- Website: www.forexmart.com
- Support: +44 2030 340874
- Office address:
- Shamrock Lodge
- Murray Road, Kingstown
- St. Vincent & The Grenadines
ForexMart Broker Review
Our ForexMart review explores an accomplished Forex broker that offers you the change to trade a plethora of global assets. This includes over 100 currency pairs, shares via the CFD market, cryptocurrency via the CFD market, and both gold and silver.
Their wide range of instruments makes them a great choice both experienced Forex traders and traders who are looking to diversify their portfolio. When you trade with ForexMart, you also have access to some of the industry’s leading trading platforms, where you can use various trading tools and robots on both mobile and desktop.
Our ForexMart review team found this broker to be the best for high volume trading at low-value costs. Continue reading to discover why.
ForexMart is owned by Tradomart SV Ltd., which is registered in St. Vincent and the Grenadines. The company started in 2015 and is still a growing entity. Although young, we found that the broker still offers a complete trading experience. This can be seen in the sheer amount of assets they offer, which includes currency pairs, cryptocurrencies, and CFDs.
Our broker review team found that ForexMart is currently in the process of expanding its geographic footprint. At the moment, they offer their services to a number of European and Asian countries. It should be noted that they do not offer trading in the US, North Korea, Cuba, Sudan, Syria, and handful of other regions around the world.
ForexMart regulation and licensing
ForexMart.com is regulated by a number of well-respected authorities, including CySec. Their certifications can be found under the umbrella company Tradomart SV Ltd., and they are aiming to become regulated by more authorities in the future.
As per CySec rules, ForexMart traders are covered by the Investor Compensation Fund. This means that your capital is always kept in segregated accounts and cannot be used for company operations or trades. It also means that, should the broker become insolvent, you are covered for up to $22,000.
Our review of ForexMart found that the broker offers four different account types to International clients, and five different account types for EU traders.
The Classic account is, as the name suggests, the most popular choice for most traders. This account has a minimum spread of one pip and a minimum deposit of just $15. It’s also commission-free, making it perfect for all most every type of trader.
The ForexMart Cents account functions almost identically to the Classic account. In fact, the entry barrier is the same, however, it offers cent lots. Due to this, our review team found that this ForexMart account is ideal for beginners.
You can also choose to sign up to the Pro account, which has a minimum deposit of $200 for international clients, or $1,100 for EU clients. In return for a higher minimum deposit limit, you are offered a minimum spread of 0.6 pips and no commission fees.The broker also offers the Zero Spread account, which means that there is a fixed zero pip spread, with a minimum deposit of $1.00 to open the account. There is a 0.02% minimum commission that extends to the 0.07% on the high-end. These are extraordinarily small commissions and can save the trader a ton of money over the longer-term.
EU clients can also benefit from the ForexMart scalping account. This has a minimum deposit of $111, and a minimum spread of zero pips.
There are also opportunities to open up a demo account, which allows traders to practice their trading strategies and see how the platform functions. Beyond that, ForexMart also offers an Islamic swap-free account for those who need to do so for religious purposes.
ForexMart trading costs
As mentioned previously, most trading is facilitated via the spread and costs are quite low in that sense. The spreads are tight, which saves the average retail trader quite a lot of money.
ForexMart.com charges absolutely no fees for deposits. In fact, this broker even goes as far as reimbursing any deposit costs that customers incur from their payment provider. There are, however, fees for withdrawals. These vary depending on which payment method you use, yet none cost over 2.5%.
Considering all of that, our reviewers found that your trading costs at ForexMart are minimal, especially compared to other similar brokers.
ForexMart payment methods
ForexMart.com offers you the choice of several different payment methods, including bank transfer, Visa, MasterCard, Skrill, Neteller, PayCo, fasaPay, Qiwi, Union Pay, and AliPay.
In order to deposit to your account, you simply go to your client area, login, and then click the method of payment you choose. All deposits are processed within 24 hours, apart from wire transfers which take between 2 and 4 working days.
You can also withdraw via the methods mentioned above. Withdrawals are generally processed within 48 hours, yet those made via wire transfer will still take between 2 and 4 working days. If you want a faster cash-out option at ForexMart, our reviewers recommend you choose Neteller or Skrill. These e-wallet services allow you to withdraw within 7 hours.
