JustMarkets Review 2026: Bonuses & Verdict

JustMarkets is a forex and CFD broker regulated by CySEC, FSA Seychelles, FSCA South Africa, and FSC Mauritius, offering a $30 no-deposit bonus and tiered deposit bonuses up to 120% for traders in eligible emerging markets. This independent JustMarkets review for 2026 examines regulation, bonus terms and conditions, trading costs, platforms, and the catches you need to understand before opening an account. Verified June 2026.

Affiliate disclosure: forex-bonus.com may receive compensation if you open an account through links on this page. This does not influence our ratings or analysis. See our review methodology for how we evaluate brokers.

Risk warning: Forex and CFD trading carries significant risk. The majority of retail trader accounts lose money. You should not trade with money you cannot afford to lose.

Quick Verdict

Category	Detail
Rating	7.5 / 10
Regulation	CySEC (License 401/21), FSA Seychelles, FSCA South Africa (License 51114), FSC Mauritius (License GB22200881)
Founded	2012
Min. Deposit	$10 (Standard Cent)
Platforms	MetaTrader 4, MetaTrader 5
Bonus Programs	$30 no-deposit bonus, 50%/100%/120% tiered deposit bonus, loyalty cashback
Best For	Beginner and intermediate traders in emerging markets who want low entry barriers and bonus-funded trading
Bonus Availability	Not available in EU, UK, Australia, US, Canada, or Japan

JustMarkets scores 7.5/10 in our vetting framework. The broker launched in 2012 as JustForex, rebranding to JustMarkets in 2022, and has built a four-regulator structure spanning CySEC, FSA Seychelles, FSCA South Africa, and FSC Mauritius. It runs one of the more aggressive bonus programs in the industry: a $30 no-deposit bonus for new clients, plus a three-tier deposit bonus system that reaches 120% on deposits of $500 or more.

The tradeoffs are real. Bonus-eligible clients trade under the Seychelles entity, where regulatory protection is substantially weaker than CySEC. The no-deposit bonus excludes Nigeria and South Africa despite those being core emerging markets. And the volume requirements on deposit bonuses can be steep enough to erode the bonus value through spread costs. This review covers all of it honestly, including what we have not yet tested ourselves.

Use our bonus calculator to model the true cost of meeting JustMarkets’ volume requirements before you claim any offer.

Who JustMarkets Is

JustMarkets launched in 2012 under the name JustForex. The company rebranded to JustMarkets in 2022 to reflect an expanded product range beyond forex pairs into metals, indices, commodities, cryptocurrencies, and share CFDs.

The broker operates a multi-entity corporate structure, which is standard among brokers that serve both regulated European markets and bonus-eligible emerging markets:

• JM Financial Ltd — registered under the FSA Seychelles. This is the primary entity for bonus-eligible clients in Asia, Africa, the Middle East, and Latin America.
• JustMarkets Ltd — regulated by CySEC (Cyprus Securities and Exchange Commission, License 401/21). Serves EU-based clients under ESMA rules. No bonuses permitted for retail clients under this entity.
• FSCA South Africa — License 51114. Provides a regulated footprint for South African traders.
• FSC Mauritius — License GB22200881. Additional offshore regulatory presence.

The entity you register under determines your regulatory protections and bonus eligibility. This is a critical distinction that many broker review sites gloss over. Traders in the EU, UK, Australia, the United States, Canada, and Japan cannot access JustMarkets bonus programs. Traders in Indonesia, Malaysia, the Philippines, Pakistan, Bangladesh, and Gulf countries typically register under the Seychelles entity where promotions are available.

One important detail: Nigeria and South Africa are explicitly excluded from the no-deposit bonus according to the terms we reviewed, despite being key emerging markets. Nigerian and South African traders can still open live accounts but should verify which promotions they qualify for before registering.

JustMarkets celebrated its 14th anniversary in June 2026, marking a reasonably long track record by forex industry standards. For context on how forex bonuses work across the industry, see our forex bonus guide.

Regulation and Safety

Regulation is the single most important factor in choosing a broker. Here is how JustMarkets’ regulatory structure breaks down entity by entity, and what each license actually means for your money.

