7 minute read
What Is JustMarkets Minimum Deposit Withdraw in Rands?
from JustMarkets
by Exness_India
If you’re a South African trader wondering about JustMarkets’ minimum deposit and withdrawal in Rands, you’re in the right place. JustMarkets, a globally recognized forex and CFD broker, offers a low entry point for traders, with a minimum deposit of USD 10 (approximately ZAR 180, depending on exchange rates) for most account types and a minimum withdrawal of USD 1 (approximately ZAR 18). But there’s more to it than just numbers—let’s break it down in a easy-to-digest way, so you can start trading with confidence or cash out your profits smoothly.
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In this article, we’ll dive into the specifics of JustMarkets’ deposit and withdrawal requirements, particularly in South African Rands (ZAR), explore the available payment methods, discuss processing times, fees, and share tips to make your trading journey hassle-free. Whether you’re a beginner or a seasoned trader, this guide will give you the full scoop. Let’s get started!
Why JustMarkets Appeals to South African Traders
JustMarkets, established in 2012, has gained popularity in South Africa thanks to its low minimum deposit, ZAR-based account options, and a variety of payment methods tailored for local traders. Regulated by reputable bodies like the Financial Sector Conduct Authority (FSCA) in South Africa, as well as CySEC (Cyprus), FSA (Seychelles), and VFSC (Vanuatu), JustMarkets offers a secure and transparent trading environment. The broker supports MetaTrader 4 and MetaTrader 5 platforms, making it accessible for both newbies and pros. Plus, its competitive spreads and high leverage (up to 1:3000) make it an attractive choice for those looking to maximize their trading capital.
But let’s get to the heart of the matter: how much do you need to deposit and withdraw in Rands, and how does it work?
JustMarkets Minimum Deposit in Rands
The minimum deposit to start trading with JustMarkets depends on the account type you choose. Here’s a quick breakdown:
Standard and Standard Cent Accounts: The minimum deposit is USD 10 (approximately ZAR 180). These accounts are ideal for beginners due to their low entry barrier and minimal risk, especially the Cent account, where balances are measured in cents for micro-trading.
Pro and Raw Spread Accounts: These require a higher minimum deposit of USD 100 (approximately ZAR 1,800). They’re designed for more experienced traders who want tighter spreads and advanced trading conditions.
Note: The ZAR equivalent can fluctuate based on the USD/ZAR exchange rate, which was around 1 USD = 18 ZAR at the time of writing. Always check the current rate when depositing.
JustMarkets also allows you to open a ZAR-based trading account, which is a game-changer for South African traders. This means you can deposit directly in Rands without worrying about conversion fees, which can eat into your trading capital. For example, if you deposit ZAR 180 into a Standard account, it’ll reflect as ZAR 180 in your trading account, avoiding any exchange rate markups.
How to Deposit Funds with JustMarkets
Depositing funds into your JustMarkets account is straightforward and designed for convenience. Here’s how you can do it:
Log into Your Personal Area: After registering on the JustMarkets website or app, go to the “Funds” section and select “Deposit.”
Choose Your Trading Account: Pick the account you want to fund (Standard, Cent, Pro, or Raw Spread).
Select a Payment Method: JustMarkets offers a variety of options tailored for South African traders, including:
Bank Transfers/EFT: Local bank transfers via South African banks are popular and fee-free from JustMarkets’ side.
Credit/Debit Cards: Visa and MasterCard are accepted, with a minimum deposit of USD 5 (around ZAR 90).
E-Wallets: Options like Skrill, Neteller, Perfect Money, and Sticpay are available, with instant processing.
Cryptocurrencies: Bitcoin, Ethereum, Tether, and others are supported, with a minimum deposit of USD 15 (around ZAR 270).
Local Payment Methods: Mobile money and local bank options like FasaPay and Doku Wallet cater to regional preferences.
Enter the Amount: Specify your deposit amount (minimum ZAR 180 for Standard/Cent accounts).
Confirm and Deposit: Follow the prompts to complete the transaction. Most deposits are instant, though bank transfers may take 1-2 hours.
