According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $250
- WebTrader
- JM Trade
- 2021
Our Evaluation of JM Trade
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
JM Trade is a broker with higher-than-average risk and the TU Overall Score of 4.3 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by JM Trade clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
JM Trade provides competitive but not outstanding trading conditions. Several hundred assets from five different groups, fairly large leverage, average spreads, and three account types are offered by this broker. Its referral program is also standard. The only thing that really sets this company apart is the in-depth training courses, although their level is largely determined by the account type. Moreover, the broker has its own trading platform with a mobile app. The application is simple, intuitive, and easy to use. The broker has no conceptual disadvantages, but there are questions about its regulation.
Brief Look at JM Trade
JM Trade is the trading name of JM Financial LLC and it offers more than 350 CFDs on currency pairs, cryptocurrencies, stocks, indices, and commodities. The minimum deposit is $250. Spreads are market average and no trading fees are charged. The broker’s clients can work in a browser via WebTrader or use desktop or mobile versions of JM Trade's proprietary trading platform. A demo account is free. There are three live accounts that differ in support priority, training materials, and additional options. JM Trade implements a standard referral program with 20% payouts of the referee’s first deposit. A copy trading service is available. The broker pays special attention to educating its clients, thus it has full-fledged courses on trading theory and fundamental and technical analyses, also there are regular webinars.
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- Access to hundreds of assets from different groups, leverage up to 1:400, and no restrictions on styles and strategies;
- A demo account allows studying the broker without any risks, and three live accounts make it possible to choose the optimal trading conditions for each trader;
- WebTrader is one of the easiest and most convenient trading platforms, while the JM Trade solution is no less functional and is highly appreciated by users;
- Many training materials and personal communication methods for traders are available. Also, analysts and experienced market participants are standing by;
- The broker's website has a section with useful features, which include an economic calendar, compound interest calculator, and other options;
- Technical support works 24 hours a day but only on weekdays.
- CFDs are the only assets offered by this broker;
- The broker is registered in St. Vincent and the Grenadines, but no information on its regulation by the Financial Services Authority (FSA) or another organization is available;
- Technical support is ranked high by users, but it does not work on weekends.
TU Expert Advice
Author, Financial Expert at Traders Union
JM Trade offers a wide range of trading instruments including over 350 CFDs on currency pairs, cryptocurrencies, stocks, indices, and commodities. The broker provides trading options via its WebTrader platform and proprietary software, available on desktop and mobile. It supports three account types with a minimum deposit of $250, and offers leverage up to 1:400. Notably, JM Trade places a strong emphasis on education with comprehensive training materials and regular webinars.
However, JM Trade has significant drawbacks, primarily concerning its regulatory status, as it is not regulated by Tier-1 regulatory authorities. The lack of asset diversification to include non-CFD products is another limitation. Client support is available only on weekdays. As a result, JM Trade may appeal to traders who seek extensive educational resources, but may not be suitable for those prioritizing strong regulatory oversight or weekend support.
- You are looking for Access to hundreds of assets from different groups, leverage up to 1:400, and no restrictions on styles and strategies.
- You require demo account that allows studying the broker without any risks, and three live accounts making it possible to choose the optimal trading conditions for each trader. For those who prefer to test the waters before committing funds, the availability of a demo account allows you to explore the broker's platform and services without financial risk.
- You're looking for a broker with a lower minimum deposit requirement. The $250 minimum deposit may be a restraining, especially for traders with limited capital or those who prefer to start with smaller initial investments.
- You're interested in trading a wider range of financial instruments beyond Contracts for Difference (CFDs), as this broker's limited asset offerings may not meet your trading needs or preferences.
