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JP Markets vs RoboForex

JP Markets or RoboForex – which is better for UK traders 2024? Compare JP Markets and RoboForex in this detailed breakdown of their platforms, features and fees.

JP Markets vs RoboForex Comparison Table 2024
JP Markets	RoboForex

1.5	4.5
JP Markets is ranked #91 among CFD brokers.	RoboForex is ranked #8 among CFD brokers.
Review	Review
JP Markets is a South African forex and CFD broker established in 2016. The broker is regulated by the FSCA in South Africa although the firm has been involved in controversy in recent years. The brokerage offers thousands of assets in ECN and STP accounts, including forex, stocks and commodities. The firm promises high-quality support, tailored services and innovation to its global traders.	RoboForex is an online broker, established in 2009 and registered with the IFSC in Belize. Traders can choose from five accounts (Prime, ECN, R StocksTrader, ProCent, Pro) catering to different needs with trades from 0.01 lots and spreads from 0 pips. RoboForex has also enhanced its offering over the years, adding CFD instruments and launching its stock trading platform, plus the CopyFX system.
	RoboForex Ltd and its affiliates do not target EU/EEA/UK clients. Please be aware that you are able to receive investment services from a third-country firm at your own exclusive initiative only, taking all the risks involved.
Pros
A wide selection of 5000 instruments spanning stocks, forex, indices, commodities and cryptos No fees on deposits or withdrawals plus a breadth of local payment methods for South African clients Range of ECN or STP account types with ZAR, USD and GBP base currencies Decent demo account for beginners with flexible leverage Same-day deposits and withdrawals Free forex courses and webinars WhatsApp customer support MetaTrader 4 integration	RoboForex is known for its tight spreads starting from 0 pips and low minimum deposits from $10, making it accessible to those on a budget. The ability to trade with micro lots further lowers the barrier to entry for new traders. The broker offers leverage up to 1:2000 for certain account types, which is among the highest in the industry. This high leverage allows traders to maximize their trading potential, albeit with a corresponding increase in risk. The R Stocks Trader platform rivals leading solutions like MT4, with netting and hedging capabilities, comprehensive backtesting, Level II pricing, and a flexible workspace. RoboForex offers over 12,000 instruments, providing more short-term trading opportunities than the vast majority of online brokers, with forex, stocks, indices, ETFs, commodities, and futures. The broker offers two commission-free withdrawals each month in the Free Funds Withdrawal program, helping traders to minimize transaction costs.
Cons
Higher trading fees than many brokers with wide spreads and a $10 commission per lot Scalping, hedging and automated trading not permitted Mainly aimed at South African clients Lack of transparency on the website No MetaTrader 5 software Some customer complaints Outdated blogs	Despite 15+ years in the industry and registering with the Financial Commission, RoboForex is authorized by one ‘Red-Tier’ regulator – the IFSC in Belize, lowering the level of regulatory protections for traders. While RoboForex offers competitive spreads, some of its account types come with high trading commissions up to $20 per lot, trailing the cheapest brokers, such as IC Markets. RoboForex now restricts base currency options to USD and EUR. This limitation may inconvenience traders preferring to manage their accounts in other currencies, while potentially leading to conversion fees. RoboForex provides a variety of account types, which, while offering flexibility, can be overwhelming for newer traders trying to choose the most suitable option for their trading style. Alternatives, notably eToro, provide a smoother entry into online trading with one retail account. Despite offering a range of platforms, RoboForex still doesn't support the increasingly popular cTrader. This might deter traders who prefer this specific platform for their trading activities and is available at firms like Fusion Markets.
Awards
South Africa’s Best Broker 2019 - Global Business Outlook South Africa’s Fastest Growing Broker 2019 - International Finance The Most Transparent Broker 2019 - The European Forex CEO of the year South Africa 2020 - International Business Magazine	Best Multi Asset Trading Platform 2023 - Global Brands Magazine Awards Best Trading Conditions 2023 - International Business Magazine Awards Best Mobile Trading App 2022 - GF Awards B2B Most Trusted Broker 2022 - International Business Magazine Awards Best Investment Products 2021 - Global Brands Magazine Awards Best Global Mobile Trading App 2020 - Global Forex Awards B2B Best Broker of the CIS 2019 - IAFT Awards Best Investment Products 2019 - Global Brands Magazine
