Jp markets withdrawal time

You can trade up to 30 forex pairs, other cfds, gold, stock indices and oil on the site, which uses the MT4 (metatrader 4) platform.

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JP Markets Review, jp markets withdrawal time.

There are a few promotions that the company offers, which include:

JP markets review

JP markets is among the many forex markets that are increasing in popularity. It gives its clients a single type of account with variable spreads, as well as additional benefits. However, the site does not allow the use of (EA) automated strategies, scalping and hedging.

Who is behind JP markets?

Established in 2016, JP markets is a forex broker that has its base in south africa, and happens to be the leading african and south african forex broker, with services expanding into other countries such as bangladesh, swaziland, kenya and pakistan.

The company operates under approval from the financial services board (FSB), south africa, FSP 46855. This gives the technology and platform allowing african-based clients to trade successfully in forex markets around the world.

JP markets focuses on assisting clients at a localized level through customer service as well as tools that can assist in succeeding on that front. The company prides itself on being the only brokerage worldwide that gives interest on trading accounts (this is subject to a specific minimum balance), as well as other industry firsts and benefits to various clients.

The founder is a south african entrepreneur, justin paulsen. He has extensive knowledge on the financial sector, having obtained a degree in economics and finance from the university of cape town. He has also worked with several brokers and forex agencies before setting up the company.

Trading services offered

You can trade up to 30 forex pairs, other cfds, gold, stock indices and oil on the site, which uses the MT4 (metatrader 4) platform.

You may wonder why the base is in south africa. One reason is that many investors view south africa as a country with great potential, since it is among the most developed countries on the continent. The regulator, FSA, has enforcing powers that allow it to deal with breaches in forex brokerage, while it also runs the office of the omud for financial services providers, which is a customer complaints service.

Regulation within the country is not among the best in the world, though there is some level of reliability in the sector. If you are a local broker with a trading license, you need to keep all your client funds in recognized banks in the country within segregated accounts.

Advantages of MT4 trade platform

As the industry standard platform, MT4 lends itself to various traders as an easier alternative, thanks to the richness of its features. It places itself among the leading platform in online trading due to its foreign exchange agency model implementation, unconventional organization of trading, as well as competitive assessments.

You can use algorithmic traders as well as expert advisors (eas), which automate your exchange and make the process easier for you. MT4 allows you to see the marketplace you are dealing with, all within real time, highly accurate and impeccably judge all your exits and entrances.

Accounts available on the platform

Clients have a single account type to choose, and this account comes with no commission fees imposition, fixed spreads, STP (straight through processing) market execution and leverage that reaches a maximum of 1:500. You can get PAMM services as well.

Straight through processing

This service means that the forex broker will send the customer’s order directly to larger brokers or banks without the order passing through a dealing desk. That implies that there are no delays in the process and the processing of transactions is faster.

It has several advantages, which include:

STP brokers make their money through addition of small commissions, which are markups to the spreads

The losses of the client are not the profits of the broker

When the trader loses or wins, the exact markup will go to the broker, so this eliminates conflict of interest

A related aspect to STP is NDD (no dealing desk), which gives brokers access to the inter-bank forex markets. In addition, this eliminates conflict of interest, filling orders and re-quotes.

Deposit and withdrawal options

The platform does not offer a wide range of deposit options. The bank option is ned bank, with the deposit details. Keep in mind that the south african reserve bank (SARB) will always convert international payments to their base rate. Other options include bitcoin, credit and debit cards, neteller and skrill.

You need an initial deposit minimum of R3500, and this is a reasonable amount especially when you compare it to other south african brokers. In addition, allocations of payments can take a maximum of 24 hours on business days (from monday to friday).

An interesting aspect to JP markets is the allowance for sending withdrawal requests through whatsapp, which is unseen on other platforms. The withdrawals are easy and fast to process (the process takes about 24 hours), and you can do the process on official working days from 9am to 5pm.

The platform uses secure and safe ways to send you your money, while all transactions undergo rigorous processing to ensure your money stays safe.

The option is through local bank transfer, as the site does not allow e-wallets or any other mediums of withdrawal. The time it takes to receive funds depends on the bank you use. For instance, standard bank, ABSA, nedbank and FNB allow you to get your money within the same day, while other banks could take up to two days.

