5 minute read
Is JustMarkets Legal in Philippines? A Comprehensive Review
from JustMarkets
by Exness_India
Yes, JustMarkets is not legally authorized to operate in the Philippines as it is not licensed by the Securities and Exchange Commission (SEC) or the Bangko Sentral ng Pilipinas (BSP). While Filipino traders can technically access the platform online, this does not mean the broker is legally permitted to offer its services in the country. The lack of local regulation presents serious legal and financial risks for Filipino investors.
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Understanding the Regulatory Environment in the Philippines
The Philippines maintains a strict regulatory framework for financial services, especially in the online trading and forex sectors. Two key authorities oversee financial operations:
1. Securities and Exchange Commission (SEC) – Regulates securities, investments, and corporate finance.
2. Bangko Sentral ng Pilipinas (BSP) – Regulates banks and non-bank financial institutions with quasi-banking functions.
For any forex broker to legally operate in the country, it must be registered and licensed by these agencies. As of now, JustMarkets does not appear on the list of registered entities under either regulator.
What Is JustMarkets and Why It’s Popular in the Philippines
JustMarkets is an international forex and CFD broker offering access to trading in currencies, commodities, indices, and cryptocurrencies. It is operated by Just Global Markets Ltd, which is registered in Seychelles and regulated by the Financial Services Authority (FSA) of Seychelles. However, this offshore regulation does not authorize it to operate in the Philippines.
Despite this, JustMarkets has gained attention among Filipino traders for several reasons:
· Low minimum deposit
· Leverage up to 1:3000
· MetaTrader 4 and 5 platforms
· Multi-asset offerings
· User-friendly interface
These attractive features often lure Filipino traders—especially beginners—into signing up, unaware of the legal grey area and potential dangers involved.
The Risks of Using an Unlicensed Broker in the Philippines
The absence of a local license puts Filipino traders in a vulnerable position. Here are the main risks:
1. Lack of Protection: If JustMarkets were to suddenly suspend operations, traders would have no legal recourse through Philippine courts or regulators. The offshore regulator, FSA Seychelles, provides minimal consumer protection compared to major regulators.
2. No Investor Compensation: Licensed brokers under jurisdictions like the UK (FCA) or Australia (ASIC) often offer compensation schemes. JustMarkets, regulated offshore, does not.
3. Legal Liability: Although Filipino users can access JustMarkets, promoting or operating such services without registration is illegal under SEC and BSP laws. This includes affiliates or IBs promoting JustMarkets in the country.
4. Funds at Risk: With no Philippine regulation, client funds are not segregated or insured under local financial standards. This increases the chances of delayed withdrawals, fund mismanagement, or outright scams.
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Has the SEC Philippines Issued a Warning About JustMarkets?
As of the time of writing, the Philippine SEC has not issued a specific advisory against JustMarkets, but that does not imply approval. The absence of a warning simply means it may not yet be on the SEC’s radar. However, the SEC has issued general warnings against dealing with unregistered foreign brokers, emphasizing that offering investment opportunities without proper licensing is prohibited.
Can You Still Trade on JustMarkets from the Philippines?
Yes, but at your own risk. Filipino traders can create accounts on JustMarkets, deposit funds, and execute trades. The platform is accessible online, and customer support is available in English and several languages. However, this access is purely technological, not legal.
That said, if disputes arise—such as blocked accounts, frozen funds, or manipulation of trades—you will have no support from Philippine authorities. You will be forced to deal with a foreign entity in a lightly regulated jurisdiction, making any resolution extremely difficult.
What Are Safer Alternatives for Filipino Traders?
If you're based in the Philippines and serious about trading, consider regulated brokers that either:
· Hold a local license with the SEC or BSP
· Are regulated by Tier-1 authorities such as the FCA (UK), ASIC (Australia), or CySEC (Europe)
Some internationally reputable brokers offer services to Filipino traders while maintaining strict compliance with global standards. These brokers typically:
· Segregate client funds
· Offer negative balance protection
· Provide dispute resolution processes
· Adhere to anti-money laundering (AML) and know-your-customer (KYC) policies
The Importance of Regulatory Oversight
Regulation ensures that brokers operate under transparent, secure, and fair conditions. With unregulated or offshore-regulated brokers like JustMarkets:
· There's no guarantee of ethical practices
· You are not protected from market manipulation
· Withdrawal delays or issues may never be resolved
Final Verdict: Is JustMarkets Legal in Philippines?
No, JustMarkets is not legally authorized to operate in the Philippines. It does not hold any license from the Philippine SEC or BSP. While you may be able to use the platform, doing so exposes you to a high level of risk, both legally and financially. The lack of regulation and oversight means you’re essentially on your own if something goes wrong.
If you are considering trading online, your best bet is to choose a broker that is either locally regulated or recognized by globally trusted financial authorities. Your capital, your data, and your future deserve the strongest protection possible.
✅ Trade with JustMarkets now: Open An Account or Visit Brokers 👈
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