ForexMart Review 2023

ForexMart review
ForexMart Awards

ForexMart have won numerious industry awards over the 8 years they have been operating as a financial broker. We have listed the most notable 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 review
ForexMart Fees Explained

• ForexMart withdrawal fees varies on payment method
• ForexMart does not charge a fee for inactive accounts.
• ForexMart does charge deposit fees.

Modern brokers like ForexMart provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, ForexMart may charge clients various fees for trading activities. Be mindful of these charges, impacting your overall ForexMart trading profitability.

How ForexMart Fees Compare Against Other Brokers

ForexMart Minimum Deposit

ForexMart requires a minimum deposit of 1 GBP/USD/EUR when opening an ForexMart trading account.

A minimum deposit is the minimum amount of money required by ForexMart to open a new online brokerage account with them.

Don't be scared off by brokers like ForexMart charging a minimum deposit to open a trading account. Brokers charging higher minimum deposits may offer additional premium services on their platforms that are not free on other platforms.

In the trading world, brokers like ForexMart, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don't require advanced research tools or features. On the other hand, brokers that require a larger minimum deposit often provide a greater range of trading features, more in-depth technical analysis, research tools, and better risk management features.

Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients.

However, it's important to note that depending on your trading account type, some brokers may require a higher minimum deposit of up to 10,000 GBP/USD. Therefore, it's essential to research and compares different brokers to determine which best suits your trading needs and budget.

ForexMart Withdrawal Fees

The fees for withdrawing funds from your ForexMart account will differ depending on your chosen payment method. Reviewing the fees associated with each payment method before making your ForexMart withdrawal request is important.

ForexMart Withdrawal rules may vary across different brokers when it comes to transferring funds from your ForexMart or other broker trading account. Each brokerage firm has its specific withdrawal methods. The payment provider associated with ForexMart may have different transfer processing fees and processing times, affecting how long it takes to receive your funds.

In addition, currency conversion fees may apply if the ForexMart withdrawal and receiving currencies differ, adding to the overall transaction costs. The currency conversion fee depends on your base currency, receiving currency, and the 3rd party payment provider that is separate from ForexMart. Researching and comparing ForexMart withdrawal policies and fees across different brokers is essential before choosing one, especially if you are withdrawing ForexMart funds frequently or dealing with large sums of money. Awareness of these ForexMart fees and policies can help you plan and budget accordingly and avoid any unpleasant surprises when transferring your ForexMart funds.

For example, ForexMart allows you to withdraw your funds to Bank Transfer, Visa, MasterCard, Skrill, Neteller, PayCo, fasaPay, Qiwi, Union Pay, AliPay, .

ForexMart Inactivity Fees

ForexMart does not charge a fee for inactive accounts.

When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by ForexMart terms and conditions. It's important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them.

Make sure you're fully aware of all ForexMart fees and services. It's recommended that you check the ForexMart website before signing up. If you decide to close your ForexMart account, it's important to do so with the ForexMart broker customer support and obtain confirmation that no remaining ForexMart fees are due.

Brokers like ForexMart must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.

Certain brokers may levy inactivity fees to recoup the expenses associated with sustaining your account on their trading platforms when there is a shortage of commission fees earned from your trading activities.

ForexMart Deposit Fees

ForexMart do charge deposit fees.

Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account. The payment method employed for funding your account might also incur a fee.

Depositing funds into your trading account may incur a fee, which could vary depending on the fiat currency used. For instance, depositing funds from a credit card can attract high fees. Additionally, not all brokers accept credit card payments for account funding. It's crucial to review the funding options and associated fees the broker provides before depositing any funds.

ForexMart Commission Fees

ForexMart does charge commission on CFD instruments.

Brokerage firms like ForexMart may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms. Commission fees can vary depending on the type of financial asset being traded and the ForexMart trading account level held by the trader.

ForexMart may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing ForexMart terms and conditions to understand the commission fees and any other charges that may apply is essential.

ForexMart review
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 trading apps help you stay on top of your trades and execute them on the go.

See ForexMart's platforms

Is the ForexMart Trading Platform Secure?

You should take the security of your personal information seriously and check SSL encryption is enabled on the ForexMart trading platform to protect you on PC and mobile ForexMart platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using ForexMart web trading platforms.

ForexMart Trading Platform Options

After logging into your ForexMart account, you'll find a range of trading platform options available below.

• MetaTrader 4 (MT4)

Please be aware that ForexMart does not currently support the MetaTrader 5 (MT5) trading platform. However, if you're looking for a broker that does offer MT5, you can check out our list of recommended brokers available through the provided link.

ForexMart does not support the cTrader trading platform. However, if you're looking for a broker that does offer cTrader, you can explore other options available through the provided link.

Let's explore each of these trading platforms in detail and what options ForexMart gives you.

ForexMart review
ForexMart MetaTrader 4 (MT4)

MetaTrader 4, commonly known as MT4, has been a well-known and widely used trading platform in the financial markets since its inception in 2005. MT4 on ForexMart offers traders comprehensive features and tools to enhance their trading performance. The ForexMart MT4 user-friendly interface and highly customizable trading environment allow traders to tailor the ForexMart platform to their needs. One of the standout features of MT4 is its charting functionality, which allows ForexMart traders to analyze price movements and make informed trading decisions. Additionally, advanced order management tools give ForexMart traders greater control over their trades, allowing them to manage risk better and optimize their trading strategies on the MT4 ForexMart trading platform.

MetaTrader 4 (MT4) was created mainly for Forex trading, but it can also facilitate the trading of other financial instruments via CFDs and Spread Betting. You cannot trade real assets like stocks, shares, commodities, indices and ETF's on the ForexMart MetaTrader 4 (MT4) trading platform. MT4 is a platform available with ForexMart, that facilitates trading financial instruments in the form of CFD contracts or Spread bets. The ForexMart MT4 platform does not provide access to physical assets such as stocks, commodities, or ETFs for trading. ForexMart allows trading CFDs and Spread bets, which do not involve owning underlying assets but speculating on price movements, using high risk leverage. To gain more information about the MT4 Platform, click here.

You can start using the MetaTrader 4 platform with ForexMart in multiple formats including through an online web platform, Through a downloadable application for Windows PCs and Apple Macintosh computers. ForexMart MetaTrader 4 is compatible with the latest macOS. ForexMart allows traders to trade on mobile devices through Android and iOS devices like the iPhone.

Metatrader 4 Webtrader on ForexMart

MetaTrader 4 (MT4) is a widely used trading platform in the world, offering a range of advanced tools and features. Recently, MT4 has been made available as a web-based application through a web browser, enabling traders to access the platform from anywhere.

The web version of MT4 provides the same user-friendly interface and customizable trading environment as the desktop version. With MT4 web, traders can access advanced charting tools, online trading indicators, and a Dealing Desk-free trading environment.

Additionally, traders can enjoy Raw Pricing without any intervention from brokers. Overall, MT4 web is a convenient and efficient way for traders to access the platform and manage their trades.

Trade ForexMart MetaTrader 4 on iOS Devices

You can download the ForexMart app or trade with ForexMart through the MetaTrader 4 application on the Apple app store.

Download the Metaquotes MetaTrader 4 Program free of charge from Apple's App Store. ForexMart customers have instant access to the financial market and can completely manage a Portfolio on the go.

Trade ForexMart MetaTrader 4 on Android Devices

Millions of people worldwide use Android mobile devices and tablets, and ForexMart offers its clients access to the MetaTrader 4 platform on these devices. With the ForexMart MetaTrader 4 Android application, traders can monitor the financial markets and execute trades directly from their Android-based smartphones and tablets. This app provides access to a range of advanced trading features, allowing ForexMart traders to stay on top of their trades and react quickly to changes in the market. With the ForexMart MetaTrader 4 Android app, traders can securely manage their trades on the go, making it a convenient and efficient way to stay connected to the market.