ForexMart trading bonuses
ForexMart offers a generous bonus to all new international traders. It is credited to you when you make your first deposit and provides you with an excellent opportunity to explore everything the broker has to offer.
Unfortunately, this bonus is not available to EU traders due to regulations.
ForexMart trading platforms
Our ForexMart reviewers found the broker’s site to be intuitive. Before you register, you can find all the information you need with ease, such as account types, payment options, and available tools.
Opening an account with ForexMart is also straightforward. You can do so within minutes but do note that you will need to verify your account before you can start trading. You can do this by supplying the broker with proof of identity, such as a passport or other ID document.
Once you’ve registered with the broker, you will have access to one of the world’s most popular trading platforms, MetaTrader 4. This is a huge benefit for both beginner traders, as MT 4 is easy to use, and seasoned traders, who are likely to already be familiar with the platform. MetaTrader 4 allows you to use robots and offers over 40 technical indicators.
If you don’t want to download the MetaTrader 4 desktop platform, you can also trade via ForexMart for Web Terminal. This is also powered by MT 4 and can be launched from your internet browser. You can place all types of orders on this platform yet it’s worth noting that this version doesn’t come with all of the same tools as MetaTrader 4.
Our ForexMart broker review team were pleased to discover that the site runs well on mobile devices. Although it’s not as easy to navigate as on desktop, it’s still quick to load. This makes checking news and real-time quotes easy, and you also have access to all the broker’s educational materials when on-the-go too.
As ForexMart uses MetaTrader 4, you can also trade when and where you want using the MT 4 mobile app. This is available on both iOS and Android devices and has long been considered the best mobile Forex trading platform around. Even on mobile, the charting platform is top-notch and can run the same type of indicators that you can on the desktop.
Education and training
Our reviewers were a little disappointed by the education and training facilities at ForexMart. The broker offers a glossary of terms, a short video for beginner traders, and instructions on how to load an EA onto the trading platform. Unfortunately, they do not offer webinars or longer video guides.
Although their learning services may be inadequate for complete beginners, ForexMart does offer a range of other tools, such as news, market analysis, and an economic calendar. These are very useful for all types of traders as keeping on top of global events can give you insight into which way to trade.
ForexMart customer support
ForexMart.com offers plenty of support through various channels. You can get in touch with the broker via email, phone, WhatsApp, Skype, telegram and Viber. You can also request a callback, and all support options are available 24/5.
During our review of ForexMart, we reached out to the broker’s customer support agents several times. We consistently found that our queries would be answered thoroughly and quickly, which is exactly what you want from a trustworthy Forex broker.
ForexMart – Our verdict
Although ForexMart is relatively new to the industry, our reviewers found that they are already delivering an impressive experience. They offer hundreds of markets, account types suited to all types of traders, and access to the industry’s best trading platforms.
Overall, we’d recommend ForexMart to both beginner and veteran traders, and everyone in between. Whilst the broker’s educational resources are limited, the free demo account and low minimum deposit limits are perfect for those looking to practice their trading. More experienced traders will also love the fact that they access the CFD market, use robots and benefit from low fees.
Sign up to ForexMart via desktop, mobile or tablet now to start trading with a reliable and competent broker.
Is ForexMart a regulated broker?
Yes, ForexMart is regulated by several well-respected authorities, including CySec and SVGFSA.
What account types does ForexMart offer?
ForexMart offers several account options, each suited to different trading styles. You can choose from the Classic, the Cents, the Pro and the Zero Spread account. The broker also offers demo accounts and Islamic accounts available.
Does ForexMart offer a bonus?
ForexMart rewards all new international clients with a generous welcome bonus. This is available when you make your first deposit at the site. Unfortunately, traders within the EU cannot benefit from this bonus due to regulations.
What is the minimum deposit at ForexMart?
At ForexMart, you can open a live account and start trading with as little as $1.
Is ForexMart secure?
ForexMart is a well-regulated and trustworthy broker. All client funds are held in segregated accounts and protected by insurance policies. The site itself utilizes SSL encryption technology to protect your data and all payments are made via secure banking methods.