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JP Markets Review - Is it scam or safe?

JP Markets Review - is jpmarkets.co.za scam or good forex broker?

RATING: 2.9 / 38 REVIEWS JP Markets
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Trading Accounts

 

Account type   Minimum deposit  Minimum trade size Maximum leverage Spread
Standard R3 500 0.01 1:500 2.4 pips on EUR/USD

 

JP Markets offers its clients a single account type with variable spreads, no commission frees, leverage up to 1:500 and STP market execution. What is more, PAMM services are also available with this broker.

 

Keep in mind that scalping, hedging and use of automated strategies (EAs) is not allowed with JP Markets.

 

The Company. Security of Funds

 

Company

Country

Regulation

JP Markets SA (Pty) Ltd.

 South Africa 

FSB

 

JP Markets offers trading in around 30 forex pairs, stock indices, oil, gold and OTHER CFDs on the widely used MetaTrader 4 platform. The company behind the brand, JP Markets SA (Pty) Ltd. is licensed and regulated by the Financial Services Board (FSB), South Africa, FSP 46855. The broker also has presence in Kenya, Pakistan and Bangladesh.

 

Lately South Africa is seen as a financial market with great potential, as it is one of the most developed countries in Africa. FSB is in charge of the licensing process and supervision of forex brokerages in the country. Besides, the South African regulator has enforcement powers to deal with breaches through the enforcement committee, and runs a customer complaints service, the Office of the Ombud for Financial Services Providers.

 

Although regulation in South Africa is not among the strictest and most reputable ones, it provides a certain level of reliability. Locally licensed brokers are required to keep all client funds in segregated trust accounts in a recognized bank in the country.

 

Trading Conditions

 

Minimum Initial Deposit

The minimum initial deposit, required by JP Markets amounts to R3 500, which is a reasonable amount to start with. Other South African brokers, such as Blackstone Futures require more (R5 000).

 

Average Spreads & Commissions

JP Markets charges no commission fees, yet we find its spreads too wide to be competitive: averaged 2.4 pips on EUR/USD. Although fixed spreads are generally wider than floating ones, Blackstone Futures offers spreads fixed at 1 pips for EUR/USD. For more information, you may look up real-time spreads of 15 leading brokers here.

 

Leverage

The maximum leverage on all FX products, offered by JP Markets, is 1:500. Such leverage is considered comparatively high, although a number of brokers offer similar or higher leverage rates.

 

Traders, however, should be careful, for higher leverage involves greater risk.  That is why limitations on leverage rates are set in many jurisdictions.

 

Trading Platforms

 

This broker supports the popular MetaTrader 4 (MT4) platform. MT4 offers all a trader needs: ease of use, numerous order types, a wide range of technical indicators, extensive back-testing and advanced charting package. The platform is especially valued for its autotrading capacities via Expert Advisors (EA) that allow users to fully automate their trades by and let the program do all the work. Unfortunately, JP Markets does not allow automated strategies.

 

 

 

Here is a list of more forex brokers offering MT4 platform.

 

Promotions

JP Markets offers a number of different promotions:

-30% welcome on-deposit bonus granted for period of 60 days;

-20% redeposit bonus-

-Rebate bonuses, happy hour bonuses, and other such-like.

 

Methods of Payment

 

Clients of JP Markets can make deposits and withdrawals from and to their accounts via credit/debit cards, bank and wire transfer, Skrill, Neteller and Bitcoin.