CySEC — Cyprus Securities and Exchange Commission (License 401/21)

CySEC is a respected EU regulator. Under CySEC, JustMarkets must:

• Segregate client funds from company operating capital in separate bank accounts
• Participate in the Investor Compensation Fund (ICF), covering up to EUR 20,000 per client if the broker becomes insolvent
• Provide negative balance protection for all retail clients
• Comply with ESMA rules, including a ban on bonuses and trading incentives for retail traders
• Submit to regular audits and capital adequacy requirements

The CySEC license is a genuine trust signal. However, if you access bonus programs, you do not trade under this entity. The CySEC license provides indirect credibility, not direct protection for bonus users.

FSA Seychelles — Financial Services Authority

The Seychelles entity is where most bonus-eligible clients trade. FSA Seychelles oversight includes:

• Business registration and basic licensing requirements
• Anti-money laundering (AML) and know-your-customer (KYC) compliance obligations
• No investor compensation fund equivalent to EU standards
• No mandatory negative balance protection
• Lighter ongoing supervision compared to CySEC, FCA, or ASIC

Seychelles regulation is standard among bonus brokers. It allows JustMarkets to offer trading incentives and higher leverage that tier-1 regulators prohibit. The tradeoff is substantially reduced client protection if disputes arise or if the broker faces financial difficulty.

FSCA South Africa (License 51114)

The Financial Sector Conduct Authority in South Africa provides regulatory oversight for the broker’s South African operations. FSCA regulation includes client fund protection requirements and oversight of market conduct. This is a meaningful addition above a pure Seychelles-only structure.

FSC Mauritius (License GB22200881)

The Financial Services Commission of Mauritius provides an additional offshore regulatory layer. Mauritius regulation is a step above unregulated status but below CySEC or FSCA in protective strength.

Our Regulatory Assessment

JustMarkets’ four-regulator structure (CySEC + FSA Seychelles + FSCA + FSC Mauritius) is stronger than many bonus-focused competitors that hold only a single offshore license. The CySEC and FSCA licenses distinguish JustMarkets from pure-offshore brokers operating solely under Vanuatu, SVG, or Marshall Islands registration.

That said, the practical regulatory protection for emerging market traders using bonuses is limited to FSA Seychelles standards. JustMarkets has operated since 2012 without major publicized regulatory sanctions, which is a positive indicator over a 14-year period. Absence of sanctions is a minimum bar, though, not a guarantee of safety.

For the full breakdown of how we evaluate broker safety and what each regulator actually enforces, see our review methodology.

Bonuses and Promotions

JustMarkets runs one of the more active bonus programs in the forex industry. The broker offers a no-deposit bonus, a three-tier deposit bonus system, a loyalty cashback program, and periodic contest promotions. All specific amounts, volume requirements, and conditions below come from our Broker & Bonus Matrix, sourced from JustMarkets’ published terms and third-party verification. Where exact current terms need live confirmation, they are marked accordingly.

Find and compare all active bonus offers across brokers at our bonus finder.

No-Deposit Bonus ($30)

JustMarkets offers a $30 no-deposit bonus for new clients who register a Welcome Account and complete phone verification. This lets you start trading with broker-funded capital before depositing any of your own money.

Term	Detail
Amount	$30
Volume requirement	5 lots within 30 days; cumulative profit/loss from all trades must exceed 60 pips
Time limit	30 days active trading period, plus an additional 30 days to transfer profit to a live account
Profit cap	$30 maximum withdrawable profit
Max positions	5 concurrent positions; max 0.01 lots per position
Eligible instruments	Forex pairs and precious metals only
Restrictions	EA/robot trading prohibited; bonus itself is non-withdrawable
Withdrawal gate	Must deposit minimum $100 into a live account before transferring NDB profit

Country eligibility: Available in select countries across Asia, Latin America, parts of Africa, and the Middle East. Not available in: EU, UK, US, Canada, Japan, Australia, Nigeria, South Africa, Algeria, Angola, Botswana, and Vietnam.

