History and Origin
In 2015, ForexMart was founded, aiming to become a global retail forex broker for the provision of excellent and innovative trading services. It has made cheap or free offerings to clients according to the size of their amounts.
Mission and Vision
ForexMart takes pride in its services that enable traders to access all the resources needed for successful trading operations on the financial markets. By trading transparently within the reach of merchants, it aims to make its mark as one of the brokers who can penetrate a worldwide market through reliability and customer-centrism.
Universal Presence
ForexMart is working across a wide range of countries; with its multilingual support and localization solutions, it meets varied international requirements.
Pros and Cons
Key Advantages
- High Maximum Leverage
- Multiple Customer Support Channels
- No Commission Charged
Areas for Improvement
- High Minimum Deposit
- Less Attractive Spreads
Security and Regulation
Licenses Possessed
The ForexMart broker is CySEC-regulated, which in terms of financial qualifications is very good for providing the client with a safe trading atmosphere.
Segregation of Funds and Insurance
The client’s money is deposited in segregation at the best banks, separate from the broker's monies. For money management, no customer could overdraft forex losses from the amounts they initially deposited.
Instruments for Trading
Currencies
More than 50 currency pairs are available through ForexMart, including major currencies, minor ones, and exotic currencies with tight spreads and decent leverage.
Commodities
Trading on goods such as gold, silver, crude oil, and natural gas offers further opportunities to diversify trading.
Indicators
Major global indices, such as NASDAQ, S&P 500, and FTSE 100, are all available through the broker.
Securities
Trade in a number of globally shared entities that provide exposure to leading USA and European companies.
Account Types
Classic
Minimum deposit | 0 |
---|---|
Commission | 1.0 |
Available tools | 0 |
Leverage, min | 1:1 |
Leverage, max | 1:3000 |
Margin call level | 30 |
Stop-out level | 10 |
Pro
Minimum deposit | 0 |
---|---|
Commission | 0.6 |
Available tools | 0 |
Leverage, min | 1:1 |
Leverage, max | 1:500 |
Margin call level | 30 |
Stop-out level | 10 |
Cents
Minimum deposit | 0 |
---|---|
Commission | 1.0 |
Available tools | 0 |
Leverage, min | 1:1 |
Leverage, max | 1:500 |
Margin call level | 30 |
Stop-out level | 10 |
Zero Spread
Minimum deposit | 0 |
---|---|
Commission | 0.0 |
Available tools | 0 |
Leverage, min | 1:1 |
Leverage, max | 1:200 |
Margin call level | 30 |
Stop-out level | 10 |
Fees and Charges
Spreads and Commissions
ForexMart offers low spreads starting at 0.0 pips on Zero Spread Accounts. The Standard Accounts don't charge commissions, but the rates and schedule change according to the trading volume with the commission being increased.
Swap Rates
Keeping a position open overnight attracts a fee known as a swap fee. Islamic accounts avoid swap fees.
Inactivity Fees
An inactive-account fee can be charged to dormant accounts to encourage trading activity.
Trade Platforms
MetaTrader 4
A trading platform supported by ForexMart. Comprehensive educational facilities through the MT4 Terminal provide advanced trading tools with a broad range of indicators.
Mobile Apps for Traders
Trade anywhere using mobile applications for iOS and Android, allowing you to manage your account and stay updated with the market.
WebTrader
WebTrader allows trading directly within a browser without downloads, offering basic trading properties.
Customer Support
Registering the Steps
You will need to register on ForexMart's website by filling out an online form, selecting your preferred account type, and providing the requisite identification documents.
Verification Needs
Currently available for deposit and withdrawal verification are proof of identity (passport or Thai National ID) and proof of address (e.g., utility bills or bank statement).
Deposit and Withdrawal
Methods of Payments
Various options are available for deposits, such as bank transfer, credit card, and e-wallets like Skrill, Neteller, or PayPal.
Processing Times
Deposits are often processed immediately, while withdrawals may take 1-3 business days depending on the payment system used.
Associated Charges
Most deposits are free, but withdrawal charges may vary depending on the method used. For detailed information on fees, refer to the broker's main website.
FAQ
Is the broker regulated?
Yes, ForexMart is regulated by CySEC, Cyprocitel 135/11.
What trading platforms do they offer?
ForexMart offers MetaTrader 4 for both mobile and web-based trading solutions.
How much is the minimum required deposit to open an account?
The minimum deposit is $1, making ForexMart accessible to traders from various backgrounds.
What kinds of accounts does it offer?
The broker offers Standard, Zero Spread, Cent, and Islamic accounts.
What fees and commissions are they charging?
ForexMart charges include spreads, commissions on Zero Spread Accounts, overnight swaps, and inactivity fees.