JustMarkets, a Seychelles-based broker established in 2012, has gained attention for its exceptionally competitive trading conditions, such as low spreads that reach as little as 0.0 pips and leveraged trading options of up to 1:3000. These features cater particularly to cost-sensitive traders, including beginners and intermediate investors who prefer low-cost trading solutions. However, this broker has faced ongoing scrutiny over its regulatory frameworks, or lack thereof, along with user complaints about withdrawal processes and fund safety, suggesting that traders must tread carefully. JustMarkets may be an attractive option for those focused solely on trading costs, but potential clients should consider the substantial risks associated in these areas.
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| Dimension | Rating (out of 5) | Justification |
|---|---|---|
| Trustworthiness | 2.5 | Mixed reviews about withdrawal issues and lack of tier-1 regulation. |
| Trading Costs | 4.5 | Competitive spreads starting from 0.0 pips, with minimal commissions. |
| Platforms & Tools | 4.0 | Offers both MT4 and MT5 with a user-friendly interface but lacks proprietary tools. |
| User Experience | 3.0 | Decent overall experience, marred by varying customer support quality. |
| Customer Support | 3.8 | The support team is generally responsive but has received criticisms during peak times. |
| Account Conditions | 4.0 | Multiple account types with low minimum deposits, competitive conditions. |
JustMarkets, previously known as JustForex, was founded in 2012 and is registered in Seychelles. The broker targets a wide demographic, offering service in over 197 countries. The company positions itself as a cost-effective trading solution, leveraging low trading fees to attract beginner and intermediate traders. Despite its enticing offerings, the lack of tier-1 regulatory oversight raises questions about its credibility and reliability.
JustMarkets offers a range of trading services primarily focused on Forex pairs but also includes commodities, indices, stocks, and cryptocurrencies. The broker supports trading through renowned platforms MetaTrader 4 and MetaTrader 5, providing a comprehensive trading experience that accommodates various strategies, including copy trading and automated trading via Expert Advisors (EAs). JustMarkets is regulated by several bodies, such as CySEC in Cyprus and the FSA in Seychelles, although it lacks stringent oversight from top-tier regulators like FCA and ASIC.
| Quick-Look Details | |
|---|---|
| Regulation | FSA Seychelles, CySEC |
| Minimum Deposit | $1 for Standard accounts |
| Maximum Leverage | Up to 1:3000 |
| Major Fees | Withdrawal and deposit fees: None |
| Platforms Available | MT4, MT5, Web Trader |
| Copy Trading | Yes |
| Educational Resources | Limited, mainly articles and videos |
JustMarkets is regulated by the Seychelles Financial Services Authority and CySEC, with some regulatory oversight. However, concerns persist due to minimal regulatory requirements imposed by these organizations, which could potentially result in conflicts should issues arise. Some users express dissatisfaction with the absence of protection mechanisms and regulatory clarity.
“I totally recommend this broker to all traders out there.” - Sham 89, Malaysia
Mixed feedback indicates general satisfaction with trading conditions but a notable number of serious complaints surrounding withdrawal issues and overall service reliability.
JustMarkets offers highly competitive trading costs, with spreads as low as 0.0 pips on raw spread accounts, appealing to scalpers and high-frequency traders. The commission structure on these accounts is transparent: a charge of $6 per side per lot.
Some negative feedback surrounds customer experiences with withdrawal fees or delays in processing. A user reported being unable to withdraw funds for a prolonged period, which can negate the advantages of low trading costs.
"They keep delaying my withdrawal request for no reason." - Anonymous User
Overall, trading costs can be attractive especially for advanced traders with some minor risks concerning withdrawal processes. For beginners, the minimal commissions may motivate engagement, but they must remain vigilant about withdrawal restrictions.
JustMarkets provides access to both MetaTrader 4 and 5, renowned platforms offering extensive tools for technical analysis and strategy development. However, the platforms lack certain advanced features present in proprietary solutions from other brokers.
The associated tools are fairly robust, and the platforms include features like expert advisors and customizable alerts. Nevertheless, deficiencies in educational resources hinder its effectiveness for novice traders seeking tool optimization.
"The platform is quite user-friendly, but it lacks variety in trading tools." - Review Aggregated
User experiences highlight a generally smooth interface but express a desire for more sophisticated trading tools and an expansive integration of features.
JustMarkets offers a straightforward trading experience that is largely positive among users, facilitators for both novice and advanced traders.
While many users appreciate fast execution speeds, several complaints hint at issues with customer support responsiveness, particularly during peak trading hours and withdrawal requests.
Periods of system lags have been reported during significant news events, impacting user's trading efficiency. Overall stability appears above average, but occasional setbacks may arise during high-volume trading times.
JustMarkets offers 24/7 multilingual support via various channels like live chat, email, and social messaging apps, but the response time can vary significantly during busy periods.
"Customer service was responsive when I contacted them via chat." - User Feedback
Some users suggest that while the support team tends to be courteous and efficient, certain complaints have lodged against delayed responses regarding withdrawal inquiries.
JustMarkets provides four main account types catering to a spectrum of trader profiles from novices to professionals, including specific types suitable for Muslim clients with a Swap-free option.
With a minimum deposit starting from just $1, accessibility is a key feature aimed at encouraging inexperienced traders. However, higher-tier accounts require more substantial minimum investments, up to $100.
There are none to minimal fees on deposits and withdrawals, which enhances its appeal for cost-conscious traders. Yet, discrepancies in processing times can emerge, particularly concerning withdrawal statuses.
In conclusion, JustMarkets presents compelling advantages, particularly for cost-sensitive traders, with its low spreads, high leverage, and accessible account options. However, potential users must navigate significant risks—namely its weak regulatory stance and inconsistent withdrawal experiences. While JustMarkets could indeed serve as a suitable trading platform for many, it is vital that prospective clients conduct thorough due diligence and consider their risk tolerance before committing significant capital to this brokerage.
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