Janus Markets – Are They Safe?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Janus Markets - DO NOT TRADE WITH THIS PROVIDER
2.6/10
$100
Minimum Depositupdated 2020
Janus Markets has not given any information on the types of trading accounts it offers. We also do not get any information about its trading conditions on its website. We logged into its trading platform, and on that, we found out that the spreads offered by the broker range from 1.5 pips to 2.5 pips. We also found out that the maximum leverage offered by this broker is 1:200.
From its payments page, we found out that if you are making deposits using Bitcoin, then the minimum deposit requirement is $50 (with added surcharges), but if you do a wire transfer, then the minimum deposit is between $200 and $250. We do not know how much is the minimum deposit requirement if you use other payment methods.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: www.janusmarkets.com
Founded: 2018
Regulations: Not Regulated
Languages: English, All Google Translate Languages
Deposit Methods: Visa, MasterCard, Wire Transfer, Bitcoin
Minimum Deposit: $50 (Bitcoin payments), $200 – $250 (Wire Transfer)
Free Demo Account: No
Number of Assets: 200+
Types of Assets: Foreign Currencies, Cryptocurrencies, Stocks, Indices, Commodities
Trading Accounts and Conditions
Janus Markets has not given any information on the types of trading accounts it offers. We also do not get any information about its trading conditions on its website. We logged into its trading platform, and on that, we found out that the spreads offered by the broker range from 1.5 pips to 2.5 pips. We also found out that the maximum leverage offered by this broker is 1:200.
From its payments page, we found out that if you are making deposits using Bitcoin, then the minimum deposit requirement is $50 (with added surcharges), but if you do a wire transfer, then the minimum deposit is between $200 and $250. We do not know how much is the minimum deposit requirement if you use other payment methods.
Janus Markets – Advantages
The only good thing about this broker is that it offers its customers the use of the MetaTrader 5 platform. The MT5 platform is the latest offering from MetaQuotes, the company that built the MT4 platform. The MT5 platform, like its predecessor, has a great interface and wonderful features.
With the MT5 platform, traders can carry out automatic trades. They can also use the numerous charting and market analysis tools to enhance their trading experience.
Janus Markets also has created a copy trading platform called JM Social, which it has fully integrated into the MT5 platform. This is a great tool for novice traders who don’t have in-depth knowledge about the markets. It’s a social tool that allows traders to select a Manager (pro traders) and learn from their experiences.
Janus Markets – Disadvantages
Despite the availability of a great trading platform and the integration of a social trading interface, we would still not recommend this broker to our readers. Here are the reasons why.
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Unregulated Broker
Janus Markets claims to be owned and operated by Market Financials Limited. This company is registered in the Seychelles, and the broker claims to be regulated by the Financial Services Authority (FSA) of the country. It provides its registration number (8413711-1) and license number (SD006). The broker continues with the claim that it is governed by the Seychelles’ Consolidated Securities Act, 2007 – 2018.
Such a detailed claim makes this broker sound legit. That is, until you realize that the Seychelles’ FCA has clearly stated on its website that it does not offer any regulatory oversight for forex brokers!
Furthermore, this is the exact same information that is used on another broker’s website. XBPrime, another scam broker, shows that it is owned and operated by the same company, and displays the same license and registration numbers!
Janus Markets has also listed another company – Eveliktos Fund – as its liquidity provider. We know nothing about this company except for the fact that it too is an offshore entity, registered in the Cayman Islands.
With no other regulatory information provided by the broker, we can only conclude that Janus Markets is actually unregulated, and that it has lied about its regulatory status in a bid to attract more customers.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Conflicting Information on Payment Methods
On their homepage, Janus Markets has displayed numerous payment providers’ logos – major credit and debit cards, wire transfers, cryptocurrencies and so on. However, when you enter the trading area, you can only transfer funds via MasterCard, Visa, Bank Wire and Bitcoin.
The strangest part about the payments information is the minimum deposit requirement. As we already mentioned, for Bitcoin transfers, the minimum deposit is just $50 (but you will have to pay a deposit fee of $6), and between $200 and $250 for wire transfers. What you need to deposit if you use a bank card is unknown.
It almost seems that this broker wants traders to use Bitcoin as a payment method. Which makes it even more apparent that this broker isn’t quite trustworthy. Bitcoin transactions are permanent. There is no way you can get your money back from such a transaction.
With regard to withdrawal fees, all the broker says is that it will charge a certain amount, but once again, they refuse to specify what that amount is. It goes on to say that the withdrawal fees will depend on the payment method used by the trader.
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Unfair Trading Volume Requirements for Bonuses
Janus Markets offers its customers bonuses, which is another red flag that warns of this broker’s ill intentions. This is because these bonuses come with very unfair terms and conditions.
If you wish to withdraw your funds after accepting the bonus, you have to first trade a minimum volume of $10,000 for every bonus dollar you have accepted. So, if you accepted a trading bonus of $100, then you will have to meet a trading volume of $1 million before you are allowed to withdraw your funds.
With such a high target, the chances of you ever getting your so-called bonus are negligible. And if you try to make a withdrawal without meeting this condition, you will forfeit the full bonus amount and the profits you have made trading on that amount.
Conclusion
Janus Markets’ website has very little information on key features that make brokers attractive – account types, trading conditions and payment options. Furthermore, this broker has clearly faked its regulatory status. It also has some really unfair conditions that are extremely disadvantageous for traders.
All in all, Janus Markets is not a broker that can be trusted, and in fact, it looks more like a scam operation that is out to get your money. We would strongly recommend to all traders that they should stay away from this broker.
Janus Markets
Pros
- MetaTrader 5 Platform Available
Cons
- Unregulated Broker
- Conflicting Information on Payment Methods
- Unfair Trading Volume Requirements for Bonuses
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
eToro is a multi-asset platform which offers CFD and non CFD products. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.