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ForexMart – Broker Review and Trader Feedback 2020

4.2 / 5

ForexMart, a Cyprus based brokerage company, is providing its clients with high-quality trading services since 2015. The company’s work is tested by time and many clients of this broker note its reliability and profitable conditions for online-trading. Moreover, ForexMart is regulated by CySEC and is a member of the ICF (Investor Compensation Fund).

General Information

ForexMart is a part of Instant Trading EU Ltd, operating in two arms. The first arm, ForexMart.eu, operates in the European Economic Arena and under its jurisdiction. It is regulated by CySEC (license number 266/15). The other arm, ForexMart.com, is an international business corporation registered in Saint Vincent and the Grenadines. Each arm has its own web-site. So, the company is fully regulated and protects clients’ accounts against any fraudulent activity.

Advantages and Disadvantages

  • Regulation: one of the main ForexMart advantages is its reliability and providing maximum protection for client funds. Whatever branch of the broker you choose, they are both regulated by all international rules. Moreover, the company is a partprovides each client with the opportunity to insure the deposit, since it is a member of the ICF.
  • Assets: The company has an extensive range of currency pairs (60+) and other trading assets, such as: CFDs on shares, cryptocurrencies, spot metals, energy and indices.
  • Trading Platform: ForexMart utilizes the most popular and user-friendly MetaTrader 4 trading platform, which provides the full range of tools that a trader needs for trading comfortably. The company also offers a free MT4 mobile app, which offers the same tools and features as the web-based platform.
  • Spreads & Commissions: ForexMart offers one of the lowest spreads on the Forex market (from 0.0 pips). Moreover, the company doesn’t charge a commission when trading most of the instruments provided, including major currency pairs. Also, the broker requires no deposit or withdrawal fees.
  • Copy Trading system: Forexmart offers to take advantage of automated trading, using the Copy Trading System – the service, which allows to trade by copying transactions and trading strategies of the most successful traders in real time. It’s a really good additional income.

Trading Conditions

The trading conditions of the company comply with all the rules of European regulation. The wide variety of trading accounts and instruments allows any trader to find something appropriate.
The conditions are really good: there is an opportunity to trade on Islamic accounts, and minimum deposit of $1 / €1 is a good start for every beginner.

Underlying Assets

Forexmart offers a wide list of trading instruments, including over 60 Forex pairs with floating and fixed spread, CFDs on shares, spot metals and cryptocurrencies (Bitcoin, Litecoin, Ethereum, Ripple).

Trading Platform

One of the advantages of ForexMart is the work on the MetaTrader4 trading platform. MT4 allows the user to carry out trading operations with maximum comfort. Terminal MT4 provides a diverse range of functions and tools: an extended package for charting, various technical indicators and a number of Expert Advisors (EAs).

Mobile Trading

The company also has a ForexMart mobile application supporting both Demo accounts and Live trading. The app is available free of charge, for both Android and iOS devices. The mobile application allows for fast, easy access to the market wherever you have a cell connection.

Demo Account

ForexMart has a wide list of account types to offer. And in order for the client to choose the optimal type for his trading style, the company provides the opportunity to use a demo account. A demo account is provided for each type of a real one and allows to start trading using virtual cash. So, using demo accounts, one can hone trading skills without any risk and completely free.

Account Types

The broker offers its customers 4 types of accounts with conditions suitable for various trading strategies. The maximum leverage is 1:500. Leverage when trading cryptocurrency – 1:2. Leverage for GOLD.m and SILVER.m trading is 1:100.

ForexMart Classic – this account is the most popular among traders and it suits for classic Forex trading best of all. To start using this account type, it is necessary to make an initial deposit of minimum $15. The average spread – 1.2 pips.

ForexMart Pro – this type is perfect for professional well-qualified traders, who knows the “pitfalls” of online-trading. The minimum initial deposit is $200, the average spread – 0.8 pips.

ForexMart Cents – this account will interest beginner traders who want to trade on a live account without risking big money. Experienced traders can use Cents account to work out trading strategies with minimal risks. The minimum deposit is $15, the average spread – 1.2 pips. It is also suitable for automated trading.

ForexMart Zero Spread – this is only type of account which involves a commission of 0,02%-0,07% and offers instant execution of orders. Minimum deposit is only $1 and the spread is fixed (0 pips).

Opening an Account

In order to open a real account, the client just need to visit the ForexMart website and click “Open trading account” on the homepage. During the registration process, the client must provide personal data, select the trading settings for the account and confirm the creation. The account must be verified before starting trading. Accounts can be funded with USD, EUR, GBP or RUB.

Funds Withdrawal

Withdrawals are easy and guaranteed by CySEC. Moreover, ForexMart does not charge deposit fees for withdrawals. But it should be noted, that commissions of payment systems may be charged. The following payment systems are available: Bank transfer, Visa, MasterCard, Skrill, Neteller, UnionPay, Alipay, PayCo, Bitcoin.

Trader Training

ForexMart doesn’t offer investor-training, but it gives various useful training materials for self-study. Having studied the appropriate section of the company’s website (Tools), everyone can gather everything necessary for successful work in the foreign exchange markets. For example, an economic calendar and daily economic news and analytical reviews will allow traders to stay tuned on current and important events in the financial world. Moreover, there are education brochure and FAQ sections, which cover general questions.

Should I trade with ForexMart?

Despite being relatively young, ForexMart is a well-regulated broker, quickly becoming known for being a reliable trading firm. The broker offers the high-class trading software and profitable conditions for trading, protects clients’ accounts against any fraudulent activity and gives a variety of trading tools. So, if you are looking for a basic broker with optimal trading conditions for daily trading, this one is what you need.

1 comment:

  1. avatar
    james
    29/05/2020

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    5/5

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ForexMart – Broker Review and Trader Feedback 2020

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