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ForexMart review
By
9 mins read
Overview
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.
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The spreads for some instruments offered by ForexMart are not as competitive as other brokers in the market.
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There is a lack of educational materials such as trading strategies, e-books, and webinars on Forex, commodities, CFDs, and stocks.
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Their rating score is poor on some review platforms.
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Allegations of cloned Cyprus CYSEC regulation (license number: 266/15) claimed by this broker.
General details
+ 442 030 976 697
Customer reviews
score
Read real reviews from traders all over the world:
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.
Tradable instruments
Tradable instruments on ForexMart trading platforms include:
- 256 CFDs on Shares
- 2 Spot metals
- 3 Energies
Frequently asked questions
Find the right answer to your question below.
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.
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.
- Overall verdict
- Trading
- Minimum deposit
- Maximum leverage
- Fees
- Withdrawal fee
- Deposit fee
- Safety
- Top-tier regulators
- Investor protection
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4.1/ 5
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4.2/ 5
- N/A
- N/A
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4.7/ 5
- N/A
- N/A
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4.1/ 5
- CYSEC
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Yes
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See review
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4.6/ 5
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4.3/ 5
- N/A
- N/A
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4.9/ 5
- N/A
- N/A
-
4.9/ 5
- CBR
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Yes
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See review
-
4.1/ 5
-
4/ 5
- N/A
- N/A
-
4.1/ 5
- N/A
- N/A
-
4/ 5
- VFSC
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Yes
-
See review
-
4/ 5
-
3.9/ 5
- N/A
- N/A
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3.5/ 5
- N/A
- N/A
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4.6/ 5
- ASIC
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No
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See review
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4/ 5
-
3.7/ 5
- 50$
- 1:500
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4.5/ 5
- $0
- $0
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4.2/ 5
- ASIC
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Yes
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See review
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United StatesUS
