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The WikiFX Score of this broker is reduced because of too many complaints!

ForexMart

Saint Vincent and the Grenadines|5-10 years|
Retail Forex License|White label MT4|Regional Brokers|United Kingdom European Authorized Representative (EEA) Revoked|High potential risk|Offshore Regulated|

https://www.forexmart.com/

Website

Rating Index

MT4/5 Identification

MT4/5

White Label

ForexMart-DemoServer

Germany
MT4
7

Influence

C

Influence index NO.1

Malaysia 2.92
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

White Label

7
Server Name
ForexMart-DemoServer MT4
Server Location Germany

Influence

Influence

C

Influence index NO.1

Malaysia 2.92

Surpassed 20.90% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+44 2 030 976 697
support@forexmart.com
https://www.forexmart.com/
Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

Danger

MY SCM
2023-01-01

Contact number

English

+44 2 030 976 697

Broker Information

More

Company Name

Tradomart SV Ltd

Company Abbreviation

ForexMart

Platform registered country and region

Saint Vincent and the Grenadines

Company website
Twitter
Facebook
WhatsApp
  • 441303767210

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 4
Previous Detection : 2024-05-19
  • The number of the complaints received by WikiFX have reached 6 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • United KingdomFCA (license number: 728735) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!

WikiFX Verification

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Expose

    ForexMart · Company Summary

    ForexMart Basic Information
    Company Name ForexMart
    Founded 2015
    Headquarters Cyprus
    Regulations FCA, FSC, CYSEC(suspicious clone)
    Tradable Assets Forex, Shares, Indices, Spot Metals, Energy, Cryptocurrency
    Account Types Classic Account, Pro Account, Cents Account, Zero Spread Account
    Minimum Deposit $15
    Maximum Leverage 1:500
    Spreads From 0.0 pips (Zero Spread Account)
    Commission Vary depending on accounts
    Deposit Methods Visa, Skrill, NETELLER, PayCo, FasPay, Bitcoin, BitcoinCash, Tether, Local Bank Transfer
    Trading Platforms MetaTrader 4
    Customer Support Phone, Email, Live Chat (Facebook, Skype, Whatsapp)
    Education Resources E-books, Forex calculator, Daily market analysis, Economic calendar, Trading glossary
    Bonus Offerings 30% welcome bonus (non-EU traders only)

    General Information

    ForexMart is a global forex broker that offers various trading instruments and account types. It was founded in 2015 and is registered in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CYSEC). The company provides access to forex currencies, futures contracts for stocks, precious metals, and other trading instruments.

    ForexMart offers four live account types: Classic, Pro, Cents, Zero Spread. The minimum deposit starts from $15, and maximum leverage is 1:500. The broker provides commission-free trading on most accounts, and funding options include Visa, Skrill, NETELLER, Bitcoin, and more.

    The trading platform offered by ForexMart is MetaTrader 4 (MT4), available on desktop, mobile, and web terminals. MT4 is a popular and user-friendly platform that allows traders to analyze charts, place orders, and manage multiple trades.

    While ForexMart has strengths such as good funding options and commission-free trading, there are limitations like the absence of a web terminal for EU clients and a limited range of non-forex instruments. Traders should carefully consider these factors before choosing to trade with ForexMart.

    basic-info

    Pros and Cons

    While ForexMart has advantages such as good funding options and commission-free trading, there are also some limitations, such as the unavailability of web terminals for EU clients and a limited variety of non-forex instruments. Traders should consider these factors when choosing to trade with ForexMart.

    Pros Cons
    FCA regulation Limited range of non-forex instruments
    Commission-free trading for most trading accounts Absence of web terminal for EU clients
    Wide range of tradable instruments Suspected clone regulation (CYSEC)
    Swap-free account offered Limited customer support hours
    Low minimum deposit for Micro and Cent accounts Lack of bonus offerings for EU clients

    Is ForexMart Legit?

