According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- MT4
- CySEC
- 2005
Our Evaluation of ForexMart
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
ForexMart is a moderate-risk broker with the TU Overall Score of 6.81 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by ForexMart clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
ForexMart is a broker for those who value a wide range of trading instruments as well as quick support. This company is a good choice for both new and experienced traders who work from PCs and smartphones.
Brief Look at ForexMart
ForexMart is a company that operates globally, except for the United States, North Korea, Myanmar, Sudan, and Syria. The company is part of the TradoMart Ltd group. It was registered in 2015 in Cyprus, is regulated by the Cyprus Securities and Exchange Commission (CySEC, 266/15), and is a member of the European Securities and Markets Authority (ESMA). This broker provides clients with access to Forex currencies and other trading instruments such as futures contracts for stocks and precious metals.
Over the years, ForexMart has won many awards including “The Best New Broker in Europe 2016” from the International Financial Journal (IFM). A year earlier, ForexMart was named “The Most Promising Broker in Asia”, according to ShowFx World.
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- a diverse range of over 100 trading instruments. In addition to Forex currency, clients can use cryptocurrencies, as well as futures contracts for metals and stocks;
- the company’s official website contains a wealth of useful trading tips and educational materials.
- interesting partner programs for those looking to make extra money, as well as the option to invest in auto-copy trading.
- customer service is available 24/5;
- not suitable for scalping;
- few investment opportunities;
- no MT5 platform;
- a small set of analytical tools in comparison with some of its competitors;
- no PAMM accounts;
- not all trading advisors work stably.
TU Expert Advice
Financial expert and analyst at Traders Union
ForexMart is a broker that is recognized by the members of the Traders Union as a company that offers favorable trading conditions in the foreign exchange market. During the entire period of collaboration, the company met its partnership obligations to the Traders Union. The broker is new to the Forex trading industry, but it has already been recognized as promising.
ForexMart is a brokerage company that provides clients with a traditional demo account, which is useful for taking a deeper look at the trading platform and studying market mechanisms. It is also suitable for strategy testing. Of course, ForexMart also offers real accounts under various conditions. This enables everyone to choose the best account option for their trading strategy. In addition, there is the option to invest in auto-copy trading or choose among the broker’s partner programs to earn additional profit.
The broker is suitable for both novice and experienced traders. ForexMart has been a Traders Union partner for several years, and no significant claims have been made against the company’s work during that time. If there are any questions or disagreements, customer service will try to resolve them as soon as possible.
- Regulation and security are your priorities. ForexMart is regulated by CySEC (Cyprus Securities and Exchange Commission) and FCA (Financial Conduct Authority), providing strong protection for traders.
- If you are a non-EU trader, as you would be eligible for a generous 30% welcome bonus offered by ForexMart.
- Depending on your region and regulatory requirements, certain instruments like CFDs on US shares might be unavailable. Ensure this limitation aligns with your trading preferences and needs.
We checked the office of the ForexMart brokerage company in Cyprus, which is located at the following address according to the information on the company’s website:
Grigori Afxentiou 18, Mesa Geitonia, Zavos Leda Court, Block B 203, Limassol, Cyprus
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The company is located at the stated address
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We were able to speak to a company representative
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We were able to visit the office as clients
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Video of the company’s office
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ForexMart Trading Conditions
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: | MT4 |
|---|---|
| 📊 Accounts: | Classic, Pro, Cents, Zero Spread |
| 💰 Account currency: | USD |
| 💵 Deposit / Withdrawal: | Visa and MasterCard bank cards, e-wallets Skrill, Neteller, FasaPay, UnionPay, PayCo, Alipay, and Bitcoin |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:500 |
| 💼 PAMM-accounts: | Yes |
| 📈️ Min Order: | 0.01 lots |
| 💱 EUR/USD spread: | 0,1 pips |
| 🔧 Instruments: | Forex currencies, cryptocurrencies, CFDs |
| 💹 Margin Call / Stop Out: | 30% / 10% |
| 🏛 Liquidity provider: | Barclays, HSBC |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Market |
| ⭐ Trading features: | Trading in cryptocurrencies; Expert advisors; Auto-copy feature. |
| 🎁 Contests and bonuses: | Yes |
ForexMart brokerage company is distinguished by quite appealing trading conditions for traders from almost every country. To begin, it is worth noting the minimum trade volume, which is 0.01 lots for all types of trading accounts. The minimum spread is 0.0 points, and the deposit starts at $1.
