Fx-mars Forex Broker provides real users with 1 positive reviews, 1 neutral reviews and * exposure review!
Business
License
ASIC Suspicious Clone 
Fx-mars is a complete scammer, it claims to be registered in Australia but has no local office. The so-called ASIC regulatory license is also fake.
Registered in a country that harbor frauds, customer service is not up to par, they didn't work on my withdrawal request and instead kept asking for more capital...
In this review, we delve into the performance and reputation of the forex broker fx-mars, which has garnered mixed feedback from users and experts alike. While some users appreciate the low minimum deposit and competitive spreads, others raise serious concerns about withdrawal issues and regulatory compliance.
Note: It is important to highlight that fx-mars operates under different entities in various regions, which may affect the level of service and regulatory oversight. This review aims to provide a fair and accurate assessment based on multiple sources.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Experience | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
We evaluate brokers based on user feedback, expert opinions, and factual data.
Founded in 2018, fx-mars is an online forex and CFD broker based in Seychelles. It primarily operates on the MetaTrader 4 (MT4) platform, which is widely recognized for its user-friendly interface and robust trading tools. The broker offers a range of trading instruments, including major currency pairs, commodities, and indices. However, it is important to note that its regulatory status remains questionable, with some sources labeling it as a "suspicious clone" of ASIC-licensed entities.
fx-mars claims to be regulated by the Seychelles International Business Authority (SIBA), but its credibility is questioned due to reports of it being a clone broker of an ASIC-licensed entity. According to WikiFX, the broker has a low score of 1.54, indicating potential risks for traders.
fx-mars supports deposits and withdrawals in USD, with options including wire transfer, credit card, and WebMoney. However, user reviews suggest that withdrawal processes can be problematic, with some users reporting delays and difficulties in accessing their funds.
The broker has a remarkably low minimum deposit requirement of $10, making it accessible for new traders. However, this low barrier to entry does not compensate for the serious concerns regarding its operational practices.
fx-mars offers various bonuses to attract new clients, but the details of these promotions are often vague and may come with restrictive terms, as noted by users who experienced issues when trying to withdraw funds associated with bonuses.
The broker provides access to a limited range of trading instruments, primarily focusing on forex pairs, commodities, and indices. While the selection may appeal to some traders, it lacks the diversity offered by more established brokers.
fx-mars utilizes a variable spread model, with no commissions on trades. However, the spread can widen significantly during volatile market conditions, which may affect trading costs. Users have reported inconsistent execution speeds and slippage, further complicating the trading experience.
The maximum leverage offered by fx-mars is up to 1:500, which can be appealing for traders looking to maximize their positions. However, high leverage also increases the risk of significant losses, especially for inexperienced traders.
fx-mars exclusively uses the MetaTrader 4 platform, which is popular among traders for its extensive features. However, the absence of newer platforms like MT5 may limit the trading capabilities for advanced users.
The broker does not accept clients from certain jurisdictions, including the United States, which can be a drawback for traders in those regions seeking access to its services.
Customer support is available in English and Russian, but user reviews indicate that the quality of customer service is lacking, with long response times and unresolved issues reported frequently.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Experience | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
fx-mars offers a low minimum deposit requirement, but the overall account conditions are marred by regulatory concerns and user complaints about withdrawal difficulties. The lack of transparency regarding account types and conditions further diminishes its appeal.
While the MT4 platform provides various trading tools, the absence of additional resources such as educational materials or advanced trading features limits the broker's utility for both novice and experienced traders.
The customer service of fx-mars has received significant criticism. Users report long wait times and unresponsive support, which raises concerns about the broker's commitment to client satisfaction.
The trading experience on fx-mars is hindered by reports of execution delays and widening spreads during high volatility. Users have expressed frustration with the overall trading environment.
The broker's low trust rating stems from its questionable regulatory status and negative user experiences. Many users have reported issues with withdrawals and overall transparency, leading to a lack of confidence in the broker's practices.
The user experience is negatively impacted by the broker's customer service and operational issues. While the MT4 platform itself is user-friendly, the overall experience with fx-mars has left many traders dissatisfied.
In conclusion, the fx-mars review reveals a broker that may appeal to novice traders due to its low minimum deposit but poses significant risks due to regulatory concerns and user complaints. Potential clients should exercise caution and thoroughly assess their options before committing funds to this broker.