As with any other withdrawal process, you need to have proof of documentation before you submit your withdrawal request. This includes scanned copies of your ID, bank statements and proof of address, all confirming your details as per regulations from the FSB.

Keep in mind that all withdrawals that you make through credit cards have an extra fee of R50. For the case of bank transfers, there are no charges for withdrawals, but you are liable for any fees that the individual bank charges in the transaction, including the use of intermediaries.

Commissions, leverages and spreads

The maximum amount of leverage you can get is 1:500, which many investors consider high, even with other brokers offering higher or similar rates.

Note that with higher leverage comes higher risks of losses, and this is the reason many jurisdictions set caps on leverage rates.

Any promotional bonuses?

There are a few promotions that the company offers, which include:

30% welcome on deposit bonus, and this is valid for 60 days

Currently, the minimum amount that qualifies you for any bonus is R3000. There is also not much information regarding bonuses.

The platform does not charge you extra commission fees, which may be a good thing. However, we do not like the spreads, as we find them too wide to be competitive – they are 2.4 pips on average for USD/EUR.

Even though fixed spreads are wider than floating ones generally, many other brokers will offer you a better deal.

Pros of the JP markets platform

The FSB regulates its activities

MT4 is available on the site

Same day deposits and withdrawals are possible

You can trade in rand, other than USD or EUR

There is a limited choice of trading platforms

The spreads are too wide

You cannot use eas, hedging or scalping techniques on the platform

Final thoughts

JP markets is a CFD south african broker and forex company that the FSA regulates actively. They support the MT4 platform, making them easy to use for many traders. However, the spreads are higher than the average, and this unfortunately places many restrictions on trade.

��top broker 2020 SA��

General risk warning: the financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose. For more infomation, read our disclaimer.

Behind the scenes at JP markets

The FSCA received more than 100 complaints about the online trading platform, which among other things is accused of manipulating prices. Image: Shutterstock

Online broker JP markets advertised on social media how easy it is for ordinary people to make big profits by trading highly-leveraged derivative instruments – showing video clips of people driving a new luxury car, travelling the world and attending parties on a big yacht – but court documents are now claiming that the company described successful traders as “toxic clients” and was searching for reasons to refuse to pay out their trading profits.

The financial sector conduct authority (FSCA) filed an urgent application to the high court for the liquidation of JP markets after the firm continued to do business and continued to solicit funds from clients even after the FSCA suspended its licence to operate.

Justin paulsen, founder and only shareholder of JP markets, hit back saying that the firm is a victim of unethical traders that were colluding to profit unfairly, and that the term “toxic traders” is recognised terminology in the foreign exchange market.

At worst, there is confusion whether JP markets needs an additional licence to operate, paulsen stated in court documents in reply to the FSCA’s application to liquidate his firm. “the applicant has itself been guilty of failing to provide guidance and clarity in this regard,” he says.

The FSCA basically argues that the broker did not trade in financial markets at all.

No trading in financial markets took place, says FSCA

It says its investigation found that while clients believed they were trading contracts for difference (cfds) on local and international markets, no trading in financial markets actually took place.

“the clients were not trading on an online decentralised global financial market; they were merely entering trades on a platform that was no more than an off-the-shelf software application that recorded these trades. In fact, clients were purchasing cfds issued by JP markets.

“put differently, JP markets was the counter-party to the cfds,” says the FSCA in the court application.

“as such, JP markets had a substantial interest in the transactions, a substantial risk and a substantial conflict with its clients.

“any profit made by clients would result in JP markets making a concomitant loss and being liable for paying the profits to clients. The converse applied if clients lost money.”

Not keen to pay out

Apparently JP markets was not to keen to pay clients who made profits on their trading.

The court documents include an email paulsen sent to the manager of the trading programme in pakistan, asking if it was possible to change quoted prices to limit clients’ profits.

“I need help here. I don’t understand how this lady can make $8k every day. Can we increase the spread on her account only?” reads the email.

“maybe we change her to a group that is not used and put the same spreads … other pairs but just change the mark-up and spreads of what she trades? Like increase the spreads of the nasdaq and we use this for future clients too? So basically, we create a group with a higher spread for indices?? What do you guys think? Please look into this today so we can solve it asap.”

The FSCA says the manager of the trading programme, saad sidat, explained to investigators that the changes would reduce a client’s profit with the result that JP markets would make more profit on the other side of the trade. He said that JP markets referred to profitable traders as “toxic clients”.

Looking for a way not to pay

Sidat furnished the FSCA with an email he received from kurt paulsen, paulsen’s brother and chief operating officer at JP markets, that includes the following:

“I’m looking for a way to get rid of these toxic clients once and for all. I think our mistake was paying them out last time which encouraged them to come back but they seem to be picking up where they left off by killing our profitability and they doing it quickly.

“attached, I have our client agreement, we need to find something in this agreement that protects us from refusing payment to these toxic clients.”

A bit further on paulsen writes that “I know we looked at these accounts over and over but I cannot see how it’s possible that they can continue to be as profitable as they are”.

Sidat admitted to FSCA investigators that he had assisted JP markets in creating a “toxic group” on the platform that used different margins and spreads in an effort to reduce trading profits made by clients in this group.

Paulsen says that sidat’s testimony is purely hearsay as he did not furnish a sworn affidavit. He says in the court documents that the only reason for the damaging allegations is that the business arrangement between himself and sidat has soured.

How ‘toxic traders’ operate

Internet articles about online forex trading indeed refer to toxic clients. Some are traders who make profit by trading on more than one trading platform simultaneously to profit from differences in prices between platforms.

The proprietors feel these arbitrage opportunities are unfair, because they allow traders to “prey” on platforms with substandard technology that do not update quotes as fast as they should.

Another problem is that traders would take bigger positions than market makers anticipate when the latter place offers on different platforms. Most articles on the subject offer the same example, of an institution offering to sell $10 million worth of currency and the offer is streamed over five platforms.

The platform operators argue that the so-called toxic traders know immediately that the offer is only for $10 million, but would trade on all the platforms and thus buy $50 million, profiting if the market moves in their favour.

Nobody says a word about the traders’ bigger losses if the huge global foreign exchange market moves in the other direction, or how the competing online platforms share this information, or why an institution would make such a mistake time and time again.

Buying time to refuse payments

Sidat also indicated that JP markets created a “compliance” email after it received a withdrawal request from a client. The e-mail informed clients that their trades had been flagged and that the client would receive a response on their request within a couple of weeks.

Apparently, this was a ruse to give JP markets time to come up with an excuse not to honour the payment request.

Sadat told the FSCA that the firm would try to get rid of toxic clients by refusing withdrawal requests when they unexpectedly continued to trade profitably in the toxic group.

Legislation makes provision for brokers to issue over-the-counter cfds and thus enter trades as principals with their clients, if they are registered and licensed as such.

JP markets was initially authorised as a financial services provider (FSP) by the FSCA when it started its operations in 2016.

However, the category 1 licence only allowed the firm to give advice and offer non-discretionary intermediate services in respect of derivative instruments. The FSCA suspended the licence a week ago after investigating complaints by clients.

“the FSCA received more than 100 complaints,” gerhard van deventer, head of investigations at the FSCA, told moneyweb.

Three core complaints

The court documents state that JP markets’s clients complained that the firm failed to pay out money, that clients suffered losses due to interruption of the trading platform, and that JP markets manipulated prices.

“for an operation like JP markets to actually be the issuer/counter-party to the CFD is illegal, unless it holds an over-the-counter derivative product provider licence issued by the FSCA. Such a licence will enable an entity to issue cfds and other derivatives, but it will only be issued to applicants that can pass the stringent requirements put in place to protect clients,” says van deventer.

“these requirements inter alia relate to managing the massive risk associated with being an issuer of a geared product like a CFD. There is also the problem of the self-evident conflict of interest that exists in this situation.”

Van deventer says there are a lot of trading platforms available on the internet, many of them totally illegal. “even when considering legitimate trading platforms [where the FSP is merely the intermediary] the concern is still that many clients are seduced into trading on the platforms who do not have the experience or knowledge to do so safely. It is a matter of suitability of the product,” he says to explain the FSCA’s action against JP markets.

The FSCA investigation has revealed several bank accounts linked to JP markets at different banks holding more than R258 million.

The FSCA obtained preservation orders against the accounts, with van deventer saying that it is unclear at this stage what the value of claims against the company will amount to.

Another contravention …

The court documents reveal that JP markets claimed to have deposited approximately R50 million of its own money into these accounts, which in itself is in contravention of regulations that require separation of clients’ funds.

The application to the court concludes that JP markets failed to render financial services fairly, honestly and with due diligence and that it failed to avoid or disclose its conflicts of interest to its clients properly. In addition, JP markets did not comply with the suspension order issued by the FSCA.

JP markets did not reply to questions from moneyweb, save for two emails that saying that our requests had been forwarded to the relevant people. Telephone calls went unanswered, with the recorded message still touting JP markets as a broker operating with FSCA authority.

Darren hanekom, attorney acting for JP markets, supplied the answering affidavit to the FSCA’s application to moneyweb.

Paulsen’s claims

One of the noteworthy arguments in the court document is paulsen’s contention that payments are made on time and that JP markets has paid out more than R1 billion in clients withdrawals during the last three months.

Still, a lot of clients complain about JP markets, taking to social media to voice their frustration.

A facebook page titled ‘JP markets exposed by their clients’ lists several pages of complaints about the trading platform – from profits being reversed and problems with withdrawals to unauthorised trading and allegations of price manipulation.

One user posted graphs that compared prices from two different trading platforms which show a huge discrepancy between the two systems. The price of the CFD on the JP markets platform shows a huge sudden fall.

Difference in price between trading platforms

Source: posted by client on the facebook page ‘JP markets exposed by their clients’

The administrators posted on thursday that: “JP markets and their attorneys have resorted to bullying and intimidation tactics and have issued us with a threatening letter demanding to have this page shut down by close of business today.” apparently the administrators were threatened with a defamatory lawsuit.

In addition to everybody calling JP markets a scam and its owner a crook, the facebook page posted pictures of paulsen doctored to show him in handcuffs and wearing an orange overall.

Unhappy clients also started a petition to shut down the firm. A petition on change.Org, started by danny trolip, calls on the FSCA to shut down JP markets. It had garnered 3 273 signatures by friday afternoon.

“justin paulsen is insulting the intelligence of traders, and taking us for fools. There has never in the history of systems [been a case] that a system takes more than a week for an upgrade,” reads the call for the petition. “something is very wrong at JP markets.”

Meanwhile, paulsen says the FSCA does not understand the market it is supposed to police, while the FSCA says it is concerned that people who do not have the necessary experience are seduced into trading on platforms and in highly-geared instruments that are totally unsuitable for their requirements, the very essence of the FSCA’s mandate.

Behind the scenes at JP markets

The FSCA basically argues that the broker did not trade in financial markets at all.

No trading in financial markets took place, says FSCA

It says its investigation found that while clients believed they were trading contracts for difference (cfds) on local and international markets, no trading in financial markets actually took place.

“put differently, JP markets was the counter-party to the cfds,” says the FSCA in the court application.

“as such, JP markets had a substantial interest in the transactions, a substantial risk and a substantial conflict with its clients.

“any profit made by clients would result in JP markets making a concomitant loss and being liable for paying the profits to clients. The converse applied if clients lost money.”

Not keen to pay out

Apparently JP markets was not to keen to pay clients who made profits on their trading.

The court documents include an email paulsen sent to the manager of the trading programme in pakistan, asking if it was possible to change quoted prices to limit clients’ profits.

“I need help here. I don’t understand how this lady can make $8k every day. Can we increase the spread on her account only?” reads the email.

Looking for a way not to pay

Sidat furnished the FSCA with an email he received from kurt paulsen, paulsen’s brother and chief operating officer at JP markets, that includes the following:

“attached, I have our client agreement, we need to find something in this agreement that protects us from refusing payment to these toxic clients.”

A bit further on paulsen writes that “I know we looked at these accounts over and over but I cannot see how it’s possible that they can continue to be as profitable as they are”.

How ‘toxic traders’ operate

The proprietors feel these arbitrage opportunities are unfair, because they allow traders to “prey” on platforms with substandard technology that do not update quotes as fast as they should.

Buying time to refuse payments

Apparently, this was a ruse to give JP markets time to come up with an excuse not to honour the payment request.