ForexMart Key Parameters Evaluation
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Trading Account Opening
To make it easier for you to begin working with ForexMart, TU experts recommend follow the steps below:
Logging into the ForexMart user account is done from the broker’s main page. To do so, simply click Login and then select “clients” or “partners” as the account type.
Select a team account and enter the requested personal data to register on the broker's website.
To log in, enter both a login (email address or account number) and a password.
If you don't already have an account, click the Register button to create one. In this case, fill out the form’s fields according to the requirements. The broker will need to verify your passport details.
After registering or being authorized at ForexMart, the client can deposit funds into his account, download and launch the MT4 trading platform, select an instrument, and proceed to trade.
Also, ForexMart’s user account contains the following information:
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current analytical data;
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statistics of trading with expert advisors;
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information on promotions and bonuses;
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statistics on the effectiveness and profitability of partner programs;
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access to the history of trading operations and deposits/withdrawals;
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current quotes;
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client support service for professional advice.
Regulation and safety
ForexMart has a safety score of 9.2/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Negative balance protection
- Track record over 20 years
- Strict requirements and extensive documentation to open an account
ForexMart Regulators and Investor Protection
| Abbreviation | Full Name | Country of regulation | Investor Protection Fund | Regulation Level |
|---|---|---|---|---|
 CySec |
Cyprus Securities and Exchange Commission | Cyprus | Up to €20,000 | Tier-1 |
 FSC (Belize) |
Financial Services Commission of Belize | Belize | No specific fund | Tier-3 |
ForexMart Security Factors
| Foundation date | 2005 |
| Negative balance protection | Yes |
| Verification (KYC) | Yes |
Commissions and fees
The trading and non-trading commissions of broker ForexMart have been analyzed and rated as Medium with a fees score of 6/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- Above-average Forex trading fees
- Withdrawal fee applies
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of ForexMart with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, ForexMart’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
ForexMart Standard spreads
| ForexMart | Pepperstone | OANDA | |
| EUR/USD min, pips | 0,8 | 0,5 | 0,1 |
| EUR/USD max, pips | 1,2 | 1,5 | 0,5 |
| GPB/USD min, pips | 0,8 | 0,4 | 0,1 |
| GPB/USD max, pips | 1,5 | 1,4 | 0,5 |
RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
ForexMart RAW/ECN spreads
| ForexMart | Pepperstone | OANDA | |
| Commission ($ per lot) | 3 | 3 | 3,5 |
| EUR/USD avg spread | 0,1 | 0,1 | 0,15 |
| GBP/USD avg spread | 0,3 | 0,15 | 0,2 |
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with ForexMart. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
ForexMart Non-Trading Fees
| ForexMart | Pepperstone | OANDA | |
| Deposit fee, % | 0 | 0 | 0 |
| Withdrawal fee, % | 1-3 | 0 | 0 |
| Withdrawal fee, USD | 1-2 | 0 | 0-15 |
| Inactivity fee ($, per month) | 0 | 0 | 0 |
Account types
ForexMart provides a variety of account types with conditions tailored for each client.
Account types:
Regardless of the account type, there is no fee, and the minimum trade volume is 0.1 lots. There is also an introductory demo account available. It is appropriate not only for education and training but also for testing the effectiveness of trading strategies. ForexMart offers both traditional MT4 and mobile trading platforms.
Deposit and withdrawal
ForexMart received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
ForexMart offers limited payment options and accessibility, which may impact its competitiveness.
- Minimum deposit below industry average
- Bank wire transfers available
- Low minimum withdrawal requirement
- Bitcoin (BTC) accepted
- PayPal not supported
- Only major base currencies available
- Wise not supported
What are ForexMart deposit and withdrawal options?
ForexMart offers a limited selection of deposit and withdrawal methods, including Bank Card, Bank Wire, Skrill, Neteller, BTC. This limitation may restrict flexibility for users, making ForexMart less competitive for those seeking diverse payment options.
