ForexMart Review

MIN. DEPOSIT 1 CCY
Up to 5,000:1
Up to $300 BONUS
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ForexMart
Up to $300
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Overview

Company Information ForexMart is a company providing online trading services since 2015. The brand is owned by Tradomart Ltd. and was founded in 2014. The company’s headquarters are located in… more

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Details

Broker ForexMart
Website URL https://www.forexmart.com/
Founded 2015
Headquarters Cyprus
Support Number +357-96789832
Support Email support@forexmart.com
Support Types Phone, Live Chat, E-mail, Skype
Languages English, Russian, Japanese, Indonesian, German, French, Italian, Spanish, Portuguese, Bulgarian, Malay, Polish
Minimum 1st Deposit 1 CCY
Minimum Trade Amount 0.01 lots (standard); 0.1 lots (premium)
Bonus Up to $300
Payout Up to 5,000:1
Free Demo Account Yes
Regulated Yes
Regulation CySEC
Account Types ForexMart ECN Standard, ForexMart ECN Zero Spread
Deposit Methods Bank Transfer, Visa, MasterCard, Skrill, Neteller, PayPal, PayCo, Qiwi, Mega Transfer, Paxum
Withdrawal Methods Bank Transfer, Visa, MasterCard, Skrill, Neteller, PayPal, PayCo, Qiwi, Mega Transfer, Paxum
Types of Assets Forex, Shares, Spot Metals, Bitcoin, Ruble
Account Currency USD, EUR, GBP, RUB
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

ForexMart is a company providing online trading services since 2015. The brand is owned by Tradomart Ltd. and was founded in 2014. The company’s headquarters are located in Limassol, Cyprus, and they operate under the authority of CySEC. ForexMart is also members of ESMA (European Securities and Markets Authority).  Despite being a relatively new player in the online trading industry, this broker offers some excellent market options and very tempting bonus deals. With a great platform with some unique features and very competitive spreads, ForexMart quickly caught the attention of many traders around the world. Their low deposit requirements and very quick trade execution are the number one reason it’s a preferred choice for beginner and expert traders. ForexMart doesn’t allow US traders to register on their platform along with some other countries which can be checked on their site. Let’s see what trading instruments and features ForexMart offers.

Trading Information

As we already mentioned, spreads are very tight at ForexMart. In fact, they have an account which allows a fixed spread of 0 for majors like EUR/USD. The platform offers two types of accounts the Standard and the Zero Spread. They both have similar leverages (Forex 1:1000, Gold&Silver 1:100 and CFD’s 1:20) and cost just a $1 minimum deposit. The Zero Spread account is different in having a commission (one-way) per 1 std. Lot – $20. Offered currency pair for Forex trading is 108 (80 of which exotic) which is way above the industry standard. Scalping and hedging are allowed for both accounts, and there is an Islamic account option. There is a vast list of a feature offered by the platform with trailing stop order, automated trading, one-click trading, pending orders and much more others supported. Minimum position size is set to 0.01 lots. It’s no surprise that reviewers give this broker some of the highest marks in the industry. They’re packed with trading instruments and features. While their main focus remains Forex trading, they also provide stocks, indices, and bitcoin.

Trading Platforms

The platform that ForexMart have chosen for their services is the Metatrader4. If you have been in the trading business, you know fully well that this is the most used and famous platform around the world. It offers unmatched reliability and a very bug-free trading experience. It’s very easy to download and install, and setting it up to your preferences is hassle-free. The MT4 might have a bit outdated graphics but is still very popular around the world. There are tons of guides over the Internet, and you can quickly learn about it from videos on Youtube. Now, as good as it may be it is not usable without a download which is a bit disappointing for people who would like to access it from a device that is not allowing installation. Mobile trading is supported, and it works both on Android and Apple devices. It would be nice to see if ForexMart will implement a WebTrader platform in the future. It will make things much easier for some people.

Security and Customer Services

Security at ForexMart is at its best, and there is not much to say about it. They are regulated, they have an SSL encryption, and they even provide VPS services to all their clients. Customer support is nothing but excellent. Their working hours are 24/5 but most of their particular departments (like Marketing, Finance, Verification, Trading) work from 07:00 to 16:00 GMT Monday to Friday. There are many ways you contact the customer support team. You can use on of the phones on their site, get in touch through Skype, ICQ, Whatsapp, Telegram Messenger or even Yahoo. They also have a Live chat feature on their site. The educational resources that ForexMart offers are nothing to brag about but they will get you started if you are not familiar with online trading. Their FAQ section is quite helpful and will give answers to the more basic questions. A demo account is available for everyone that wants to experience the online trading business without risking funds.

Deposits and Withdraws

Depositing money into your ForexMart account is very easy with plenty of banking methods supported. All the credit and debit card options are available along with bank transfers. Digital wallets are also available. There are no commissions for deposit however some charges may appear depending on the banking method. On their dedicated page, it says that all deposit costs and fees will be compensated by the broker. Processing times are from Instant to 2-4 business days depending on the chosen banking method. Withdrawals are made the same way you deposited the money. There are some transaction fees which are thoroughly explained on their deposit/withdraw page. Processing times are relatively quick from 24 hours to 1-7 business days.

Deposit Bonus and Loyalty Programs

ForexMart is a new broker which means that it has to offer at least 1 type of bonus. And they do. They have a “30% Deposit Bonus” for new clients. I couldn’t find if there is a limit to this bonus but there is a volume condition requirement. Depending on how big is your bonus you have to trade more lots and if you don’t, some of the bonus money will be taken by the company. ForexMart has reserved its right to change or cancel this 30% without warning. Their affiliate program is also very strong, and it deserves some attention. There are many benefits for clients who attract more people to the platform.

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