11 minute read
Exness vs Justmarkets Compared: Which is better?
from EXNESS INDIA
In the dynamic world of forex trading, selecting the right broker can make or break your trading journey. With countless options available, two names often stand out: Exness vs JustMarkets. Both brokers have carved a niche in the industry, attracting traders globally with their competitive offerings. But which one is truly better? In this comprehensive comparison, we’ll dive deep into the features, strengths, and weaknesses of Exness and JustMarkets to help you decide which broker aligns best with your trading goals.
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Whether you’re a beginner stepping into forex or an experienced trader seeking advanced tools, this guide will break down everything you need to know about Exness vs JustMarkets. From regulatory frameworks to trading costs, platforms, and customer support, we’ll leave no stone unturned. Let’s get started!
Introduction to Exness and JustMarkets
Before diving into the nitty-gritty, let’s introduce the contenders.
What is Exness?
Founded in 2008, Exness is a globally recognized forex and CFD broker headquartered in Cyprus. Over the years, it has built a reputation for transparency, lightning-fast execution, and low trading costs. Exness caters to a wide range of traders, offering access to forex, commodities, stocks, indices, and cryptocurrencies. With multiple regulatory licenses and a client base spanning over 190 countries, Exness is a heavyweight in the trading world.
What is JustMarkets?
JustMarkets, formerly known as JustForex, entered the scene in 2012. Based in Saint Vincent and the Grenadines, this broker focuses on accessibility and user-friendly trading conditions. JustMarkets appeals to both novice and seasoned traders by offering a variety of account types, competitive spreads, and a diverse range of tradable assets. While younger than Exness, JustMarkets has quickly gained traction for its cost-effective solutions and educational resources.
Both brokers aim to empower traders, but their approaches differ. Let’s explore how they stack up across key categories.
Regulation and Security: Which Broker is Safer?
Safety is paramount when choosing a forex broker. Your funds and personal data need to be in trusted hands. Let’s examine the regulatory frameworks of Exness vs JustMarkets.
Exness Regulation
Exness operates under a robust multi-regulatory framework, which enhances its credibility. It is regulated by:
CySEC (Cyprus Securities and Exchange Commission): A top-tier regulator in the EU, ensuring strict compliance with financial standards.
FCA (Financial Conduct Authority): The UK’s renowned authority, known for its rigorous oversight.
FSA (Financial Services Authority, Seychelles): A lighter regulatory body for its offshore operations.
FSCA (Financial Sector Conduct Authority, South Africa): Adds credibility in the African market.
CMA (Capital Markets Authority, Kenya): Expands its regulated presence in East Africa.
This multi-jurisdictional oversight means Exness adheres to high standards of transparency, client fund segregation, and investor protection. Traders can feel confident knowing their money is secure with negative balance protection and advanced encryption technologies.
JustMarkets Regulation
JustMarkets takes a different approach, with its primary operations regulated by:
FSA (Financial Services Authority, Seychelles): An offshore regulator with less stringent rules compared to CySEC or FCA.
VFSC (Vanuatu Financial Services Commission): Another offshore entity offering flexibility but lower oversight.
CySEC: JustMarkets recently added a CySEC-regulated branch, boosting its credibility for EU clients.
While JustMarkets has made strides with its CySEC license, its primary operations under offshore regulators may raise concerns for traders prioritizing top-tier regulation. That said, it implements robust security measures like SSL encryption and segregated accounts to protect client funds.
Verdict: Regulation and Security
Exness takes the lead here. Its extensive regulation by top-tier authorities like CySEC and FCA provides a stronger safety net compared to JustMarkets’ predominantly offshore oversight. If security is your top priority, Exness is the safer bet.
Account Types: Flexibility for Every Trader
A broker’s account offerings determine how well it caters to different trading styles. Let’s compare the account types of Exness and JustMarkets.
Exness Account Types
Exness offers five main account types, designed for beginners and professionals alike:
Standard Account: Ideal for novices, with no commissions and spreads starting at 0.3 pips.
Standard Cent Account: Perfect for testing strategies with micro-lots, featuring low risk and fixed spreads.
Pro Account: Geared toward experienced traders, offering tighter spreads (from 0.1 pips) and a small commission.
Raw Spread Account: For advanced traders, with spreads from 0.0 pips and a fixed commission of $3.50 per lot per side.
Zero Account: Ultra-low spreads (from 0.0 pips) on select instruments, with commissions varying by asset.
Exness also provides Islamic (swap-free) accounts for traders adhering to Sharia law, adding to its inclusivity.
JustMarkets Account Types
JustMarkets offers four primary account types, each tailored to specific needs:
Standard Account: Beginner-friendly, with spreads from 0.3 pips and no commissions.
Pro Account: Designed for seasoned traders, featuring spreads from 0.1 pips and no commissions on most trades.
Raw Spread Account: Offers raw spreads from 0.0 pips with a $3 commission per lot per side.
