JP Markets vs EagleFX | Our In-Depth Analysis in 2024

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JP Markets and EagleFX are online forex brokers that offer their trading services to traders and investors. JP Markets is a regulated and trusted forex broker. It is regulated by FSCA, FSB. On the other hand, EagleFX is an offshore forex broker which is not regulated by any regulatory bodies. Both the brokers have their own strengths and weaknesses.  

In this article, we will review and compare the brokerage services offered by JP Markets and EagleFX. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.

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.

JP Markets Overview

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

EagleFX

Though EagleFX is unregulated, it asserts that clients’ Bitcoin deposits are safely stored in a cold storage location. Bitcoin is the primary payment option used by EagleFX. You can start trading with just $10 on its MT4 platforms and enjoy deep liquidity, tight spreads, and speedy STP executions.

Eaglefx Overview
  • Founded In: 2019
  • Minimum Deposit: $10
  • Maximum Leverage: 500:1
  • Regulations: None 
  • Trading platform: MT4 , Webtrader
  • Account Types: 
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Bitcoin
  • US Traders: Currently Not Accepted. However, Old traders can still trade. 

JP Markets vs EagleFX: Side By Side Comparison

JP Markets
EagleFX
Product
Product
JP Markets
EagleFX
Founded In
Founded In
2016
2019
Founded By
Founded By
Justin Paulsen
Not Found
Headquarters
Headquarters
Johannesburg, South Africa
Roseau Valley 00152, Dominica
Regulations
Regulations
FSCA
None
Min Deposit
Min Deposit
R100
$10
Max Leverage
Max Leverage
1:2000
500:1
Tradable Assets
Tradable Assets
Forex; Stocks; Indices; Commodities
Currencies , Cryptocurrencies, Commodities , Stocks , Indices , Futures
Fees
Fees
Spread starting from 0.5 pips or commission $3
Spread from
Platforms and Tools
Platforms and Tools
MT5
MT4 , WebTrader
US Traders
US Traders
Not Allowed
Allowed

JP Markets vs: EagleFX Features

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

EagleFX

  • Trading Instruments: 100+ instruments including Forex, commodities, stocks, indices, futures and cryptocurrencies  
  • Maximum leverage: 500:1
  • Minimum Deposit: $10
  • Account Types: Three ( Standard, Demo, Islamic Account) 
  • Trading Fees: Variable Spread or commission $4 
  • PAMM/ MAM:  Not Available
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

JP Markets vs EagleFX: Pros and Cons

JP Markets Pros & Cons

Pros
  • 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.
Cons
  • 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

EagleFX Pros & Cons

Pros
  • The maximum leverage is as high as 1:500
  • The minimum deposit is as low as $10
  • Scalping Hedging, News trading, and the use of trading robots are allowed 
  • Speedy STP trade executions in less than a second. 
  • Over 150 trading instruments can be traded on the platforms. 
  • Offers free demo accounts 
  • The round-turn commission is $6, which is low and competitive compared to others.  
  • Zero Fees on Deposit and Withdrawal 
  • Offers Crypto CFD Trading 
Cons
  •  The broker is not regulated 
  •  No investor protection scheme for traders 
  • No managed accounts, social trading, or any provision for investors. 
  • Limited Deposit and Withdrawal Options 
  • Ctrader, Zulutrade, and Tradingview are not available 
  • There are no educational resources

JP Markets Vs EagleFX: Our Scores and Ratings

We rated both brokers, JP Markets and EagleFX, 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.

JP Markets:

6.2
JP Markets Scores
Regulation and Security (40%)5
Fees and Commissions (20%)7
Trading (15%)7
Trading tools (10%)6
Customer Support (10%)7
Trading Education (5%)8

EagleFX

3.4
EagleFx Scores
Regulation and Security (40%)1.8
Fees and Commissions (20%)6.5
Trading (15%)5
Trading tools (10%)1
Customer Support (10%)5
Trading Education (5%)1

Final Verdict :

Both JP Markets and EagleFX offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. JP Markets is a regulated and trusted forex broker. On the other hand, EagleFX is an unregulated offshore forex broker. JP Markets provides Multiple trading platforms including MT4, MT5, MobileTrader (MobileApp). On the Contrary, EagleFX does not offer MT4/MT5. It uses only TradeLocker as its trading platform. 

As JP Markets is not licensed in the USA, it cannot accept US clients. Being an unregulated offshore forex broker, EagleFX can onboard clients from anywhere in the world, including the USA. Therefore, non-US traders may opt for JP Markets, while US traders looking for offshore forex brokers may consider EagleFX. Trading with offshore forex brokers is always risky

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

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