JustMarkets Review 2023

JustMarkets is regulated with Financial Sector Conduct Authority (FSCA) but their SA entity are not the issuer of the products. They offer ZAR base currency accounts and accept local bank transfer via EFT for deposits & withdrawals.

By Rahul Sharma  — 
Max. Leverage
per trade
Minimum Deposit
out of 20 Forex Brokers

JustMarkets is the brand name of Just Global Markets (PTY) Ltd, and they were formerly known as JustForex. They are an international forex & CFD broker headquartered in Seychelles, but with a global presence.

JustMarkets was founded in 2012, and they have been licensed with FSCA since 2021. They offer trading on range of CFD instruments.

They do offer ZAR base currency accounts & local payment methods for funding & withdrawal via bank transfers. MetaTrader platform is available after you open your account.

Read our below detailed review on JustMarkets to see our full research.

JustMarkets Pros

  • FSCA regulation
  • ZAR account base currency is available for SA traders
  • South African account funding options including EFT for bank transfers
  • Low 1 USD minimum deposit
  • No deposit/ withdrawal fees
  • Instant deposit processing time
  • Standard cent accounts for beginners
  • Moderate spreads with most accounts
  • Bonus is available
  • Mobile app is available on iOS & Android
  • 24/7 support is available

JustMarkets Cons

  • Inactivity fee
  • No cTrader platform
  • No TradingView platform integration
  • Withdrawal processing time is not instant
  • No CFDs on Bonds and ETFs for trading
  • Limited research tools
  • High Leverage of 1:3000
  • South African phone number is not listed on their website

JustMarkets South Africa – A quick look

Regulations FSCA South Africa, FSA, CySEC, FSC
Trading Account Types Standard, Standard Cent, Pro, Raw Spread
Account Currency ZAR, USD, EUR, GBP, JPY, MYR, IDR, THB, VND, KWD, CNY
Minimum Deposit $1 (USD)
Funding Methods (SA Traders) EFT in ZAR, Cards, Crypto, Skrill, Neteller
Bonus Yes
Platforms Available MT4, MT5
Max Leverage 1:3000
Swap Free Accounts Available Yes
Copy Trading Available Yes

Is JustMarkets a Regulated Broker?

JustMarkets is regulated by the following regulations, including in South Africa.

  1. FSCA: Just Global Markets (PTY) Ltd are registered with the South African Financial Sector Conduct Authority (FSCA) as a Financial Service Provider with FSP number 51114.

    By virtue of its FSCA regulation, you are protected by South African laws if any dispute arises. But it is important to note that this entity is only an intermediary & not the issuer of the products offered.

  2. JustMarkets Regulation with FSCA

  3. CySEC: JustMarkets Ltd. Is a licensed entity in EU with license no. 401/21.
  4. JustMarkets CySEC Regulation

  5. Other Regulations: JustMarkets is also regulated in oversea jurisdictions (Seychelles, Cyprus, & Mauritius) outside South Africa.
Regulator Class Location
FSCA Tier 2 South Africa
CySEC Tier 1 Cyprus
FSA Tier 3 Seychelles
FSC Tier 3 Mauritius

The broker claims to have segregated client accounts, which is important.

JustMarkets is licensed with multiple regulations, so they are considered a moderate to low risk CFD broker.

JustMarkets Account Types

JustMarkets has multiple account types which you can select during the signup proceed. These accounts include a standard account, Pro account, and Raw spread account.

JustMarkets Trading Account Types

You can open the account in 11 base currency options. The important is that you can open your trading account with JustMarkets in ZAR.

ZAR account base currency is ideal for South African traders as you avoid paying currency conversion fees when you trade in ZAR.

Other account base currencies include the major currencies USD, EUR & GBP. We have not mentioned the other currencies which are not important for South African traders.

Account Type Details  
Standard Min deposit of 1 USD, zero commission, spread from 0.3, swap free Islamic option
Standard Cent Here you can trade in US cents, and this is ideal for beginners with little capital.
Pro Min deposit of 100 USD, zero commission, spread from 0.1, swap free Islamic option
Raw Spread Min of deposit of 100 USD, 3 ZAR per side commission, zero spread, swap free Islamic option

JustMarkets has classes of accounts that suit both beginner and expert traders.

Standard cent accounts are cheaper to manage for beginners and Raw spread accounts are ideal for professional traders such as intraday traders & scalpers, who trade large volume & need to lower their brokerage costs.

JustMarkets Deposits and Withdrawals

You can fund your account through different methods. There are no extra charges for funding.

