Deposit jp markets

The minimum withdrawal amount is $25. Base currencies are ZAR, USD, GBP. There is no EUR based trading accounts.

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JP Markets: Login, minimum deposit, withdrawal time, deposit jp markets.

RECOMMENDED FOREX BROKERS

JP markets is solid, at first glance, as african brokers go, but what is most important is that it is actually regulated. Please read on to find out what this broker has to offers traders.

JP markets SA (PTY) LTD is regulated by africa’s financial sector conduct authority (FSCA). The regulatory agency aims to promote fair customer treatment, but above all else to maintain a stable financial market for the institutions under its governance. However, members of the overseer are not eligible for a compensation scheme.

There is however one major obstacle that will prevent us from properly reviewing this brokerage firm: we couldn’t register because the broker asks for bank details and ID. The problem is that you need to provide said details even when opening a demo account. Furthermore, the exact leverage and spread values are nowhere indicated, meaning that one must register first before these details are revealed.

However, seeing that the broker is regulated outside of zone that restrict the leverage amount, like the EU/UK by ESMA, one can expect a relatively high leverage.

The same is applied to the instruments for trading. There is not info on the website as to what they are.

The languages that are made accessible are: english, afrikaans, french, sesotho, kiswahili, zulu and isixhosa. These are all regional african languages and dialects.

The broker comes with the most popular platform, the MT4.

METATRADER 4

Metatrader’s design and interface is by now well known. The platform is abundant in trading options and possibilities, and attractive to users both rookie and pro. The platform also allows for VPS. The point of the VPS is to let the auto trading bots trade, without worrying that his job will be interrupted by a power failure or net crash.

There is a mention of a $10 commission when using a ECN account, but it’s rather ambiguous; it does not say if it’s round turn or per side. But considering this broker is regulated, we like to think that the value is round turn. Thus the $10 commission adds an additional 1 pip to any cost of trading.

The precise spread and leverage values are, as already mentioned, not indicated anywhere on the website.

The platform can be accessed via: windows trader, for android, and for ios.

JP MARKETS MINIMUM DEPOSIT

There is no minimum deposit, but JP markets recommends starting with at least $200. Upon further inspection we stumbled upon a piece of information claiming that there is a minimum deposit indicted once a user is fully registered:

We leave for the readers to decide what to trust.

Payment methods are all african based banks, and some common ones like visa, mastercard, skrill, i-pay and payfast.

Base currencies are ZAR, USD, GBP. There is no EUR based trading accounts.

The maximum time to allocate a deposit into a trader’s account is 24 hours.

There seem to be no fees concerning the funding of an account.

JP MARKETS WITHDRAWAL TIME AND FEES

Withdrawals can be done via the local banks mentioned in the deposit section up above, and by payfast and skrill.

There is confusion surrounding the withdrawal times. In the FAQ the broker claims that withdrawals are processed within 4 hours:

While in the T/C they mention that bank withdrawals take up to 3 days,

There are no withdrawal fees, except for credit card ones.

Yet this is the only time they mention credit card as a withdrawing method.

The minimum withdrawal amount is $25.

BOTTOM LINE

We started off this review on a positive note, but things quickly escalated. Africa has never been the most promising place for forex and cfds trading, and it shows as exemplified by the disorganized website. The inconsistencies are far too many to be taken lightheartedly, and thus we have to advice traders to be careful when dealing with JP markets. Tread at your own risk!

JP markets minimum deposit

The JP markets minimum deposit amount that JP markets requires is ZAR3,000.

The minimum deposit amount of ZAR3,000 when registering a live account is equivalent to USD 170,38 at the current exchange rate between south african rand and the US dollar on the day that this article was written.

JP markets is a south african-based broker which is authorized and regulated by one of the strictest and most demanding regulating entities namely FSCA, and as a regulated broker, one of the requirements is that client funds be kept in segregated accounts.

In complying with this, amidst several other strict rules and regulations, all client funds must be kept separate from the broker account, and it can only be used by traders to conduct trading activities.

In addition to ensuring client fund security through segregated accounts, regulated brokers such as JP markets are required to be a member of a compensation scheme or fund which pays out a certain amount to eligible clients in the case of company insolvency.

