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Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

4.1
/ 5

ForexMart review

By azeshan
Updated on Sep 1, 2024
|
9 mins read

Overview

ForexMart is the brand name of Instant Trading EU Limited, based in Cyprus; they’ve been in operation since 2015 and hold a CIF license with the Cyprus Securities...
See full overview for ForexMart
Countries
+220
Devices
Max insured
No
Our Verdict
4.1
/ 5
Commissions & Fees
4.7
/ 5
Deposit & Withdrawal
4.2
/ 5
Customer Support
3.6
/ 5
Account Opening
3.9
/ 5
Regulation & Safety
4.1
/ 5

Our 5-step process of verification and evaluation – How do we obtain information?

 

General inspection – 30%

Trading experience – 30%

Technical audit – 20%

Collective experience from collaborations with the broker – 10%

Interviews with real traders – 10%

 

See the entire process here.

Pros

  • ForexMart offers various trading instruments, including Forex, metals, energies, and cryptocurrencies.

  • The Broker provides clients with low spreads, making it an affordable option for those looking to trade Forex.

  • ForexMart offers high leverage, which allows traders to increase their potential profits.

  • The Broker offers several account types, including a demo account, making it accessible to traders of all levels.

  • ForexMart provides clients with multiple deposit and withdrawal options, making it easy to fund and withdraw from their accounts.

  • The Broker offers a mobile trading app, making it convenient for traders to stay on top of their positions.

Cons

  • ForexMart charges withdrawal fees depending on the payment method, which can add up over time.

  • The spreads for some instruments offered by ForexMart are not as competitive as other brokers in the market.

  • There is a lack of educational materials such as trading strategies, e-books, and webinars on Forex, commodities, CFDs, and stocks.

  • Their rating score is poor on some review platforms.

  • Allegations of cloned Cyprus CYSEC regulation (license number: 266/15) claimed by this broker.

General details

Type of accounts
Unlimited Demo Accounts
Standard Accounts
ECN accounts
Execution Model
ECN
Deposit currency
USD
EUR
GBP
Regulatory complience
CySEC
Deposit payment systems
Withdrawal payment systems
Support Languges
English
Polish
Russian
Autotrading
ForexMart CopyTrade System MT4 EA MQL.5 Signals
Contact details
[email protected] + 442 030 976 697

Customer reviews

Read real reviews from traders all over the world:

M
Matthew Dawson
17 January 2023
Advantages: No inactivity commission
Disadvantages: Lack of platforms to trade on, leverage is low, educational material needs improvement
I'd say that the only advantage of working with this broker is that there's no inactivity fee, and it's actually a challenge to find a broker that won't charge you a fortune for not trading. But I think that this broker could earn a lot that way because trading on this platform isn't the best experience. Well, maybe some traders enjoy trading with that broker, but for me, it wasn't worth it at all.
A
Austin Price
11 October 2022
Advantages: A large selection of the most popular trading instruments; Several reliable and reputable financial regulators
Disadvantages: There is no cent account type Complex verification process
Hi all, I will also give out my opinion reading a bunch of stuff here. I always had a good experience with this broker and I never had any problem with it: I have registered after reading a lot of reviews on different sites about this broker (for myself, I concluded that it seems to be normal), the support is very friendly and helps to solve problems. But in my opinion the main nuance is that at first one analyst called me, agitated so to speak and promised me a lot of promises. But after I deposited the account (we agreed at once that the deposit was small and it was absolutely normal) she immediately said goodbye and passed me to another one. And then it started, he did not want to work with a small depo, I will show as much as possible and then either the sum is bigger or you trade by yourself, plus he said that he only trades on stocks, and I wanted to trade on raw materials. I have been trying to trade only on stocks and I wanted to trade commodities myself.
See all 12 customers reviews