Trade ForexMart MetaTrader 4 Trading Central

Trading Centrals Alpha Generation Indicators available on ForexMart are a powerful bundle of three major indicators designed to help traders make informed decisions. ForexMart MT4 Trading Central indicators include:

• Analyst Perspectives - A valuable resource for traders seeking leadership insights and key levels.
• Adaptive Candlesticks - This indicator is capable of identifying chart patterns that highlight significant changes in demand and supply.
• Adaptive Divergence Convergence (ADC) - Similar to MACD, but with greater utility at shorter lengths, this indicator provides more timely signals.

Trading Centrals Alpha Generation Indicators can help ForexMart traders better understand market trends and patterns, enabling them to make more informed trading decisions. These indicators can provide valuable insights into market movements, allowing ForexMart traders to potentially stay one step ahead.

ForexMart MetaTrader 4 Advanced Trading Tools

The ForexMart MetaTrader 4 trading platform has advanced tools that enhance the overall trading experience and give ForexMart traders detailed market tools. With feature-rich trade execution and management programs, sophisticated notification alarms, messaging facilities, innovative market data, and more, ForexMart provides traders with everything they need to succeed. The ForexMart MT4 platform also includes a range of technical analysis tools, with 30 indicators built in, 2000 plus free indicators, and the availability of paid indicators, allowing ForexMart traders to analyze the market at any level of complexity.

Trade ForexMart MetaTrader 4 MultiTerminal

MetaTrader 4 MultiTerminal offers traders an intuitive and user-friendly dashboard to manage and monitor multiple trading accounts. This powerful tool allows traders to oversee over 128 accounts simultaneously, enabling them to place market and pending orders, view real-time market prices, and track all accounts and equity in real-time.

It's important to note that MultiTerminal only supports trading accounts on the same MetaTrader server and doesn't allow automated trading scripts such as Expert Advisors.

This tool is ideal for traders who manage several accounts simultaneously and require a more efficient and effective way to track and execute trades. You can have up to 10 demo accounts on MetaTrader 4 MultiTerminal.

ForexMart MetaTrader 4 AutoChartist

Autochartist on the ForexMart platform is a powerful tool designed to help traders find trading opportunities quickly and easily.

Available for ForexMart MetaTrader 4 Autochartist can scan the market using an expert advisor script.

With Autochartist, ForexMart traders can scan multiple markets and timeframes from a single graph, making it easy to keep track of all their preferred symbols without launching multiple graphs. Using Autochartist can save ForexMart users time and makes the trading process more efficient.

The Autochartist interface is user-friendly and can be customized to suit individual trading preferences. ForexMart traders can navigate the platform and find the information they need to make informed trading decisions.

ForexMart Autochartist is a valuable tool for traders who want to stay ahead of the curve and identify trading opportunities quickly and easily. With its powerful features and easy-to-use interface, Autochartist is an essential tool for ForexMart traders of all experience levels.

ForexMart Trading benefits

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

ForexMart Trading Accounts Offered

Below we give an overview of the account types that ForexMart offer. Whatever you are looking to trade, the varying ForexMart account types will be able to provide you with what you need.

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.

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

Can I try ForexMart?

ForexMart provides a demo account that enables individuals to explore trading before investing their funds. By creating a ForexMart practice account, users can gain experience and knowledge of how to trade effectively. Demo trading accounts like the ForexMart demo account can help individuals to make informed decisions before investing their money.

Open a demo ForexMart account to practice and trade.

Your capital is at risk

ForexMart withdrawal and funding methods

It's essential to remember that the payment methods provided by ForexMart vary based on the ForexMart entity and the ForexMart client's country of residence. To view the ForexMart payment options available, you can log into your ForexMart member's area.

ForexMart offers various funding payment methods listed in your ForexMart dashboard if available in your region. To learn more about the ForexMart funding and withdrawal options available in your area, you can explore the ForexMart website.

ForexMart provides several payment methods for funding your ForexMart account. You may utilize any of these deposit options if they are available in your region. ForexMart ensures that users have multiple payment methods to choose from, making it more convenient for verified ForexMart account holders to add funds to their accounts. However, it's important to note that the availability of payment methods may vary depending on the ForexMart user's location. learn more about ForexMart funding and withdrawal methods.

