ForexMart Broker Information
- Jurisdiction: Saint Vincent and the Grenadines
- Regulators: -
- Founded: 2018
ForexMart Quick reference
It is owned by Tradomart SV Ltd, a company registered in the island offshore of Saint Vincent and the Grenadines. It does not have any license, instead, in the regulation section it assures that complies with the requirements of the legislation of all countries.
That is, the broker disguises the absence of the ForexMart regulator with general meaningless phrases: there is a corresponding section on the site, but there is no intelligible information and license. Seeing this, we put a tick immediately - this is a bad sign.
The company was established in 2015, but all the poor legal documentation on brokerage services is dated 2018. This year is in the user agreement and in the risks disclosure. That leads us to conclusion that the real experience of the ForexMart broker is very small.
The “Visit our office” section is enchanting at all. We expected photos with palm trees on a distant island and a registration address that in reality will not help anyone. But the company came up with something more interesting. Instead of the office coordinates, it published in which industry exhibitions and events the company participated in the past. Information indicating what month the ForexMart booth seemed to be exhibited in Kiev or Singapore will not help to visit the office of the company.
In general, the broker is hiding qualitatively and is glad to contact with grateful clients only by phone and Internet correspondence.
The broker recommends exclusively MetaTrader 4. No, we also do not understand why ForexMart avoids the fifth modification.
- CFD on metals and stocks
4 types that differ in conditions. Comparison is in the table:
Deposit and withdrawal
The less legality in the broker's work is, the wider the list of channels for withdrawing money is and the more loyal the requirements are. That includes bank transfers, cards, all kinds of electronic systems and wallets. It is required to pass an account verification by sending an identity card. The broker warns that without this some services will not be available. We are ready to bet that this is only about difficulties with the withdrawal of funds and they will accept money from any anonymous person with pleasure.
Conclusion about ForexMart
There is no regulation, it’s lying. If anything is amiss - there is nowhere to complain. Contacting the indicated address on the offshore island is also useless, Google says that a lot of different companies are registered to it. In general we do not recommend it.