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ForexMart -

Score

1.58 /10
Danger

ForexMart

Saint Vincent and the Grenadines

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

United Kingdom European Authorized Representative (EEA) Revoked

High potential risk

https://www.forexmart.com

Influence

C

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Comparison

Quantity 7

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index7.55

Risk Management Index0.00

Software Index4.00

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Regulatory disclosure

Danger

MY SCM
2023-01-01
INVESTOR ALERT LIST
ForexMart

Broker Information

More

Company Name

Tradomart SV Ltd

Company Abbreviation

ForexMart

Platform registered country and region

Saint Vincent and the Grenadines

Company website

X

Facebook

WhatsApp

  • 441303767210

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 6
Previous Detection : 2025-02-02
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 6 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

Exposure

7 pieces of exposure in total
Pyramid scheme complaint
Expose
Others

ForexMart

The slippage becomes 23 from 15.

2021-03-26 21:08
Others

The withdrawal in this fraud platform hasn’t been received for 15 days.

After I deposited fund in this fraud platform,the whole customer service disappeared.The withdrawal hasn’t been received for 15 days.The MT4 account is 58029469.

2019-10-08 19:33
Scam

The platform arbitrarily deducts all profits and charges exorbitant fees

Everyone be careful with ForexMart. This platform charges sky high. It must be said that it is exorbitant. It's okay to trade with a loss, but when you have a small profit and withdraw, they take it and that clause to arbitrarily deduct all profits. Withdrawal takes a long time.

2022-03-22 09:47
Unable to Withdraw

ForexMarket deos not withdraw for customer service

The withdrawal that I applied for has not arrived for a long time. I ask the customer service and they say that it is under processing. On March 25th, it was said that the BCH could not be paid due to technical reasons. The application for withdrawal was rejected. The funds were returned to the MT4 account, and I was asked to withdraw with BTC. 3% handling fee (the fee displayed on their official website for BTC withdrawal is 0.0002 bitcoin + 2 USD handling fee) I recognize this, and I have deducted 3% of the withdrawal fee. It’s useless and I’ve been dragging and perfunctory customers. I can only expose it here. I opened an account and made a transaction when you saw that the information on this platform is regulated. I hope your Wiki platform can help customers to withdraw money, thank you. .

2022-03-28 11:30
Resolved

Hit the TP but the position wasn't closed

Hit the TP but the position wasn't closed

2021-03-02 00:31
Unable to Withdraw

Unable to withdraw

As long as we made handsome profits, the platform would give no access to the withdrawal. For example: If you earned $350, but you could only withdraw $555. I don’t know how they calculated.

2020-05-28 00:56
Unable to Withdraw

Expose ForexMart that does not withdraw

The withdrawal applied for on March 10 has not yet been received, and the transaction account has been debited. Their official website says that the account will be processed within 24 hours. I contacted customer service and they kept telling me to wait while processing. It's been over ten days and it hasn't arrived.

2022-03-22 12:08
    Data Source WikiFX Data provide
    Updated: 2025-02-02
    ForexMart · Company summary
    ForexMartReview Summary
    Founded2007
    Registered Country/RegionSaint Vincent and the Grenadines
    RegulationOffshore Regulated
    Market InstrumentsForex, Spot Metals, Indices, Cryptocurrencies, Energies, CFDs on Shares
    Demo Account✅
    LeverageUp to 1:300
    SpreadFrom 0.0 (EUR/USD)
    Trading PlatformOnline Forex Trading Platform
    Min Deposit$15
    Customer SupportPhone: + 442 030 976 697
    Email: support@forexmart.com
    Social Media: Facebook, Twitter

    ForexMart Information

    ForexMart is a broker incorporated in Saint Vincent and the Grenadines in 2007. The trading instruments it provides are mainly Forex, Spot Metals, Indices, Cryptocurrencies, Energies, CFDs on Shares. In addition, there are 4 account types to choose from. However, the current regulatory status of the brokerage is relatively poor, holding 3 licenses: FCA revoked the license, CYSEC determined the regulatory status as suspected cloning, and FSC determined it was subject to offshore regulation.

    ForexMart Information

    Pros and Cons

    ProsCons
    The number of tradable instruments is largeThe regulatory status is poor
    4 kinds of accountsMT4/5 is not supported
    Can be traded without commission

    Is ForexMart Legit?

