ForexMart
umarkets
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Overview
ForexMart was founded in 2015 and is headquartered in Cyprus, while umarkets was established in 2018 and is based in Bulgaria. ForexMart holds licences including Cyprus Securities and Exchange Commission (CySEC), while umarkets is regulated by Financial Conduct Authority (FCA) among others. ForexMart serves 10,000+ clients worldwide; umarkets has 10,000+. The minimum deposit is $1 at ForexMart and $250 at umarkets.
| Feature | ForexMart | umarkets |
|---|---|---|
| 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-F333 |
| Founded | 2015 | 2018 |
| Country | Cyprus | Bulgaria |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between ForexMart and umarkets, directly affecting your bottom line as a trader. ForexMart has a lower barrier to entry with a minimum deposit of $1 (vs $250 at umarkets). Both brokers charge withdrawal fees. umarkets applies inactivity fees on dormant accounts; ForexMart does not. ForexMart charges deposit fees; umarkets does not. Overall, ForexMart scores higher on fees in our assessment.
| Feature | ForexMart | umarkets |
|---|---|---|
| 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 umarkets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. The two brokers are closely matched on platform offering.
| Feature | ForexMart | umarkets |
|---|---|---|
| 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 umarkets compare. ForexMart runs regular live webinars; umarkets does not. Both provide video tutorials. ForexMart publishes daily market commentary; umarkets does not. Both integrate third-party research tools. ForexMart maintains an archive of past webinars for on-demand viewing. ForexMart scores higher overall in education and research.
| Feature | ForexMart | umarkets |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | Yes | Yes |
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 umarkets supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). umarkets uniquely supports PayPal among the two brokers. umarkets scores higher on deposit and withdrawal flexibility.
| Feature | ForexMart | umarkets |
|---|---|---|
| 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 umarkets offer live chat support. Both provide phone support. Email support is available at both brokers. ForexMart supports 15 languages and umarkets supports 8, giving ForexMart broader global reach. Both brokers are comparable on support quality.
| Feature | ForexMart | umarkets |
|---|---|---|
| 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 |