7 minute read
Is JustMarkets Legal in UK? Here’s the Clear Answer
from JustMarkets
by Exness_India
If you're based in the UK and considering using JustMarkets for your trading needs, the first and most important question you must ask is: Is JustMarkets legal in the UK? The straightforward answer is: No, JustMarkets is not legally authorized to operate in the UK by the Financial Conduct Authority (FCA)—the main regulatory body overseeing financial services in the United Kingdom.
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This article dives deep into what this means for UK traders, the implications of using an offshore broker, the risks involved, and what alternatives you might want to consider.
What Does It Mean for a Broker to Be Legal in the UK?
To be legal in the UK, a trading platform or broker must be regulated by the FCA (Financial Conduct Authority). This means the broker has to comply with strict standards that include:
· Capital requirements
· Transparent pricing
· Segregation of client funds
· Compensation schemes in case of broker failure
· Dispute resolution processes
These measures exist to protect retail investors and ensure that brokers act in the clients’ best interests. If a company is not regulated by the FCA, it is not legally permitted to solicit or offer financial services to residents in the UK.
So, Is JustMarkets Regulated by the FCA?
No. JustMarkets is not regulated by the FCA.
JustMarkets operates under the business name of Just Global Markets Ltd, which is incorporated and registered in Seychelles. The company is regulated by the FSA (Financial Services Authority of Seychelles)—an offshore financial regulator.
While this may sound official, the FSA in Seychelles does not offer the same level of consumer protection or oversight as the FCA. More importantly, JustMarkets is not listed on the FCA register, and the broker itself states in its own legal documentation that its services are not intended for residents in the UK.
In practical terms, this means UK residents are not legally allowed to use JustMarkets under UK financial law. If you access the platform from within the UK, you do so at your own risk and without regulatory protection.
Can UK Residents Still Access JustMarkets?
Technically, yes—UK residents can still access and register on JustMarkets using a VPN or by bypassing geo-restrictions. However, this does not make the activity legal or compliant with UK financial regulations. In fact, if anything goes wrong—such as your funds being frozen or lost—you have no legal recourse in the UK.
Furthermore, the FCA frequently blacklists unauthorized brokers who continue to solicit UK residents, and any user funds held with such brokers may be at significant risk.
What Are the Risks of Using an Unregulated Broker Like JustMarkets in the UK?
There are several critical risks to be aware of when trading with an unregulated offshore broker like JustMarkets from the UK:
1. No Protection Under UK Law
You will not be covered by the Financial Services Compensation Scheme (FSCS). If the broker collapses or refuses withdrawals, you could lose 100% of your funds.
2. Lack of Oversight
Offshore regulators often lack the power or intent to enforce rules against misconduct. If the broker manipulates prices, delays withdrawals, or suspends accounts, you're on your own.
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3. Withdrawal Issues
Many complaints against offshore brokers revolve around delayed or denied withdrawals. Without FCA backing, there is no authority to enforce the release of your funds.
4. Aggressive Marketing or Account Freezes
Offshore brokers sometimes engage in high-pressure sales tactics. In more serious cases, they may freeze your account without warning based on loosely defined "suspicious activity."
5. High Leverage and Risky Products
JustMarkets offers leverage up to 1:3000 for some accounts. In the UK, leverage for retail clients is capped at 1:30 for major FX pairs. That’s because high leverage can amplify losses. Using such high leverage is extremely risky and is not allowed under UK law.
Why Is JustMarkets Popular Despite These Risks?
Despite the risks and legal barriers, platforms like JustMarkets are still popular among some traders due to:
· High leverage options
· Flexible account types
· Low minimum deposits
· Bonus offers or promotions
· Crypto-based deposits and withdrawals
However, these benefits often come at the cost of regulatory protection, transparency, and security. For beginners or even experienced traders in the UK, the risks outweigh the benefits.
What Does JustMarkets Say About UK Users?
JustMarkets’ terms and conditions make it clear: they do not target users in jurisdictions where their services are not permitted. Here's an excerpt from their website:
“The services of the Company and the information on this site are not directed at residents of any country or jurisdiction where such distribution or use would be contrary to local law or regulation.”
This is essentially a legal disclaimer that distances the company from responsibility if UK users access their services against local laws. So, even if you manage to create an account, you are doing so entirely at your own risk.
FCA’s Stance on Offshore Brokers
The FCA has repeatedly warned UK consumers about the dangers of using offshore brokers. These firms often appear legitimate and offer attractive trading conditions, but:
· They may not follow any standard rules.
· They might not store client funds separately.
· They may not have any dispute resolution channels.
· They may shut down or disappear overnight.
The FCA also maintains a warning list of firms that are known to operate in the UK without proper authorization. Using one of these firms could result in financial loss without compensation.
Alternatives: FCA-Regulated Brokers in the UK
If you're looking for a safe, legal, and transparent trading experience, here are some FCA-regulated alternatives:
· IG Group – One of the UK’s most reputable brokers with a long track record.
· CMC Markets – Offers a wide range of instruments with excellent regulatory compliance.
· eToro (UK) – FCA-regulated and ideal for beginner traders interested in social trading.
· Pepperstone UK – Offers tight spreads and fast execution under FCA supervision.
Each of these brokers offers a secure trading environment, segregated client funds, and customer recourse mechanisms that JustMarkets does not.
What If You’ve Already Opened a JustMarkets Account?
If you're a UK resident and have already opened or funded an account with JustMarkets, here are some important steps:
1. Withdraw your funds immediately, if possible.
2. Stop trading to avoid potential losses or account freezes.
3. Contact FCA if you feel you were misled or solicited illegally.
4. Avoid sharing further personal or financial information with the broker.
If you cannot withdraw your funds or believe you’ve been scammed, report it directly to Action Fraud UK and the FCA.
Final Verdict: Should You Use JustMarkets in the UK?
Absolutely not. JustMarkets is not legal or authorized to operate in the UK, and using it exposes you to significant financial and legal risks. While it may offer tempting trading conditions, those benefits come with zero regulatory protection, no compensation schemes, and no enforceable legal rights in the event something goes wrong.
For anyone serious about protecting their money and complying with UK financial laws, it’s best to stick with FCA-regulated brokers. It’s not worth risking your savings for a bit of extra leverage or a sign-up bonus that could come at the cost of your entire account.
In Summary:
· ✅ JustMarkets is not FCA-regulated.
· ❌ It is not legal for UK residents to use it.
· ⚠️ Using it comes with high financial and legal risks.
· 🔍 Always check FCA registration before choosing a broker.
· ✅ Safer alternatives are widely available in the UK.
Stay safe, stay informed—and always trade with regulation in mind.
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