ForexMart is an outstanding broker company that offers a lot of advanced trading opportunities for traders worldwide. This includes features like social trading, share dealing, and many more. The minimum deposit is only $1, which is another sign of inclusivity and welcoming nature of this company to the variety of client types.
ForexMart also won the award for the Best Broker in Europe back in 2015. Since then, the company is aimed to continue the winning streak by constantly improving its operations and adding new and exciting features. In this ForexMart review, we will check out each one of them to see how good they are as a real deal, during a hectic trading day.
Quality of Service
ForexMart trading platform is MT4, which allows you to trade smoothly and without delays. It also offers you an option of robot trading, which many clients find appealing and relaxing since it takes a lot of the pressure off of them. Also, the platform is customizable to any device and operating system, which is another great perk. Before you begin trading, you will need to open and verify your account for safety reasons. This is quite simple and fast, and you will be done in just a few clicks.
ForexMart offers around 100 tradeable assets for the clients. They mainly include CFDs and currency pairs, but you can also find a few of the cryptocurrencies and some commodities. The leverage which is available for all these assets is 1:200, which is a lot higher than the European industry standard – only 1:30. And as it usually goes, the higher the leverage – the higher the risk is for you on the market.
Speed of Response
The ForexMart customer support team is lacking a lot of features that would allow clients to reach out to them with their queries. When you visit the website, you will notice that there are only 2 options available for contacting them – the live chat and the callback option. There is no e-mail address or even a telephone number. This makes it a lot harder to get assistance. Despite their website claiming that the agents are available 24/5, it takes them quite a while to get back to you, which is disappointing.
ForexMart gives you quite a lot of options for making deposits and withdrawals. The transaction speed for each one of them can differ, which is standard. For example, the credit cards and some of the e-wallets such as Skrill and Neteller take about 24 hours to be processed. This is still quite fast, especially for credit cards. On the other hand, the e-wallets such as PayCo, FasaPay and UnionPay are processed instantly and without any delays.
There are different fees and commissions attached to your transactions on ForexMart. For example, the fee for credit and debit cards depends on the policy of your bank. Then, the majority of e-wallets do not take fees for your deposits of any amount, which is standard. On the other hand, the withdrawal fee depends on the method, but it can never go higher than 2.5%.
ForexMart operates under the licence of the Cyprus Security and Exchange Commission, CySEC for short. This is one of the most reputable regulatory authorities in Europe, so you can rest assured that you and your funds are safe at all times while trading. Also, the company accepts clients from most countries with the exclusion of the United States, Syria, North Korea and Iran.
Variety of Payment Options
There are more than a few payment methods that you can choose if you wish to make a deposit or a withdrawal. All the deposits can be done without additional fees or commissions, which is quite helpful. First, there are credit and debit cards, which are traditional forms of payment but can take some time to process the request. Then, there is a variety of e-wallets that take different times to process, as well as different fee amounts. They include Neteller, Skrill, PayCo, FasaPay, UnionPay, AliPay and Bitcoin.