JM Trade Trading Conditions
| 💻 Trading platform: | JM Trade and Web Trader |
|---|---|
| 📊 Accounts: | Demo, Start, Gold, and VIP |
| 💰 Account currency: | USD, EUR, and GBP |
| 💵 Deposit / Withdrawal: | Visa/MasterCard and bank wire international system |
| 🚀 Minimum deposit: | $250 |
| ⚖️ Leverage: | Up to 1:400 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 EUR/USD spread: | 0,1 pips |
| 🔧 Instruments: | CFDs on currency pairs, cryptocurrencies, stocks, indices, commodities, and precious metals |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | No |
| ⭐ Trading features: |
Three live accounts plus demo; Over 350 CFDs on assets from 5 groups; Moderate leverage; No restrictions on trading (advisors are allowed); Copy trading service; Convenient web trading platform and mobile application |
| 🎁 Contests and bonuses: | Welcome bonus, first deposit insurance, and bonuses from Traders Union |
If a broker offers multiple live account types, the minimum deposit usually depends on the account. With JM Trade, traders can open the Start account with a $250 deposit, the Gold account with a $5,000 deposit, or the VIP account with a $50,000 deposit. Trading leverage does not depend on the account type, it is determined by the traded asset. Traditionally, currency pairs have the highest leverage of 1:400. But traders can work with lower leverage or without it. If traders have any questions, they always have the opportunity to get comprehensive advice by phone, email, or WhatsApp. Support is available 24/5.
JM Trade Key Parameters Evaluation
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Trading Account Opening
To start working with the broker, register a user account on its website, confirm personal information (verify), and open a live account. TU experts have prepared a step-by-step guide on the registration process.
On the broker's website, click the "Register" button in the upper right corner. You can also click the "Open Live Account" button.
Select the account type. Note that STD-GLOBAL corresponds to the Start account. Click the “Next Step” button.
Enter your first and last names, date of birth, email, and phone number. Create a password and enter it twice. Click the “Next Step” button.
In the next block, enter your registration address with the zip code. Click the “Next Step” button.
Agree to the terms of service by ticking the box. Pass the anti-bot check and click the "Register" button.
In the upper right corner of the user account, click the icon and select the "Profile" tab. Following the instructions on the screen, upload photos and scans of documents confirming your identity. Verification of documents may take several days. Once it is over, you will be able to open a live account.
Return to the main menu, select the "Live Account" section and click the "Open New Account" button. Select the account type and follow the instructions on the screen. After making a deposit, you will be able to trade through the selected trading platform. A demo account is opened in the same way.
Additional features of the user account:
Profile. In this section, traders enter/change their personal information and upload documents for verification;
Security. Here traders can change the password of their user account;
Become an IB. This section is needed for corporate clients to register as partners of the broker;
Become a provider. By activating this function, traders can apply to become signals providers;
Copy trading. This is a section for traders who want to become investors on the copy trading service;
Restart application. This function allows refreshing the page with a cached data reset.
Regulation and safety
JM Trade has a safety score of 1.5/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Flexible trading conditions with high leverage and less bureaucracy
- Not tier-1 regulated
- Not regulated
- No negative balance protection
- Track record of less than 8 years
JM Trade Security Factors
| Foundation date | 2021 |
| Negative balance protection | |
| Verification (KYC) | Yes |
JM Trade is Not a Regulated Broker
Commissions and fees
The trading and non-trading commissions of broker JM Trade have been analyzed and rated as Low with a fees score of 8/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Complex fee structure
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of JM Trade with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, JM Trade’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
JM Trade Standard spreads
| JM Trade | Pepperstone | OANDA | |
| EUR/USD min, pips | 0,1 | 0,5 | 0,1 |
| EUR/USD max, pips | 0,3 | 1,5 | 0,5 |
| GPB/USD min, pips | 0,1 | 0,4 | 0,1 |
| GPB/USD max, pips | 0,3 | 1,4 | 0,5 |
RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
JM Trade RAW/ECN spreads
| JM Trade | Pepperstone | OANDA | |
| Commission ($ per lot) | 3,5 | 3 | 3,5 |
| EUR/USD avg spread | 0,1 | 0,1 | 0,15 |
| GBP/USD avg spread | 0,15 | 0,15 | 0,2 |
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with JM Trade. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
JM Trade Non-Trading Fees
| JM Trade | Pepperstone | OANDA | |
| Deposit fee, % | 0 | 0 | 0 |
| Withdrawal fee, % | 0 | 0 | 0 |
| Withdrawal fee, USD | 0 | 0 | 0-15 |
| Inactivity fee ($, per month) | 0 | 0 | 0 |
Account types
Usually, if a broker offers several account types, they differ significantly in spreads, fees, assets, or additional options. JM Trade offers Start, Gold, and VIP accounts, which differ not only in trading costs. Gold and VIP accounts have increased withdrawal speed, and traders are provided with their own analyst, plus a personal chart is drawn up on the VIP account. Also, they differ in premium trading instruments and unique bonuses from the broker. But for exacting traders, the most important is the depth of training. On the Start account, the program is high-quality and extensive, but it only covers the basic level. The Gold account provides much more in-depth content and webinars occur more frequently. Only the VIP account owners get full access to the JM Trade Academy. Thus, when choosing the account type, not only the experience of traders is important, but also the ability to access the most advanced features of the broker.
