JP Market Reviews

JP Markets Отзывы

About the company:

JP Markets was established in the year 2016. Justin Paulsen, the company’s owner and CEO, has achieved his goal of becoming Africa’s biggest FX broker. The firm now has activities in Swaziland, Kenya, Pakistan, and Bangladesh, as well as offices in Johannesburg, Polokwane, Bloemfontein, Cape Town, and Pretoria in South Africa.

The company is licensed by the Financial Services Board in its native nation of South Africa (FSB). The FSB’s regulatory control helps to avoid fraud, and the FSB has identified numerous fraudulent forex brokers operating in Africa.

Trading platform

The firm provides an MT4 platform that may be downloaded. MT4 is the gold standard for retail Forex trading and is available for both Windows and Mac computers. The MT4 terminal is responsive, with adjustable settings and an interface.

Once you’ve logged in, you’ll have access to a number of trading tools. On the market, there are nine common charting periods, 30 built-in technical indicators, and hundreds of extra price indications. There are several order types to choose from, as well as risk management options.

On the Go account management is promised with the mobile app. Users may deposit and withdraw money, create genuine accounts, and access instructional resources through the mobile control panel. The software is available for Android (APK) and iOS (Apple) smartphones.

JP Markets Отзывы

Assets

The firm offers forex and CFD trading on 5,000 global markets, including:

  • Shares of the world’s largest companies
  • Forex
  • Indices
  • Commodities such as gold and silver
  • Cryptocurrencies

Spreads and commissions

Spreads on EUR/USD start at 0.7 pips and average out to 2 pips. Trading with them is expensive due to this, as well as the $10 per lot charge on ECN and STP broker accounts.

In terms of extra fees, the broker charges an inactivity fee as well as a rollover fee for overnight holdings. Fortunately, the company is reducing expenditures elsewhere. For example, there are no commissions when depositing or withdrawing cash, which is a nice advantage.

Leverage

Leverage may be adjusted up to 1:500. However, professional traders with retail clients who have access to leverage up to 1:200 are generally the ones that get the most leverage. Leverage levels vary depending on the instrument.

For traders, this means being able to open far greater positions than are typically permitted in Europe, for example. While this increases the danger of possible losses, it also increases the chances of reaping large rewards.

You may discuss margin requirements with a member of the team. You may also discuss the margin request procedure.

Deposits

Account replenishment can be done in the following ways:

  • Cards (Mastercard and Visa).
  • Transfer of funds via bank

Positions from Skrill are normally reflected in your trading account the same day, but it might take up to 24 hours. Customers can deposit money into their accounts in their own currencies.

To deposit funds, go to your account area and click “deposit,” then choose your currency and payment type and follow the prompts. When you deposit or withdraw money, you will not be charged a commission.

Withdrawals

Withdrawals are processed Monday through Friday, 9:00 a.m. to 5:00 p.m. GMT+2. (South Africa Standard Time). Unfortunately, there are a few security issues to solve throughout the withdrawal process:

To request an internal transfer from your trading account to your target account, log in to your secure member area. Select “Transfers” and then “Internal Transfers” from the drop-down menu. Enter the desired withdrawal amount, keeping in mind that the “from” account is your trading account and the “to” account is your target account. Upload required papers, such as proof of identification, proof of residence, and bank data, including account numbers, to enable quick account verification and payment processing. The withdrawal will be executed within four hours after the finance department processes the payment request.

Bonuses

The company offers a 200 percent free welcome bonus on deposits of up to R280,000 (USD equivalent).Bonus 2020 is available for both mobile and desktop deposits and is applied instantly. However, the rules of withdrawal stipulate that bonus credit cannot be withdrawn.

Licensing

The Financial Services Board of South Africa (FSB) license number 46855 governs the organization. Customer concerns have prompted an inquiry, and the broker’s license has been suspended as a result. Before opening a new account with JP Markets, we recommend waiting for the company to overcome its regulatory difficulties.

Client funds are kept separate from the company’s capital and are overseen by an independent auditor on a daily basis. Negative balance protection and indemnity insurance go hand in hand.

Additional features

Beginner trading classes are one of the firm’s distinguishing features. Beginners in the forex market can sign up for free training and online webinars. Pattern analysis, the VIX 75, and trading methods are among the subjects covered in video courses. An economic calendar, trading seminars, how-to articles, and Telegram, an online Forex trading community, are all accessible on the broker’s website. Furthermore, the COVID-19 market analysis has sparked interest throughout Africa, particularly among Zimbabwean dealers.

The broker’s present product will be enhanced by copy-trading and automated trading features. The same can be said about the signal service, despite the fact that the broker delivers optional market information through SMS multiple times a day.

Account types

An account comes in a variety of shapes and sizes. When you open a real-money account, you have the choice of using ZAR, USD, or GBP. You can also pick between the ECN and STP models. A commission is charged on each trade in an ECN zero spread account. However, under an STP model, the broker’s commission is deducted from the spread.

You will be required to produce FICA documentation, which includes verification of identification and residence, while creating an account. Each form of investor account guarantees a safe and secure login method as well as a place for users to access the account’s contents and features.

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