Sadat told the FSCA that the firm would try to get rid of toxic clients by refusing withdrawal requests when they unexpectedly continued to trade profitably in the toxic group.

Legislation makes provision for brokers to issue over-the-counter cfds and thus enter trades as principals with their clients, if they are registered and licensed as such.

JP markets was initially authorised as a financial services provider (FSP) by the FSCA when it started its operations in 2016.

“the FSCA received more than 100 complaints,” gerhard van deventer, head of investigations at the FSCA, told moneyweb.

Three core complaints

The FSCA investigation has revealed several bank accounts linked to JP markets at different banks holding more than R258 million.

The FSCA obtained preservation orders against the accounts, with van deventer saying that it is unclear at this stage what the value of claims against the company will amount to.

Another contravention …

Darren hanekom, attorney acting for JP markets, supplied the answering affidavit to the FSCA’s application to moneyweb.

Paulsen’s claims

Still, a lot of clients complain about JP markets, taking to social media to voice their frustration.

Difference in price between trading platforms

Source: posted by client on the facebook page ‘JP markets exposed by their clients’

In addition to everybody calling JP markets a scam and its owner a crook, the facebook page posted pictures of paulsen doctored to show him in handcuffs and wearing an orange overall.

Jp markets withdrawal time

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Forex brokers lab

BROKERS with LOW SPREADS

ASIC REGULATED BROKERS

BROKERS with MINIMUM DEPOSIT

BEST FOREX BONUSES

Regulators : –

Cryptocurrencies: YES

Minimum deposit: R3000

Maximum leverage: 1:500

Spreads: low

My score: 2.2

JP markets is a global forex broker. JP market is becoming increasingly popular around the world. The broker established in 2016 and has its base in south africa. JP markets and its branches have been established in the south african cities of johannesburg, polokwane, bloemfontein, cape town and pretoria, as well as an international presence in swaziland, kenya, pakistan and bangladesh.

When I look at their website, jpmarkets.Co.Za, 30% of visitors are from south africa. The company’s focus is on helping traders on a local level, providing clients with the personalized customer service and tools required for them to succeed in a fast-paced and exciting industry that can make them very wealthy.

JP markets’ vision is to play an instrumental role in the creation of at least 30 african-owned forex brokerages across africa by 2020 and assist in the creation of 500 forex millionaires in the next 10 years.

Is JP markets scam or safe broker? Is JP markets regulated? Is JP markets ECN or STP? What is the JP markets minimum deposit? Is JP markets suspended?

In this JP markets review, I will introduce all details about the broker. If you are wondering about JP markets minimum deposit, jp markets account types, regulation, spreads, leverage, JP markets minimum withdrawal, platforms and bonuses, you are in the right place to find them all.

What is JP markets?

JP markets is an international online broker that started operations in 2016. Although the company has been in business for several years, it has communicated with a wide customer base. It started out as a small company with a small office and several employees, but today it has offices in various countries of the world.

It was founded by a local entrepreneur who comprehensively understands international financial markets. JP markets tries to establish long-term relationships and offers trading opportunities to local and global investors.

JP markets has a base in south africa, in many countries, with operations that offer innovative opportunities in the trading of forex, metal and other instruments on an STP basis. JP markets has set the vision to create at least 30 forex brokers in africa by 2023 and to help create 500 african forex millionaires in the next 10 years.

Who is the founder of JP markets?

JP markets founder justin paulsen is a south african economist who loves to deal with international finance. He studied economics and finance at the university of cape town then he dived into private banking sector. He became a leader in south african forex brokerage. He worked with traders, hedge fund managers, asset managers, portfolio managers and forex traders. This is how JP markets emerged.

He thought he could do this and he started his own business, he initially started JP forex investments, he passed RE5 AND RE1 exams. And all these things created jp markets at the end.

JP markets account types, spreads and leverage

JP markets offers its clients two account types. These are jp markets STP standart account and jp markets ECN account. However, before proceeding with jp markets real account you can start with jp markets demo account just to get a sense whether it’ll be worth it or not.

The standard account has variable spreads, no commission fees, STP (straight through processing) market execution and leverage up to 1:500. JP markets’ leverage can be considered high. But do not forget that higher leverage comes with higher risks of losses. There is also PAMM services. JP markets does not have a strict minimum deposit. However, the recommended minimum deposit for JP markets is around R3,000, particularly if you require training.

