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ForexMart.com Review Visit site

Updated: Oct 9, 2018
SCAM
1.163 · 24 REVIEWS
Is this your company?
SCAM CONFIRMATION

July 2018:  It has been brought to the FPA's attention that ForexMart is operating under the same Cysec license as InstaForex, which is already considered to be a scam by the FPA.

SCAM CONFIRMATION

March-November 2017:  Multiple fake and highly suspicious positive reviews submitted for ForexMart.

 

WARNING August 2016:  There is an FPA Traders Court guilty vote against ForexMart. The client complained about a delayed withdrawal. The company emailed the FPA and claimed it resolved the issue.  Their version of a "resolution" was to confiscate the client's profits because the client made too much money on individual trades.  ForexMart claims to be ECN, but it's terms allow trades to be cancelled if the trades are less than 2 minutes and also allow for trades which make too much money to have profits cut.  Both of those are extremely strong evidence that the broker is not ECN.

The FPA strongly recommends
AGAINST doing business with ForexMart.

June-July 2016:  Multiple fake and highly suspicious positive reviews submitted for ForexMart.

 

 

ForexMart is a forex broker. Forex Mart offers the MetaTrader 4 forex trading top platform. ForexMart.com offers over 100 forex currency pairs, cfds, shares, spot metals, gold and  silver for your personal investment and trading options.

ForexMart.com

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Court cases

  • Open0
  • Resolved0
  • Not guilty0
  • Guilty1
Case IDFiledCase nameVerdict
2016-1362016-07-22RedasV vs forexmart.comguilty

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Scam!
1.163 · 24 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Lieutenant Mofokeng,
halloween, South Africa,
Oct 8, 2018,
Registered user

The worst broker ive ever encountered

This is one excrement covered broker in the history of time, I wouldn't recommend it for a sec. None of my trades(positions) last for a minute and they are closed especially when in loss, have sex with it! 
DEVANANDK,
patna, India,
Sep 13, 2018,
Registered user

bad broker

ForexMart claims to be ECN, but it's terms allow trades to be cancelled if the trades are less than 2 minutes and also allow for trades which make too much

very bad broker dont join
zhuluo,
China,
Aug 22, 2018,
Guest

Trading account 319038, I'm at ipRebate.comIB, link to: forexmart.com.registeridn UYXEU.Open a trading account 319038, $5085.99 at sunrise on April 18, 2018, but only $3151. I have nothing to do with this agent, and the IB of this site still exists. When will the commission for other transactions be returned? if I do not return it, I will complain about your violation to the Cypriot regulatory authorities, and then post your violation online. Your group was fined 150000 euros in May. Do you want to be punished again?
Reply by KostiaForexMart submitted Sep 19, 2018:
Dear zhuluo.
You have been received a letter with detailed explanations of your situation. Rebate was canceled according to clause 11.6 of "Partnership agreement".
Dwanna,
Lagos, Nigeria,
Jul 24, 2018,
Registered user

Wonderful broker

Everything has been perfect for me from quality trading environment to fast withdrawals to great customer service. My advice is stick to their trading terms and conditions and you wont have any reason to complain. Most traders complaining are greedy traders ! I hope Forexmart stays this way forever..keep up the good work!!
Only thing that needs to be improved is execution speed.
hassan,
Lahore, Pakistan,
Jul 3, 2018,
Guest

bigscam
forexmart and INSTAFOREX both are same broker but change the name
plz be safe ur can serach his CYSEC lience no in CYSEC official website u found that both are same broker
Gungun,
Indonesia, Indonesia,
Mar 25, 2018,
Guest

Cancellation profit by forexmart

please help me, i have a problem with "the bucket shop" forexmart who claimed to be a broker
Dear FOREXMART
Firstly, I would like to introduce my self. My name gungun muhamad nahar from Indonesia. I am a client of forexmart one of forex trading brokers.
I want to complain to forexmart due to cancellation of my profit from trading transaction on March 22nd 2018 on 02.00 pm. At that time, I was trading on forex GBPUSD. Twenty minutes before the transaction I was set the order, the price touched the order and take profit. The transaction was closed automatically. From that trade, I get the profit 3300 dollars. But then the broker was cancelled all my profits due to the time period of the trade happened less than 2 minutes from which the transaction has been opened
My objection of this cancellation because :
1. The transaction was executed and closed automatically based on pending order that has already been set before
2. I can not predict the time when the order was execute, the price touch the order (buy stop and take profit) and then closed automatically
3. The cancellation never happen when we loss from the trade which happen less than 2 minutes from the transaction has been opened. This is not fair. The clause of 35.9 only told about trade that happen less than 2 minutes and not stated whether the trade makes a profit or loss. Due this clause, forexmart should cancel any trade that happen less than 2 minutes, whether the trade makes profit or loss
4. I have experience before, take profit from the trade less than 2 minutes, with small amount, the broker didn’t cancel the trade. But in this time, when the profit have quite large amount, the broker cancelled the trade. I give you the evidence of other transaction history, with the trade has happened less than 2 minutes from the transaction has been opened.
5. The forexmart has no good intention to restore my profit that already been my right.
Forexmart must return all of the profits , and for customer protection, the institution which relevant to this should investigate this incident as a licensor institution responsibility.

Regards,
Gungun Muhamad Nahar
Reply by KostiaForexMart submitted Mar 30, 2018:
Dear gungun muhamad nahar,
Short orders were canceled in accordance with clause 35.9 of ForexMart "Terms and Conditions": The Company reserves the right to cancel any trade where the time period for which the transaction has been opened is less than two minutes, and / or any hedging / locking / set-off transaction which has been opened for less than two minutes. You have been received a letter with detailed explanations.
greendiceman,
Australia,
Mar 13, 2018,
Registered user

Do not trade with this broker

Forexmart have terrible spreads and delays in placing orders. I would definitely stay away from this broker.
Reply by KostiaForexMart submitted Mar 30, 2018:
Dear greendiceman,
Please describe the situation in more detail and send your trading account number if you are our client. What problems or questions do you have? We will help to solve the problem and find a possible solution on this issue. Thank you!
ali1989,
Iraq,
Mar 2, 2018,
Registered user

acceptable

i start to trade with forexmart about 1 year ago . i trade with humble and withdraw with credit card and wire transfer . all good . and when i had problem the support was available to deal with it . BUT take this in mind they DO NOT accept any trade in news or open and close a trade in less of 3 minutes and if you do they will take the profits and do not cover the losses if you lost during the news
thanzeenazh,
india, India,
Nov 27, 2017,
Registered user

thanzeena


I had deposited Bitcoin 0.9824145to my trading account number 309534 on 16th November. The amount is not yet credited to my account. When i spoke with the customer support, they informed me that the amount is credited and need some time to update. Now its about 2 weeks and what they say is they have problem with bitcoin wallet and are asking me to wait wait wait and waaaaaiiiiittt... such an irresponsible forex trading company they are.
Beatriz (really Andrea ForexMart),
Brazil, Brazil (using anonymous proxy),
Nov 24, 2017,
Registered user

The economic news posted in ForexMart helps me to keep updated regarding the latest events in the financial markets. I find this very favorable because I also invest to other markets.
Forex Peace Army
Review moderation team note
4 Star Rating removed.

This is another of the large number of fake positive reviews submitted from the same location in the Philippines as FPA member "Andrea ForexMart"

The FPA does not appreciate review spammers.