JP Markets Review 2024

JP Markets is a South African forex and CFD broker established in 2016. The broker is regulated by the FSCA in South Africa although the firm has been involved in controversy in recent years. The brokerage offers thousands of assets in ECN and STP accounts, including forex, stocks and commodities. The firm promises high-quality support, tailored services and innovation to its global traders.

JP Markets is a multiple award-winning broker that offers traders Forex CFDs, indices, stocks, commodities, cryptocurrencies. JP Markets allows traders to use the MetaTrader 4 trading platform, but unfortunately not MetaTrader 5 at this point.

In terms of features offered to traders, JP Markets has Demo Accounts but is missing Islamic Accounts, Social Trading, Signals and Auto Trading.

JP Markets also gives traders access to 4 cryptocurrencies: BTC, LTC, ETH and XRP.

JP Markets is regulated, but not by the FCA here in the UK. While this is not necessarily an issue, very careful traders might want the extra safety of using an FCA-regulated broker.

JP Markets Summary

JP Markets is a South African forex and CFD broker established in 2016. The broker is regulated by the FSCA in South Africa although the firm has been involved in controversy in recent years. The brokerage offers thousands of assets in ECN and STP accounts, including forex, stocks and commodities. The firm promises high-quality support, tailored services and innovation to its global traders.

JP Markets is #97 in our rankings of CFD brokers.

Ratings

50%
Trust
66%
Instruments
28%
Features
Pros
  • A wide selection of 5000 instruments spanning stocks, forex, indices, commodities and cryptos
  • No fees on deposits or withdrawals plus a breadth of local payment methods for South African clients
  • Range of ECN or STP account types with ZAR, USD and GBP base currencies
  • Decent demo account for beginners with flexible leverage
  • Same-day deposits and withdrawals
  • Free forex courses and webinars
  • WhatsApp customer support
  • MetaTrader 4 integration
Cons
  • Higher trading fees than many brokers with wide spreads and a $10 commission per lot
  • Scalping, hedging and automated trading not permitted
  • Mainly aimed at South African clients
  • Lack of transparency on the website
  • No MetaTrader 5 software
  • Some customer complaints
  • Outdated blogs
BonusNone
InstrumentsForex CFDs, indices, stocks, commodities, cryptocurrencies
Demo Account ✓ Yes
Min. Deposit $0
Min. Trade0.01 Lots
Regulated ByFSB
MetaTrader 4
MetaTrader 5
cTrader
DMA Account
ECN Account
Mobile Apps
Auto Trading
Trade Signals
Social Trading
Copy Trading
Islamic Account
Commodities
  • Gold

CFD Trading

Access over 5000 CFDs with high leverage up to 1:500. Trading costs are high with a $10 commission per lot, though the broker does offer accessible trading in ZAR, USD or GBP for global clients.

Leverage1:400
FTSE Spread19 pips
GBPUSD Spread2.4 pips
Oil Spread10 pips
Stocks SpreadFrom 0.7 pips

Forex Trading

JP Markets only offers 30 currency pairs, which does not match top brokers. Average spreads on EUR/USD are also around 2 pips, which is higher than many competitors.

GBPUSD Spread2.4 pips
EURUSD Spread2 pips
EURGBP Spread2.4 pips
Assets30

Cryptocurrency Trading

Some digital tokens are available, including Bitcoin, though crypto deposits are not supported. Crypto traders may want to consider a more reliable and regulated broker.

SpreadVariable
CoinsBTC, LTC, ETH, XRP

Payment Methods

JP Markets accepts the following payment methods:

Awards

JP Markets is a multiple award-winning broker, with 4 awards received so far.

  • South Africa’s Best Broker 2019 - Global Business Outlook
  • South Africa’s Fastest Growing Broker 2019 - International Finance
  • The Most Transparent Broker 2019 - The European
  • Forex CEO of the year South Africa 2020 - International Business Magazine
Risk Warning – Your capital is at risk

FAQ

Is JP Markets Safe?

Yes, most likely, as we gave JP Markets a trust score of 50% in this review. The main negative factor in this score is that JP Markets is not FCA regulated. However, very careful traders might want to find an alternative in our top list of UK brokers.

Does JP Markets Accept PayPal?

No, JP Markets does not accept PayPal payments. See our list of brokers that accept PayPal for alternatives.

Is JP Markets Halal?

Probably not, as JP Markets does not offer an Islamic trading account as far as we know. For alternatives, please see the list of halal brokers.

What trading platforms does JP Markets support?

JP Markets only supports the MetaTrader 4 trading platform at this time.

Is JP Markets Regulated in the UK?

No, JP Markets is unfortunately not regulated by the FCA here in the UK. See our list of FCA regulated brokers for alternatives

Is JP Markets Regulated?

Yes, JP Markets is regulated by FSB.

The fact that JP Markets is not regulated by our own FCA will be a concern to the most careful traders. See our list of FCA regulated brokers for alternatives.

Compare JP Markets with Other Brokers

These brokers are the most similar to JP Markets:

  1. FP Markets - FP Markets is an ASIC- and CySEC-regulated broker that offers forex and CFD trading on a broad range of assets through the MT4, MT5 and IRESS platforms. With trading available through standard and raw spread accounts on thousands of international stocks, forex, indices, commodities, cryptocurrencies, bonds and ETFs, this broker has some of the most comprehensive market coverage available. FP Markets also offers a full range of additional features, including educational resources and access to powerful software such as Autochartist.
  2. Pepperstone - Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for traders at all levels.
  3. IG Index - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

JP Markets Feature Comparison

JP Markets Compared With Similar Brokers
JP Markets FP Markets Pepperstone IG Index
Rating 1.5 4 4.8 4.4
Markets Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities
Minimum Deposit $0 $100 $0 $0
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Demo Account Yes Yes Yes Yes
Regulators FSB ASIC, CySEC, ESMA FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA
Bonus - - - -
Education No Yes Yes Yes
Platforms MT4 MT4, MT5, cTrader MT4, MT5, cTrader MT4
Leverage 1:400 1:30 (UK), 1:500 (Global) 1:30 (Retail), 1:500 (Pro) 1:30 (Retail), 1:222 (Pro)
Visit
Review JP Markets
Review
FP Markets
Review
Pepperstone
Review
IG Index
Review

Trading Instruments Comparison

Comparison of JP Markets Trading Instruments
JP Markets FP Markets Pepperstone IG Index
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Crypto Yes Yes Yes No
Commodities Yes Yes Yes Yes
Oil No Yes Yes Yes
Gold Yes Yes Yes Yes
Copper No Yes Yes Yes
Silver No Yes Yes Yes
Corn No Yes Yes No
Futures No Yes No Yes
Options No No No Yes
ETFs No Yes Yes Yes
Bonds No Yes No Yes
Warrants No No No Yes
Spreadbetting No No Yes Yes
Volatility Index No Yes Yes Yes

JP Markets vs Other Brokers

Compare JP Markets with any other broker by selecting the other broker below.

 

Popular JP Markets comparisons:

JP Markets is a South African forex and CFD broker established in 2016. The broker is regulated by the FSCA in South Africa although the firm has been involved in controversy in recent years. The brokerage offers thousands of assets in ECN and STP accounts, including forex, stocks and commodities. The firm promises high-quality support, tailored services and innovation to its global traders.