Deposit fees and deposit methods

JP markets does not charge any fees when deposits are made into the trader’s account, and traders can deposit the minimum deposit amount by using any of the following methods:

Bank transfer (ABSA, FNB, nedbank)

Credit/debit cards

Skrill

I-pay

Payfast

Transfers from atms, and

Snapscan, and

Mpesa

JP markets supports a variety of deposit currencies in which traders can fund their accounts including:

Step by step guide to deposit the minimum amount

Once the trader has completed the process of registering on the website, the trader can make the initial minimum deposit by taking down the banking details provided to transfer funds via EFT, or traders can follow these steps for other payments:

Navigate to the JP markets website and log into the client portal.

Select the deposit option, the payment method and amount.

Follow the instructions and additional prompts to deposit the minimum amount.

Traders should take note that with making deposits by using bank wire transfer, the transactions may take a certain amount of time depending on the method, time of the day, and day of the week.

Bank wire transfers take anything from a day to a few business days depending on the time the payment was made during the day along with the day of the week.

Pros and cons

PROS	CONS
1. Deposit fees and withdrawal fees are not charged	1. Small variety of deposit methods supported
2. Only a few deposit currencies supported

What is the minimum deposit for JP markets?

Interactive brokers does not have a specified minimum deposit.

Professional accounts, however, have certain minimum deposits depending on the account that the professional trader opens.

How do I make a deposit and withdrawal with JP markets?

You can make use of the following payment methods to deposit or withdraw funds:

Bank wire transfer

US automated clearing house (ACH) transfer initiated at interactive brokers

Cheques

Direct debit/electronic money transfer

Canadian electronic funds transfer, or EFT

Single euro payment area (SEPA)

BACS/GIRO/ACH

Does JP markets charge withdrawal fees?

The first withdrawal is free, thereafter traders will be charged per withdrawal depending on the size of the withdrawal and the method of payment.

Deposit jp markets

Please choose your preferred bank below to deposit and use your JP markets MT4 account number as your reference. Also, payment allocations can take up to 24 hours from mondays to fridays. For faster allocation please email all proof of payments to finance@jpmarkets.Co.Za.

Account name: JP markets SA (pty) ltd

Account number: 408 902 1536

Account type: current account

Currency type: south african rand account (ZAR)

Bank identifier code (BIC): ABSAZAJJ

Your ref: MT4 number: (e.G. 554472).

Nedbank

Nedbank details:

Account name: JP markets SA (pty) ltd

Account number: 113 6899 766

Account type: current account

Currency type: south african rand account (ZAR)

Your ref: MT4 number: (e.G. 554472).

Standard bank

Standard bank details:

Account name: JP markets SA (pty) ltd

Account number: 271 294 531

Account type: current account

Currency type: south african rand account (ZAR)

Your ref: MT4 number: (e.G. 554472).

First national bank

FNB bank details:

Account name: JP markets SA (pty) ltd

Account number: 62638202432

Account type: current account

Currency type: south african rand account (ZAR)

Your ref: MT4 number: (e.G. 554472).

Snapscan

Step 1. Snap

Open snapscan and use your phone’s camera to scan the snapcode displayed at the checkout or on your bill.

Step 2. Pay

Enter the amount you want to pay and confirm payment with your 4-digit PIN.

That’s it. You’re done! Make sure the merchant has received proof of payment – email to finance@jpmarkets.Co.Za with the MT4 number in the subject line

Online gateways

We accept payment through several online gateways. This is done through you client portal, the process is quick and easy, with an added benefit of being much faster than a bank deposit.

Please note: when paying with skrill any amount below R200 may result in your deposit not being allocated due to associated fees.

Mpesa

Make use of mpesa to pay in the greater african area. (south africa currently unavailable)

Please follow this link and complete the regular checkout process.

On checkout be sure to choose the i-pay africa option and complete your payment using mpesa.

Please note: that all international payments and other currencies will be converted to the rate that of the SARB (south african reserve bank).

Risk warning: trading on margin products involves a high level of risk.

It is investors’ responsibility to maintain a prudent level of margin, pay their margin and also meet margin call payments on time and in cleared funds. Please keep in mind the possibility of delays in the banking and payments systems. If your payment is not credited by the time you are required to have the necessary margin or meet the margin call, you could lose some, or all of your positions.

