JP Markets Review

1.138 · 42 REVIEWS
Updated: May 16, 2021 · JPMarkets.co.za  · Is this your company?

JPMarkets is a forex broker. JP Markets offers the MetaTrader 4 and Mobile forex trading top platform. JPMarkets.co.za offers over 25 forex currency pairs, cfds, stocks, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

JP Markets
2020-06-19:  The South African FSCA has privisionally suspended the license of JP Markets.  This was done because "there is reasonable belief that substantial prejudice to clients or the general public may occur if they continue rendering financial services."

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Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $1
Established: 2016
Address: Black River Office Park 2 Fir Street, Observatory, Cape Town Gatehouse, Building, 2nd Floor, South Africa
Contact: support@jpmarkets.co.za, 0878280576
Regional offices:
Regulators: FSB #FSP 46855
Prohibited countries:
Trading platforms: MT4, Mobile Trader
Mobile Trading: Yes
ECN: Yes
Currencies: (30+)
Cryptocurrencies: (4) Bitcoin, Litecoin, Ethereum
CFD: (125+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
Deposit Methods: VISA, MasterCard, iPay, Local Bank Transfers, M-Pesa, PayFast, Skrill, SnapScan
Withdrawal Methods: VISA, MasterCard, Local Bank Transfers, PayFast, Skrill

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1.138 · 42 REVIEWS
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Traders Reviews

gift,
johhanesburg, South Africa,
Apr 21, 2020,
Guest

biggest scam/scum

Service use: Live

Length of use: 6-12 Months

As soon as you hear jp markets run, biggest scam ever. manipulation at its best form, had many of my orders moved by more than 15 pips from my initial order price,higher spreads specifically at market closure, many unethical practices from this broker.
 
Walvis bay, Namibia,
Apr 19, 2020,
Registered user

JP markets Scammers

Service use: Live

Length of use: 0-3 Months

They don't deserve even a one star don't waste time trading with JP markets, aren't reliable at all, I made a deposit two weeks back but it's not showing in my account, I tried several times to contact them but to no avail, I'm disappointed
 
Rustenburg, North West, South Africa,
Apr 16, 2020,
Registered user

Dealing Desk scammers

Service use: Live

Length of use: over 1 Year

Ummm, Where do I start?

- Spreads, their spreads are so high, even on their ECN(fake) account their spread is the same as that of their Standard account except it's worse because you pay commission on top of high spreads.
- Their trading conditions change without prior notice.
- Their website is always problematic.
- They are a pure market maker, they create their own liquidity and trade against their clients and have no liquidity providers.
- Their chart history is so limited I had to use another broker's charts for analysis.
- Their customer support is actively ignoring clients.

Be warned, stay away from this broker, you are better off with brokers that have good regulations.
 
Nnyo, South Africa,
Apr 10, 2020,
Registered user

Worst dection i ever made in my life nxa

Service use: Live

Length of use: over 1 Year

This must probably be the worst broker i ever encountered in my whole entire life.....this people don't care about you all they want is you money i opened 2 real accounts 2 years back and yo this day i stull haven't traded i can't withdraw my money and regret ever depositing my hard earned money into this shitty broker i get any even thinking about it nxa Masepa fela means bull shit in my mother tough i advice anyone with a common sense not to even look at this broker....i mean look at all the reviews no one is happy this broker is kak masepa fela nxa...i despise you people taking advantage of people like us who actually work for our money and not it from people with lies and fales statements nxa voetsek ebile
 
Marcus,
Pimville, South Africa,
Apr 8, 2020,
Guest

POOR CUSTOMER CARE SERVICE

Service use: Live

Length of use: over 1 Year

If you want headaches and frustrations try emailing their support channel, or open a ticket. They NEVER Respond, you just languish with your problem and watch them post how they are the best broker in Africa.
 
