ForexMart Spreads, leverage, minimum deposit Revealed
WikiFX | 2024-10-22 16:10Abstract：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 |
| Registered Country/Region | Saint Vincent and the Grenadines |
| Regulation | Unregulated |
| 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 |
| Min Deposit | $15 |
| Customer Support | Phone: +44 2 030 976 697 |
| Email: info@forexmart.com | |
| Social media channel: Facebook, Twitter | |
ForexMart Information
Established in 2015, ForexMart is an unregulated brokerage company registered in Saint Vincent and the Grenadines. This firm provides a swath oftradable instruments. ForexMart gives four live trading accounts and one demo account.
Pros and Cons
| Pros | Cons |
| Wide selection of investment options | Lack of regulatory oversight |
| Multiple account types (Classic, Pro, Cents, and Zero Spread) | Charging withdrawal fees |
| Acceptable Minimum Deposit Amount ($15) | Limited information on trading platform |
| Tight Spreads starting from 0.0 pips | |
| Demo Account Available |
Is ForexMart legit?
ForexMart operates without regulation from any recognized financial authority.
What Can I Trade on ForexMart?
With ForexMart, you can make a diversified portfolio in 5 asset classes, including Forex, CFDs on Shares, Spot Metals, Cryptocurrencies, Energy, and Indices. ForexMart provides more than 100 market instruments.
This firm provides trading in precious metals like gold and silver, as well as energy commodities such as oil and natural gas. You can also invest in popular global indices like the S&P 500 and FTSE 100 and cryptocurrencies such as Bitcoin and Ethereum.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Metals | ✔ |
| Shares | ✔ |
| Indices | ✔ |
| Energies | ✔ |
| Cryptocurrencies | ✔ |
| Bonds | ❌ |
| Options | ❌ |
| Mutual Funds | ❌ |
| ETFs | ❌ |
Account Types
ForexMart offers four live trading account types, including Classic, Pro, Cents, and Zero Spread. The bright side of this approach is that you can pay less in fees the more you invest. If you invest at least $200, you will get spreads from 0.6 pips and commission-free forex trading. The minimum deposit of Classic and Cents accounts is both as low as $15. A demo account is also available here.
| Account Type | Classic | Pro | Cents | Zero Spread |
| Minimum Spread | 1 pips | 0.6 pips | 1 pips | 0.0 pips |
| Average Spread | 1.2 pips | 0.8 pips | 1.2 pips | 0.2 pips |
| Commissions | No commissions | No commissions | No commissions | Commission from $6 |
| Minimum Deposit | $15 | $200 | $15 | $500 |
| Minimum Lot | 0.01 | 0.01 | 0.1 (cent lots) | 0.01 |
| Order Execution | Market | Market | Market | Market |
Leverage
ForexMart provides varying leverage options depending on the account types:
| Account Type | Max Leverage |
| Classic | 1:3000 |
| Pro | |
| Cents | |
| Zero Spread | 1:200 |
ForexMart Fees
ForexMart offers different spreads and commission structures across its 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 |
For traders seeking the lowest spreads available, the Zero Spread account offers spreads starting from 0.0 pips, but it does charge a commission of $6 per trade.
Deposit & Withdrawal
ForexMart offers multiple deposit and withdrawal methods. You can fund your account through Skrill, Neteller, Payco, FasaPay, Bitcoin, and Tether with no commission. Most deposit methods require 24 hours to process.
ForexMart charges withdrawal fees on all transaction methods. You need to pay 1% with Skrill, Payco, FasaPay and Tether. The fees of Bitcoin and Bitcoin Cash are both a fixed fee of 0.001 BCH plus $2.
Deposit Options
| Deposit Options | Min. Deposit | Fees | Processing Time |
| Skrill | Not mentioned | No Commission | Within 24 hour |
| Neteller | Not mentioned | No Commission | Within 24 hour |
| PayCo | Not mentioned | No Commission | instant |
| FasaPay | Not mentioned | No Commission | instant |
| Bitcoin | Not mentioned | No Commission | Within 24 hour |
| Bitcoin Cash | Not mentioned | No Commission | Within 24 hour |
| Tether | Not mentioned | No Commission | Within 24 hour |
| Local Bank | Not mentioned | 3% | Within 24 hour |
Withdrawal Options
| Withdrawal Options | Min. Withdrawal | Fees | Processing Time |
| Skrill | Not mentioned | 1% system fee | 1-7 working hours |
| Neteller | Not mentioned | 2%, min $1, max $30 | 1-7 working hours |
| PayCo | Not mentioned | 1% | Within 48 hours |
| FasaPay | Not mentioned | 1% | Within 48 hours |
| Bitcoin | Not mentioned | Fixed fee 0.001 BCH + $2 | Within 48 hours |
| Bitcoin Cash | Not mentioned | Fixed fee 0.001 BCH + $2 | Within 48 hours |
| Tether | Not mentioned | 1% | Within 48 hours |
| Local Bank | Not mentioned | 3% | Within 24 hours |
Latest News
ASIC Sues Binance Australia Derivatives for Misclassifying Retail Clients
WikiFXWikiFX Review: Is FxPro Reliable?
WikiFXMalaysian-Thai Fraud Syndicate Dismantled, Millions in Losses Reported
WikiFXTrading frauds topped the list of scams in India- Report Reveals
WikiFXAIMS Broker Review
WikiFXThe Hidden Checklist: Five Unconventional Steps to Vet Your Broker
WikiFXRussia to Fully Ban Crypto Mining in 10 Regions Starting January 1, 2025
WikiFXYAMARKETS' Jingle Bells Christmas Offer!
WikiFXWhy is there so much exposure against PrimeX Capital?
WikiFXDoo Financial Expands Regulatory Reach with Offshore Licenses in BVI and Cayman Islands
WikiFXRate Calc
