SHARE MART foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://www.sharemart.co.in, about the company's legal and temporary regulatory information, the company's address 70, Sampatrao Colony, Opp. Masonic Hall, Productivity Road, Vadodara - 390 007 Gujarat India.
SHARE MART Forex Broker
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India
5-10 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
SHARE MART broker review
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Share Mart Forex Broker - Complete Information Guide
1. Broker Overview
Share Mart is a forex brokerage firm established in 1991. The company is headquartered in Vadodara, Gujarat, India, located at 70, Sampatrao Colony, Opp. Masonic Hall, Productivity Road, Vadodara – 390 007. Share Mart operates as a private entity and serves a diverse clientele, primarily focusing on retail traders and individual investors looking to participate in forex and CFD trading.
The development of Share Mart has been marked by several key milestones since its inception. The company has aimed to provide a variety of trading services, although it is noted that it is not yet properly regulated within the forex and CFD industry. Despite this, Share Mart has established a significant presence in the market, offering clients access to various financial instruments, including forex, commodities, and indices.
As a forex brokerage, Share Mart primarily operates in the retail forex market, providing trading solutions for individual investors. The firm aims to facilitate a seamless trading experience, although it lacks the regulatory backing that many other brokers possess. This aspect is crucial for potential clients to consider when choosing a broker.
2. Regulation and Compliance Information
Share Mart is currently operating as an unregulated broker, which raises certain concerns regarding the safety and security of client funds. The absence of proper regulation means that there is no oversight from recognized financial authorities, which can lead to potential risks for traders.
The primary regulatory bodies that oversee forex trading in India include the Securities and Exchange Board of India (SEBI), which is responsible for regulating the securities market, and the Reserve Bank of India (RBI), which governs the broader financial landscape. However, Share Mart does not have any valid licenses from these authorities.
Given its unregulated status, Share Mart does not provide client fund protection measures that are typically offered by regulated brokers, such as segregation of client funds or participation in investor compensation schemes. The lack of a Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance framework further complicates its operational legitimacy.
3. Trading Products and Services
Share Mart offers a variety of trading products, primarily focusing on the forex market. The brokerage provides access to a range of currency pairs, although specific numbers and major pairs are not detailed in the available information. In addition to forex trading, Share Mart also offers Contracts for Difference (CFDs) across various asset classes, including:
- Indices
- Commodities
- Stocks
- Cryptocurrencies
The firm is noted for its flexibility in product offerings, although it is unclear how frequently these products are updated or if new trading instruments are regularly introduced.
For retail traders, Share Mart provides basic trading services, while institutional services may not be as robust due to its current regulatory standing. The absence of white-label solutions and asset management services indicates a more limited scope of offerings compared to larger, regulated firms.
4. Trading Platforms and Technology
Share Mart does not support MetaTrader 4 or MetaTrader 5, which are the industry standards for forex trading platforms. Instead, the broker relies on its proprietary trading platform, details of which are not extensively provided in the available information.
The brokerage offers a web-based trading platform, allowing clients to trade directly from their browsers without the need for downloads. Additionally, mobile trading applications for both iOS and Android devices are expected but are not explicitly confirmed.
In terms of execution models, Share Mart's specifics regarding ECN, STP, or Market Making are not clearly outlined. The technology infrastructure, including server locations and trading technology, remains unspecified, which could impact the overall trading experience.
API integration for automated trading is also not mentioned, limiting the options for algorithmic traders who seek to implement advanced trading strategies.
5. Account Types and Trading Conditions
Share Mart provides various account types, although specific details on each type are limited. The standard account conditions include:
- Minimum Deposit: Specific figures are not disclosed.
- Spreads: The spread structure remains unspecified, which is crucial for traders to understand their potential costs.
- Commissions: Information regarding commission rates is not available.
Advanced account types, such as VIP or professional accounts, are not mentioned, indicating that Share Mart may cater primarily to retail clients. The availability of Islamic accounts and corporate accounts is also not detailed.
The broker's demo account policy allows potential clients to practice trading, although the specifics are not provided. Leverage ratios and minimum trade sizes are also not specified, which are critical factors for traders when assessing risk.
6. Fund Management
Share Mart supports various deposit methods, including traditional options like bank transfers, credit cards, and potentially e-wallets, although specific payment options are not detailed. The minimum deposit requirements vary by account type but are not explicitly stated.
The processing times for deposits and any applicable fees are not provided, which can affect a trader's decision-making process.
Withdrawal methods are also unspecified, including any potential limitations or processing times associated with withdrawing funds. The absence of detailed information regarding withdrawal fees adds to the uncertainty for potential clients.
7. Customer Support and Educational Resources
Share Mart offers customer support through various channels, including:
- Phone
- Online chat
- Social media
The service hours and time zone coverage are not specified, which could impact accessibility for international clients. The availability of multilingual support is also not mentioned.
Educational resources provided by Share Mart include basic materials such as webinars, tutorials, and possibly eBooks, although specific offerings are not detailed. Market analysis services, including daily analyses, news updates, and research reports, remain unspecified.
Trading tools, such as calculators and calendars, are not mentioned, which could limit the resources available to traders for making informed decisions.
8. Regional Coverage and Restrictions
Share Mart primarily serves the Indian market, with its operations centered in India. The brokerage may have regional offices, but specific locations are not provided.
Certain countries or regions may be restricted from accessing Share Mart's services, although the specific jurisdictions are not disclosed. Special limitations regarding the availability of services to clients from particular countries are not mentioned.
In summary, while Share Mart offers various trading services, its unregulated status and lack of detailed information in multiple areas may pose risks for potential clients. As such, traders should exercise caution and conduct thorough research before engaging with this broker.
In conclusion, Share Mart serves as a forex broker that provides access to various financial products but lacks the regulatory oversight that many traders might prefer. The overall trading experience, including the platform, support, and product offerings, requires careful consideration before proceeding.