6 minute read
Is JustMarkets Legal in Sri Lanka? A Clear and In-Depth Guide (2025)
from JustMarkets
by Exness_India
Yes, as of now, JustMarkets is not regulated by Sri Lankan authorities and does not hold a license from the Central Bank of Sri Lanka or the Securities and Exchange Commission of Sri Lanka (SEC SL). However, Sri Lankan residents can legally access and use the platform at their own discretion, as there is currently no law that explicitly bans trading with offshore brokers like JustMarkets. That said, there are important considerations for traders to understand before using the platform in Sri Lanka.
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Understanding the Legal Status of JustMarkets in Sri Lanka
To assess whether a forex broker is legal in any country, we need to evaluate two main factors:
1. Whether the broker is licensed or regulated by the local financial authority.
2. Whether the local laws restrict or allow access to offshore financial platforms.
In Sri Lanka, financial market oversight is primarily handled by:
· The Central Bank of Sri Lanka (CBSL) for monetary and banking regulations.
· The Securities and Exchange Commission of Sri Lanka (SEC SL) for capital markets, securities, and investment platforms.
As of mid-2025, JustMarkets does not appear on the list of brokers or investment firms licensed by the SEC SL. It is not supervised by CBSL either. Therefore, JustMarkets is not a domestically authorized forex broker in Sri Lanka.
Despite this, Sri Lankan residents are not prohibited from accessing offshore trading platforms, and JustMarkets is accessible via the internet without the use of a VPN or special access tools. This makes the platform legally accessible but unregulated locally.
Is It Safe to Use JustMarkets from Sri Lanka?
JustMarkets operates as an international broker and is regulated by the Financial Services Authority (FSA) of Seychelles, which is an offshore jurisdiction. While this regulation provides some oversight, it does not offer the same level of investor protection as regulators like the FCA (UK), ASIC (Australia), or CySEC (Cyprus).
From a practical standpoint, many Sri Lankan traders use offshore brokers such as JustMarkets because:
· Local brokers offering forex or CFDs are limited.
· Offshore brokers offer more flexible trading conditions, higher leverage, and competitive spreads.
· There are no direct restrictions from Sri Lankan regulators on accessing these services.
However, it's important to remember that using an unregulated or offshore-regulated broker increases financial risk, particularly in cases of:
· Withdrawal disputes.
· Broker insolvency.
· Platform manipulation or unethical behavior.
Since JustMarkets is not under the jurisdiction of Sri Lankan courts or regulators, you may have limited legal recourse in the event of a dispute or issue.
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How Does JustMarkets Work for Sri Lankan Users?
JustMarkets offers various account types, including Standard, Pro, Raw Spread, and Cent accounts, which are all accessible to users in Sri Lanka. The platform supports:
· MetaTrader 4 and MetaTrader 5.
· Over 170 trading instruments including forex pairs, indices, metals, and cryptocurrencies.
· High leverage up to 1:3000 (depending on the account type and jurisdiction).
· Multilingual support and a relatively easy verification process.
Sri Lankan residents can fund their accounts through international payment methods such as:
· Skrill
· Neteller
· VISA/Mastercard
· Bank transfers
· Cryptocurrency wallets
While these methods are available, local deposit/withdrawal methods such as LKR bank transfers or e-wallets tailored for Sri Lanka are not officially supported by JustMarkets, which could cause inconvenience or higher conversion costs.
Tax and Regulatory Risks in Sri Lanka
Trading profits made on platforms like JustMarkets may be subject to income tax or capital gains tax under Sri Lankan law, though this area remains largely unregulated and not strictly enforced.
The government of Sri Lanka has not implemented any strong measures to control forex trading by individuals, but they do keep an eye on foreign currency transactions and unauthorized capital outflows.
Therefore, if a trader is moving large sums of money in and out of offshore accounts, it could potentially attract attention from financial institutions or regulators. It is recommended to:
· Keep clear transaction records.
· Report profits honestly if required by tax laws.
· Stay informed about changes in forex or crypto regulations in Sri Lanka.
What Are the Risks of Trading on JustMarkets from Sri Lanka?
While trading on JustMarkets is technically legal, there are several risks to consider:
1. Lack of Investor Protection
If JustMarkets shuts down or blocks your account, you will not be protected by Sri Lankan law, and filing a complaint through offshore regulators may be difficult or ineffective.
2. Regulatory Uncertainty
The government may change its stance on forex trading in the future, potentially restricting access to offshore brokers or implementing licensing requirements. If this happens, traders may suddenly lose access to their funds or accounts.
3. Withdrawal Issues
Some users have reported withdrawal delays or KYC issues with offshore brokers. It’s essential to verify your identity fully and read the terms before depositing large sums.
4. Limited Legal Recourse
If any disputes arise between you and the broker, you cannot seek help from the Sri Lankan courts or authorities, as JustMarkets is based offshore.
Why Do Sri Lankan Traders Use JustMarkets?
Despite the risks, JustMarkets remains popular in Sri Lanka for a few reasons:
· Low minimum deposits make it accessible to beginners.
· High leverage allows for small capital trades with high potential returns.
· Multilingual customer support, which helps non-English-speaking traders.
· Cryptocurrency deposit options, which appeal to the younger, tech-savvy demographic.
· Attractive affiliate and IB programs, which drive local marketing and social media buzz.
For many traders, the benefits outweigh the risks—but only if they understand the regulatory landscape and trade responsibly.
Final Verdict: Is JustMarkets Legal in Sri Lanka?
To summarize:
· JustMarkets is not licensed by the Sri Lankan SEC or CBSL.
· It is not illegal to use the platform, as Sri Lanka does not explicitly ban forex trading with offshore brokers.
· Sri Lankan users can access and trade on JustMarkets at their own risk, but without protection from local regulators.
· Proper risk management, due diligence, and financial responsibility are critical.
If you’re considering trading with JustMarkets from Sri Lanka, ensure you:
· Start with a small amount.
· Use demo accounts first.
· Withdraw early and test the process.
· Document every transaction.
· Stay up to date with local regulatory news.
While legal access exists, traders must understand that legality does not equal safety. Responsible trading and thorough research are essential when dealing with offshore brokers.
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