ForexMart has signed a sponsorship agreement with HKM Zvolen, a famous Slovak ice hockey club, further expanding its list of partnerships with elite sports teams.
Hokejový Klub mesta Zvolen or HKM Zvolen for short is one of the most famous ice hockey teams in Slovakia. The professional hockey club has established a long history dating back to early 1927. The club has two Slovak league championships to its credit and the 2005 IIHF Continental Cup.
The partnership between ForexMart and HKM Zvolen has been long awaited, with both parties excited about a prosperous relationship.
"I have always believed that winning can only be achieved through hard work and solid teamwork, qualities that are the essence of ForexMart and HKM Zvolen. We are proud of this partnership because, like them, we are in business not just to win, but also to grow as a team with our clients. "
- Ildar Sharipov, President of ForexMart
ForexMart and HKM Zvolen will launch collaborative projects that aim to promote both brands. ForexMart will also be featured as a sponsor of the ice hockey team, with HKM Zvolen players wearing the official ForexMart logo in their upcoming games.
Minimum deposit
ForexMart requires only 1 USD / EUR / GBP from its clients to start. Other Cyprus regulated brokers require $ 500 (FxPro) or $ 50 (FXCM) and there are even those that do not require any (Exness).
Spreads / Commissions
ForexMart offers a fixed spread of 2 pips EUR / USD to your commission free account. The other account provides spreads as low as 0.0 pips EUR / USD, but carries a 2 pip commission. Therefore, the spreads offered by this broker may seem high, compared to the variables provided by other brokers, however, they are in line with the fixed ones offered. Other companies regulated by CySEC offer similar fixed spreads: Exness, for example, offers spreads in the amount of 2 pips in EUR / USD for their accounts without commissions; The typical spreads of Plus500 in EUR / USD also amount to 2 pips and do not charge commissions.
Maximum leverage
The maximum leverage offered by this broker is 1: 1000, which is one of the highest levels in the industry. Other CySEC regulated brokers, like FxPro, for example, offer leverage of up to 1: 500 and XM, up to 1: 888. It is important to note that high levels of leverage can multiply a trader's profit on a small deposit, but they can also generate large losses. That's why most brokers include a risk warning for leverage products on their websites, and some jurisdictions set leverage limitations (1:50 in the US and Turkey, 1:25 in Japan).
It is useful to specify that the leverage for gold and silver trading is 1: 100 and that for CFD trading it is 1:20. For trade accounts over $ 1000, the leverage on the balance can be reduced from 1: 1000 to 1: 500.
Trading platforms
ForexMart offers its clients the popular MetaTrader 4. This platform is preferred by most traders because it allows you to track up to four charts simultaneously, trade directly from the chart and is equipped with a series of technical indicators, an extensive back-end environment. testing and Expert Advisors (EA). Here is a list of more forex brokers offering the MT4 platform.
Deposits / Withdrawals
The broker accepts customer deposits and allows withdrawals by credit card (Visa / Mastercard) and the following electronic wallet systems: Neteller, Skrill, PayPal, Paxum.
ForexMart is a trade name of Tradomart Ltd. (formerly Fxco Trading Ltd.), a Cypriot investment company, regulated by CySEC. The company offers Forex, CFDs on stocks and precious metals through the most popular trading platform MetaTrader4.
Tradomart Ltd., which conducts its brokerage business as ForexMart, is duly licensed and regulated by the Cyprus Securities Exchange (CySEC, number of license 266/15).
In addition, Tradomart Ltd. has a cross-border CySEC license, which enables investment and ancillary services under the European Financial Instruments Directive (MiFID) throughout the European Economic Area.
CySEC applies certain rules to investment brokerage firms, one of which is the most important, the minimum capital requirement. Cypriot financial surveillance requires currency brokers to hold at least € 1,000,000 in order to carry out their trading activities legitimately. Financial service provider regulation generally involves this requirement, so UK brokers must have a minimum of EUR 730,000, Australians must have at least $ 1,000,000 and brokerage firms based in the US. USA 20 million dollars.
In addition, an additional guarantee is provided to clients' funds, as all companies regulated by CySEC are members of the Investor Compensation Fund, which ensures the claims of covered clients and provides them with compensation of up to EUR 20,000 per person , if the broker cannot fulfill its obligations. Similar compensation schemes apply in the UK and FCA regulated brokers are covered by the Financial Services Compensation Scheme where the maximum compensation coverage is L50,000 per person.