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Comments (4)

SUEFIR43
Nov 16

Online crypto investment can seem like a promising opportunity, but it's crucial to recognize that there are no guarantees. My experience serves as a stark reminder of this reality. I was drawn in by the allure of high returns and the persuasive marketing tactics employed by various brokers. Their polished presentations and testimonials made it seem easy to profit from cryptocurrency trading. Everything appeared to be legitimate. I received enticing messages about the potential for substantial gains, and the brokers seemed knowledgeable and professional. Driven by excitement and the fear of missing out, I invested a significant amount of my savings. The promise of quick profits overshadowed the red flags I should have noticed. I trusted these brokers without conducting proper research, which was a major mistake. As time went on, I realized that the promised returns were nothing but illusions. My attempts to withdraw funds were met with endless excuses and delays. It became painfully clear that I had fallen victim. The reality hit hard: my hard-earned money was gone, I lost my peace of mind and sanity. In my desperation, I sought help from a company called DEFTRECOUP. That was the turning point for me as I had a good conversation and eventually filed a complaint via DEFTRECOUP COM. They were quite delicate and ensured I got out of the most difficult situation of my life in one piece.

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ariadnemorales00
Nov 10

I understand the frustration of losing cryptocurrency. Lose it to individuals you have given your time, trust, and personal information to. It's certainly a tough situation to be in. I have lost hundreds of thousands of USD and fear what these impostors would do with my details. It was months of fear and trauma for me before coming in contact with CyberGenie HackPro. Their success rate is impressive, and they have helped numerous individuals and businesses retrieve their funds via various means lost to scammers running from BEC Fraud and pig butchering fraud. Remember, it's essential to choose a legitimate company with a proven track record and positive reviews, CyberGenie HackPro is the DEAL. If you want full internet protection, find CyberGenie HackPro:


-Telegram-CyberGenieHackPro-


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Sarah Laure
Sarah Laure
Oct 01

Two months into my investment, I became hesitant when I tried to withdraw my funds. My account, holding over $220,000, was suddenly inaccessible, and my withdrawal requests were being disregarded. Seeking advice from friends, I was dareted to alexivictimhelps @ mail . com

who helped me navigate the process of retrieving my money successfully.

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sophia marquez
sophia marquez
Aug 01

zotatrade is a proven scam trading software, which promises to make you a lot of money. They claim  you will make huge profits of thousands per day, however the truth shows otherwise, When we signed up for the software, they simply ask you to deposit money into the brokerage account. There is no ability to see the actual software, how it works, or if there are any settings for it. We can only assume that zotatrade is just a “funnel” to get you to deposit money at some offshore, unlicensed broker. It is important for every investor to know, that your money is held at a broker, and if that broker is not licensed, you will never see your money again! When you learn how these scams operate, you will understand why they recommended an unlicensed broker, if your a crypto scammed victim do well to contact this credible recovery company that recovered my $419,000 scammed funds and that saved my life from committing suicide via the company’s email Address : { paybackrecoveryltd@hotmail.com }

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Updated on January 5, 2024

Quick Links


Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding ForexMart due to the issues we've identified.


Is ForexMart Scam or Legit Broker? ▲

Our exhaustive investigation into ForexMart has unearthed significant concerns regarding its operational integrity and commitment to providing a fair and secure trading environment. Despite being a trading name for the Cyprus Investment Firm Instant Trading EU Ltd, which operates under CySEC regulation (with registration number 266/15), ForexMart's recent history paints a troubling picture. A substantial administrative penalty of €130,000 was levied against them for engaging in practices deemed unfair, casting a long shadow over their legitimacy and the safety of trading with them.


It's important to underscore that licensing by a reputable authority such as CySEC typically provides a degree of reassurance about a broker's reliability. However, the issues surrounding ForexMart, including complaints from clients about service delivery and financial management, coupled with the regulatory fines for non-compliance, suggest a significant deviation from expected standards. As such, we advise caution and recommend considering other, more transparent and dependable trading platforms.


What is ForexMart? ▲

ForexMart positions itself as a premier provider in the online forex trading sphere, promising state-of-the-art trading software, unmatched trading experiences, robust protection against fraudulent activities, and a wealth of knowledge for traders to draw upon. Utilizing the widely recognized MetaTrader 4 platform, ForexMart aims to cater to the needs of its clientele with round-the-clock customer support.


However, this portrayal is tarnished by the company's failure to adhere to regulatory requirements mandated by its CySEC license. This lapse in regulatory compliance, as highlighted by CySEC's public notices, necessitates corrective measures from ForexMart to align its operations with the stipulated guidelines. Furthermore, the association of the same license with multiple brands, which has been flagged as indicative of potential scam activities, further erodes confidence in ForexMart's offering. Despite claims of attractive investment opportunities and generous bonus programs, these regulatory shortcomings and the cloud of skepticism around the company's operations advise prospective traders to tread carefully.


Overall ForexMart Ranking ▲

In light of our comprehensive analysis and considering the regulatory concerns and operational issues identified with ForexMart, our overall assessment of the broker is decidedly negative. Drawing on over a decade of expertise in forex trading and benchmarking against a pool of 1000 brokers, ForexMart's performance is underwhelming. Our overall ranking for ForexMart is 1.5 out of 5, reflecting the gravity of the concerns regarding safety, regulatory compliance, and operational transparency. This ranking places ForexMart at a disadvantage compared to other industry-leading brokers, which exhibit higher standards of regulatory adherence and customer service.


Deposit & Withdrawal ▲

The mechanics of depositing and withdrawing funds are fundamental to the operation of any forex broker, serving as a direct interface between the trader and the broker's financial policies. While ForexMart offers various methods for depositing and withdrawing funds, the concerns about the broker's operational integrity and regulatory compliance cast doubt on the reliability and efficiency of these processes. Traders should exercise caution and thoroughly investigate the terms, conditions, and any fees associated with financial transactions. The presence of regulatory issues may affect the smooth processing of deposits and withdrawals, potentially leading to delays or complications. It is advisable for traders to seek brokers with a clear track record of timely and transparent financial transactions.


Conclusion ▲

Our in-depth examination of ForexMart, grounded in a methodical review process and extensive experience in forex trading, leads to a clear recommendation to steer clear of this broker. The significant regulatory fines imposed for unfair practices, along with customer complaints and operational issues, highlight considerable risks associated with trading through ForexMart. Despite the allure of advanced trading platforms and customer support, the overarching concerns about safety, regulatory compliance, and financial management render ForexMart an unsuitable choice for discerning traders seeking a reliable and transparent trading experience. In the complex and fast-paced world of forex trading, choosing a broker that aligns with regulatory standards and prioritizes trader security is paramount.


When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.

ForexMart

IG

Swissquote

Ranking

Is it safe?

Advantages

None

No

Low Fees

Yes

⭐⭐⭐⭐⭐

Education

Yes

⭐⭐⭐⭐⭐

Compare ForexMart with its peers

ForexMart

IG

Swissquote

Ranking

Is it safe?

Advantages

None

No

Low Fees

Yes

⭐⭐⭐⭐⭐

Education

Yes

⭐⭐⭐⭐⭐

Compare ForexMart with its peers

ForexMart
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In a Snapshot

Name: ForexMart

Website: www.forexmart.com

Reason to avoid: Reputation

Date: September 5, 2018

⚠️Caution: ForexMart operates as an unregulated broker, making it UNSAFE for trading activities.⚠️

ForexMart Review 2024

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