    ForexMart is currently regulated by the Cyprus Securities and Exchange Commission (Regulation No. 266/15), the UK Financial Conduct Authority (Regulation No. 728735), and the Virgin Islands Financial Services Commission Offshore (Regulation No. SIBA/L/14/1082). However, the CYSEC regulation (license number: 266/15) claimed by this broker is suspected to be a clone. Please be aware of the risk!

    regulation
    regulation
    regulation

    Market Instruments

    ForexMart offers a variety of options to suit different trading strategies, including forex, shares, indices, spot metals, energy, and cryptocurrency. The Classic Account offers floating spreads of around 1.2 pips for major forex pairs like EUR/USD, while the Pro account boasts tighter spreads averaging around 0.8 pips for the same pair. Both accounts are commission-free.

    65 Forex: EUR/USD, GBP/USD, USD/JPY...

    256 CFDs on Shares: AA Alcoa Inc., AAL ANGLO AMERICAN PLC ...

    19 Cryptocurrencies: BCHUSD, #Bitcoin, #Ethereum...

    2 Spot metals: Gold, Silver

    13 Indices: Standard & Poor's 500 Index, Deutsche Boerse AG German Stock Index...

    3 Energies: Natural Gas, Crude Oil, Brent Crude Oil

    market-instruments

    Here is a comparison table of trading instruments offered by different brokers:

    ForexMart OANDA Forex.com Webull
    Forex Yes Yes Yes Yes
    Stocks Yes Yes Yes Yes
    Gold Yes Yes Yes No
    Crypto Yes Yes Yes Yes
    CFD Yes No Yes No
    Commodities Yes Yes Yes No
    Silver Yes Yes Yes No
    Oil No No Yes No
    Copper No Yes No No
    Corn No Yes No No
    Futures No No Yes No
    Options No No Yes Yes
    ETFs No No No Yes
    Bonds No Yes No No

    Account Types

    ForexMart offers several trading accounts that allow you to choose the most suitable one for your trading strategy. This Broker offers four types of trading accounts: Classic, Pro, Cents, and Zero Spread.

    Each account type has different characteristics and minimum deposit requirements, which make it easy to choose the right Account for your needs.

    The following account types are available to ForexMart clients:

    ForexMart Classic Account:

    Leverage 1:3000 for balances up to $200 (Forex pairs only)

    Leverage 1:3000 for balances up to $500 (Forex pairs only)

    Leverage 1:1000 for balances up to $1,000 (Forex pairs only)

    Minimum deposit of $15

    Minimum spreads from 1 pip and average spread from 1.2 pips

    Trading from a minimum of 0.01 lots

    Commission-free trading

    Margin call of 30% and Stop-out level of 10%

    ForexMart Pro Account:

    Minimum deposit of $ 200

    Minimum spreads from 0.6 pips and average spread from 0.8 pips

    Trading from a minimum of 0.01 lots

    Commission-free trading

    Margin call of 30% and Stop-out level of 10%

    ForexMart Cent Account:

    Minimum deposit of $ 15

    Minimum spreads from 1 pip and average spread from 1.2 pips

    Commission-free trading

    Trading from a minimum of 0.01 cent lots

    Margin call of 30% and Stop-out level of 10%

    ForexMart Zero Spread Account:

    A minimum deposit of $ 500

    Minimum spread from 0.0 pips average spread from 0.2 pips

    Commissions from $6

    Trading from a minimum of 0.01 lots

    Orders Execution – Market

    account-types

    How to Open an Account?

    1. Step 1: Start Process

    To open a Forexmart account, navigate to the ForexMart website home page and select one of three options “Register”, “Trade Now” or “Open an account”

    open-account

    2. Step 2: Complete Information

    On the net page, you will be requested to complete all the personal information requested and select register.

    open-account

    3. Step 3: Verify account

    As soon as the account is created you will receive a verification email. Once the account is verified you can log in and start trading.