Account types:
Traders often open a demo account to get familiar with the platform. The demo is also suitable for practicing new strategies. After that, depending on a trader’s experience, capital, and trading preferences, the broker's client chooses one of the live accounts.
Deposit and withdrawal
JM Trade received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
JM Trade provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- Low minimum withdrawal requirement
- Bank card deposits and withdrawals
- Bank wire transfers available
- Minimum deposit below industry average
- BTC payments not accepted
- BTC not available as a base account currency
- PayPal not supported
What are JM Trade deposit and withdrawal options?
JM Trade provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire.
JM Trade Deposit and Withdrawal Methods vs Competitors
| JM Trade | Plus500 | Pepperstone | |
| Bank Wire | Yes | Yes | Yes |
| Bank card | Yes | Yes | Yes |
| PayPal | No | Yes | Yes |
| Wise | No | No | No |
| BTC | No | No | No |
What are JM Trade base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. JM Trade supports the following base account currencies:
What are JM Trade's minimum deposit and withdrawal amounts?
The minimum deposit on JM Trade is $100, while the minimum withdrawal amount is $0. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact JM Trade’s support team.
Markets and tradable assets
JM Trade offers a limited selection of trading assets compared to the market average. The platform supports 50 assets in total, including 50 Forex pairs.
- Copy trading platform
- 50 supported currency pairs
- Crypto trading not available
- No ETFs
Supported markets vs top competitors
We have compared the range of assets and markets supported by JM Trade with its competitors, making it easier for you to find the perfect fit.
| JM Trade | Plus500 | Pepperstone | |
| Currency pairs | 50 | 60 | 90 |
| Total tradable assets | 50 | 2800 | 1200 |
| Stocks | No | Yes | Yes |
| Commodity futures | No | Yes | Yes |
| Crypto | No | Yes | Yes |
| Stock indices | No | Yes | Yes |
| Options | No | Yes | No |
Investment options
We also explored the trading assets and products JM Trade offers for beginner traders and investors who prefer not to engage in active trading.
| JM Trade | Plus500 | Pepperstone | |
| Bonds | No | No | No |
| ETFs | No | Yes | Yes |
| Copy trading | Yes | No | Yes |
| PAMM investing | No | No | Yes |
| Managed accounts | No | No | No |
Customer support
Brokers need technical and client support so that traders can quickly solve trading-related issues. Sometimes traders make mistakes or do not notice something due to inattention. Also, no system is 100% fault-proof. In such situations, traders can contact support. If specialists respond quickly and competently, clients will not leave for competitors. JM Trade understands this well, therefore it offers high-quality client support, which works 24/5. Most brokers have similar conditions, and only a few offer help on weekends.
Advantages
- Non-clients can contact technical support
- 24/5 communication with managers
- Support’s competence is ranked high by experts
Disadvantages
- Technical support is not available on weekends
Whether you are a client of the broker or just intend to become one, you can contact client support using the following communication channels:
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call center;
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WhatsApp;
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email.
The broker has its official profiles on Facebook, Instagram, Twitter, and LinkedIn. You can contact its managers on these platforms.
