Rating Index

Pros

Red Mars offers a VIP account with premium support and exclusive event invitations for high-value clients.

The platform provides MetaTrader 5, which is highly regarded for day trading due to its advanced analytical tools and multiple timeframes.

Setting up an account with Red Mars is a quick and straightforward process, allowing traders to start trading within minutes.

Cons

Red Mars lacks sufficient educational resources and support for beginner traders, making it less suitable for those new to trading.

While spreads are competitive, they do not offer significant advantages compared to other low-cost brokers, which may deter cost-conscious traders.

The trading environment is basic, with no options for Islamic accounts, PAMM accounts, or copy trading, limiting flexibility for diverse trading strategies.

RED MARS broker Accounts

Red Mars Account Type

Red Mars offers three main types of trading accounts, catering to different levels of traders:

Standard Account

Minimum Deposit: €250
Maximum Leverage: 1:30
Minimum Spread: From 1.4 pips
Commission: From $0 per lot

Zero Account

Minimum Deposit: €1,000
Maximum Leverage: 1:500
Minimum Spread: From 0.0 pips
Commission: From $10 per lot

VIP Account

Minimum Deposit: €25,000
Maximum Leverage: 1:500
Minimum Spread: From 0.0 pips
Commission: From $8 per lot

All accounts support a variety of trading instruments, including forex, commodities, indices, shares, and cryptocurrencies. They also allow for expert advisors, scalping, and hedging.

Red Mars Broker Account Opening Process

To open an account with Red Mars, follow these steps:

Visit the Official Website: Go to the Red Mars website.
Click on ‘Register’: Start the registration process by clicking the registration button.
Choose Investment Service: Select the type of investment service you wish to proceed with.
Fill in Your Details: Provide the required personal information in the registration form.
Complete Suitability Test: Answer questions from the appropriateness or suitability test for assessment.
Upload Required Documents: Submit necessary documents for verification, including proof of identity and proof of address.
Approval Process: Wait for your account and documents to be approved.
Deposit Funds: Once approved, proceed to deposit funds into your account.
Start Trading: You can now begin trading on the platform.

The verification of identity is performed before establishing a business relationship, but you can use a demo account in the meantime. The process typically takes a few hours to one business day but can take up to 15 days.