Compare FOREXMART Versus PHOENIX MARKETS and IC Markets broker accounts.
Compare ForexMart Vs Phoenix Markets Side by Side
So you are looking for a broker, ForexMart or Phoenix Markets who should you choose?
When trading on financial markets you will want to know all about who ForexMart or Phoenix Markets are, and how they compare. You will naturally want to know how long ForexMart and Phoenix Markets have been in business and what reputation ForexMart and Phoenix Markets have. On top of this, you will need to discover if ForexMart and Phoenix Markets match your trading needs.
Having a reputable and dependable broker is crucial to your trading. The reason for this is quite a simple one You need to be sure in the knowledge that your money is in a segregated bank account with a financially regulated broker. Let us see how ForexMart and Phoenix Markets compare.
Well in our side by side comparison we make it easier for you to see what is right for you. As with anything the final decision on which broker to trade with should ultimately be based on what and how you going to trade.
Our comparison will help you judge the effectiveness, price, ease of use and support trustworthiness of ForexMart and Phoenix Markets side by side.
You are eager to start trading so let us help you make a more informed descision.
Our Comparebrokers.co team has painstakingly spent months assessing different brokers accounts. We collected over 1200 data points on ForexMart and Phoenix Markets. To simplify things, we analyzed everything for you and provide the main points in relevant blocks on this page.
Regulation alongside currency availability is important when deciding upon a broker. It is very important when selecting a broker like the ForexMart platform or Phoenix Markets, you can trust with your money with them. To finish off our comparison, let's look at the popular tools and features traders prefer side by side.
The ForexMart online trading platform gives traders from all over the world access to over 111
financial instruments including over 97 available instruments. There are over 10,000+ registered customers that have taken advantage
of the ForexMart platform.
ForexMart are regulated by Cyprus Securities and Exchange Commission (CySEC).
Phoenix Markets is a renowned Cyprus financial trading brokerage
established in 2013.
Phoenix Markets serves customers globally and are regulated by Cyprus Securities and Exchange Commission (CySEC).
Depending on the country you are trading from ForexMart may serve you from a
different business entity to comply with its financial regulators.
Phoenix Markets is listed as a publically traded company on a major stock market. As part of their regulatory requirements Phoenix Markets has to disclose a yearly report publically.
Because of this extra level of auditing and regulation Phoenix Markets can be considered trustworthy. ForexMart is listed as a publically traded company so are a reputable broker.
Benefits of ForexMart and Phoenix Markets Compared
Below we will give you a brief summary of the benefits ForexMart and Phoenix Markets offer side by side.
ForexMart offers a minimum deposit of 1 while Phoenix Markets have a 500 minimum deposit.
Why small deposits before trading are good and how ForexMart and Phoenix Markets compare
The first obvious reason is that you should only deposit what you can afford with ForexMart or Phoenix Markets.
If you you have a lower budget, the broker that offers the lowest deposit option will be more attractive. ForexMart has a min deposit of
1, while Phoenix Markets has a min deposit of 500.
The other reason is because when speculating on riskier but potentially more rewarding financial instruments you should look to speculate with only a small percentage
of your allocated trading funds.
Don't let a higher minimum deposit offered by either ForexMart or Phoenix Markets totally put you off a broker, look at the overall trading features you are getting from the trading platform.
Often a high minimum deposit gives greater choice in the financial
assets and trading platform research features.
ForexMart allows traders to trade up to 111 financial instruments
while Phoenix Markets have around 97 on their trading platform.
The more instruments available on ForexMart and Phoenix Markets trading platforms
the more potential financial instruments you can buy or sell for your portfolio.
It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities
and you seriously do not want to miss out on a trading opportunity due to the limitations of ForexMart or Phoenix Markets.
The ForexMart trading platform has 53 stocks listed
while Phoenix Markets has 379 stocks listed.
ForexMart allows retail traders to trade the following assets Forex trading, CFD trading, Social trading, Share Dealing, Crypocurrency trading on the ForexMart MT4,WEB,desktop trading platforms.
Alternatively Phoenix Markets allows retail traders to trade Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing on the Phoenix Markets MT4,mac,Android.iPhone/iPad trading platforms.
Compare ForexMart and Phoenix Markets in more detail below.
Drawbacks of ForexMart and Phoenix Markets Compared
Below we compare what drawbacks ForexMart and Phoenix Markets have side by side.
