Score
ForexMart
Saint Vincent and the Grenadines|5-10 years| https://www.forexmart.com/
Website
Rating Index
Influence
Influence
C
Influence index NO.1
Malaysia 2.92Contact
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic Information
Saint Vincent and the GrenadinesAccount Information
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Sources
Language
Mkt. Analysis
Creatives
WikiResearchWebsite
Most visited countries/areas
Nigeria
Philippines
South Africa
forexmart.com
Server Location
Germany
Most visited countries/areas
United States
Website Domain Name
forexmart.com
Website
WHOIS.NAME.COM
Company
NAME.COM, INC.
Domain Effective Date
0001-01-01
Server IP
136.243.104.88
Company Summary
| ForexMartReview Summary | |
| Founded | 2007 |
| Registered Country/Region | Saint Vincent and the Grenadines |
| Regulation | Offshore Regulated |
| Market Instruments | Forex, Spot Metals, Indices, Cryptocurrencies, Energies, CFDs on Shares |
| Demo Account | ✅ |
| Leverage | Up to 1:300 |
| Spread | From 0.0 (EUR/USD) |
| Trading Platform | Online Forex Trading Platform |
| Min Deposit | $15 |
| Customer Support | Phone: + 442 030 976 697 |
| Email: support@forexmart.com | |
| Social Media: Facebook, Twitter | |
ForexMart Information
ForexMart is a broker incorporated in Saint Vincent and the Grenadines in 2007. The trading instruments it provides are mainly Forex, Spot Metals, Indices, Cryptocurrencies, Energies, CFDs on Shares. In addition, there are 4 account types to choose from. However, the current regulatory status of the brokerage is relatively poor, holding 3 licenses: FCA revoked the license, CYSEC determined the regulatory status as suspected cloning, and FSC determined it was subject to offshore regulation.
Pros and Cons
| Pros | Cons |
| The number of tradable instruments is large | The regulatory status is poor |
| 4 kinds of accounts | MT4/5 is not supported |
| Can be traded without commission |
Is ForexMart Legit?
| Regulated Country/Region |  |  |  |
| Regulated Authority | FCA | FSC | CYSEC |
| Regulated Entity | INSTANT TRADING EU LTD | Instant Trading Ltd, | Instant Trading EU Ltd |
| License Type | European Authorized Representative (EEA) | Retail Forex License | Market Making(MM) |
| License Number | 728735 | SIBA/L/14/1082 | 266/15 |
| Current Status | Revoked | Offshore Regulated | Suspicious Clone |
What Can I Trade on ForexMart?
ForexMart offers 60+ forex pairs, 200+ CFDs on shares, 4 spot metals, 19 cryptocurrencies, 3 energies, 13 indices.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Spot Metals | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| Energies | ✔ |
| CFDs on Shares | ✔ |
| Bonds | ❌ |
| ETF | ❌ |
Account Types
The 4 types of ForexMart accounts are Classic, Pro, Cents, Zero and Spread. Their minimum deposit ranges from $15 to $500. Among them, the maximum leverage is 1:300.
| Account Types | Classic | Pro | Cents | Zero Spread |
| Min Spread (pips) | 1 | 0.6 | 1 | 0 |
| Average Spread (pips) | 1.2 | 0.8 | 1.2 | 0.2 |
| Commissions | No commissions | No commissions | No commissions | From $6 |
| Min Deposit | $15 | $200 | $15 | $500 |
| Min Lot Size | 0.01 | 0.01 | 0.1 (cent lots) | 0.01 |
| Order Execution | Market | Market | Market | Market |
| Max Leverage | 1:3000 | 1:3000 | 1:3000 | 1:200 |
| Margin Call | 30% | 30% | 30% | 30% |
| Stop Out Level | 10% | 10% | 10% | 10% |
| Max Open Trades | 500 | 500 | 500 | 500 |
ForexMart Fees
The minimum spread for the four accounts ranged from 0 pips to 1 pips, and the average spread ranged from 0.2 pips to 1.2 pips. In addition, only Zero Account receives commission from $6, and the remaining accounts have no commission.