The Nigeria and South Africa exclusion is significant for our audience. If you are in either country, this NDB is not available to you. Check XM’s $30 no-deposit bonus or Windsor Brokers’ $30 NDB as alternatives that may be available in your region.

Is the JustMarkets NDB worth it? The $30 no-deposit bonus serves one purpose well: testing the broker’s platform, execution, and overall trading environment without putting your own money at risk. With a $30 profit cap and the requirement to deposit $100 before withdrawing any profit, this is fundamentally a trial mechanism, not a money-making opportunity. The 5-lot volume requirement within 30 days at 0.01 max lot size means you need to complete a very high number of individual trades, each generating meaningful pip movement. It is achievable, but it requires active daily trading.

For a deeper analysis of how no-deposit bonuses work across the industry and which ones offer the best terms, see our no-deposit bonus guide.

Tiered Deposit Bonus (50% / 100% / 120%)

JustMarkets runs a three-tier deposit bonus system. The percentage you receive depends on your single deposit amount:

Tier	Deposit Bonus	Minimum Deposit	Account Types	Time Limit
Tier 1 — 50%	50% of deposit	$10 (Standard Cent, Standard, Pro)	Standard Cent, Standard, Pro	30 calendar days
Tier 2 — 100%	100% of deposit	$100 (Standard, Pro)	Standard, Pro	90 calendar days (Double Benefit) or 30 days (campaign variant)
Tier 3 — 120%	120% of deposit	$500 (Standard, Pro only)	Standard, Pro (Cent not eligible)	30 calendar days

Volume requirement (all tiers): Bonus amount / 2 = required lots. For example, a $500 deposit at 120% gives you a $600 bonus. You must then trade 300 lots before the bonus becomes withdrawable. Orders generating less than 5.9 pips of profit do not count toward the volume requirement.

Profit cap: No explicit profit cap. Profits are withdrawable at any time, but withdrawing funds before meeting the volume requirement removes the bonus proportionally.

Maximum combined bonus: $40,000 across all deposit tiers and accounts. Deposits are not combined for tier eligibility — each deposit is evaluated individually.

Bonus mechanics: The bonus is credited as non-withdrawable trading margin (appears in the Credit field, not Balance). Once you meet the volume requirement, the bonus auto-converts from Credit to Balance within approximately 2 hours, at which point it becomes withdrawable.

Is the deposit bonus worth it? This depends entirely on whether you would trade the required volume anyway. Here is the math on the 120% tier:

• You deposit $500 and receive $600 bonus
• You must trade 300 lots to unlock the bonus
• At a typical spread of 1.5 pips on EUR/USD ($15 per lot), your spread cost over 300 lots is approximately $4,500
• The $600 bonus versus $4,500 in spread costs means the bonus covers about 13% of your trading costs

For active traders who would trade 300 lots within 30 days regardless, the 120% bonus is genuinely valuable — it effectively gives you additional margin and a partial rebate on costs you would have incurred anyway. For traders who would not normally trade this volume, forcing yourself to reach 300 lots within 30 days is likely to cost more in spreads, overtrading losses, and emotional decision-making than the bonus is worth.

The 50% tier is the most accessible for casual traders: a $100 deposit gives you a $50 bonus requiring just 25 lots within 30 days, which is realistic for most active traders. The 100% tier on a $100 deposit (requiring 50 lots in 90 days) is also manageable.

For the full terms and detailed analysis of each JustMarkets bonus, see the dedicated JustMarkets bonus page.

Loyalty Cashback Program

JustMarkets runs a loyalty program that returns a portion of trading costs as cashback.

• Cashback rate: Up to 50% of trading costs (spreads and commissions) returned, depending on account activity level
• Currency: Paid in JM USD (JustMarkets reward currency)
• Payout: Next business day
• Not available for: Standard Cent accounts and Copytrading accounts
• Requirement: Document verification completed

The loyalty cashback is notable because it returns real value to active traders without a volume threshold to unlock. If the 50% figure is accurate, this is one of the more generous ongoing cashback programs in the industry. However, the JM USD reward currency means there may be conversion or usage restrictions. We have been unable to verify the exact terms directly because JustMarkets’ website returned HTTP 403 errors during our research.

