In this detailed JustMarkets review, we will explore the key aspects of this broker. This will include its regulatory status, trading platforms, account types, and other features of the broker. We will also weigh the pros and cons of trading with JustMarkets to provide a comprehensive overview for potential traders.
JustMarkets Review: Overview of the Broker
 Formerly known as JustForex, this is a prominent online forex and CFD broker that is based in Saint Vincent and the Grenadine. The broker offers multiple trading instruments, competitive spreads, and multiple account types which cater to both novice and experienced traders. Operating under the legal entity Just Global Ltd, JustMarkets positions itself as a reliable broker in the competitive forex market.
Let us now consider the pros and cons of the broker, which is the main focus of this JustMarkets review.Â
JustMarkets Review: Pros
1. Wide Range of Tradable Instruments
JustMarkets provides an extensive selection of trading instruments, allowing traders to diversify their portfolios across multiple asset classes. The availability of over 100 currency pairs, various commodities, indices, and cryptocurrencies makes it possible for traders to explore numerous market opportunities.
2. Competitive Spreads and Low Trading Costs
One of the standout features of JustMarkets is its competitive spreads. The broker offers different account types, each with varying spreads and commission structures. For instance, the Standard Account offers spreads starting from 0.0 pips on major currency pairs, while the Pro Account provides tighter spreads at the cost of a small commission per trade. This flexibility allows traders to choose an account type that aligns with their trading style and budget.
3. High Leverage Options
JustMarkets offers high leverage, allowing traders to control larger positions with smaller amounts of capital. Depending on the account type and the asset class being traded, leverage can be as high as 1:3000 for forex trading. This high leverage is particularly appealing to experienced traders looking to maximize their potential returns.
4. Multiple Account Types
JustMarkets caters to a wide range of traders by offering various account types, including:
Â
Standard Account: Aimed at beginners, this account has no commission fees and offers competitive spreads.
Pro Account: Suitable for more experienced traders, this account features lower spreads with a small commission.
Islamic Account: Compliant with Sharia law, this account does not incur swap fees for overnight positions.
The availability of different account types allows traders to choose one that best suits their trading preferences and strategies.
5. User-Friendly Trading Platforms
JustMarkets supports two of the most popular trading platforms in the industry: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms are known for their user-friendly interfaces, extensive charting tools, and support for automated trading through Expert Advisors (EAs).
6. Robust Educational Resources
JustMarkets provides a range of educational resources designed to help traders improve their skills and market knowledge. The broker offers webinars, video tutorials, market analysis, and trading guides covering various topics. This educational content is beneficial for both new and experienced traders seeking to enhance their understanding of the financial markets.
JustMarkets Review: Cons
Despite its many advantages, JustMarkets does have some drawbacks that potential traders should consider.
1. Weak Regulatory Oversight
JustMarkets operates under the jurisdiction of Saint Vincent and the Grenadines, which is considered a less regulated environment compared to other major financial centers like the UK or Australia. While the broker claims to adhere to strict internal policies and standards, the lack of robust regulatory oversight may raise concerns for traders prioritizing security.
2. Limited Customer Support Options
While JustMarkets does offer customer support via email and live chat, some traders have reported limited availability of support agents during non-business hours. Additionally, the absence of phone support can be a drawback for traders who prefer direct communication when resolving issues.
3. Withdrawal Processing Times
Although JustMarkets does not charge withdrawal fees, the processing times for withdrawals can be longer than expected, especially for bank transfers. Some traders have reported waiting several days for their withdrawal requests to be processed, which can be inconvenient.
4. Inactivity Fees
JustMarkets charges an inactivity fee for accounts that remain dormant for a certain period, typically six months. While this practice is common among brokers, it can be an annoyance for traders who do not trade frequently but wish to keep their accounts open. Inactivity fees can gradually deplete an account balance over time, which may frustrate traders who are not consistently active in the markets.
Conclusion
JustMarkets offers a solid trading environment for both beginner and experienced traders, with its wide range of tradable instruments and various account types. The broker’s support for popular trading platforms like MT4 and MT5, along with its educational resources, enhances the overall trading experience.
However, the lack of strong regulatory oversight, limited customer support options, and longer withdrawal processing times are significant drawbacks that potential traders should consider.
It is essential to weigh the pros and cons carefully to determine if it aligns with your individual trading needs and. This is what this JustMarkets review has offered you.
Frequently Asked Questions
Is JustMarket Broker a reliable and secure broker?
- JustMarket Broker prioritizes client security, complying with industry standards, including segregated client accounts, SSL encryption, and regular security audits. However, their regulatory licenses are limited to offshore jurisdictions.
What is JustMarket Broker and what services do they offer?
- This is a Forex and CFD brokerage firm offering online trading services in various financial instruments, including currencies, commodities, indices, stocks, and cryptocurrencies. They provide trading platforms, market analysis, and educational resources to individual and institutional traders.
How does JustMarket Broker compare to other Forex brokers?
- JustMarket Broker competes with other Forex brokers in terms of spreads, commissions, trading platforms, account types, customer support, education, and regulatory compliance. Comparing JustMarket Broker with other brokers can help determine if they meet your specific trading needs.
Â