ForexMart Review 2020

ForexMart Awards

ForexMart have won numerious industry awards over the 5 years they have been operating as a financial broker. We list the most notible awards and mentions for ForexMart below.

• International Finance Magazine named ForexMart Best New Broker Europe 2016
• Global Business Outlook cknowledged ForexMart as the Best Forex Newcomer in 2016

ForexMart General Fees

• ForexMart withdrawal fees varies on payment method
• ForexMart doesn't charge inactivity fees
• ForexMart does charge deposit fees

Broker	forexmart	eToro	XTB	IC Markets
Min Deposit	1	200	0	200
Withdrawal Fees	5	Yes	varies	No
Inactivity Fees	No	Yes	No	No
Deposit Fees	Yes	No	No	Varies
CFD Commission Fees	Yes	No	Yes	Yes

ForexMart Commissions

• ForexMart does charge commission on CFD instruments.

Trading on ForexMart web platforms and other applications

ForexMart offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

ForexMart also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.

ForexMart Trading benefits :

• Allows scalping
• Allows hedging
• Offers STP
• Low min deposit
• Offers Negative Balance Protection

ForexMart Trading Accounts Offered :

The following account types are available to ForexMart clients:

• ForexMart classic - 1.2 pip average spread
• ForexMart Pro - 0.8 average spread
• ForexMart cent accounts - 1.2 pip average spread
• ForexMart ZeroSpread - 0 spread (takes 0.04% commission average after order execution)
• ForexMart Standard - 3 pip fixed spread

• Demo account
• Standard account
• ECN account
• STP account
• Islamic account

Can I try ForexMart before I buy?

ForexMart offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

ForexMart withdrawal and funding methods.

Please note that the list of payment methods below depend on the ForexMart Entity and the Clients Country of Residence.

ForexMart offer the below funding payment methods. learn more about ForexMart

• Credit cards
• Bank Transfer
• Skrill
• Neteller

Broker	forexmart	eToro	XTB	IC Markets
Bank transfer	Yes	Yes	Yes	Yes
Credit Cards	Yes	Yes	Yes	Yes
Paypal	No	Yes	Yes	Yes
Skrill	Yes	Yes	Yes	Yes
Payoneer	No	Yes	Yes
Neteller	Yes	Yes	Yes	Yes

How can I start trading with ForexMart?

When opening a trading account with ForexMart, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on ForexMart trading platforms here.

Performing trades with ForexMart

ForexMart allow you to execute a minimum of trade of $ 1. This may vary depending on the account you open. ForexMart allow you to execute a maxium trade of varies. As ForexMart offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the instruments.

ForexMart Leverage and ForexMart CFDs Explained

let's take a look at some of the basics of using ForexMart leverage.

ForexMart offer CFD are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

ForexMart leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the ForexMart trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The ForexMart leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

ForexMart CFDs are typically used for short to medium term trades. For example ForexMart intraday trading.

Limiting Your Risk When Trading with ForexMart Negative Balance Protection

We should say something about negative balance protection with ForexMart. When trading using leverage an adverse move could result in losing more than your trading account balance at ForexMart. Your ForexMart account could potentially become negative. We recommend you making use of negative balance protection. Using negative balance protection ensures your losses will always be limited to the current balance of the money in your account.

Education resources at ForexMart

To trade effectively with ForexMart, it's important to get a have a good understanding of the ForexMart trading tools and the markets.

ForexMart offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with ForexMart.

Take time to look around the ForexMart platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at ForexMart

ForexMart support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian

ForexMart have a A grade support rating because ForexMart offer over three languages.

Livechat Support at ForexMart

We tested the ForexMart live chat and it works well. We sent messages to ForexMart livechat through their app and website and recieved a response within 8 minutes.

We tested communicating with ForexMart support in multiple languages in multiple countries. ForexMart where able to resolve our customer issues.

Email Support at ForexMart

We sent several emails to ForexMart and answer times overall were excellent. The fastest response from ForexMart was less than 40 minutes and the slowest response was 9 hours. Support response times may vary for you with ForexMart, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall good email support from ForexMart.

Phone Support at ForexMart

We called ForexMart and the call was answered very quickly. The call was answered in less than 5 minutes.

The ForexMart phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual ForexMart team by calling in varying languages. ForexMart made an effort to make sure our queries were answered.

Overall the phone support from ForexMart was okay.

See how ForexMart Support Compares Against Other Brokers

Broker	forexmart	eToro	XTB	IC Markets
Support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support
Languages	English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian	English, German, Spanish, French, and Italian	English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish	English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more
Learn More	Visit ForexMart	Visit eToro	Visit XTB	Visit IC Markets
Risk Warning	Your capital is at risk	75% of retail investor accounts lose money when trading CFDs with this provider.	80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.	Losses can exceed deposits

What you will need to open an account with ForexMart

As ForexMart is regulated by Cyprus Securities and Exchange Commission (CySEC), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware Please kindly note that the expiration date of Proof of address document for different entities under ForexMart Brand may be different.

• A scanned colour copy of your passport, driving license or national ID
• A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore ForexMart's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with ForexMart you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.forexmart.com/ on 12th August 2018.

ForexMart review written by Andrew Blumer and Mark Hansen