 

Conclusion

 

JP Markets is a duly regulated forex and CFD South African broker that supports the robust MT4 platform. Unfortunately, its spreads are high and besides, it imposes many trading restrictions. In a nutshell, here are the Pros & Cons with regards to this broker:

 

Pros Cons
FSB-regulated High spreads
NDD execution Scalping, hedging and EAs not allowed
MT4 available No choice of trading platforms
Bonuses available  

 

Latest news about JP Markets
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Traders` reviews for JP Markets

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

question

this side is nt usefull jpmarket its useless its keep uselles it's keep asking for ur passwords. i cnt even purchase or widraw. my money in there what's kind of trade is that?? pls admin just correct ur mess be for unsubscribe with you

william 06/13/2019

Opening an live account

I want to open an live account
On jp markets
Last I did
But they didn’t Snd an email

Sfiso Vilakazi 06/05/2019

Shady, unresponsive, and slow

I do not recomend this broker at all. I deposited 200 USD on the 30th of April. 2965 ZAR came off my south African bank account. 38 hours later, no money had come through. After trying to get ahold of them and eventually managing, the updated my balance in the account with 200 ZAR. After many emails, and finally managing to get ahold of someone who works close with them they finally resolved this issue 6 days later. As I discussed in my emails, I said that I will expect no amount short of the ZAR amount deducted from my bank account to reflect however there is a shortage. (Exchange rate fluctuations). This is despite their "Nobfee deposit/withdrawl policy" stated publicly on their website. Consider using Blueberry markets or hugosway but this broker is unreliable and shady at best. I'd give them 1/5.

Luke 05/06/2019

Charts never lie

Jp markets closed my trades that were in profit but closed on a lose which is not possible even you all will check the charts now that certain pair is still rising. I had a stop loss but it closed 100 pips below my stop loss. Im not giving Jp markets a bad review but they should consider their clients potential of making profits before they make such mistakes.

Boikanyo Romeo Moetlo 05/01/2019

Failure to log in

I am so disappointed because when I try to log in and I type in my email my password is rejected, so I'm wondering if its my fault or if it is the jpmarkets' fault.

Dennis 04/01/2019

Waiting for 3 weeks now

I write to you to report that I deposited 2 000 to start trading but as from today the money haven't been into my account its now the third week ....

Sibonginkosi Sithole 03/26/2019

RE: Approval

I have upload and attached my documents but you have not approve my scanned passport I have also send you an email attaching that passport and yet no response from you.

Teboho Tsotsotso 03/25/2019

Pending documents

Jpmarkets are not approving my uploaded documents and they don't even answer my emails

Mapelanyana Kabi 03/24/2019

license expired?

Hi I heard from different social media groups that your license is expired and not renew. I am worried,please clarify me in this regard

DL Mabasa 03/24/2019

Complaint

I just called Pretoria office asking for help in regard of my account and the Lady was harsh,her response was "okay!" Then she hung up the call, I tried calling again she never answered nor returned the call.

Sindile Mabuza 03/22/2019

Exposed

I watch 1 video on YouTube, that jp market is exposed. Those this broker still existing or no more. I just want more information about it because I want to open an account with them.

Daniel Shihepo 03/10/2019

Failure to withdraw or log into my account!!!!!!!!!!

This is absolute rubbish from a broker thats said to be among the best... failing to log in and now failing to withdraw .. Please resolve this issue ... Business Ethics need to be maintained here

Talent 01/30/2019

mt4 server

Hi, i need to know what's the problem with jp markets server on mt4 trader android, Sunday night i cleared cache and data of my mt4, when i enter my credentials to login again, it doesn't find my account anymore but other brokers are available

Oscar 01/21/2019

Scam Alert

worst experience ever

Ajec 01/13/2019

Poor service overall

I have been with JP Markets for 8 months now. My main experience is that JP market's customer support never respond to e-mails( very unprofessional ) and when you call them most of the time they talk to you in an unprofessional manner, it's like they don't even go for training. Thirdly, I have witness a lot of technical errors with JP market like seeing my trading account in profit but on my dashboard it will not show my profit. Next, is JP market spread, it's is too high but they will advertise and say low spread. For an example, If you a trade buy on a pair and price go in your favor for a few pip above the ask line of which you should be on profit, but your trade will still be on at a loss. And biggest one is that JP market will hit my stop loss without the ask/bit price/line reaches my stop loss.I will see my trades disappear out of the blue.

Please people, other people need to know about the problems you facing with this brokers but the best way is too post on their social media pages twitter and Facebook, because most people don't go the same websites, but social media( twitter n Facebook ) .They will definitely fix the problem and it will expose them weather their crooks or not judging by the number of complaints posted on their social media pages. So post your problems on their pages people.

