Advertising Disclosure
Written by:
Crispus Nyaga
Edited by:
George Rossi
Fact checked by:
Stella Mwende
Updated:
Leverage: 1:30| 1:3000
Regulation: CySEC, SVG FSA
Min. Deposit: €200
HQ: Cyprus
Platforms: MT4
Found in: 2015
| Regulation and Security | 4.6 / 5 |
| Account Types and Benefits | 4.5 / 5 |
| Cost Structure and Fees | 4.4 / 5 |
| Trading Platforms and Tools | 4.2 / 5 |
| Trading Instruments | 4.2 / 5 |
| Deposit and Withdrawal Options | 4.5/5 |
| Customer Support and Responsiveness | 4.6 / 5 |
| Research and Education | 4.2 / 5 |
| Portfolio and Investment Opportunities | 3.9 / 5 |
| Account opening | 4.6 / 5 |
| Additional Tools and Features | 4 / 5 |
ForexMart is committed to offering high-class trading software, providing a good trading experience, protecting clients’ accounts against any fraudulent activity, and equipping traders with the comprehensive knowledge needed for successful trading. ForexMart provides the market-popular MetaTrader 4, one of the leading platforms for trading forex online.
ForexMart provides a wide array of financial instruments to help its clients create a diversified portfolio and access various financial assets, including Forex, Energy, Stocks, Indices, Spot Metals, Commodities, and Cryptocurrencies. The customer support team is available 24/7 to assist its clients with trading issues and questions.
Despite the favorable conditions the broker has offered since its operation, CySEC informed the public that ForexMart, as a part of the brokerage group Instant Trading EU Ltd, which also operates InstaForex and InvestCity Retail FX brands, didn’t follow the necessary regulatory requirements as stated in the license, thus the company has to take corrective actions in relation to the services provided.
At present, ForexMart operates under the oversight of CySEC, in compliance with strict laws and guidelines, and seems to have solved the previous regulatory issues.
As we found, ForexMart is a CySEC-regulated broker, providing access to various financial assets and contributing to trading through the advanced MT4 platform. The broker offers three spread-based accounts that offer floating or fixed spreads. The conditions depend on the account type and the entity traded. The broker offers a €200 minimum deposit for its Basic account, which is an average requirement and may suit traders of different levels. Clients can also request a professional trader status, which will open more opportunities for traders. Another advantage we noticed is the 24/7 customer support.
However, the broker offers only CFD products, making it suitable for short-term trading rather than traditional investments. Besides, ForexMart does not provide comprehensive education to support beginner traders in their journey.
| Advantages | Disadvantages |
|---|---|
| CySEC regulation | No traditional investment opportunities |
| International entity | Limited range of trading platforms |
| The MT4 platform availability | Limited range of instruments |
| Floating and fixed spreads | Differences in conditions between the entities |
| Beginner and professional trading | |
| A demo account availability | |
| 24/7 customer support |
ForexMart is regulated by the CySEC, ensuring secure and reliable services. The broker offers access to a good range of financial assets, supporting trading through the popular MT4 platform. Overall, the offering is favorable. Here is a list of the main aspects of ForexMart for a quick look.
| 🗺️ Regulation | CySEC, SVG FSA |
| 🗺️ Account Types | Basic, Gold, Platinium |
| 🖥 Trading Platforms | MT4 |
| 📉 Trading Instruments | Forex, Energy, Stocks, Indices, Spot Metals, Commodities, and Cryptocurrencies |
| 💳 Minimum deposit | €200 |
| 💰 Average EUR/USD Spread | 4 pips |
| 🎮 Demo Account | Available |
| 💰 Account Base currencies | EUR, USD, CZK |
| 📚 Trading Education | Provided |
| ☎ Customer Support | 24/7 |
Based on our findings, ForexMart comes up with a good proposal package and meets very different trading expectations. The broker includes diverse features and opportunities, and is especially favorable for the following:
ForexMart is a Forex and CFD broker, offering a favorable proposal for inexperienced and professional traders alike. The broker follows strict regulatory rules and guidelines, offering its services to European traders under its CySEC license and international clients under the SVG FSA license. The conditions between the two entities are different, including the applicable fees, account types, and available leverage ratios.
The instrument range is limited to over 100 products across Forex, Energy, Stocks, Indices, Spot Metals, Commodities, and Cryptocurrencies. Under the CySEC entity, the broker offers only spread-based products, with average spreads much higher than the market standards (4 pips). Clients can conduct trades through the MT4 platform via desktop, web, and mobile options. The provided research and educational materials are good, but still not extensive enough to meet beginners’ expectations.
Now as a regulated broker, ForexMart offers quite competitive trading conditions suitable for traders at all levels. Despite previous regulatory issues, ForexMart provides a consistent proposal that ensures the safety of funds for its clients through various security measures, yet we would advise to sign with EU entity for an extra layer of protection, since trading only via the International branch is definitely higher risk for trading malpractice.
