JustMarkets (Formerly JustForex) Review: Are They A Good Broker?

JustMarkets Overviews

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JustMarkets is an online forex brokerage that deals with only forex and crypto. They were founded in 2012 in the city of Belmopan, Belize, and have rebranded to their current name from JustForex. This broker offers clients a way to trade through VPS hosting and has four different account types that will pretty much suit the most avid forex trader, along with having a Cent account for beginners. Let's look at this broker to see how good other facets of their business is and if they really are good as their clients say.

Facts About JustMarkets

Pros and Cons

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Is JustMarkets Safe? Broker Regulations

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JustMarkets is very “open” with providing information about where their offices are located in the various regions they operate in and providing all the information about the licenses they hold to the regulatory authorities overseeing them.

These details can be found simply by visiting the homepage of their website and then scrolling to the footer section. Not only do they provide the licenses of the authorities and then their office’s address, but they also provide their business operating license numbers as well.

This is the type of transparency you are looking for in a broker to determine whether they are legitimate or not, or the least it provides is more credibility. It is also important to remember that even though this broker has rebranded from JustForex to JustMarkets, the necessary steps were taken to ensure that these licenses apply.

Here is what they have pertaining to the entities and company that runs JustMarkets;

• Just Global Markets Ltd., registration number 8427198-1, address: Office 10, Floor 2, Vairam Building, Providence Industrial Estate, Providence, Mahe, Seychelles, a company regulated by the Seychelles Financial Services Authority (FSCA) under a Securities Dealer License number SD088;
• JustMarkets Ltd, registration number HE 361312, address: 13/15 Grigori Afxentiou street, IDE IOANNOU COURT, Office 102, Mesa Geitonia, 4003, Limassol, Cyprus, authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 401/21;
• JGM International Pty Limited, registration number 700565, address: Law Partners House, Kumulu Highway, Port Vila, Vanuatu, authorized and regulated by the Vanuatu Financial Services Commission (VFSC).

As you can see, this broker is regulated by three different authorities across three regions. Next, we can look at their customer review score on Trustpilot. With almost 2,000 client reviews that have a total of 4.8 out of 5 stars. This is the highest score so far that we have come across.

What Can I Trade with JustMarkets?

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As their previous company name would imply (JustForex), JustMarkets mainly deals in forex but now also in cryptocurrency trading. They do not deal in other assets like stocks, commodities, indices, etc.

Depending on what you are looking to trade, this may not be the broker for you. However, they provide a VPS (Virtual Private Server) for their forex hosting, and this is something we will cover instead of looking at all the assets they have, which we usually cover in our other reviews.

What is VPS hosting for brokers?

Brokers such as JustMarkets that utilize VPS hosting offer lightning-fast automated trading, which runs through the hosting of virtual servers. In simple terms, VPS is a service that allows you to lease a virtual personal computer for trading.

Traders with VPS get a remote machine to log onto and install trading software. These virtual machines run independently from your own and thus provide the opportunity to trade 24/5 without any mishaps or interruptions. It should be noted that typically VPS hosting is offered from a third party, and brokers usually do not have this available for their clients (it is a service you will have to purchase on a monthly basis from another company besides your broker)

Here are the specific points that JustMarkets detail about their VPS hosting;

• It is an indispensable tool for traders who use advisors or robots
• You can do continuous work of your terminal on the virtual servers 24/7, 365
• There is a reduction in information exchange time between the terminal and the company’s servers.
• Since the VPS server and the trading one of JustMarkets are situated close to each other, the communication time reduces to less than 1 ms
• There is the reliability of the data storage and constant backups creation of the settings
• Simplicity in usage. Using their VPS almost doesn’t differ from using your home PC.
• Access from all over the world. Everyone will be able to access their VPS from all over the world from any computer or tablet connected to the Internet.

As we stated, JustMarkets also offer cryptocurrency and forex, but there is no specific breakdown of what they offer. The only information they provide is that of detailing that clients will be able to trade over 170 instruments if they choose to open an account.

 

How to Trade with JustMarkets?

