In this ForexMart Review, we are going to take a look at the offer that this broker prepared for its traders. ForexMart operates on the financial market since 2015. When it comes to trading platforms, the broker features WebTrader and MetaTrader 4. The ForexMart minimum deposit is 1 USD.
Between 74-89% of retail investor accounts lose money when trading CFDs You should consider whether you can afford to take the high risk of losing your money
Basic information from this ForexMart Review
Website address: | forexmart.com |
Operated by: | Tradomart SV Ltd. |
Licensed and authorised by regulatory bodies: | SVGFSA |
Supported languages: | English, German, Spanish, French and Portuguese |
Customer support available via: | E-mail, phone, live-chat |
Contact details: | [email protected], +44 203 5751 513 |
Available deposit methods: | Bank transfer, VISA, MasterCard, Alipay, FasaPay, Neteller, PayCo, Qiwi, Skrill, UnionPay |
Available withdrawal methods: | Bank transfer, VISA, MasterCard, Alipay, FasaPay, Neteller, PayCo, Qiwi, Skrill, UnionPay |
Minimum deposit: | 1 USD |
Min. trade in lots: | 0.01 |
Spreads: | Typical spread on the currency pair EUR/USD - 1,5 pips * on standard account type |
Tradable assets: Might be a CFD. | Forex (105), cryptocurrencies (65) |
Mobile app: | |
MetaTrader 4: | |
Other trading platforms: | WebTrader |
Maximum leverage: The maximum available leverage can be limited by local financial regulators or by international regulations, in such case, the displayed maximum leverage may not match the leverage you can actually trade with. For instance, in the European Union, the financial regulator ESMA restricts the maximum available leverage to 1:30 when trading major currency pairs, 1:20 when trading minor pairs and commodities and 1:2 when trading cryptocurrencies. Similar restrictions apply in Australia and possibly in other jurisdictions. | 1:500 |
Social trading: |
ForexMart Fees (typical spreads)
We have scanned fees (typical spreads) that ForexMart charges when trading popular currency pairs, here is their breakdown in pips.
EUR/GBP | EUR/USD | USD/CHF | EUR/JPY | GBP/USD | USD/JPY |
---|---|---|---|---|---|
2,4* | 1,5* | * | 7,3* | * | 8,9* |
*Typical spreads were recorded on 17.01.2020 at 21:27 for the standard account. ForexMart spreads in the table above serve as illustrative examples only as they for instance, may change according to the market conditions.
Random reviews of competing FX & CFD brokers: Xtrade, INGOTBrokers, Purple Trading and CryptoAltum
Frequently Asked Questions
🧐 Is ForexMart a Scam?
In accordance with our research, ForexMart is a broker licensed and regulated by the SVGFSA. While it is a good thing that the broker is regulated, the SVGFSA regulatory agency is in comparison to 1st tier regulatory bodies like the CySEC one of the weaker regulatory authorities when it comes to investor protection. In order to be sure that ForexMart is not a scam, read our trader reviews and check other popular trading related websites and forums.
🆓 What is the ForexMart minimum deposit?
In order to start trading with ForexMart, you have to deposit at least 1 USD.
📵 What deposit and withdrawal methods ForexMart supports?
⚖️ Would you recommend me choosing ForexMart?
We don’t have our own personal experience with ForexMart. However, the broker is regulated by the SVGFSA which does not provide as strong protection to traders as 1st tier regulatory bodies (Like the British Financial Conduct Authority). Considering that there are hundreds of brokers with stronger regulation and quite highly possibly with better trading conditions too, it makes little to no sense to trade with ForexMart.
Should you be looking for a highly reliable broker featuring forex trading and CFDs, you can get your hands on our marketing broker Etoro – (77% of of retail investor accounts lose money when trading CFDs with this provider), which is a CySEC regulated company that allows trading from as little as $50 and charges highly competitive fees on all assets.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs
You should consider whether you can afford to take the high risk of losing your money ¹ Variable spreads, spreads recorded for the EUR/USD on 11.01.2024 at 11:42 GMT.