    Regulated Country/Region
    FCA
    FSC
    CYSEC
    Regulated AuthorityFCAFSCCYSEC
    Regulated EntityINSTANT TRADING EU LTDInstant Trading Ltd,Instant Trading EU Ltd
    License TypeEuropean Authorized Representative (EEA)Retail Forex LicenseMarket Making(MM)
    License Number728735SIBA/L/14/1082266/15
    Current StatusRevokedOffshore RegulatedSuspicious Clone
    Is ForexMart Legit?
    Is ForexMart Legit?
    Is ForexMart Legit?

    What Can I Trade on ForexMart?

    ForexMart offers 60+ forex pairs, 200+ CFDs on shares, 4 spot metals, 19 cryptocurrencies, 3 energies, 13 indices.

    Tradable InstrumentsSupported
    Forex✔
    Spot Metals✔
    Indices✔
    Cryptocurrencies✔
    Energies✔
    CFDs on Shares✔
    Bonds❌
    ETF❌
    What Can I Trade on ForexMart?

    Account Types

    The 4 types of ForexMart accounts are Classic, Pro, Cents, Zero and Spread. Their minimum deposit ranges from $15 to $500. Among them, the maximum leverage is 1:300.

    Account TypesClassicProCentsZero Spread
    Min Spread (pips)10.610
    Average Spread (pips)1.20.81.20.2
    CommissionsNo commissionsNo commissionsNo commissionsFrom $6
    Min Deposit$15$200$15$500
    Min Lot Size0.010.010.1 (cent lots)0.01
    Order ExecutionMarketMarketMarketMarket
    Max Leverage1:30001:30001:30001:200
    Margin Call30%30%30%30%
    Stop Out Level10%10%10%10%
    Max Open Trades500500500500
    Account Types

    ForexMart Fees

    The minimum spread for the four accounts ranged from 0 pips to 1 pips, and the average spread ranged from 0.2 pips to 1.2 pips. In addition, only Zero Account receives commission from $6, and the remaining accounts have no commission.

    The spread of EUR/USD in the forex pair is found to be the lowest 0.0 after comparing four kinds of accounts.

    SymbolForexMart Classic/Cent *SpreadForexMart Pro *SpreadZero Spread *Spread
    EURUSD.fx1.30.70
    GBPUSD.fx1.40.80.1
    USDJPY.fx1.40.80.1
    USDCHF.fx1.81.20.5
    USDCAD.fx1.610.3
    AUDUSD.fx1.30.70
    NZDUSD.fx1.50.90.2
    ............
    ForexMart Fees

    CFDs on Shares basically have a spread between 0.03 and 1.0 and charge a commission of 0.10%.

    TitleSymbolFixed SpreadCommission
    AA Alcoa, Inc.#AA0.030.10%
    AAL ANGLO AMERICAN PLC#AAL10.10%
    AAL American Airlines Group Inc.#AAL10.10%
    AAPL Apple Inc.#AAPL0.1520.10%
    AIG American International Group, Inc.#AIG0.030.10%
    AMZN Amazon.com Inc.#AMZN0.120.10%
    AXP American Express#AXP0.030.10%
    ............
    ForexMart Fees

    Spot Metals maintains a spread between 34 and 57 with no fees.

    TitleSymbolLotForexMart Classic/Cent Average spreadForexMart Classic/Cent FeeForexMart Pro Average spreadForexMart Pro FeeForexMart Zero Spread Average spreadForexMart Zero Spread Fee
    Gold vs US Dollar (100 oz)GOLD.m100 ounces340290340
    Silver vs US Dollar (500 oz)SILVER.m500 ounces570520560
    Gold vs US Dollar (500 oz)XAUUSD.m500 ounces340290340
    XPD vs US Dollar (100 oz)XPDUSD.m100 ounces380380380
    ForexMart Fees

    Cryptocurrency spreads remain between 50 and 29,761, with a 0.10% fee.

    TitleSymbolSpreadFee
    BCHUSDBCHUSD3350.10%
    #Bitcoin#Bitcoin191670.10%
    #Ethereum#Ethereum13260.10%
    #Litecoin#Litecoin1700.10%
    #Ripple#Ripple500.10%
    UniswapUniswap2580.10%
    ChainlinkChainlink297610.10%
    FilecoinFilecoin7600.10%
    ............
    ForexMart Fees

    The energy spread is between 24 and 63.

    TitleSymbolGroupForexMart Classic Average SpreadForexMart Pro Average SpreadForexMart Cent Average Spread
    Natural GasNG.zEnergy342434
    Crude OilCL.zEnergy634663
    Brent Crude OilBRENT.zEnergy453545
    ForexMart Fees

    Index spreads range from 60 to 1850 with no fees.