Anniversary Contest (June-July 2026)

JustMarkets is currently running a 14th anniversary trading contest:

• Prize pool: $50,000+ including physical gold bars and cash prizes
• Cash prizes: $200 to $1,000 based on trading volume tiers (3+ lots entry, 100+ lots for top tier)
• Weekly draws: 5 winners of $200 each week
• Eligibility: Verified account with minimum $100 balance
• Period: June 1 to July 31, 2026

This is a time-limited promotion and may not be available when you read this. Contest promotions are marketing events, not guaranteed bonuses. Treat them as a potential upside to trading you would do anyway, not as a reason to trade.

Trading Conditions

Spreads and Execution

[NEEDS-TEST-DATA] — All spread figures below are based on JustMarkets’ published account structure and third-party reports. We have not yet recorded live spreads from a funded account during active market sessions.

JustMarkets operates a spread-based pricing model on Standard and Pro accounts, with a raw spread plus commission model on Raw Spread accounts. Based on the account structure:

• Standard accounts: Spreads from 0.3 pips, no separate commission. Typical EUR/USD spreads will be wider than the 0.3-pip minimum during active sessions — broker websites display best-case figures, not averages.
• Pro accounts: Tighter spreads than Standard, still no commission. This is the recommended account for traders who want clean pricing without per-lot fees.
• Raw Spread accounts: Spreads from 0.0 pips plus a commission from $3 per lot per side ($6 round turn). Aimed at scalpers and high-frequency traders.

Execution type: JustMarkets has not clearly disclosed whether it operates as STP, ECN, or market maker. This is worth confirming directly with the broker before committing significant capital, especially if you use scalping or news-trading strategies where execution model matters.

Until we complete live spread testing, we recommend opening a demo account on your preferred account type and observing spreads during your normal trading hours. Compare what you see against XM and FBS demos to benchmark relative competitiveness.

Leverage

Maximum leverage varies by entity and account type:

• Seychelles entity (bonus accounts): Up to 1:3000 on eligible account types
• CySEC entity (EU): Capped at 1:30 for major forex pairs per ESMA rules
• FSCA entity: Check the broker website for current FSCA leverage limits, which are subject to South African regulatory requirements

High leverage is a double-edged sword. It amplifies both gains and losses. The 1:3000 figure, if accurate, is among the highest in the industry. Beginners should use conservative leverage regardless of the maximum available.

Account Types

JustMarkets offers multiple account tiers designed for different trader profiles:

Feature	Standard Cent	Standard	Pro	Raw Spread
Min. Deposit	$10	$10	$10	$10
Lot Size	Cent lots (1,000 units)	Standard lots (100,000 units)	Standard lots	Standard lots
Spreads	From 0.3 pips	From 0.3 pips	From 0.1 pips	From 0.0 pips
Commission	None (spread only)	None (spread only)	None (spread only)	From $3 per lot per side
Max Leverage	Up to 1:3000	Up to 1:3000	Up to 1:3000	Up to 1:3000
Platforms	MT4, MT5	MT4, MT5	MT4, MT5	MT4, MT5
Bonus Eligible	50% tier only	50%/100%/120% tiers	50%/100%/120% tiers	Not eligible
Loyalty Cashback	Not eligible	Eligible	Eligible	Eligible

The Standard Cent account is designed for beginners. Cent lot trading means your position sizes and risk per trade are 100 times smaller than a standard account. A 1-cent-lot position on EUR/USD at 1:100 leverage requires only about $10 of margin. This allows genuine practice with real money at minimal financial exposure.

The $10 minimum deposit is competitive, though not the absolute lowest in the industry. For comparison, InstaForex accepts $1, and XM starts at $5. JustMarkets’ $10 minimum is still well within reach for traders in emerging markets.

The Pro account is the sweet spot for most active traders — no commission, tighter spreads than Standard, and full bonus eligibility across all deposit tiers.

