6 minute read
Is JustMarkets Regulated in Pakistan? Review Broker
from JustMarkets
by Exness_India
Short Answer: No, JustMarkets is not regulated by any financial authority in Pakistan. While it may offer its services to Pakistani traders, it does not operate under the regulation or supervision of the Securities and Exchange Commission of Pakistan (SECP). If you're trading with JustMarkets from Pakistan, you're essentially using an offshore broker that is not officially recognized or monitored by your local government.
Now, let’s unpack what that means for you as a trader and why it matters.
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What Does It Mean When a Broker Is “Not Regulated in Pakistan”?
A regulated broker in Pakistan would be one that is authorized and overseen by the Securities and Exchange Commission of Pakistan (SECP). This regulatory body ensures that financial services operate within legal frameworks that protect the investor.
JustMarkets, formerly known as JustForex, is not licensed or registered with SECP. Instead, it operates under the Financial Services Authority (FSA) of Seychelles, a jurisdiction known for relatively relaxed regulatory requirements compared to Tier-1 regulatory bodies like the FCA (UK), CySEC (Cyprus), or ASIC (Australia).
What this means for Pakistani traders is simple:
You do not have local legal recourse if disputes arise.
Your funds are not protected under any Pakistani investor compensation schemes.
You are dealing with an offshore broker, which involves higher risks.
Who Regulates JustMarkets Globally?
JustMarkets is registered under:
Just Global Markets Ltd, which is regulated by the FSA Seychelles, under license number SD088.
The FSA Seychelles is considered an offshore regulator. It does offer some level of oversight, but not to the degree that major global regulatory bodies provide. It lacks the strict compliance frameworks, audit requirements, and investor protection mechanisms you’d find in jurisdictions like the US, UK, or EU.
So, if you’re asking, “Is JustMarkets a scam?” — the answer is no. It is a legitimate offshore broker, but it's not heavily regulated. That distinction is important.
Is It Legal to Trade with JustMarkets in Pakistan?
There is no explicit law in Pakistan that bans residents from trading with foreign brokers. However, the SECP has repeatedly warned investors about the risks of dealing with unregulated or offshore brokers. These warnings do not make it illegal to trade with such entities, but they serve as advisories against the risks.
So technically, you can open and maintain an account with JustMarkets if you’re in Pakistan, but:
You're doing so at your own risk.
You will have limited or no protection in the case of fraud or company insolvency.
Any disputes will need to be resolved under Seychelles law, not Pakistani law.
Does JustMarkets Offer Services to Pakistani Traders?
Yes. JustMarkets openly accepts clients from Pakistan. In fact, the broker is known for its strong presence in South Asia, including:
Localized customer support in Urdu
Deposit and withdrawal methods tailored to Pakistani users
Marketing campaigns aimed at Pakistani traders
Affiliate and IB programs targeting Pakistani financial influencers
JustMarkets has managed to build a significant client base in Pakistan despite not being locally regulated. This is largely due to:
Easy account opening
High leverage (up to 1:3000)
No strict KYC requirements
Attractive bonuses and promotions
These features are appealing, but they also raise red flags when it comes to compliance and investor safety.
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What Are the Risks of Trading with an Unregulated Broker in Pakistan?
While JustMarkets is not a scam and has been operational for years, trading with an unregulated or offshore-regulated broker comes with real risks:
1. Lack of Investor Protection
In the event of fraud, account freezing, or bankruptcy, you have no guaranteed compensation. SECP and Pakistani courts will likely not intervene in foreign cases.
2. No Transparent Oversight
FSA Seychelles does not enforce the same standards of transparency or reporting that top-tier regulators do. This can lead to:
Conflicts of interest
Delayed or rejected withdrawals
Slippage or price manipulation
3. No Local Legal Remedies
Any issues you encounter will need to be handled via Seychelles’ dispute mechanisms — a complex, expensive, and usually ineffective route for Pakistani residents.
4. Possibility of Account Termination
In politically or economically unstable regions, brokers may suspend operations without notice. Since you're not protected under local law, there's little you can do if your account is suddenly disabled.
Why Do Many Pakistani Traders Still Use JustMarkets?
Despite regulatory concerns, JustMarkets is still popular in Pakistan. Here’s why:
Low deposit requirement: You can start trading with as little as $1.
High leverage: Up to 1:3000 — attractive for small retail traders.
Flexible trading conditions: Variety of account types (Standard, Pro, Raw Spread).
Bonuses and promotions: Including deposit bonuses, demo contests, and referral rewards.
Islamic (Swap-Free) accounts: Essential for Muslim traders avoiding Riba (interest).
MT4/MT5 platforms: Reliable and widely used trading platforms.
Fast local deposits/withdrawals: Through Pakistani banks, JazzCash, and EasyPaisa.
These perks make JustMarkets appealing — especially to beginners who may not fully understand the long-term implications of using an offshore broker.
What Should Pakistani Traders Consider Before Choosing JustMarkets?
If you're considering trading with JustMarkets from Pakistan, keep these key points in mind:
1. Assess Your Risk Tolerance
If you're trading small amounts and just testing the waters, the risk might be acceptable. But if you're planning to deposit large sums, reconsider.
2. Explore Regulated Alternatives
There are globally regulated brokers (like IC Markets, Pepperstone, or FXTM) that also accept Pakistani clients. These brokers are regulated by tier-1 bodies and offer a safer trading environment.
3. Check Withdrawal Reviews
Before committing, review how fast and reliably the broker processes withdrawals in Pakistan. Delays or account suspensions are red flags.
4. Use Strong Risk Management
Given the high leverage and limited protection, always use stop-losses and never over-leverage your positions. Offshore brokers don’t always offer negative balance protection.
5. Keep Records
Document every deposit, withdrawal, and communication with the broker. If anything goes wrong, this is your only evidence for complaints or disputes.
Should You Trade with JustMarkets from Pakistan?
If your priority is regulatory safety and legal protection, then No, JustMarkets may not be the right choice for you.
If your priority is flexibility, easy access, and aggressive trading — and you fully understand the risks — then Yes, JustMarkets can be a viable option for small-scale or high-risk traders who are willing to trade off safety for convenience.
The decision comes down to how much risk you are willing to accept and whether the benefits justify the lack of oversight.
Conclusion
JustMarkets is not regulated in Pakistan. It operates as an offshore broker under the FSA of Seychelles. While it accepts Pakistani clients and provides localized services, it offers no legal safety net for Pakistani investors.
Trading with JustMarkets is legal, but risky — especially for those unaware of the implications of dealing with unregulated entities. If you’re a Pakistani trader, proceed with caution, do your due diligence, and consider regulated alternatives before depositing significant funds.
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