FreshForex

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AspectDetails
broker popularity top broker high popularity best reviews benchmark
LeverageFresh Forex provides leverage of up to 1:2000, although some reviews suggest a maximum leverage of 1:1000
Minimum Deposit$10
Year Established2004
RegulationRegulated by Russian national financial regulator CRFIN and adheres to the regulations of KROUFR
Payment methodsCredit and Debit cards, China UnionPay, OkPay, Neteller, Webmoney, Skrill Moneybookers, FasaPay, and bank wire transfers.
Publicly Traded
Employees50-100
Type of BrokerFresh Forex is a retail forex broker that provides access to the foreign exchange market for retail traders
MT4
MT5
Trading AssetsCryptocurrencies, stocks, commodities, indices, forex, and more
Demo Account
Islamic Account
CopyTrading
Signals
Deposit Fee
Withdrawal Fee
Rating★★★★
Offers Official Website

Alternative Brokers

Pros and Cons

Pros
  • Diverse range of account types to cater to traders of all experience levels.
  • Offers MetaTrader 4 and MetaTrader 5 trading platforms for seamless trading.
  • A wide selection of tradable assets, including forex, commodities, stocks, and cryptocurrencies.
  • Competitive leverage of up to 1:2000.
  • Various payment methods for deposits and withdrawals.
Cons
  • Operating from St. Vincent and the Grenadines, with no regulation from major international watchdogs.
  • Lack of detailed information about employees.
  • Limited customer support hours (24/5).

Introduction

FreshForex, established in 2004 and headquartered in Kingstown, St. Vincent, is a reputable Russian forex broker.

Over the years, the company has become a prominent player in the forex market, offering a wide range of trading services, including multiple account types, robust trading platforms, and many financial instruments.

In this comprehensive review, we’ll delve into various aspects of FreshForex to provide you with a detailed understanding of what the broker has to offer.

Editor’s Verdict

This broker is a well-established forex broker with a solid reputation, especially in the Russian and Asian markets.

While it offers an extensive array of trading services, traders should be cautious due to its offshore registration and high leverage options.

The broker’s user-friendly platforms, comprehensive educational resources, and attractive bonuses make it an enticing choice for traders looking to venture into the forex world.

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Fee

The broker does not charge deposit or withdrawal fees directly; however, payment systems and exchange services may impose commissions.

Additionally, the broker offers low trading fees with competitive spreads, enhancing its cost-efficiency.

The broker offers a diverse range of trading assets, providing traders with the opportunity to explore various financial markets.

Here’s an overview of the asset categories available for trading:

  1. Currencies: The broker offers a wide selection of currency pairs, including major, minor, and exotic pairs, providing ample opportunities for forex trading.
  2. Cryptocurrencies: Traders can access the cryptocurrency market with options such as Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and more. This allows them to participate in the growing digital currency market.
  3. Commodities: The broker provides access to commodities trading, including popular assets like gold, silver, and other precious metals. This is an excellent choice for traders interested in diversifying their portfolios.
  4. Stocks: The broker offers CFD trading on various stocks, allowing traders to speculate on the price movements of individual company shares from around the world.
  5. Oil: Trading in oil and other energy commodities is available, catering to those looking to capitalize on the energy market’s volatility.
  6. Other Commodities: In addition to precious metals and oil, it may offer trading in other commodities, expanding the range of options for traders.

The availability of these assets can provide traders with a well-rounded portfolio and the flexibility to engage in different markets.

Before trading any asset, it’s important to conduct thorough research and analysis to make informed trading decisions.

Leverage and Trading Hours

The broker offers leverage of up to 1:2000, although some reports suggest a maximum leverage of 1:1000.

Trading can occur 24/5, and it supports various trading strategies and styles.

Account Types

The company offers a range of trading account types to cater to the diverse needs and preferences of its clients.

Below are the main account types available:

  1. Classic Account: Ideal for beginners, this account provides access to more than 130 trading instruments, leverage up to 1:1000, and fixed spreads on currency instruments.
  2. Market Pro Account: Designed for active traders and scalpers, this account offers floating spreads from 0.9, execution times as low as 0.1 seconds, and access to a wide range of trading instruments.
  3. ECN Account: Geared toward professional traders, this account offers inside spreads, high liquidity, and prompt interbank execution.
  4. Swap Free Account: Available for traders adhering to Shariah law, this account can be set up for Classic, Market Pro, and ECN accounts, with a fixed commission of $5 per lot.

FreshForex’s account offerings are designed to accommodate traders at different experience levels and trading styles, ensuring that there’s an account type suitable for a wide range of clients.

Traders can select the account type that aligns with their specific trading objectives and preferences.