Clients conduct their trades through the highly-demanded MT4 platform, accessing over 100 products across multiple financial markets, so if you prefer other software or a larger group of trade products, it’s better to select other proposal. ForexMart additionally offers copy trading to its international clients and an essential feature, VPS hosting and some more tools. The education and research sections include the Economic calendar, market analysis, financial news section, and a glossary, so is a suitbale opportunity for beginners in trading.
| ForexMart is an excellent Broker for: | - International traders - European clients - MT4 platform enthusiasts -Traders looking for high leverage opportunities - Copy traders - Beginner and Advanced traders - Clients prioritizing tight regulations - Users looking for multiple deposit and withdrawal methods |
| ForexMart is not the best for: | - Traders looking for an extensive range of instruments - Clients who prioritize top-tier regulations - Cost-conscious clients looking for very low spreads - Traditional investors - Clients looking for MAM and PAMM accounts |
Score – 4.6/5
ForexMart is the trading name of a regulated Cyprus Investment Firm, Instant Trading EU Ltd, which is part of the brokerage group and holds a license from CySEC.
The broker ensures a fair and transparent trading environment under its CySEC license. However, it is essential to note that the company faced many issues in the past and received an administrative fine of €130,000 for unfair acts.
We found that ForexMart follows strict industry norms, including client fund protection and segregation from company funds.
According to our findings, ForexMart has been actively operating since 2013. It has earned a license from the CySEC and follows regulatory guidelines imposed by MiFID II. However, along its journey, the broker was fined by the CuSEC for non-compliance with the set standards. Based on this, we previously placed the broker in our list of unregulated brokers.
The current research shows that ForexMarts has enhanced its services and adheres to rigorous regulatory rules. As to the client feedback, we detected both positive and negative reviews from traders.
From our side, ForexMart offers transparent and clear services. However, under different entities, the trading conditions and safety measures vary, so clients should be careful.
Score – 4.5/5
We have carefully considered the broker’s available account types and the conditions they offer. First, we noticed that the account types proposal differs based on the entity.
The conditions, fee structure, and leverage availability completely differ based on the jurisdiction. Here, we will elaborate on the account types under the CySEC entity:
Based on our research, ForexMart offers its services globally. Due to its CySEC license, the broker is available to European clients, and its international license ensures the broker’s global availability. However, below you can see the list of countries where ForexMart’s services are unavailable:
Score – 4.4/5
According to our analysis, ForexMart offers favorable and transparent trading conditions, including competitive spreads and pricing for popular financial products. Spreads and commissions depend on the account type chosen, the instrument traded, and the entity. We recommend that traders carefully review the broker’s fee structure, terms, and conditions based on the jurisdiction before opening an account.
Based on our research, ForexMart offers fixed spreads for all of its account types under the CySEC entity. For the Basic account, the spreads are fixed and much higher than the market norm, starting at 4 pips. The Gold account offers lower spreads of 2 pips, and the Platinum account 1.5 pips accordingly.
However, as the global entity offers different account types and fee structures, the applied spreads also differ, and in most cases, are in line with the market average. Besides, the Zero Spread account is based on commissions.
ForexMart does not offer a commission-based account under its CySEC entity; all the fees are included in spreads. However, for its international clients, the broker offers different account types with different fee structures. We found that for the Zero account under the global entity, the broker applies $3 per side per lot, combined with spreads from 0.2 pips.
ForexMart offers competitive and transparent fees for its account types. The broker mostly discloses its spreads, commissions, and other applicable fees, making the proposal clear and predictable. It is essential to understand that the trading charges depend on the entity with which traders open an account.
Under the international entity, clients can access lower trading fees, with average spreads of 1.2 pips. However, for European clients, spreads are much higher (4 pips for the Classic account). Furthermore, clients can open a commission-based account only under the global entity. The commissions are reasonable ($3 per side per lot).
| Asset/ Pair | ForexMart Spread | StarTrader Spread | IUX Spread |
|---|---|---|---|
| EUR USD Spread | 4 pips | 1.3 pips | 0.2 pips |
| Crude Oil WTI Spread | 170 | 1 | 3 |
| Gold Spread | 160 | 1 | 1.4 |
As we found, ForexMart does not apply any transaction fees for deposits. However, for withdrawals, there are fees based on the funding method used. Also, we found that ForexMart charges an inactivity fee of $5 for accounts that have been dormant for 6 consecutive months.
