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ForexMart Broker Review
Phone: +357 99233974
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Our Overall Rating
- Award winning Broker
- ECN System
- Good leverage up to 1:500
- 60+ currency pairs on low flexible spreads without commission
ForexMart is a worthy example of a modern investment brokerage company, who has earned a reputation as a reliable trading partner, guaranteeing the safety and comfort of online trading for its clients. The company was founded in 2015 in Cyprus and it is a trademark of Instant Trading EU Ltd., regulated by the Cyprus Securities and Exchange Commission (CySEC).
Despite the fact that the company is relatively young, it quickly gained the respect and interest of customers and partners. Since its founding, the company’s achievements have been repeatedly marked by a number of reputable publications in the field of trading in the financial markets. Receiving the awards “Best Forex Newcomer 2016”, “Best Broker in Europe” in 2015 and 2016 and “Most Promising Broker in Asia 2015” right from the start is a great confirmation of ForexMart’s competence and professionalism.
ForexMart is known as a reliable and secure broker. The company is a member of the Investor Compensation Fund, so every client can insure the deposit. Moreover, as part of the industry standards, ForexMart separates all client funds from company assets to ensure clients money is safe and available at any time.
The company offers high-end trading software, provides a wide range of trading instruments (currency pairs, CFDs, spot metals, cryptocurrencies) and protects customer accounts from any fraudulent activities. The most favorable trading conditions give ForexMart clients the opportunity to profitably and comfortably make trading operations and earn money in the financial markets.
Moreover, ForexMart Electronic uses ECN (Electronic Communication Network), technology that allows the client to directly connect market participants with major liquidity providers without the presence of intermediaries and dealers. Thanks to the ECN system, the company lets customers use narrow spreads, low commissions and instant execution of orders.
It should be noted that ForexMart doesn’t accept clients from certain countries, including the United States and Cuba.
Commissions & Fees
ForexMart offers commission-free trades when trading Forex, and most other available instruments. As is typical with Forex trading, profits are taken from the spreads, which are one of the lowest on the market. The leverage is also good, up to 1:500.
There is no deposit or withdrawal fees levied by the broker (although you should be aware that your bank or credit card provider may charge transfer fees). Also ForexMart will charge an administration fee on dormant accounts, which applies after six months of inactivity.
The broker offers 4 types of trading accounts. Each account has its own free demo version on which you can trade using virtual cash.
- ForexMart Classic with minimum deposit $15 – intended for classic trading with minimal requirements. The average spread is 1.2 pips.
- ForexMart Pro with minimum deposit $200 – designed for more serious and sophisticated traders. The average spread is 0.8 pips.
- ForexMart Cents with minimum deposit $15 – mostly fits for traders, who just start their trading activity. Suitable for algorithmic trading. The average spread is 1.2 pips.
- ForexMart Zero Spread with minimum deposit $1 – the only type of account with a commission 0,02%-0,07%. This condition applies to trading in major currency pairs.
Platforms & Tools
ForexMart supports the ever-popular Forex trading platform MetaTrader 4, that provides a wide range of tools and functions that a trader needs: a number of technical indicators, an extended package for charting, a wide range of Expert Advisors (EAs) and an extensive environment for back testing. It allows to track a few charts simultaneously, trade directly from the chart, place orders and manage multiple orders.
The Web Terminal of ForexMart is easily accessible from any browser and can be used without the need to download or install additional software.
The company also provides free mobile apps which can be downloaded for both iOS and Android devices, with easy access to all the same tools and features as the web-based platform. All platforms are intuitive, highly user-friendly and easy to install (if needed).
The customer support, offered by the company is available in several languages, 24 hours a day, 5 days a week. The clients may choose any preferable way to contact support specialists: phone and live chat, Skype, WhatsApp and ICQ. It is also possible to request a call back by filling in a quick form via the website that specifies when you’d like to be called, which language you prefer and what your question or issue is about.
Forex trading is not easy and Forex Mart understands the importance of training like no other. The broker offers a wide range of learning material comes in various formats: on the web-site of the company there is an Economic Calendar, daily updated section of analytical reviews and economic news. There is also a FAQ section, covering general trading questions, education brochure and written advice on how to install EA and terminal.
Ease of Use
ForexMart offers one of the most comfortable and easy conditions on the market. Clients can invest across a wide range of currency pairs or other trading instruments such as cryptocurrencies, CFDs on shares, spot metals, energy and indices.
There are in excess of 60+ currency pairs on low flexible spreads without commission (or raw spreads plus commission) depending on the account type. Traders can also trade CFDs on Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple. Leverage is capped at 1:2 as these instruments are particularly volatile.
The company offers to trade CFDs on 50+ US equities, including popular stocks such as Amazon, Apple, Facebook and Google, and trading CFDs on the price of gold and silver against the US Dollar.
ForexMart mobile application supports both Demo and Live account trading, it is free to download and available on both iPhone and Android platforms.
Forexmart offers its clients to take advantage of automated trading, using the Copy Trading System. This service allows to trade by copying transactions and trading strategies of the most successful traders in real time. Moreover, the Copy Trading service gives the option to provide a client’s account for being copied and receive additional income from trading without increasing risks.
This way of investing suits well for beginners, as there is no need to study all aspects of Forex trading and master complex strategies in order to start earning income. Qualified traders also will find interest in this way of getting additional income.
ForexMart provides a wide range of financial instruments including cryptocurrency. The company offers to trade with the most popular virtual currencies: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple.
The ForexMart clients can trade cryptocurrency directly in MT4 terminal, via web-terminal in the personal account on company’s web-page and via mobile app ForexMart.
ForexMart Prohibited countries:
Cuba | Myanmar | North Korea | Sudan | Syria | United States
ForexMart serves customers outside of the European Union through the ForexMart.com website and being the trademark of Tradomart SV Ltd, an international business corporation registered in Saint Vincent and the Grenadines.
The customers inside the European Union are served through the ForexMart.eu website. In this case the company is the trademark of Instant Trading EU Ltd, an investment firm regulated by the Cyprus Securities and Exchange Commission (license number 266/15). CySEC is an independent financial supervisor of the Republic of Cyprus and is a member of the European Securities Market Supervisory Authority (ESMA).
From their website:
ForexMart is a relatively new broker who is already receiving industry attention and awards, becoming known as a flexible and reliable Forex trading firm. The company is fully regulated and offers a wide choice of instruments, although the focus is very much on Forex trading. The company is a member of the Investor Compensation Fund, so every client can insure the deposit.
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