    ForexMart Leverage

    In terms of trading leverage, the maximum leverage available at ForexMart EU is 1:30 on major forex pairs. FX minors, indices and spot metals are available up to 1:20, energies up to 1:10, CFD shares up to 1:5 and cryptocurrencies up to 1:2. Non-EU clients can leverage up to 1:500

    Spreads & Commissions

    The minimum spread for Classic accounts is 1 pip, the average spread for Natural Gas is 34 pips and for Crude Oil is 63 pips with no commission. The minimum spread for Pro accounts is 0.6 pips, the average spread for Natural Gas is 24 pips and for Crude Oil is 46 pips, with no commission. The minimum spread for cent accounts is 1 pip, the average natural gas spread is 34 pips, and the crude oil spread is 63 pips with no commission. Forex trading commission for Zero account is $20 per lot, the spread for gold is 80 pips and for silver is 40 pips.

    Trading Platform

    ForexMart provides traders with access to the industry-leading MetaTrader 4 trading platform. This platform offers a comprehensive range of features that empower traders to effectively analyze the market and execute trades.

    With MetaTrader 4, users can effortlessly track multiple charts, execute trades directly from the charts, and efficiently manage multiple orders. The platform is user-friendly and can be easily installed without any cost. It supports various trade size allocation methods, allowing traders to customize their trading strategies. Additionally, MetaTrader 4 offers a wide selection of over 40 technical indicators to aid in market analysis. The platform also allows for customization, enabling traders to personalize their trading environment according to their preferences.

    trading-platform

    Here is a comparison table of trading platforms offered by different brokers:

    ForexMart RoboForex Pocket Option Tickmill EXNESS Group AMarkets
    Trading platform MT4 cTrader, MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader Pocket Option, MT5 MT4, MT5, Tickmill Mobile App Exness Trade Terminal, MobileTrading, MT4, MT5, WebTrader MT4, MT5

    Deposit & Withdrawal

    ForexMart welcomes a variety of deposit and withdrawal methods, including VISA (no fees for deposits, 2.5% + 3.5 EUR/USD transaction fee for withdrawals), MasterCard (no fees for deposits, 2.5% + 3.5 EUR/USD transaction fee for withdrawals), Skrill (1% fee for withdrawals), NETELLLER (2% transaction fee deducted for withdrawals, minimum $1, maximum $30), PayCo, FasaPay, UnionPay (2.5% transaction fee deducted for withdrawals), Alipay (2.5% transaction fee deducted for withdrawals), Bitcoin (0.0002 bitcoin + $2 fee deducted for withdrawals).

    Educational Resources and Community Support

    The ForexMart website includes a multi-page education brochure titled “The 10 Ideas Behind Forex Trading”, which is published in the relevant section and available in an electronic version.

    educational-resources

    The information available in the Education section

    Information not available on the ForexMart website

    General information about how the Forex trading system works

    Articles that contain a detailed analysis of each subject

    The main advantages of Forex trading

    Trading strategies

    Basic concepts and definitions

    E-books on Forex, commodities, CFDs, and stocks

    Glossary of terms

    Webinars and workshops

    Guides for installing an expert advisor

    ForexMart suggests beginning with a demo account to put theoretical knowledge into practice. This provides novice traders with the confidence, skills, and experience needed to begin trading on the real market, while also lowering the risk of making mistakes. To support traders, there is up-to-date analytical information, which, as well as educational materials, can be found on the official website in the Tools tab. The analytical section includes Economic News, Market Analysis, and an economic calendar.

    User Experience and Additional Features

    ForexMart presents a range of partnership programs to cater to various preferences. One such program is the Friend Referrer, which allows traders to focus on promoting ForexMart services to potential clients, while their referred friends handle most of the trading activities. As the referred friends generate profit, the trader also earns a share.

    To facilitate seamless integration into websites, ForexMart provides user-friendly and glitch-free widgets, along with promotional materials. These resources empower traders to enhance their websites effectively.

