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JustMarkets South Africa Review 2024 - TU expert opinion

Updated: May 02, 2024
Mikhail Vnuchkov
Contributor
Opinions expressed by Traders Union Contributors are their own.
Reviewed by
Dr. BJ Johnson
Editor
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Table of Contents

  • Is Forex legit?
  • Our Evaluation of JustMarkets
  • Detailed Review of JustMarkets in South Africa
  • Advantages of JustMarkets for trading in South Africa
  • Analysis of the Main Features of JustMarkets
  • Trading Conditions for JustMarkets Users in South Africa
  • JustMarkets Commissions and Fees
  • FAQs
Editorial Note: While we adhere to strict Editorial Integrity, this post may contain references to products from our partners. Here's an explanation for How We Make Money. None of the data and information on this webpage constitutes investment advice according to our Disclaimer.

Is the Forex market legit in South Africa?

Our Evaluation of JustMarkets

8.39/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

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

JustMarkets is one of the top brokers in the financial market with the TU Overall Score of 8.39 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews prove that the broker’s clients are fully satisfied with the company.

JustMarkets is a multi-asset broker with reliable regulation, providing services globally through its network of offices.

Detailed Review of JustMarkets in South Africa

JustMarkets is a good choice for traders from South Africa. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.

JustMarkets sources liquidity from major global banks, keeps client funds in segregated accounts, and prioritizes data confidentiality. Clients have access to trades with virtually zero spreads, as well as the option to trade on demo and cent accounts. Specializing in CFD and Forex markets, JustMarkets does not provide direct access to stock exchanges.

JustMarkets by the numbers:

  • Holds 4 licenses;

  • Services available in 197 countries;

  • Over 1 million clients;

  • A new account is opened every 8 seconds;

  • 85% of registered traders are repeat clients.

Advantages of JustMarkets for trading in South Africa

Traders Union analysts conducted a detailed analysis of JustMarkets for traders from South Africa. The experts outlined the key benefits of the company for the clients from this country. The advantages of the broker are as follows:

1

Retail traders cannot lose more funds than invested, thanks to the option of negative balance protection;

2

Social trading and algorithmic trading with the use of EA advisors are available;

3

Regular bonuses and fee discounts are offered to new and existing clients;

4

The company regularly provides comprehensive analytics and offers an economic calendar;

5

Advanced data encryption tools are applied;

6

The broker offers clients a wide range of assets and accounts, along with analytical data and quality technical support at any time.

Analysis of the Main Features of JustMarkets in South Africa

JustMarkets Review
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Traders Union analysts analyzed the key features of JustMarkets for traders from South Africa. TU uses its own evaluation method, assessing each block separately. Based on the results of the assessment, an overall score is given.

User Satisfaction Customer Satisfaction Score (CSAT) is a unique metric of Traders Union based on the analysis of user reviews posted on pages of each broker profile by the visitors of our website from all around the world. We have been collecting these broker reviews for over 13 years, and therefore, we know and understand the level of customer satisfaction with a specific brokerage company better than anyone else.

6.62

/10

Regulation and safety The score for this parameter is based on the licenses a company holds. The higher the level of the license, the higher the score. Obtaining licenses in other jurisdictions also improves a broker’s score. We divide all licenses into three levels:

Level 1 jurisdictions (high level of trust): CFTC – USA, FINMA – Switzerland, FCA — UK, ASIC – Australia, CBI – Ireland, JFSA — Japan, MAS – Singapore, FMA — New Zealand, IIROC – Canada, SFC – Hong Kong.

Level 2 jurisdictions (medium level of trust): CySEC – Cyprus, FSCA – South Africa, CBRC – China, SEBI – India, ISA – Israel, SECT – Thailand, DFSA – United Arab Emirates

Level 3 jurisdictions (low level of trust): FSC – Belize, FSC – British Virgin Islands, FSC – Mauritius, VFSC – Vanuatu, SCB – The Bahamas, BMA – Bermuda, CIMA – Cayman Islands

7.60

/10

Commissions and fees This parameter comprises a comprehensive analysis of all commissions and fees charged by a brokerage company, including trading and deposit/withdrawal fees. Also specific fees, for example the inactivity fee, are taken into account in the final score for the fees. Users can find detailed fees charged by a company in the broker’s profile.

9.50

/10

Trading instruments For this parameter, we evaluate the number of trading assets a broker offers access to in each group of financial instruments. We analyze the quotes a broker offers on Forex pairs, metals, indices, commodities, stocks, and cryptocurrencies. This parameter also includes evaluation of broker’s investment programs, for example access to copy trading, which we regard as an additional type of a trading instrument.

8.02

/10

Brand popularity Traders Union experts are confident that brand awareness mostly fully reflects the real state of affairs in a company – the more popular the broker, the more people trust it. The score for this indicator is based on the data analysis of such services as Ahrefs and SemRush, which show how often a company’s brand is searched on Google. In addition, indicators of the SimilarWeb service, which show the approximate number of visitors of the broker’s website, are also taken into consideration. We also review disclosed official reports of brokers, which allow for evaluating their client base.

9.25

/10

Customer support The score of this parameter is based on the number of available communication channels of a company’s support service. The quicker and easier it is to contact the broker’s support, the higher the score. We check every available support channel, test the speed of processing of requests and completeness of provided information through several interactions.