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JP markets

HOW TO: DEPOSIT

With our new CRM, you can now do instant deposits! This video takes you through the process to show you how to get it done.

For more educational videos on a range of forex related topics, click here: https://bit.Ly/2ndkfec

JP markets

Official statement

JP markets

Your dreams don’t work unless you do ��

JP markets

Always take the road less traveled ��

JP markets

JP markets has officially launched whatsapp chat where clients can get their queries resolved by our dedicated support team. This easy to use service will replace instagram and facebook dms. Instead of facebook … ещё or instagram DM's you can log into your whatsapp and message us. The automated system is set up so that you are taken to the relevant department instantly. Your queries are resolved much quicker and the process is more efficient. Please note that as this feature has been enabled �� .
Live chat (website), email, telephone and whatsapp chat are the only valid avenues to get a hold of us. �� : +��

JP markets

Interview with jonathan

Our head of training teboho sat down with jonathan to discuss his journey with JP markets. Jonathan has been a JP markets clients since our inception in 2016 and this is how his journey has been. # clientfeedback # forex # financialfreedom

JP markets

Clients are encouraged to carefully read and familiarise themselves with the new terms and conditions of the 200% bonus on our website, below are a few important changes to expect.

• margin requirements and stop out levels will be adjusted to 30%.
• the full credit amount will be removed from the trading account upon the P/L total being less than your initial deposit.
• it’s the traders responsibility to manage the margin requirements and ensure that a sufficient balance total is available to avoid positions being closed with a stop out order.

We are very excited to introduce this 200% bonus to our traders, we’ll send all clients an update email next week in preparation for the launch.

JP markets

200% bonus

Clients are encouraged to carefully read and familiarise themselves with the new terms and conditions of the 200% bonus on our website, below are a few important changes to expect.

We are very excited to introduce this 200% bonus to our traders, we’ll send all clients an update email next week in preparation for the launch.

JP markets FSP license suspended – full story

South african financial regulator, FSCA again suspended JP markets license in june 2020 and is currently working towards the liquidation of the company. What is the story behind this bizarre case?

13 july, 2020 | atoz markets – the financial sector conduct authority (FSCA) has suspended the licence of JP markets SA (pty) ltd (JP markets), FSP number 46855, as there is a reasonable belief that substantial prejudice to clients or the general public may occur if they continue rendering financial services.

Moreover, on the 25th of march 2019, JP markets FSP license has been temporarily suspended without any prior notice by the regulatory body, according to the broker. Founded in 2016, the south africa based forex broker, JP markets was holding a licence and regulated by the financial services board, south africa under FSP no: 46855.

Read the complete story below to know the complete scenario behind the JP markets and its licence suspension.

JP markets allegedly operated in absolute conflict with its clients

Financial sector conduct authority (FSCA) again temporarily suspended JP markets license in june 2020. FSCA said JP markets had problems processing customer withdrawals. The regulator has frozen the JP markets bank account and also ordered the company to force the liquidation of all assets.

The regulator believes that JP markets violates financial sector laws, including operating an unlicensed over-the-counter derivative provider (ODP) business. FSCA said, forex broker trades against customers and interferes with trading terms to reduce profitability for high-income earners and increase company profits. It became clear that the broker was operating in an “absolute conflict” with the customer.

The regulator said the broker had to notify all affected clients of this and, with it, is prohibited from concluding any new business. FSCA also added:

“however, 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. JP markets required an over-the-counter derivative provider licence to conduct these services lawfully.”

JP markets FSP license suspended

According to JP markets’ BD manager, phumulani nkosinathi simamane, there is no reason behind the temporary suspension. It might rather be an embarrassing situation as the forex broker forgot to pay levies on time. When the company’s FSP number was registered, justin (the founder of the JP markets) was using a jpinvest.Co.Za web address. However, the JP team no longer uses the jpinvest.Co.Za domain. After numerous email account updates to his jpmarkets.Co.Za address, the FSP regulator failed to update their system. So, they did not receive any warnings or notice from the regulator. While this could have easily been avoided if the email address had been updated. The FX broker took the responsibility since they should have followed up and paid on time.