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JustMarkets only have two ways for clients to trade: with MT4 and MT5. Looking at the image below, you will also find that they only offer these trading platforms for Windows machines (PC), Android, and iPhone. However, you should know by now that Apple has removed MetaTrader from its app store as of 2022. Heading to this page on the site and clicking on the “download’ link does not work.

 

 

They also offer MetaTrader as an option for Mac users, but this is not shown in their menu, but if you head to either the MT4 or MT5 page, you will find the option to download the software for both Mac and PC.

 

 

It should be noted that for MetaTrader, a web terminal is also available for clients. You may wonder why this broker does not have other trading platforms or even a mobile trading app. This is due to the VPS service they provide.

Remember that clients will log onto a virtual machine that is running off a dedicated server, and this setup will facilitate the type of automated trading (robots, expert advisors, and so on) that MetaTrader provides. Thus we would not expect them to have any other trading platforms available to their clients.

Lastly, even though they do not have proprietary software or their own mobile app, you are able to install MetaTrader on your Android device. Thus, for the most part, only clients that solely want to use an iPhone to trade will be out of luck in this case.

 

 

There are two different versions of MetaTrader for Android (both MT4 and MT5), so you should head to the respective page in order to download the correct version.

How Can I Open JustMarkets Account? A Simple Tutorial

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Here we will go over how to open a standard account with JustMarkets. Typically, the process for most brokers will be that when you sign up, you will do so with a free demo account and then open a live account once your registration is complete. Then the other avenue that brokers typically take is that when you open a trading account, it automatically comes with a free demo account.

In the case of JustMarkets, there are two separate options to open an account if you peruse their site (one for a demo account and then one for a live account). However, both of these options will take you to the same registration page, so this broker falls within the second group of brokers we just touched on.

 

 

To open an account, you will need to head to their website, and then besides finding the “open live” or “open demo” accounts that are across their site, you can simply click on the “registration” button, which is situated above the header menu.

 

 

You will then be redirected to their back-office registration page, where you will need to fill out your country of residence, Email, and access password. You will also need to agree to their client agreement, and we recommend that (just with all other brokers) you read through this before moving forward.

 

 

That’s as far as you need to go to register and open an account with JustMarkets. It’s as simple as that. After you click the register button, your account will be created, and you will be logged into the client dashboard. Regarding registration and account creation, JustMarkets has one of the fastest signup processes compared to many other brokers that we have reviewed.

 

 

Take note that although this process is quick, you will still need to verify your identity when it comes to withdrawing funds and heading to the “withdrawal” tab in your client area will prompt you with a series of questions that you will need to provide along with identification documents.

 

 

JustMarkets Charts and Analysis

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When it comes to resources and trading educational material, JustMarkets have what we consider to be the “normal” amount. Note that looking at the image we provide, they have a few sections that we do not classify as trading resources.

For example, the “quick start” section is how to start trading with JustMarkets straightaway. Then the “currencies section” is just an overview of the world’s countries and the currency name and abbreviation for each. Their “economic calendar” (although we consider it a resource) is nothing out of the ordinary, and it holds no additional or special information for clients to utilize, so we do not regard this either.

Lastly is their “forex glossary,” and although they have this section, it is not filled with all the terms that one would use or need to learn when trying to understand forex, trading, or the financial markets let alone be of big help in improving their trading strategies.

 

 

However, they still have other resources which we will go over, and these include;

• Market Overview
• Daily forecast
• Market news
• Online webinars
• Forex articles
• Educational videos

Looking at the resources that the market overview, daily forecast, and market news sections give, we can see that the information is relevant and up-to-date. However, the layout for all these sections is identical, and if you don’t mind a wall of text, then you won’t be worried.

All the feeds are in a blog format, with the latest and most relevant news being at the top. You can expect to find published resources about once a day or once every two days when looking at these sections; they provide information as their names suggest.

The market overview section gives a recap and breakdown of the financial sector as a whole, and you will find information about investing and sentiment here. The daily forecast will have everything from fundamental to technical analysis, while the market news will cover the most recent (and most relevant or impactful financial news).

Moving to their webinars section is where you will find live streams that were saved to YouTube, and they cover all aspects of trading which are easier to digest as a go-to on trading strategies. These are in-depth tutorials, but there is a downside. The first is that there is only a handful of them, and the second is that the most recent video is dated two years back. Hence, this section has not been updated in a while.

 

 

Looking at their forex articles page, we find that most of the articles focus on trading in specific Asian countries, so they will not apply to all levels of trading experience. This means you can cut the information from there that you can learn by about 1/3. However, if you are wondering how to go about trading in Malaysia, Nigeria, Thailand, Vietnam, etc., then you should browse over this section.

You can also find some hidden gems here if you browse past page one, as their articles cover 9 pages and average between 10 to 15 articles per page. This means they have a total of about 90 to 135 articles. The only downside is that there is no search function, so you will have to manually sift through each page if you are looking for something specific ie trading strategies, trading instruments, currency pairs and etc. On top of that, these articles are in no particular order and are not even sorted alphabetically.

Lastly, they have 5 videos (total) on the “educational videos” page, and these cover aspects of learning to understand and use the features of MetaTrader 4 and 5 better. Everything from purchasing and creating robots to trading with statistics, growth, and equity are included in these videos. The videos are quite resourceful, and you will get a nice grounding in learning about MetaTrader; it is just a pity that they do not have more than what is available.

JustMarkets Account Types

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There are four account types that clients can choose to open when trading with JustMarkets. They do categorize accounts firstly by the trading platform. This means you have to choose accounts that will be based on you using either MT4 or MT5, and then various trading account types will be available for each.

However, for both platforms, all trading account types are identical, except that choosing MT 4 will allow you to open up a Standard Cent Account. The minimum deposit for the Cent account is 1 USD, and the account base currency is in USC (Ultimate Secure Cash/USD). Other than that, there is no difference between the other accounts, which we will look at now.

The three remaining trading account types you can choose to open for both MT4 and MT4 include a Standard, Pro, and Raw Spread account. Leverage on all accounts is up to 1:3000, with the Standard Cent, Standard, and Pro account having no commission charges. The minimum deposit for the Standard account is the same as the Cent account (1 USD), while the Pro and Raw Spread account have a minimum deposit of 100 USD.

In terms of spreads or raw spread accounts, the Cent and Standard accounts start from 0.3, while the Pro starts at 0.1, with the Raw Spread account having a zero spread. It should also be noted that all accounts are swap-free.

Do I Have Negative Balance Protection with This Broker?

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JustMarkets regards negative balance protection as “normal practice,” and they state they will continue to remain on the side of their clients trying to provide quality service and do offer negative balance protection.

There was an incident in 2015 where traders suffered substantial losses, and they were afraid that JustMarkets would not cover this, but this is a statement that is still available today, reassuring their customers that they intend to keep the policy in practice.

If you don’t know, negative balance protection is a policy that some brokers uphold that states if you incur any losses and your balance goes into the negative, the broker will cover your losses and reset your account back to zero. This essentially means you can never lose more capital than what you deposit.

JustMarkets Deposits and Withdrawals

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JustMarkets has a comprehensive list of methods by which you can deposit and withdraw your capital. They actually have too many to mention (33 methods of depositing and 28 methods for withdrawals).

However, we will cover the majority of them. Head to their dedicated deposits and withdrawals page if you would like to know more about it. Worldwide credit and debit cards include Visa and Master cards, while people who use e-wallets will be pleasantly surprised because they offer;

• Skrill
• Neteller
• Perfect Money
• STICPAY
• AIRTM

They also have the option for cryptocurrency. This means you can use anything from Binance to Ethereum, Bitcoin, Litecoin, XRP, and more to deposit funds. Then for the countries that they operate in, they offer local bank transfers. Some regions include Malaysia, South Africa, the Philippines, and Vietnam. Local wallets include Fasapay.

There are no fees when depositing and withdrawing except that you will need to pay a blockchain fee if you intend to use crypto. Processing time for deposits is instant while for withdrawals, the time is between 1 and 2 hours. However, bank transfers can take longer depending on the bank you use.

Then depending on the method you choose, the minimum deposit will vary along with the allowed currency you can use to deposit and withdraw. Look at the image below to get an idea of how the structure their payment methods.

 

 

Support Service for Customer

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JustMarkets has some of the most comprehensive customer support that we have come across from a broker. Everything from live chat to messenger apps, including Whatsapp, Telegram, Instagram, iMessage, Line, and Messenger, along with international telephonic support and Email.

Support is also available in different languages, including English, Indonesian, Malaysian, Spanish, and Portuguese. There are two international numbers you can dial to speak to live support over the phone if you prefer not to use the live chat feature that you can find on their site and those numbers are;

• +371 67 881 045
• +44 1418 461237

Otherwise, you can head to their “contact us” page, where you can request a callback or find contact details for their various departments, including;

• Business development department
• Finance department
• Compliance department

If you are more into using social media for support, then we have listed the links to all the channels below;

• Live Chat
• Telegram
• Viber
• Messenger
• Line
• WhatsApp
• Instagram
• iMessage

Also, here are the Email links to their various departments if you should need to get in touch with one of them;

• partners@justmarkets.com
• finance@justmarkets.com
• compliance@justmarkets.com

Prohibited Countries: Where Can I Not Trade with this Broker?

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Depending on the broker, where they operate (in which region), and what authorities regulate them, they are not allowed to offer services to specific countries. JustMarkets (formerly JustForex) is not allowed to operate in jurisdictions including Australia, Canada, the EU and EEA, Japan, the United Kingdom, the United States of America, and countries sanctioned by the EU.

 

 

It would help to remember that brokers are restricted in many regions due to fraud and other forms of criminal funding, and this does not necessarily mean that they are untrustworthy.

Special Offers for Customers

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JustMarkets runs three promotions: a welcome bonus, a 120% deposit bonus, and a referral program. Brokers often provide special promotions to incentivize potential new clients and even traders with accounts with other brokers.

The welcome bonus includes 30 USD. The catch is that you are not allowed to withdraw the 30 USD; rather, you can withdraw any funds you earn by trading on your welcome account. There is nothing out of the ordinary about this promotion, and many brokers offer a similar special offer when signing up for them.

 

 

For the deposit bonus there are multiple sizes of a bonus depending on how much capital you choose to deposit. For deposits up to 100 USD, you can get up to a 50% deposit. Then deposits between 100 USD and 500 USD get a 100% bonus, effectively doubling your starting capital. Lastly, for deposits that are over 500 USD, the bonus is 120%.

To acquire the bonus, you need to open an account, head to the “account operations” section and hit deposit. Select the deposit bonus checkbox and select the applicable option. That’s it.

 

 

The last promotion is JustMarket’s referral program. The basic premise is that for every person you refer to JustMarkets, you get a commission of 50 USD. You will need a referral link that you can find here. Every client that is referred gets a 150% deposit bonus, and for every successful referral, you will receive 50 USD.

 

 

JustMarkets Review Conclusion: Reputable Broker with Easy-to-use Platform

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Their customer support is amongst the most comprehensive and robust we have seen. They are also regulated by the Vanuatu Financial Services Commission (VFSC), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Sector Conduct Authority (FSCA). As such, we regard this broker as reputable and trustworthy.

PIPPENGUIN

JustMarkets (formally JustForex) is an exceptionally safe and reliable broker and is a good choice if you are looking to mainly trade forex and crypto. Founded in 2012 and based in Belize, this company holds numerous brokerage awards and has thousands of sterling customer reviews (the highest rating we have come across so far).

Their customer support is amongst the most comprehensive and robust we have seen. They are also regulated by the Vanuatu Financial Services Commission (VFSC), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Sector Conduct Authority (FSCA). As such, we regard this broker as reputable and trustworthy.

Summary and Key Takeaways

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JustMarkets deals only in forex and crypto and have trading accounts that utilize VPS hosting. The account types are typical when looking at a forex broker, and these accounts will suit most (if not all traders). They offer three ongoing special promotions, including a welcome bonus, deposit bonus and referral program in which anyone can participate in.

In terms of trading platforms, they offer MT4 and MT4, which are available on all platforms except iOS. Then they also include a web terminal and MetaTrader mobile for both versions of MetaTrader.

FAQs

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