6 minute read
Is JustMarkets Legal in Afghanistan? A Clear and Complete Answer
from JustMarkets
by Exness_India
Yes, JustMarkets is not officially licensed or regulated in Afghanistan, which means its legal status operates in a gray zone. While Afghan traders can technically access and use JustMarkets, the platform does not have authorization from the Da Afghanistan Bank (DAB) or any local regulatory body. This raises concerns about legal risks, fund security, and regulatory protection. Let’s dive deeper into what this means for Afghan traders.
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What Is JustMarkets?
JustMarkets is a global forex and CFD broker that offers access to various financial markets including:
· Currency pairs (Forex)
· Indices
· Commodities
· Cryptocurrencies
· Shares
It is operated by Just Global Markets Ltd, registered in Seychelles and regulated by the Financial Services Authority (FSA) of Seychelles. However, this regulation does not extend to Afghanistan, which means Afghan traders are not protected under any local investor safeguard mechanisms.
The Afghan Regulatory Environment
Afghanistan’s financial regulatory framework is overseen by the Da Afghanistan Bank (DAB), which functions as the country’s central bank and main regulatory body for monetary policy and financial institutions.
Here’s what matters:
· The DAB does not currently issue licenses for online forex brokers.
· It has not approved or endorsed JustMarkets or similar offshore platforms.
· There is no local regulatory infrastructure to monitor or protect Afghan citizens trading with such platforms.
In essence, any foreign broker operating in Afghanistan does so without regulatory oversight, which means Afghan traders assume all risks on their own.
Is It Legal to Trade Forex in Afghanistan?
This is where it gets complicated.
Forex trading is not officially banned in Afghanistan. In fact, with access to the internet and international payment systems (when available), Afghan citizens can:
· Open trading accounts on foreign platforms like JustMarkets.
· Deposit and withdraw funds through e-wallets or crypto.
· Trade CFDs, forex pairs, and more.
However, the absence of clear regulation means that:
· There is no legal protection in the event of fraud or disputes.
· Traders have no legal recourse through Afghan courts if a broker defaults or refuses withdrawals.
· All activity is technically outside the jurisdiction of Afghan authorities.
So while it’s not illegal in practice, it is also not formally legal or protected — a legally ambiguous state.
What Risks Do Afghan Traders Face on JustMarkets?
Using JustMarkets in Afghanistan carries several notable risks:
1. Regulatory Risk
JustMarkets is not licensed in Afghanistan. If the Afghan government later cracks down on foreign brokers, your account could be frozen or your access blocked.
2. Fund Security Risk
JustMarkets holds client funds under Seychelles’ financial rules, which are less strict than those of the EU, UK, or US. If JustMarkets collapses or shuts down, Afghan clients may have no chance of recovering their money.
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3. Payment Channel Instability
Due to ongoing sanctions, instability, and banking restrictions, funding and withdrawing from a JustMarkets account from Afghanistan can be unreliable or even impossible at times.
4. Lack of Dispute Resolution
If something goes wrong — from price manipulation to withdrawal denial — you have no local authority to complain to.
Why Do Some Afghan Traders Still Use JustMarkets?
Despite the risks, many Afghan traders still use platforms like JustMarkets due to:
· Lack of local brokers: Afghanistan has no fully functional domestic forex platforms.
· Low capital requirement: JustMarkets allows micro accounts with small deposits, making it appealing in a low-income economy.
· Mobile accessibility: Traders can trade using phones, avoiding formal banking.
· Crypto deposits: A way around the limitations of Afghanistan’s struggling banking sector.
It’s a combination of limited options, convenience, and hope for fast profit — despite the risks.
Does JustMarkets Accept Traders from Afghanistan?
Yes, JustMarkets does accept clients from Afghanistan, and its website is accessible from most Afghan IP addresses.
The account opening process is straightforward:
1. Sign up online
2. Verify ID (passport or national ID card)
3. Fund the account (via crypto or e-wallets)
4. Start trading
However, that doesn’t mean it’s authorized or legal — only that the company allows Afghan clients, possibly in violation of local regulations.
What About Islamic Accounts?
Yes, JustMarkets offers Islamic (swap-free) accounts, which is a key feature for Muslim-majority Afghanistan. These accounts avoid overnight interest, aligning with Shariah-compliant trading practices.
But while this makes the platform more culturally acceptable, it does not change the legality issue.
Can You Get in Trouble for Using JustMarkets in Afghanistan?
So far, there are no public cases of Afghan traders being punished for using JustMarkets or other offshore brokers. That said, you should be aware of:
· Unpredictable regulatory actions: Future governments or banking reforms might clamp down.
· Data privacy issues: Your financial data could be monitored, leaked, or misused.
· Tax and declaration obligations: Profits may be subject to taxation or scrutiny.
You are effectively on your own. So caution is key.
Alternatives to JustMarkets in Afghanistan
If you are looking for safer or more compliant alternatives, consider:
· Demo accounts: Practice on JustMarkets or other platforms without using real money.
· Locally focused education: Learn trading before risking capital on unregulated brokers.
· Platforms with tighter regulation: Some brokers in the EU or UK accept Afghan traders and are heavily regulated, though often harder to fund from within Afghanistan.
· Crypto exchanges: Some Afghan traders switch to platforms like Binance or Bybit, which offer crypto trading with fewer legal and payment restrictions.
Still, all these options share a common trait: they operate outside of Afghan law and lack formal protection.
Final Verdict: Should You Use JustMarkets in Afghanistan?
If you’re wondering whether you should use JustMarkets in Afghanistan, here’s a balanced answer:
· Yes, you can use it, and many already do.
· But no, it’s not officially legal — just not currently restricted.
· There’s no license, no regulation, and no safety net.
· You are assuming all legal and financial risks as an individual.
If you decide to trade on JustMarkets anyway, do it cautiously:
· Start small
· Withdraw profits often
· Avoid high leverage
· Stay informed about any changes in local regulations
· Keep all documents and transactions well-documented
In Conclusion
JustMarkets is not officially legal in Afghanistan, but Afghan traders can still access and use it due to a lack of enforcement and internet access. However, it is important to understand that using such platforms means accepting zero legal protection, financial risk, and regulatory uncertainty.
For now, Afghan traders operate in a shadow zone — free to trade, but with no net if they fall.
If you choose to enter the world of forex through JustMarkets while in Afghanistan, educate yourself, trade responsibly, and always be aware that you are trading without a safety belt.
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