In the interests of transparency, the FX broker has attached the notice clearly outlining the reasons for suspension. Moreover, the FX broker had paid the outstanding amount 2 days before FSP suspended the license, and are in process to have this unfortunate oversight remedied immediately.

Furthermore, under section 3 of the grounds of suspension and under section 4 the FSP confirms the reasons as missing to pay the necessary payments. Simply, JP markets did not pay in time despite paying 2 days prior to the suspension.

However, the brokerage firm has been apologizing for any concern that it may have caused. They have tried to assure that the investor’s funds are safe and secure. It is business as usual as the grounds for suspension have already been remedied. The company is just waiting for the FCSA to update the suspension status on the website.

JP markets south africa interview with atozmarkets

Atozmarkets team: “have you made any changes to your protocols in order to avoid such issues in the future? If yes, what?”

JP markets management: unfortunately, there isn’t an amazing story behind it. The TLDNR version is that the FSCA was sending reminders to an old email address, and we were not vigilant enough to follow up with them and the licensing dates. The company has grown exponentially in both the number of clients as well as the various services we have on offer.

We are keen not to repeat this kind of mistake again. The company has assigned a dedicated responsible employee to oversee those of compliance payments. We have also set up digital reminders hosted in the cloud. So, even if we update our servers or lose everything locally the reminders will come through. Finally, we made sure that the FSCA updated their records correctly for any future communication. We have assigned two of our senior company employees to oversee the new email address too.

Atozmarkets team: “since you already remedied this case, how long do you think that regulator will keep the suspension?”

JP markets management: the ramifications of our FSP license suspension can be quite severe. However, the cause was merely a simple oversight on our side, as well as poor communication from the FSCA. While payment for the license was made late, it was still done prior to the suspension of the license. Which is why we are hoping for them to update the website as quickly as possible.

We expect them to update their website any day now. And we would like our clients to know that we do accept our share of the responsibility for this oversight and have already made adjustments to ensure this never happens again.

About JP markets

JP markets offers trading in around 30 forex pairs, stock indices, oil, gold, and OTHER cfds. The company behind the brand, JP markets SA (pty) ltd. Holds its license from the financial services board (FSB), south africa, FSP 46855. The broker also has a presence in kenya, pakistan, and bangladesh.

Lately, brokers see south africa as a financial market with great potential. The country is one of the most developed countries in africa. FSB is in charge of the licensing process and supervision of forex brokerages in the country. Besides, the south african regulator has enforcement powers to deal with breaches through the enforcement committee. The watchdog runs a customer complaints service, the office of the ombud for financial services providers.

JP markets 100% deposit bonus

The 100% bonus is available to both new clients and new existing clients of JP markets and it has no minimum amount required to get the bonus. The bonus applies to all deposits done using the JP markets mobile app and the JP markets website, the bonus is available to deposits up to R140 000 ZAR or equivalent dollar value.

Electronic FICA verification
on JP markets clients are allowed to trade while they wait for their FICA documents to be processed and if you are lucky enough your account can be verified electronically by the JP markets online portal.

No free bonus
JP markets does not offer a free welcome bonus, but have made their bonus to be available on all deposits as small as you can deposit. This is an opportunity to give traders some extra margin and further increasing their profit potential.

Deposits and withdrawals
the JP markets broker has made its name as being the biggest broker in africa and also the first and only broker to give a service that offers same time deposits, and withdrawals that takes up to 2 hours to process.

South african bank accounts
JP markets uses local bank accounts which include capitec bank, standard bank, first national bank and ABSA to process withdrawals quickly to local clients and international clients.

If you have more questions about the JP markets bonus offering please write them down on the comments box below and you will be assisted by our team of traders.

I hope you have recieved all the information you seek and thank you once more for browsing our website we hope to hear from you soon.

Deposit funds and trade

Fast & easy
funding options

FP markets offers over 10 flexible funding options in 10 different base currencies.
Deposit instantly with 0% deposit fees*

It is quick and easy to deposit funds into your FP markets trading account. Funds can be deposited using a wide range of payment methods including credit card, debit card, payment wallets including neteller and skrill , poli pay, online banking and bank wire transfer: