ForexMart Review 2021
United States not accepted.
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|ForexMart Facts & Figures|
ForexMart is an EU-regulated broker offering MT4 trading on stocks, FX and cryptos.
|Bonus||30% welcome bonus (non-EU traders only)|
|Instruments||Forex, shares, indices, commodities, cryptocurrency|
|Min. Deposit||1 EUR/USD|
|Payment Methods||Alipay, Cashu, Credit Card, HUMBL Pay, Neteller, Skrill, Sofort, Visa, Wire Transfer|
|Min. Trade||0.01 lots|
|USD, EUR, GBP|
|Start leveraged CFD trading on the financial markets.|
|FTSE Spread||0 fixed|
|Oil Spread||0 fixed|
Trade on an excellent range of popular and emerging forex pairs.
Trade cryptocurrencies against the US Dollar with 1:2 leverage.
|Coins||BTC, BCH, ETH, LTC, XRP|
ForexMart offers the MT4 desktop, mobile and web terminal on several competitive accounts. If you want to login and trade with ForexMart, our broker review explores the key features, including leverage, minimum deposits and bonus deals. We’ll also cover regulations and security, to help you determine if ForexMart is safe or a scam.
ForexMart is a brand name of Instant Trading EU Limited, a forex and CFD broker based in Cyprus. The company has been in operation since 2015 and holds a CIF license with the Cyprus Securities and Exchange Commission (CySEC). ForexMart also holds a sponsorship deal with HKM Zvolen, a Slovakian ice hockey team.
In addition to building its reputation, ForexMart is committed to providing a secure and competitive service to clients. Users can trade on currency pairs, indices, shares, commodities and cryptocurrencies, with access to award-winning software and daily market analysis.
MT4 Trading Platform
ForexMart offers the renowned MetaTrader 4 (MT4) platform, a powerful and user-friendly trading tool used by millions worldwide. The system allows traders to track several charts simultaneously, trade directly from the chart and manage multiple orders. Features include:
- Over 40 technical analysis indicators
- 9 separate time intervals
- Customisable interface
- Live pricing feed
- History of trades
You can download the ForexMart MT4 platform directly from the broker’s website, once you have completed the account registration process. The web-based version of the platform is available for non-EU clients only.
There are over 150 online trading instruments available at ForexMart, including:
- Forex – 108 major, minor and exotic currency pairs including EUR/USD and USD/JPY
- Shares – 43 CFD contracts with global companies including Apple and Microsoft
- Cryptocurrencies – 5 digital currencies including Bitcoin and Ripple
- Commodities – Spot gold and silver, plus crude oil and natural gas
- Indices – 7 popular indices including FTSE 100 and NASDAQ
Spreads & Commission
Pricing varies depending on what instrument you are trading and is determined by the six different account types on offer. Floating spreads in the Classic account are around 1.2 pips for major forex pairs such as EUR/USD, whilst Pro account spreads average around 0.8 pips for the same pair.
Commission-free trading is also available on forex but the Zero Spread account charges between 0.02% and 0.07%. There is also a 0.10% commission on CFD shares and cryptocurrencies, a $10 fee per lot on indices and $40 per lot on energies.
The maximum leverage available at ForexMart EU is 1:30 on major forex pairs. FX minors, indices and spot metals are available up to 1:20, energies up to 1:10, CFD shares up to 1:5 and cryptocurrencies up to 1:2. Non-EU clients can leverage up to 1:500.
ForexMart delivers the MT4 mobile app for Android and iPhone users. As with the online desktop platform, the mobile cabinet boasts some impressive features, including real-time quotes, technical analysis tools, financial news and a full set of trade orders. The advanced functionality also allows users to customise and configure their charts in just a few taps.
ForexMart offers a good range of deposit methods, including cards, bank transfer, e-wallets and Bitcoin deposits. Note that some payment systems may be unavailable in certain regions. Most methods are processed either instantly or within 24 hours and ForexMart does not charge any deposit fees. PayPal is not available.
The online brokers offers a competitive minimum deposit of just 1 Euro / US Dollar, making it a good option for beginners.
Most of the same methods are available for withdrawals and are usually processed within 24 hours. ForexMart does charge withdrawal fees, however. Card withdrawal fees are 1.8% + 0.05 EUR, Skrill and B2B Pay are charged from 1%, Sofort and bank wire from a minimum of 5 EUR and Neteller from 1 USD.
ForexMart offers a demo account where you can trade with up to a $500,000 virtual balance. The demo account is ideal for new or experienced traders who want to learn FX trading or improve skills in a risk-free environment.
As per strict regulations around trading bonuses in the EU, ForexMart does not offer any deals at this time. This includes any no deposit bonus deals, welcome bonus promotions or demo contest opportunities.