Note that our Matrix data indicates a $10 minimum deposit, not $1 as some sources report. The $10 figure was widely cited but could not be directly confirmed from the broker’s website due to HTTP 403 access errors during research. Verify the current minimum directly on the JustMarkets registration page.

Platforms

JustMarkets supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both are available as desktop software for Windows, web-based browser terminals, and mobile apps for iOS and Android.

MetaTrader 4

MT4 remains the most widely used retail forex platform globally. Key capabilities:

• Automated trading through Expert Advisors (EAs)
• Custom indicators with a massive community library
• One-click trading and multiple chart types
• 9 timeframes, 30+ built-in technical indicators
• Strategy backtesting via the Strategy Tester

MT4 is the safer choice if you use EAs or custom indicators that were built for the MT4 environment, which represents the majority of freely available tools online.

MetaTrader 5

MT5 extends MT4 with additional features:

• 21 timeframes (vs. MT4’s 9)
• Depth of Market (DOM) data for order flow analysis
• Built-in economic calendar
• Improved backtesting with multi-currency support
• Netting and hedging position accounting
• Additional pending order types (Buy Stop Limit, Sell Stop Limit)

MT5 is the better choice for traders who want deeper analytical tools or trade instruments beyond forex. Both platforms are thoroughly documented and widely supported.

JustMarkets does not offer cTrader, TradingView integration, or a proprietary advanced platform. If you need cTrader access, consider LiteFinance which offers it alongside MT4/MT5. If TradingView integration is important, Tickmill provides free TradingView subscriptions based on trading volume.

Deposit and Withdrawal

Deposit Methods

• Minimum deposit: $10 (Standard Cent account)
• Bank wire: Available, processing times vary by region
• Credit/debit cards: Visa and Mastercard accepted
• E-wallets: Skrill, Neteller, and additional regional options
• Cryptocurrency: Bitcoin and other crypto deposits available
• Local payment methods: Country-specific options vary. JustMarkets supports local payment processors in several Asian and African markets, though the exact methods available depend on your country of registration.

Country-specific payment notes:

• Indonesia: Local bank transfers via Indonesian banks are typically available
• Malaysia: Local bank transfer options available; check broker website for current details
• Philippines: Local bank transfers available; check broker website for current details
• India: Local bank transfer available; check broker website for current details
• Pakistan: Local bank transfer options available; check broker website for current details

Cryptocurrency deposits are particularly useful for traders in markets with limited international banking infrastructure. They can offer faster processing and lower fees compared to traditional cross-border wire transfers.

Withdrawal Processing

• Processing time: Instant for e-wallets; 1-5 business days for bank wire transfers. Actual timeframes may vary by region and payment provider.
• Withdrawal fees: No fees charged by JustMarkets. Your payment provider may apply separate charges for receiving funds.
• Minimum withdrawal: $1
• Important: Withdrawing funds while a deposit bonus is active will remove the bonus proportionally. Ensure you understand this before requesting a withdrawal mid-bonus.

Customer Support

JustMarkets provides customer support through multiple channels:

• Live chat: Available on the website and within the trading platform
• Email: Support ticket system
• Email: support@justmarkets.com
• Languages: 20+ languages supported, including English
• Hours: 24/7 live chat support available

[NEEDS-TEST-DATA] — We have not tested JustMarkets’ support response quality or speed. Support quality for Seychelles-entity clients can differ from CySEC-entity clients. We will update this section with actual response time measurements and quality assessments once live testing is complete.

Islamic / Swap-Free Accounts

JustMarkets offers swap-free (Islamic) accounts available on all account types (Standard Cent, Standard, Pro, and Raw Spread). Swap-free accounts do not charge or pay overnight interest (swaps), making them compliant with Islamic finance principles. This is particularly relevant given JustMarkets’ focus on markets with large Muslim populations, including Indonesia, Malaysia, Pakistan, Bangladesh, and Gulf states. Contact JustMarkets support to enable swap-free status on your account.