At the end of the day, it is your hard earned money that is at risk

Sandile Ngubani 01/03/2019

Frozen trades / trades disabled

So firstly I'd like to say this is the worst broker anyone could ever trade with... I sold the EURAUD at 0.05 lots and placed a TP and SL on it, the pairs price action went in my favour in the form of the pairs price dropping to the point where it even passed my TP but trade did not go in profit nor was it closed.

After which I noticed that the pairs, all of them, suddenly stopped moving... When I tried to email them about it I get no response it's been 3 days now and still my pairs aren't moving when I check other brokers their pairs are moving just fine... When I try to modify my open trades it shows "trades disabled" in red, I've emailed the broker 3 times with no response and I am so frustrated I regret giving them my money and I could report them to the local authorities I would!!!


So in essence don't trade with this broker their a scam

Kamohelo 12/26/2018

Deposit not reflected

I recently opened an account and funded my account but it has not reflected

Khaya Mthonjana 12/13/2018

Bad

Jp MARKETS are not to be trusted I've Been Trying to access my live account for like a week now and all I get is " Authorization Failed " . I have been calling them countless times and all they tell me is that i should give it time . Time for a week !? That's really unprofessional of them. I don't know what I was expecting from a broker that's based in South Africa. Don't be like me , don't sign up with these crooks people

Kopano Lichabe 12/07/2018

Deposit

I in the recent months have lost about R500 in deposit and when i tried to email or call them they didn’t help that much...

Lehlogonolo 10/22/2018

scam

I have witnessed a very stupid scandal where by a friend withdrew money on the 21st October 2018 and up to today the funds did not reflect.
when consulted, they claim there is nothing they can do to make sure that the client receive his funds. this is very stupid of such an organisation to say.

Next Joushua 10/22/2018

Funding

I just faded my account by transferring to jp account but I got no respond after

Kgatlhiso 09/13/2018

Android login problem

Since I opened and funded my account I can't
Log in trading platform on my Android phone
Even on my laptop it displayed "waiting for Update"

Thabani Xulu 08/17/2018

My money has been withheld by JP Markets

I have started trading with jp markets since january 2018 i have won and lost some trades, unfortunately of recent i was denied from withdrawing my funds from my account whicha over usd 1000 and wanted just $200. Their reasons been they have an arrangement with a company called TMT and directors of tmt have compicts with each other which is affecting us clients. What i dont understand why we are not allowed from withdrawing money from our mt4?

Mbuche magawa 05/18/2018

profit

hi I started trading with JP Market on January this year n I hv my made 4 deposit which makes up to R4.200 all together. What confuses me is that I cant make profit on existing account even when the chart are flowing in my favour I just wanna understand what makes that bcs on demo account I'm doing pretty good

mthobisi 05/04/2018

Disappointed

I've always liked JP Markets, but since I refunded my account I haven't had much joy. I funded my account but the money didn't reflect,had to complain before it got sorted out. The Deposit bonus wasn't included, had to enquire about that too, after some time it was included. My emails are hardly replied to. And last week Tuesday 17April I made a withdrawal to a Capitec account, until today (24 April 2018) I have not received anything, my account manager hasn't replied to two emails I've sent. I'm really thinking that going back to JP Markets was a wrong move on my side, if every time I need to run around and beg them for basic service.

Sibusiso 04/24/2018

Deposit doesn't appear on my dash

Hi I am a new client of jp markets and have deposited a sum of R800.00 on my dash account which is 0037568 it doesn't appear on my dash and on my live account platform which is 693498 and will like you guys to help me ASAP cause will like to start my new journey of trading with you guys.

Fani Ernest Tshabalala 03/27/2018

Price Manipulation

Good Day

For the first time in my trading experience I feel I was taken advantage of I was in profit but my trades were closed and everything turned to lossess when I checked the actual fee account you sent from the trades I got cut the prices you said you closed the trades from the actual price is not the same not even near it and all my trades yesterday were in profit the trend was in my favour but my account was wiped cleaned by you guys out of the blue. I have complained but waiting for one of your accounts manager on feedback.

