ForexMart Review 2024 with Rankings By Dumb Little Man

ForexMart Review

Copy traders are always looking for reliable brokers to partner with, and ForexMart could be one of the best. With a rich history of over 8 years in the online trading industry, they provide a reliable, secure, and easy-to-use trading platform for traders of all levels.

ForexMart offers the MetaTrader 4 platform for trading along with the web and mobile versions. You’ll also appreciate their low-cost trading fees, competitive spreads, and reliable customer service. In addition, ForexMart has been active since 2015 and is regulated by the Cyprus Securities and Exchange Commission (CySEC), providing customers with secure transactions and a comfortable trading environment.

But is ForexMart the right broker for you? Our expert review team will evaluate this broker’s services, fees and features, customer support, security, and other aspects to help you decide. Read on to learn more about our ForexMart review for the year 2024.

What is ForexMart?

Established in 2015, ForexMart is the brand name of Instant Trading EU Limited, a Cyprus-based forex and CFD broker with a CIF license from CySEC. Moreover, this business has established itself as an esteemed partner to HKM Zvolen, a Slovakian ice hockey team that proudly bears their sponsorship agreement with ForexMart.

This broker offers limited trading opportunities on instruments like Forex, CFDs on Shares, Spot Metals, and Cryptocurrency. It also provides its own web-based trading platform in addition to the popular MT4 & MT5 platforms.

Establishing a reputable name and secure service are the two cornerstones of ForexMart’s mission. In addition, clients have access to the most competitive trading environment ensuring maximum returns on investments. For clients outside the EU, a revolutionary social and copy trade tool allows you to connect with other traders and duplicate their successful trading strategies.

ForexMart provides a comprehensive selection of educational resources, daily market analysis, and economic news. Moreover, traders can access an interactive economic calendar, a forex calculator, and a helpful glossary with key terms for reference. If that weren’t enough, ForexMart offers free VPS hosting for traders who meet specific criteria — giving you the perfect platform to grow.

Safety and Security of ForexMart

Instant Trading EU Ltd is proudly regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 266/15. Furthermore, as a Cyprus Investment Firm (CIF), our financial practices comply with stringent EU legal regulations and the Investor Compensation Fund for client money protection.

Moreover, ForexMart offers a negative balance protection feature to ensure that your trading account never goes into the red. This feature is a must-have for traders, allowing them to trade without worrying about losing more money than they have in their accounts. ForexMart also uses advanced SSL encryption to protect client data and the latest firewall technology to keep your funds safe and secure.

After every deposit to their account, the Client has the right to receive a 30% bonus courtesy of the Company. This bonus will be added one week after each successful transaction.

Sign Up Bonus of ForexMart

ForexMart offers a signup bonus of 30% once the user makes their first deposit. This bonus is designed to give traders an extra boost to their trading capital, allowing them to trade more with less risk. However, the bonus will be added one week after a successful transaction, so traders should know the wait times.

Remember that the promotion is only available to new accounts, and traders can open unlimited accounts with this sign-up promotion offer. Moreover, this sign-up bonus offer is available on ForexMart Pro and ForexMart Zero Spread accounts.

Minimum Deposit of ForexMart

The minimum deposit of ForexMart is not fixed; traders have to deposit a minimum amount that varies according to the plan they select. Below are the details of various plans of ForexMart:

• Classic Account: $15
• Pro Account: $200
• Cents Account: $15
• Zero Spread: $500

Moreover, ForexMart doesn’t charge any deposit fee. However, the payment systems can charge some fees while processing your payments.

Account Types

ForexMart has four different types of live accounts to choose from:

#1. Classic Account

This account is suitable for beginners and professionals alike. It offers flexible leverage up to 1:500 and spreads as low as 1.4 pips. Moreover, a minimum deposit of $15 is required to open this account.

• Minimum Deposit: $15
• Minimum Spread: 1
• Average Spread: 1.2
• Min lot: 0.01
• Leverage: 1:500

#2. Pro Account

This account is best for professionals and experienced traders, with a floating spread starting from 0.6 pips and leverage up to 1:500. Moreover, a minimum deposit of $200 is required to open this account.

• Minimum Deposit: $200
• Minimum Spread: 0.6
• Average Spread: 0.8
• Min lot: 0.01
• Leverage: 1:500

#3. Cents Account

This is an ideal account for beginner traders with a minimum balance requirement of just $15 and the ability to start trading with a minimum lot size of 0.1 or 1 cent per pip.

