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 XTB and JP Markets offer almost similar trading services. However, there are differences in their regulations, reputations, and operations. XTB is regulated in three tier-1 jurisdictions and one tier-4 jurisdictions including CySEC, FCA , KNF, FSC. 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.
XTB
Founded in 2002, XTB is an exchange-listed forex and CFD broker with headquarters in Poland and offices in over 13 countries. The broker offers more than 5,800 forex, CFDs as well as real stocks and ETFs for trading on its proprietary platforms. XTB boasts of over 800,000 clients from all over the world. However, the broker offers only the xStation platform. The broker also offers real stocks with 0% commissions.
XTB Overview
- Founded In: 2002
- Founder: Jakub Zablocki
- Locations: UK, Cyprus, Belize, Poland.
- Minimum Deposit: $0
- Maximum Leverage: 1:500
- Regulations:CySEC, FCA , KNF , IFSC
- Trading platform:xStation 5 , xStation Mobile
- Account Types: Standard, Pro, Islamic
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Maestro, Neteller, Paysafe, SafetyPay, Skrill
- 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.
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
XTB vs JP Markets: Features
XTB:
- Trading Instruments: 5800+Trading instruments including Real stocks, ETFs, CFDs on forex, CFDs on Indices, CFDs on Commodities
- Maximum leverage: The maximum leverage of XTB is as high as 500:1. Leverage may vary based on jurisdiction and tradable assets. For example, for CySEC jurisdiction the maximum leverage is 30:1.
- Minimum Deposit: No Minimum Deposit. You may deposit as low as possible.
- Account Types: Two ( Stocks &ETFS, and CFD Instruments)
- Trading Fees: The fees of CFD instruments start from as low as 0.5 pips spread. 0% commission on Stock Accounts
- PAMM/ MAM: No
- 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
XTB vs JP Markets: Pros and Cons
XTB Pros & Cons
- Regulated by FCA, FSC, KNF, DDM-M, DNMV,
- The Minimum deposit is as low as $1
- The Maximum Leverage is as high as 1:500
- Allows scalping, EA/Robot Trading, News Trading
- Trade stocks, ETFs, indices, commodities, cryptocurrencies, and forex
- 0% commission on stock and ETF trading (only applicable to some EU countries)
- Traders can enjoy commission-free trading with spreads as low as 0.25 pips
- XTB does not offer cTrader, MT4/MT5, or Ninja Trader which are the most popular platforms in the world
- No passive investment programme ( PAMM, MAM Accounts)
- Withdrawal fees for transfers below $100 or €200
- Inactivity fee (€10/monthly after 1+ year with no activity plus no deposit in the last 90 days)
- Complex trading platform for a beginner
- CFDs only – so traders do not own the underlying asset
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
XTB vs JP Markets: Side-by-Side Comparison
XTB Vs JP Markets: Our Scores and Ratings
We rated both brokers, XTB 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.
XTB :
JP Markets
Final Verdict :
XTB 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 XTB is $0, whereas the minimum deposit for JP Markets is $1. Additionally, the maximum leverage for the XTB is 30:1. In contrast, the maximum leverage for JP Markets is 2000:1.
Our score for XTB is 8.8, 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 XTB. However, If you prefer a lower minimum deposit forex broker that offers similar services, you may choose JP Markets.
