ForexMart
sogotrade
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Overview
ForexMart was founded in 2015 and is headquartered in Cyprus, while sogotrade was established in 2016 and is based in USA. ForexMart holds licences including Cyprus Securities and Exchange Commission (CySEC), while sogotrade is regulated by Financial Conduct Authority (FCA) among others. ForexMart serves 10,000+ clients worldwide; sogotrade has 1,000,000+. The minimum deposit is $1 at ForexMart and $250 at sogotrade.
| Feature | ForexMart | sogotrade |
|---|---|---|
| Min. Deposit | $1 | $250 |
| Regulation | Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F307 |
| Founded | 2015 | 2016 |
| Country | Cyprus | USA |
| Clients | 10,000+ | 1,000,000+ |
Fees
Fees are a critical factor when choosing between ForexMart and sogotrade, directly affecting your bottom line as a trader. ForexMart has a lower barrier to entry with a minimum deposit of $1 (vs $250 at sogotrade). Both brokers charge withdrawal fees. sogotrade applies inactivity fees on dormant accounts; ForexMart does not. ForexMart charges deposit fees; sogotrade does not. Overall, ForexMart scores higher on fees in our assessment.
| Feature | ForexMart | sogotrade |
|---|---|---|
| Min. Deposit | $1 | $250 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
ForexMart offers MT4, MT5, cTrader, while sogotrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. ForexMart supports social and copy trading features, which sogotrade does not offer. The two brokers are closely matched on platform offering.
| Feature | ForexMart | sogotrade |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, WEB, desktop | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how ForexMart and sogotrade compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. ForexMart scores higher overall in education and research.
| Feature | ForexMart | sogotrade |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. ForexMart accepts 4 of the tracked payment methods (bank transfer, credit/debit card, Skrill, Neteller), while sogotrade supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). sogotrade uniquely supports PayPal among the two brokers. sogotrade scores higher on deposit and withdrawal flexibility.
| Feature | ForexMart | sogotrade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | Yes | Yes |
| Neteller | Yes | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both ForexMart and sogotrade offer live chat support. Both provide phone support. Email support is available at both brokers. ForexMart supports 15 languages and sogotrade supports 8, giving ForexMart broader global reach. Both brokers are comparable on support quality.
| Feature | ForexMart | sogotrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |