Juno Markets is a non-regulated forex and CFD broker which serves clients mainly from the Asia Pacific Region, but can always be used by South African traders as well.
This broker offers several unusual account types, the ability to copy trades from more successful investors and a massive 100% bonus upon your first deposit.
Before getting too excited though, read our full review of Juno Markets and our final verdict on the big question: is this broker really worth the money or is this just another big scam?
The 3 Account Types
Juno Markets offers South African traders three main account types to choose from, which are rather different than the usual choices, as well as a free demo account for risk-free trading. They also claim to give South African clients a 100% bonus upon their first deposit.
Warning: Before accepting any bonus from a broker, be careful and read the conditions attached. It is often nearly impossible to withdraw money after you have received a huge bonus like the one Juno Markets offers, so make sure you know what you are getting into.
Now, without further a due, take a look at all the account types offered below.
As the name suggests, Juno Markets offers certain accounts for South African institutions like corporate clients, brokers or other financial institutions. Such clients can either trade directly from the Juno Markets platform or by connecting via FIX API, where they receive direct ECN pricing.
The broker hardly offers any other information regarding these accounts, the exact trading conditions or even the deposit required. Instead, Juno Markets suggests South African institutions contact one of their Institutional Account Managers for further details.
The Juno Markets individual accounts are the common accounts we are used to seeing from most brokers, based on each user’s experience and deposit. They offer two different individual accounts for South African traders to choose from, which are outlined below.
STP Account –> $500 Minimum Deposit
- Maximum leverage: 400:1
- Spreads: 2 pips (FX) / 40 cents (Gold)
- No commission
ECN Account –> $5,000 Minimum Deposit
- Maximum leverage: 200:1
- Spreads: 0.2 pips (FX) / 40 cents (Gold)
As the name suggests, Juno Markets offers a third account type defined by external money managers that manage South African user’s funds. The broker claims that they only work with money managers that have significant experience in the FX markets and are constantly looking for new managers to work with.
Of course, it is important to note here that it is extremely risky to allow a third party to entirely manage your funds, no matter the experience they claim to have.
Finally, Juno Markets gives South African customers the chance to practice trading entirely risk-free through their free demo account. The Juno Markets demo account comes with $50,000 of virtual money to trade and 200:1 available leverage. The broker also gives you the ability to choose between STP or ECN spreads.
This is the perfect solution for complete beginners in trading that prefer to not invest any money before making a few test trades and seeing how the process works.
Trading Platform & Assets
Juno Markets offers South African investors the chance to trade CFDs in forex, stocks, commodities and indices through the infamous MetaTrader 4 (MT4) platform or the Juno Auto Trader.
Each platform is outlined below.
MetaTrader 4 (MT4)
The MT4 platform is considered one of the most popular forex trading platforms. Its uder-friendly interface, powerful features and great trading conditions have made it a favorite for South African traders as well.
In order to use the MT4 platform, you will need to download it onto your desktop or mobile device. It is available on Google Play, the App Store and through the Juno Markets website for direct access.
Juno Auto Trader (Copy Trading – Automated Trading)
The Juno Auto Trader account is an account made for trading newbies. It allows South African investors that don’t have the necessary experience to begin trading on their own, to simply copy the trades of more successful investors. This process is done automatically, by copying the trades of the investors you follow.
Warning: Copy trading in no way guarantees success. Experienced traders can make mistakes too, and you never want to be around if that mistake costs them thousands of dollars.
It is always advisable to learn and open the trades yourself, with the help of automated signals provided by the best online trading software.
South African traders can reach the Juno Markets customer support team through email, phone, WhatsApp or the live chat on their website. They also offer their address in Vanuatu.
Company Info & Payment Methods
Juno Markets is owned and operated by the company Juno Markets Limited and is located at Law Partners House, Kumul Highway, Port Vila, Vanuatu. The broker is registered with The Financial Commission.
Juno Markets accepts various payment methods such as:
- Credit card (Visa, Mastercard),
- International bank wire
- Instant online bank transfers
- Skrill, Neteller
- China UnionPay
- WeChat Pay, AliPay
Verdict: Is Juno Markets a Scam?
Our team carefully reviewed this broker and has come to the conclusion that Juno Markets is not a trustworthy company to invest in. They are not licensed or regulated under any proper regulatory agency, and offer huge bonuses that usually amount to no good.
Instead of wasting your time with companies you can never trust, trade directly with the best regulated brokers like IQ Option!
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