• Minimum Deposit: $15
• Minimum Spread: 1
• Average Spread: 1.2
• Min lot: 0.1
• Leverage: 1:500

#4. Zero Spread Account

This account offers the minimum spreads of 0 pips and leverage options of 1:200. There is also a minimum balance requirement of $500.

• Minimum Deposit: $15
• Minimum Spread: 0.0
• Average Spread: 0.2
• Min lot: 0.01
• Leverage: 1:200

#5. Demo Account

ForexMart also offers a free Demo Account to let users practice their trading skills before making any real investments. The Demo Account can be used with a virtual balance of $50,000 and real-time prices and market conditions. This is a great way for traders to test strategies and techniques before investing real money.

By offering these four different account types, ForexMart ensures something for everyone. So whether you’re a seasoned trader or brand new to the forex market, there’s an account type that will fit your needs.

ForexMart Customer Reviews

Our team of review experts has reviewed the customer feedback of ForexMart and found that most people are satisfied with their services. People appreciate fast deposits and withdrawals, competitive spreads, and excellent Forexcopy systems. The customer support staff is also acclaimed for their helpful and friendly attitude.

We have also seen a few negative reviews where customers complain about the long waiting times for withdrawals, slow customer support, and lack of proper account management tools. However, these reviews are a bit old, and there have been a lot of improvements since then.

ForexMart Spreads, Fees, and Commissions

Below are the in-depth details of ForexMart spreads, fees, and commissions:

ForexMart Spreads

Depending on your account type, trading instrument, and current market conditions, ForexMart offers varying spreads and commission fees. Below is the overview of the average spreads offered by ForexMart:

Classic Account

• Minimum Spread: 1
• Average Spread: 1.2

Pro Account

• Minimum Spread: 0.6
• Average Spread: 0.8

Cents Account

• Minimum Spread: 1
• Average Spread: 1.2

Zero Spread Account

• Minimum Spread: 0.0
• Average Spread: 0.2

ForexMart Fees

ForexMart doesn’t charge any deposit or withdrawal fees. However, the payment system used may charge additional fees for processing transactions. Moreover, there is no inactivity fee.

ForexMart Commissions

ForexMart doesn’t charge any commission fee on Cent, Pro, or Classic accounts. However, zero accounts commission starts from $6 per lot.

Deposit and Withdrawal

ForexMart doesn’t charge any fees on deposits and withdrawals. They accept different payment methods like Credit/Debit cards, Skrill, Neteller, Payco, FasaPay, Bitcoin, Bitcoin Cash, Tether, and Local Banks.

Most deposit methods like Visa, Skrill, Neteller, Bitcoin, Bitcoin cash, Tether, and local banks can take up to 24 hours to reflect in your account. However, the FasaPay and Payco deposits are instant.

Likewise, withdrawals are also made instantly or with a short processing time. Again, it all depends on your payment methods, but generally, it can take up to 48 hours to reflect in your account.

However, the payment systems may charge the transaction fee, which will be calculated separately. You can check out the fees charged by the different payment methods by visiting the Deposits and Withdrawals section.

How To Open a ForexMart Account – Step by Step Guide

Below is the step-by-step guide to opening an account on ForexMart:

• Go to the official website of ForexMart and click on ‘Register’ in the left corner.
• In the personalized account section, choose between individual or corporate accounts.
• Add your name, country of residence, phone number, and additional information about your address.
• In the next screen, choose between the four different accounts.
• Now choose the currency and leverage you wish to use and click on ‘Submit’.’
• On the next screen, you can see your account details and login screen.
• Click on ‘Deposit Funds’ and start trading.

Moreover, you need to verify your ForexMartaccount. For that, you can submit your passport, ID, and proof of residence. Verification is required to make any withdrawals from your account.

ForexMart Affiliate Program

ForexMart doesn’t offer any affiliate program, but this broker offers four different partner types of programs to help their clients earn more money by gaining commission by referring new traders. Below are the details of all four programs:

Introducing Broker

This program is designed to help affiliates or individuals who refer customers to ForexMart and get a commission in return. They offer one of the best commission plans in the market with 24/5 support, marketing material, and much more.

Online partner

This program is designed for people who own a website and run online businesses. They offer attractive banner ads, real-time tracking of your referrals, and more.

CPA

This program is designed for individuals who can bring new customers to ForexMart and get a one-time commission. On the initial deposit, the affiliates can earn a commission based on the amount.

Friend-Referrer

This program is for people who can bring new customers to ForexMart and get a commission for each referred customer. The commission will be based on the total trading volume of the referred customers.