    Interested individuals can opt for different partnership options, including online partnership, local online partnership, or local office partnership. Each of these options offers opportunities to generate additional income deposited directly into the trader's account.

    user-experience

    Bonuses

    Due to stringent regulations governing trading bonuses in the EU, ForexMart currently does not provide any bonus offers. This applies to all types of bonuses, including no deposit bonuses, welcome bonus promotions, and demo contests.

    Occasionally, non-EU clients may come across offers on the ForexMart website, such as a 30% welcome bonus. It is important to carefully review the bonus terms and conditions to understand the specific details and requirements associated with such offers.

    Customer Support

    ForexMart provides multiple channels for contacting their support team. You can reach them through telephone or email, as well as engage in live chat via Facebook, Skype, or Whatsapp. The customer support team operates from 07:00 to 16:00 GMT.

    Telephone: +442 030 976 697

    Email: support@forexmart.eu

    Address: Instant Trading EU Ltd, Spetson 23A, Leda Court, Block B, Office B203, 4000 Mesa Geitonia, Limassol, Cyprus

    customer-support

    Conclusion

    In conclusion, ForexMart is a global forex broker that offers a range of trading instruments and account types to suit different trading strategies. Some advantages of ForexMart include good funding options with Bitcoin deposits, commission-free trading, and negative balance protection. However, there are also limitations such as the absence of a web terminal for EU clients, a limited range of non-forex instruments, limited additional tools, and no choice of platforms. Traders should carefully consider these factors when deciding to trade with ForexMart. Furthermore, it's important to note that the legitimacy of ForexMart's claimed regulation by CYSEC (license number: 266/15) is suspected to be a clone, so caution is advised.

    Customer Support

    ForexMart provides multiple channels for contacting their support team. You can reach them through telephone or email, as well as engage in live chat via Facebook, Skype, or Whatsapp. The customer support team operates from 07:00 to 16:00 GMT.

    Telephone: +442 030 976 697

    Email: support@forexmart.eu

    Address: Instant Trading EU Ltd, Spetson 23A, Leda Court, Block B, Office B203, 4000 Mesa Geitonia, Limassol, Cyprus

    customer-support

    Conclusion

    In conclusion, ForexMart is a global forex broker that offers a range of trading instruments and account types to suit different trading strategies. Some advantages of ForexMart include good funding options with Bitcoin deposits, commission-free trading, and negative balance protection. However, there are also limitations such as the absence of a web terminal for EU clients, a limited range of non-forex instruments, limited additional tools, and no choice of platforms. Traders should carefully consider these factors when deciding to trade with ForexMart. Furthermore, it's important to note that the legitimacy of ForexMart's claimed regulation by CYSEC (license number: 266/15) is suspected to be a clone, so caution is advised.

    Accepted Regions

    ForexMart accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

    FAQs

    Q: Is ForexMart regulated?

    A: ForexMart is a forex broker regulated by FCA, FSC. However, the CyprusCYSEC regulation (license number: 266/15) claimed by this broker is suspected to be a clone. Please be aware of the risk!

    Q: What account types does ForexMart offer?

    A: ForexMart offers four live account types: Classic, Pro, Cents, Zero. The availability of these account types may vary for EU and non-EU clients.

    Q: What are the spreads and commissions at ForexMart?

    A: The spreads and commissions at ForexMart vary depending on the account type and instrument. Floating spreads in the Classic account are around 1.2 pips for major forex pairs, while Pro account spreads average around 0.8 pips for the same pair. Commission-free trading is available on forex, but the Zero Spread account charges commissions.

    Q: What are the deposit and withdrawal methods at ForexMart?

    A: ForexMart offers various deposit methods, including Visa, Skrill, NETELLER, PayCo, FasPay, Bitcoin, BitcoinCash, Tether, and Local Bank Transfer. Withdrawals are usually processed using the same methods used for deposits, and there may be withdrawal fees depending on the payment method.

