JustForex

Regulation: Founded in 2012, JustMarkets was unregulated for almost 10 years, briefly holding an FSC (Belize) licence in 2013.

The company recently received a licence from the FSA of Seychelles, through which Malaysian traders are onboarded. While the FSA regulates brokers, it is not considered a strict regulator and only requires brokers to demonstrate $50,000 in operating capital. Importantly, Malaysian traders will have few options for resolution if they end up in a dispute with JustMarkets. 

Safety Features: According to its website, JustMarkets segregates all funds from the company’s operating capital and offers negative balance protection to all its clients.   

Overall, for traders looking for a trustworthy and reliable trading environment, we recommend looking at Pepperstone and XM as alternatives. 

The account-opening and verification process at JustMarkets is seamless and accounts are ready for trading immediately. 

All Malaysian residents are eligible to open an account at JustMarkets, as long as they meet the following minimum deposit requirements:

• MT4 Standard Cent Account: 1 USD
• MT4 Standard Account: 1 USD
• MT4 Pro Account: 100 USD
• MT4 Raw Spread Account: 100 USD
• MT5 Standard Account: 1 USD
• MT5 Pro Account: 100 USD
• MT5 Raw Spread Account: 100 USD

1. From the JustMarkets homepage, you will have to click on the ‘Registration’ tab where you will be directed to register an account with a name, email address, and password.  
2. Next traders will have to complete a profile with their name, telephone number, and date of birth.
3. Traders can then deposit funds into their accounts and begin trading.  
4. In order to use the full range of services available at JustMarkets and to be able to withdraw funds, JustMarkets requires the following documents:
   1. Identification – High-resolution scanned copies or photos of an identity document, which verifies your person with a full name, photo, signature, date of birth, and expiration date that are clearly visible and which are valid for at least six months from the moment of applying.
   2. Address of Residence – High-resolution scanned copies or photos of a document where your full name and address are clearly visible and match the data indicated in your profile. The document should be issued no later than three months ago.
   3. Credit Card – Credit Cards verification is not required for CUP (China Union Pay) cards. Please note: card verification is required only if you want to use Visa/MasterCard as a deposit and withdrawal method. 

Overall, JustMarkets’s account-opening process is fully digital and hassle-free and accounts are ready for trading immediately.

The selection of CFD trading instruments available at JustMarkets should be considered the bare minimum and inadequate for professional clients.

JustMarkets’s accounts have minimum deposits that vary between 1 and 100 USD, making them accessible to most traders. Spreads start at 1 pip (EUR/USD) on its entry-level accounts, which is reasonable, and tighten to 0.6 pips on its Pro Accounts, which is low for the industry. 

We opened and tested several of JustMarkets’ accounts:

MT4 Standard Cent Account

The MT4 Standard Cent account is designed for traders-beginners.  On this account, trading is denominated in US Cents.  The minimum deposit is 1 USD, leverage is up to 1000:1, spreads are average- starting at 1.00 pips – and no commission is charged.  Note that lots are measured as 1,000 USD, and minimum transaction orders are 0.01 cent lots.  

MT4/MT5 Standard Accounts

The minimum deposit on the Standard Account is 1 USD.  Leverage is high on this account, up to 3000:1, spreads start at 1 pip on the EUR/USD, which is wider than other brokers, no commissions are charged, and the minimum transaction is 0.01 lots.

MT4/MT5 Pro Accounts

The minimum deposit on the Pro Accounts is 100 USD.  Spreads start at 0.6 pips (EUR/USD), which is tighter than other brokers, leverage is 3000:1, and accounts can be denominated in 11 currencies, including ZAR. Pro accounts are commission-free, and the minimum order is 0.01 lots.

MT4/MT5 Raw Spread Accounts

Raw Spread accounts are ECN accounts on which a commission is charged – 3 USD per lot/side.  The minimum deposit on this account is 100 USD, leverage is 3000:1, spreads start at 0 pips, and accounts can be denominated in 11 currencies, including ZAR.  These trading costs are also much lower than other brokers.  

JustMarkets offers support for MT4 and MT5 mobile trading apps for Android and iOS. Traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced time frames and fewer charting options, but traders can close and modify existing orders, calculate profit and loss, and trade on the charts. 

JustMarkets offers support for the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms on both Android and iOS.  As the most widely used platforms on the market, they are simple to navigate yet offer a powerful range of features, charts, and analysis tools. MetaTrader allows immediate and accurate access to international financial markets and delivers feature-rich, user-friendly interfaces designed to fulfill all trading needs and boost trading performance.

MT4 and MT5

There is some loss in functionality when compared to the desktop versions of these trading platforms, including reduced timeframes and fewer charting options.