What We Tested

[NEEDS-TEST-DATA]

Transparency note: We have not yet completed live account testing for JustMarkets. This section will be updated with verified results, including timestamped screenshots, once testing is done. Pending items:

• Account opening and verification: KYC processing time and accepted documents for traders in Indonesia, Malaysia, and the Philippines (Nigeria and South Africa are excluded from the NDB, so testing will focus on eligible countries)
• Actual spreads vs. advertised: Live spread recording during London and New York sessions on EUR/USD, GBP/USD, and XAU/USD across Standard, Pro, and Raw Spread accounts
• Bonus crediting process: How quickly the deposit bonus appears, whether terms are clearly disclosed during the claiming flow, and whether the 50%/100%/120% tier selection works as documented
• Volume tracking: Whether the broker provides transparent real-time tracking of progress toward bonus volume requirements
• Withdrawal test: A full deposit-trade-withdraw cycle to measure actual processing time, including a test of what happens to the bonus when you withdraw partial funds
• Platform performance: Execution speed, slippage frequency, and requote rates on the Seychelles entity during volatile news events

All test results will include timestamped screenshots and specific data points. Until then, this review is based on publicly available information, our Broker & Bonus Matrix data, JustMarkets’ published terms (accessed via third-party citations due to HTTP 403 errors on the main site), and comparative analysis against brokers we have tested.

Reviews labeled “tested” on forex-bonus.com include verified real-account evidence. This review does not yet carry that label. For details on our testing standards, see how we review brokers.

Pros and Cons

Pros

1. Four regulators including CySEC and FSCA — The combination of CySEC (License 401/21), FSA Seychelles, FSCA South Africa (License 51114), and FSC Mauritius (License GB22200881) provides stronger credibility than pure-offshore brokers with a single Vanuatu or SVG registration.
2. Three-tier deposit bonus up to 120% — The 50%/100%/120% tiered structure gives traders flexibility to match the bonus level to their deposit size. The 50% tier at just $10 minimum is particularly accessible.
3. $30 no-deposit bonus for evaluation without depositing your own funds — New clients can test the platform, execution, and trading environment without depositing funds. The $30 profit cap limits upside but serves the evaluation purpose well.
4. Standard Cent account for low-risk learning — Cent lot trading reduces per-trade risk to negligible levels. Combined with a $10 minimum deposit, this creates one of the lowest-risk environments for genuine live trading practice.
5. 14-year operating history — Operating since 2012 with no major publicized regulatory actions across any of its four regulated entities.
6. Loyalty cashback program — Ongoing spread/commission rebates for verified active traders (excludes Cent accounts), providing value beyond one-time bonus promotions.
7. Cryptocurrency deposits — Useful for traders in markets with limited traditional banking access or expensive international wire transfer fees.

Cons

1. Bonus clients trade under offshore regulation — The FSA Seychelles entity offers substantially weaker protections than CySEC. No investor compensation fund, no guaranteed negative balance protection for offshore clients.
2. Nigeria and South Africa excluded from the no-deposit bonus — Two of the largest emerging market forex trading populations are explicitly excluded from the NDB. This significantly limits the offer’s reach for our core audience.
3. Steep volume requirements on higher bonus tiers — The 120% bonus on a $500 deposit requires 300 lots in 30 days. At typical spreads, the spread cost to reach this target often exceeds the bonus value.
4. Spread data unverified — Without live testing, we cannot confirm whether JustMarkets’ spreads are competitive against peers like XM, FBS, or Exness.
5. Broker website blocked automated access — JustMarkets.com returned HTTP 403 errors during our research, preventing direct verification of all terms. All Matrix data is sourced from third-party citations of JustMarkets’ official terms.
6. No cTrader, no TradingView, no proprietary platform — Limited to the MetaTrader ecosystem. Traders wanting order-flow tools, depth of market beyond MT5, or TradingView integration must look elsewhere.
7. Rebranding history — The change from JustForex to JustMarkets in 2022 can cause confusion. Ensure you are on the correct, current website (justmarkets.com).

