Open a JustMarkets Account

Opening a trading account with JustMarkets is a straightforward process, but the details matter. This page walks you through the registration steps, the documents you need, and what happens after you hit submit. It also breaks down the real costs, because that is where the fine print usually lives.

Trading forex and CFDs is legal and regulated in South Africa. The conduct regulator is the Financial Sector Conduct Authority (FSCA). Any broker serving South African retail clients must be an authorised Financial Services Provider (FSP). If a broker acts as a market-maker, it also needs an OTC Derivative Provider (ODP) authorisation. You should verify any broker's status on the free FSCA FSP register before you fund an account.

The Registration Process

The sign-up form for JustMarkets takes about five minutes to complete. You provide an email address, create a password, and select your account type. The system then asks for your personal details: full name, date of birth, and country of residence. After that, you choose your base currency and leverage.

Most of the time is not spent on the form itself, but on the verification step that follows. You will need to upload documents for KYC (Know Your Customer) compliance. This is standard practice under South Africa's FICA legislation. The whole process, from form submission to a fully verified account, typically takes a few hours to one business day.

Choosing Your Account Type

JustMarkets offers four main account types: Standard, Cent, Pro, and Raw Spread. The Standard and Cent accounts have a minimum deposit of USD 10. The Pro and Raw Spread accounts require a minimum deposit of USD 100 to USD 200. The difference comes down to cost structure and position size.

A Cent account works like a standard account, but the contract size is smaller. This means you can risk less money while you are still learning. The Standard account is the default for most traders. The Pro and Raw Spread accounts are designed for traders who want tighter spreads and are willing to pay a commission for them.

Costs and Spreads: The Real Numbers

The cost to trade is your spread plus any commission. The spread is the difference between the buy price and the sell price. For the Standard account, the spread on NZD/USD starts from around 1.0 pip, and there is zero commission. For the Raw Spread account, the spread starts from 0.0 pips, but you pay a commission per lot.

A standard lot is 100,000 units of the base currency. On the Standard account with a 1.0 pip spread, the cost is about USD 10 per round turn. On the Raw Spread account, if the spread is 0.0 pips, you pay only the commission. If the commission is USD 3 per side, that is USD 6 total. The Raw Spread account is cheaper if you trade frequently with tight market conditions. The Standard account is simpler for a beginner.

There is a catch with the Standard account. The spread is quoted from 1.0 pip, but that is under ideal market conditions. During news events or low liquidity, the spread can widen significantly. This is normal for a spread-based account. A commission-based account like Raw Spread gives you a more predictable cost per trade.

Local Deposits and Withdrawals in ZAR

South African traders have convenient local payment options. The dominant method is Instant EFT through open-banking gateways like Ozow, Capitec Pay, and SiD. These deposits are usually instant and often free. You pay from your FNB, Absa, Standard Bank, Nedbank, or Capitec app.

Withdrawals via the same methods typically take 1-2 business days. Credit cards clear in 2-5 days, and international SWIFT wires take 3-5 days.

A key practical point: choose a broker with a ZAR base account. If your account base currency is USD and you fund with ZAR, your bank will convert the funds. That conversion typically costs 2-3%. It applies again when you withdraw. Over a year, that is a hidden cost that eats into your returns.

Regulation and Safety: What to Verify

Before you fund any broker, check the FSCA FSP register. The link is on the FSCA website. Confirm that the FSP number shown on the broker's website matches the register. This takes two minutes and it is the single most effective way to avoid an impostor firm.

The FSCA publishes public warnings against unauthorised firms. A significant list was issued in June 2025, with more alerts later that year about fake social-media groups and broker impersonation. These scams often promise guaranteed profits on social media or ask you to pay taxes or fees to withdraw your funds. The FSCA recorded roughly 1,247 forex-scam complaints in 2023, with about R547 million lost and only about 12% recovered.

What to Watch Out For

The main risks here are not about the broker's platform, but about the surrounding environment. First, high leverage. South Africa does not apply an ESMA-style cap on retail leverage. This means brokers, especially offshore entities, can offer leverage well above 1:500. High leverage magnifies both profits and losses.

Second, the tax situation. SARS taxes South African residents on worldwide income. Frequent or active forex trading is generally taxed as income at your marginal rate, which is between 18% and 45%. It is not treated as capital gains. Active traders should register for provisional tax and file the annual ITR12 return. You can deduct trading-related expenses. Tax rates and brackets change annually, so verify the current numbers with SARS or a tax professional.

Who Should Open This Account

JustMarkets suits new traders and cost-conscious traders who trade in high volume. The USD 10 minimum on Standard and Cent accounts is a low barrier to entry. The zero-commission structure on standard accounts is easy to understand.

This broker is less suitable for a trader who wants a stricter regulatory framework. If you are not comfortable with an unregulated or offshore entity, or if you prefer the forced safety measures of an FCA or CySEC regulated broker, look there first. The lack of a local FSCA license for the operating entity is something you should weigh in your decision.

Registration Steps: A Simple Checklist

• Go to the JustMarkets website and click the Sign Up button.
• Enter your email address and create a password.
• Select your account type (Standard, Cent, Pro, or Raw Spread).
• Set your base currency. Choose ZAR if you want to avoid conversion fees.
• Select your leverage. Lower leverage (1:100 or less) is a safer starting point.
• Complete the personal information form.
• Upload your ID document and proof of address for verification.
• Wait for the verification email and account approval.
• Log in, make your first deposit, and start trading.