Contacts
| Foundation date | 2021 |
|---|---|
| Registration address | Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent & the Grenadines |
| Official site | https://jmtrade.com/ |
| Contacts |
+447460313624
|
Education
To be successful, traders should be constantly learning. They will want to read eBooks, watch video guides, and attend webinars held by experts. Their goal is to improve existing skills and gain new knowledge. For their part, some brokers offer educational materials. These can be full programs or just basic FAQs. JM Trade is ahead of most of its competitors, because it has developed a number of educational courses for traders of different levels. Some of the materials presented in the JT Academy section are also available to unregistered users. Most of the useful information can be obtained by existing clients of the broker, the amount and depth of which depend on the account type.
The broker offers a vast amount of knowledge. The JT Academy has everything for successful CFD trading. The nuance is that owners of the Start account receive only a few of these materials. To study CFDs at an in-depth level, you need the Gold account, or better, the VIP one, since closed webinars and high-quality conferences become available with these account types.
Comparison of JM Trade with other Brokers
| JM Trade | Bybit | Eightcap | XM Group | Pocket Option | Vantage Markets | |
| Trading platform |
JM Trade, WebTrader | MetaTrader5 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | Pocket Option, MT5, MT4 | MT4, MT5, TradingView, ProTrader, Vantage App |
| Min deposit | $250 | No | $100 | $5 | $5 | $50 |
| Leverage |
From 1:1 to 1:400 |
From 1:1 to 1:500 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:1000 |
From 1:1 to 1:500 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0 points | From 0 points | From 0 points | From 0.8 points | From 1.2 point | From 0 points |
| Level of margin call / stop out |
No | No / 50% | 80% / 50% | 100% / 50% | 30% / 50% | 100% / 50% |
| Order Execution | No | Market Execution | Market Execution | Market Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | No | No | No | No | No |
Detailed review of JM Trade
JM Trade uses an advanced technology stack and a reliable security system. These are the basic requirements for a broker who today wants to be competitive and attract new clients. JM Trade does not try to surprise its clients with its trading parameters, because its strengths are primarily due to its own trading platform and excellent training system. The trading platform was developed by professional traders and is aimed at active trading. Therefore, it is very simple, but functional (although it cannot be customized as MetaTrader 4). Training is also developed and supported by experienced market participants. They conduct regular webinars and present video guides. All this allows traders of any level to find a lot of useful information.
JM Trade by the numbers:
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Minimum deposit is $250;
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Maximum leverage is 1:400;
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Over 350 assets from 5 groups;
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100% of the first deposit is insured;
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Technical support works 24/5.
JM Trade is a convenient CFD broker
There are many brokers on the market that offer trading using CFDs only. However, JM Trade offers currency pairs, cryptocurrencies, stocks, indices, and commodities (these include raw materials and precious metals). This is an advantage, because traders do not want to limit themselves by assets and strategies. Also, they can form diversified investment portfolios. In other words, if one asset shows a negative trend and you lose money, it is easy to compensate for this due to the stable and progressive position of other assets that you also trade. That is why JM Trade is called a convenient CFD broker. Moreover, traders can hedge, scalp, trade during the weekends, and use advisors.
Useful services offered by JM Trade:
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Compound interest calculator. Traders enter the deposit amount, frequency of replenishment, expected annual interest, and the target period. After calculation, the tool gives a final balance by the end of the period, the total amount of replenishment, and net profit;
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Reporting periods. Large companies publish official reports on certain dates, which are known in advance. Immediately after the report, the quotes of assets associated with them often change significantly. The seasonal reporting table shows changes for the previous period and forecasts for the current one;
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Economic calendar. Quotes of exchange assets are influenced by many events from the world of politics and economics. Some of these events occur regularly at known time intervals. Knowing these intervals allows traders to make forecasts.
Advantages:
Hundreds of CFDs on a variety of assets, leverage up to 1:400, and no restrictions on trading strategies;
The broker charges only spreads, there are no trading or additional fees;
WebTrader and the broker's own trading platform demonstrate high stability, functionality, and ensure the comfort of trading;
Free in-depth training for market participants of different levels;
Technical support is highly ranked and is available 24/5.
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