JustMarkets Review 2024: Is it a scam?

JustMarkets Broker Overview

Operating since 2012, JustMarkets (formerly JustForex) has clients in more than 190 countries and offers several different account types, catering to traders with a range of needs. Why do customers prefer JustMarkets?

JustMarkets is regulated in three jurisdictions and offers more than 200 tradable assets including forex, stocks, cryptocurrencies, commodities, and stock indices via contract for difference (CFDs).

Boasting a nearly flawless 4.8 out of 5 rating on TrustPilot based on customer reviews, it’s no surprise that they also just won the Best Broker Asia award as determined by Fintech Awards 2022. JustMarkets doesn’t provide services to residents of the US, UK, EU, Japan, Canada, or Australia. Let’s jump and see what JustMarkets has to offer you.

JustMarkets Trading Terms and Product Offerings

JustMarkets offers a wide range of forex pairs, as well as stock index, cryptocurrency, stock, and commodity CFDs.

Trading terms refer to the spreads, margin, and commissions offered by JustMarkets. Leverage or margin varies based on the size of the account.

• $0 – $999 1:3000
• $1,000 – $4,999 1:2000
• $5,000 – $29,999 1:1000
• $30,000 or more 1:500

Smaller accounts are allowed higher leverage, while larger accounts can only go up to 500:1…which is still a lot, more than most traders ever use. Put another way, 500:1 leverage means traders are only required to have 0.2% of the position value in their account to maintain a trade.

For example, you can hold a $100,000 position with only $200 in the account.  Trading conditions vary based on the type of account used.

Cent, Standard, and Pro accounts don’t charge a commission but have higher spreads. The Raw Spread account has lower spreads but charges 3 units of the base currency per standard lot. The base currency is the first currency listed in the pair; so for example, if you are trading the EUR/USD, the commission is €3 per lot – €3 to buy and €3 to sell.

The number of assets you can trade also varies by account. Cent has the least (left), Standard has more, and Pro and Raw (right) have the most tradable assets.

The following are typical spreads seen on various account types.

JustMarkets does not not offer binary options trading.

JustMarkets Trading Platforms

JustMarkets offers MetaTrader 4 and 5 for Mac, PC, and Android downloads. You can also use MT4 and MT5 webtrader by simply logging in on the JustMarkets website – no download necessary.

MT4 and MT5 are industry standards offered by most forex brokers. MetaTrader is a software created by MetaQuotes which is licensed by brokers. It is a simple platform, but provides all the functions traders need:

• Place trades
• Place stop loss orders
• Place profit target orders

Where it lacks is in its analysis features. It has some basic indicators and drawing tools, but they are relatively outdated compared to more modern chart platforms like TradingView.

However, MT4 and MT5 do have their own programming language, which means you can get plugins to enhance and customize your experience on the trading platform. You’re able to download or create new indicators, or even use automated programs that will trade a strategy for you.

MetaTrader apps are common to many brokers such as Hirose and RoboForex. MT4 and MT5 are quite similar, but MT5 has an expanded programming language which makes it more suitable to algorithmic traders (traders using automated/robot-controlled strategies).

JustMarkets Funding and Withdrawal Options

JustMarkets offers an impressive array of deposit and withdrawal options. They do not charge their own fees on deposits and withdrawals.

Below, you will find the various ways you may deposit or withdraw with JustMarkets. Fees may be charged by the payment method, but JustMarkets doesn’t add their own fee.

• FasaPay, Skrill, Neteller, Perfect Money, Sticpay, PromptPay, PayRetailers, Boletel, MoMO, and Airtm
• Credit Card (Visa and Mastercard)
• Bitcoin, BitcoinCash, Ethereum, USD Coin, Tether, BUSD, Binance, Dogecoin, Litecoin, and XRP
• Local bank transfers (Malaysian, Indonesian, Thai, Vietnamese, Philippines, Africa, South Africa, and Africa mobile money).

Deposits are available instantly once received by JustMarkets. Processing times of payment providers vary. Withdrawal requests are processed within 1-2 hours. How quickly the funds are in your personal account depends on the speed of the payment processor once JustMarkets has released your funds.

Whether your broker is RoboForex or Hirose, payment speed is determined by the payment method used.

JustMarkets Promotions and Deposit Bonuses

JustMarkets runs various promotions and may change over time. Here are the current promotions.

At the time of writing, JustMarkets is offering a $30 welcome bonus, where you can open a welcome account and receive $30 to trade with. No deposit is required.

This is great if you are new to trading and want to trade a real money account (not demo) with absolutely no risk. You’re able to withdraw your profits.  For those looking to make a deposit, JustMarkets is also offering up to a 120% deposit bonus.

• Deposits up to $100 receive a 50% bonus.
• Deposits $100 to $500 receive a 100% bonus.
• Deposits over $50 receive a 120% bonus.

The bonus is available for trading, not for withdrawal until you have traded the specified amount in order to receive the withdrawals. Basically, use the funds for trading if you wish, but don’t expect to be able to withdraw them any time soon.

Are my funds secure with JustMarkets?

JustMarkets keeps clients’ funds separate from its own, which is a trait you should seek out in a broker.

Segregated accounts are highly recommended. Many brokers offer this, but not all. A segregated account means your funds are held in trust, separate from the broker’s finances.

This means if the broker goes bust, your funds are separate and you will likely get most or all of those funds back (less a fee the trustee charges to distribute the funds in the event of a broker bankruptcy). Segregated funds assure the safety of your funds, but another layer of security is making sure your broker is regulated.

Is JustMarkets Regulated?

Traders are well advised to trade with regulated brokers because they are subject to regulatory oversight and must adhere to local laws.

JustMarkets is regulated by three different regulators. Just Global Markets Ltd is regulated by the Seychelles Financial Services Authority (FSA). JustMarkets Ltd, is regulated by the Cyprus Securities and Exchange Commission (CySEC). JGM International Pty Limited, is regulated by the Vanuatu Financial Services Commission (VFSC).

Regulation doesn’t mean a broker will be amazing, but it does mean that they have agreed to adhere to regulations and are subject to oversight. With a regulated broker you’re less likely to get scammed. Also check out reviews of other regulated brokers, including OctaFX and eToro. Other brokers regulated in Cyprus include Exante and XM.

How Do I Contact JustMarkets’ Support?

Support is available 24/7. That is rare, as most brokers only offer support during the week but not on weekends.

Email support ([email protected]) is available in English, Indonesian, Malaysian, Spanish, and Portuguese. Expect an email response within 24 hours. Phone support is offered in English (+37167881045 and +441418461237)

Live Chat is available via Messenger, WhatsApp, Telegram, Line, iMessage, Viber, and Instagram. You can contact the finance department 24/7 for any issues involving withdrawals and deposits via [email protected].

There is also a live chat option available on the website. Expect a response within a few minutes, but you do have to go through the automated robot responses before reaching a live agent.

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