Demo Account

The broker offers a demo trading account, which is a valuable feature for both novice and experienced traders.

The demo account is a risk-free environment that allows traders to practice and test their trading strategies without using real money.

Here are some key details about FreshForex’s demo account:

  • Availability: The demo account is available to all traders, providing a safe environment for practicing trading skills and strategies.
  • Virtual Funds: Traders are provided with virtual funds (usually in the form of virtual currency) that can be used for trading within the demo account. This means that no real money is at risk.
  • Real Market Conditions: FreshForex’s demo account simulates real market conditions, allowing traders to experience the platform’s features and market dynamics without any financial risk.
  • Educational Tool: The demo account is a valuable educational tool for beginners to learn about trading and for experienced traders to test new strategies and instruments.
  • No Time Limit: This broker typically does not impose a time limit on the use of the demo account, giving traders the flexibility to practice for as long as they need.
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Trading Platforms

The company offers the popular MetaTrader platform series, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

These trading platforms are widely recognized and respected in the industry for their reliability, features, and user-friendly interfaces.

Here’s a closer look at the trading platforms provided by FreshForex:

  • MetaTrader 4 (MT4): MT4 is a trusted and well-established platform that caters to the needs of a wide range of traders. It offers an intuitive interface, advanced charting tools, technical indicators, and automated trading capabilities through Expert Advisors (EAs). MT4 is available for both PC and Mac OS users, as well as mobile devices running Android and iOS.
  • MetaTrader 5 (MT5): MT5 is the successor to MT4 and includes many of the same features, with added enhancements. Traders can enjoy additional timeframes, technical indicators, and an economic calendar, making it suitable for more advanced traders and those who wish to access a broader range of markets. MT5 is available on various devices and operating systems, including mobile.

This broker also offers a VPS-server service for both MT4 and MT5.

This service allows traders to enjoy smoother automated trading with Expert Advisors and other trading bots, helping to eliminate potential disruptions.

The choice of these widely used platforms means that traders can benefit from familiar tools and resources while executing trades across various asset classes on FreshForex’s platform.

Whether you prefer the user-friendly environment of MT4 or the advanced features of MT5, both platforms can be accessed via the broker’s trading services.

Awards

This broker has garnered recognition and awards in the forex industry, showcasing its commitment to providing quality trading services and support.

Here is a list of some awards and recognition received by FreshForex:

  • Opening of the year – IAFT Awards 2012: The broker was honored with the “Opening of the Year” award by IAFT (International Association of Forex Traders) in 2012. This award recognized the company’s achievements and contributions to the industry.
  • Best affiliate program – Russian Affiliate Congress & Expo 2012: FreshForex’s affiliate program was acknowledged as the best in the industry at the Russian Affiliate Congress & Expo in 2012. This recognition highlights the broker’s commitment to supporting its partners.
  • Top 10 brokers – Interfax 2014: This broker was listed among the top 10 brokers by Interfax in 2014, indicating its strong position and reputation in the market.
  • Best Asian broker – Shanghai Forex Expo 2015: The broker received the title of “Best Asian broker” at the Shanghai Forex Expo in 2015. This award recognized its excellence in providing trading conditions and support services in the Asian region.
  • Top 10 brokers – Interfax 2015: The company continued to maintain a strong presence in the industry by securing a spot among the top 10 brokers in 2015, as recognized by Interfax.
  • Best ECN broker – KROUFR 2015: The company was awarded the title of “Best ECN broker” by KROUFR (the Commission for the Regulation of Relations in Financial Markets) in 2015. This recognition highlights the broker’s commitment to offering professional and transparent trading services.
  • Dynamic Development – IAFT Awards 2015: FreshForex’s dynamic development was acknowledged with an award at the IAFT Awards in 2015. This reflects the company’s dedication to continuous growth and innovation.
  • Best client support – MasterForex-V 2015: The broker was recognized for having the “Best client support” in 2015 by MasterForex-V, underscoring its commitment to providing excellent customer service.
  • Best Trading Experience – Fxdailyinfo 2016: This broker received the award for “Best Trading Experience” in 2016 from Fxdailyinfo. This award reflects the positive trading experience provided to clients.

These awards and accolades demonstrate FreshForex’s efforts to maintain high standards in the industry and cater to the needs of its traders.

It has received recognition for its trading conditions, support services, and overall contributions to the forex community.

Regulation and Security

The company operates under the regulation of the Russian national financial regulator CRFIN and is a member of KROUFR, which handles disputes and penalties.

However, it’s important to note that it is registered in St. Vincent and the Grenadines, which lacks recognition from major international regulatory authorities.

