Forex traders are constantly looking for a better broker with excellent services to suit their strategies and trading preferences. With over a thousand online forex brokers, making the right choice is becoming an uphill task. Both CMC Markets and JP Markets offer almost similar trading services. However, there are differences in their regulations, reputations, and operations. CMC Markets is regulated in five tier-1 jurisdictions, including FCA, MAS, ASIC, IIROC, FMA. On the other hand, JP Markets is regulated by FSB , FSCA. Each of the brokers has its strengths and weaknesses.
In this review, we will analyze and compare the two brokers. We will also explore fees, features, trading platforms, and the pros and cons of each broker to enable traders to make the right choices.
CMC Markets vs JP Markets: In a Nutshell
CMC Markets
Founded in 1989, CMC Markets is a publicly traded broker (Ticker: CMCX). The broker is regulated in the UK, Australia, Canada, and Singapore. It offers over 9800 trading instruments, including Forex, Indices, Cryptocurrencies, Shares & ETFs, and Commodities. There is no minimum deposit requirement on IC Markets; you may deposit as low as $1. CMC Markets allows EA trading and news trading. The broker uses the most popular trading platform, MetaTrader (MT4), as its trading platform. To learn more, you can read our review about CMC Markets.
- Founded In: 1989
- Minimum Deposit: $0
- Maximum Leverage: 1:500
- Regulations: ASIC
- Trading platform: MT4 , Share trading platforms
- Account Types: SPREAD BETTING, Fx Active, CFD Trading
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard
- US Traders: Not Accept
JP Markets
Founded in 2006, JP Markets is a South Africa-based forex and CFD broker that offers online trading services. The platform provides access to the MetaTrader 4 and Mobile forex trading platforms. JP Markets.co.za offers over 25 forex currency pairs, CFDs, stocks, gold, silver, oil, bitcoin, and other cryptocurrencies for investment and trading options. However, the broker lacks regulation from other top-tier regulatory authorities like ASIC, CySEC, FCA, etc. To learn more, you can read our review about JP Markets.
JP Markets Overview
- Founded In: 2016
- Minimum Deposit: $1
- Maximum Leverage: 500:1
- Regulations: FSCA
- Trading platform: MT5
- Account Types: Standard, Premium, VIP, Islamic
- Payment Options: VISA, MasterCard, iPay, Local Bank Transfers, M-Pesa, PayFast, Skrill, SnapScan
- US Traders: Not Accept
CMC Markets vs: JP Markets Features
CMC Markets
- Trading Instruments: 12000+ trading instruments including forex, indices, Cryptocurrencies, Commodities, Shares, Share baskets, Treasuries, etc
- Maximum leverage: Up to 30:1 ( FCA, ASIC), up to 1:50 (IIROC), and up to 500:1 for a professional account.
- Minimum Deposit: No Minimum Deposit. However, Pepperstone recommends $200 or equivalent for the margin requirement.
- Account Types: Three (Spread Betting Account, CFD Account, Corporate Account)
- Trading Fees: only Spread is charged (Commission is only for Shares account). Variable spreads from 0.3 pips. A rollover commission is applied on open positions overnight. For the Shares account commission starts from $7.
- PAMM/ MAM: Not Available
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
JP Markets
- Trading Instruments: A variety of trading instruments including, forex, 25 forex currency pairs, CFDs, stocks, gold, silver, oil, bitcoin, and other cryptocurrencies
- Maximum Leverage: The maximum leverage of JP Markets is 3000:1. However, leverage may vary based on account type, tradable assets, or jurisdiction.
- Minimum Deposit: The minimum deposit of JP Markets is R100
- Account Types: Five Account Types ( Premium, VIP, Islamic, Zero Stop Out, ZPM Bonus 300)
- Trading Fees: spreads starting from 0.5 pips for VIP Account, 1 Pip for Premium Account, 1.5 pips for Islamic Account, 3 pips for Zero Stop Out Account, and 2 Pips for JPM Bonus Account.
- PAMM/ MAM: Not available
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
CMC Markets vs JP Markets: Side By Side Comparison
CMC Markets vs JP Markets: Pros and Cons
CMC Markets Pros & Cons
- Regulated by FCA, ASIC, IIROC, MAS, FMA
- Founded in 1989, CMC Markets is publicly traded company
- The minimum deposit is as low as $1
- Comparatively low spread starting from 0.7 pips
- Allows news trading, EA/Robot trading
- Extensive range of tradable assets
- Excellent education and research resources
- Offered only MT4, no MT5, cTrader trading platforms
- Maximum leverage is only 1:300
- No passive investment programme or social trading platforms ( No PAMM, MAM accounts)
- Does not accept US clients
- Only CFD Trading
- High CFD spreads for certain Indices
- Spread betting only for UK residents
JP Markets Pros & Cons
- Regulated by FSB, South Africa.
- The maximum leverage is as high as 2000:1.
- The minimum deposit is as low as $1.
- Offers MT5 Trading platforms.
- 5000+ Trading Instruments including Forex, Stocks, Indices, Commodities, and Cryptos.
- Same Day Deposits and Withdrawals.
- Offers Bonus based on account Types.
- Demo accounts are available.
- Free courses and webinars are available.
- Not regulated by top-tier regulatory authorities such as FCA, ASIC, CySEC, etc.
- Lack of Transparency
- Mainly aimed at South African clients
- Scalping, hedging, and automated trading are not permitted
- Limited choice of trading platforms (Only Metatrader)
- Spreads are sometimes wide
- Requires the monitoring of functionality
CMC Markets Vs JP Markets: Our Scores and Ratings
We rated both brokers, CMC Markets and JP Markets, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.
CMC Markets:
JP Markets
Final Verdict :
CMC Markets and JP Markets are forex and CFD brokers. They offer similar trading services. Both brokers allow scalping, EA trading, Copy Trading, hedging, etc. The minimum lot size for both brokers is as low as 0.01.
However, there are differences in some areas. For example, the minimum deposit for CMC Markets is $0, whereas the minimum deposit for JP Markets is $1. Additionally, the maximum leverage for the CMC Markets is 300:1. In contrast, the maximum leverage for JP Markets is 2000:1.
Our score for CMC Markets is 9.0, and for JP Markets, it is 6.2 So, if you are looking for the most trusted forex brokers with low spreads, you may choose CMC Markets. However, If you prefer a lower minimum deposit forex broker that offers similar services, you may choose JP Markets.
