why u doing this to us . u’re the broker we trust but now we disappointed please fix the depositing problems coz we can’t make money if our money stucked on ur systems
I Can’t trade on my platform because I can’t login it’s keep on saying authorization failed
I am struggling to open a trade
Good day.. I have signed up with JP Markets and I am struggling to open a trade. When i try to open a trade it just loading forever then says time out. What is it that I should do??
JP Markets sucks
People please take note:
Ive seen it all with this broke ass broker
No money reflected
I deposited money into my account on the 7th of October, but nothing
I was withdrawing money from jp markets to my FNB account but the money is not yet there
Just when your trade is doing well, the server loses connection and you are not able to make changes to your trade.
Worse broker, don’t respond to emails, or phone calls. Think twice before you consider using JP Markets
Hi JP Market l have made an deposit on Friday but still my funds are not yet reflected and I’ve tried to contact the head office but no response.
Scammers – $501 just vanished
These people are scammers. My $501 just vanished from my account. I have been sending them messages for weeks and know one even responds to my mails.stay away from them guys.
poor services and they do not care about their clients [worst broker ever]
I recently deposited R200 into JP markets, the money was deducted from my bank account and it does not reflect on my wallet. I have sent a lot of emails but still no reply,so if you don’t want to lose your money, do not use JP markets.
Did their license get to be suspended?
I am not enjoying their FXGO platform, it freeses. And now I read that their license was suspended too
I tried to withdraw my money for 1 week, but till nothing. and they don’t take care their clients, they don’t give answer to their clients.
Complaining about undelivered funds
I made a withdrawal on the 1st of October but up to this time I didn’t get anything and I’m trying to submit the FICA documents your members area doesn’t have the option to do so.
Can we please get a leverage of 1:800/1:1000.
Worst worst broker – criminals
JP has recently claimed to be updating their trading platform and gave an alternative platform to trade on (FXGO), opened orders and they went into profit and all of the sudden I couldn’t log in again on that platform when I wanted to close my orders until they were in a loss then I could login. And now that my orders were in a loss I could login anytime I wanted and smoothly with no connection problems. JP MARKET in not to be trusted AT ALL
Worst broker ever
They always claim to be updating their mt4 platform. Now mt4 can open and the alternative platform they even provided is not working. Meanwhile I have a lot of trades in and no platform to even close them. They are criminals. People should be careful with them.
It’s about your service i deposited on 5th of August but till now the monney that i deposited not appearing on mt4 account
This broker doesn’t wanna view my balance on my metatrader4 app and i deposited money on Saturday but ii cant have access to trade bcuz my balance says 00.00 and ii dedeposited money. Its now boring trust me its not fair
I deposited R400 into my account but l have not yet received a response. I have a payment notification but alas me. Please credit my account with R400.
they work like snails or try to be shady
you will deposit money(23usd) and it wont reflect in your wallet but the money was already cleared off my bank account to make it worse i cant march to their offices i live in a forein country so i have to live a pile of emails @support and @hloni account manager but no reply its been 2 weeks now. be catious
The brokers app needs a serious upgrade. Because everything takes its own time to be done. Account balance not showing when wanting to trade
This poor broker is becoming nuisance now. I’ve opened an acc with them last week and I’ve uploaded my Documents but still my account ain’t verified yet and I sent them an email several times but they never respond me even on whatsApp. And for now I can’t even withdraw my founds they tell me about account verification but while I sent Documents several times this company is becoming bad company fooook mane fooook fokk
Worst worst broker ever
I have used this broker but am so much disappointed with their responsiveness. None is intrested in offering services to you. Its so easy to deposit money but sooooooo difficult to withdraw. They put the online chat but none attends to it. You can write a million emails but none responds to any.
Market maker, super wide spreads
They are okay most of the time just but aim to screw you over at times. I’ve had a recent issue where they created a ridiculous spread(stop hunting) of over 700000 on usdrub, yes 700000. I would not have noticed if it hit my SL but went way passed and blew my account. I have complained to them and waiting for them to resolve the issue.
The worst broker ever, what a nightmare
The worst broker ever. They are not to be trusted at all.
Their signals are so bad they blew my account !