    TitleIndexForexMart Classic Average spreadForexMart Classic FeeForexMart Pro Average spreadForexMart Pro FeeForexMart Cent Average spreadForexMart Cent Fee
    Standard & Poor's 500 IndexSPX50011006001100
    Deutsche Boerse AG German Stock IndexDAX40170017001700
    Financial Times Stock Exchange 100 IndexUK100200015002000
    Japan 225 IndexJP225185001800018500
    The Dow Jones Industrial AverageDJ30400027304000
    Nasdaq 100 IndexNASDAQ100180013001800
    ........................
    ForexMart Fees

    Trading Platform

    ForexMart provides an online forex trading platform for traders to use.

    Trading PlatformSupportedAvailable DevicesSuitable for
    Online Forex Trading Platform✔DesktopAll traders
    MT4❌
    MT5❌
    Trading Platform

    Deposit and Withdrawal

    There are 8 deposit methods at ForexMart: Skrill, NETELLER, PayCo, Fasapay, Bitcoin, Bitcoin Cash, Tether, and Local Bank. Most methods take less than 24 hours to process.

    The same 8 withdrawal methods, but will charge a certain fee.

    MethodFeesProcessing Time
    SkrillNo fees24 hours
    NETELLERNo fees24 hours
    PayCo-Instant
    Fasapay-Instant
    Bitcoin-24 hours
    Bitcoin Cash-24 hours
    Tether-24 hours
    Local Bank-24 hours
    MethodFeesProcessing Time
    SkrillSystem fee: 1%1-7 working days
    NETELLERTransaction fee - 2%, min fee: 1.00 USD, max fee: 30.00 USD1-7 working days
    PayCo-48 hours
    Fasapay-48 hours
    BitcoinTransaction fee - fixed fee 0.0002 BTC + fixed fee 2 USD48 hours
    Bitcoin CashTransaction fee - fixed fee 0.001 BCH + fixed fee 2 USD48 hours
    TetherTransaction fee - 1%48 hours
    Local BankTransaction fee - 3%24 hours
    Deposit and Withdrawal
    Deposit and Withdrawal

    News

    NewsReview about ForexMart! Find out it’s a good choice or not ?

    ForexMart is a global forex broker that offers various trading instruments and account types. It was founded in 2015 and is registered in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CYSEC). The company provides access to forex currencies, futures contracts for stocks, precious metals, and other trading instruments.

    WikiFX
    2023-09-26 15:18
    Review about ForexMart! Find out it’s a good choice or not ?

    NewsAlarming Signals from Wall Street: How the Fed's Decision Tanked Stocks and Boosted Bond Growth?

    The recent occurrences on Wall Street have sparked significant concerns among investors. On the eventful Thursday, the market underwent an intense rollercoaster ride as investors promptly divested their stocks.

    WikiFX
    2023-09-25 12:14
    Alarming Signals from Wall Street: How the Fed's Decision Tanked Stocks and Boosted Bond Growth?

    NewsUSD/JPY to face explosive volatility as BOJ intervention looms

    Yesterday, the Federal Reserve sparked bullish momentum for the dollar, driving the USD/JPY pair to reach a fresh 10-month peak at 148.47.

    WikiFX
    2023-09-22 14:01
    USD/JPY to face explosive volatility as BOJ intervention looms

    NewsECB keeps intrigue on monetary policy

    Members from the European Central Bank have issued a cautionary statement to investors. Those anticipating that the bank won't increase the interest rate the following week should be aware that this matter isn't settled yet, and there's still the possibility that the rate may raise.

    WikiFX
    2023-09-08 18:04
    ECB keeps intrigue on monetary policy
    About More

    User Reviews

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    User comment

    10

    Comments

    Write a review

    DANIEL6448
    more than one year
    Scam, Scam, Unable to withdraw. You can use any strategy as long as you lose your money, but when you get some profit they used one of the clauses to take your profit, be careful because their terms and conditions foresee all possible ways to take your profit, they are scammers, stay away from this scam broker.
    Scam, Scam, Unable to withdraw. You can use any strategy as long as you lose your money, but when you get some profit they used one of the clauses to take your profit, be careful because their terms and conditions foresee all possible ways to take your profit, they are scammers, stay away from this scam broker.
    Translate to English
    2023-03-22 21:00
    1
    0
    0
    张宴鑫
    more than one year
    One of the best trading companies ever! Safe fast and secure ... I had a great time with them. I highly recommend it, thank you! I have a good experience!
    One of the best trading companies ever! Safe fast and secure ... I had a great time with them. I highly recommend it, thank you! I have a good experience!
    Translate to English
    2023-02-21 12:08
    1
    0
    0
    7