ForexMart is this a scam? Review and Customers Reviews

ForexMart – one of the young international forex brokerssuccessfully rendering trading services on the world investment platforms. Traders will find a large number of financial instruments, favorable trading conditions, modern opportunities for productive work and much more.

The main goal of the company’s development is to constantly support the interests of its clients. Working on the service, it has already earned recognition among international financial institutions. And yet, ForexMart – a divorce or a decent young company, which you should definitely pay attention to? We will answer this question in a detailed review of the broker.

 

ForexMart trading conditions

The project is considered young because it has been providing intermediary services in the financial market since 2015. However, ForexMart positions itself as a reliable partner in this business, as it tries to provide users with only high quality software. The company pays great attention to the protection of client accounts from fraudulent actions.

Clients of the forex broker have a good choice from a wide range of trading instruments provided. This fact gives an opportunity to diversify the investment portfolio, optimally distributing risks. Besides 109 currency pairs, CFD contracts on metals and securities participate in trading.

ForexMart takes into account the fact that it has not been in forex industry and tries to keep its position among competitors with tight spreads that can interest investors of all ranks. The types of trading accounts offered to clients have different characteristics and are designed for followers of different trading strategies:

• ForexMart Classic. The entry threshold is $15. There are no commissions. The minimum spread is 1 point, the average spread is 1.2 points. This type of account is perfect for beginning traders.
• ForexMart Pro. The starting deposit is $200. The minimum spread is 0.6 pips. Average is 0.8 pips. There are no commissions. The account is acceptable for traders with Forex trading experience.
• ForexMart Cents. The minimum spread is 1 pip. The average is 1.2 pips. There are no commissions. Starting deposit – $15.
• ForexMart Zero Spread. Spread at the minimum is 0 pips. The initial deposit equals $1.

Execution of orders in the first three types of accounts is market, in the last – instant. The size of a leverage on all accounts 1:500. The client can open no more than 500 orders simultaneously. For practice and gaining skills in trading on the financial market there is a demo-version.

To gain access to all of the services provided by the project, the user must be verified. This can only be done on the site forexmart.com. The process of confirming the identity itself does not take much time. For clients who, for a number of reasons, cannot trade on their own, the broker offers social trading. You can earn by copying the trades of experienced traders. Their list is available on the website. If you get acquainted with the trading portfolios of pros and their trading statistics on the account monitoring page, you can choose one of them and start cooperation.

Before copying trades, it is advisable to set the settings for the selected trading strategy. After that the process of copying will take place in an automatic mode. The process is fully controlled. If necessary, it is always possible to make adjustments. Those who want to make money by becoming a partner of ForexMart. The project offers a variety of partnership types to choose from:

• Webmaster. It is possible to start a website. The project will provide possible assistance in this by providing a variety of widgets and promotion materials. They can be easily integrated into the site.
• Online Partner. Profit can be made from the traffic of the site. Using the link that is placed there, a new client registers on the project and is automatically enrolled in the online affiliate group.
• Regional online partner. Earnings come from advertising the company’s services in a particular region.
• CPA type. Comfortable for specialists SEO-optimization. The essence is to attract customers and receive a one-time commission for their first deposit.

ForexMart provides users with detailed analytical reviews. They contain the latest relevant information about the financial market. Here you can find forecasts, stock market trends, political changes in the world and relevant economic reports. Skillful use of this information has a significant impact on profit.

 

ForexMart trading platform

Beginner traders, choosing a broker for cooperation, should take into account the specifics of the trading platform it offers. This is one of the fundamental factors of comfortable and successful trading, because the trading and analytical software determines the efficiency of transactions execution and the ability to correctly analyze the market situation.

ForexMart provides its clients with one of the most powerful trading terminals, popular among most traders, time-proven MT4. The “all in one” principle most accurately characterizes this platform. Intuitive, even for beginners, transitions to sections, the ability to analyze multiple asset charts at once, simultaneous management of open trading positions – this is by no means a complete list of MetaTrader 4 advantages.

The terminal is easy to download and easy to install on a computer or laptop. MT4 preserves the confidentiality of all trading operations of a trader. A 128-bit encryption system takes care of that. Having their own trading strategy, any trader with good MQL programming skills can create and use Expert Advisors and indicators. And all this is completely free and without any restrictions.