ForexMart Deposit and Withdrawal Methods vs Competitors
| ForexMart | Plus500 | Pepperstone | |
| Bank Wire | Yes | Yes | Yes |
| Bank card | Yes | Yes | Yes |
| PayPal | No | Yes | Yes |
| Wise | No | No | No |
| BTC | Yes | No | No |
What are ForexMart base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. ForexMart supports the following base account currencies:
What are ForexMart's minimum deposit and withdrawal amounts?
The minimum deposit on ForexMart is $15, while the minimum withdrawal amount is $10. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact ForexMart’s support team.
Markets and tradable assets
ForexMart offers a limited selection of trading assets compared to the market average. The platform supports 150 assets in total, including 55 Forex pairs.
- Crypto trading
- Copy trading platform
- Indices trading
- No ETFs
- Futures not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by ForexMart with its competitors, making it easier for you to find the perfect fit.
| ForexMart | Plus500 | Pepperstone | |
| Currency pairs | 55 | 60 | 90 |
| Total tradable assets | 150 | 2800 | 1200 |
| Stocks | Yes | Yes | Yes |
| Commodity futures | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| Stock indices | Yes | Yes | Yes |
| Options | No | Yes | No |
Investment options
We also explored the trading assets and products ForexMart offers for beginner traders and investors who prefer not to engage in active trading.
| ForexMart | Plus500 | Pepperstone | |
| Bonds | No | No | No |
| ETFs | No | Yes | Yes |
| Copy trading | Yes | No | Yes |
| PAMM investing | Yes | No | Yes |
| Managed accounts | No | No | No |
Trading platforms & tools
ForexMart received a score of 7.1/10, reflecting an average offering in terms of trading platforms and tools. The broker covers essential functionality but may fall short in some advanced features or platform diversity compared to leading competitors.
- MetaTrader is available
- One-click trading
- Free VPS for uninterrupted trading
- Trading bots (EAs) allowed
- No access to cTrader and its advanced tools.
- No TradingView integration
- No access to a proprietary platform
Supported trading platforms
ForexMart supports the following trading platforms: MT4, WebTrader. This selection covers the basic needs of most retail traders. We also compared ForexMart’s platform availability with that of top competitors to assess its relative market position.
| ForexMart | Plus500 | Pepperstone | |
| MT4 | Yes | No | Yes |
| MT5 | No | No | Yes |
| cTrader | No | No | Yes |
| TradingView | No | Yes | Yes |
| Proprietary platform | No | Yes | Yes |
| NinjaTrader | No | No | No |
| WebTrader | Yes | Yes | Yes |
Key ForexMart’s trading platform features
We also evaluated whether ForexMart offers essential trading features that enhance user experience, accommodate various trading styles, and improve overall functionality.
Supported features
| 2FA | Yes |
| Alerts | Yes |
| Trading bots (EAs) | Yes |
| One-click trading | Yes |
| Scalping | Yes |
| Supported indicators | 30 |
| Tradable assets | 150 |
Additional trading tools
ForexMart offers several additional features designed to enhance the trading experience. These tools provide greater automation, deliver advanced market insights, and help improve trade execution.
ForexMart trading tools vs competitors
| ForexMart | Plus500 | Pepperstone | |
| Trading Central | Yes | No | No |
| API | Yes | No | Yes |
| Free VPS | Yes | No | Yes |
| Strategy (EA) builder | Yes | No | Yes |
| Autochartist | Yes | No | Yes |
Mobile apps
ForexMart supports mobile trading, offering dedicated apps for both iOS and Android. ForexMart received 2/10 in this section, which suggests limited user interest or weak performance of the apps.
- User-friendly interface
- Indicators not supported
We compared ForexMart with two top competitors by mobile downloads, app ratings, 2FA support, indicators, and trading alerts.
| ForexMart | Plus500 | Pepperstone | |
| Total downloads | No data | 10,000,000 | 100,000 |
| App Store score | No data | 4.7 | 4.0 |
| Google Play score | No data | 4.4 | 4.0 |
| Mob. 2FA | No | Yes | Yes |
| Mob. Indicators | No | Yes | Yes |
| Mob. Alerts | No | Yes | Yes |
Education
The ForexMart website includes a multi-page education brochure titled “The 10 Behind Forex Trading”, which is published in the relevant section and available in an electronic version.