ForexMart Payment Methods

Some ForexMart payment methods are local and are available only to specific regions. ForexMart account holders should check which payment methods are provided in your region.

• ForexMart accepts Bank Transfer
• ForexMart accepts Visa
• ForexMart accepts MasterCard
• ForexMart accepts Skrill
• ForexMart accepts Neteller
• ForexMart accepts PayCo
• ForexMart accepts fasaPay
• ForexMart accepts Qiwi
• ForexMart accepts Union Pay
• ForexMart accepts AliPay

How can I start trading with ForexMart?

To open a trading account with ForexMart, individuals can sign up on the ForexMart website. Upon completing the signup process, users will receive login details via email, which they can use to access their accounts.

The next step involves submitting identification documents for ForexMart account validation and making a deposit. Once completed, ForexMart users can download the trading platform of their choice.

It's important to note that ForexMart requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps ForexMart maintain a trustworthy financial environment for its 10,000 users. Detailed information on the ForexMart trading platforms is available on their website.

Your capital is at risk

Performing trades with ForexMart

When using ForexMart, the minimum trade size is typically $ 1 units of the base currency of the instrument being traded. However, this amount may vary based on the specific account a user has opened. ForexMart have a max trade of varies. With the ECN and STP execution methods offered by the platform, traders using ForexMart can enjoy tighter spreads and greater transparency when it comes to the pricing of their trades.

Like other brokers, ForexMart margin requirements can differ depending on the traded instrument.

CFD Trading on ForexMart

We will show you an example of the basics of using ForexMart leverage.

CFD trading on ForexMart allows traders to speculate on the price movements of various financial instruments against the broker ForexMart, without actually owning real assets. With CFDs, ForexMart traders can profit from upward and downward price movements by going long (buying) or short (selling) on an asset.

ForexMart provides CFDs which are leveraged products. For this example, let's assume a ten times leverage. So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account. With high-risk leverage, a small sum controls a much bigger financial position.

The effect of leverage on profits and losses magnifies them in both directions. In other words, ForexMart leverage profits and losses are magnified when trading. For instance, using CFDs, you use the ForexMart trading platform to buy/sell $10,000 worth of Apple Computer Inc. If the stock rises by 10% due to positive results, your position is now worth $11,000, representing a $1,000 or 10% increase in value. This CFD trade has a 100% increase in the funds initially committed.

On the other hand, if Apple Computer Inc falls by 10%, your position worth $10,000 is now worth only $9,000, representing a $1,000 decrease. Therefore, ForexMart leverage magnifies both profits and losses in trading.

Trading CFD trades on the ForexMart platform can provide more flexibility than traditional market trades, allowing access to CFD fractional shares, international markets, and short selling. They are commonly used for short to medium-term trades, such as intraday CFD trading, but are high-risk due to their separation from the financial markets.

Experienced ForexMart traders can trade high risk CFD trades to hedge items in their portfolio.

Always be aware that CFDs are complex instruments with a high risk of losing money rapidly due to leverage. Your capital is at risk

Limiting Your Risk When Trading with ForexMart Negative Balance Protection

Negative balance protection is important for traders using leverage on platforms like ForexMart. In an unfavourable market move, leverage can result in a loss that exceeds the trader's account balance, leaving them with a negative account balance. If a ForexMart trading position does not go in your favour, this is where negative balance protection comes in handy.

Brokers regulated by the Financial Conduct Authority (FCA) must offer negative balance protection as a standard feature. With negative balance protection, ForexMart trading losses are always limited to the current balance of funds in the trader's account.

Even if an ForexMart trader experiences a significant loss, they will never owe more money than what is available in their ForexMart account balance.

It's important for ForexMart traders to understand the potential risks of trading with leverage and to take advantage of features like negative balance protection to mitigate those risks. By doing so, traders can trade with peace of mind, knowing that ForexMart losses are limited to the funds available in your ForexMart account when negative balance protection is in place.