Deposit Methods at JustMarkets:

JustMarkets funding methods can be categorized into:

  • Local Banks, Cards, & Mobile Money
  • Local Wallets
  • Worldwide Cards, & Banks
  • Worldwide Wallets
  • Cryptocurrency

JustMarkets Deposit Methods

Although there are several funding methods, we will focus on the ones applicable to South African traders. Also note that JustMarkets does not charge fees on deposits and withdrawals.

Table of some deposit channels into JustMarkets

Funding channel Funding currency Min deposit Processing time
South African Electronic Fund Transfer (EFT) ZAR 5 USD Instant
Neteller ZAR, EUR, USD 5 USD Instant
MasterCard/Visa EUR, USD 5 USD Instant
Skrill, Perfectmoney, SticPay EUR, USD 5 USD Instant

JustMarkets Withdrawal Methods

Withdrawals from JustMarkets using South African EFT takes up to 3 days to see in your bank account, while eWallets are instant, and withdrawals via cards take between 4 & 7 days.

JustMarkets Funds Withdrawal Method

Withdrawal processing time via local wallets such as fasapay is instant.

Overall, the availability of local payment methods for deposits & withdrawals in ZAR via bank is considered good. But the withdrawals time via bank is slower than some other CFD brokers, although the good thing is that there are no extra charges.

JustMarkets also accepts funding via a variety of cryptocurrencies such as Bitcoin, Ethereum, & Dogecoin giving you a variety of options to choose from.

JustMarket Fees

Here is a breakdown of the fees involved when trading via JustMarkets:

  1. Spreads are Moderate: Spread on Just Markets Standard and Standard Cent Accounts starts from 0.3 pips, while spread on Just Markets Pro Account starts from 0.1. However, Just Markets Raw Spread Accounts involved no spread.
  2. Instruments Average spread on standard account
    USD/ZAR 100
    EUR/USD 0.6
    EUR/GBP 2.2
    NASDAQ 100 1.0
    Gold Vs USD (XAU/USD) 2.2
    Bitcoin Vs USD (BTC/USD 310

  3. Commissions of $6 per 100,000 units: Just Markets charges zero commission on its Standard Account, Standard Cent Account and Pro Account while it charges 3 units of the base currency per lot/side as commission on Raw Spread Account.
  4. Inactivity Fees of $5: Just Markets charges 5 USD a month after 150 days of inactivity.
  5. Gateway Charges: Although JustMarkets does not charge transaction fees both on deposit and withdrawal on all its funding methods, payment gateway providers however may charge some fee.

JustMarkets trading fees are not the lowest, but they are also not too high. The overall fees with the Raw account is low including the commissions. There is zero commission on 3 of its 4 accounts, no deposit & withdrawal fees, and low spread on major currency pairs.

JustMarket Trading Platforms

MetaTrader 4 and MetaTrader 5

JustMarkets offers both MetaTrader 4 (MT4), and MetaTrader 5 (MT5) platforms which are available on Personal Computer (PC), Android, iOS and Web Trader.

JustMarkets Trading Platforms

There is also a mobile app which is available on both Google play store and Apple Store.

The JustMarkets (JM) trading app on the Google Playstore was released on 13th December 2022 by JM Technologies, & has only 50,000 downloads, and 273 reviews with average of 4.2 star rating.

The JM app was last updated on 20th June 2023, and supports 2FA and fingerprint scanner. The required operating system is Android 5.0 and above.

JustMarkets mobile trading app specifications:

JM app release date 13 Dec 2022
Last updated on 20 June 2023
Size 4.9 MB
Operating system Android 5.0 & beyond
Downloads 50,000
Fingerprint scanner Yes

JustMarkets offers a demo account where you can learn/practise trading using virtual money in a simulated environment.

Overall, their app has very few downloads in comparison to other brokers. There is also no cTrader platform, so you are restricted to MetaTrader. The mobile app size is small at 4.9MB, which is good.

If you are interested in trading from advanced charting platforms, JustMarkets does not integrate login to TradingView.

JustMarkets Copy Trading

JustMarkets supports copy trading, which enables you to automatically copy the positions of traders.

You can join as an investor to copy trades of other traders, or as a trader to get copied. When you copy another trader, you pay them a percentage commission from your trading.

To use Just Markets copy trading, you will have to pick a trader you want to invest in on the leader board and then click “Start copying”. Thereafter, the experienced traders’ position will automatically be copied as yours.

Note that while copy trading is a feature supported by many brokers, there are risks involved. You should be very careful & do your due diligence.

JustMarkets Instruments

Here are the instruments which you can trade on JustMarkets under their FSA regulation.

