JP Markets Review 2024

1.5 / 5
JP Markets is #108 in our CFD broker rankings.

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.

- Daytrading Review Team

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.

Forex CFDs, indices, stocks, commodities, cryptocurrencies
200% deposit bonus up to R280,000
Skrill, Credit Card

Forex Trading

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.

Stock Trading

Traders can access shares in major global companies, though the broker is not transparent when it comes to market access and fees. We recommend testing out the stock broker using a demo account before trading with real funds.

CFD Trading

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.

Crypto Trading

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.


  • 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

✓ Pros

  • 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

  • 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

JP Markets is an online forex and CFD broker based in Johannesburg. After opening a demo or live account, users can sign in and start trading on the award-winning MetaTrader 4 (MT4) platform. This review will detail JP Markets’ welcome bonus, the login process, how to contact the chat help desk, and more.

Company Details

JP Markets was founded in 2016. Its owner and CEO, Justin Paulsen, aims to become Africa’s leading forex broker, and has made strides towards doing so. The company now has offices in South Africa’s Johannesburg, Polokwane, Bloemfontein, Cape Town, and Pretoria, in addition to operations in Swaziland, Kenya, Pakistan, and Bangladesh.

JP Markets is regulated in its home country of South Africa, holding a license with the Financial Services Board (FSB). Regulatory oversight from the FSB helps prevent scams and many fraudulent forex brokers operating in Africa have been exposed by the FSB.

Trading Platforms

JP Markets offers the downloadable MetaTrader 4 (MT4) platform. Considered the gold standard for retail forex trading, MT4 can be downloaded to Windows and Mac devices. The MT4 terminal is responsive while the setup and interface is customisable.

Once you’ve signed in, you’ll find a wealth of trading tools at your fingertips. There are nine standard chart timeframes, 30 built-in technical indicators, plus thousands of additional price indicators available from the Market. Multiple order types are available, as well as risk management features.

JP Markets MT4 platform facilitates trading in multiple currencies, including GBP, EUR, USD, SGD, and PLN, and is available in 30 different languages.

JP Markets MT4 trading platform
JP Markets MT4 trading platform

Note, MetaTrader’s MT5 and Web Trader platforms are not available with JP Markets real trading accounts.

Recommended Alternatives To JP Markets

CFDs are not available to residents in the United States.


JP Markets offers forex and CFD trading across 5,000 global markets, including:

Spreads & Commissions

Spreads at JP Markets start from 0.7 pips with average spreads on the likes of EUR/USD 2 pips. This, coupled with a $10 commission per lot on the broker’s ECN and STP accounts makes them expensive to trade with. If you take JP Markets vs Pepperstone, IB, or XM, for example, spreads and commissions are relatively high.

In terms of additional costs, the broker charges an inactivity fee as well as a rollover fee for positions held overnight. Fortunately, JP Markets reduce costs in other areas. For example, there are no deposit or withdrawal fees, which is a useful bonus.


Flexible leverage up to 1:500 is available. With that said, maximum leverage is usually extended to professional traders with retail customers able to access leverage up to 1:200. Leverage levels do also vary between instruments.

Overall though, JP Markets offers generous leverage, in part due to the relatively relaxed regulatory requirements in South Africa. For traders, this means the ability to take much bigger positions than would usually be allowed in Europe, for example. And while it does increase the risk of potential losses, it also increases the potential for large returns.

Margin requirements and the margin call process can be discussed with a member of the JP Markets team. The contact details for which are listed further below.

JP Markets Mobile App

The JP Markets mobile app promises total account control while on the move. From the mobile dashboard, users can make deposits and withdrawals, open real live accounts, and browse educational resources. The mobile app can be downloaded to both Android (APK) and iOS (Apple) devices.

JP Markets mobile trading app platform
JP Markets mobile trading

Note, the broker’s app is regularly updated to improve the user experience.

Payment Methods

A decent range of deposit and withdrawal options are available to JP Markets clients.


