JP Markets was a registered broker in South Africa offering forex, indices, stocks, and commodities with leverage up to 1:2000, with spreads starting at 0.5 pips on the MT5 trading platform, and it seemed attractive to many traders with a minimum deposit of R100, but its history and user responses raised doubt and concern.
Regulation and Licensing
- Regulated in South Africa, licensed by FSCA (License No. 46855).
- JP Markets was licensed and approved by the FSCA, but there have been several complaints from users about transparency and withdrawal delays.
- JP Markets’ regulatory status exceeds its present status, raising concerns from traders.
Trading Features
- Leverage: Up to 1:2000
- Spreads: From 0.5 pips
- Platform: MT5
- Deposit: R100 minimum
User Reviews and Complaints
Given a 3.5 trust score on Trustpilot, it has an inconsistent reputation. Some clients appreciated third-party recovery services retrieving their funds. However, many traders reported issues surrounding withdrawals, downtime in the platform, and continuous document requests. It holds only 1-star on Forex Peace Army, and users find it unreliable.
Key Issues Reported
- Unresponsive customer support for withdrawal requests.
- Downtime on the server prevents them from logging in or recovering their account.
- Excessive requests to submit documents are creating delays in the withdrawal process.
- Allegations of accounts being blocked with no resolution.
FAQs
Is JP Markets regulated?
Yes, JP Markets is authorized by the FSCA in South Africa, although this has not stopped multiple traders from filing complaints.
What is the minimum deposit?
R100 is required as the minimum deposit, making access possible but risky, based on the broker’s track history.
Can I trust JP Markets?
While some users experienced success, a review of Reviews and discussion forums shows deposit and withdrawal difficulty and a lack of both transparency and broker response to withdrawal requests.
Final Verdict
JP Markets is an attractive low deposit account option and high leverage, but user posts below show real hesitation with dealing with the broker. I recommend that all traders proceed with caution after careful review and consider carefully before placing their hard-earned money to deposit.
Reclaim Your Funds & Trustworthy Support
If you’ve experienced a broker who does not properly process your withdrawal, if you’ve encountered account access delays, or if brokers such as JP Markets simply do not respond, you’re not alone. Proupshot has been committed to supporting both traders and investors who are struggling with lost funds.
Proupshot has demonstrated experience with resolving complex disputes with brokers, including pending funds dealing for the misconduct of brokers. Proupshot will work with you to advise you on how to address the legal obligations associated with the inappropriate report of the misconduct of brokers, pursue transaction tracking and resolutions, and claim back what you deserve.
It’s unreasonable for your hard-earned funds to remain tied up with unregulated or uncooperative brokers. Guide your next steps and recover financially starting today.
Read the Proupshot claims process to learn more about what professionals can help you regain.
For updates, follow us on:
Also, read QuilCapital Review
Leave a Reply