Assets Class Quantity Leverage
Currency Pairs 60+ Currency Pairs Including Major, Minor and Exotic Pairs. 1:3000
Commodities 10 commodities including Brent crude oil, WTI light, US Natural Gas and precious metals such as Gold, Silver and Platinum 1:3000
Shares 100+ Stocks including Apple, Tesla, Netflix, Amazon, Coca Cola and Facebook. 1:3000
Indices 14 indices including NASDAQ 100, UK 100, US 30, HK50 and DE40 1:3000
Crypto 14 Cryptocurrency assets including Bitcoin, Cardano, Dogecoin, Ethereum, Ripple and Solana. 1:3000

JustMarkets instrument offerings don’t include CFDs on Government bond and treasuries for trading.

JustMarkets Bonus and Promotions

The following promotions are available currently at JustMarkets for traders based in South Africa:

  1. 30 USD welcome bonus: JustMarkets offers new users a welcome bonus of 30 USD which you can use to trade. You can also withdraw the profit you make while trading using your welcome bonus, but you should read the terms of the bonus.

    To be eligible for Just Markets welcome bonus, you need to sign up with JustMarkets Broker and open a Welcome Account.

    JustMarkets Welcome Bonus

    To have access to your profit, you are required to trade at least 5 lots within a 30-day period while the profit or loss of a transaction must be at least 6 pips.

  2. 120% deposit bonus: Standard Cent account holders can get a bonus of 50% on all deposit of 100 USD, while Pro and standard accounts get up to 120% bonus on deposits of 500 USD and above.
  3. Bonus Condition
    30 USD Open a welcome account
    50% Deposit up to 100 USD
    100% Deposit between 100 & 500 USD
    120% Deposit above 500 USD

    JustMarkets has multiple promotions, but you must read their terms. If you are a new trader, them you can open a welcome account to qualify for 30 USD welcome bonus.

    JustMarkets Customer Support

    JustMarkets offers customer support through different channels. 24/7 English customer support is available through phone number and email message.

    JustMarkets Contact Information

    1. Live Chat: We tested their live chat & it was responsive. We did experience some hold time.
    2. Email: We got a response to our email on the same day, so we consider It to be okay.
    3. No Local Phone Number: We could not find a South African phone number for support on their website. But there are other methods for a phone support.

      You can also request a call-back on JustMarkets Broker by filling the Call-back Request Form. Just Markets also offers support via live chat, Facebook Messenger, Telegram, Viber, Instagram iMessage and Line.

    JustMarkets Verdict

    Overall, JustMarkets is a broker that you can sign up with for trading currencies in South Africa.

    Their spreads are moderate, they offer ZAR account & local payment methods. MetaTrader platform is available for trading & you can trade CFDs on multiple asset classes.

    But there is unavailability of a local phone number. And while JustMarkets is FSCA regulated, it only acts as an intermediary & is the provider of the product is their foreign entity.

    JustMarkets South Africa FAQs

    What is Minimum Deposit in ZAR at JustMarkets?

    JustMarkets minimum deposit is 1 USD or its ZAR equivalent of approx. R20 on its standard and standard cent accounts. While it is 100 USD on the Pro and Raw Spread accounts.

    Minimum deposits further varies on both Standard and Standard Cent Accounts depending on the method used. For instance, minimum deposit via MasterCard is 5 USD while minimum deposit through Bitcoin is 7 USD.

    Does JustMarkets offer ZAR Account?

    Yes, you can open your trading account at JustMarkets with ZAR as your account’s base currency. There are no extra charges for this.

    Is JustMarkets regulated?

    JustMarkets is registered in South Africa with FSCA under the name Just Global Markets (PTY). They are also licensed with CySEC. But do note that the issuer of their derivative products is their foreign entity under FSA.

    What is JustMarkets Withdrawal Time?

    This depends on your payment method. Withdrawal via South African Electronic Fund transfer to your bank account through JustMarkets takes about 3 days. Withdrawal via cards takes 4 to 7 days. Withdrawal via international wallets like Skrill & Neteller are instant.

    Important Disclaimer: The CySEC regulated entity of JustMarkets doesn’t provide any bonuses or promotions. The trading conditions, products offered, leverage etc. are also different depending on the jurisdiction & are subject to change in the future.

    Risk Disclaimer: JustMarkets is a CFD broker. CFDs (Contract for Differences) are complex derivative instruments & it is very risk for traders engaging with it with leverage. A very high percentage of retail traders & investors lose their capital when trading CFD instruments.

    Therefore, you should understand the full risks, and only trade CFDs if you have acquired the adequate knowledge.

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We recommend JustMarkets for South African Traders
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