Abstract:ForexMart, short for Tradomart SV Ltd., is a global web-based brokerage registered in Saint Vincent and the Grenadines. It offers online trading services across diverse asset classes including Forex, CFDs on Shares, Spot Metals, Cryptocurrencies, Energy, and Indices. However, concerns exist due to the platform operating without regulatory oversight.
ForexMart Review Summary | |
Founded | 2015 |
Region/Country | Saint Vincent and the Grenadines |
Regulation | No regulation |
Market Instruments | Forex, CFDs on Shares, Spot Metals, Cryptocurrencies, Energy, Indices |
Demo Account | Available |
Leverage | Up to 1:3000 |
Spread | from 0.0 pips |
Trading Platform | Not mentioned |
Minimum Deposit | $15 |
Customer Support | Phone, address, email, live chat, social media |
ForexMart, short for Tradomart SV Ltd., is a global web-based brokerage registered in Saint Vincent and the Grenadines. It offers online trading services across diverse asset classes including Forex, CFDs on Shares, Spot Metals, Cryptocurrencies, Energy, and Indices. However, concerns exist due to the platform operating without regulatory oversight.
Pros | Cons |
Wide Range of Assets | Lack of regulatory oversight |
Multiple Deposit Methods | Limited Info on Trading Platform |
Acceptable Minimum Deposit Amount | |
Tight Spreads | |
Zero Commision for Most Accounts | |
Tiered Account Types | |
Demo Account Available |
When considering the safety of a brokerage like ForexMart or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:
In the end, choosing whether or not to engage in trading with ForexMart is an individual decision. We advise you carefully balance the risks and returns before committing to any actual trading activities.
ForexMart provides a wide array of more than 100 market instruments.
Clients can engage in Forex trading, accessing major currency pairs and crosses for global currency exchange.
Additionally, ForexMart offers CFDs on Shares, allowing investors to trade on the price movements of shares without owning the underlying assets.
For those interested in commodities, Spot Metals and Energy products are available, enabling trading in precious metals like gold and silver, as well as energy commodities such as oil and natural gas.
Furthermore, traders can participate in Index trading, which includes popular global indices like the S&P 500 and FTSE 100, offering opportunities to speculate on broader market movements.
Lastly, the platform supports trading in cryptocurrencies, providing access to digital assets such as Bitcoin and Ethereum.
ForexMart offers four main account types.
Account Type | Min Deposit |
Classic | $15 |
Pro | $200 |
Cents | $15 |
Zero Spread | $500 |
The Classic and Cents accounts require a minimum deposit of $15, making them accessible for new traders or those looking to start with smaller investments.
The Pro account, with tighter spreads, requires a higher minimum deposit of $200, suitable for more experienced traders seeking lower trading costs.
For those prioritizing ultra-low spreads, the Zero Spread account offers a higher minimum deposit of $500.
In addition, the company offers a demo account for traders to test their trading strategies in a risk-free environment without losing any real capitals.
ForexMart provides varying leverage options depending on the account type chosen:
Account Type | Max Leverage |
Classic | 1:3000 |
Pro | |
Cents | |
Zero Spread | 1:200 |
ForexMart offers different spreads and commission structures across it different account types.
Account Type | Min Spread | Average Spread | Commission |
Classic | 1 pip | 1.2 pips | None |
Pro | 0.6 pips | 0.8 pips | None |
Cents | 1 pip | 1.2 pips | None |
Zero Spread | 0.0 pips | 0.2 pips | From $6 |
The Classic account features a minimum spread of 1 pip and an average spread of 1.2 pips, with no commissions charged on trades. Similarly, the Cents account also offers a minimum spread of 1 pip and an average spread of 1.2 pips,without any commissions.
The Pro account provides tighter spreads, with a minimum spread of 0.6 pips and an average spread of 0.8 pips, also without commissions.
For traders seeking the lowest spreads available, the Zero Spread account offers spreads starting from 0.0 pips on average, but it does charge a commission starting from $6 per trade.
ForexMart offers an Economic Calendar, enabling traders to stay updated on key economic events and indicators that impact currency markets. This tool helps traders make informed decisions by providing insights into market-moving events such as interest rate decisions, GDP releases, and employment reports.
Additionally, ForexMart offers a Currency Converter Online tool, allowing traders to quickly convert between different currencies at current market rates.
Moreover, the Forex Trader Calculator offered by ForexMart helps traders accurately calculate essential trading parameters such as pip value, margin requirements, and profits or losses based on their trading positions.
ForexMart offers a Copy Trading feature, also known as Social Trading, designed to cater to both novice traders looking to learn and experienced traders seeking efficient time management. This innovative system allows users to replicate the trading activities of seasoned professionals within the ForexMart community.
By leveraging the Copy Trading platform, users can follow and automatically replicate trades executed by successful traders, benefiting from their expertise and strategies in real-time. This approach not only facilitates learning by observing market tactics but also enables passive income generation by mirroring profitable trading decisions.
ForexMart offers a variety of convenient payment methods.
Payment Method | Deposit Fees | Deposit Processing Time | Withdrawal Fees | Withdrawal Processing Time |
Skrill | None | Within 24 hours | 1% system fee | 1-7 working hours |
Neteller | 2%, min $1, max $30 | |||
PayCo | / | Instant | 1% | Within 48 hours |
FasaPay | ||||
Bitcoin | Within 24 hours | Fixed fee 0.001 BCH + $2 | ||
Bitcoin Cash | ||||
Tether | 1% | |||
Local Bank | 3% | 3% | Within 24 hours |
Deposits can be made through Skrill and Neteller with no fees, processed swiftly within 24 hours. PayCo and FasaPay deposits are instant.
For those preferring cryptocurrencies, deposits in Bitcoin, Bitcoin Cash, and Tether are processed within 24 hours, each with its own transaction fees and processing times specified.
Local bank transfers are also supported, albeit with a 3% transaction fee, processed promptly within 24 hours to facilitate seamless deposits.
ForexMart provides customer support through phone contact, email inquiries, live chat for immediate assistance, and engagement via social media platforms like Facebook and Twitter. Physical addresses are available for direct correspondence.
An FAQ section is also available for quick answers to general inquiries.
ForexMart offers a Forex Glossary with definitions for essential terms related to Forex trading. It serves as a valuable resource for both beginners and experienced traders, ensuring a comprehensive grasp of key concepts integral to navigating the Forex market effectively.
In conclusion, ForexMart provides a diverse range of online trading services encompassing Forex, CFDs on Shares, Spot Metals, Cryptocurrencies, Energy and Indices, catering to a global audience. However, concerns stem from the absence of regulatory oversight. For those prioritizing transparency and regulatory compliance, we advise exploring alternative platforms that uphold these standards.
No. The broker is currently under no valid regulation.
Yes, though ForexMart is not regulated by any authorities, but it offers low barrier of minimum deposit of $15 and competitive spreads.
ForexMart supports various deposit methods including Skrill, Neteller, Bitcoin, and local bank transfers.
$15.
Yes.
Yes, restricted regions are the United States of America, North Korea, Sudan, Syria and some other regions.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.