Never ever even buy signals from them. These people dont know what they are doing. I bought their signal service at the price of R3500 for a month. Iv never had a winning trade. All they did was give me signals they blew my account. NEVER BUY ANYTHING FROM THEM OR PAY FOR ANY SORT OF SERVICES. THANK YOU.
Deposit is not reflected
I’ve deposited 8$ into my trading account but th
JP Markets withdrawal nightmare
What a nightmare JP Markets is! I have 200 dollars in my account, and have been trying to make a withdrawal for the last 5 months now. I changed bank accounts, and now they can’t seem to add my new bank account. I have send out many emails to customer care, which have never been answered. I have provided all documentations needed in order to make this change. It has been a nightmare ever since. It seems I will never see my money again.
Just one thing left to say: Don’t ever waste your money here!
I see bad reviews
Guys everyone that has bad news about this poor broker should
funds not reflecting on my account
i think jp markets is one of the Crappiest brokers that you ca ever find. On the 7th August 2020 I deposited $26 dollars into my wallet up until now the 13th August 2020 it has not yet reflected on my account but it has been deducted fro my bank account. I have left countless messages with theirt support. They dont even have the decency to reply to me. to some people $26 might sound like pocket change but its my money.I will never ever deposit any amount of money into JP markets
Deposit not approved
I have Deposited 14$ and 10$ into my JP Markets account and the money wad deducted from my bank account but it does not show on my JP Market wallet.
Having a problem
I’m not against the broker I like the broker I just need help with my funds they are no longer in my trading account
WTF is happening here
I want to open an account here , but when i read the complains ,, i rather not, so i need to know whats going on here ?
Im having serious problems my money was deducted from my bank account and its been 3 weeks ago still im getting no help
Deposit problems and bad support line
I made a deposit to my JPM wallet yesterday but up until now the funds don’t reflect on the wallet, I tried contacting them on WhatsApp but they aren’t responding to my messages. Their “[email protected]” email address doesn’t work, I tried sending several emails but they don’t get delivered. it’s horrible
Worst Customer Service
I would not recommend this broker. Though their concept of having a wallet linked to your bank account seems awesome. Their customer service is the worst. Response time take hours. Gave them my FICA days ago in order for me to be able to atleast withdraw, I still haven’t received response. They promise same day withdrawals. It’s been days, still nothing. Don’t do it.
Waiting for weeks
I honestly do not recommend this broker to anyone. They have a WhatsApp number where you can contact them but they never respond . I deposited money into my account and it still has not reflected, I tried calling that number hell I even sent emails and they never respond. It’s a very sloppy broker and I would not recommend it to anyone . Some us try this forex thing because we work hard and want to change our lives . What are we expected to do now when the money we work hard for is gone just like that ? . I am very disappointed and will not recommend this broker to anyone
the deposit, is too much why cant i just deposit even 10 USD on my trading account because its very much difficult to get that large ammount
Jp Markets terrible service
I deposited into my jp markets account and funds did not reflect on the wallet and I called my account manager who said his name is *hloni* and he was of no help even though he said he can help me I waited 5 days and still nothing my monry has not reflected on my account.
this side is nt usefull jpmarket its useless its keep uselles it’s keep asking for ur passwords. i cnt even purchase or widraw. my money in there what’s kind of trade is that?? pls admin just correct ur mess be for unsubscribe with you
Opening an live account
I want to open an live account
Shady, unresponsive, and slow
I do not recomend this broker at all. I deposited 200 USD on the 30th of April. 2965 ZAR came off my south African bank account. 38 hours later, no money had come through. After trying to get ahold of them and eventually managing, the updated my balance in the account with 200 ZAR. After many emails, and finally managing to get ahold of someone who works close with them they finally resolved this issue 6 days later. As I discussed in my emails, I said that I will expect no amount short of the ZAR amount deducted from my bank account to reflect however there is a shortage. (Exchange rate fluctuations). This is despite their “Nobfee deposit/withdrawl policy” stated publicly on their website. Consider using Blueberry markets or hugosway but this broker is unreliable and shady at best. I’d give them 1/5.
Charts never lie
Jp markets closed my trades that were in profit but closed on a lose which is not possible even you all will check the charts now that certain pair is still rising. I had a stop loss but it closed 100 pips below my stop loss. Im not giving Jp markets a bad review but they should consider their clients potential of making profits before they make such mistakes.