ForexMart Customer Support

ForexMart offers 24/5 customer support for all its clients. There are several options to contact their support, like email, WhatsApp, Telegram, Viber, Skype, and more. Just choose your preferred method, and you can get help from their support team. They also offer a live chat option on their website for quick answers to your queries.

In addition, you can also request a callback function to get a call from the support team. Also, they provide support in multiple languages, including Italian, English, Portuguese, Romanian, Arabic, Russian, Spanish, Czech, Chinese, French, German, Hebrew, and more. The customer support staff is very helpful and friendly so you can expect prompt solutions for all your queries.

Contact Details

• Telephone: +357 25 057 236
• WhatsApp: 35795176938
• Skype: support_forexmart
• Email: [email protected]
• Address – Instant Trading EU Ltd, Spetson 23A, Leda Court, Block B, Office B203, 4000 Mesa Geitonia, Limassol, Cyprus

Advantages and Disadvantages of ForexMart Customer Support

ForexMart Vs. Other Brokers

Here is an in-depth analysis of the ForexMart with some other brokers:

#1. ForexMart vs AvaTrade

AvaTrade is a popular broker for all professional traders who want to monetize across the worldwide financial market. Since its establishment in 2005, this broker has provided an amazing trading portfolio. In addition, its easy-to-use interface has enabled investors to generate more revenue from this broker in a limited time.

When we compare ForexMart with AvaTrade, it is observed that AvaTrade takes an upper edge on ForexMart because of the availability of forex exchange, stocks, cryptocurrencies, indices, and other assets. For instance, three financial services, along with the Central Bank of Ireland, and MiFID, perform a key role in regulating AvaTrade.

On the other hand, ForexMart provides the opportunity of MT4 on accounts of different devices like mobile, laptop, and others. Moreover, it offers secure and competitive services with high liquidity, making it a great choice for traders. Therefore, both are reliable brokers, but AvaTrade has the advantage of offering more options to traders.

If you are seeking a safe and trusted trading solution, AvaTrade broker should be your go-to option. Not only does it provide more excellent trading chances than ForexMart, but it also offers extensive asset exchange services and dependable customer support.

#2. ForexMart vs RoboForex

RoboForex is a much-loved online trading platform providing traders with exceptional financial services. Among the top exchanges, this broker uses are Cryptocurrency, Forex Trading, CFDs, and other valuable possessions — all of which can be accessed at any time.

RoboForex is regulated by the Cyprus Securities and Exchange Commission and The FSC of St. Vincent and Grenadines, making it a reliable broker for users to enjoy secure trading services. This superb broker supplies three various trading accounts, Pro-cent, Prime, and ECN accounts, each offering unique features that perfectly facilitate traders’ needs.

When you compare ForexMart with RoboForex, you will find that both brokers are known for providing superior services to their users. However, the RoboForex is slightly better regarding the trading instruments it offers. For instance, it provides more than 15 Cryptocurrencies and supports over 1000 different assets for trading, while ForexMart has limited options in this regard.

Both brokers are reliable for forex trading and the exchange of other financial assets. The only factor that gives RoboForex a slight trading edge over ForexMart is the availability of multiple assets and account types. So, if you are looking for a safe and reliable trading platform, RoboForex is your best option. It provides not only comprehensive trading tools but also offers dependable customer support.  So, consider RoboForex as your go-to broker for a secure trading experience.

#3. ForexMart vs. FXChoice

FXChoice is a trusted ECN broker founded in 2010, offering retail traders from nearly every part of the world great trading conditions and low commission rates. With FXChoice, you can access various assets such as stocks, indices, crypto-currency, metals commodities, and energies — plus forex and CFD.

In addition, FXChoice is regulated by the Financial Services Commission of Belize (FSC) and the International Financial Services Commission of Belize (IFSC). This makes it a safe trading platform for its users. Moreover, this broker offers a wide range of trading accounts, including Standard, ECN, and Zero Spread Accounts.

When we compare ForexMart with FXChoice, it is observed that both brokers offer numerous financial services along with low spreads and reliable customer support. However, FXChoice has the edge over ForexMart regarding its range of financial assets and trading accounts. This broker provides more than 250 instruments for trading, including forex, stocks, and indices, with tight spreads starting from 0 pips and a flexible leverage of 1:200.

For those looking for a reliable broker to trade with, FXChoice is the best choice. It provides great trading conditions and offers competitive spreads and commission rates. So, consider FXChoice as your go-to broker for a secure trading experience.