In addition to MT4, clients are provided with a web platform. By opening the browser, trading can be implemented even more easily. The user accesses his account and trades as usual, without downloading or installing any software. The company guarantees that trading via the web platform is absolutely safe and the information is securely encrypted. You can place any type of orders, trade currencies, CFD and other services provided by precise technical indicators.

ForexMart broker quotes

Demand and supply shape market quotes. In fact, they are created by market makers (liquidity providers), who are the biggest buyers and sellers. All liquidity providers work on the market independently and additionally cooperate with brokers, guaranteeing them liquidity for a certain volume of currency. A broker, in his turn, forms his own quotations from the market quotations and delivers them to his clients.

The relevance of asset prices is extremely important to traders. Considering certain quotes, a trader makes a decision to buy or sell. The timeliness of quotes is especially important for scalpers trading in the 1-5 minute interval. Tradomart SV Ltd. is the owner of ForexMart brand and cooperates with famous and trusted liquidity providers. The quality of quotes is high enough, considering the fact that MT4 is not a delicate tool. However, the obtained quotes can be used to test various profitable strategies.

 

Demo account

A demo account gives you the opportunity to check the trading conditions of the broker, to choose comfortable tools for trading on the website forexmart.com, test various trading strategies. And all this is possible without losing real money. A demo account uses virtual money. Not every project provides such a service to its customers, but ForexMart has it. To test their abilities traders are given 50 thousand virtual dollars, real market quotes and 24-hour support 5 days a week.

 

Bonuses forexmart.com

A diverse bonus program of any brokerage company helps to increase the number of its clients. Some brokers have such rewards available only for newbies who have just registered on the project, other brokers have them available for all clients without exception. ForexMart tries to keep up with its competitors and offers users a variety of bonuses.

Bonus 30%

For example, a deposit of $100 gives him an additional $30. The size of the credited reward is calculated correctly and without errors. It should be noted that the amount when it is credited by the broker is not limited. This bonus is called a welcome bonus. As soon as it appears in the account, it can be used by the client in trading at once. The number of accounts for receiving this bonus is not limited. More details on this can be found on the website forexmart.com.

Contests

In addition to the bonus program, the project offers various contests. At the moment you can take part in the competition “Moneyfall”. And participants do not need to spend real money, because the competition is held on demo accounts. Starting deposit is 5 thousand virtual dollars. The winner must have the maximum balance on the contest account. The reward is $300. There are 10 prizes, and the prize fund is $850 and it is already real money. That is what is distributed between the top 10 traders. The contest “Moneyfall” is held weekly.

 

Deposit and withdrawal

ForexMart offers its user advanced deposit and withdrawal options. To deposit, you need to register at the broker, deposit an amount, choosing a convenient way to transfer funds (minimum deposit – 1$), from the usual bank cards to e-wallets:

• Bank transfers (replenishment: 2-4 days),
• Credit, debit cards VISA/MasterCard (top-up: 24 hours),
• Electronic payment systems: Yandex-money, Qiwi, Skrill, Neteller, PayCo, PayPal, Paxum, etc. (instant replenishment).

Money is available for trading immediately after the payment is made. Withdrawal of funds is possible only for authorized and verified traders.

 

Complaints against ForexMart

At forexmart.com reviews on the network are diverse. Among the positive moments most often users note instant replenishment of the account, many useful tools, low spreads, fast execution of transactions, good technical support, clear work of the terminal, real help of a demo account, and the fact that the company constantly offers new opportunities and profitable bonuses. Some traders recommend the broker for trading, other clients note minor errors in the process, explaining it by the fact that the company is still new.

There are also negative reviews of ForexMart on the net concerning the uncomfortable interface of the personal account, problems with the terminal (requotes, hangs), withdrawal of funds (delays, often delays with reference to technical problems), long and complicated verification procedure. It is worth noting that a representative is quite active on behalf of the company on the forums, who is trying to minimize the negative, to sort out the specific situation. To avoid problems with ForexMart, ask your account manager about the verification terms of the account, the rules of bonus usage and withdrawal peculiarities. It should be noted that the broker is still young, it has yet to find and conquer its audience, which means that there will be more reviews about it and it is too early to draw conclusions about it now.

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Regulator of ForexMart broker

The international financial market is an over-the-counter market and is based on the free conversion of currencies. Although it is characterized by a high enough degree of state non-interference and lack of strict supervision on the part of officials, the activity of its participants is still subject to certain laws and rules. The regulators deserve a lot of credit for this. It is hard to overestimate the importance of regulation. This supervising body is called to protect traders’ interests and control brokers’ activity.