Note: The Presentation section also includes a wealth of useful information, such as a step-by-step guide for opening a trading account.
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.
Customer support
Client service representatives are available 24 hours a day, five days a week, to answer clients’ questions and assist traders.
Advantages
- Many communication options, including the possibility to request a callback
- Multilingual support
- The website includes a section with answers to the most frequently asked questions
- Unregistered visitors can ask a question of client support
Disadvantages
- Not reachable on weekends
There are several ways to contact support:
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directly through the phone numbers listed on the website;
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by email;
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via online chat on the broker’s website;
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through popular messengers: Facebook, Skype, Viber, and Telegram;
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using the feedback form.
The client service team can be accessed from the ForexMart website and the client’s user account.
Contacts
| Foundation date | 2005 |
|---|---|
| Registration address | Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines. |
| Regulation | CySEC |
| Official site | forexmart.com |
| Contacts |
443 300 104 195
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Comparison of ForexMart with other Brokers
| ForexMart | Eightcap | XM Group | RoboForex | LiteFinance | InstaForex | |
| Trading platform |
MT4 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | MT4, MT5, MultiTerminal, Sirix Webtrader | MT4, MultiTerminal, MobileTrading, MT5, WebTrader |
| Min deposit | $1 | $100 | $5 | $10 | $10 | $1 |
| Leverage |
From 1:1 to 1:500 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:1000 |
| Trust management | No | No | No | No | Yes | Yes |
| Accrual of % on the balance | No | No | No | 10.00% | 7.00% | No |
| Spread | From 0 points | From 0 points | From 0.8 points | From 0 points | From 0.5 points | From 0 points |
| Level of margin call / stop out |
30% / 10% | 80% / 50% | 100% / 50% | 60% / 40% | 50% / 20% | 30% / 10% |
| Order Execution | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Instant Execution |
| No deposit bonus | $150 | No | No | No | No | No |
| Cent accounts | Yes | No | No | Yes | Yes | Yes |
Detailed review of ForexMart
ForexMart is one of the promising young trading companies that offer services in the Forex market. The broker takes a responsible approach to fulfilling his obligations, providing clients with up-to-date trading and market tools for analytics.
ForexMart is regulated by the Cyprus Securities and Exchange Commission (CySEC), which ensures the company’s reliability. The client does not have to be concerned about the safety of assets or a variety of secondary issues, allowing him to focus solely on trading and earning profits.
ForexMart is a broker that is suitable for both beginners and experienced traders.
ForexMart is a company that pays a lot of attention to education. There are a lot of high-quality educational materials in the relevant section of its website that are worth reading by both novice and veteran market participants.
The broker provides four types of real accounts from which to choose. The minimum deposit starts at $1, depending on the option selected. Users can open a free demo account to become acquainted with the features of the software and the market’s trading mechanisms, as well as to safely test their strategies.
The company is appropriate for traders who use various trading strategies, such as automated trading with expert advisors and trading on the news. There is also the option to invest in auto-copying. Order execution is market-based on all accounts, and when utilizing Zero Spread it is instantaneous.
As a trading platform, the broker offers its clients the popular MT4 system. Clients can trade using a computer or laptop, as well as mobile devices running Android or iOS.
ForexMart’s analytical services:
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technical and fundamental market analysis allows a trader to use the information necessary for effective trading;
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the economic calendar and market news are indispensable tools for trading on the news and monitoring factors influencing trading instrument volatility.
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currency converter.
Advantages:
monitoring by a reputable regulator;
good liquidity;
attractive trading conditions: four types of accounts, including a demo account, and low spreads starting at 0 points;
over 100 trading instruments. In addition to fiat currency pairs, clients can trade stocks, cryptocurrencies, and futures;
wide range of quality educational materials;
protection from a negative balance;
possibility of automatic trading: it is allowed to trade using expert advisors and benefit from auto-copying services;
swap-free account option.
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