Is JustMarkets Legal in UAE? A Comprehensive Review

Yes, JustMarkets is accessible to traders in the UAE, but it is not officially regulated by the UAE’s Securities and Commodities Authority (SCA). This means UAE residents can use JustMarkets to trade forex and CFDs, but the platform operates under international licenses—not a local UAE license. Understanding this distinction is critical for anyone in the UAE considering JustMarkets. While the platform is globally recognized and widely used, the regulatory situation within the UAE requires a closer look to assess the level of safety and legality.

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What Is JustMarkets?

JustMarkets is a global forex and CFD broker offering trading services on a wide range of financial instruments, including:

·         Forex (major, minor, exotic currency pairs)

·         Indices

·         Commodities (like gold, silver, oil)

·         Cryptocurrencies

·         Stocks

Founded in 2012, JustMarkets (formerly JustForex) is popular in Asia, Africa, and parts of Europe. The company claims to serve millions of clients worldwide, with a strong focus on competitive spreads, flexible account types, and user-friendly trading platforms like MetaTrader 4 and MetaTrader 5.

Who Regulates JustMarkets?

As of now, JustMarkets is regulated by the Financial Services Authority (FSA) of Seychelles, under the name JF Global Ltd. Seychelles is considered an offshore jurisdiction, and while its FSA does provide a regulatory framework, it is not as strict or well-respected as top-tier regulators like:

·         FCA (UK)

·         ASIC (Australia)

·         CySEC (Cyprus)

·         SCA (UAE)

JustMarkets is not regulated by any of these top-tier financial authorities. This fact is important for UAE residents to consider.

Is JustMarkets Licensed by the UAE SCA?

No, JustMarkets does not hold a license from the Securities and Commodities Authority (SCA) in the UAE.This means it cannot legally market or promote its services within the UAE as a locally licensed broker. However, the platform remains accessible online for individual traders who choose to register on their own initiative.

This creates a legal gray area. Let’s clarify what that means for UAE residents:

·         Individual Trading Use: You can open an account and trade with JustMarkets if you do so independently.

·         Promoting JustMarkets in UAE: It is illegal to promote or offer financial services in the UAE without an SCA license.

·         Disputes or Legal Protection: Since JustMarkets is not licensed locally, the SCA cannot protect you in the case of fraud or conflict.

In short, UAE residents can use JustMarkets at their own risk, but the platform itself is not legally authorized to offer services or market to UAE residents.

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Is It Illegal to Use JustMarkets in the UAE?

Using JustMarkets in the UAE is not illegal for individuals, but it comes with risk.There are no laws that explicitly ban trading with offshore brokers. However, if problems arise—such as withdrawal issues, account freezes, or trading disputes—you may have limited legal recourse.

Let’s break down the implications:

·         Legal gray area: You're not breaking the law by using the platform, but you're also not protected by UAE financial authorities.

·         No SCA oversight: The UAE’s financial regulator will not intervene on your behalf.

·         No local customer service: Support is only available internationally, which can cause delays and misunderstandings.

Can UAE Traders Withdraw Funds from JustMarkets?

Yes, UAE traders can deposit and withdraw funds from JustMarkets using:

·         Credit/debit cards

·         Bank transfers

·         E-wallets like Skrill, Neteller

·         Crypto wallets

However, some banks in the UAE may flag or block transactions involving offshore brokers, especially if the institution has internal policies against forex trading. In such cases, using an e-wallet or crypto wallet may be more reliable.

Always verify with your bank before making large transactions.

Is JustMarkets Safe for UAE Traders?

JustMarkets is moderately safe, but not ideal for traders in highly regulated environments like the UAE. Here’s why:

Pros:

·         Has been operational for over a decade

·         Offers negative balance protection

·         Uses segregated accounts for client funds

·         Supports MetaTrader platforms

·         Transparent fees and spreads

Cons:

·         Offshore regulation (Seychelles FSA)

·         No protection under UAE law

·         Limited accountability in case of fraud or insolvency

·         Not a member of investor compensation schemes like FSCS or CySEC’s ICF

While JustMarkets is not a scam and has a decent reputation globally, the lack of local regulation should make cautious investors think twice.

Should You Trust Offshore Brokers in UAE?

Trading with offshore brokers like JustMarkets is common in the UAE, especially among:

·         Expats

·         High-frequency forex traders

·         Crypto enthusiasts

·         Individuals avoiding stricter KYC/AML policies

But there are risks:

1.      No Deposit Insurance: Your funds are not protected in the case of broker bankruptcy.

2.      No Regulator Intervention: UAE authorities won’t help you recover losses.

3.      Potential for Unfair Practices: Some offshore brokers may manipulate prices or delay withdrawals.

If you choose to trade with JustMarkets, be aware of these risks and never invest money you cannot afford to lose.

What Are UAE Alternatives to JustMarkets?

If you're looking for UAE-compliant brokers, consider:

·         ADSS (Abu Dhabi) – Fully licensed and regulated by the SCA

·         Saxo Bank (UAE branch) – Licensed to operate in the UAE with global backing

·         eToro MENA – Offers services via a locally regulated entity

·         CMC Markets – Offers a strong reputation and compliance with international laws

These brokers offer more legal protection, better customer support, and safer fund handling.

Final Verdict: Is JustMarkets Legal in UAE?

Technically yes—but with clear limitations.JustMarkets is accessible in the UAE, and individuals can open accounts and trade. However, it is not officially licensed by the UAE SCA, meaning:

·         It is not legally authorized to market to UAE residents

·         UAE regulatory protection does not apply

·         Disputes must be handled internationally, under Seychelles law

If you're an experienced trader aware of the risks, JustMarkets could offer useful features and competitive trading conditions. But if safety, legal security, and local compliance are priorities for you, it’s better to choose an SCA-regulated broker.

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Read more:

• JustMarkets Review UAE

• Is JustMarkets a Regulated Broker?