6 minute read
Is JustMarkets Regulated in Singapore? A Clear Answer for Traders
from JustMarkets
by Exness_India
If you're considering trading with JustMarkets and wondering, "Is JustMarkets regulated in Singapore?", the direct and honest answer is No, JustMarkets is not regulated in Singapore by the Monetary Authority of Singapore (MAS), which is the official regulatory body overseeing financial services in the country.
This matters significantly for any trader based in Singapore—or any trader who values security and compliance—because regulation determines the level of legal protection, transparency, and accountability a broker must adhere to.
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What Does It Mean to Be Regulated in Singapore?
To understand the implications of JustMarkets not being regulated in Singapore, it's important to first understand what Singaporean regulation entails.
The Monetary Authority of Singapore (MAS) is one of the most respected financial regulators globally. A broker regulated by MAS must meet stringent criteria in areas such as:
Capital adequacy
Client fund segregation
Transparent pricing
Fair dealing guidelines
Audit and reporting obligations
Brokers licensed by MAS must hold a Capital Markets Services (CMS) license, which allows them to operate legally in the country. They are also listed on MAS’s Financial Institutions Directory, which is publicly accessible.
At the time of writing, JustMarkets does not hold a CMS license from MAS and is not listed in MAS's Financial Institutions Directory. This means the company is not legally authorized to provide capital markets services to retail investors in Singapore.
Who Regulates JustMarkets?
Although JustMarkets is not regulated in Singapore, it is registered and regulated under offshore jurisdictions. According to publicly available information on the company’s website:
JustMarkets is a brand of Just Global Markets Ltd.
The company is regulated by the Financial Services Authority (FSA) of Seychelles, under license number SD088.
The FSA of Seychelles is an offshore regulator. While it does provide some oversight, it does not enforce the same strict standards as regulators in tier-1 jurisdictions like Singapore, the UK, or Australia.
What this means in practical terms is that while JustMarkets is not an unregulated broker, its level of regulatory oversight is less stringent compared to MAS-regulated brokers.
Can Singapore Residents Legally Trade with JustMarkets?
Technically, Singapore residents can access the JustMarkets platform, and the broker does accept clients from various regions, including Asia.
However, this does not mean the broker is licensed to solicit or operate in Singapore. Trading with a non-MAS-regulated broker means:
You are not protected under Singaporean investor laws
There is no MAS oversight in case of disputes
Your funds are not held under MAS-governed client fund rules
In other words, you trade at your own risk.
MAS has issued warnings in the past against overseas brokers soliciting Singapore residents without authorization. If a broker is not regulated locally but actively markets its services in Singapore, it could be breaching MAS regulations.
So while you might not be breaking any laws personally by using JustMarkets, the company itself is operating in a legal grey zone if it markets directly to Singaporean clients without a CMS license.
What Are the Risks of Using an Unregulated Broker in Singapore?
When a broker is not regulated by MAS—or any tier-1 regulatory body—the risks include:
1. Lack of Legal Recourse
If a dispute arises with JustMarkets and you're a Singapore-based trader, you cannot seek help from MAS, nor are you covered by Singapore's financial protection frameworks.
2. Lower Fund Security
MAS-regulated brokers must keep client funds in segregated accounts and undergo regular audits. With offshore brokers, there is no guarantee that client funds are protected or insured.
3. Weaker Oversight
FSA Seychelles does not require the same capital reserves, transparency, or compliance systems as MAS. This opens the door to potential operational issues or even unethical practices.
4. Withdrawals and Trading Conditions
There have been online user complaints about withdrawal delays, slippage, and opaque fees with some offshore brokers. While not all unregulated brokers are bad actors, the risks are higher.
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Should Singapore Traders Use JustMarkets?
This comes down to your risk appetite and understanding of offshore brokerages.
Pros of Using JustMarkets:
Low minimum deposit
High leverage (up to 1:3000)
Access to a wide range of forex and CFD instruments
Multiple account types and trading platforms (MT4 and MT5)
Cons:
Not regulated in Singapore
No local customer support or dispute resolution
Lower investor protection
High leverage may increase losses for inexperienced traders
If you're a beginner trader or someone who values security and transparency, it's better to consider a MAS-regulated broker. These brokers offer more robust consumer protections, stronger compliance mechanisms, and a legal pathway in case of misconduct.
What Alternatives Are Regulated in Singapore?
There are several brokers fully licensed and regulated by the Monetary Authority of Singapore. Examples include:
IG Markets Singapore
Saxo Markets
CMC Markets
Phillip Futures
These brokers offer:
MAS regulation and legal protections
Segregated accounts under Singaporean banks
Transparent pricing and fee disclosures
Local customer service and dispute resolution channels
While the leverage may be lower and the trading conditions may seem stricter, you gain peace of mind and legal safeguards that are worth the tradeoff.
Is JustMarkets a Scam?
No, JustMarkets is not a scam, and there is no public evidence suggesting fraudulent activity. It is a real, operating forex and CFD broker regulated in Seychelles.
However, being legitimate doesn’t make it fully trustworthy for Singapore-based traders, particularly because it operates outside the purview of MAS.
JustMarkets may serve clients globally, but Singaporean investors should tread carefully and be aware of the limitations and potential consequences of using a broker that lacks domestic regulatory approval.
Final Verdict: Is JustMarkets Safe for Singapore Traders?
To summarize:
JustMarkets is not regulated by the Monetary Authority of Singapore (MAS).
It is regulated offshore by the FSA Seychelles, a tier-3 financial regulator.
Singapore traders can access the platform, but do so without MAS protection or oversight.
This increases risks in terms of fund security, legal recourse, and operational transparency.
If regulation, investor protection, and peace of mind are priorities, JustMarkets is not the ideal choice for Singapore-based traders.
Instead, look for MAS-regulated brokers or global brokers with stronger licenses (such as FCA, ASIC, or CySEC) that operate transparently and legally within Singapore’s framework.
Final Thoughts
In the world of forex and CFD trading, regulation isn’t just a formality—it’s a critical safety net. Whether you’re trading part-time or professionally, where your broker is licensed can make all the difference when something goes wrong.
So before you register, deposit funds, or start trading with JustMarkets—or any broker—ask yourself whether you’re willing to trade without local protection or legal recourse. If the answer is no, you already know the right choice.
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