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.
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.
- Verify Regulations: Check registrations at regulatory authorities (CySEC, FSA).
- Independent Ratings: Explore reviews on platforms like Trustpilot or WikiFX.
- Contact Support: Initiate communication with customer service to seek clarity on concerns.
Industry Reputation and Summary
“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.
Trading Costs Analysis
Advantages in Commissions
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.
The "Traps" of Non-Trading Fees
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
Cost Structure Summary
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.
User Experience Analysis
General User Interface
JustMarkets offers a straightforward trading experience that is largely positive among users, facilitators for both novice and advanced traders.
Customer Feedback Overview
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.
Customer Support Analysis
Availability and Responsiveness
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.
Account Conditions Analysis
Range of Available Accounts
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.
Competitive Minimum Deposit Requirements
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.
Withdrawal and Deposit Options
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.
Conclusion
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.
Wide range of trading instruments, including over 170 options across forex, commodities, indices, and stocks.
Limited availability in key regions such as the U.S., U.K., and Japan, restricting access for some traders.