There are many potential drawbacks with some brokers. The first one is the potential limitations ForexMart and Phoenix Markets have. Generally speaking, the more things, you can invest in the better. The second thing is the trading fees and commissions you are paying with ForexMart vs Phoenix Markets. The higher the trading fees you pay will have more of an impact on any potential profits. Other important factors are the trading research tools, educational resources and the general usability of ForexMart vs Phoenix Markets.
BE, CA, IR, JP, KP, US, BA, ET, IQ, UG, VU, YE, AF, LA, TR, SY, IL
US, IR, CA, NZ, JP
ForexMart Vs Phoenix Markets Available Financial Markets
Variety is the spice of life and that certainly applies to financial markets. A diverse investment portfolio is always recommended. If your investment portfolio is diverse, it helps to protect your investments overall from huge downswings that can occur in one potential market. For example, when an aeroplane stock goes up, other aeroplane stocks usually follow suit. This of course is the positive side of putting all your eggs in one basket.
When the opposite happens this could spell disaster! The best portfolios cover for potential danger and involve businesses and stocks from all walks of life. Having more tradeable assets, commodities and assets available to you on the ForexMart and Phoenix Markets platforms will help you build a more diverse investment portfolio.
ForexMart Vs Phoenix Markets Cryptocurrency Trading
Crypto currencies have been booming since the invention of Bitcoin and with good reason. Cryptocurrencies have turned double digit investments into millions. Extreme examples of course but this can be rarely said of any stock that exists.
Bitcoin is by far the most famous example of cryptocurrency but there are thousands of altcoins that are on the market that have the potential to rise in a similar fashion. Like stock markets, if Bitcoin rises, then altcoins follow suit.
Cryptocurrency can easily be labelled as a higher risk investment. This is because cryptocurrencies fluctuate often with extreme highs and extreme lows. If cryptocurrencies represent a fraction of your portfolio or you want to invest a small fraction of your trading budget to see what happens it could potentially be one of your most exciting trades ever depending on how the markets are. Please note that cryptocurrency availability with ForexMart, Phoenix Markets and all brokers is subject to regulation.
We compare ForexMart vs Phoenix Markets Crypto options below side by side.
Allows Cryptocurrency Trading (availability subject to regulation)
BTC, BCH, ETH, LTC, XRP
BTC, XRP, LTC, ETH
BTC, BCH, ETH, LTC, DASH, XRP, EOS, EMC, NMC, PPC
ForexMart Vs Phoenix Markets Commission and Fees
knowing your trading and commission fees with ForexMart vs Phoenix Markets is extremely important.
For the majority of the ForexMart 111 financial instruments
and Phoenix Markets 97 available financial
The price you are being presented with will factor in the fee the broker takes. For example, if a financial asset is at 79.6. You might have to pay 79 to enter. Therefore, you will start with a small loss with both ForexMart and Phoenix Markets. The bigger the fee, the bigger the issue this is. Most alarmingly though some financial assets occur a charge for you to hold on to the asset overnight or over the weekend. This is usually true with commodities and stocks that you are using leverage on. Please check what your fees are with ForexMart and Phoenix Markets before you invest because it is crucial that you know exactly what you are paying.
You ideally want to choose a broker that does not charge to much for withdrawal fees. This is simply because this will eat into your profits. This is especially true if you have a low budget and do not intend to invest so much. You want the withdrawal fee to be less than one percent of what you are withdrawing but more ideally $5 to $10.
Your location or residence will have an impact on your potential ForexMart and Phoenix Markets fees of course. Make sure you do your research and check the commission and fees with both ForexMart and Phoenix Markets before you invest anything.
Some brokers will charge inactivity fees. As the name suggests this occurs when you have been inactive on your account for a certain period.
Also with ForexMart or Phoenix Markets be aware of or 3rd party payment provider fees and currency conversion fees.
ForexMart does not charge inactivity fees, while Phoenix Markets does charge inactivity fees.
You should receive plenty of notifications warning you about any potential deadlines and you can make a decision to act accordingly, continuing to use your account or closing it. Usually the fees are very small so there is no need to be alarmed especially when the problem is easily avoided.
When you deposit money to a broker like ForexMart or Phoenix Markets you might need to pay deposit fees. The lower the better. Most preferably of course you would have to pay nothing for this. If this is the case it can be a big problem. Constant deposits will eat into your profit so this will take some considering before you sign up.
Let’s see how ForexMart vs Phoenix Markets compare side by side for commissions and fees.