Funding your account is possible through:

Deposits usually appear in your trading account the same day but can take up to 24 hours. Clients can fund their account using local currencies. JP Markets has bank accounts with Absa, FNB, Standard Bank and Nedbank, details of which are available on their website. For ECN and STP accounts, there is no minimum initial deposit, so traders can choose an amount they’re comfortable with.

In terms of how to deposit funds, from your account area, select ‘deposit’, then choose your currency and payment method, and follow the instructions. There are no fees for deposits or withdrawals.


Withdrawals are processed Monday to Friday from 9 am to 5 pm, GMT +2 (South African Standard Time). Unfortunately, there are a few security hurdles to jump through as part of the withdrawal process:

  1. Log into your secure members’ area to request an internal transfer from your trading account to your landing account.
  2. Select ‘Transfers’ and then ‘Internal Transfers’.
  3. Enter the amount you would like to withdraw, noting the ‘from’ account is your trading account while the ‘to’ account is your landing account.
  4. Upload relevant documents to ensure prompt account validation and payment processing, including ID, proof of address, and banking details, including account number.

Once the Finance department has processed the payment request, withdrawals are processed within four hours.

Overall, if you take JP Markets vs popular providers in Africa, such as Exness and Globex360, the broker offers a decent range of payment options, minimal fees, plus prompt processing times.

Demo Account

JP Markets does offer a demo account. The practice account simulates live trading conditions, using real market data and leverage. The only difference is virtual cash is used.

To open a new demo account:

  1. Navigate to the Dashboard
  2. Select ‘Open Account’ underneath ‘My Trading Account’ section
  3. Hit ‘Open New Trading Account’
  4. Select your base currency
  5. Choose between account types (ECN or STP)
  6. Enter secure login credentials and select ‘Submit’

Welcome Bonus

JP Markets offers a 200% free deposit welcome bonus up to R280,000 or USD equivalent. The 2020 bonus is applied automatically and is compatible with mobile and desktop deposits. However, withdrawal terms and conditions state that you cannot withdraw the bonus credit.


JP Markets is regulated by South Africa’s Financial Services Board (FSB), license number – 46855. The broker is currently under investigation concerning customer complaints, and as a result, their license has been suspended. We recommend waiting until JP Markets has resolved their regulatory issues before registering for a new account.

JP Markets client funds are segregated from company capital and monitored daily by a third-party auditor. Indemnity insurance is also in place along with negative balance protection.

Additional Features

JP Markets stands out for its beginner trading courses. Forex novices can sign up for free lessons and online webinars. There are video tutorials on a breadth of topics, including pattern analysis, the VIX 75, and trading strategies. Also available on the broker’s website is an economic calendar, trading workshops, how-to documents, plus JP Markets Telegram – an online forex trading community. In addition, JP Markets COVID-19 market insights have gained attention across Africa, particularly among traders from Zimbabwe.

JP Markets economic calendar
JP Markets economic calendar

Copy-trading and automated trading capabilities would be a welcome addition to the broker’s current offering. So too would a signals service, although the broker does send optional market information via SMS, sometimes several times a day.

Account Types

There are several types of JP Markets accounts. When you open a real live account, you can choose between ZAR, USD, and GBP based options. Also, you can choose between an ECN or STP model. The ECN zero spread account comes with a commission charge per trade while with the STP model, the broker takes its fee from the spread.

When it comes to account registration, you will need to supply FICA documents, which include proof of ID and address. Each investor account type promises a secure login process and a members’ area to navigate resources and account features.

Trading Hours

Trading hours at JP Markets depend on the instrument but tend to follow normal market operating hours. As a result, trading forex and stocks is predominantly a weekday activity while cryptocurrency trading takes place in decent volumes over the weekend.

JP Markets Customer Support

Support is available to customers through several channels:

The website also has a fairly extensive FAQ section and an online query form. Customer service agents are pretty knowledgable and able to help with login issues, account verification, plus client area server issues. They can also advise what to do if an internal payment transfer is declined.