Choose Asia Forex Mentor for Your Forex Trading Success

If you have a keen interest in establishing a successful career in forex trading and aspire to achieve substantial financial gains, Asia Forex Mentor stands as the optimal choice for the best forex, stock, and crypto trading course. Ezekiel Chew, renowned as the visionary behind trading institutions and banks, is the driving force behind Asia Forex Mentor. On a personal note, Ezekiel consistently achieves seven-figure trades, a distinction that truly sets him apart from other educators in the field. Here are the compelling reasons that underpin our recommendation:

Comprehensive Curriculum: Asia Forex Mentor offers an all-encompassing educational program that covers stock, crypto, and forex trading. This well-structured curriculum equips aspiring traders with the knowledge and skills necessary to excel in these diverse markets.

Proven Track Record: The credibility of Asia Forex Mentor is firmly established through its impressive track record of producing consistently profitable traders across various market sectors. This achievement serves as a testament to the effectiveness of their training methodologies and mentorship.

Expert Mentors: At Asia Forex Mentor, students benefit from the guidance and insights of experienced mentors who have demonstrated remarkable success in stock, crypto, and forex trading. These mentors provide personalized support, enabling students to navigate the intricacies of each market with confidence.

Supportive Community: Joining Asia Forex Mentor brings access to a supportive community of like-minded traders pursuing success in the stock, crypto, and forex markets. This community fosters collaboration, idea-sharing, and peer learning, enhancing the overall learning experience.

Emphasis on Discipline and Psychology: Success in trading necessitates a strong mindset and disciplined approach. Asia Forex Mentor provides crucial psychological training to help traders manage emotions, handle stress, and make rational decisions during trading.

Constant Updates and Resources: The financial markets are dynamic, and Asia Forex Mentor ensures that students remain up-to-date with the latest trends, strategies, and market insights. Continuous access to valuable resources keeps traders ahead of the curve.

Success Stories: Asia Forex Mentor takes pride in a multitude of success stories where students have transformed their trading careers and achieved financial independence through their comprehensive forex, stock, and crypto trading education.

In summary, Asia Forex Mentor emerges as the premier choice for those seeking the best forex, stock, and crypto trading course to carve a rewarding career and achieve financial prosperity. Through its comprehensive curriculum, experienced mentors, practical approach, and supportive community, Asia Forex Mentor provides the necessary tools and guidance to mold aspiring traders into accomplished professionals across diverse financial markets.

Conclusion: ForexMart Review

ForexMart is considered a trustworthy, reliable, and low-risk broker that offers leverage from 1:500, fixed spreads from 0.2 pips, minimal lot of 0.01 lots, and a minimum deposit of $15 to $500, depending on the account type you are choosing. Moreover, they offer four partner programs to help you earn more and 24/5 customer support in multiple languages.

ForexMart offers traders a range of trading accounts to explore, including Classic, Pro, Cent, and Zero spread options, plus the helpful demo account. Additionally, they provide free VPS and market news updates and analyses that can give you an edge in your daily trading experience.

With the limited trading instruments, lack of bonuses, and limited hedging capabilities, some traders may not find this broker the best fit.  That being said, ForexMart is still a great choice for those looking for tight spreads, low commissions, and top-notch customer service. Overall, ForexMart is a viable option for any trader, whether they are new to trading or experienced.

ForexMart Review FAQs

Can ForexMart be trusted?

ForexMart can be trusted as it is regulated by CySEC and has been operating since 2015. With a spread of 0.3 pips and leverage up to 1:500, ForexMart is one of the leading and trustworthy brokers in the market. Moreover, it offers secure transactions and advanced trading tools for its clients. So you can trust ForexMart for your online forex trading.

How long does ForexMart withdrawal take?

The withdrawal time of ForexMart depends on the payment method you are using. Below are the details of the withdrawal time:

• Credit/Debit card: Within 48 hours
• Skrill: 1-7 hours
• Neteller: 1-7 hours
• Payco: Within 48 hours
• FasaPay: Within 48 hours
• Bitcoin: Within 48 hours
• Bitcoin Cash: Within 48 hours
• Tether: Within 48 hours
• Local bank: Within 24 hours

How much is the ForexMart withdrawal fee?

• The withdrawal fee depends on the payment methods you are using to withdraw funds:
• Skrill System fee: 1%
• Neteller: Transaction fee – 2%, min fee: 1.00 USD, max fee: 30.00 USD.
• Bitcoin: Transaction fee – fixed fee 0.0002 BTC + fixed fee 2 USD
• Bitcoin Cash: Transaction fee – fixed fee 0.001 BCH + fixed fee 2 USD
• Tether: Transaction fee – 1%
• Local Banks: Transaction fee – 3%