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. The broker has a low score and is considered high-risk, indicating potential risks associated with its operations.
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.
Pros and Cons
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 This means that the license granted to JQL MARKETS may have been revoked or no longer valid.
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.
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.
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.
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.
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.
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).
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.
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.
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.
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”.
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.
FAQs
What are the account types and leverage offered by JQL Markets?
JQL Markets provides five account types: Silver, Gold, Diamond, Basic, and Pro. The maximum leverage available is up to 1:400.
What are the spreads and commissions at JQL Markets?
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.
Are there any restrictions on countries accepted by JQL Markets?
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.
How can I contact JQL Markets customer support?
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.