There is also jp markets ECN (electronic communications network) account. Traders benefit from lower spreads, but this account type charges as trades are executed. Eg. Spreads will reflect a charge of 1 pip on the platform and then a “commission” of $10 per standard lot on execution.

An ECN account stands for the electronic communication network. It means that your orders are executed directly in the market.

What is the difference between ECN and STP JP markets accounts?

The difference between ECN and STP jp markets is, on the ECN account, there is a commission per transaction; whereas on a standard account, you will be charged on spread. Both accounts work out similar in cost so it is all dependent on what you as a trader prefer.

However, JP markets offers average spreads in the market. On average you can get EUR/USD for about 2 pips. I think JP markets’ spreads are little higher compared to the other brokers.

Account type	minimum deposit	spreads	leverage	minimum trade size
STP	R3,000	2 pips on EUR/USD	1:500	0.01
ECN	R3,000	1 pip + $10 com. Per lot	1:500	0.01

Trading platforms

JP markets MT4 (metatrader 4) is available as a trading platform. The MT4 is still preferred by most brokers and experienced traders. JP markets’ platform features advanced charting package, trading and analysis tools, alerts, signals, and customizable indicators. MT4 allows you to see the marketplace you are dealing with.

You can use JP markets login to enter your MT4 account and start trading. It is at the top right of the site called JP markets client login. If you are a partner of the company you will enter as a partner near the client login.

Trading products

You can trade up to 30 forex pairs, other cfds, gold, stock indices and oil on the site, which uses the MT4 (metatrader 4) platform. There is no other option.

You can enter and trade the markets manually or automatically with copy trader or copy master accounts. This means that with just a simple order copy, you can profit from the main accounts and the transaction without any information or deduction. Or, as a master trader, to gain extra exposure to the markets and management of larger capitals.

What are JP markets fees?

JP markets spreads are variable and worse than many forex firms in the market. It is about 2 pips for the average EUR / USD STP account. As I mentioned earlier, the ECN account has a $ 10 commission per lot, which is a better option for professionals, but can be used for anyone as a reference.

This spread determined for EUR / USD is quite high. There are many forex brokers that offer lower rates. JP markets fees seem to be unfavorable in this respect. So, there is no lucrative side to opening an account and trading.

What is the minimum deposit for JP markets?

JP markets minimum deposit is R3,000 which is around $200. It is high when we compare to the other forex brokers. The average minimum deposit is $ 100 in forex market, while JP markets requires twice that.

JP markets withdrawal and deposit methods are limited. The broker does not offer a wide range of deposit options. JP markets’ offers the possibility to send withdrawal requests via whatsapp, which are not seen on other platforms.

Withdrawals take approximately 24 hours. Withdrawals can be made on official working days from 09:00 to 17:00. There is no possibility to withdraw money on weekends and holidays. Before making a withdrawal request, for example, scanned copies of your identity, bank statements and proof of address are required.

JP markets bonuses and promotions

JP markets offers its clients some bonuses and promotions. One of them is ‘%200 deposit bonus’ aka jp markets welcome bonus. There are terms and conditions you can see them on their website. The second one is earning interest. The interest rate of approx. 7.2% per annum allocated weekly, means you’re earning interest like a savings account. You can see the details on their website. The last one is JPM card. You can be a VIP mastercard client by taking the card. Unfortunately, JP markets no deposit bonus is not available. Your bonuses are earned and you receive 5 dollars per lot. E.G.: if you receive a bonus of $50, you need to trade 10 lots in order to earn the full $50 bonus which you can then withdraw.

JP markets deposit and withdrawal methods

JP markets deposit are credit/debit cards, bank wire transfer, payfast, skrill, i-PAY, payfast.

Withdrawals on JP markets are now quick and easy, available to you through the client portal. This is the fastest way to submit a withdrawal.

Is JP markets suspended?

South africa, one of the most developed countries in africa, has a substantial financial market potential. JP markets also wants to be considered as a reliable broker in this market in order to gain a place in this market. The regulator is not one of the most reputable in the world, but it still has a certain level of reliability.

Subject to a qualified standard of how the broker operates, customers are protected by regulatory obligations that maintain trade security as well as other security rules related to money management and market integration.

