- Company name: Instant Trading EU Ltd
- Registration Address/ License: Limassol, Cyprus. Regulated by CySEC – registration no. 266/15
Is ForexMart a regulated forex broker or a scam?
no, ForexMart broker is Non-Regulated Broker. It is NOT SAFE to trade.while we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.
ForexMart is the trading name used by a regulated Cyprus Investment Firm, which is also a part of the brokerage firms group with an authorization license from CySEC.
Nevertheless, the company had many issues with their clients in terms of the provided services and commitment to deliver fair trading conditions as well as the money management. Moreover, recently the ForexMart received an administrative fine of a €130,000 for unfair acts.
lack of professionalism and honesty according to the interest of their clients. CySEC informed the public that ForexMark 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 regulation requirement as stated in the license, thus the company has to take corrective actions in relation to the services provided.
And as considered by the FPA the operation under the same license that is used by numerous brands is a fair confirmation of the scam auctions. The company offering covers attractive investment opportunities to the traders of different size and strategy, along with the advanced bonus program to reward their clients.
However, it were some cases while the client couldn’t receive claimed bonus or had issues with the withdrawals, corrective action in relation to use of leverage and more.
Overall, we do not recommend traders to involve into the risk and invest into trading with ForexMart due to its confusing actions and gap in reputation, it’s better to choose the reliable broker from the list of the Regulated Brokers that complies with the strictest rules and requirements to operate client’s trading.
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