The spread of EUR/USD in the forex pair is found to be the lowest 0.0 after comparing four kinds of accounts.
| Symbol | ForexMart Classic/Cent *Spread | ForexMart Pro *Spread | Zero Spread *Spread |
| EURUSD.fx | 1.3 | 0.7 | 0 |
| GBPUSD.fx | 1.4 | 0.8 | 0.1 |
| USDJPY.fx | 1.4 | 0.8 | 0.1 |
| USDCHF.fx | 1.8 | 1.2 | 0.5 |
| USDCAD.fx | 1.6 | 1 | 0.3 |
| AUDUSD.fx | 1.3 | 0.7 | 0 |
| NZDUSD.fx | 1.5 | 0.9 | 0.2 |
| ... | ... | ... | ... |
CFDs on Shares basically have a spread between 0.03 and 1.0 and charge a commission of 0.10%.
| Title | Symbol | Fixed Spread | Commission |
| AA Alcoa, Inc. | #AA | 0.03 | 0.10% |
| AAL ANGLO AMERICAN PLC | #AAL | 1 | 0.10% |
| AAL American Airlines Group Inc. | #AAL | 1 | 0.10% |
| AAPL Apple Inc. | #AAPL | 0.152 | 0.10% |
| AIG American International Group, Inc. | #AIG | 0.03 | 0.10% |
| AMZN Amazon.com Inc. | #AMZN | 0.12 | 0.10% |
| AXP American Express | #AXP | 0.03 | 0.10% |
| ... | ... | ... | ... |
Spot Metals maintains a spread between 34 and 57 with no fees.
| Title | Symbol | Lot | ForexMart Classic/Cent Average spread | ForexMart Classic/Cent Fee | ForexMart Pro Average spread | ForexMart Pro Fee | ForexMart Zero Spread Average spread | ForexMart Zero Spread Fee |
| Gold vs US Dollar (100 oz) | GOLD.m | 100 ounces | 34 | 0 | 29 | 0 | 34 | 0 |
| Silver vs US Dollar (500 oz) | SILVER.m | 500 ounces | 57 | 0 | 52 | 0 | 56 | 0 |
| Gold vs US Dollar (500 oz) | XAUUSD.m | 500 ounces | 34 | 0 | 29 | 0 | 34 | 0 |
| XPD vs US Dollar (100 oz) | XPDUSD.m | 100 ounces | 38 | 0 | 38 | 0 | 38 | 0 |
Cryptocurrency spreads remain between 50 and 29,761, with a 0.10% fee.
| Title | Symbol | Spread | Fee |
| BCHUSD | BCHUSD | 335 | 0.10% |
| #Bitcoin | #Bitcoin | 19167 | 0.10% |
| #Ethereum | #Ethereum | 1326 | 0.10% |
| #Litecoin | #Litecoin | 170 | 0.10% |
| #Ripple | #Ripple | 50 | 0.10% |
| Uniswap | Uniswap | 258 | 0.10% |
| Chainlink | Chainlink | 29761 | 0.10% |
| Filecoin | Filecoin | 760 | 0.10% |
| ... | ... | ... | ... |
The energy spread is between 24 and 63.
| Title | Symbol | Group | ForexMart Classic Average Spread | ForexMart Pro Average Spread | ForexMart Cent Average Spread |
| Natural Gas | NG.z | Energy | 34 | 24 | 34 |
| Crude Oil | CL.z | Energy | 63 | 46 | 63 |
| Brent Crude Oil | BRENT.z | Energy | 45 | 35 | 45 |
Index spreads range from 60 to 1850 with no fees.
| Title | Index | ForexMart Classic Average spread | ForexMart Classic Fee | ForexMart Pro Average spread | ForexMart Pro Fee | ForexMart Cent Average spread | ForexMart Cent Fee |
| Standard & Poor's 500 Index | SPX500 | 110 | 0 | 60 | 0 | 110 | 0 |
| Deutsche Boerse AG German Stock Index | DAX40 | 170 | 0 | 170 | 0 | 170 | 0 |
| Financial Times Stock Exchange 100 Index | UK100 | 200 | 0 | 150 | 0 | 200 | 0 |
| Japan 225 Index | JP225 | 1850 | 0 | 1800 | 0 | 1850 | 0 |
| The Dow Jones Industrial Average | DJ30 | 400 | 0 | 273 | 0 | 400 | 0 |
| Nasdaq 100 Index | NASDAQ100 | 180 | 0 | 130 | 0 | 180 | 0 |
| ... | ... | ... | ... | ... | ... | ... | ... |
Trading Platform
ForexMart provides an online forex trading platform for traders to use.
| Trading Platform | Supported | Available Devices | Suitable for |
| Online Forex Trading Platform | ✔ | Desktop | All traders |
| MT4 | ❌ | ||
| MT5 | ❌ |
Deposit and Withdrawal
There are 8 deposit methods at ForexMart: Skrill, NETELLER, PayCo, Fasapay, Bitcoin, Bitcoin Cash, Tether, and Local Bank. Most methods take less than 24 hours to process.
