Choosing the right forex broker is a crucial step for any aspiring trader, and JustMarkets has emerged as a contender worth exploring. Formerly known as JustForex, this broker boasts over a decade of experience and caters to traders worldwide. But with countless options available, is JustMarkets the perfect fit for you? This comprehensive review delves into every aspect of the broker, providing you with the knowledge to make an informed decision.
Company Overview
| Supported Languages | English, Indonesian, Portuguese, Spanish, Malaysian |
| Products | Currencies, Stocks, Crypto, Indices, Commodities |
| Min Deposit | $10 |
| Max Leverage | 1:3000 (FSA Seychelles), 1:3000 (FSC Mauritius) |
| Trading Desk Type | STP |
| Trading Platforms | MT5, MT4 |
Regulation and Reputation
JustMarkets operates under two entities: JustMarkets Ltd, regulated by the International Financial Services Commission (IFSC) in Belize, and JustMarkets EU Ltd, regulated by the Cyprus Securities and Exchange Commission (CySEC). This dual regulatory framework offers a layer of security for traders, especially those residing in Europe who benefit from CySEC’s Investor Compensation Fund.
The broker’s reputation is generally positive, with a stellar 4.8 rating on Trustpilot based on over 1400 reviews. This high score indicates a strong track record of customer satisfaction, further bolstered by industry awards like “The Best Broker in Asia” at the 2022 Ultimate Best Brokers & B2B Fintech Awards.
Trading Instruments and Accounts
JustMarkets offers a diverse selection of instruments for traders to choose from, including:
- Forex pairs: Over 70 major, minor, and exotic currency pairs are available, catering to various trading styles and risk appetites.
- Metals: Precious metals like gold, silver, and platinum can be traded on both spot and futures markets.
- Cryptocurrencies: Popular cryptos like Bitcoin, Ethereum, and Litecoin are available for trading against major currencies.
- Indices: Major global indices like the S&P 500 and Dow Jones Industrial Average offer exposure to broad market trends.
- Commodities: Oil, gas, and other agricultural products provide diversification opportunities for experienced traders.
JustMarkets caters to various traders by offering three account types:
- Standard Account: This commission-free account features competitive spreads and a minimum deposit of $10.
- Pro Account: Designed for high-volume traders, this account offers tighter spreads but charges commissions.
- Raw Spread: This premium account boasts the tightest spreads and superior order execution for institutional clients.
Trading Platforms and Tools
JustMarkets provides access to the industry-standard MetaTrader 4 and 5 platforms, offering a familiar and customizable trading experience. These platforms feature:
- Advanced charting tools for technical analysis
- A wide range of technical indicators
- Automated trading capabilities through Expert Advisors (EAs)
- Mobile trading apps for on-the-go access
The broker also offers its proprietary trading platform, JustMarkets Web Trader, which is a browser-based platform designed for ease of use and accessibility.
Fees and Commissions
JustMarkets stands out for its transparent fee structure. The Standard Account charges no commissions, while the Pro and Prime accounts have competitive commission rates. Spreads are generally tight across all account types, particularly on the Pro and Prime accounts.
The broker does not charge any deposit or withdrawal fees, but third-party payment providers might have their charges. It’s important to check with your preferred payment method before making any transactions.
Customer Support and Education
JustMarkets offers 24/5 multilingual customer support through live chat, email, and phone. The support team is generally responsive and helpful, although some users have reported occasional wait times.
The broker also provides a wealth of educational resources for beginners and experienced traders alike. This includes video tutorials, webinars, articles, and even a dedicated educational portal with trading courses.
Pros and Cons
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Summary
JustMarkets is a reputable and reliable forex broker with a lot to offer traders of all levels. The broker’s strengths lie in its diverse instrument selection, competitive fees, user-friendly platforms, and comprehensive educational resources. While there are some minor drawbacks like limited payment options and potential wait times for customer support, these are unlikely to be deal-breakers for most traders.
Alternative To JustMarkets
| JustMarkets | Vintage | Pepperstone | |
| Rating | 3.9 | 4.7 | 4.8 |
| Markets | Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting |
| Demo Account | Yes | Yes | Yes |
| Minimum Deposit | $1 | $50 | $0 |
| Minimum Trade | 0.01 Lots | 0.01 Lots | 0.01 Lots |
| Regulators | CySEC, FSA, VFSC | FCA, ASIC, FSCA, VFSC | FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB |
| Bonus | $30 No Deposit Bonus | 50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme | – |
| Education | No | Yes | Yes |
| Platforms | MT4, MT5 | ProTrader, MT4, MT5, TradingView, DupliTrade | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade |
| Leverage | 1:3000 | 1:500 | 1:30 (Retail), 1:500 (Pro) |
| Payment Methods | 14 | 12 | 11 |
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The Bottom Line
If you’re looking for a well-regulated and experienced broker with a wide range of instruments and competitive fees, JustMarkets deserves serious consideration. However, it’s important to carefully assess your individual needs and trading style before making any final decisions.