Zuko Cornelius Ngoma 03/02/2018

landing account

well I'm currently trading with JP Markets.. for months now it has been a journey logging into my members login, and when logged in..I can't open a logging account but I can fund my account which I find confusing.. as much as I can open a usd account but can't open a zar account which they do offer.

please attend to our emails/issues of concern cause we losing money

cause honestly speaking I don't know how to feel when my broker has shady tendencies.

John 02/28/2018

my acc was having 5000 rands

I was using JP as my broker and my acc was having 5000 rands but l don't know what happened on 2 January my acc just got to less than 100 rands, like now l am scared to refer some traders to JP markts. so can you clarify for me on that

Tawanda Muchineuta 01/11/2018

Best Broker in SA

I've been with JP Markets for more than 6 months and honestly they are the best broker in SA at the moment. They offer me interest on my account balance (no other broker does this). Deposits and withdraws on the same day, (no other broker does this.... with other brokers, it's at least 5-7 days to get your money back) They are FSB regulated and can therefore legally offer copy trader.
I highly recommend them over Hotforex, who has good service but they rob you blind when it comes to getting you money back.

I see the comments below.. and none of them are even related to what JP Markets is in control of. Ayanda Mgobozi seems to be a IB partner so i dont see how JPM can get involved, these clients must take their issues with with Ayanda and not blame JPM for their decisions to choose Ayanda as their IB.

I've withdrawn over 30k with JPM multiple times, yes they do phone you, I spoke to the CO, a chap by the name of Kurt and he explained that this is for security purposes to ensure you are the person making the withdraw. We need to understand that they are regulated by FSB so they have to follow procedures to comply with regulation. This is no mickey mouse broker they are the real deal.

Kobus Manning 09/22/2017

Ayanda Mgobozi: Where are you or is he, JPM?

Hi

This time I just want to share that Ayanda Mgobhozi is still making people loose their money all in the name of JP Markets. A lady told me she lost money after being convinced by Ayanda that he would help her and her partner trade with JPM.
Given that he still uses the name of JP Markets I think it is discouraging and JP must intervene and help us get our lost moneys or at least get hold of Ayanda. Simple!The last time I phoned I thought I would get something positive as to his whereabouts but it is all quite as if it is business as usual. The next call i received was four days ago from a lady also complaining about Ayanda robbing her.
How many of us must be victims before JP stops him?

Mlungisi Makubalo 09/20/2017

invalid account

I have registered with this broker and send me login details which were invalid,I have tried several times to contact them but no one has responded to my e-mails. people you should be careful with these brokers. now I cannot do anything my money it is there at their dashboard.

David Mkwane 08/02/2017

Damages to my accounts. Nobody to assist with followup.

one of my accounts appars to have disappeared. i cannot get hold of Ayanda who recruited me and assited with trading. No response from JP Markets.
what mmust i do?
Is this how things are done to vulnerable people like me?

Mlungisi Makubalo 07/31/2017

Liquidated account.

Where is Ayanda Mgoboza? I need to talk to him regarding my liquidated accounts. My number is 0732089001. Please contact me ASAP.

Mlungisi 07/17/2017

Registering account

Hi I registered in the morning at around 8am using this email and I still haven't received any confirmation from you. How long does it take for me to get one?

Bester 06/23/2017

JP Markets Scam

Hi
Please do not trade with this broker . If you withdraw more than 10k you won't get it. They are saying they have to get confirmation from the owner hahahahahaha i withdrew all my money 1 by 1 .shit brocker. Market maker

Complain 06/22/2017

Trading deposit

Query!! Does this mean if you have minimum entry fee level of R1000.00 you can't trade or partake in any action with JPmarket...

Tshepo 06/22/2017

JP Markets: Why scaliping is not allowed

Can you explain why scalping is not allowed in your platform

Elias 05/28/2017
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