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JQL MARKETS

Canada|2-5 years|
Suspicious Scope of Business|Australia Appointed Representative(AR) Revoked|High potential risk|

https://www.jqlmarkets.com/

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Influence

Influence

D

Influence index NO.1

Japan 2.43

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Contact

+1 (236) 593-1080
info@jqlmarkets.com
https://www.jqlmarkets.com/
JQL MARKETS LIMITED (Headquarters) 500-7030 Woobine Ave Markham, On, Canada

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

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1G

40G

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Disclosure

Danger

ID BAPPEBTI
2022-02-02

Contact number

English

+1 (236) 593-1080

Other ways of contact

Broker Information

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Company Name

JQL MARKETS

Abbreviation

JQL MARKETS

Platform registered country and region

Canada

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Warning: Low score, please stay away! 3
Previous Detection : 2024-07-22
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • AustraliaASIC (license number: 001294311) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

JQL MARKETS · WikiFX Survey

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JQL MARKETS · Company Summary

Aspect Information
Registered Country/Area Canada
Founded Year 2-5 years
Company Name JQL MARKETS
Regulation No Regulation
Minimum Deposit Silver: $1,000<br>Gold: $5,000<br>Diamond: $10,000
Maximum Leverage Up to 1:400
Spreads Starting from 0.5 pips
Trading Platforms MetaTrader 5 (MT5)
Tradable Assets Forex, Indices, Commodities, Equities, ETFs
Account Types Silver, Gold, Diamond
Demo Account Not specified
Islamic Account Not specified
Customer Support Phone: +1 (236) 593-1080<br>Email: info@jqlmarkets.com
Payment Methods Online banking, Cryptocurrency
Educational Tools Not specified

General Information

JQL MARKETS is a global financial institution that provides clients with the opportunity to trade a range of financial instruments, including Forex, Indices, Commodities, Equities, and ETFs. However, it is important to note that the regulatory status of JQL MARKETS is listed as “Revoked” by ASIC. This raises concerns about the validity of its license and regulatory oversight. The broker has a low score and is considered high-risk, indicating potential risks associated with its operations. Clients are advised to approach JQL MARKETS with caution and carefully consider the potential risks involved. The broker offers different account types with varying minimum deposit requirements and leverage options. Spreads start from 0.5 pips, and there are commissions for certain account types. JQL MARKETS provides access to the MetaTrader 5 (MT5) trading platform, a popular choice among traders. Clients can deposit funds using online banking or cryptocurrency methods. Trading hours vary depending on the market instrument, and the broker restricts its services to residents of certain countries. Customer support is available via phone and email, and the broker maintains a presence on social media platforms.

Pros and Cons

JQL MARKETS offers a range of financial instruments and multiple account types for clients to choose from. With access to the MetaTrader 5 platform, clients can trade efficiently using various tools and indicators. However, it is important to consider the cons as well. The regulatory status of JQL MARKETS is listed as “Revoked,” raising concerns about its legitimacy and reliability. There is also a lack of transparency regarding important details such as spreads, commissions, and specific account features. Additionally, the broker restricts its services to residents of certain countries. Before investing, it is crucial to carefully evaluate the available information and consider the potential risks involved.

Pros Cons
Offers a range of financial instruments Regulatory status listed as “Revoked”
Multiple account types Lack of transparency
Access to MetaTrader 5 platform Services restricted to residents of certain countries
Offers leverage up to 1:400 Potential risks associated with revoked license
Provides customer support Limited information on spreads and commissions
Accepts deposits via online banking and cryptocurrency Lack of clearly stated terms and conditions
Forex trading available 24/5 Concerns about withdrawal options and processes
Presence on social media platforms Restricted services for residents of certain countries
Bonuses and promotional offers
User-friendly trading platform

Is JQL MARKETS Legit?

Based on the information provided, it appears that JQL MARKETS (AUSTRALIA) PTY LTD is a licensed institution regulated by the Australian Securities & Investment Commission (ASIC). However, it is important to note that the regulatory status of JQL MARKETS is listed as “Revoked” as of the current status update. This means that the license granted to JQL MARKETS may have been revoked or no longer valid.

The information also states that JQL MARKETS does not have a valid regulation and there is no trading software associated with the broker. It is mentioned that there is a warning indicating a low score and advising to stay away, suggesting potential risks associated with dealing with this broker.

Given the revoked regulatory status and the lack of a valid regulation, it is advisable to exercise caution and consider the potential risks involved when dealing with JQL MARKETS.

regulation

Market Instruments

JQL Markets offers investors a range of financial instruments to trade in the global markets. Here are the types of market instruments available:

FOREX: Investors can engage in Forex trading through JQL Markets. Forex involves the trading of currency pairs, where investors speculate on the relative value of one currency against another. This market allows participants to take advantage of fluctuations in exchange rates, aiming to profit from currency price movements.