We live in an accessible world these days. Therefore, your trading platform has to consider this. Having the ability to trade with the click of a button is essential and allows you to make trading decisions on the ForexMart and Phoenix Markets platforms when it is convenient to you. Without this, you will not have the opportunity to take advantage of every situation that may or may not occur in the financial markets.
Some brokers offer there own bespoke trading platforms, so if a particular broker does not offer the trading software you are looking for, their proprietary trading platform may be better. You will need to test this out yourself with an ForexMart or Phoenix Markets demo account.
Being able to trade on your mobile can be very useful. Why is this? Well, the stock market sees market movement every second, if you are not near your desktop computer you will probably be near and have access to your phone. This way you will be able to take advantage of all the opportunities that present themselves. For example, a stock might move to an all-time low when you are out. In this instance you would have missed out on some profit.
If you have an iPhone you will need an IOS Apple mobile trading app. Thankfully these are very common and if a broker has an application, they are almost always available on an iPhone.
Similarly if your phone requires an android app it is good to check if the broker offers an app that supports Android devices.
If you use Microsoft Windows tablets or phones you will also need to check if the ForexMart and Phoenix Markets have trading apps that are compatible.
ForexMart Vs Phoenix Markets Trading Account Types Offered
ForexMart Vs Phoenix Markets Demo Account
A demo account is an extremely useful account for people with no trading experience. This way you are risking none of your money and testing out your trading skills in a safe environment. For people who have next to no knowledge of trading, we recommend signing up with an ForexMart and Phoenix Markets demo account fully.
ForexMart Vs Phoenix Markets Micro Account
A micro account allows traders to place money on the Forex market. This is best for people who like to make risk averse trades and focuses mostly on foreign exchange currency. This is usually used by beginners.
ForexMart and Phoenix Markets do not offer Micro accounts.
ForexMart Vs Phoenix Markets Standard Account
A standard account is available to more experienced traders. This account allows users to trade on stocks, commodities, crypto etc. To open one of these retail investor accounts, users will have to trade with at least $100. This is the account the majority of people will seek to use.
Both ForexMart and Phoenix Markets do offer clients Standard accounts.
ForexMart Vs Phoenix Markets MAM Account
What is a MAM account? MAM stands for a Multi-Account Manager Account. This is very useful for serious traders who want to use one account to place all of their trades. It is a sophisticated software tool that allows a single trader to execute block trades on all accounts operating under a master account.
ForexMart and Phoenix Markets do not offer clients MAM accounts.
ForexMart Vs Phoenix Markets ECN Account
An ECN account stands for Electronic Communications Network. This is an account for pure order-matching execution. This is a very sophisticated piece of software and please only try this after much research. The account provider will charge a fee as their commission for executing each trade as an alternative to increasing the raw spread artificially as a revenue method.
Both ForexMart and Phoenix Markets do offer clients ECN accounts.
ForexMart Vs Phoenix Markets Islamic Account
An Islamic account is for people who respect the Quran and would like to invest in the Islamic stock market. This might seem very niche, but it is essential for those concerned as it follows certain ethics in relation to the principles of Islam. They are also referred to as swap-free accounts.
Both ForexMart and Phoenix Markets do offer clients Islamic accounts.
ForexMart Vs Phoenix Markets STP Account
Straight Through Processing or STP is where a requested client's trade orders are sent directly to the markets. STP brokers aim to reduce all conflicts of interest. STP is a non-dealing desk trading method aimed mainly at Forex traders.
Both ForexMart and Phoenix Markets offer clients STP accounts.
ForexMart Vs Phoenix Markets Managed Account
A managed account is an investment that is owned by a single investor. However, the money-making decisions are in somebody else’s hands. These have become extremely popular in the last decade or so and with good reason. The money needed to invest in such accounts is usually larger as you must consider the fee for the finance professional. However, there are certain brokers that offer variations of managed accounts where you can pay as little as $200.
ForexMart and Phoenix Markets do not offer clients Managed accounts.
ForexMart Vs Phoenix Markets Withdrawal and Funding Methods
ForexMart and Phoenix Markets have multiple deposit and withdrawal options. Funding and withdrawing from your ForexMart and Phoenix Markets account to your chosen payment method should be straightforward. Lets see how ForexMart and Phoenix Markets compare with each other. Be aware that depending on the payment method you decide upon there may be additional processing fees from your payment provider or bank for processing and converting your funds. Not all potential fees will come from ForexMart or Phoenix Markets.