Overall, although JustMarkets only offers the Metatrader suite of platforms, which are not as beginner-friendly as the proprietary platforms offered at other brokers, MT4 and MT5 are considered some of the best third-party platforms in the industry.

Like all other brokers, Anti-Money Laundering rules and regulations are followed.  

Trading Account Currencies: While JustMarkets offers a huge range of trading account currencies, the MT4 Standard Cent Account is only denominated in US cents.  The other six trading accounts are denominated in 11 currencies, including USD, EUR, GBP, JPY, MYR, IDR, THB, VND, KWD, CNY, and ZAR. This is a huge range compared to other similar brokers and is good for Malaysian traders who will be able to avoid paying currency conversion fees on deposits and withdrawals. 

Deposits and Withdrawals: JustMarkets does not charge deposit or withdrawal fees except on cryptocurrencies.  Most deposits are instant, and JustMarkets takes one to two hours to process withdrawals during business hours.

Other brokers also offer additional tools such as Trading Central or Autochartist to help traders make better trading decisions.

Social Trading

Social trading is a service that allows investors to follow the trading strategy and copy the trades of professionals, also known as signal providers. JustMarkets provides a list of signal providers that are rated based on various criteria: trading period, maximum drawdowns, best trades, profit factor. Top-ranked signal providers are displayed first in the list.

Usually, the actions of experienced Forex traders are used as a guide for beginners. It reduces the time for market research and analytics before trading on Forex. Social trading is useful for traders without time for training or making independent investment decisions. 

MQL5 Signals is a product from the developers of MetaTrader 4, which allows followers to copy the signals of successful traders and copy their transactions directly from the MetaTrader terminal. 

MAM Accounts

JustMarkets offers an account management service to its clients, allowing account managers to trade on their behalf. Multi Account Manager (MAM) is the software that allows fund managers, money managers, and portfolio managers to manage multiple trading accounts simultaneously with one trading account.

The MAM software provides all the features of the regular MT4 platform, including the usage of charting packages and expert advisors. All processing is centralized and server-based, hundreds of accounts can be traded with one click, and there is virtually no delay in allocations.

ForexVPS

JustMarkets recommends using a VPS service provided by Vultr.com.  Traders will have to contact the VPS provider directly to find out the costs associated with using the service.

VPS services ensure that trades are never disrupted by technological or connectivity issues, such as load-shedding or internet service failure. This benefits algorithmic traders who need to be connected to a server 24/7 to maximise uptime.  Other benefits of the VPS service include:

• 24/6 VPS email support
• 24/7 Redundant power to your VPS
• 24/7 Redundant internet connectivity to your VPS
• Low latency connectivity to FP Markets trading servers for precision trading
• Uninterrupted EA trading

Overall, JustMarkets would do well to add some more tools to its trading arsenal to help clients make better trading decisions. Brokers such as Pepperstone and XM provide a range of trading tools to help traders make better decisions.

JustMarkets’s market analysis materials are better than many other brokers.  They are comprehensive and frequently updated.  

JustMarkets provides an up-to-date Market Overview, Market News, and technical analysis in addition to daily forecasts and an Economic calendar.  

JustMarkets’s in-house team of analysts provides updates on various market events.  These materials are updated daily and are freely available to all visitors to the site.

Traders also receive multiple updates throughout the trading day, consisting of brief fundamental summaries, technical trading alerts, and cryptocurrency analysis. Some content is text-only, and the rest includes charts and trading ideas.

JustMarkets also offers an economic calendar, a comprehensive log of all scheduled macroeconomic releases.

JustMarkets provides beginner traders with various educational materials, including training webinars, educational videos, a glossary of terms, and an array of articles.  

• Forex Articles: JustMarkets offers many articles, and while the quality of the content is decent, it is difficult to find what you are looking for.  
• Educational videos: JustMarkets’s videos are comprised of 5 short tutorials on how to use the Metatrader platforms.
• Training webinars: Although it states that it offers webinars, traders will only be able to find an archive of previous webinars linked to JustMarkets’s YouTube channel.  There are no future webinars scheduled.  
• Demo Accounts: JustMarkets allows traders to test their strategies by opening a free demo account. Demo trading is a simulation of real Forex trading.  Traders are given a virtual currency balance of 5,000,000 USD and an unlimited time to gain experience on the Metatrader platforms, using all account options without the risk of losing real money. 

Help is available 24/7 (only in English) and during business hours for Indonesian and Malay via telephone, email, messenger, and live chat.  JustMarkets also offers a call-back option. 

For the purposes of this review, we found customer service responsive, polite, and extremely helpful.