RedMars Review 2025

Pros

• EU clients can trade confidently with RedMars, as it is approved by the CySEC. In case of bankruptcy, up to €20K compensation is available through the ICF.
• RedMars provides a superior trading platform, MT5, equipped with 21 timeframes, multiple analytical tools, customizable templates, and algorithmic trading.
• The broker is among a few firms that provide a special account for VIPs featuring premium support and exclusive event invitations.
• Starting on RedMars is very straightforward. You can be operational in just a few minutes according to tests.
• The broker accepts several payment options such as wire transfers, credit cards, e-wallets, and notably, cryptocurrencies for trading related transactions.

Cons

• The trading platform is simple, lacking advanced features like Islamic account, PAMM account, or copy trading.
• RedMars provides a constrained trading platform, offering just 300 instruments. This is quite limited compared to top competitors such as BlackBull Markets, which boasts 26,000 assets.
• RedMars is not suitable for new traders. It lacks educational resources, has no user-friendly platform, requires a high minimum deposit, and demonstrated insufficient customer support during testing.
• RedMars' spreads are industry-standard, but they don't provide a substantial advantage over the least expensive trading brokers we have experience with, particularly IC Markets.

Regulation & Trust

RedMars is regulated by the ‘top-tier’ Cyprus Securities and Exchange Commission (CySEC).

While it doesn’t have multiple regulators like some top brokers, it still offers a level of financial security and transparency.

Funds stay separate from those of the companies in reputable European banks, and RedMars performs regular reconciliations to maintain account accuracy.

This setup gives me some confidence in how it handles client money.

I also have added protection through CySEC’s Investor Compensation Fund (ICF), which can cover up to €20,000 per claim if RedMars ever defaults.

However, since RedMars only started in 2020, its track record is still limited.

It’s also not listed on any stock exchange, which means you don’t get the same level of financial transparency that some larger, publicly traded brokers like Plus500 and IG provide.

Accounts & Banking

Live Accounts

Based on your trading style and budget, you can choose from three account types.

The Standard account is the most accessible. It requires a €250 deposit, offers an average spread of 1.2, and provides a maximum leverage of 1:30.

The Pro account suits my needs for higher-volume trading. It has a €5,000 deposit, zero spreads on some instruments, and leverage up to 1:500.

If you want a more exclusive experience, the VIP account requires a €50,000 deposit and comes with a dedicated account manager, premium customer support, and invitations to special events.

Regardless of the account type, you can use Expert Advisors (EAs), scalping, hedging, and VPS for automated trading.

Setting up a new account through the dashboard is simple, though VIP accounts go through additional processing.

Demo Accounts

I use RedMars’ demo account on the MetaTrader 5 (MT5) platform to practice my trading strategies with different instruments and leverage options.

It’s a great way to build confidence and refine my approach before committing real money to the market.

Deposits & Withdrawals

You can deposit and withdraw funds with RedMars using several options.

Bank wire transfers take about 3-5 business days, and while RedMars doesn’t charge fees, intermediary banks might.

Credit and debit cards make transactions convenient, and e-wallets like SticPay and FasaPay are available depending on your location.

You can also use cryptocurrency deposits, which can be converted to USD or EUR.

Withdrawals return to the same method and currency you initially used, with only USD and EUR supported as base currencies.

Exness, by comparison, supports over 40 base currencies including GBP, CAD and AUD.

Assets & Markets

RedMars focuses mainly on forex and CFDs covering stocks, indices, commodities, and cryptos.

If you’re into forex, you have about 50 currency pairs, which is decent but doesn’t compare to brokers like CMC Markets, IG, or XTB, which provide a much broader selection.

RedMars doesn’t offer real stocks or ETFs, which is a downside if you want to diversify beyond CFDs. There’s also no copy trading service for passive trading.

You can trade 13 cryptocurrencies through CFDs for crypto, but you don’t own them. eToro is be a better choice if you need more options since it offers over 100 crypto assets.

Fees & Costs

RedMars’ spreads vary depending on the account type.

For major pairs like EUR/USD, the Standard account starts at 1.2 pips with no commission.

This setup works well for swing traders, but if you were a scalper, you might prefer a broker like IC Markets, which offers zero-spread accounts with small commissions.

The Pro account at RedMars lowers spreads but adds a €3.5 per lot per side commission.

You also have to watch out for inactivity fees. If your account stays inactive for two months, RedMars charges a €20 fee, followed by €10 monthly.

Luckily, you can avoid these charges if you have multiple accounts and keep at least one active. I also know that some brokers we’ve tested, like Interactive Brokers, have no inactivity fees.

While these fees are standard in the industry, they’re not the most competitive, so always factor them into trading decisions.

Platforms & Tools

RedMars only supports the third-party MT5 platform, but you can use the tried and tested platform on desktop, web, and mobile.

Unfortunately, it doesn’t offer MT4, which many beginners will probably find more straightforward.

MT5 has powerful charting tools, advanced analysis features, and hedging options, making it a good choice for experienced traders.

RedMars only offers the MT5 platform, but it provides advanced charting and analysis tools

However, you are limited if you prefer platforms like TradingView or cTrader.

The lack of variety forces me to adapt my workflow, which isn’t ideal for my trading style.

Research

RedMars lacks research resources, making it challenging for new traders.

It also doesn’t offer premium third-party analysis tools like Trading Central or Autochartist, which many top brokers we’ve evaluated provide.

While MT5 includes a basic economic calendar, RedMars doesn’t have an active blog or any webinars to help me stay informed about key upcoming economic events.

The economic calendar provides essential market event updates

Compared to top brokers like Swissquote and XTB, RedMars doesn’t offer beginners the guidance they need to navigate the markets effectively.

Education

Unlike leading brokers, RedMars doesn’t offer trading tutorials or videos, and its website doesn’t even have a dedicated education section.

If you’re starting out, you’ll have to look elsewhere for learning resources.

RedMars seems more suited for experienced traders who don’t rely on broker-provided education.

Customer Support

RedMars has limited contact options, offering only a support email and a ticket system in the client area.

I find this frustrating, mainly because no phone support or live chat exists.

Waiting over 24 hours for email responses isn’t efficient.

On top of that, the social media links on RedMars’ website didn’t work when I last checked.

Compared to other platforms like IC Markets, RedMars’ support quality feels lacking, and alternatives offer much more responsive assistance.

Should You Trade With RedMars?

RedMars stands out with competitive spreads, commission-free trades, and support for MT5.

However, its newness is apparent.

I’ve noticed broken links on the website and a lack of research and educational tools to help new traders.

The customer support also isn’t as strong as I’ve experienced with top brokers.

While it’s regulated in Europe, traders outside the region might prefer more established local platforms.

Article Sources

• RedMars Website
• Cyprus Securities and Exchange Commission (CySEC)
• CySEC Investor Compensation Fund (ICF)

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