INDICES: JQL Markets provides access to a variety of indices. An index represents a group of stocks from a specific market or sector. By trading indices, investors can gain exposure to broader market trends and diversify their portfolios. This allows them to potentially profit from the performance of an entire market or specific sectors, rather than trading individual stocks.

COMMODITIES: JQL Markets enables investors to trade various commodities. Commodities include physical substances such as gold, silver, oil, natural gas, agricultural products, and more. Trading commodities allows investors to speculate on the price movements of these essential resources, which can be influenced by factors such as supply and demand dynamics, geopolitical events, and economic conditions.

EQUITIES: JQL Markets offers the opportunity to trade equities. Equities represent ownership shares in individual companies. By trading equities, investors can participate in the performance of specific companies or sectors. They can potentially profit from price fluctuations in individual stocks, driven by factors such as company earnings, market sentiment, and industry developments.

ETFS (Exchange-Traded Funds): JQL Markets provides access to trading Exchange-Traded Funds (ETFs). ETFs are investment funds that are traded on stock exchanges, representing a basket of assets such as stocks, bonds, commodities, or a combination thereof. Investing in ETFs allows investors to gain exposure to a diversified portfolio of assets in a single trade, providing potential opportunities for broad market participation or sector-specific strategies.

Pros Cons
Wide range of financial instruments Lack of specific information on instrument diversity
Opportunity for Forex trading Limited details on available indices and commodities
Access to various indices Insufficient information on equity trading options
Trading opportunities in commodities Lack of comprehensive information on ETF offerings
Potential for profit from currency fluctuations Lack of specific information on ETF trading

Account Types

JQL Markets provides users with five account types to choose from: Silver, Ruby, Gold, Diamond, and Platinum. The minimum deposit required for the basic account is $1,000. It is worth noting that the broker does not adhere to the internationally recognized entry value of $250, which may raise some concerns.

Each account comes with a welcome bonus, which is a practice that is generally discouraged by regulators. Scam artists often utilize welcome bonuses as a means to block withdrawals.

Here is a breakdown of the different account types:

1. Silver: This account requires a deposit of $1,000 and offers a 10% deposit bonus. No additional advantages or features are specified by JQL Markets.

2. Ruby: The minimum deposit for the Ruby account is $3,000, and it comes with a 15% bonus.

3. Gold: To open a Gold account, a minimum deposit of $5,000 is required. This account type provides a 20% deposit bonus.

4. Diamond: The Diamond account necessitates a minimum deposit of $10,000 and offers a 30% deposit bonus.

5. Platinum: With a minimum deposit requirement of $30,000, the Platinum account grants a 30% deposit bonus. However, the broker does not provide any further information regarding the features of these accounts.

market-instruments
Pros Cons
Multiple account types to choose from Minimum deposit higher than internationally recognized value
Account types offer deposit bonuses Concerns regarding the use of welcome bonuses
Provides different levels of benefits and rewards Lack of specified advantages or features for certain accounts
Allows for higher leverage up to 1:400 Limited information on features and benefits
Potential for increased trading opportunities

Spreads & Commissions

JQL Markets provides spreads for their clients, with starting points of 0.5 pips on both Basic and Pro accounts. They also have a commission structure in place, where clients with a Basic account are charged a commission of 10 USD, while clients with a Pro account are charged a commission of 8 USD. These spreads and commissions are applicable to the trading of various market instruments offered by JQL Markets.

Deposit & Withdrawal

JQL Markets offers clients the option to deposit funds through online banking or cryptocurrency methods. The available deposit methods include Bitcoin, Ether/Ethereum, and Tether (USDT). However, it is important to note that there have been concerns regarding the lack of deposit and withdrawal options provided by JQL Markets. Additionally, the absence of clearly stated terms and conditions raises questions about potential risks and liabilities that clients may face. In order to address these concerns, efforts have been made to gather information about the bank account numbers used for deposits, with the aim of exposing the individuals involved and seeking potential refunds through the involvement of relevant financial institutions.

Pros Cons
Offers deposit methods Concerns about the lack of deposit and withdrawal options
Accepts online banking and cryptocurrency deposits Absence of clearly stated terms and conditions
Provides alternative payment options Potential risks and liabilities for clients
Allows deposits in Bitcoin, Ether/Ethereum, and Tether (USDT) Lack of transparency in the deposit and withdrawal process
Efforts made to gather information for potential refunds

Trading Platform Available

JQL Markets provides its clients with the MetaTrader 5 (MT5) platform, which is a popular and widely utilized trading platform in the financial industry. The MT5 platform offers a range of features and functionalities that enable clients to access and participate in the global financial markets. With the MT5 platform, clients can execute trades, monitor market movements, analyze price charts, and utilize various technical indicators to make informed trading decisions. The platform is known for its user-friendly interface and extensive range of tools, making it suitable for both novice and experienced traders.

