Social Media is abuzz with the latest news that the FSCA has provisionally cancelled the FSP license of JPMarkets.
It seems like many clients have complained about not getting their withdrawals. Enough of them to actually get the regulator to take this drastic action.
As part of this suspension, JPMarkets are unable to sign up new clients and this leaves us IBs in a bit of a quandary as to where to suggest new traders open up accounts.
Alternative Brokers for IBs
My first choice; for best service and trading conditions is BlackStone Futures. I keep being impressed by this broker, they just keep going on with no issues and giving excellent service to clients. And which other broker will give YOU money to trade with. Interested?
My second; for reasons of their network business opportunity is QuickTrade. They don’t pay nearly as much as their others do (to IBs). Serious IBs with a large book will be looking elsewhere but those new to the industry or to this line of work and those with a large network or like me want to grow a passive income will jump at. Their account support is also superior.
My third; because good things always come in threes is Khwezi Trade. Another solid broker that just delivers without huge controversy.