The same 8 withdrawal methods, but will charge a certain fee.
| Method | Fees | Processing Time |
| Skrill | No fees | 24 hours |
| NETELLER | No fees | 24 hours |
| PayCo | - | Instant |
| Fasapay | - | Instant |
| Bitcoin | - | 24 hours |
| Bitcoin Cash | - | 24 hours |
| Tether | - | 24 hours |
| Local Bank | - | 24 hours |
| Method | Fees | Processing Time |
| Skrill | System fee: 1% | 1-7 working days |
| NETELLER | Transaction fee - 2%, min fee: 1.00 USD, max fee: 30.00 USD | 1-7 working days |
| PayCo | - | 48 hours |
| Fasapay | - | 48 hours |
| Bitcoin | Transaction fee - fixed fee 0.0002 BTC + fixed fee 2 USD | 48 hours |
| Bitcoin Cash | Transaction fee - fixed fee 0.001 BCH + fixed fee 2 USD | 48 hours |
| Tether | Transaction fee - 1% | 48 hours |
| Local Bank | Transaction fee - 3% | 24 hours |
Keywords
- 5-10 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- United Kingdom European Authorized Representative (EEA) Revoked
- High potential risk
News
News Review about ForexMart! Find out it’s a good choice or not ?
ForexMart is a global forex broker that offers various trading instruments and account types. It was founded in 2015 and is registered in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CYSEC). The company provides access to forex currencies, futures contracts for stocks, precious metals, and other trading instruments.
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News ECB keeps intrigue on monetary policy
Members from the European Central Bank have issued a cautionary statement to investors. Those anticipating that the bank won't increase the interest rate the following week should be aware that this matter isn't settled yet, and there's still the possibility that the rate may raise.
2023-09-08 18:04
News Oil prices rise amid news of production cuts
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2023-07-17 15:37
Review 9
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Anzo招代理+Anzotrade
Hong Kong
The withdrawal that I applied for has not arrived for a long time. I ask the customer service and they say that it is under processing. On March 25th, it was said that the BCH could not be paid due to technical reasons. The application for withdrawal was rejected. The funds were returned to the MT4 account, and I was asked to withdraw with BTC. 3% handling fee (the fee displayed on their official website for BTC withdrawal is 0.0002 bitcoin + 2 USD handling fee) I recognize this, and I have deducted 3% of the withdrawal fee. It’s useless and I’ve been dragging and perfunctory customers. I can only expose it here. I opened an account and made a transaction when you saw that the information on this platform is regulated. I hope your Wiki platform can help customers to withdraw money, thank you. .
Exposure
2022-03-28
Anzo招代理+Anzotrade
Hong Kong
The withdrawal applied for on March 10 has not yet been received, and the transaction account has been debited. Their official website says that the account will be processed within 24 hours. I contacted customer service and they kept telling me to wait while processing. It's been over ten days and it hasn't arrived.
Exposure
2022-03-22
FX3699186947
Vietnam
Everyone be careful with ForexMart. This platform charges sky high. It must be said that it is exorbitant. It's okay to trade with a loss, but when you have a small profit and withdraw, they take it and that clause to arbitrarily deduct all profits. Withdrawal takes a long time.
Exposure
2022-03-22
FX2566123048
Indonesia
The slippage becomes 23 from 15.
Exposure
2021-03-26
ARI
Indonesia
Hit the TP but the position wasn't closed
Exposure
2021-03-02
FX7820384142
Indonesia
As long as we made handsome profits, the platform would give no access to the withdrawal. For example: If you earned $350, but you could only withdraw $555. I don’t know how they calculated.
Exposure
2020-05-28
FX2229959655
Hong Kong
After I deposited fund in this fraud platform,the whole customer service disappeared.The withdrawal hasn’t been received for 15 days.The MT4 account is 58029469.
Exposure
2019-10-08
Claire18709
Peru
I just deposited some funds and I haven't opened any position, and just at that moment I saw that in wikifx many users here declare that it is a fraud platform! So I decided to withdraw my funds, but the forexmart people stated that because I haven't made any trades, they charge me a non-trading fee for my withdrawals... I know some brokers require it, but I really DON'T LIKE such a fee. .
Neutral
2022-11-18
张宴鑫
United Kingdom
One of the best trading companies ever! Safe fast and secure ... I had a great time with them. I highly recommend it, thank you! I have a good experience!
Positive
2023-02-21