RedMars: MT5 accounts, funding and conflicting dormancy tariffs

RedMars is the retail trading name of a Cyprus investment firm. Its website excludes the United States, Iran, Myanmar, North Korea and other restricted jurisdictions; leveraged CFDs are unavailable to Belgian residents. Country acceptance still depends on the application and local restrictions.[1]

Micro changes the stated lot size by a factor of 100 relative to Standard. A lot count therefore cannot be compared across those accounts without converting it into underlying units. Both pages list MT5, browser and mobile access; the funding currency and account currency should be confirmed together.[4][3]

VIP is an invitation-only service with a EUR 50,000 minimum. The page describes a dedicated manager, support and event or education benefits. This service threshold does not itself establish professional-client classification or a separate, complete execution tariff.[6]

Elective professional status requires assessment and at least two of three criteria: ten significant trades per quarter over the previous four quarters, a financial-instrument portfolio above EUR 500,000, or a year in a relevant financial-sector role. Professional status changes protections; a larger deposit alone is insufficient.[8]

The acceptance policy requests identity, address, date of birth and source-of-funds information, with documentation varying by residence and risk. Corporate applicants require ownership and beneficial-owner checks. The firm may decline an application when it cannot complete due diligence.[9]

View full spreads & trading costs

The homepage advertises a larger catalogue: 80 FX pairs, 43 index CFDs and 3,000-plus share CFDs, alongside bond/ETF CFDs and cash-share claims. Those headlines are not reconciled with the smaller detailed pages or accompanied by equivalent cash-investment terms; verify the available symbols and contracting route.[1]

The crypto page advertises round-the-clock trading, while the pricing table prints a narrower daily session without identifying its time zone. Confirm the live symbol session before relying on weekend or continuous access.[14][15]

Prime’s published commission is EUR 7 for opening and closing one stated lot, calculated as two EUR 3.50 sides. That excludes the spread, financing, conversion and slippage; a zero starting spread is not an all-in transaction price.[5]

The forex key-information document identifies overnight financing and a triple Wednesday adjustment. Its illustrative cost percentages and inconsistent notional examples do not establish a live swap tariff. Obtain the current long/short rate for the instrument and intended holding period.[16]

An approved Islamic account waives swaps only for the first five trading days of a position. Longer holding attracts swaps; misuse can lead to removal of the designation and retrospective charges.[17]

The professional-trader page also contains conflicting leverage and pricing tables, including different maximum FX leverage and commission headlines. It is not a consistent account specification. Professional terms should be agreed in writing, with instrument limits and charges attached.[7]

RedMars advertises MT5 on computers, phones and through WebTrader, with charts, technical analysis and automated trading. The public platform page does not establish identical automation on every device, or whether an individual tool continues running after the client terminal disconnects.[19]

Closing an order window does not cancel an instruction already sent. Repeating an unconfirmed request can create duplicate trades. The risk notice treats server quotes as authoritative and warns that the terminal may lag; its single-instruction queue is not a universal open-position limit.[21]

Telephone orders require the client’s name, account number and agreed identification data. Report compromised credentials immediately; orders pause until replacement access data arrive. No fixed recovery period or post-reset withdrawal hold is published.[18]

Latency-arbitrage breaches can lead to cancellation or adjustment of trades, termination and an administration charge of 10% of the deposit, capped at USD 200 equivalent.[18]

Conversion uses a bank-determined rate; an additional charge may apply, with no numerical markup established.[18]

The risk notice describes segregated client accounts and also explains bank or custodian insolvency risks. Segregation does not guarantee immediate recovery or remove market losses. The legal framework depends on where the client money is held.[21]

For retail forex CFDs, the key-information document specifies initial margin of 3.33% or 5%, depending on the pair, and liquidation when qualifying account equity falls below 50% of aggregate initial margin. Loss exposure is limited to the retail CFD account equity.[16]

Eligible retail claims under the Cyprus Investor Compensation Fund are limited to the lower of 90% of covered claims or EUR 20,000 per client, aggregated across covered accounts and services. Professional clients and eligible counterparties are excluded. The fund addresses an investment firm’s failure to meet covered obligations; it does not reimburse unsuccessful trading.[22]

The complaints policy promises acknowledgment within five days, aims to reach an outcome within two months, and permits an explained extension up to three months from submission. Its older external-referral wording should be read alongside the Commissioner’s current requirements.[24]

Consumer deadlines: complain to the firm within six months of awareness; refer externally within twelve months of that complaint and eighteen months of awareness.[25]

The homepage advertises 3.5% on eligible VIP uninvested EUR cash and 4% annualised on uninvested USD funds, with daily payment claims. These are advertised cash-interest offers. Detailed accrual eligibility, caps and duration were not established; the displayed percentage should not be treated as a guaranteed deposit return or withdrawable trading bonus.[1]

The general agreement does not oblige the firm to pay interest. Delegated authority requires a power of attorney; revocation needs written notice at least five business days ahead. Revocation is not documented as an instruction that automatically closes every existing position.[17]

Call recordings are available on request for five years, or seven where the authority requests retention. Export formats, post-closure statement access and tax-certificate scope are not specified. After two inactive years, closure may follow notice; residual money remains owed to the client.[17]

CySEC records an authorisation grant on 8 February 2021 and lists redmars.eu and redmars.capital as approved domains. The profile follows that legal company. The reviewed register and current documents do not establish a separate client-contract migration to another entity.[2]

Headquarters

Limassol, Cyprus