JQL MARKETS Forex Broker provides real users with 1 positive reviews, * neutral reviews and 1 exposure review!
Business
License
ASIC Revoked 
WeiJing Chen founder of kingsley tan is completely gone.
We need at least $1,000 to open an account with this company...the starting point is a bit too high. It looks solid though.
Summary: JQL Markets, a relatively new forex broker, has garnered mixed reviews from users and experts alike. While some users praise its trading platform and customer service, significant concerns about its regulatory status and withdrawal processes have emerged. The broker offers a high leverage ratio and various account types, but its lack of transparency raises red flags.
Note: It is essential to recognize that JQL Markets operates under different entities across regions, which can affect the level of regulatory oversight and user experience. This review aims to provide a fair and accurate assessment based on available information.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 6.0 |
| Tools and Resources | 5.5 |
| Customer Service & Support | 6.5 |
| Trading Experience | 6.0 |
| Trustworthiness | 3.0 |
| User Experience | 5.0 |
How We Rate Brokers: Our ratings are based on a comprehensive analysis of user reviews, expert opinions, and factual data regarding the broker's offerings.
Founded in 2021, JQL Markets positions itself as a global financial institution offering a platform for trading various financial instruments, including forex, commodities, indices, and ETFs. The broker primarily utilizes the MetaTrader 5 (MT5) platform, known for its user-friendly interface and advanced trading tools. However, JQL Markets has faced scrutiny regarding its regulatory status, with claims of being unregulated or operating under revoked licenses.
JQL Markets claims to be regulated by the Australian Securities and Investments Commission (ASIC) and operates under the Financial Services Authority of St. Vincent and the Grenadines. However, multiple sources indicate that its ASIC license has been revoked, raising serious concerns about the broker's legitimacy and the safety of client funds. According to Gripeo, JQL Markets is classified as an unregulated broker, which poses significant risks to investors.
The broker accepts deposits in various currencies, including USD, and supports cryptocurrency transactions. The minimum deposit requirement is stated to be around $1,000, which is notably high compared to many regulated brokers that often have lower thresholds. Users have reported difficulties with withdrawals, with delays and complications becoming common. As noted by Personal Reviews, clients often encounter challenges when attempting to withdraw funds, which is a significant red flag.
JQL Markets offers several bonuses, including a welcome bonus of $100 and additional deposit bonuses that can range from 10% to 30%, depending on the account type. While these promotions may seem attractive, they are often linked to stringent withdrawal conditions, which can complicate the process for users looking to access their funds. According to WikiFX, such practices are common among unregulated brokers aiming to lock clients into their systems.
Traders at JQL Markets can access a variety of assets, including forex, commodities, and indices. The broker offers leverage of up to 1:400, which is significantly higher than what many regulated brokers provide, raising concerns about the potential for substantial losses. Spread costs start from 0.5 pips, but the lack of transparency regarding additional fees and commissions has been criticized by users. As highlighted by Hercules Finance, the absence of clear fee structures can lead to unexpected charges for traders.
JQL Markets restricts services to residents of several countries, including the United States, Canada, and Australia. This limitation is indicative of the broker's regulatory challenges and the need for potential clients to exercise caution before engaging with the platform.
JQL Markets provides customer support in multiple languages, including English, Japanese, and Malay. However, the quality of support has been questioned, with some users reporting slow response times and inadequate assistance when issues arise.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 6.0 |
| Tools and Resources | 5.5 |
| Customer Service & Support | 6.5 |
| Trading Experience | 6.0 |
| Trustworthiness | 3.0 |
| User Experience | 5.0 |
Account Conditions (6.0): JQL Markets offers multiple account types, but the high minimum deposit requirement is a barrier for many traders.
Tools and Resources (5.5): While the MT5 platform is robust, the overall lack of educational resources and market analysis tools limits user engagement.
Customer Service & Support (6.5): Customer support is available in several languages, but users have reported mixed experiences regarding response times and effectiveness.
Trading Experience (6.0): The trading platform provides a decent experience, but issues with slippage and withdrawal complications detract from overall satisfaction.
Trustworthiness (3.0): The regulatory status is a significant concern, with multiple sources indicating that JQL Markets is unregulated or operates under a revoked license.
User Experience (5.0): User feedback reflects a mix of positive and negative experiences, with some praising the platform while others express frustration over withdrawal processes and customer support.
In conclusion, while JQL Markets may offer appealing trading conditions and a user-friendly platform, potential clients should approach with caution due to significant concerns about its regulatory status and withdrawal practices. This JQL Markets review highlights the importance of thorough research and consideration before engaging with any broker, particularly those with questionable oversight.
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