ForexMart Spreads, leverage, minimum deposit Revealed
WikiFX | 2024-12-30 15:08Abstract：ForexMart is a professional Forex broker dedicated to providing investors with advanced trading software and a superior trading experience. ForexMart is currently regulated by the Cyprus Securities and Exchange Commission (Regulation No. 266/15), the UK Financial Conduct Authority (Regulation No. 728735), and the Virgin Islands Financial Services Commission Offshore (Regulation No. SIBA/L/14/1082).
| ForexMartReview Summary | |
| Founded | 2007 |
| Registered Country/Region | Saint Vincent and the Grenadines |
| Regulation | Offshore Regulated |
| Market Instruments | Forex, Spot Metals, Indices, Cryptocurrencies, Energies, CFDs on Shares |
| Demo Account | ✅ |
| Leverage | Up to 1:300 |
| Spread | From 0.0 (EUR/USD) |
| Trading Platform | Online Forex Trading Platform |
| Min Deposit | $15 |
| Customer Support | Phone: + 442 030 976 697 |
| Email: support@forexmart.com | |
| Social Media: Facebook, Twitter | |
ForexMart Information
ForexMart is a broker incorporated in Saint Vincent and the Grenadines in 2007. The trading instruments it provides are mainly Forex, Spot Metals, Indices, Cryptocurrencies, Energies, CFDs on Shares. In addition, there are 4 account types to choose from. However, the current regulatory status of the brokerage is relatively poor, holding 3 licenses: FCA revoked the license, CYSEC determined the regulatory status as suspected cloning, and FSC determined it was subject to offshore regulation.
Pros and Cons
| Pros | Cons |
| The number of tradable instruments is large | The regulatory status is poor |
| 4 kinds of accounts | MT4/5 is not supported |
| Can be traded without commission |
Is ForexMart Legit?
| Regulated Country/Region |  |  |  |
| Regulated Authority | FCA | FSC | CYSEC |
| Regulated Entity | INSTANT TRADING EU LTD | Instant Trading Ltd, | Instant Trading EU Ltd |
| License Type | European Authorized Representative (EEA) | Retail Forex License | Market Making(MM) |
| License Number | 728735 | SIBA/L/14/1082 | 266/15 |
| Current Status | Revoked | Offshore Regulated | Suspicious Clone |
What Can I Trade on ForexMart?
ForexMart offers 60+ forex pairs, 200+ CFDs on shares, 4 spot metals, 19 cryptocurrencies, 3 energies, 13 indices.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Spot Metals | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| Energies | ✔ |
| CFDs on Shares | ✔ |
| Bonds | ❌ |
| ETF | ❌ |
Account Types
The 4 types of ForexMart accounts are Classic, Pro, Cents, Zero and Spread. Their minimum deposit ranges from $15 to $500. Among them, the maximum leverage is 1:300.
| Account Types | Classic | Pro | Cents | Zero Spread |
| Min Spread (pips) | 1 | 0.6 | 1 | 0 |
| Average Spread (pips) | 1.2 | 0.8 | 1.2 | 0.2 |
| Commissions | No commissions | No commissions | No commissions | From $6 |
| Min Deposit | $15 | $200 | $15 | $500 |
| Min Lot Size | 0.01 | 0.01 | 0.1 (cent lots) | 0.01 |
| Order Execution | Market | Market | Market | Market |
| Max Leverage | 1:3000 | 1:3000 | 1:3000 | 1:200 |
| Margin Call | 30% | 30% | 30% | 30% |
| Stop Out Level | 10% | 10% | 10% | 10% |
| Max Open Trades | 500 | 500 | 500 | 500 |
ForexMart Fees
The minimum spread for the four accounts ranged from 0 pips to 1 pips, and the average spread ranged from 0.2 pips to 1.2 pips. In addition, only Zero Account receives commission from $6, and the remaining accounts have no commission.
The spread of EUR/USD in the forex pair is found to be the lowest 0.0 after comparing four kinds of accounts.
| Symbol | ForexMart Classic/Cent *Spread | ForexMart Pro *Spread | Zero Spread *Spread |
| EURUSD.fx | 1.3 | 0.7 | 0 |
| GBPUSD.fx | 1.4 | 0.8 | 0.1 |
| USDJPY.fx | 1.4 | 0.8 | 0.1 |
| USDCHF.fx | 1.8 | 1.2 | 0.5 |
| USDCAD.fx | 1.6 | 1 | 0.3 |
| AUDUSD.fx | 1.3 | 0.7 | 0 |
| NZDUSD.fx | 1.5 | 0.9 | 0.2 |
| ... | ... | ... | ... |
CFDs on Shares basically have a spread between 0.03 and 1.0 and charge a commission of 0.10%.
