7 minute read
Is JustMarkets Legal in Bangladesh? Here’s What You Need to Know
from JustMarkets
by Exness_India
Short Answer: No, JustMarkets is not legally authorized to operate in Bangladesh. It is not licensed by the Bangladesh Securities and Exchange Commission (BSEC), the country’s official financial regulatory authority. While Bangladeshi residents can still access the JustMarkets platform online, doing so involves legal gray areas and potential risks. Now let’s explore the legal landscape in more detail — what the BSEC says, the risks of using unregulated brokers, and what safer alternatives are available for traders in Bangladesh.
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Understanding Forex Trading Regulations in Bangladesh
Bangladesh has strict regulations regarding foreign exchange trading. According to the Bangladesh Foreign Exchange Regulation Act of 1947 and the guidelines provided by the BSEC, only institutions approved by the central bank (Bangladesh Bank) and the BSEC are allowed to offer forex trading services in the country.
BSEC’s Official Position on Forex Trading
The Bangladesh Securities and Exchange Commission (BSEC) has publicly warned against trading through unregulated or offshore forex brokers. They consider such activities illegal and potentially harmful to investors.
In fact, in recent years, the BSEC has blacklisted several offshore brokers and has blocked access to many forex trading websites to prevent Bangladeshi citizens from engaging with unlicensed platforms.
If a broker is not licensed by the BSEC or operating under a local financial institution, it is considered unauthorized and illegal under Bangladeshi law — even if the website is accessible and functional.
Is JustMarkets Regulated in Bangladesh?
No, JustMarkets is not regulated in Bangladesh.
JustMarkets is a global forex and CFD broker registered in offshore jurisdictions such as Seychelles and St. Vincent and the Grenadines. While it may hold licenses from regulatory bodies in those countries, it does not have authorization from the BSEC or Bangladesh Bank to offer trading services in Bangladesh.
Why This Matters
Even if JustMarkets has international regulatory coverage, those licenses do not extend to Bangladesh unless the broker has taken explicit steps to register and gain approval locally — which JustMarkets has not done.
This means that:
· You are not protected under Bangladeshi law if there is a dispute.
· You may be violating local financial regulations by depositing money to trade.
· Your funds are not secured or insured by any local authority.
· The BSEC can take action to block access to the broker at any time.
Can Bangladeshi Traders Still Use JustMarkets?
Technically, yes — Bangladeshi residents can still register, deposit, and trade on JustMarkets, since the platform is accessible online. However, doing so comes with significant legal and financial risks.
Here's what you should know:
1. You Are Trading Outside the Legal System
Trading with an unlicensed broker in Bangladesh puts you outside the protections of national law. If you are scammed, your money disappears, or the platform shuts down, there is little to no legal recourse available to you.
2. Currency Transfer May Be Illegal
Bangladesh has strict capital controls. Sending Bangladeshi Taka abroad for investment purposes without approval from the central bank is generally prohibited. Funding a JustMarkets account could technically violate foreign exchange regulations, exposing you to legal penalties.
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3. BSEC May Block the Platform
JustMarkets, like many other unlicensed platforms, is at risk of being blocked by the BSEC. This has happened to several other forex brokers, leaving traders locked out of their accounts or forced to use VPNs.
What Are the Risks of Trading with JustMarkets from Bangladesh?
Using JustMarkets from Bangladesh involves several key risks:
✅ Legal Risk
As discussed, using unlicensed brokers in Bangladesh is illegal. Authorities can impose penalties or take legal action against users — especially if foreign currency transactions are involved.
✅ Financial Risk
JustMarkets operates from offshore jurisdictions with limited regulatory oversight. That means:
· There may be no investor compensation schemes.
· The company could shut down overnight without notice.
· Withdrawals may be delayed, denied, or manipulated.
You may find yourself with no way to recover your funds in case of disputes.
✅ Account Accessibility
If the BSEC or local ISPs block access to JustMarkets, you may lose access to your trading account or experience connectivity issues. Many traders have faced issues accessing other unlicensed platforms in Bangladesh.
✅ Lack of Transparency
Offshore brokers are not held to the same standards of transparency and financial reporting as licensed entities. They may operate with conflicts of interest, lack of audit accountability, or unfair trading conditions.
Why Do Traders Still Use JustMarkets in Bangladesh?
Despite the risks, many Bangladeshi traders continue to use JustMarkets and similar brokers. Here’s why:
1. Low Capital Requirements – You can open an account with as little as $5, which is attractive to new traders.
2. High Leverage Options – JustMarkets offers leverage as high as 1:3000, allowing traders to control large positions with minimal capital.
3. Bonus Offers – JustMarkets often runs promotions, including deposit bonuses, cashback, and demo contests.
4. Easy Registration – Opening an account is fast, requires minimal documentation, and supports online funding methods.
These benefits appeal to many retail traders — but they come at the cost of legal protection and long-term financial security.
Safer Alternatives for Bangladeshi Traders
If you want to trade forex legally and safely from Bangladesh, here are a few steps to follow:
✅ Use a Locally Licensed Platform
Check the BSEC website or contact the Bangladesh Bank for a list of approved brokers. While there are few regulated forex trading platforms in Bangladesh, using one ensures you are trading legally.
✅ Trade Derivatives Through Local Institutions
Some banks and financial institutions may offer limited derivative or currency trading services under BSEC supervision. These are safer and legally compliant options.
✅ Trade the Stock Market
Consider investing in the Dhaka Stock Exchange (DSE) or the Chittagong Stock Exchange (CSE). These markets are regulated by the BSEC and offer legal, transparent investment opportunities.
✅ International Brokers with Bangladeshi Partnerships
Some international brokers form partnerships with local financial firms to offer regulated services in Bangladesh. Always verify such claims through BSEC or Bangladesh Bank before depositing funds.
What to Do If You’ve Already Used JustMarkets
If you’re a Bangladeshi resident who has already deposited funds into JustMarkets, here’s what you can do:
1. Withdraw Your Funds – If possible, withdraw your capital immediately to avoid being caught in future restrictions or platform blocks.
2. Avoid Further Transactions – Do not deposit additional funds. Stop trading until you’ve found a legal and safer alternative.
3. Consult a Legal Advisor – If you have concerns about compliance or potential legal issues, it’s best to speak to a legal or financial advisor.
4. Monitor BSEC Warnings – Follow the BSEC website and local news for updates on blacklisted platforms and regulatory actions.
Final Verdict: Should You Use JustMarkets in Bangladesh?
Legally speaking, no — you should not use JustMarkets in Bangladesh. The broker is not licensed by the BSEC or any local authority and is therefore operating illegally in the country. While the platform may be accessible and functional, using it puts you at risk of:
· Violating local laws
· Losing access to your funds
· Having no legal protection
· Facing potential penalties for currency violations
If you’re serious about trading forex or CFDs, it’s essential to prioritize safety, legality, and regulation over convenience or short-term profits.
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