FCA Regulated
No List of FCA Regulated Brokers	No List of FCA Regulated Brokers
Instruments
Forex CFDs, indices, stocks, commodities, cryptocurrencies	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures
Demo Account
Yes	Yes
Minimum Deposit
$0	$10
Payment Methods
Credit Cards Skrill	ADVcash Alipay AstroPay ecoPayz MoneyGram Neteller Perfect Money Rapid Transfer SafeCharge Skrill Sofort Trustly Visa Wire Transfer
Minimum Trade
0.01 Lots	0.01 Lots
Regulator
FSB	IFSC
Mobile Apps
Yes	iOS & Android, R StocksTrader
Trading App
	RoboForex continues to excel with its wide range of iOS and Android-friendly platforms to meet short-term trading needs, including MT4 and MT5. The R StocksTrader app performed particularly well during testing, with a vast selection of stocks and ETFs, portfolio analytics, customizable watchlists, an events tracker, plus a fast and dependable mobile trading environment. The only notable absence in the RoboForex offering is the increasingly popular cTrader app, that’s favored by many traders.
iOS App Rating
	4.7
Android App Rating
	4.4
Margin Trading
No	Yes
MetaTrader 4
Yes	Yes
MetaTrader 5
No	Yes
cTrader
No	No
AlgoTrader
No	No
OmniTrader
No	No
TradingView
No	Yes
Autochartist
No	No
eSignal
No	No
Trading Central
No	No
STP Account
No	Yes
ECN Account
Yes	Yes
DMA Account
No	No
MAM Account
No	Yes
PAMM Account
No	No
LAMM Account
No	Yes
Demat Account
No	No
AI / Machine Learning
No	No
Robo Advisor
No	No
Negative Balance Protection
No	Yes
Market Maker
No	No
P2P Trading
No	No
Spot Trading
No	Yes
Auto Trading
	Expert Advisors (EAs) on MetaTrader, Strategy Builder in R StocksTrader
Copy Trading
No	Yes
Copy Trading Platform
	RoboForex’s CopyFX service is designed specifically for currency traders with flexible control over your funds. The ‘Rating’ view provides helpful metrics on master traders, notably profit/loss, maximum drawdown, balance and number of trades spanning time intervals from 1 week to 6 months. That said, the joining process and resources are convoluted, which may confuse newer investors, while the interface trails the smooth user experience provided by category leaders like eToro.
Social Trading
No	Yes
Trade Signals
No	Yes
VPS Hosting
No	Yes
Tournaments
No	No
Demo Competitions
No	Yes
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Inactivity Fee
	$0
Islamic Account
No	Yes
Account Currencies
	USD EUR
Commodities
Gold	Gold Silver Nickel Oil Copper Palladium Platinum Natural Gas Cocoa Coffee Corn Wheat Sugar Soybeans
CFD
Access over 5000 CFDs with high leverage up to 1:500. Trading costs are high with a $10 commission per lot, though the broker does offer accessible trading in ZAR, USD or GBP for global clients.	RoboForex offers a growing suite of over 12,000 CFDs, encompassing forex, stocks, indices, commodities, futures and ETFs. With an initial deposit of $10 and micro lot trading through to very high leverage up to 1:2000, RoboForex caters to a broad range of derivative traders. On the downside, analysis reveals execution speeds of 1-3 seconds, noticeably slower than IC Markets at 0.35 seconds, and suboptimal for fast-paced strategies like scalping.
Leverage
1:400	1:2000
FTSE Spread
19 pips
GBPUSD Spread<
2.4 pips	0.4
Oil Spread
10 pips	1.7
Stocks Spread
From 0.7 pips	0.01
Forex
JP Markets only offers 30 currency pairs, which does not match top brokers. Average spreads on EUR/USD are also around 2 pips, which is higher than many competitors.	RoboForex offers trading on 30+ currency pairs, trailing category leaders like Pepperstone with its 90+ forex assets. That said, the Prime and ECN accounts feature competitive average spreads of 0.1 pips on the EUR/USD. Additionally, with a minimum investment of $100, traders can utilize the CopyFX system to replicate the strategies of seasoned currency traders.
Assets
30	30+
GBPUSD Spread
2.4 pips	0.4
EURUSD Spread
2 pips	0.1
EURGBP Spread
2.4 pips	0.4
Cryptocurrency
Some digital tokens are available, including Bitcoin, though crypto deposits are not supported. Crypto traders may want to consider a more reliable and regulated broker.
Spread
Variable	Variable
Coins
BTC LTC ETH XRP	No
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

JP Markets	RoboForex
Review	Review
	RoboForex Ltd and its affiliates do not target EU/EEA/UK clients. Please be aware that you are able to receive investment services from a third-country firm at your own exclusive initiative only, taking all the risks involved.
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