Failure to log in
I am so disappointed because when I try to log in and I type in my email my password is rejected, so I’m wondering if its my fault or if it is the jpmarkets’ fault.
Waiting for 3 weeks now
I write to you to report that I deposited 2 000 to start trading but as from today the money haven’t been into my account its now the third week .
I have upload and attached my documents but you have not approve my scanned passport I have also send you an email attaching that passport and yet no response from you.
Jpmarkets are not approving my uploaded documents and they don’t even answer my emails
Hi I heard from different social media groups that your license is expired and not renew. I am worried,please clarify me in this regard
I just called Pretoria office asking for help in regard of my account and the Lady was harsh,her response was “okay!” Then she hung up the call, I tried calling again she never answered nor returned the call.
I watch 1 video on YouTube, that jp market is exposed. Those this broker still existing or no more. I just want more information about it because I want to open an account with them.
Failure to withdraw or log into my account.
This is absolute rubbish from a broker thats said to be among the best. failing to log in and now failing to withdraw .. Please resolve this issue . Business Ethics need to be maintained here
Hi, i need to know what’s the problem with jp markets server on mt4 trader android, Sunday night i cleared cache and data of my mt4, when i enter my credentials to login again, it doesn’t find my account anymore but other brokers are available
worst experience ever
Poor service overall
I have been with JP Markets for 8 months now. My main experience is that JP market’s customer support never respond to e-mails( very unprofessional ) and when you call them most of the time they talk to you in an unprofessional manner, it’s like they don’t even go for training. Thirdly, I have witness a lot of technical errors with JP market like seeing my trading account in profit but on my dashboard it will not show my profit. Next, is JP market spread, it’s is too high but they will advertise and say low spread. For an example, If you a trade buy on a pair and price go in your favor for a few pip above the ask line of which you should be on profit, but your trade will still be on at a loss. And biggest one is that JP market will hit my stop loss without the ask/bit price/line reaches my stop loss.I will see my trades disappear out of the blue.
Please people, other people need to know about the problems you facing with this brokers but the best way is too post on their social media pages twitter and Facebook, because most people don’t go the same websites, but social media( twitter n Facebook ) .They will definitely fix the problem and it will expose them weather their crooks or not judging by the number of complaints posted on their social media pages. So post your problems on their pages people.
At the end of the day, it is your hard earned money that is at risk
Frozen trades / trades disabled
So firstly I’d like to say this is the worst broker anyone could ever trade with. I sold the EURAUD at 0.05 lots and placed a TP and SL on it, the pairs price action went in my favour in the form of the pairs price dropping to the point where it even passed my TP but trade did not go in profit nor was it closed.
After which I noticed that the pairs, all of them, suddenly stopped moving. When I tried to email them about it I get no response it’s been 3 days now and still my pairs aren’t moving when I check other brokers their pairs are moving just fine. When I try to modify my open trades it shows “trades disabled” in red, I’ve emailed the broker 3 times with no response and I am so frustrated I regret giving them my money and I could report them to the local authorities I would.
So in essence don’t trade with this broker their a scam
JP Markets Review: Is It Safe To Trade With Jpmarkets.co.za?
In the unlikely event of you having any reason to feel dissatisfied with any aspect of our services, in the first instance you should contact our Customer Services Department on +27(0) 87 828 0576 or email [email protected], 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 our 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 we have acted fairly within our rights and have met our contractual and other obligations. A full written response will be provided with six weeks of receiving the complaint.
Complete form below to submit your complaint
Trading Foreign Exchange (Forex) and Contracts for Differences (CFD’s) is highly speculative, carries a high level of risk and may not be suitable for all investors. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin.
Copyright 2020 JP Markets SA
Nelson Mandela Square, Maude Street, West Tower Floor 2, Gauteng 2146
© 2020 JP Markets | All Rights Reserved | Created by: Lava Lamp Lab
JP Markets – South Africa’s and Africa’s biggest forex broker
JP Markets is a global Forex powerhouse. We set high standards for our services because quality is just as decisive for us as for our clients. We believe that versatile financial services require versatility in thinking and a unified policy of business principles. We continue to grow everyday thanks to the confidence our clients have in us. We are licensed and regulated by the Financial Services Board, South Africa, FSP 46855.