Review

ForexMart is the trading name of a Cyprus Investment Firm located in Limassol, Cyprus and regulated by the Cyprus Securities Exchange (CySEC). Last year, it was named by ShowFx World as the Best Broker in Europe 2015 and Most Perspective Broker in Asia 2015.

Accounts

There are two accounts at ForexMart—the Standard and the Zero Spread.  A minimum deposit of 1 USD is required to open either of the accounts and currencies in both can be in USD, EUR and GBP. The only difference in the two accounts is the spread of 2 pips that is charged for major currencies in the Standard account and the fee of 2 pips applied to major currency pairs in the Zero Spread account.

Leverage for both accounts range from 1:1 to 1:1000 and demo accounts are available.

Account Types Comparison
Account Types Comparison

All clients’ funds are separated from the company’s assets.

Features

ForexMart offers several types of partnership programs. The Friend Referrer allows referred friends to do most of the work and all the trader must do is promote ForexMart services to potential clients and make them trade in the company. When they generate profit, so does the trader.

ForexMart has designed different user-friendly, glitch-free widgets, as well as promotional materials, which can be integrated into any website and traders can take advantage of this when building their site.

Interested parties can choose to become an online partner, local online partner or local office partner all of which help generate extra income to a trader’s account.

Bonuses/Promotions

When a trader opens a ForexMart account and makes a deposit, he/she has the opportunity to get 30% of the total amount of money deposited. For example, if he deposits $100, a $30 bonus will be deposited in his account for a total balance of $130. The automatic system will generate the right amount of bonus.

The No Deposit Bonus program enables traders to test the trading platforms without experiencing any investment risk. All it takes is creating and validating an account. The bonus can be availed once and cannot be combined with other kinds of bonuses. Traders may receive a no deposit bonus of up to $150.

At the time of the writing of this review ForexMart was giving away VIP passes to watch UD Las Palmas play against the best European football teams at Gran Canaria Stadium. All active ForexMart clients were qualified to join the raffle. Each client automatically receives one (1) raffle entry and participants had to be 18 or older.

Also available when doing this review was an ongoing contest called the MoneyFall for demo account users only. All demo account holders were eligible to register for the contest and the total prize fund per week was $2000.  A starting balance of $5000 was necessary for the weekly contest where the first place winner received $650, 2nd prize was $500 and there are 10 prizes each week.

Education

There are several tools available at ForexMart which help traders become more profitable including the pip calculator and the margin calculator. An example of each is posted on the site.

Forex Calculator
Forex Calculator

There is also a currency converter with up-to-date charts that cover the minimum and maximum bid and ask over a 24-hour period.

Historical exchange rates are shown in chart and table forms.

Currency charts in various forms such as candlestick and trend lines can be seen by clicking the dropdown box on the chart page.

EUR/USD Forex Chart
EUR/USD Forex Chart

VPS is also available for free for clients who deposit a minimum of 500 USD in their account (or equivalent in other currency). Clients have to trade at least 0,5 round turn lots each month to maintain the VPS.

Deposits/Withdrawals

The available payment options include Visa, MasterCard, Neteller, Skrill, PayCo and other online wallets. There are no fees for any deposits.

Withdrawals are made by filling out an online form and selecting the withdrawal method.  

Customer Support

Traders can contact customer support 24/7 by email and by telephone during working hours- 07:00 - 16:00 GMT. Chat is available during working hours from the website and Skype is as well during these hours.

The website and platform are available in English only.

Conclusion

ForexMart is a fairly new entrant in the Forex market. It offers a straightforward website with the basic features needed by a beginner trader. The bonuses are generous and the fact that there is regulation is certainly a plus.

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Features

The features at ForexMart are quite standard but the most interesting offerings are the bonuses. At the time of this review, there were five different bonuses and promotions being offered including a no deposit bonus of $150. There were also several types of partnership arrangements which went beyond the usual affiliates and white label programs. Major pluses for this broker is the fact that it is regulated by CySec and that the platform used for trading is the MetaTrader4 which is the most popular platform in the market.

Company Information

  • Broker's Name : ForexMart
  • Headquarter : Cyprus
  • Regulation : CySEC

Account Information

  • Type of Broker : Market Maker
  • U.S. Clients Allowed :
  • Minimum Deposit : $1
  • Maximum Leverage : 1:11
  • Commissions / Spreads : Spreads
  • Account 1 : Standard
  • Account 2 : Zero Spread
  • Demo Account :
  • Islamic Account :
  • Segregated Account :
  • Managed Accounts :
  • Institutional Accounts :
  • Deposit Options :
  • Withdrawal Options :

Instruments Traded

  • ETFs :
  • CFDs :
  • Commodities :
  • Metals :
  • Stocks :
  • Oil :
  • Gold :
  • Binary Options :
  • Indices :

Trading Platforms

  • Type of Platform : MetaTrader 4
    • Platform Languages :
      • English
    • OS Compatibility :
      • Web
  • Trading Signals :
  • Charting Package :
  • Market Analysis :
  • Chart Trading :
  • Automated Trading :
  • Scalping :
  • Hedging :
  • Mobile Alerts :
  • E-mail Alerts :
  • Trailing Stops :
  • Guaranteed Stop Loss :
  • Guaranteed Limit Orders :
  • Guaranteed Execution :
  • One-click Execution :
  • OCO Orders :
  • Interest on Margin :
  • Web-based Trading :
  • Mobile Trading :

Customer Support

    • Website Languages :
      • English
  • Support Hours : 24/7
  • E-mail Support :
  • SMS Support :
  • Chat :

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Platforms

MetaTrader 4

ForexMart offers traders the use of the MetaTrader 4 trading platform, the most powerful, easy-to-use platform in the market today. 

MetaTrader 4 enables traders to track up to four charts simultaneously, trade directly from the chart, place orders, and manage multiple orders. The software is free and easy to install and supports several trade size allocation methods. It also provides over 40 technical indicators and has a customizable interface.

MetaTrader 4 Platform

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User Reviews

Did you have a good experience with this broker? A bad one? Tell our team and traders worldwide about your experience in our User Reviews tab. Your email address will not be posted.

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate, irrelevant or promotional links will also be removed.



3 User Reviews
Luis.ForexMart
Luis.ForexMart

With ForexMart, I am always assured that I am protected from any kind of online fraud since they are regulated by CySEC.

terrotrade
terrotrade

Quick withdrawing. It's very important for me.

Timothy.Forex.Mart
Timothy.Forex.Mart

Forex Mart is one of the exceptionally great Broker . in terms of Executions , Deposits / Withdrawals or Live Support all are amazing.

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Did you have a good experience with this broker? A bad one? Tell our team and traders worldwide about your experience in our User Reviews tab. Your email address will not be posted.

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate, irrelevant or promotional links will also be removed.


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Review info: ForexMart
Review Date:
Rating : 1
Reviewed By :