In simple terms, legal obligations, which are subject to a qualified standard on how the broker works, serve the trade conditions, as well as maintaining a number of other security rules specifically for money management and market integration. Thus, there is negative balance protection, while merchants segregation provides the highest level of security, it is accompanied by the protection of the interests of all customers.

There is a question that worries the clients about the broker: is JP markets license suspended? The answer is yes and no. FSB suspended the license earlier but it’s been reissued recently. It means that you have to be careful if you want to open an account with this broker.

Customer services

How JP markets complaints is dealt with? In the unlikely event of you having any reason to feel dissatisfied with any aspect of their services, in the first instance you should contact their jp markets customer services department on +27(0) 87 828 0576 or email support@jpmarkets.Co.Za, as the vast majority of complaints can be dealt with at this level.

If customer services is unable to resolve the matter you may refer to it as a complaint to jp markets compliance department. Please set out the complaint clearly, ideally in writing. The compliance department will carry out an impartial review of the complaint with a view to understanding what did or did not happen and to assess whether they have acted fairly within their rights and have met their contractual and other obligations. A full written response will be provided with six weeks of receiving the complaint.

The broker has live chat but it was offline when I try to reach. JP markets contact details: black river office park 2 fir street observatory, cape town gatehouse building, 2nd floor.

What is jp markets whatsapp number? As of now, you can contact them at +27 71 559 9457 via whatsapp.
What is jp markets office telephone number? Their tel number is +27 010 590 1250
what is jp markets email address? It is support@jpmarkets.Co.Za
what is jp markets facebook page? Its link is www.Facebook.Com/jpmarketssa

Investors need to be sure that the broker they choose will provide support and assistance as needed, to help them easily find the exact answers to their customers’ questions and provide them with the best user experience. Phone call, e-mail, online chat and whatsapp are the options.

If you’re unsure about their reliability go ahead and try to contact them through the channels I mentioned above. Maybe you can act like an old client of them at first since some companies take better care when it comes to a new client or a prospect. At the end, you can take everything into consideration when deciding whether you invest with them or not.

Conclusion

JP markets is an south african forex broker. The broker has limited account types and does not allow scalping, hedging and eas. And you don’t have the chance to choose trading platforms. JP markets support only MT4 platform, making them easy to use for many traders.

JP markets was regulated by FSB but the regulator entity suspended their license earlier due to miscommunication as their CEO says. JP markets license has been reissued.

Although they have a valid license now, I suggest you to consider investing in there wisely since suspensions occur frequently in this market. On the upside, they have various awards, I attach their screenshots below

If you wanna try and check them out, you can reach jp markets login page by clicking the button below. Hope you informed with this review.

Hotforex's fund deposit & withdrawal options and conditions

We have summarized the conditions of available deposit and withdrawal methods.

Do you live in south africa? Then please go to hotforex ZA (south africa) main introduction page.

Hotforex accepts more than dozens of deposit methods from its traders.

The broker also issues its own co-branded mastercard which is directly connected to your MT4 trading account .

Here are the list of available deposit options and each conditions.

Deposit options
credit cards	accepted currency	minimum amount	fees	appriximate time
visa (credit/debit)	USD, EUR	$50	none	10 minutes
mastercard	USD, EUR	$50	none	10 minutes
maestro	USD, EUR	$50	none	10 minutes
american express	USD, EUR	$50	6.5%	10 minutes
HF mastercard	USD, EUR	$50	none	10 minutes
electronic payment
neteller	USD, EUR	$50	none	10 minutes
skrill (moneybookers)	USD, EUR	$50	none	10 minutes
soford banking	USD, EUR	$50	none	1 – 2 days
qiwi	USD, EUR, RUB	$50	none	10 minutes
webmoney	wmz, wmr, wme, wmu	$50	none	instantly
ideal	USD, EUR	$50	none	instantly
przelewy 24	USD, EUR	$50	none	instantly
trustpay	USD, EUR	$50	none	instantly
bank wire transfer
bank transfer	any currencies	$250	covered by hotforex	2 – 7 days

*fast transactions 24/5 during the standard trading hours.

Any fees for depositing funds?

Hotforex does not apply any deposit fees, but in case of bank transfer, it will vary both on the country you are sending funds from and the corresponding banks involved.