Who Should Use JustMarkets

JustMarkets is a good fit if you:

• Are a beginner or intermediate trader in an eligible emerging market country (Indonesia, Malaysia, Philippines, Pakistan, Bangladesh, or Gulf states) where forex bonuses remain legal
• Want to test a broker without depositing your own funds using the $30 no-deposit bonus before committing your own capital
• Prefer a low minimum deposit ($10) with the option to trade cent lots for ultra-low-risk practice
• Are an active trader who would trade the required volume anyway and wants to claim the 50% or 100% deposit bonus as supplementary margin
• Use MetaTrader 4 or MetaTrader 5 and do not need cTrader or TradingView integration
• Value a broker with multiple regulators (CySEC, FSCA) beyond just a single offshore license
• Want ongoing cashback through a loyalty program rather than only one-time promotional bonuses

Who Should NOT Use JustMarkets

JustMarkets is not the right choice if you:

• Are based in the EU, UK, Australia, the United States, Canada, or Japan — bonuses are not available, and there are better-regulated alternatives without promotional overhead
• Are in Nigeria or South Africa and specifically want a no-deposit bonus — you are excluded from the JustMarkets NDB. Consider XM or Windsor Brokers instead
• Need the tightest possible raw spreads for scalping or high-frequency strategies — dedicated ECN brokers like Tickmill or IC Markets may offer better pricing
• Require cTrader, TradingView, or advanced proprietary platforms with order-flow tools
• Prioritize trading under a tier-1 regulator only (FCA, ASIC, CySEC) and are uncomfortable with offshore Seychelles regulation for your live trading
• Want a broker with extensive independently verified user feedback — JustMarkets has less third-party review coverage than XM or Exness, making it harder to validate the experience from external sources
• Plan to use Expert Advisors on a bonus account — EA trading is prohibited on the no-deposit bonus Welcome Account

How JustMarkets Compares

JustMarkets competes directly with other bonus-focused brokers targeting emerging markets. Here is a quick comparison of the brokers most frequently searched alongside JustMarkets:

Feature	JustMarkets	XM	FBS
Min. Deposit	$10	$5	$5
Regulation	CySEC + FSA Seychelles + FSCA + FSC Mauritius	CySEC + ASIC + IFSC + DFSA + FSCA + FCA	CySEC + FSC Belize + ASIC + FSCA
No-Deposit Bonus	$30 (excludes NG, ZA)	$30 (includes NG, ZA)	$100 (Quick Start, via app)
Deposit Bonus	Up to 120%	Up to 50%+20% (up to $5,000)	100% first deposit + tiered subsequent
Loyalty Program	Cashback on spreads	XM Points (XMP)	Cashback up to $15/lot
Platforms	MT4, MT5	MT4, MT5, WebTrader	MT4, MT5, FBS app
Founded	2012	2009	2009
Vetting Score	7.5/10	8.5/10	7.5/10

XM holds more regulatory licenses, has a longer track record, and crucially includes Nigeria and South Africa in its NDB eligibility. FBS offers a higher NDB amount ($100 via Quick Start) but its bonus program structure has been less stable, with several promotions discontinued in recent years.

JustMarkets’ main differentiator is the 120% deposit bonus tier, which is among the highest percentage-based deposit bonuses available from a multi-regulated broker. For traders who deposit $500+ and trade actively, the 120% tier provides more bonus capital than either XM or FBS.

For detailed side-by-side analysis, see our broker comparison hub once head-to-head pages are published.

FAQ

Is JustMarkets a legitimate broker?

Yes. JustMarkets holds licenses from four regulators: CySEC (Cyprus, License 401/21), FSA Seychelles, FSCA South Africa (License 51114), and FSC Mauritius (License GB22200881). The CySEC license requires segregated client funds, negative balance protection, and participation in the Investor Compensation Fund for clients under that entity. The broker has operated since 2012 without major regulatory sanctions. Bonus-eligible traders register under the Seychelles entity, which has weaker protections than CySEC. See our review methodology for details on how we evaluate broker legitimacy.

Can I withdraw the JustMarkets no-deposit bonus?

The $30 bonus itself is non-withdrawable. Only profits are withdrawable, capped at $30 maximum. To withdraw profits, you must first complete 5 lots of trading within 30 days (with cumulative pip movement exceeding 60 pips), then deposit a minimum of $100 into a live account. After that, you can transfer your NDB profits to the live account for withdrawal.

