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Juno Markets Review - Is it scam or safe?

Juno Markets Review - is junomarkets.com scam or good forex broker?

RATING: 2 / 2 REVIEWS ForexBrokerz Juno Markets
Juno Markets is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Trading Account  Minimum deposit Min. trade size Maximum leverage Spreads
STP $500 0.01 1:400 From 2.0 pips

 

Clients of Juno Markets are offered a single STP account with leverage up to 1:400, commission-free trading, variable spreads and micro tradeable lots on the MetaTrader 4 platform.

 

Account management services are also available with this broker.

 

In fact, the typical spreads offered by this broker are above 2.0 pips, which is above the average for the forex market. By comparison, another offshore broker, FxChoice, offers average spreads of 1.2 pips on its commission-free accounts.  For further information and comparison, you may look up the real-time spreads of 15 leading brokers here.

 

As regards leverage, Juno Markets offers levels up to 1:400, which is considered as a high ratio. Nonetheless, many brokers offer leverage of 1:500 of higher. Bear in mind, however, that using higher leverage levels maximizes the risk associated with trading on margin.

 

The Company. Security of Funds

 

Company Country Regulation
Juno Markets Ltd. SVG-registered FinaCom

  

Juno Markets is founded and headquartered in Asia, and focuses on Asian market, offering more than 35 FX crosses, 14 of the world’s leading stock indices, as well as precious metals and other commodities on the popular MT4 platform.

 

The company behind the brand is Juno Markets Ltd., which is registered as International Business Company (IBC) in St. Vincent and the Grenadines. SVG is a popular offshore forex destination due to the fast and inexpensive registration procedure and the liberal control over brokerage firms.

 

IBCs are not obliged to meet capital adequacy requirements, to keep client money in segregated accounts, nor to arrange a compensation scheme in the event of insolvency. Juno Markets, however is a member of the Financial Commission (FinaCom) - a neutral and unbiased dispute resolution facility that provides protection by Commission’s Compensation Fund up to $20,000 per case (for holders of Category A license).

 

We generally advice traders to avoid offshore brokers and invest their hard-earned money in a brokerages licensed in UK, Cyprus, or Australia for instance, where there is certain level of client protection and financial watchdogs apply strict requirements to financial providers and exercise supervision. Juno Markets, however, does not seem as a scam broker. In fact, one of its co-founders, Morten Fillipsen, is a former head of retail operations at Saxo Bank and also a regional head of Greater China.

 

Trading Platform

 

Juno Markets offers its clients the most popular forex front-end application - MetaTrader 4 (MT4), desktop and mobile versions available.

 

The MT4 is the prefeered choice of most traders and brokers, although its developer, MetaQuotes, recently threatened that there will be no more updates to it, as the company tries to strengthen the position of its successor, the MetaTrader 5. The MT4 provides the necessary tools and resources to analyze price dynamics of financial instruments, make the trades, as well as automate them via  Expert Advisors (EAs).

 

 

 

Methods of Payment

 

Juno Markets offers its clients the following payment modes: credit/debit card, bank wire transfer, and e-wallets Skrill, Neteller, FasaPay, China UnionPay, WeChat Pay, AliPay and Multiple local payment methods, depending on your country of residence.

 

Conclusion

 

Juno Markets is and Asian forex and CFD broker, registered offshore. It operates on a pure STP model and is a member of FinaCom, however we find its spreads above the average in the industry. Here are, in a nutshell, the pros and cons of Juno Markets:

 

Pros Cons
Pure STP execution model Registered offshore
Commission-free trading  Comparatively high spreads
FinaCom member   
MT4 available    
High leverage levels available  

   

Latest news about Juno Markets
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Traders` reviews for Juno 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

 

 

Good customer service

I've had an account with Juno Markets for 2 years and so far everything is been fine. Customer service is friendly and responsive and funding and withdrawals are easy. They gave me a dedicated account manager so I can whatsapp them if I have any questions. Spreads are a little higher than other brokers but I'm not very active so would rather have the service.

Ayden 09/05/2017
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