Score – 4.2/5
The trading platform the broker provides is the widely used MetaTrader 4, available through desktop, web, and mobile options. The MT4 platform is well-known in the industry, known for its cutting-edge features, user-friendly interface, and extensive trading tools.
| Platforms | ForexMart Platforms | StarTrader Platforms | IUX Platforms |
|---|---|---|---|
| MT4 | Yes | Yes | No |
| MT5 | No | Yes | Yes |
| cTrader | No | No | No |
| Own Platforms | No | Yes | Yes |
| Mobile Apps | Yes | Yes | Yes |
ForexMart clients can access their accounts through the broker’s web platform. The MT4 platform supports the web version, enabling clients to trade via any browser. The web platform offers all the essential features for efficient trading, holding many advantages. The web version is user-friendly and easy to navigate, allowing great functionality and flexibility of trades.
Based on our research, ForexMart offers only the popular MT4 platform for trades. The platform is easy to use and can be a great fit for beginner traders. It still offers advanced charting, in-depth technical analysis, trading signals, alerts, and VPS for its international clients. Traders can also benefit from EAs to automate their trades.
In addition to an impressive number of technical indicators, charts, and other analysis tools, the platform also guarantees safety. It is available for macOS desktop downloads, as well as for Android and iOS mobile trading.
We found that ForexMart does not have the advanced and innovative MT5 in its offering. However, it provides access to one of the most sought-after platforms in the market, MT4, which beginner traders highly prefer.
In addition, the broker does not offer other advanced options, such as cTrader, TradingView, or a proprietary platform.
ForexMart offers a perfect opportunity for mobile traders, allowing them to trade through the MT4 mobile app. The platform allows clients to trade on the go from anywhere in the world. Traders can access their accounts through a user-friendly interface, access real-time data, and use risk-management tools. The app is available through iOS and Android devices, making it easily accessible.
Our testing of the ForexMart platforms revealed that the broker offers the advanced MT4 platform, offering the desktop, web, and mobile versions. The availability of different platform options enables traders to access the market easily. Yet, although ForexMart does not offer alternative platforms, such as cTrader, TradingView, or MT5, its proposal still meets the needs of different traders and ensures a flexible and profitable trading experience.
As we found, ForexMart does not provide built-in AI tools. What ForexMart offers is integrated algorithmic strategies through its MT4 platform.
Score – 4.2/5
We found that ForexMart provides access to popular trading assets, including Forex, CFDs, Commodities, Indices, Stocks, Energies, Metals, and Cryptocurrencies. The broker offers about 60 major, minor, and exotic currency pairs with favorable conditions. Although the number of available instruments is somewhat limited, clients can still access the most popular precious metals, including gold, silver, platinum, palladium, and copper.
To see how traders can diversify their portfolios with ForexMart, we explored the instrument availability further. As we revealed, the broker offers over 100 tradable products across a good range of financial assets. Although traders can access various financial markets, the number of products is limited to the most popular products. The broker is a favorable choice for Forex traders as it offers over 60 currency pairs. The range of available cryptocurrencies is also impressive, including Bitcoin, Ethereum, and many different altcoins.
Overall, the products are CFD-based, which restricts the opportunities for long-term traders and traditional investors.
Leverage is an essential tool that enables traders to enter the market with a lower initial investment. Yet, understanding the associated risks in leveraged trading is fundamental.
ForexMart’s leverage ratio depends on its various jurisdictions:
Score – 4.5/5
ForexMart does not charge deposit fees. However, payment systems may charge commissions for their services. The funding method availability may also depend on the jurisdiction and the residency of the client.
The options of funding include the following methods:
To open a live trading account with the broker, clients need to deposit €200 as an initial deposit for the Basic account under the CySEC entity. However, for the Gold and Platinum accounts, the minimum deposit is very high.
ForexMart offers various withdrawal methods for convenient and swift processing of the funds. The withdrawal fees vary depending on the payment method. All withdrawal charges are listed on the broker’s website.
Score – 4.6/5
The broker offers 24/7 customer support through live chat, email, Viber, WhatsApp, Telegram, and Facebook Messenger. Besides, clients can communicate with trading experts who assist with technical support, analysis recommendations, general inquiries, and other issues.
By testing ForexMart’s customer support, we found various communication options that allow traders to receive direct and quick answers.
Score – 4.2/5
ForexMart offers various research tools to accommodate its clients’ trading experience. In addition to the extensive features available on the MT4 platform, clients can access the following through the broker’s website:
The broker does not include extensive learning materials, such as educational videos, informative articles, and webinars.
ForexMart is an international broker with favorable services for both beginners and professionals. With different account types, traders can choose the most suitable option that will meet their trading expectations. The broker also provides a demo account and a few research and educational materials to assist its clients’ knowledge and skill development. The provided trading glossary is helpful for clients who are unfamiliar with complex trading language. The low minimum deposit requirement is another advantage that will attract cost-conscious traders.