Krugersdorp, South Africa,
Apr 7, 2020,
Registered user

Jp markets fraudulent activity alert

Service use: Live

Length of use: 0-3 Months

Good day I just wanted to alert a very suspicious activity on my trading account I funded my account on 23 of March 2020 with amount of 1701usd which I traded for about 2 hours to 4344usd I then moved my funds to my wallet when I closed all my trades they then reversed all my trades back into my account and entered trades on my behalf which wiped my account I've been trying to resolve the issue with them but CEO justin Paulsen just replied and said he forwarded my query to date they still haven't rectified the issue
  1 trader has found this review helpful
3914106, South Africa,
Apr 2, 2020,
Registered user

This broker is keeping my money for no reason. No response from them.

Service use: Live

Length of use: 0-3 Months

I started using this broker a month ago. Started by losing then eventually made profits but thats when the problem started. I tried withdrawing and then they cancelled my withdrawal claiming that they wanna make their system better so that I can withdraw faster. After that I placed the withdrawal again and still hasn't been processed ever since. It's been over a month now they just ignoring my emails and when I call the agents tell me they can't help I have to email the withdrawal department.
 
Johannesburg, South Africa,
Mar 29, 2020,
Registered user

Lost R100000 trading capital and R24000 withdrawal request

Service use: Live

Length of use: 0-3 Months

We had deposited R100000 to JPMarkets for copytrading via the Boss Lady Network and in November, even though the BLN provided all the evidence and tried to resolve the matter with Justine and Shelley, we have not had a resolution to this matter because Justin (CEO) does not want to admit that their copy trading system increased the trading lot size to 4.00 and resulted in account capital being depleted. Shelley admitted that Justin did not understand how the copytrading works and he refused a meeting between himself and BLN.
  1 trader has found this review helpful
Bloemfontein, Free State, South Africa,
Mar 24, 2020,
Registered user

Poor customer care services

Service use: Live

Length of use: 3-6 Months

Withdrawals are approved but no deposit has been made into my account . Proof of withdrawal has been provided multiple times on their customer support emails .. They will respond but never provide assistance in helping solve the problem and continuously ask of I have been assisted . I am greatly dissappinted in such terrible services.
 
Johannesburg, South Africa,
Mar 19, 2020,
Registered user

Pricing issues on GBP resulting in account close out and no response

Service use: Live

Length of use: over 1 Year

Two of my accounts were closed out 0n 6 March 2020 and I lost a significant amount of money over USD90K.

The main reason for the close out was because one pair GBPUSD sell which i had traded at 1,29550 was quoted at going at a rate of 2,29946 - an impossibility. While the broker support staff initially acknowledged in writing that they had pricing issues on the day which they were investigating. They have since disappeared and are not responding to any of my correspondence. I am yet to receive feedback on how they will remedy the situation and reinstate my accounts considering the amount of time that has lapsed and the opportunity cost of being out of the market. I sent numerous emails with no response from them. `i sent them my final demand for answers today to no avail. Still waiting!
  1 trader has found this review helpful

Frequently Asked Questions

What is the minimum deposit for JP markets?

JP Markets does not have a strict minimum deposit. Traders can invest whatever they are comfortable with.  However JP Markets recommends starting with around ZAR3,000.

Is JP Markets a good broker?

Unbiased traders reviews on ForexPeaceArmy is the best way to answer if JP Markets is a good broker. https://www.forexpeacearmy.com/forex-reviews/13589/jpmarkets-forex-brokers

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent JP Markets community discussions: https://www.forexpeacearmy.com/community/tags/jpmarkets/

Is JP Markets safe?

To define whether a company is safe or not, you'd better get to know about this company, the unbiased traders reviews on ForexPeaceArmy is the best resources to grant you such knowledge. https://www.forexpeacearmy.com/forex-reviews/13589/jpmarkets-forex-brokers

JP Markets at least is regulated with South Africa Financial Services Board under license 46855. Being regulated gives you a chance to complain to the authority if it comes down to it.

What is JP Markets?

JP Markets is an online forex retail broker. JP Markets offers a number of assets to be traded on MetaTrader 4 and JP mobile app.

  • Forex currency pairs
  • Cryptocurrencies
  • Stock indices
  • Precious metals
  • Commodities