Site – theforexmart.com

ForexMart positions itself as a broker offering clients access to Forex trading through the popular MetaTrader 4 platform. The company claims to provide advanced software and create comfortable conditions for trading. However, reviews and facts related to ForexMart’s activities raise many questions about the reliability of this broker.

Regulation and Fund Safety

ForexMart states that it complies with the regulatory requirements of various countries and keeps clients’ funds separate from its own assets. However, upon checking the registration information, it becomes clear that the broker does not hold a license to provide financial services. ForexMaart is a trademark of Tradomart SV Ltd., registered in an offshore zone — Saint Vincent and the Grenadines. This raises doubts about the transparency of the company’s operations, as offshore jurisdictions are often used to avoid strict regulation.

Furthermore, ForexMart’s activities are restricted in several countries, including the United States, North Korea, Sudan, Syria, and others. This could be due to the lack of the necessary permissions and licenses.

Reasons for Order Execution Denials

ForexMart may refuse to execute an order for the following reasons:

• Suspicion of market manipulation: If the broker believes that the order is related to insider trading or other forms of market manipulation, they have the right to decline it.
• Illegal activity: Orders related to money laundering or other illegal activities may be rejected.
• Doubtful authenticity: If there are suspicions of fraudulent activity on the client’s part, the broker may block the order from being executed.
• Technical issues: Platform malfunctions or internet connection problems can also be reasons for denying order execution.

However, many ForexMart clients complain that the company uses these reasons as an excuse to block funds without valid justification, raising serious concerns about the broker’s honesty.

User Reviews

Most reviews about ForexMart are negative. The main complaints from traders include:

• Poor website design and lack of transparent information.
• Negligent customer support that ignores clients’ requests.
• Theft of funds from accounts after making the initial deposit.
• Lack of legal documentation confirming the legitimacy of the company’s operations.
• Registration in an offshore zone, making it difficult to protect client rights.

Many users note that the broker blocks trades without explanation and refuses to allow withdrawals.

How to Recover Your Money if You Are a Victim of Fraud?

If you suspect that you have fallen victim to ForexMart’s fraudulent activities, it is important to act quickly and decisively. Here are the main steps:

1. Seek legal assistance: Find a professional lawyer who specializes in financial disputes. They can help you gather evidence of fraud and file a claim with the relevant authorities.
2. Initiate chargeback procedure: If you made a deposit via credit card, you can dispute the transaction and recover your funds through your bank. This process is available for residents of European countries and the CIS.
3. Contact law enforcement: In Russia and other CIS countries, you can file a police report, providing all available evidence.
4. Document everything: Keep records of your correspondence with the broker, screenshots of transactions, and any documents that may support the fraud claim.

Conclusion

ForexMart raises many doubts about both the transparency of its operations and its honesty towards clients. If you are considering working with this broker, proceed with extreme caution. Before starting to trade, always verify the broker’s licenses and study reviews from other users. Remember, protecting your funds is your personal responsibility, and it is better to avoid dubious companies from the start than to try to recover lost money later.