JP PRO foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://portal.jppro.com/sign-up, about the company's legal and temporary regulatory information, the company's address Suite 305, Griffith Corporate Centre, Kingtown.
JP PRO Forex Broker
Basic Information
Thailand
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Rating Index
ISLAMIC
PRO
JP PRO Forex Broker - Complete Information Guide
1. Broker Overview
JP PRO, officially known as JP Global Limited, was established in 2015. The company is headquartered in Bangkok, Thailand, with additional offices located in Saint Vincent and the Grenadines and the United Kingdom. As a privately held entity, JP PRO focuses on providing trading services primarily to retail clients interested in forex and other financial instruments.
Since its inception, JP PRO has aimed to cater to a diverse clientele, including both novice and experienced traders. The broker has made significant strides in its operational capabilities, introducing various account types and trading platforms to enhance user experience. Notable milestones in its development include the launch of its proprietary trading platform and the introduction of multiple trading products.
JP PRO operates primarily in the retail forex market, offering services that allow individual investors to engage in trading various financial instruments, including currencies, commodities, and cryptocurrencies. The company's business model emphasizes low-cost trading to attract a wider audience of retail traders.
2. Regulatory and Compliance Information
JP PRO operates without regulatory oversight, which is a significant concern for potential investors. The broker is not registered with any major financial regulatory authority, such as the Financial Conduct Authority (FCA) in the UK or the Commodity Futures Trading Commission (CFTC) in the US. This lack of regulation raises questions about the safety and security of client funds.
The absence of a regulatory license means that JP PRO does not have a regulatory number or an officially recognized scope of business. Consequently, clients may find it challenging to seek recourse in the event of disputes or issues with fund withdrawals.
JP PRO's operational entities are based in regions with varying legal frameworks, including Thailand and Saint Vincent and the Grenadines. The broker does not participate in any investor compensation schemes, which further heightens the risk for clients.
Moreover, JP PRO claims to implement Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures, although the effectiveness of these protocols remains uncertain due to the lack of regulatory scrutiny.
3. Trading Products and Services
JP PRO offers a diverse range of trading products designed to meet the needs of various traders. The broker provides access to numerous forex currency pairs, including major, minor, and exotic pairs, allowing traders to engage in the global currency markets effectively.
In addition to forex trading, JP PRO offers Contract for Difference (CFD) products across several categories:
- Indices: Traders can speculate on major global indices, benefiting from market movements.
- Commodities: The platform allows trading in various commodities, including precious metals and energy products.
- Stocks: Clients can trade shares of publicly listed companies.
- Cryptocurrencies: JP PRO supports trading in several cryptocurrencies, catering to the growing interest in digital assets.
The broker frequently updates its product offerings, although specific details regarding the frequency of these updates and the introduction of new products remain limited. JP PRO provides retail trading services primarily, with no clear indication of institutional client services or white-label solutions.
4. Trading Platform and Technology
JP PRO supports the widely recognized MetaTrader 5 (MT5) trading platform, which is accessible on both desktop and mobile devices. This platform is known for its user-friendly interface and advanced charting tools, making it suitable for traders of all experience levels.
While there is no indication of a proprietary trading platform, JP PRO offers a web-based trading interface that allows users to execute trades and manage their accounts efficiently. The broker's mobile application is available for both iOS and Android devices, providing traders with the flexibility to trade on the go.
The execution model employed by JP PRO is primarily ECN (Electronic Communication Network), allowing for direct market access and competitive pricing. The broker's servers are located in the United States, which is crucial for reducing latency and improving trade execution speed.
Additionally, JP PRO supports API access for automated trading, enabling traders to implement their strategies using algorithmic trading systems.
5. Account Types and Trading Conditions
JP PRO offers several account types to cater to different trading preferences and experience levels:
- Standard Account: Requires a minimum deposit of $100, with spreads starting from 1.2 pips and no commission.
- ECN Account: Requires a minimum deposit of $500, with spreads starting from 0.6 pips and a commission of $10.