9.27

/10

Education This parameter provides an evaluation of a company’s capacity to work with beginners. Only quality training and provision of full and unbiased information can help novice traders and investors minimize the risks of losing money, even when working with top-ranked companies. Brokers with useful educational and informational tools, including webinars, tutorials, podcasts and articles, receive higher scores.

8.48

/10

Trading conditions for JustMarkets traders from South Africa

It is important to assess trading conditions before you decide to work with a specific company. Traders Union analysts have prepared a comparison of JustMarkets trading conditions for traders from South Africa. The experts analyzed minimum deposit, trading platforms, leverage and other important information that could impact a trader's choice of a broker.

💻 Trading platform:
MT5 (all countries), MT4 (outside the EU)
📊 Accounts:
Demo, Pro, and Raw Spread (in all countries), Standard Cent and Standard (outside the EU), Islamic
💰 Account currency:
USD, EUR, GBP – all countries
PLN – EU countries
JPY, VND, MYR, ZAR, THB, IDR, KWD, CNY – countries outside the EU
💵 Replenishment / Withdrawal:
Primary methods: credit/debit cards, bank transfer, Neteller, Skrill – all countries
Additional: PayPal – EU
Perfect Money, FasaPay, Sticpay, cryptocurrencies, local payment systems, wallets, and cards – other countries
🚀 Minimum deposit:
$10 or $100 (depending on the country)
⚖️ Leverage:
Up to 1:30, up to 1:300, up to 1:3000 (depending on the country and trader qualification)
💼 PAMM-accounts:
Yes
📈️ Min Order:
0.01
💱 Spread:
Standard and Standard Cent – from 0.3 pips
Pro – from 0.1 pips
Raw Spread – from 0.0 pips
🔧 Instruments:
Forex, indices, metals, energy, stocks, cryptocurrency pairs (not available in the EU)
💹 Margin Call / Stop Out:
CySEC: 80%/50%
Other regulators: 40%/20%
🏛 Liquidity provider:
18 major global banks
📱 Mobile trading:
Yes
➕ Affiliate program:
Yes
📋 Orders execution:
Market Execution
⭐ Trading features:
Social trading, MAM service, EA advisors allowed
🎁 Contests and bonuses:
Welcome bonus, deposit bonus, referral bonus

JustMarkets Commissions and Fees

Traders Union analysts analyzed commissions and fees charged by JustMarkets for traders from South Africa. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.

Information

The broker offers accounts with a commission per lot (3 units of the base currency per side) and spreads starting from 0 pips. These are Raw Spread accounts. Spreads are part of the trading fees. On other types of JustMarkets accounts (Cent, Standard, and Pro), spreads are higher, starting from 0.1 or 0.3 pips, but in this case, there is no commission per lot. JustMarkets does not charge a fee when a client makes a deposit. The company also does not charge a withdrawal fee if the trader has conducted trades before submitting the withdrawal request. If there were no trades on the account, a fee of 3% of the total withdrawal amount is charged. Additionally, payment systems and banks may apply additional fees.

Account type Spread (minimum value) Withdrawal commission
Raw Spread From $0 Charged by the broker in case of trading inactivity
Pro From $1 Charged by the broker in case of trading inactivity
Standard From $3 Charged by the broker in case of trading inactivity
Standard Cent From $0.3 Charged by the broker in case of trading inactivity

Swaps are charged for orders carried over to the next trading day. They can be negative, positive, or zero (for some currency pairs and metals).
The table below shows the average trading fee values for JustMarkets, RoboForex, and Pocket Option, along with a comparison of their levels.

FAQs

Is JustMarkets legal in South Africa?

Yes. JustMarkets operates legally in South Africa. The broker holds the necessary licenses.

Can you learn trading with JustMarkets? Does the broker offer courses for traders from South Africa?

Yes, JustMarkets offers good trading courses and a lot of educational information for clients from South Africa.

Can JustMarkets be trusted? Has the broker been operating in South Africa long?

JustMarkets has been operating in South Africa quite long and has a good reputation. Therefore, traders can work with JustMarkets.

Is JustMarkets suitable for novice traders from South Africa?

Yes. JustMarkets offers optimal trading conditions and good education for beginners from South Africa.

How efficient is JustMarkets customer support in South Africa?

JustMarkets offers a sufficient number of ways to contact customer support in South Africa, and also provides support in the state language.

Has JustMarkets had any incidents involving theft of funds of clients from South Africa?

No. JustMarkets provides reliable security of funds of clients from South Africa.

Will I be able to file a lawsuit in South Africa if JustMarkets violates my rights?

Yes. If JustMarkets violates your rights, you can file a complaint with the regulator of South Africa, and then with a court.

Can JustMarkets clients from South Africa use the broker’s mobile app?

Yes. The mobile app of JustMarkets is available for the clients from South Africa.

Does JustMarkets provide South Africa market analysis?

Analysis of South Africa is featured in the information provided by JustMarkets.

How can I withdraw funds from my account at JustMarkets in South Africa?

JustMarkets supports bank transfers and debit/credit cards of the banks operating in South Africa.

Team that worked on the article

Mikhail Vnuchkov
Mikhail Vnuchkov
Author at Traders Union

Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.

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Dr. BJ Johnson
Dr. BJ Johnson
Developmental English Editor

Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.

Read more