Bank Transfer, Visa, MasterCard, Skrill, Neteller, PayCo, fasaPay, Qiwi, Union Pay, AliPay,
Credit cards, Skrill, Neteller, Bank Transfer,
Credit cards, Debit Cards, PayPal, Wire Transfer, Neteller, Neteller VIP, Skrill, UnionPay, Bpay, FasaPay, Broker to Broker, POLI, Thai Internet Banking, RapidPay, Klarna, Vietnamese Internet Banking, Online Digital Wallets, USDT (Tether),
ForexMart Vs Phoenix Markets Customer Support Compared
Customer support is essential when trading. Even professional traders will eventually need the help of ForexMart or Phoenix Markets support. This is especially true of traders who are starting from a position of little knowledge. If you are starting out you will want to make sure the ForexMart and Phoenix Markets support is always available when you need them. ForexMart and Phoenix Markets customer support is not just useful. It is crucial to your trading success!
ForexMart Vs Phoenix Markets Live Chat
Live chat is important for several reasons. This is because when you encounter a problem it is nice to know that the problem has the potential to be sorted out then and there. Also speaking to a person live is much less frustrating than speaking to someone over the course of several emails.
Both ForexMart and Phoenix Markets offer livechat support.
ForexMart Vs Phoenix Markets Email Support
When trading CFDs, stocks, commodities, currencies, cryptocurrencies or any other financial instruments with either ForexMart or Phoenix Markets you will find Email support is also very useful. Sometimes you might have a more complex question that requires a specific part of the ForexMart or Phoenix Markets support team to give a satisfactory answer to. This is where email support with ForexMart and Phoenix Markets will be needed.
Both ForexMart and Phoenix Markets offer email support.
ForexMart Vs Phoenix Markets Phone Support
Although most queries can be resolved with the need of a phone call, it is nice when we can actually explain ourselves with a live human being at either ForexMart or Phoenix Markets. We can get straight to the point and this can save us from a lot of time and frustration.
Both ForexMart and Phoenix Markets offer phone support.
Lets see how ForexMart and Phoenix Markets customer support compare side by side.
ForexMart Vs Phoenix Markets Regulation and Licensing
Never trade on a market that is not sufficiently regulated. This should go without saying when submitting your bank card information or investing money on any website. You need to make sure with certainty that your money is held with a regulated brokerage. Checking to see if ForexMart and Phoenix Markets are regulated is not a hard task. The more reputable and mainstream brokers will proudly display their regulation certificates on their site and if you cannot see that ForexMart or Phoenix Markets have these in place please be extremely cautious before you proceed with them.
We compare ForexMart Vs Phoenix Markets financial regulation and licensing side by side below.
ForexMart Vs Phoenix Markets Risk Management Features
When trading with either ForexMart or Phoenix Markets you will want to understand and make full use of all the
risk management features on your ForexMart or Phoenix Markets trading platforms.
We compare side by side the trading risk management features offered by ForexMart and Phoenix Markets below.
ForexMart Vs Phoenix Markets Hedging
What is hedging? Have you ever heard of the expression ‘to hedge one’s bets’? This basically means to not speculate solely on
the outcome of one event as it could be potentially risky holding all your assets in one place.
Hedging in finance means being able to tactically trade in such a way as you are protecting yourself from huge risk.
This can be done for example by speculating on a stock to rise and speculating against it to rise by using different amount or different amounts of leverage.
ForexMart does offer clients hedging, while Phoenix Markets does not offer clients hedging.
ForexMart Vs Phoenix Markets Stop Loss
Stop loss orders are very useful for more volatile investments. Especially when you are speculating on a stock or Forex currency pair.
In a normal trade you cannot lose more than what you invested but when you are using leverage this is not the case.
Under these terms it is always good to set a stop loss so you can protect yourself from having any vicious results.
Both ForexMart and Phoenix Markets do offer clients stop losses.
ForexMart Vs Phoenix Markets Limit Orders
Every broker should give its users an opportunity to place a limit order.
This is when you have an order in place to buy a financial instrument at a specific price.
When the financial asset hits a set price your trade will be executed. This is extremely useful as it will give you the opportunity to buy a stock at a better price!
It would be very time consuming to wait for a stock to fall to a price you would ultimately be satisfied by. Therefore, you can already imagine what help limit orders can be in your trading career.
Both ForexMart and Phoenix Markets do offer clients limit orders.