You may find the occasional offer on the non-EU site, however, including a 30% welcome bonus. Make sure to check the bonus terms and conditions for details.
Instant Trading EU Ltd is a Cyprus Investment Firm (CIF), regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 266/15. CySEC ensures that CIF firms follow strict financial guidelines in accordance with EU law, including client money protection through the Investor Compensation Fund. ForexMart also offers negative balance protection.
Note, the non-EU website accepts traders from around the world, including Canada, Indonesia and Malaysia, but regulatory protection is limited.
ForexMart offers a modest range of education resources, including daily market analysis and economic news. There’s also an interactive economic calendar and a forex calculator, plus a trading glossary. In addition, the broker offers free VPS hosting for traders who meet certain eligibility requirements. For non-EU clients, there’s also a social and copytrade tool that allows you to connect with other users and replicate successful trading strategies.
ForexMart offers 6 live account types: Classic, Pro, Cents, Zero Spread, Scalping and Standard. Note that only the Classic, Pro, Cents and Zero Spread accounts are available for non-EU clients.
Each account offers certain characteristics and conditions to suit different trading strategies. For example, the Zero Spread and Scalping accounts are only for trading forex symbols. The minimum lot size is 0.01 across all accounts and minimum deposits range from €1 for the Zero Spread account to €1,000 for the Pro account.
ForexMart also offers Islamic swap-free accounts, which are available upon written request.
There are several reasons to trade with ForexMart:
- Good funding options with Bitcoin deposits
- Commission-free trading available
- Negative balance protection
- Spreads from zero pips
- Copytrade services
There could be improvements in some areas:
- No web terminal for EU clients
- Limited non-forex instruments
- Limited additional tools
- No choice of platforms
Trading times vary and depend on the asset traded. For example, trading hours for CFD shares are 15:30 – 22:00 GMT+2 (GMT+3 DST) Monday to Friday. You can find specific trading sessions in the MT4 platform, by clicking on the instrument in Market Watch.
There are plenty of ways to get in touch with ForexMart, including telephone and email, as well as live chat services via Facebook, Skype or Whatsapp. The customer support team is available from 08:00 to 17:00 UTC +2.
- Telephone – +357 25 057 236
- Email – email@example.com
- Address – Instant Trading EU Ltd, Spetson 23A, Leda Court, Block B, Office B203, 4000 Mesa Geitonia, Limassol, Cyprus
The MetaTrader 4 platform is the world’s most trusted trading software, which adheres to the highest security standards to protect data exchange. This includes SSL encryption codes as well as RSA digital signatures. In addition, users have the option to apply two levels of login security.
ForexMart offers some good trading opportunities with various account types, starting from a low $1 minimum deposit. Traders also benefit from a range of good deposit and withdrawal options, as well as CySEC regulation. However, other than MT4 there’s no choice of trading platforms, which might deter some professional traders.
ForexMart accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use ForexMart from United States, Korea, Sudan, Cuba, Syria.
Alternatives to ForexMart
If you are looking for alternatives to ForexMart we have compiled a list of the top 5 brokers that are similar to ForexMart below. This list of brokers like ForexMart is in order of similarity and only includes companies that accept traders from your location.
- EagleFX – EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
- Exinity – Exinity provides flexible low-cost trading in FX, commodities, indices and equities alongside unique education and support provided by teams located across the world. Now operating in the Middle East, through regulation from the Financial Services Regulatory Authority in Abu Dhabi and the Financial Services Commission of Mauritius, Exinity provides a range of services to traders and investors looking for new opportunities in the financial markets.
- Rockfort Markets – Rockfort Markets is a New Zealand broker with a competitive range of assets, trading platforms and market conditions.
- Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.
- LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
Is ForexMart a scam?
ForexMart is an authorised and regulated firm in the EU and is transparent with its pricing and services on the website. It is unlikely to be a scam, but it’s worth checking online reviews for clarity.
Does ForexMart offer a no deposit bonus in 2021?
ForexMart EU currently does not offer any deposit bonus deals, but traders can check the non-EU website for any future deals.
Is ForexMart regulated?
ForexMart EU is regulated by the Cyprus Securities and Exchange Commission (CySEC), under license number 266/15.
How do I open a ForexMart account?
You can register for an account by filling in the short registration form on the website. Once you have verified your identity, you will then be able to log straight into the trading cabinet area via your client or partner login.
Is ForexMart available in Asia?
Yes, ForexMart offers is services to several countries in the Asia region, including Indonesia, Malaysia and Singapore.
Can I trade with ForexMart from Canada?
Yes, clients from Canada are accepted at ForexMart.com. Note that US clients are not accepted.
|ForexMart is an EU-regulated broker offering MT4 trading on stocks, FX and cryptos.|
ForexMart vs Other Brokers
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