Withdrawal options
credit cards	accepted currency	minimum amount	fees	appriximate time
visa (credit/debit)	USD, EUR	$5	none	2 – 10 days
mastercard	USD, EUR	$5	none	2 – 10 days
maestro	USD, EUR	$5	none	2 – 10 days
american express	USD, EUR	$5	none	2 – 10 days
HF mastercard	USD, EUR	$5	none	instantly
electronic payment
neteller	USD, EUR	$5	none	instantly
skrill (moneybookers)	USD, EUR	$5	none	instantly
bank wire transfer
bank transfer	any currencies	$150	depends on banks	2 – 10 days

How to request for fund withdrawals?

In order to proceed with the withdrawal, please log in to myhotforex and select “fund withdrawal”.
*withdrawals submitted before 10:00am server time are processed on the same business day between 7:00am and 5:00pm server time.
*clients wishing to withdraw below the minimum levels presented will be required to cover all charges associated with the withdrawal request.

Is my payment information safe with hotforex?

Protection of payment and data security HF markets (europe) ltd t/a hotforex does not receive and/or store any personal credit card or payment details.

All transactions are processed and protected by level 1 PCI-DSS certified independent international payment gateways.

How to withdraw funds via other electronic payment methods?

For all incoming payments via sofort, ideal, webmoney, western union, trustpay and qiwi any subsequent withdrawals will only be actioned via wire transfer.

For the full conditions of fund withdrawals, you can find it in the below PDF.

Hotforex

Post tags

Hotforex's service condition outweighs most of the other FX brokers'. Find out why.

Do you live in south africa? Then please go to hotforex ZA (south africa) main introduction page.

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Hercules.Finance is a financial education website powered by a team of financial specialists and IT experts, mainly introduce solutions of forex, CFD and commodity investment, and a number of payment services. With more than 30 partnered companies all over the world, hercules.Finance offers trusted and timely information for investors and users of the services. By referring to hercules.Finance, you can find all latest news/information, financial technical/fundamental analysis, main/exclusive bonus promotions of partnered companies and a number of educational materials of finance. For the list of all partnered companies, please visit here. For more latest information of the website, please visit hercules.Finance.

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Foreign exchange and contracts for difference ("cfds") are complex financial products that are traded on margin. Trading forex & cfds carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, forex & cfds may not be suitable for all investors because you may lose all your invested capital. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved taking into account your investment objectives and level of experience. Past performance of forex & cfds is not a reliable indicator of future results. All information on hercules is only published for general information purposes. We do not present any guarantees for the accuracy and reliability of this information. Please note the spreads displayed in the website are all included extra trading commissions, as it shows the whole commissions charged by each broker. Before you engage in trading foreign exchange, please make yourself acquainted with its specifics and all the risks associated with it. Any action you take upon the information you find on this website is strictly at your own risk and we will not be liable for any losses and/or damages in connection with the use of our website.

JP markets - south africa's and africa's biggest forex broker

JP markets is a global forex powerhouse. We set high standards for our services because quality is just as decisive for us as for our clients. We believe that versatile financial services require versatility in thinking and a unified policy of business principles. We continue to grow everyday thanks to the confidence our clients have in us. We are licensed and regulated by the financial services board, south africa, FSP 46855.

Negative
balance protection

Through the use of an automated transaction monitoring and risk management system, a client’s account will never be allowed to reach negative balance.

Zero fee because
we want you to prosper

We do not charge you any fees for bank deposits or withdrawals made through our payment gateways. We are africa’s best, most reliable & trusted broker.

Quick & sufficient trading platforms

With high performing and innovative technology, our platforms are fast and sufficient for your trading. We do not lag and do not re-quote on orders. What you want you get.

Fast, reliable
deposits & withdrawals

With our almost instant deposit and almost instant funds withdrawal technology. You can enjoy your success almost instantly. No long waiting periods.

State of the art security
for your money

Safety is our top priority. Your monies is always safe with us and are kept in a separate banking account as requested by our regulator. Your money is safe and secure.

Friendly
customer support

Customer support, one of our most prized position – to what makes us different. Call, email or chat with us today. Our consultants are happy to help you with any request.

Jp markets withdrawal time

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