| Title | Symbol | Fixed Spread | Commission |
| AA Alcoa, Inc. | #AA | 0.03 | 0.10% |
| AAL ANGLO AMERICAN PLC | #AAL | 1 | 0.10% |
| AAL American Airlines Group Inc. | #AAL | 1 | 0.10% |
| AAPL Apple Inc. | #AAPL | 0.152 | 0.10% |
| AIG American International Group, Inc. | #AIG | 0.03 | 0.10% |
| AMZN Amazon.com Inc. | #AMZN | 0.12 | 0.10% |
| AXP American Express | #AXP | 0.03 | 0.10% |
| ... | ... | ... | ... |
Spot Metals maintains a spread between 34 and 57 with no fees.
| Title | Symbol | Lot | ForexMart Classic/Cent Average spread | ForexMart Classic/Cent Fee | ForexMart Pro Average spread | ForexMart Pro Fee | ForexMart Zero Spread Average spread | ForexMart Zero Spread Fee |
| Gold vs US Dollar (100 oz) | GOLD.m | 100 ounces | 34 | 0 | 29 | 0 | 34 | 0 |
| Silver vs US Dollar (500 oz) | SILVER.m | 500 ounces | 57 | 0 | 52 | 0 | 56 | 0 |
| Gold vs US Dollar (500 oz) | XAUUSD.m | 500 ounces | 34 | 0 | 29 | 0 | 34 | 0 |
| XPD vs US Dollar (100 oz) | XPDUSD.m | 100 ounces | 38 | 0 | 38 | 0 | 38 | 0 |
Cryptocurrency spreads remain between 50 and 29,761, with a 0.10% fee.
| Title | Symbol | Spread | Fee |
| BCHUSD | BCHUSD | 335 | 0.10% |
| #Bitcoin | #Bitcoin | 19167 | 0.10% |
| #Ethereum | #Ethereum | 1326 | 0.10% |
| #Litecoin | #Litecoin | 170 | 0.10% |
| #Ripple | #Ripple | 50 | 0.10% |
| Uniswap | Uniswap | 258 | 0.10% |
| Chainlink | Chainlink | 29761 | 0.10% |
| Filecoin | Filecoin | 760 | 0.10% |
| ... | ... | ... | ... |
The energy spread is between 24 and 63.
| Title | Symbol | Group | ForexMart Classic Average Spread | ForexMart Pro Average Spread | ForexMart Cent Average Spread |
| Natural Gas | NG.z | Energy | 34 | 24 | 34 |
| Crude Oil | CL.z | Energy | 63 | 46 | 63 |
| Brent Crude Oil | BRENT.z | Energy | 45 | 35 | 45 |
Index spreads range from 60 to 1850 with no fees.
| Title | Index | ForexMart Classic Average spread | ForexMart Classic Fee | ForexMart Pro Average spread | ForexMart Pro Fee | ForexMart Cent Average spread | ForexMart Cent Fee |
| Standard & Poor's 500 Index | SPX500 | 110 | 0 | 60 | 0 | 110 | 0 |
| Deutsche Boerse AG German Stock Index | DAX40 | 170 | 0 | 170 | 0 | 170 | 0 |
| Financial Times Stock Exchange 100 Index | UK100 | 200 | 0 | 150 | 0 | 200 | 0 |
| Japan 225 Index | JP225 | 1850 | 0 | 1800 | 0 | 1850 | 0 |
| The Dow Jones Industrial Average | DJ30 | 400 | 0 | 273 | 0 | 400 | 0 |
| Nasdaq 100 Index | NASDAQ100 | 180 | 0 | 130 | 0 | 180 | 0 |
| ... | ... | ... | ... | ... | ... | ... | ... |
Trading Platform
ForexMart provides an online forex trading platform for traders to use.
| Trading Platform | Supported | Available Devices | Suitable for |
| Online Forex Trading Platform | ✔ | Desktop | All traders |
| MT4 | ❌ | ||
| MT5 | ❌ |
Deposit and Withdrawal
There are 8 deposit methods at ForexMart: Skrill, NETELLER, PayCo, Fasapay, Bitcoin, Bitcoin Cash, Tether, and Local Bank. Most methods take less than 24 hours to process.
The same 8 withdrawal methods, but will charge a certain fee.
| Method | Fees | Processing Time |
| Skrill | No fees | 24 hours |
| NETELLER | No fees | 24 hours |
| PayCo | - | Instant |
| Fasapay | - | Instant |
| Bitcoin | - | 24 hours |
| Bitcoin Cash | - | 24 hours |
| Tether | - | 24 hours |
| Local Bank | - | 24 hours |
| Method | Fees | Processing Time |
| Skrill | System fee: 1% | 1-7 working days |
| NETELLER | Transaction fee - 2%, min fee: 1.00 USD, max fee: 30.00 USD | 1-7 working days |
| PayCo | - | 48 hours |
| Fasapay | - | 48 hours |
| Bitcoin | Transaction fee - fixed fee 0.0002 BTC + fixed fee 2 USD | 48 hours |
| Bitcoin Cash | Transaction fee - fixed fee 0.001 BCH + fixed fee 2 USD | 48 hours |
| Tether | Transaction fee - 1% | 48 hours |
| Local Bank | Transaction fee - 3% | 24 hours |
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