How does the JustMarkets deposit bonus volume requirement work?

The formula is: bonus amount divided by 2 equals required lots. For example, a $500 deposit at 120% gives you a $600 bonus, requiring 300 lots of trading. Trades that generate less than 5.9 pips of profit or loss do not count toward the requirement. Once you meet the volume threshold, the bonus automatically converts from Credit to Balance within approximately 2 hours and becomes withdrawable.

Is the JustMarkets 120% deposit bonus available to all traders?

No. The 120% tier requires a single deposit of $500 or more into a Standard or Pro account. Cent accounts are not eligible for the 120% tier. Traders in the EU, UK, US, Canada, Japan, and Australia cannot access any deposit bonuses. The maximum combined bonus across all tiers is $40,000.

What is the minimum deposit for JustMarkets?

Our Broker & Bonus Matrix indicates a $10 minimum deposit for the Standard Cent account. Some third-party sources cite $1, but we could not verify this directly on the JustMarkets website (which returned HTTP 403 errors during research). Verify the current minimum on the JustMarkets registration page before funding.

Are JustMarkets bonuses available in Nigeria?

Nigeria is explicitly excluded from the $30 no-deposit bonus. Nigerian traders can still open live accounts and may be eligible for deposit bonuses, but this requires direct verification with JustMarkets support. For NDB options available in Nigeria, see XM’s $30 no-deposit bonus or check our Nigeria forex bonus guide.

Is JustMarkets good for beginners?

JustMarkets is designed to be beginner-friendly. The $10 minimum deposit, Standard Cent account with cent lot sizing, $30 no-deposit bonus, and MT4/MT5 support create a low-risk environment for learning. However, forex trading itself carries significant risk regardless of the broker. The majority of retail trader accounts lose money. Starting small limits your financial exposure but does not eliminate the risk of losses.

Does JustMarkets offer swap-free Islamic accounts?

Yes. JustMarkets offers swap-free (Islamic) accounts on all account types, including Standard Cent, Standard, Pro, and Raw Spread. Swap-free accounts remove overnight swap charges to comply with Islamic finance principles. Contact JustMarkets support to enable swap-free status on your account.

Final Verdict

JustMarkets earns a 7.5/10 rating in our vetting framework. The broker combines a 14-year operating history, four regulatory licenses (CySEC, FSA Seychelles, FSCA, FSC Mauritius), a $10 minimum deposit, and an aggressive tiered bonus system into a package targeted at beginner and intermediate traders in emerging markets.

The strengths stand out: the 120% deposit bonus tier is among the highest available from a multi-regulated broker, the Standard Cent account provides genuine low-risk practice conditions, and the four-regulator structure offers more credibility than pure-offshore competitors. The loyalty cashback program adds ongoing value beyond one-time promotions.

The weaknesses are equally clear. Bonus clients trade under FSA Seychelles regulation with limited investor protection. Nigeria and South Africa are excluded from the no-deposit bonus. Volume requirements on higher bonus tiers can be steep enough to erode the bonus value through spread costs. And without live spread testing, we cannot confirm whether JustMarkets’ pricing is competitive against benchmarks like XM or Exness.

For beginner traders in Indonesia, Malaysia, the Philippines, Pakistan, Bangladesh, South Africa, and other eligible emerging markets, JustMarkets deserves consideration alongside XM and FBS. Its strongest play is the 120% deposit bonus for active traders who would trade the required volume anyway. If you are in Nigeria or South Africa and want a no-deposit bonus, look at XM or Windsor Brokers instead.

Start with the $30 no-deposit bonus to test the platform before depositing. If you decide to fund an account, use the bonus calculator to model the true cost of meeting volume requirements on your target deposit amount. Read the full bonus terms on the JustMarkets promotions page. And remember: no bonus changes the fundamental reality that most retail traders lose money in forex.

Verified against the Broker & Bonus Matrix: June 2026. All broker data verified from the Broker & Bonus Matrix, June 2026. Sections marked [NEEDS-TEST-DATA] await live account testing. This review will be updated once testing is complete.