Pros Cons
Offers MetaTrader 5 (MT5) platform No support for MetaTrader 4 (MT4) platform
User-friendly interface Limited customization options
Wide range of features and tools Potential learning curve for new users

Bonus

JQL Markets offers various bonuses as part of their promotional campaigns. One such bonus is a $100 bonus, which is non-withdrawable. Additionally, if a trader makes a deposit of $30,000, $10,000, or $5,000, they are eligible to receive a bonus for their first trade every month for a duration of one year. This bonus will match the profit or loss of that trade up to $100.

Another bonus offered by JQL Markets is a cashback program, where traders can receive a maximum cashback of $3 and a minimum cashback of $0.3 when trading a standard lot with a deposit equal to or higher than $1,000.

Pros Cons
Provides additional incentives for traders Non-withdrawable bonus of $100
Encourages active trading Limited cashback amounts
Opportunity to earn additional profits Cashback program with low maximum cashback
Can enhance trading experience Bonuses may have restrictions and conditions
Potential for increased account balance Potential withdrawal limitations for bonus funds

Trading Hours

JQL Markets offers different trading hours for various market instruments. Specifically, Forex trading is accessible around the clock, allowing clients to trade 24 hours a day, 5 days a week without any interruptions. This means that traders have the opportunity to participate in the Forex market at any time during the week, excluding weekends.

Accepted Countries

JQL Markets (Australia) Pty Ltd restricts its services to residents of certain countries. The following countries are not eligible to access their services: United States of America, Canada, Australia, Israel, and the Islamic Republic of Iran. Additionally, residents of India are also prohibited from using their services.

Customer Support

JQL Markets provides customer support for clients who have questions or concerns. Clients can contact their customer support team by calling (236) 593-1080 or emailing info@jqlmarkets.com.

Additionally, JQL Markets maintains a presence on social media platforms such as Twitter (https://twitter.com/jqlmarkets?s=11), Facebook (https://www.facebook.com/JQLmarkets/), and Instagram (https://instagram.com/jqlmarkets?igshid=1rk0cwcedpt3t). These platforms may provide additional information and updates related to JQL Markets.

Conclusion

JQL Markets is a global financial institution offering clients the opportunity to trade a variety of financial instruments through contract for differences (CFDs). While JQL Markets is authorized and regulated by the Australian Securities and Investments Commission (ASIC), it is important to note that its regulatory status is currently listed as “Revoked,” indicating potential risks. The broker provides access to the MetaTrader 5 platform, allowing clients to trade Forex, Indices, Commodities, Equities, and ETFs. However, there are concerns regarding the lack of deposit and withdrawal options, and the broker's restricted services to residents of certain countries. It is advisable for individuals to exercise caution and consider these factors before engaging with JQL Markets.

FAQs

Q: Is JQL Markets regulated?

A: JQL Markets (Australia) Pty Ltd is authorized and regulated by the Australian Securities and Investments Commission (ASIC) as an Appointed Representative. However, it is important to note that the regulatory status of JQL Markets is currently listed as “Revoked.”

Q: What financial instruments can I trade with JQL Markets?

A: JQL Markets offers a range of financial instruments including Forex, Indices, Commodities, Equities, and ETFs.

Q: What are the account types and leverage offered by JQL Markets?

A: JQL Markets provides five account types: Silver, Gold, Diamond, Basic, and Pro. The maximum leverage available is up to 1:400.

Q: What are the spreads and commissions at JQL Markets?

A: The spreads start from 0.5 pips on Basic and Pro accounts. The commission is $10 for the Basic account and $8 for the Pro account.

Q: What trading platform does JQL Markets provide?

A: JQL Markets offers access to the MetaTrader 5 (MT5) platform, a popular trading platform used by traders worldwide.

Q: How can I deposit and withdraw funds with JQL Markets?

A: JQL Markets allows clients to deposit funds through online banking or cryptocurrency methods. However, it is important to exercise caution due to concerns raised about the lack of deposit and withdrawal options.

Q: What are the trading hours at JQL Markets?

A: The trading hours vary depending on the specific market instrument. Forex trading, for example, is available 24 hours a day, 5 days a week.

Q: Are there any restrictions on countries accepted by JQL Markets?

A: JQL Markets (Australia) Pty Ltd does not provide services to residents of certain countries, including the United States of America, Canada, Australia, Israel, and the Islamic Republic of Iran.

Q: How can I contact JQL Markets customer support?

A: Clients can contact JQL Markets customer support by calling (236) 593-1080 or emailing info@jqlmarkets.com. Additionally, they maintain a presence on social media platforms like Twitter, Facebook, and Instagram.

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