    Q: What trading platform does ForexMart use?

    A: ForexMart uses the MetaTrader 4 (MT4) platform as its trading platform. MT4 is a widely-used and popular platform known for its user-friendly interface, charting capabilities, and trading tools. It is available for desktop, web, and mobile devices。

    News

    Review about ForexMart! Find out it’s a good choice or not ?

    NewsReview about ForexMart! Find out it’s a good choice or not ?

    2023-09-26 15:18

    ForexMart is a global forex broker that offers various trading instruments and account types. It was founded in 2015 and is registered in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CYSEC). The company provides access to forex currencies, futures contracts for stocks, precious metals, and other trading instruments.

    WikiFX
    2023-09-26 15:18
    News
    Review about ForexMart! Find out it’s a good choice or not ?
    Alarming Signals from Wall Street: How the Fed's Decision Tanked Stocks and Boosted Bond Growth?

    NewsAlarming Signals from Wall Street: How the Fed's Decision Tanked Stocks and Boosted Bond Growth?

    2023-09-25 12:14

    The recent occurrences on Wall Street have sparked significant concerns among investors. On the eventful Thursday, the market underwent an intense rollercoaster ride as investors promptly divested their stocks.

    WikiFX
    2023-09-25 12:14
    News
    Alarming Signals from Wall Street: How the Fed's Decision Tanked Stocks and Boosted Bond Growth?
    USD/JPY to face explosive volatility as BOJ intervention looms

    NewsUSD/JPY to face explosive volatility as BOJ intervention looms

    2023-09-22 14:01

    Yesterday, the Federal Reserve sparked bullish momentum for the dollar, driving the USD/JPY pair to reach a fresh 10-month peak at 148.47.

    WikiFX
    2023-09-22 14:01
    News
    USD/JPY to face explosive volatility as BOJ intervention looms
    ECB keeps intrigue on monetary policy

    NewsECB keeps intrigue on monetary policy

    2023-09-08 18:04

    Members from the European Central Bank have issued a cautionary statement to investors. Those anticipating that the bank won't increase the interest rate the following week should be aware that this matter isn't settled yet, and there's still the possibility that the rate may raise.

    WikiFX
    2023-09-08 18:04
    News
    ECB keeps intrigue on monetary policy

    User Reviews

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    Write a review

    DANIEL6448
    more than one year
    Scam, Scam, Unable to withdraw. You can use any strategy as long as you lose your money, but when you get some profit they used one of the clauses to take your profit, be careful because their terms and conditions foresee all possible ways to take your profit, they are scammers, stay away from this scam broker.
    2023-03-22 21:00
    1
    0
    0
    张宴鑫
    more than one year
    One of the best trading companies ever! Safe fast and secure ... I had a great time with them. I highly recommend it, thank you! I have a good experience!
    2023-02-21 12:08
    1
    0
    0
    泵车维修配件-龚亦
    more than one year
    Unable to withdraw. Everthing looked quite good until I requested for a withdrawal. Their customer support was super bad, they talked just like robots, not humans. They didn’t have hearts. They stole all may profits and refused my withdrawal requests finally.
    2022-11-22 16:24
    1
    0
    0
    Capricorn
    more than one year
    This platform is just terrible, insanely high trading fees, just like a robber! If you had a loss, it was ok, but when you made a profit and wanted to take your money out, this devil platform would deduct all your profits. Lastly, it takes millions of years to withdraw your money. 👎 👎👎
    2022-11-22 13:57
    1
    1
    0
    Claire18709
    more than one year
    I just deposited some funds and I haven't opened any position, and just at that moment I saw that in wikifx many users here declare that it is a fraud platform! So I decided to withdraw my funds, but the forexmart people stated that because I haven't made any trades, they charge me a non-trading fee for my withdrawals... I know some brokers require it, but I really DON'T LIKE such a fee. .
    2022-11-18 10:07
    1
    1
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    7
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