Standard Cent Account: A low-risk option for newbies, with cent-based trading and spreads from 0.3 pips.
Like Exness, JustMarkets provides Islamic accounts with no swap fees, catering to a diverse audience.
Verdict: Account Types
Both brokers offer versatile account options, but Exness edges out with its Zero Account, which provides ultra-competitive conditions for high-volume traders. JustMarkets, however, shines with its simplicity and affordability, especially for beginners. Your choice depends on your experience level and trading volume.
Trading Platforms: Tools for Success
The trading platform is your gateway to the markets. Let’s see how Exness vs JustMarkets compare in this area.
Exness Trading Platforms
Exness supports a variety of platforms to suit different preferences:
MetaTrader 4 (MT4): The industry standard, known for its reliability and extensive tools.
MetaTrader 5 (MT5): An advanced version with more features, including additional timeframes and order types.
Exness Terminal: A proprietary web-based platform offering a sleek, user-friendly experience.
Mobile Apps: Fully functional MT4/MT5 apps for iOS and Android, plus the Exness Trade app for on-the-go trading.
Exness’ proprietary terminal is a standout, providing a seamless alternative to MetaTrader with fast execution and intuitive design.
JustMarkets Trading Platforms
JustMarkets keeps it straightforward with:
MetaTrader 4 (MT4): A robust platform with a wide range of indicators and EAs.
MetaTrader 5 (MT5): Enhanced features for advanced traders.
Mobile Apps: MT4 and MT5 apps for iOS and Android, ensuring accessibility.
While JustMarkets lacks a proprietary platform, its focus on MetaTrader ensures compatibility with most trading strategies, including scalping and automated trading.
Verdict: Trading Platforms
Exness wins with its broader platform selection, especially the Exness Terminal, which adds flexibility for traders who prefer a custom interface. JustMarkets holds its own with MT4 and MT5, but it doesn’t match Exness’ innovation in this category.
Trading Costs: Spreads, Commissions, and Fees
Cost is a critical factor in forex trading. Let’s break down the spreads, commissions, and other fees for Exness and JustMarkets.
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Exness Trading Costs
Spreads: Vary by account type. Standard accounts start at 0.3 pips, Pro at 0.1 pips, and Raw Spread/Zero accounts at 0.0 pips.
Commissions: No commissions on Standard and Standard Cent accounts. Raw Spread accounts charge $3.50 per lot per side, while Zero accounts range from $0.05 to $3.50 depending on the instrument.
Other Fees: No inactivity fees. Deposits are free, but withdrawals may incur small fees based on the payment method.
Exness is known for its tight spreads and transparent fee structure, making it cost-effective for high-frequency traders.
JustMarkets Trading Costs
Spreads: Start at 0.3 pips for Standard accounts, 0.1 pips for Pro accounts, and 0.0 pips for Raw Spread accounts.
Commissions: No commissions on Standard and Pro accounts. Raw Spread accounts charge $3 per lot per side.
Other Fees: No inactivity fees or deposit charges. Withdrawals are typically free, though some payment methods may incur minor costs.
JustMarkets competes closely with Exness, offering low-cost trading conditions that appeal to budget-conscious traders.
Verdict: Trading Costs
It’s a close call, but Exness slightly outperforms with its Zero Account, offering some of the tightest spreads in the industry. JustMarkets is a strong contender for traders seeking low fees without commissions on Standard and Pro accounts. Active traders may prefer Exness, while cost-sensitive beginners might lean toward JustMarkets.
Tradable Instruments: Variety is Key
A diverse range of instruments allows traders to explore multiple markets. Let’s compare the offerings.
Exness Tradable Instruments
Exness provides access to:
Forex: Over 100 currency pairs, including majors, minors, and exotics.
Commodities: Gold, silver, oil, and more.
Stocks and Indices: CFDs on global stocks and major indices.
Cryptocurrencies: 34+ crypto pairs, including BTC/USD and ETH/USD.
This extensive selection makes Exness ideal for traders looking to diversify their portfolios.
JustMarkets Tradable Instruments
JustMarkets offers:
Forex: 65+ currency pairs, covering majors and minors.
Commodities: Gold, silver, and oil.
Indices: Popular global indices like S&P 500 and FTSE 100.
Cryptocurrencies: 14 crypto pairs, such as BTC/USD and LTC/USD.
While JustMarkets provides a solid range, it falls short of Exness in terms of volume and variety.
Verdict: Tradable Instruments
Exness takes the crown with its broader selection, especially in forex pairs and cryptocurrencies. JustMarkets is sufficient for most traders but lacks the depth Exness offers.
Leverage: Amplifying Your Trades
Leverage can boost profits but also increases risk. Here’s how the two brokers compare.
Exness Leverage
Exness offers some of the highest leverage in the industry:
Up to 1:Unlimited for eligible clients (based on equity and experience).
