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.

Is ForexMart Legit？

ForexMart is currently regulated by the Cyprus Securities and Exchange Commission (Regulation No. 266/15), the UK Financial Conduct Authority (Regulation No. 728735), and the Virgin Islands Financial Services Commission Offshore (Regulation No. SIBA/L/14/1082). However, the CYSEC regulation (license number: 266/15) claimed by this broker is suspected to be a clone. Please be aware of the risk!

Market Instruments

ForexMart offers a variety of options to suit different trading strategies, including forex, shares, indices, spot metals, energy, and cryptocurrency. The Classic Account offers floating spreads of around 1.2 pips for major forex pairs like EUR/USD, while the Pro account boasts tighter spreads averaging around 0.8 pips for the same pair. Both accounts are commission-free.

Account Types

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.

Spreads & Commissions

The minimum spread for Classic accounts is 1 pip, the average spread for Natural Gas is 34 pips and for Crude Oil is 63 pips with no commission. The minimum spread for Pro accounts is 0.6 pips, the average spread for Natural Gas is 24 pips and for Crude Oil is 46 pips, with no commission. The minimum spread for cent accounts is 1 pip, the average natural gas spread is 34 pips, and the crude oil spread is 63 pips with no commission. Forex trading commission for Zero account is $20 per lot, the spread for gold is 80 pips and for silver is 40 pips.

Trading Platform

ForexMart provides traders with access to the industry-leading MetaTrader 4 trading platform. This platform offers a comprehensive range of features that empower traders to effectively analyze the market and execute trades.With MetaTrader 4, users can effortlessly track multiple charts, execute trades directly from the charts, and efficiently manage multiple orders. The platform is user-friendly and can be easily installed without any cost. It supports various trade size allocation methods, allowing traders to customize their trading strategies.

Deposit & Withdrawal

ForexMart welcomes a variety of deposit and withdrawal methods, including VISA (no fees for deposits, 2.5% + 3.5 EUR/USD transaction fee for withdrawals), MasterCard (no fees for deposits, 2.5% + 3.5 EUR/USD transaction fee for withdrawals), Skrill (1% fee for withdrawals), NETELLLER (2% transaction fee deducted for withdrawals, minimum $1, maximum $30), PayCo, FasaPay, UnionPay (2.5% transaction fee deducted for withdrawals), Alipay (2.5% transaction fee deducted for withdrawals), Bitcoin (0.0002 bitcoin + $2 fee deducted for withdrawals).

Customer Support

ForexMart provides multiple channels for contacting their support team. You can reach them through telephone or email, as well as engage in live chat via Facebook, Skype, or Whatsapp. The customer support team operates from 07:00 to 16:00 GMT.

Telephone: +442 030 976 697

Email: support@forexmart.eu

Address: Instant Trading EU Ltd, Spetson 23A, Leda Court, Block B, Office B203, 4000 Mesa Geitonia, Limassol, Cyprus

Pros & Cons

Conclusion

In conclusion, ForexMart is a global forex broker that offers a range of trading instruments and account types to suit different trading strategies. Some advantages of ForexMart include good funding options with Bitcoin deposits, commission-free trading, and negative balance protection. However, there are also limitations such as the absence of a web terminal for EU clients, a limited range of non-forex instruments, limited additional tools, and no choice of platforms. Traders should carefully consider these factors when deciding to trade with ForexMart. Furthermore, it's important to note that the legitimacy of ForexMart's claimed regulation by CYSEC (license number: 266/15) is suspected to be a clone, so caution is advised.

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