Are you planning to open an account in the JP Markets and in search of a review that will assist you in knowing all the details related to the broker? If yes, then you have landed at the right place. Forex trading is getting immense popularity, and many people want to try their luck in forex trading so if you are one of them then dive into the article.
What is JP Markets?
JP Markets can be defined as the forex broker based in South Africa. It was established in 2016. The FSB regulates them. In addition, they offer multiple financial instruments such as Metals, Indices, and Shares based on CFD and Forex.
Pros and Cons of JP Markets
In this section, we are going to shed light on the pros and cons of the JP Markets. So, have a look:
Pros
- There is no fixed minimum deposit.
- Multiple deposit options
- No deposit or withdrawal fees
Cons
- Withdrawal may take a long time.
- Multiple negative reviews
What is the working principle of JP Markets?
JP Markets operate on the STP model. It means that they give investors the trading platform, and through the help of quotes, they connect your orders to the market received by the liquidity providers.
Options for deposition
It is the exception of JP Markets that it accepts the local deposits from their customers. Here we would like to share the list of payment options:
Bank accounts such as FNB, Absa, Nedbank, and Standard bank.
It allows various payment gateways as well, for instance, Skrill and Bitcoin.
Minimum deposit of the JP markets
Although there is no restriction of minimum deposit on the platform of JP Markets. But it is recommended to deposit at least $200 or R3,000 as JP Markets minimum deposit if you want to enjoy all the tools and services offered by JP Markets, such as education material, so if you are a newbie, it will surely assist you to a great extent.
Education
Whenever you go for a forex trader, it is significant to see whether they provide the good education material or not. Fortunately, the JP markets have online trading courses that can lend a helping hand in enhancing your knowledge regarding the complications of the forex world. In addition to that, the fundamental analysis, online courses, videos, and news feed provided by the JP markets are extremely helpful.
Final Thoughts
To sum up the article, we would like to say that JP Markets is the forex broker operating their services in South Africa. So, if you are a newbie who wants to enter forex trading and search for a broker that does not ask for a fixed minimum deposit, then it is an option that you may avail if you are satisfied..
But we think it is significant to mention that many people aren’t happy with their services, and some customers have charged scam allegations. So, we think that authorities should look into the matter and solve the problems of customers. If you have any query feel free to ask in the comments section.
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