Our only constructive criticism would be that support times could be improved. It can be several minutes before you get through to anyone on live chat or using the telephone helpline.

For the latest JP Markets news, follow the broker on social media:

Specific contact details and zip codes for the Johannesburg headquarters address and the broker’s other offices can be found on the JP Markets website.

Safety & Security

Website encryption is used to create a secure trading environment at JP Markets. The MetaTrader 4 platform also comes with a one-time-password (OTP) for an additional layer of security.

Is JP Markets A Good Broker?

JP Markets is one of the best-known forex brokers in South Africa. It’s particularly good for beginners with free training courses and online webinars. The mobile app and reliable MT4 platform also ensure a high-quality trading experience. With that said, we would like to see tighter spreads, automated trading, and better customer support. And until the broker’s license is fully operational, we’d recommend holding off registering for a new account.

Popular Alternatives To JP Markets

CFDs are not available to residents in the United States.

Top 3 Alternatives to JP Markets

Compare JP Markets with the top 3 similar brokers that accept traders from your location.

  1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
    Go to IG
  2. Swissquote – Swissquote is a Switzerland-based bank and broker that offers online trading and investing. The company has a high safety score and is listed on the Swiss stock exchange. The firm offers a huge range of products, from stocks, ETFs, bonds and futures to 400+ forex and CFD assets. Hundreds of thousands of traders have opened an account with the multi-regulated brokerage. Clients can get started in three easy steps while 24/7 customer support is available to assist new users.
    Go to Swissquote
  3. Pepperstone – Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
    Go to Pepperstone

JP Markets Comparison Table

Compare JP Markets With Similar Brokers
JP Markets IG Swissquote Pepperstone
Rating 1.5 4.4 4 4.8
Markets Forex CFDs, indices, stocks, commodities, cryptocurrencies CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Forex, CFDs, Indices, Stocks, ETFs, Bonds, Options, Futures, Cryptos (location dependent) CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
Demo Account Yes Yes Yes Yes
Minimum Deposit $0 $0 $1000 $0
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Bonus 200% deposit bonus up to R280,000
Education No Yes No Yes
Platforms MT4 Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral MT4, MT5, AutoChartist, TradingCentral MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
Leverage 1:400 1:30 (Retail), 1:250 (Pro) 1:30 1:30 (Retail), 1:500 (Pro)
Payment Methods 2 6 5 11
Visit Visit Visit Visit Visit
Review IG

Compare Trading Instruments

Compare the markets and instruments offered by JP Markets and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare JP Markets Trading Instruments
JP Markets IG Swissquote Pepperstone
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil No Yes Yes Yes
Gold Yes Yes Yes Yes
Copper No Yes No Yes
Silver No Yes Yes Yes
Corn No No No Yes
Crypto Yes Yes Yes Yes
Futures No Yes Yes No
Options No Yes Yes No
ETFs No Yes Yes Yes
Bonds No Yes Yes No
Warrants No Yes No No
Spreadbetting No Yes No Yes
Volatility Index No Yes No Yes

JP Markets vs Other Brokers

Compare JP Markets with any other broker by selecting the other broker below.


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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.


What is JP Markets?

JP Markets is one of Africa’s top-rated forex trading brokers. Their website invites retail traders from around the world to create an account and trade their forex and CFD products.

How do I deposit money into my JP Markets trading account?

To deposit funds into your JP Markets account, select ‘Deposit’ from your account area, choose your currency, and select your preferred payment method. Then follow the on-screen instructions. Note, you may need to use your MT4 account number as the payment reference.

What is the minimum deposit for JP Markets?

JP Markets does not have a rigid minimum deposit policy. Traders are free to deposit however much they are comfortable with. However, the broker does recommend depositing approximately R3 000.

Does JP Markets have KWD?

Yes – you can fund your account with Kuwaiti Diner (KWD). And as with all JP Markets accounts, you can earn interest on the balance of your trading account.

Does JP Markets support scalping?

No – JP Markets does not allow scalping. Hedging and automated trading also aren’t possible on the online trading platform.