Accounts

Type of Trading Accounts on Forexmart 

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 Classic Account: This is ideal for beginners or those who prefer a more straightforward approach to trading. It has a minimum deposit requirement of $15 and offers no commissions. The average spread is 1.2 pips, and the minimum lot size is 0.01. This account type allows traders to execute orders in the market.
  • The Pro account: This is designed for experienced traders who require more advanced trading tools. The minimum deposit requirement is $200, and there are no commissions. The average spread is 0.8 pips, and the minimum lot size is 0.01. This account type also allows traders to execute orders in the market.
  • The Cents account: This is an excellent option for those who want to start trading with a smaller account size. The minimum deposit requirement is $15, and the minimum lot size is 0.1 (cent lots). The average spread is 1.2 pips, and there are no commissions. Traders can also execute orders in the market on this Account.
  • The Zero Spread account is for those who want to enjoy the lowest spreads available. The minimum deposit requirement is $500, and the minimum lot size is 0.01. The spread is 0.0 pips, but a commission starts from $6. This account type also allows traders to execute orders in the market.
ForexMart Micro Account - ForexMart
Swap-free account
Hedging
Trading 24 hours a day
Trading Platforms
METATRADER 4
Deposit currency
USD
EUR
Trading instruments
Forex
1:5000
Number of currency pairs: 16
AUD
CAD
CHF
CZK
DKK
EUR
GBP
HKD
HUF
MXN
NOK
NZD
SEK
SGD
USD
ZAR
Stop Out
10 %
Minimum position size
0.01 units
Maximum position size
1000 units
Execution type
instant
Spread type
Floating
Decimal places
4
Margin Call
30 %
Commission
Not
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
ForexMart ECN Zero Spread - ForexMart
Swap-free account
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Mailing the documents
Trading Platforms
METATRADER 4
Deposit currency
USD
EUR
GBP
Trading instruments
Forex
1:5000
Number of currency pairs: 16
AUD
CAD
CHF
CZK
DKK
EUR
GBP
HKD
HUF
MXN
NOK
NZD
SEK
SGD
USD
ZAR
Stop Out
10 %
Minimum position size
0.01 units
Maximum position size
1000 units
Execution type
instant
Spread type
Floating
Decimal places
4
Margin Call
30 %
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
ForexMart ECN Standard - ForexMart
Swap-free account
Hedging
Trading 24 hours a day
Trailing stop
Mailing the documents
Trading Platforms
METATRADER 4
Deposit currency
USD
EUR
GBP
Trading instruments
Forex
1:5000
Number of currency pairs: 16
AUD
CAD
CHF
CZK
DKK
EUR
GBP
HKD
MXN
NOK
HUF
NZD
SEK
SGD
USD
ZAR
Stop Out
10 %
Minimum position size
0.01 units
Maximum position size
1000 units
Execution type
instant
Spread type
Floating
Decimal places
4
Margin Call
30 %
Commission
Not
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents

Tradable instruments

Tradable instruments on ForexMart trading platforms include:

  • 256 CFDs on Shares
  • 2 Spot metals
  • 3 Energies
Currencies
65
Cryptocurrencies
19
Indices
13

Frequently asked questions

Find the right answer to your question below.

Is ForexMart a Scam?

Forexmart has been operating since 2015. While it is not one of the biggest players in the market, it has attracted many clients over the years. However, when you look at its ratings on popular review platforms, you will see its poor score. This is a cause for concern, as it suggests that many clients have had negative experiences with this Broker.

Recently, there has been an allegation that the Cyprus CYSEC regulation (license number: 266/15) claimed by this Broker is suspected to be a clone. This is a serious concern, as it raises questions about the legitimacy of Forexmart as a broker. This has led to a drastic reduction in trust scores on most review platforms.

While it is important to be cautious when dealing with any broker, it is worth noting that there is no concrete evidence to suggest that Forexmart is a scam.

How do I open a Forexmart trading account?

Getting on the ForexMart platform is straightforward and can be completed in just a few easy steps.

All you have to do is visit the ForexMart website and click on the “Register” button at the homepage’s top right corner. You will then be directed to a page to choose between opening a demo or a live Account.

If you’re new to trading or want to try different strategies without risking your money, we recommend starting with a demo account. It’s a great way to practice trading without the pressure of making real profits or losses. Fill in the necessary information, and you’re all set to start trading in a simulated environment.

If you’re ready to start trading with real money, select the “Live Account” option and choose between the available account types. Once you’ve selected your preferred account type, fill in your personal information and choose your base currency. Then, you must verify your identity by providing a valid ID and proof of address.

Finally, fund your Account using one of the various payment methods available, including bank transfer, credit/debit cards, e-wallets, and even Bitcoin.

ForexMart compared with alternative brokers

To see the full broker review click “See review”, to see the complete table and compare more brokers visit our Comparison page.

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  • Fees
  • Withdrawal fee
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  • Safety
  • Top-tier regulators
  • Investor protection
ForexMart
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  • Free VPS hosting
  • 24/7 instant money withdrawal
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ACY.com
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  • $0
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  • ASIC
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