Score – 3.9/5
We have carefully considered ForexMart’s offering of the available products and assets to see how it helps traders expand their portfolios. What we found is over 100 tradable products across multiple financial markets. However, this range allows access to the most popular instruments only. Yet, the availability of currency pairs and cryptocurrencies is rather impressive.
Despite this, ForexMart’s tradable products are based on CFDs, limiting long-term trading and traditional investments.
We also found that for its international traders, the broker offers an alternative investment option:
Score – 4.6/5
A demo account allows clients to practice their skills before switching to live trading. A demo account provides virtual funds and creates a trading environment similar to live trading. To open a demo account with ForexMart, traders should follow the steps below:
Opening a live account with the broker is easy and quick, requiring traders to follow a few simple steps and provide documents for identity verification:
Score – 4/5
The broker’s platform already provides advanced and extensive analysis tools and features. On the broker’s website, we found a few research tools, such as an economic calendar, calculators, and market analysis tools.
It is an essential part of our review to compare a broker to other brokers in the market to estimate how it complies with the adopted standards. After reviewing the various aspects of trading with ForexMart, we compared them to those of its competitors.
To start, we reviewed the regulatory adherence and standing. We found that despite ForexMart’s previous inconsistency with CySEC’s stringent regulations, the company still holds a valid license from CySEC and lawfully adheres to the guidelines. Axi is another broker with oversight from CySEC, yet it is also regulated by the top-tier FCA and ASIC, ensuring high security and stringent compliance with laws.
Further, ForexMart supports the MT4 platform through the desktop, web, and mobile versions. The broker also ensures access to over 100 products across popular financial assets. As we found, FxPro offers a wider selection of platforms, including MT4, MT5, cTrader, and FxPro WebTrader. Besides, the range of instruments from FxPro is also more extensive (over 2,100 financial products).
The education materials provided by ForexMart are also limited, especially when compared to the Pu Prime offering, which includes various courses, articles, webinars, eBooks, and more.
| Parameter | ForexMart | FXTM | Pu Prime | EC Markets | Axi | FXCM | FxPro |
| Spread-Based Account | Average 4 pips | Average 1.5 pips | Average 1.3 pips | From 1.1 pip | Average 1.2 pips | Average 1.3 pips | Average 1.4 pips |
| Commission-Based Account | 0.2 pips +$3 | 0.0 pips + $3.5 | 0.0 pips + $3.5 | 0.0 pips + $2.5 | 0.0 pips + $7 | 0.2 pips + $0.05 per 1K lot | 0.0 pips + $3.5 |
| Fees Ranking | Average | Average | Average | Average | Average | Average | Average |
| Trading Platforms | MT4 | MT4, MT5 | MT4, MT5, WebTrader, Pu Prime App | MT4, MT5 | MT4, Axi Trading App, Axi Copy Trading App | MT4, Trading Station, ZuluTrade, TradingView Pro, NinjaTrader, Capitalise AI | MT4, MT5, cTrader, FxPro WebTrader |
| Asset Variety | 100+ instruments | 1000+ instruments | 1000+ instruments | 150+ instruments | 220+ instruments | 200+ instruments | 2,100+ instruments |
| Regulation | CySEC, SVG FSA | FCA, FSC, CMA | ASIC, FSCA, FSC, FSA | FCA, ASIC, FSCA, FSA, FSC, FMA | ASIC, FCA, CySEC, DFSA, FSA | FCA, ASIC, CySEC, FSCA, FSA, ISA | FCA, CySEC, FSCA, SCB, FSA |
| Customer Support | 24/7 | 24/5 | 24/7 | 24/5 support | 24/5 | 24/5 | 24/5 support |
| Educational Resources | Good | Good | Excellent | Good | Good | Excellent | Excellent |
| Minimum Deposit | €200 | $200 | $20 | $10 | $0 | $50 | $100 |
Based on the details we have collected regarding ForexMart, there were significant concerns about the broker’s credibility in the past. We found that ForexMart was fined by CySEC for the inconsistency with its rules and guidelines. However, at present, ForexMart continues to hold a valid license from CySEC and follows the necessary guidelines.
ForexMart supports the market-popular MT4 platform, which stands out for its extensive features and tools for an efficient trading experience. Under the global entity, clients can also profit from copy trading.
As we have found, ForexMart offers over 100 instruments across Forex, Metals, Indices, Commodities, Stocks, and Cryptocurrencies. The costs are mostly average, and clients can use high leverage through the international entity. However, the broker does not support traditional investment options, offering only CFD-based products.
Another advantage is the variety of accounts, offering different fee structures and conditions. Please note that the availability of account types varies depending on the entity. The conditions are also different across jurisdictions. For instance, the European clients can use leverage as high as 1:30, while international clients are eligible for leverage up to 1:3000.
Ultimately, our testing of the education and research sections revealed a few materials and resources developed to support traders on their journey. The 24/7 customer support is another advantage that traders will benefit from.
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