Education Resources at ForexMart

To trade effectively with ForexMart, it's important to have a good understanding of the ForexMart trading tools and the markets. Make sure you make full use of all education tools. Including educational tools with ForexMart and externally.

ForexMart . It's essential to take the time to learn about the financial markets and understand how they move before diving into trading with ForexMart. Familiarizing yourself with the ForexMart trading platform is crucial to use it effectively.

While learning, you can also use global trading times to practice making live buy or sell trades using ForexMart. This hands-on experience can help you gain confidence and become more comfortable with trading.

Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with ForexMart involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets.

Learning about the financial markets, trading platforms like ForexMart, and risk management techniques can help you become a more confident and successful trader.

Take an analytical approach to trading with ForexMart. Explore the ForexMart platform and train yourself to think systematically and logically about the markets.

While it may be a new skill set for some, it is what the market requires for success. Developing your trading skills with ForexMart, before live trading.

Customer Support at ForexMart

As part of our ForexMart review, we review customer service options, response times and problem resolution effectiveness on the ForexMart trading platform. The ForexMart trading platform supports multiple languages, which includes English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian.

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

Livechat Support at ForexMart

Our experience with ForexMart live chat was positive. We tested their live chat feature through their app and website and received a response within 6 minutes, an acceptable response time. The support team was helpful and provided us with the necessary information.

We tested the effectiveness of communicating with ForexMart support in multiple languages and countries. Our customer issues were resolved promptly by the ForexMart support team, proving their ability to efficiently and effectively support customers in diverse locations and languages.

Email Support at ForexMart

After testing, we found that the email support provided by ForexMart was excellent, with a fast response time. We received the fastest response in less than 60 minutes, while the slowest response was in 11 hours. It's important to note that response times may vary based on your experience with ForexMart, but in our case, we sent 25 emails at varying times.

The support team resolved and answered our queries. Overall, we had a good experience with the email support provided by ForexMart.

Phone Support at ForexMart

We contacted ForexMart via phone, and our call was answered within a reasonable timeframe of 7 minutes.

The ForexMart phone support team was able to assist us with our queries and issues. We put their multilingual support to the test by speaking to them in various languages, and they were able to communicate effectively.

Overall, while the phone support experience was satisfactory, there is still room for improvement.

See how ForexMart Support Compares Against Other Brokers

What you will need to open an account with ForexMart

As ForexMart is regulated by Cyprus Securities and Exchange Commission (CySEC).

As a new client of ForexMart, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with ForexMart in your region. During the ForexMart account opening process, you will be asked to provide ForexMart with certain documents, including a scanned copy of your passport, driving license or national ID, as well as a utility bill or bank statement from the past three months to verify your address.

When registering with ForexMart have the following documents available.

• ForexMart require a scanned colour copy of your passport, driver's license or national ID card.
• A recent utility bill or bank statement that confirms your residential address for ForexMart compliance. This must be dated within the last six months.
• If you plan to fund your ForexMart account using a credit or debit card, you will need to provide a scanned copy of the front and back of your card. You can mask any sensitive information like the CVV code on the ForexMart platform.

It's worth noting that the expiration date of the proof of address document may differ for different entities under ForexMart Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience. This process usually takes around 5 minutes, and once you've passed compliance, you can start exploring ForexMart's platform.

However, remember that you won't be able to make trades on ForexMart until you have passed compliance, which may take several days, depending on your circumstances. It's essential to complete the ForexMart KYC compliance process as soon as possible to avoid any delays in accessing the ForexMart platform's features.

It is important to note that ForexMart may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, and you can start exploring the ForexMart platform and features immediately. However, you must pass the verification process to start live trading with ForexMart, which can take up to a few business days.

To start the process of opening an account with ForexMart you can visit the ForexMart trading platform here.
Your capital is at risk
You should consider whether you can afford to take the high risk of losing your money.

CFDs are leveraged products and can result in significant losses, excess of your invested 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 investment advice. All information collected from https://www.forexmart.com/ on March 26, 2023.

ForexMart review written by Andrew Blumer and Mark Hansen