Cobra Trading vs JP Markets

Cobra Trading vs JP Markets Comparison Table 2024
Cobra Trading JP Markets
3.3

Cobra Trading is #35 in our broker rankings.

1.5
United States Flag Traders from US accepted
United States Flag Traders from US not accepted

Established in 2003, Cobra Trading is a US-based brokerage specializing in equities and options contracts. The firm offers 3 powerful platforms and is aimed at professional clients or those looking for retirement accounts. Cobra Trading is regulated by the NFA and SIPC and is a member of FINRA.

JP Markets is a South African forex and CFD broker established in 2016. The broker is regulated by the FSCA in South Africa although the firm has been involved in controversy in recent years. The brokerage offers thousands of assets in ECN and STP accounts, including forex, stocks and commodities. The firm promises high-quality support, tailored services and innovation to its global traders.

Bonus Offer
200% deposit bonus up to R280,000
Comment by Reviewer
"After exploring this popular US brokerage, I think experienced stock traders who can deposit at least $30,000 to open an account with appreciate the broker’s low trading fees of $0.0015 per share." "South African traders looking to speculate on 5000+ popular markets with a $0 minimum deposit and high leverage up to 1:500 will be well served by JP Markets."
Pros
  • I’m happy with the broker’s regulatory status in the US, with oversight from reputable bodies including the SIPC, NFA and FINRA. This, coupled, with the broker’s strong reputation since 2003 is a great sign of a trustworthy firm
  • I think the choice of 3 platforms means all strategies and trading styles are catered to. All platforms offer comprehensive charting packages, with sophisticated analysis tools and advanced order types
  • I found some reasonably low fees at Cobra Trading, including shares from $0.0015, options from $0.30 and margin rates as low as 8%
  • Cobra Trading offers a good range of account types, including traditional and Roth IRA’s, plus joint, corporate and trust accounts
  • I like that Cobra Trading doesn’t enforce any minimums on trades and there are also no locate fees
  • A wide selection of 5000 instruments spanning stocks, forex, indices, commodities and cryptos
  • No fees on deposits or withdrawals plus a breadth of local payment methods for South African clients
  • Range of ECN or STP account types with ZAR, USD and GBP base currencies
  • Decent demo account for beginners with flexible leverage
  • Same-day deposits and withdrawals
  • Free forex courses and webinars
  • WhatsApp customer support
  • MetaTrader 4 integration
Cons
  • Despite the low trading fees, this broker does charge several other platform and admin fees which will soon add up, including monthly software fees from $100 and market data packages from $18 per month
  • Unfortunately, Cobra Trading isn’t going to be suitable for novices, as the minimum deposit to open an account is $30,000. I think it’s a shame that there are no beginner-friendly accounts at this broker
  • I did find that pattern day trading (PDT) restrictions will apply, though this is expected from a US brokerage
  • Higher trading fees than many brokers with wide spreads and a $10 commission per lot
  • Scalping, hedging and automated trading not permitted
  • Mainly aimed at South African clients
  • Lack of transparency on the website
  • No MetaTrader 5 software
  • Some customer complaints
  • Outdated blogs
Awards
  • South Africa’s Best Broker 2019 - Global Business Outlook
  • South Africa’s Fastest Growing Broker 2019 - International Finance
  • The Most Transparent Broker 2019 - The European
  • Forex CEO of the year South Africa 2020 - International Business Magazine
Instruments
Stocks, options Forex CFDs, indices, stocks, commodities, cryptocurrencies
Demo Account
Yes Yes
Minimum Deposit
$27,000 $0
Trading Platforms
  • Own
  • MT4
Payment Methods
Minimum Trade
$1 0.01 Lots
Regulator
FINRA FSB
Margin Trading
No No
Margin Rate
8%
STP Account
No No
ECN Account
No Yes
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
No No
Mobile Apps
Yes Yes
Auto Trading
Yes
Copy Trading
No No
Social Trading
No No
Trade Signals
Yes No
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Islamic Account
No No
Commodities
CFD Trading
CFD trading not offered Access over 5000 CFDs with high leverage up to 1:500. Trading costs are high with a $10 commission per lot, though the broker does offer accessible trading in ZAR, USD or GBP for global clients.
Leverage
1:400
FTSE Spread
19 pips
GBPUSD Spread
2.4 pips
Oil Spread
10 pips
Stocks Spread
From 0.7 pips
Forex Trading
Forex trading not offered JP Markets only offers 30 currency pairs, which does not match top brokers. Average spreads on EUR/USD are also around 2 pips, which is higher than many competitors.
GBPUSD Spread
2.4 pips
EURUSD Spread
2 pips
EURGBP Spread
2.4 pips
Assets
30
Cryptocurrency
Crypto trading not offered Some digital tokens are available, including Bitcoin, though crypto deposits are not supported. Crypto traders may want to consider a more reliable and regulated broker.
Spread
Variable
Coins
  • BTC
  • LTC
  • ETH
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
More Comparisons
Cobra Trading
vs
JP Markets
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