Pro Tip: Ensure your account is verified (by submitting ID documents like a passport or driver’s license) to avoid deposit limits. Unverified accounts are capped at USD 2,000 (around ZAR 36,000) for deposits.
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JustMarkets Minimum Withdrawal in Rands
When it’s time to cash out your profits, JustMarkets makes withdrawals just as easy. The minimum withdrawal amount is USD 1 (approximately ZAR 18) for most methods, though it can vary slightly depending on the payment option. Here’s what you need to know:
Withdrawal Methods: You can withdraw funds using the same methods as deposits, including bank transfers, cards, e-wallets, and cryptocurrencies. However, note that bank cards are not supported for withdrawals—you’ll need to use an alternative like EFT or an e-wallet.
Processing Time: JustMarkets processes withdrawals within 1-2 hours during business hours, but the time it takes to reach your account depends on the method:
E-Wallets: Instant to 2 hours.
Cryptocurrencies: Up to 2 hours, plus blockchain processing time.
Bank Transfers/EFT: 1-3 business days for South African banks.
Fees: JustMarkets doesn’t charge withdrawal fees, but third-party providers (like banks or blockchain networks) may apply their own charges. For example, cryptocurrency withdrawals include a blockchain fee, and some banks may charge for EFTs.
Anti-Money Laundering (AML) Policy: Withdrawals must be made to the same account or method used for deposits, and third-party withdrawals are not allowed for security reasons.
To withdraw funds, follow these steps:
Log into your Personal Area and navigate to “Funds” > “Withdrawal.”
Select the trading account you want to withdraw from.
Choose your preferred withdrawal method.
Enter the amount (minimum ZAR 18 for most methods) and confirm with a one-time password (OTP) for security.
Submit the request and track its status in the “Transaction History” section.
Key Considerations for South African Traders
While JustMarkets’ low minimum deposit and withdrawal thresholds are appealing, here are a few things to keep in mind:
Currency Conversion: If you’re using a payment method in USD or another currency, JustMarkets converts it to ZAR at their internal rates with no additional conversion fees. However, your bank or payment provider might charge a small fee.
Account Verification: Complete the verification process early to avoid delays in withdrawals. You’ll need to upload a high-resolution copy of your ID (passport or driver’s license) and proof of residence.
Bonuses and Promotions: JustMarkets offers a 30 USD no-deposit bonus for new traders and a 50% deposit bonus for both new and existing clients. These can boost your trading capital, but be aware that bonuses often come with trading volume requirements before you can withdraw profits.
Regulatory Concerns: While JustMarkets is regulated by the FSCA in South Africa, some reviews (e.g., FxScouts Nigeria and Kenya) have raised concerns about weak oversight in other jurisdictions and occasional withdrawal delays. Always double-check your withdrawal details and contact support if issues arise.
Inactivity Fees: If your account is dormant for 150 days, JustMarkets charges a USD 5 (around ZAR 90) inactivity fee, so keep your account active or withdraw funds if you’re not trading.
Tips for a Smooth Trading Experience
To make the most of JustMarkets’ deposit and withdrawal process, here are some practical tips:
Choose ZAR-Based Accounts: Opt for a ZAR account to avoid conversion fees and simplify transactions.
Use E-Wallets for Speed: For faster withdrawals, use e-wallets like Skrill or Neteller, which are often instant compared to bank transfers.
Verify Early: Submit your verification documents right after registering to unlock higher deposit limits and enable withdrawals.
Check Provider Fees: Before depositing or withdrawing, confirm any fees your bank or payment provider might charge to avoid surprises.
Contact Support: JustMarkets offers 24/7 multilingual support via live chat, email, or phone. If you face any issues, their team is known for quick and helpful responses.
Final Thoughts
JustMarkets makes trading accessible for South African traders with a minimum deposit of ZAR 180 (USD 10) for Standard and Cent accounts and a minimum withdrawal of ZAR 18 (USD 1) for most methods. With no internal fees, a variety of payment options (including local EFT and cryptocurrencies), and ZAR-based accounts, it’s a solid choice for both beginners and experienced traders. However, always verify your account early, double-check third-party fees, and stay mindful of exchange rate fluctuations.
✅ Trade with JustMarkets now: Open An Account or Visit Brokers 👈
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