ForexMart Broker Review 2024

ForexMart, founded in Saint Vincent and the Grenadines, is a regulated Forex and CFD broker operating under SVG FSA supervision.

This broker offers 4 main account types, including Classic, Pro, Cent, and Zero Spread, to traders in 120 countries.

ForexMart Broker Company Information & Regulation

ForexMart has positioned itself as a well-known Forex trading partner, offering over 100 tradable instruments and comprehensive educational materials to empower traders on their trading journey. The company's commitment to excellence is evident in its regulatory status and operational practices:

• Regulation: ForexMart is authorized and regulated by Saint Vincent ans the Grenadines Financial Authority (SVG FSA). This ensures adherence to strict financial standards and client fund protection.
• Client Fund Safety: In line with regulatory requirements, ForexMart segregates client funds from its own assets, providing an additional layer of security for traders' investments.
• Global Reach: While based in Saint Vincent and the Grenadines, ForexMart serves clients worldwide, offering a truly international trading experience.
• Awards & Recognition: The broker has received multiple accolades for its trading conditions and customer service, cementing its position as a reputable player in the forex industry.

ForexMart Specifications Table

Let’s have a quick glimpse of ForexMart’s offerings:

ForexMart Broker Account Types Overview

ForexMart offers a variety of account types to suit different trading styles and preferences. Each account type comes with its own set of features and benefits:

All account types offer commission-free trading (except for the Zero Spread account), access to the MT4 platform, and a wide range of tradable instruments. ForexMart also provides a demo account option, allowing traders to practice their strategies risk-free before committing real capital.

Advantages and Disadvantages of ForexMart Broker

Just like any other broker, ForexMart has its own pros and cons. Let’s review them together:

ForexMart Sign Up & Verification

Opening an account with ForexMart is a straightforward process. Follow these steps to get started:

1. Visit the ForexMart website and click on the "Open Trading Account" button;
2. Enter your personal details;

3. Choose your account type, base currency, and leverage;
4. Copy your account information for logging the client cabinet;
5. Head to the account verification tab;
6. Upload proof of ID verification document (Obligatory);
7. Upload proof of address verification document (Optional).

Trading Platforms and Applications of ForexMart

ForexMart offers the industry-standard MetaTrader 4 (MT4) platform, renowned for its powerful features and user-friendly interface. Here are the available devices:

Desktop Version:

• Advanced charting capabilities with multiple timeframes
• Over 50 built-in technical indicators and analytical tools
• Customizable interface with drag-and-drop functionality
• Expert Advisors (EAs) for automated trading
• One-click trading for fast execution

Web Version:

• Access your account from any browser without downloads
• Real-time quotes and interactive charts
• Full set of trading orders and execution modes
• Compatible with Windows, Mac, and Linux operating systems

Mobile Version:

• Available for iOS and Android devices
• Push notifications for important market events
• Full trading functionality on the go
• Customizable charts and technical analysis tools

Links:

• Android
• iOS

ForexMart Broker Fees Overview (Spreads and Commissions)

ForexMart offers competitive trading conditions, including low spreads and transparent fee structures:

It's important to note that spreads are variable and may widen during times of high market volatility or low liquidity.
Other ForexMart fees:

• No inactivity fee
• No deposit fee
• Charges withdrawal fee based on the payment method

ForexMart Broker Deposit & Withdrawal Methods

ForexMart offers a variety of deposit and withdrawal options to cater to its global client base:

 This wide variety let traders choose the method that is most convenient to them.

ForexMart Copy Trading & Investment Options Overview

ForexMart provides a copy trading feature, allowing less experienced traders to mirror the strategies of successful traders:

• Social Trading Platform: Integrated within the MT4 platform
• Strategy Providers: Experienced traders can become signal providers
• Risk Management: Customize risk levels and allocation per copied trade
• Performance Metrics: Detailed statistics on strategy providers' performance
• Automatic Execution: Trades are copied in real-time to followers' accounts

ForexMart's copy trading feature offers an excellent opportunity for novice traders to learn from experienced professionals while potentially earning profits. However, it's crucial to remember that past performance doesn't guarantee future results, and all trading carries inherent risks.

Tradable Markets & Symbols in ForexMart Broker

ForexMart offers a diverse range of tradable instruments across various asset classes:

• Forex: Over 50 currency pairs
• Metals: Gold and Silver
• Energies: Crude Oil (WTI and Brent) and Natural Gas
• Cryptocurrencies: Bitcoin, Ethereum, Litecoin, Ripple and more
• Shares: CFDs on major US and European stocks
• Indices: S&P 500, NASDAQ, FTSE 100

ForexMart Bonuses

ForexMart offers several attractive bonuses and promotions to both new and existing clients:

30% Deposit Bonus:

• Available on every deposit
• Credited to the account within one week of deposit

No Deposit Bonus:

• Occasionally offered to new clients
• Allows trading with real money without initial deposit
• Up to $300

Affiliate Program:

• Earn commissions by referring new clients
• Competitive commission structure
• Marketing materials and support provided

Loyalty Program:

• Smart Dollar program
• Rewards long-term clients with special benefits

It's important to note that all bonuses and promotions are subject to specific terms and conditions. Traders should carefully review these terms before participating in any promotional offers.

ForexMart Broker Customer Support

ForexMart provides comprehensive customer support to assist traders with any queries or issues:

• Live Chat: available 24/5 on the website
• Email Support: info@forexmart.com
• Phone Support: +442030976697
• Whatsapp support: 441303767210

ForexMart is also used to support traders through Viber, but they currently don’t offer this method.

ForexMart Broker Restricted Countries

ForexMart, like many online brokers, is subject to regulatory restrictions and cannot offer its services to residents of certain countries, including:

• United States
• North Korea
• Syria
• Sudan

Always verify the most current information directly with ForexMart, as restrictions can change based on evolving regulatory landscapes.

ForexMart Broker User Reviews and Trust Scores

ForexMart's reputation among traders can be gauged through various review platforms and trust scores. Here's an overview:

• Trust score: 2.5 out of 5 on the Trustpilot website
• Number of reviews: 9

While ForexMart has a mix of positive and negative reviews, potential clients should conduct thorough research, considering both user experiences and the broker's regulatory status, before making a decision.

ForexMart Broker Education Materials

Despite ForexMart's focus on providing comprehensive trading services, the broker's educational offerings appear to be limited. This is an area where ForexMart could improve to better support its clients, especially newcomers to the forex market.

The only educational materials you can find on ForexMart are few market analysis, Forex brochure, and economic news.

TF Expert Suggestion

ForexMart aims to offer excellent trading services with spreads from 0.0 pip and leverage options up to 1:3000.

However, the high minimum deposit for Zero Spread accounts ($500) and up to 3% withdrawal commission might make this broker less attractive for many traders.