Wahed Invest vs JP Markets

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

Wahed Invest vs JP Markets Comparison Table 2024

Wahed Invest	JP Markets
3.1	1.5
Wahed Invest is ranked #111 among UK brokers.	JP Markets is ranked #92 among CFD brokers.
Review	Review
Wahed Invest is an ethical investment platform and robo-advisor aimed at Muslim investors. The firm is overseen by the Sharia Review Bureau, offering a range of stocks, ETFs, sukuk and gold. With a reasonable $100 minimum deposit and strong regulatory oversight, the firm has become an accessible option for over 200,000 investors.	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.
Pros
Commitment to ethical investing with rigorous screenings, plus Waqf practices to ensure income generated from assets is donated The broker's fee covers all custodian fees and transaction fees and traders are never charged for account balances of zero Strong regulation by the SEC in the US and the FCA in the UK, plus membership with the Shariah Review Bureau Six flexible investment portfolio styles, from Very Conservative to Very Aggressive, plus a rebalancing service Engaging blog featuring Islamic finance education and awareness, updated regularly	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
Cons
Platform is not as advanced as other competitors Higher fees than other investment firms Bank card funding not available $100 minimum withdrawal No live chat support	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
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
FCA Regulated
No List of FCA Regulated Brokers	No List of FCA Regulated Brokers
Instruments
Stocks, Sukuk, Gold	Forex CFDs, indices, stocks, commodities, cryptocurrencies
Demo Account
No	Yes
Minimum Deposit
$100	$0
Payment Methods
Wire Transfer	Credit Cards Skrill
Minimum Trade
Variable	0.01 Lots
Regulator
SEC, SRB	FSB
Mobile Apps
iOS & Android	Yes
iOS App Rating
Android App Rating
Margin Trading
No	No
MetaTrader 4
No	Yes
MetaTrader 5
No	No
cTrader
No	No
AlgoTrader
No	No
OmniTrader
No	No
TradingView
No	No
Autochartist
No	No
eSignal
No	No
Trading Central
No	No
STP Account
No	No
ECN Account
No	Yes
DMA Account
No	No
MAM Account
No	No
PAMM Account
No	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
No	No
Robo Advisor
Yes	No
Negative Balance Protection
No	No
Market Maker
No	No
P2P Trading
No	No
Spot Trading
No	No
Auto Trading
Robo-advisor
Copy Trading
No	No
Social Trading
No	No
Trade Signals
	No
VPS Hosting
No	No
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
Yes	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Islamic Account
Yes	No
Account Currencies
USD GBP MYR
Commodities
Gold	Gold
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.
Leverage
	1:400
FTSE Spread
	19 pips
GBPUSD Spread<
	2.4 pips
Oil Spread
	10 pips
Stocks Spread
	From 0.7 pips
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.
Assets
	30
GBPUSD Spread
	2.4 pips
EURUSD Spread
	2 pips
EURGBP Spread
	2.4 pips
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
Coins
	BTC LTC ETH XRP
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No
Wahed Invest	JP Markets
Review	Review
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