The ForexMart brand belongs to Tradomart SV Ltd. ForexMart is regulated and provides intermediary services in various jurisdictions. Tradomart SV Ltd. is headquartered at Shamrock Lodge, Murray Road, Kingstown, St. Vincent and the Grenadines. The company is Cypriot regulated with license number 266/15.

In addition, there is also the regulation of the FCA. In the register of financial services there is number 728735. The British control significantly increases the status of the broker, because in addition to the European economic area it can also provide services in the UK. Therefore, the firm must meet the minimum standards agreed upon in all EU countries. The regulator will help with the payment of compensation to traders in the event of financial collapse of the company.

• Check your ForexMart license at the CySEC website
• Check the ForexMart license on the FCA website

User Agreement forexmart.com

Beginner traders, for the most part, practically do not get acquainted with this document and make a big mistake. Professionals, before starting cooperation with any brokerage company, carefully study the user agreement. Studying its items, an experienced trader begins to form a complete picture of the broker’s activity in front of his eyes.

Already at the initial stage of familiarization it is possible to determine whether the activity is transparent or the organization cleverly disguises its fraudulent actions. The document should clearly spell out the trading conditions, methods of deposit/withdrawal of funds, availability of a license, rights and obligations of the parties, their responsibility and other important aspects. Tradomart SV Ltd. is listed as the company the contract is signed with, with its address in St. Vincent and the Grenadines.

All orders placed by the user may be transferred by the broker to another organization (liquidity provider) for execution. This is mentioned in section 9.1

The company is not responsible or liable for delays in customer orders.

Quotes appearing on the screen of the client’s trading terminal are based on data from the liquidity provider. They are indicative and, therefore, the actual execution price may vary depending on market conditions. And sometimes, in the presence of high volatility in the underlying market, order execution may be suspended.

Client funds are always segregated from company funds and held in separate segregated accounts.

Withdrawal of money from the deposit is made by submitting the appropriate application. The period of withdrawal can be up to 3 banking days. The withdrawal procedure is described in section 14.6

 

Is ForexMart a Scam?

Despite the fact that ForexMart – is one of the youngest forex brokers on the market, it has yet to show its capabilities in trading, but the company is already quite active, publishing high-quality analytics on forums, has more than one prestigious award (Forex Trading Training). This positively characterizes the broker, distinguishes it from competitors and from fraudulent sites. On the Internet there are different reviews of ForexMart, traders note both the advantages and the negative points, in many ways this indicates that it has something to interest its users, but because of the ill-conceived service there are problems (with the terminal, withdrawal of funds, the rules of using bonuses).

Some users recommend ForexMart for trading, and other clients note the constant development of the service, which makes trading the most comfortable – this is also a good sign, positively characterizing the company. As an advantage we should also note the fact that the broker’s representative works on the forums, who tries to reduce the negativity, to help solve users’ problems. An important factor in the formation of the broker’s image is the provision of a reliable Metatrader 4 terminal for trading.

One of the company’s objectives is to support customer focus, and that is what the broker adheres to, offering the best service, professional 24/7 support, favorable trading conditions, constant bonuses and contests. To a large extent, this fact demonstrates the serious intentions of the company, which is important to build a strong relationship with the client, which is usually inaccessible to fraudulent sites. The presence of ForexMart certification is also a significant step towards trust on the part of the user. Should we consider ForexMart a scam? At this stage of the company’s development, we think it’s too early to draw such conclusions, but every trader can protect himself and his funds by working properly with his personal manager.

 

Conclusion

ForexMart BrokerIn spite of the fact that it is one of the young companies, it has all chances to get leading positions and high ratings among trading professionals. The broker is quite active on the Internet, publishes analytical reviews, the company’s representative works with traders’ reviews on forums, which means that it is important to hear the user’s opinion. The broker has all sorts of reviews, both positive and negative. We hope that the work on the forums will bring results and the service will be much better. Still, some users recommend the broker, noting favorable conditions, reliable operation of the terminal, etc.

Customer focus, constant development, provision of quality service, professional analytics – all this positively characterizes the broker, confirming the correctly chosen niche of development. It’s also fair to say that ForexMart has not yet had time to show itself to the fullest extent, it’s too early to assess it as a reliable or fraudulent company. However, traders’ reviews, which we are waiting for this review, can not only change the broker’s ratings, but also warn against possible problems of market players.