Forex Brokers, Forex Scam
CFD - Contract for Difference, MetaTrader 4
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.
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.
Open a ForexMart Live Account
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 its 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.