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ForexMart – review of a brokerage company, scam scheme, fraud signals
ForexMart is a brokerage company that is committed to providing an efficient trading platform, unmatched trade execution and competitive quotes to its clients. The service offers more than 100 different trading instruments, allowing traders to choose the most suitable options for their trading strategies. The leverage is 1:3000, which automatically signals the absence of a license from reliable auditors.
|Year of foundation
Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines
- Replenishment with zero commission
- Availability of demo account
- Have a cent account
- Complex verification steps
- Complex verification steps
- Offshore registration and unofficial license
|Types of accounts
Demo, Classic, Cent, Pro, Zero Spread
Visa bank card
Cryptocurrencies BTC, BTC Cash, Tether
From 0 to 1 points
ForexMart uses MetaTrader 4, developed by MetaQuotes Software Corp., which is the leading online Forex trading platform. The company adheres to regulatory requirements set in various countries and keeps customer funds separate from its assets to ensure their safety. 24/7 customer support is provided, five days a week. ForexMart offers a variety of educational materials and market analysis available free of charge for all types of traders.
ForexMart is regulated in various jurisdictions. The main office of the company is registered in Saint Vincent and the Grenadines (Tradomart SV Ltd., Reg No.23071, IBC 2015). ForexMart’s main goal is to provide reliable Forex trading services, ensure the security of clients’ funds, and provide educational resources to improve clients’ trading skills.
Information about the company’s launch date and management is not provided on the website. Please note that the anonymous authors claim extensive experience and professionalism. Without disclosing the names of those who plan to provide services and support users. Regarding licensing, seeing such leverage, you can forget that a normal auditor will issue a license.
Classification of trading accounts
ForexMart offers its clients various types of trading accounts, each with its own unique characteristics and trading conditions suitable for different trading strategies. Here’s a quick overview of the account types offered:
- Classic. Minimum spread: 1 pip. Average spread: 1.2 pips. Commissions: None. Minimum deposit: $15. Minimum lot: 0.01. Orders are executed on the market;
- PRO. Minimum spread: 0.6 pips. Average spread: 0.8 pips. Minimum deposit: $200. Minimum lot: 0.01. Market execution;
- Cents. Minimum spread: 1 pip, average 1.2. There is no commission, the threshold is $15. Minimum lot: 0.1 (cent lots);
- Zero Spread. Minimum spread: 0 pips (fixed). Average spread: 0.2 pips. Commission: From $6. Minimum deposit: $500. Minimum lot: 0.01. Order execution: Instant.
General conditions for all types of accounts:
- leverage from 1:500;
- Margin call / Stop Out levels: 30% / 10%
- maximum number of open transactions: 500, maximum volume – 10,000 lots
We did not find any footnotes to the license on the official ForexMart website. We automatically forget that transactions are brought to the real market. This means that the quotes are completely drawn. This is actually why traders can forget about honesty and transparency. Here we have classic swindlers.
ForexMart fake broker support
If you believe the statements on the website, technical support operates 24/5. The contact methods available are:
- email: [email protected];
- messengers: Telegram, Viber, WhatsApp;
- phone: + 442 030 976 697;
- back call.
Please note that there are quite a lot of emails on the site. Each is responsible for a separate segment. The problem is that the company in reality does not sell even half of what it claims.
The official ForexMart website provides information on methods of depositing and withdrawing funds. However, specific details about the available deposit and withdrawal methods, such as the names of payment systems or banks, are not provided. Here’s what is known. The broker does not charge a commission for replenishing funds. Transaction processing time is on average 24 hours. Some payment systems may have their own fees, but ForexMart strives to reimburse these costs to its customers.
The withdrawal fee depends on the chosen payment method. The processing time for withdrawal requests is also 24 hours on average.
For more detailed information about specific methods of depositing and withdrawing funds, as well as possible restrictions and conditions, it is recommended to contact ForexMar technical support directly. Next, user comments will be presented, allowing you to understand how things are in reality with the withdrawal of money.
It should be noted that a comprehensive analysis showed the real picture. That this is a swindler who, apparently, did not plan to be transparent at the start. The portal simply contains fake promises and statements that have nothing to do with reality.
Reviews about ForexMart
This is not to say that the project is very popular online. Otherwise there would be a lot more comments and mentions overall. From what we were able to find, we see that most often traders agree on the next cuisine.
The platform constantly freezes and slows down, which of course leads to losses and rapid loss of deposits. Verification is a separate topic for discussion; it takes a lot of time, but does not give any positive result.
The young ForexMart broker has apparently formed the image of a swindler, despite the fact that you can stumble upon custom comments.
Of course, we must not forget that there are mentions of bonuses on theforexmart.com website. At the same time, the office decided not to delve into the details of working out incentives. This creates a platform for further manipulation of traders. Taking into account the history of ex-users, the broker uses this.
We continue to remind you that chargeback exists. This option allows
return the money. The procedure is available to everyone, but is used by only a few. You can consult on the intricacies of the process. Just write to us.
Now regarding the signs of divorce that were discovered during the analysis of the organization:
- pregistration in an offshore zone. ForexMart is registered in Saint Vincent and the Grenadines, which is often associated with less regulation and control;
- lack of license. Despite claims to comply with global regulatory requirements, the company does not have a license, which is an important factor in the reliability and transparency of the broker;
- terms of trade and commissions. Despite offering attractive trading conditions such as low spreads and no commissions, trades are not released to the real market;
- Identity verification is required for withdrawals, and withdrawal fees can range from 1% to 2.5%. At the same time, there is not a word on the site about which payment directions are supported;
- Despite the presence of various communication channels, it is important to check how effectively and quickly the company responds to customer requests and problems.
Based on this, you should not even contact, let alone register on ForexMart, consult with a specialist before registering on the site and be careful when collaborating with companies that may have signs of unreliability. It is important to remember that investing is always associated with risks, and it is necessary to carefully study all aspects before deciding to cooperate with a broker.
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Customer reviews are one of the main criteria that influences the placement of a broker in the ranking of the best companies. See all reviews about ForexMart. You can on the company profile page.
Register on the Forex Rating website – it’s free and takes up to 5 minutes, taking into account the registration confirmation via the link that will be sent to your email. Detailed instructions on how to leave a review about ForexMart can be found here.
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