ForexMart Vs Phoenix Markets Negative Balance Protection
Negative balance protection is there to protect its customers. Customers do indeed need protecting as trading can be a volatile business and not everybody who invests knows the full consequences of their trade.
The way negative balance protection works is like this: Say you invest $50 but your trade has the potential to lose $125 because you have used leverage. To do this trade you will need $125 available in your account.
This is great as it would be very unfortunate if you recieved an unexpected bill from a broker one day.
ForexMart does offer clients negative balance protection, while Phoenix Markets does not offer clients negative balance protection.
We hope this ForexMart Vs Phoenix Markets guide has helped you decide who is best to trade without of ForexMart and Phoenix Markets.
Firstly when you are looking to trade it is essential that you can guarantee that your money is held in a segregated bank account with ForexMart or Phoenix Markets. Therefore, please bear this in mind when you sign up with ForexMart or Phoenix Markets.
Also, before you sign up with online brokers like ForexMart or Phoenix Markets, make sure you know what you are doing. Simple advice we admit but we know from experience how many people decide to start trading and then ask questions later. To put it in the simplest terms possible before you invest any money into something please take note of exactly what you are doing.
Beware of the risks that come with trading. The financial markets can be volatile and investments can go down as well as up. Educate yourself, make full use of all ForexMart and Phoenix Markets educational resources and financial research tools. If you are new to trading sign up for a demo account with ForexMart and Phoenix Markets to find which suits you and your trading style.
Some of you might be thinking about what we mean when we say ‘trading style’. Here are a few examples. A day trader will look to open positions and close them on the same day. This will require a broker that specialises in this. To do this with some brokers would be a bad idea because of the commission and fees involved. Check if ForexMart and Phoenix Markets fees match your trading requirements.
Alternatively, you could be on the extreme end of this scale and decide to wait years before you close your investments if your investment strategy is more long term.
ForexMart and Phoenix Markets Alternatives
If ForexMart and Phoenix Markets are not what you are not quite what you are looking for we list some of the best ForexMart and Phoenix Markets alternatives below.
Other ForexMart and Phoenix Markets Vs Comparisons
If you are still looking for an alternative to ForexMart and Phoenix Markets and want to see how ForexMart or Phoenix Markets compares Vs other brokers check out the ForexMart Vs and Phoenix Markets Vs list below.
ForexMart Vs Alternatives
Still not happy have a look at some of our alternative ForexMart Vs side by side comparisons below
ForexMart Vs Phoenix Markets Frequently Asked Questions
We answer some of the most frequently asked ForexMart Vs Phoenix Markets questions below.
Is ForexMart any Good?
Knowing that a broker is legit is the first thing you should check before signing up to a broker.
Is ForexMart legit? – ForexMart are regulated by Cyprus Securities and Exchange Commission (CySEC)
and have been in business since 2015
Is Phoenix Markets any Good?
Phoenix Markets are regulated by Cyprus Securities and Exchange Commission (CySEC) and have been in business since 2013.
Which is better ForexMart or Phoenix Markets?
ForexMart and Phoenix Markets do not have a high rating so we recommend trading with a more reputable alternative broker.
Is ForexMart a con?
ForexMart is regulated by Cyprus Securities and Exchange Commission (CySEC) and have been in business since 2015.
ForexMart is most definitely not a con as they are regulated by major financial regulators.
Is Phoenix Markets a con?
Phoenix Markets is regulated by Cyprus Securities and Exchange Commission (CySEC) and have been in business since 2013.
Phoenix Markets is most definitely not a con as they are regulated by major financial regulators.
What happens if ForexMart or Phoenix Markets go bust?
ForexMart and Phoenix Markets are regulated which means that as part of their regulatory obligations ForexMart and Phoenix Markets have to offer a certain level of financial protection to their clients. ForexMart and Phoenix Markets should by law keep client funds separate from ForexMart and Phoenix Markets funds. If either ForexMart or Phoenix Markets goes bankrupt they should not have access to your money. Customers accounts should be segregated. A financial services compensation scheme differs from country to country so check this on the ForexMart and Phoenix Markets websites and regulators.
Are ForexMart or Phoenix Markets good for beginners?
ForexMart and Phoenix Markets offer low deposits and access to a selection of market insights and news resources. Both ForexMart and Phoenix Markets offer demo accounts. This is a big plus for ForexMart and Phoenix Markets as it shows on they have an interest in their customers.