RedMars

RedMars Broker Overview

RedMars is the trading name of Red Mars Capital Ltd, a Cyprus Investment Firm registered in Cyprus on 21 June 2019 under company number HE 399243 and operating from Vision Hire Court in Limassol. The company offers contracts for difference on currencies, indices, shares, commodities and cryptocurrencies through MetaTrader 5, with four live account tiers starting at a 250 dollar minimum deposit and a Cyprus Investment Firm licence numbered 396/21.

RedMars Regulation and License

Red Mars Capital Ltd carries Cyprus Investment Firm licence 396/21, issued by the Cyprus Securities and Exchange Commission and effective from 8 February 2021. The permission is a market making licence, which means the firm is authorised to deal on its own account and can stand as the counterparty to its clients' trades. The company names the same authority and the same licence number in its website footer, on its contact page and on the cover of its Terms of Business, and the entity named in all three places is the one recorded on the Cyprus companies register.

The company states that client money is held in segregated bank accounts and that clients are covered by the Investor Compensation Fund up to 20,000 euros.

Is RedMars Regulated?

Yes. Red Mars Capital Ltd operates under Cyprus Investment Firm licence 396/21 from the Cyprus Securities and Exchange Commission, an authority that supervises retail contract for difference dealing, caps retail leverage and runs an investor compensation scheme. The licence record was confirmed during this review, but the authority's own public register was not opened, so a reader who wants independent confirmation should look the firm up there directly.

Is RedMars Safe?

RedMars carries the protections that come with a Cyprus licence, and it also has gaps a prospective client should weigh. In its favour, the operating company is real, registered and active, its registered address on the Cyprus companies register matches the address it publishes, negative balance protection applies to every account tier, and client money is stated to be segregated and covered up to 20,000 euros.

Against that, the company's own Terms of Business reserve the right to reverse accumulated profits where it judges a trading strategy abusive, and to charge an administration fee of 10 per cent of deposited funds, capped at 200 dollars, in latency arbitrage cases. Most of the mandatory disclosure documents listed on the legal documents page, including the client agreement, the complaints procedure and the Investor Compensation Fund policy, are not published there as retrievable files. The client login and registration portal did not respond during this review, and two further domains tied to the brand, redmars.capital and redmars.trade, are not serving a site.

RedMars Account Types

Four live accounts are published, all of them on MetaTrader 5, all with negative balance protection and all capped at 1:30 for retail clients.

• Standard: 250 dollar minimum deposit, no commission, average spread of 1.2 pips, standard 100,000 unit lot.
• Micro: 250 dollar minimum deposit, no commission, average spread of 1.2 pips, 1,000 unit lot for smaller position sizes.
• Prime: 5,000 euro minimum deposit, spreads from 0.0 pips and a commission of 3.5 euros per lot per side.
• VIP: 50,000 euro minimum deposit, adding a dedicated account manager, a premium support contact and event invitations.

A demo account is also offered, quoted from 0.1 pips and capped at 300 open positions.

RedMars Spreads, Commissions and Fees

Standard and Micro accounts are commission free and priced through the spread. The published pricing table quotes a minimum spread of 0.2 and a typical spread of 0.7 on EURUSD, 0.6 and 1.1 on EURGBP, 9 and 17 on gold and 4 and 8 on the S and P 500. Spreads float and widen with market conditions. The Prime account moves the cost into a commission of 3.5 euros per lot per side against spreads from 0.0 pips.

The charge most likely to catch a quiet client sits in the Terms of Business. An account with no trading activity for two months is charged a one off 20 euro fee and then 10 euros for every further month, and after two years of inactivity the company may close it.

RedMars Leverage

Retail clients are capped at 1:30. Clients who qualify for and elect professional categorisation are offered up to 1:500 on forex, 1:100 on commodities, 1:20 on indices, 1:5 on shares and 1:2 on cryptocurrencies. Professional status requires meeting two of three tests covering trading frequency, a financial instrument portfolio above 500,000 euros, or a year in a relevant professional role.

RedMars Trading Platforms

MetaTrader 5 is the only platform, offered as a desktop build for Windows and Mac, as mobile apps for iOS and Android, and as a browser based WebTrader. The company publishes its own MT5 installer. There is no MetaTrader 4 option and no proprietary platform.

RedMars Deposits and Withdrawals

The company shows Visa, Mastercard, PayPal and the payment provider Unlimit alongside bank transfer as its funding routes, and its Terms of Business accept bank transfer, debit and credit cards and electronic wallets where the originator is the client. Wire deposits and withdrawals carry no company fee, although banks and card processors may charge their own.

Withdrawals must return to the account, card or wallet the money came from, and the first deposit in particular is returned to its source. The company states that it aims to process a withdrawal request the same day or the next working day, with a bank wire taking up to five working days to reach the client. There is no dedicated deposits and withdrawals page, so per method fees, minimums and limits are not disclosed.

RedMars Support

Support runs through live chat advertised as 24/5, email at support@redmars.eu and backoffice@redmars.eu, two Cyprus telephone numbers on +357 25252277 and +357 22007328, and a ticket based help desk inside the client dashboard. The site is published in English, German, Italian, French, Spanish, Swedish and Arabic. The social media icons in the footer carry no links.

RedMars Pros and Cons

• Licensed in an EU jurisdiction that caps retail leverage, requires negative balance protection and runs a compensation scheme worth up to 20,000 euros.
• One consistent legal entity across the website, the legal documents and the Cyprus companies register, at an address that matches the register.
• A low entry point at 250 dollars, with a raw spread Prime tier for higher volume traders.
• Only one platform, with no MetaTrader 4 and no proprietary alternative.
• Most of the disclosure documents listed on the legal documents page cannot be retrieved from it.
• Terms that allow accumulated profits to be reversed where the company judges a strategy abusive, and an inactivity fee that starts after only two months.
• Two brand domains not serving a site, and a client portal that did not respond during this review.

RedMars Review and Assessment

RedMars is a small Cyprus licensed broker with a narrow proposition: one platform, four account tiers and a conventional CFD range priced either through the spread or through a per lot commission. The regulatory position is the strongest thing about it, and the corporate picture behind the brand is clean and consistent. What a prospective client should weigh before funding an account is how little of the firm's published disclosure is actually retrievable, the profit reversal and inactivity clauses in its Terms of Business, and whether the client portal is reachable from where they are.