Standard leverage ranges from 1:2000 to 1:30, depending on the region and asset.
This flexibility is a major draw for aggressive traders, though beginners should exercise caution.
JustMarkets Leverage
JustMarkets also provides competitive leverage:
Up to 1:3000 for certain accounts and regions.
Standard leverage varies from 1:500 to 1:30, depending on the asset and regulatory jurisdiction.
JustMarkets’ high leverage is attractive, especially for small-account traders looking to maximize returns.
Verdict: Leverage
JustMarkets edges out slightly with its 1:3000 maximum, but Exness’ 1:Unlimited option is unbeatable for qualified traders. Both brokers cater well to risk-takers, so it’s a tie based on your trading style.
Customer Support: Who’s There When You Need Them?
Reliable support can save the day during trading hiccups. Let’s evaluate their services.
Exness Customer Support
Availability: 24/7 via live chat, email, and phone.
Languages: Supports over 15 languages, including English, Arabic, and Chinese.
Response Time: Known for quick, efficient responses.
Exness’ multilingual support and fast resolution times make it a favorite among global traders.
JustMarkets Customer Support
Availability: 24/7 through live chat, email, and phone.
Languages: Multiple languages, including English and Russian.
Response Time: Generally responsive, though slower during peak hours.
JustMarkets offers solid support but doesn’t match Exness’ speed and consistency.
Verdict: Customer Support
Exness wins with its superior responsiveness and broader language coverage, ensuring traders get help when they need it most.
Educational Resources: Empowering Traders
Education is vital, especially for beginners. Let’s see how these brokers support learning.
Exness Educational Resources
Exness provides:
Webinars: Regular sessions on trading strategies and market analysis.
Tutorials: Video guides for platform usage and forex basics.
Articles: In-depth content on technical analysis and risk management.
Demo Account: Practice trading risk-free.
Exness’ comprehensive resources cater to traders at all levels.
JustMarkets Educational Resources
JustMarkets offers:
Video Tutorials: Covers trading basics and platform features.
Articles: Insights on forex principles and strategies.
Economic Calendar: Keeps traders updated on market events.
Demo Account: A risk-free practice environment.
While valuable, JustMarkets’ resources are less extensive than Exness’.
Verdict: Educational Resources
Exness leads with its wider range and depth of educational content, making it a better choice for traders seeking to grow their skills.
Deposits and Withdrawals: Ease of Funding
Smooth transactions are essential for a hassle-free experience. Here’s how they compare.
Exness Deposits and Withdrawals
Methods: Bank cards, e-wallets (Skrill, Neteller), crypto, and bank transfers.
Speed: Instant deposits; withdrawals processed within minutes to hours.
Fees: Deposits are free; withdrawals may have minor fees depending on the method.
Exness’ fast withdrawals are a standout feature, often completed in under an hour.
JustMarkets Deposits and Withdrawals
Methods: Cards, e-wallets (Perfect Money, Skrill), crypto, and local payment options.
Speed: Instant deposits; withdrawals typically within 1-2 business days.
Fees: Mostly free, though some methods may incur small charges.
JustMarkets is efficient but lags behind Exness in withdrawal speed.
Verdict: Deposits and Withdrawals
Exness excels with its lightning-fast withdrawals, giving it an edge over JustMarkets’ slower processing times.
Final Verdict: Exness vs JustMarkets – Which is Better?
After dissecting every aspect, here’s the breakdown:
Exness Strengths: Superior regulation, wider platform selection, extensive tradable instruments, ultra-low spreads (Zero Account), fast withdrawals, and robust customer support.
JustMarkets Strengths: High leverage (1:3000), affordable trading costs, beginner-friendly accounts, and solid educational resources.
Who Should Choose Exness?
Experienced traders seeking advanced tools, tight spreads, and top-tier regulation.
High-volume traders who benefit from the Zero and Raw Spread accounts.
Those prioritizing security and fast transaction processing.
Who Should Choose JustMarkets?
Beginners looking for low-risk options like the Standard Cent account.
Cost-conscious traders who prefer no-commission accounts.
Traders wanting high leverage to maximize small deposits.
The Winner?
It depends on your needs. Exness is the better all-rounder, excelling in regulation, platforms, and trading conditions, making it ideal for serious traders. JustMarkets shines for affordability and accessibility, appealing to newbies and budget traders.
Ultimately, test both brokers with demo accounts to see which fits your style. Your trading success hinges on choosing a broker that aligns with your goals—Exness and JustMarkets both offer compelling options.
Conclusion
Choosing between Exness vs JustMarkets isn’t a one-size-fits-all decision. Exness stands out for its reliability, advanced features, and global reach, while JustMarkets offers simplicity and cost savings. Weigh your priorities—be it security, costs, or leverage—and make an informed choice.
Have you tried either broker? Share your thoughts in the comments below! For more forex insights, follow us on Medium and stay ahead in your trading journey.
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