- Pro Account: Requires a minimum deposit of $5,000, with spreads starting from 0.1 pips and a commission of $6.
- Islamic Account: Designed for traders adhering to Islamic finance principles, this account requires a minimum deposit of $100, with spreads starting from 1.2 pips and no swap fees.
The leverage offered by JP PRO varies by account type, with the standard account providing a maximum leverage of 1:1000. Other accounts, such as the ECN, Pro, and Islamic accounts, offer leverage of 1:500. The broker's minimum trade size and overnight fee policies are not explicitly stated in the available resources.
6. Fund Management
JP PRO supports various deposit methods, including bank transfers, credit cards, and e-wallets. The minimum deposit requirement varies by account type, with the standard account requiring $100.
Deposit processing times are generally prompt, although specific timelines are not detailed. The broker does not impose deposit fees, which can be beneficial for traders looking to maximize their initial investments.
For withdrawals, JP PRO offers multiple methods; however, clients have reported difficulties and delays in processing their withdrawal requests. The withdrawal processing times and any associated fees are not clearly outlined, raising concerns about the broker's reliability in managing client funds.
7. Customer Support and Educational Resources
JP PRO provides customer support through various channels, including phone, email, live chat, and social media. The support team is available 24/7, catering to a global audience. However, the effectiveness and responsiveness of the customer service team have been questioned in several reviews.
The broker claims to offer support in multiple languages, although specific languages are not listed.
In terms of educational resources, JP PRO provides a range of materials, including webinars, tutorials, and e-books. Additionally, the broker offers market analysis services, including daily updates, news, and research reports, to assist traders in making informed decisions.
8. Regional Coverage and Restrictions
JP PRO primarily targets markets in Southeast Asia, with a significant presence in Thailand and Saint Vincent and the Grenadines. The broker has regional offices to enhance its service delivery.
However, JP PRO imposes strict regional restrictions, excluding clients from several countries, including the USA, Canada, Japan, Australia, Cuba, Afghanistan, North Korea, and South Sudan. This limited geographic reach may restrict potential clients seeking to engage with the broker.
In conclusion, while JP PRO offers a range of trading products and services, potential clients should exercise caution due to the broker's lack of regulation and reported issues regarding fund withdrawals. Thorough research and due diligence are essential before engaging with this broker.
JP PRO Similar Brokers
Latest Reviews
FX1725462865
Vietnam
Is JP Pro still operating in Vietnam and Southeast Asia, everyone? The specialist there told me that JP Pro has stopped operating. Currently, the deposit and withdrawal gateway is locked, and my account is also locked. Please guide me. Thank you very much.
Exposure
2024-11-26
FX1704562676
Thailand
My experience with JPPro has been quite satisfying. The zero commission on trades and tight spreads really help in maximizing my returns. Their platform, especially MetaTrader 5, is robust and offers great tools for analysis and trading. However, navigating through all the features initially took some time. Customer service has been responsive whenever I've reached out with queries
Positive
2024-06-27
FX1725462865
Vietnam
The JP Pro brokerage platform was changed from JP Exchange on 23/8/2023. On 4/11/2024, my accounts were locked on the platform and MT5. The amount deposited for the two accounts was 1.4 billion dong. I believe this is the work of a scam group because when I reported it on the morning of 27/11/2024, all Zalo accounts in the JP Pro investment group were deleted, locked, or transferred from customers to the company's personnel. There was also a friend named Duy Anh who told me to deposit 25-30k$ to save the accounts, which was on 2/11/2024, and it was certain that gold would decrease, and indeed gold did decrease, but my two accounts were also locked and the remaining funds in my accounts were also lost. I only hope that the competent authorities and the laws of our country will strictly punish the acts of fraud and misappropriation of assets from those who have worked hard, shed tears, and sometimes even sacrificed their lives to obtain them. During this time, I have been truly disheartened and I only hope that the laws of our country will help me and other investors recover the lost funds. I sincerely thank you.
Exposure
2024-12-13