4.7/5


Overview


  • Minimum deposit:
    $10
  • Leverage:
    Up to 1:2000
  • Spread:
    Fixed (from 2 pips), floating (from 0,9 pip), maximum low (from 0 pip)
  • Instruments:
    Forex currency, CFD for precious metals, shares, energy products
  • Regulated By:
    FSA

Freshforex Review

FreshForex is a CFD and forex broker that offers several types of accounts as well as multiple versions of MT4 trading platforms for CFD and forex trading. FreshForex was established in 2004 as an offshore brokerage and is incorporated in Saint Vincent & the Grenadines. The broker has clients from more than 200 countries worldwide and offers over 130 types of financial instruments plus a comprehensive range of educational tools. However, there are some countries whose traders FreshForex does not accept as clients, such as the United States, North Korea, Spain and the United Kingdom.

FreshForex Review – Introduction

FreshForex is headquartered in Kingstown and is owned by a reputable company called Real Capital, which has been in the financial services industry for quite some time now. At FreshForex, users can trade CFDs, precious metals, Forex, indexes, energy and securities. Furthermore, the clients of FreshForex access excellent trading training and 24-hour customer support. Not only do they help beginners learn more about trading, they have extensive programs to help experienced traders brush up their trading skills from time to time.

FreshForex Review – Regulation

FreshForex is licensed by Riston Capital Limited, which is a Russian regulator. Also, the broker is regulated by CRFIN and KROUFR; both of them handle disputes and impose penalties for errors and omissions. 

FreshForex promotes itself as a broker with excellent trading conditions in the entire industry. However, it is an offshore broker and is not regulated by top-tier regulators. Hence, dealing with such a brokerage can expose the traders to some degree of risk.

FreshForex Tradable Products

FreshForex allows traders to choose from 49 currency pairs, 7 precious metal CFDs, 68 securities CFDs, 1 index CFD and 6 cryptocurrencies CFDs.

FreshForex Spreads

FreshForex can offer a spread as low as 1.3 pips. Also, the broker’s commission starts at 0.00030% for ECN accounts. 

However, FreshForex does not charge any inactivity fee for accounts that have not been in use for quite some time.

Average Spreads For Major Pairs (Standard Account) are:

  • EUR/USD- 3 pips
  • GBP/USD- 3 pips
  • USD/JPY- 1.2 pips 

FreshForex Fees

Apart from the withdrawal fees, FreshForex also charges a withdrawal fee of 0.5% for FasaPay and Perfect Money transactions and 2.5% for credit card withdrawals. Although the minimum deposit requirement is not precisely defined, the broker recommends $200 for a Classic account, $400 for Market Pro and $2,000 for an ECN account.

FreshForex Leverage

Leverage is a facility that helps traders to open positions with huge market exposure compared to the amount actually deposited. According to FreshForex’s website, they offer leverage as high as 1:2000. However, many reviews have pointed out that 1:1000 is a more accurate leverage ratio.

FreshForex Account Types

FreshForex allows you to open the following types of trading accounts:

  • Classic Account
  • ECN Account
  • Swap-Free Account
  • ProCent Account

FreshForex Trading Platform

FreshForex offers traders the following trading platforms for a smooth trading experience:

  • MetaTrader 4 (available on Windows PC, Mac OS, as well as Android and iOS devices)
  • MetaTrader 5
  • Customized VPS For MetaTrader 4 and 5 by FreshForex

FreshForex Payment Methods

A FreshForex trading account can be instantly funded with credit/debit cards, UnionPay, OkPay, Neteller, Webmoney, WalletOne, Skrill, and FasaPay, as well as bank wire transfers. Additionally, the withdrawal requests are also processed instantly, except for some cases where it may take some time from the client’s bank end.

Opening An Account

To sign up with FreshForex, you have to visit the trading conditions page on the broker’s website. After going through the standard registration procedure, you will be able to log in conveniently.

FreshForex Trading Hours

The customer support representatives of FreshForex are available five days a week, Monday to Friday, from 10:00 to 19:00 Russian time to answer all the client’s questions. Their customer support is available via calls, email and live chat in multiple languages like Russian, Chinese, English, Arabic and Italian. 

Author myfxstreet