Research and Education

The broker offers an abundance of research and educational resources, including webinars, guides, lessons, and daily Forex forecasts.

These tools aim to empower traders with the knowledge required for successful trading.

Customer Support

The company provides customer support in various languages, available 24/5 via email, phone, and online live chat.

However, it does not operate during weekends.

Bonuses and Promotions

The broker offers attractive bonuses and promotions, including tradable bonuses and deposit bonuses, which can be beneficial for active traders.

However, traders should be aware of the terms and conditions associated with these offers.

Account Opening

Opening an account with This broker is a straightforward process designed to get traders up and running quickly.

Here’s what you need to know:

Step 1: Registration:

  • To open an account with FreshForex, visit their official website.
  • Click on the “Open an Account” or “Sign Up” button.
  • You’ll be directed to a registration page where you’ll need to provide your personal information, including your name, email address, phone number, and country of residence.
  • Create a password for your account and select your preferred account type.

Step 2: Account Type Selection:

  • The broker offers various account types, including Classic, Market Pro, and ECN accounts. Choose the one that suits your trading preferences and experience level.
  • You can also open a Swap Free (Islamic) account if needed.

Step 3: Verification:

  • After registration, you’ll need to go through an account verification process. This is a standard procedure to ensure the security of your account.
  • You’ll be required to submit identity and address verification documents. These may include a copy of your ID or passport, as well as a utility bill or bank statement.

Step 4: Funding Your Account:

  • Once your account is registered and verified, you can proceed to fund it.
  • This broker offers various deposit methods, including credit and debit cards, e-wallets, bank wire transfers, and more.
  • There is no minimum deposit amount specified, but it does recommend certain amounts on its website.

Step 5: Start Trading:

  • With your account funded, you can start trading. It provides access to the MetaTrader 4 and MetaTrader 5 trading platforms, which are popular among traders.

Step 6: Education and Research:

  • Take advantage of FreshForex’s educational resources, including webinars, guides, lessons, and daily forex forecasts. These can help you enhance your trading skills and knowledge.

Step 7: Customer Support:

  • If you have any questions or encounter issues during the account opening process, the broker offers customer support in various languages. You can contact them via email, phone, online chat, or by filling out an online request form.

Step 8: Trading and Monitoring:

  • You can monitor your trades and account activities through the trading platforms provided. These platforms offer a range of features and tools to assist your trading decisions.

Overall, the company aims to make the account opening process as efficient as possible, enabling traders to get started in the forex market with ease.

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Payment Methods

The company provides traders with a variety of payment methods for depositing and withdrawing funds. Here’s an overview of the payment options available:

Deposit Methods:

  1. Credit and Debit Cards: The broker accepts payments through major credit and debit cards, making it convenient for traders to fund their accounts using Visa and MasterCard.
  2. China UnionPay: This payment option allows Chinese traders to deposit funds securely. It’s a popular choice for those in China.
  3. OkPay: OkPay is an electronic payment system that can be used for deposits at FreshForex.
  4. Neteller: A widely used e-wallet, Neteller is a fast and secure method for depositing funds into your trading account.
  5. Webmoney: The broker supports Webmoney, another popular e-wallet option among traders.
  6. Wallet One: This electronic wallet is another convenient method for funding your FreshForex trading account.
  7. Skrill (Moneybookers): Skrill is a reputable e-wallet service that allows for seamless deposits.
  8. FasaPay: FasaPay is a payment method popular in Asian countries, offering secure transactions for traders in the region.
  9. Bank Wire Transfers: Traditional bank wire transfers are accepted by FreshForex. However, these transfers may take longer to process than other methods.

Withdrawal Methods

The broker aims to provide traders with safe and transparent financial transactions, and they offer withdrawal options that are similar to their deposit methods.

Withdrawals can be made using the same methods as deposits, including credit and debit cards, e-wallets, and bank wire transfers.

It’s important to note that the time for account funding and withdrawal processing may vary depending on the client’s bank and the specific payment system used.

The size of commissions and transaction delays is determined by the payment systems and exchange services, rather than by FreshForex itself.

This means that the company isn’t responsible for the size of commissions and delays associated with these transactions.

The broker aims to provide clients with a convenient and reliable payment experience, allowing traders to choose the method that suits them best.

They also promise instant crediting of funds to trading accounts and swift withdrawal processing, which is an advantage for many traders.

Is it a Good Broker?

The broker offers a range of features that make it an appealing choice for traders, including diverse account types, user-friendly trading platforms, and ample educational resources.

However, traders should exercise caution due to the lack of major international regulation and the high leverage options.

Alternative Brokers & Comparisons

When considering a forex broker, it’s essential to compare different options to find the one that best suits your trading needs.

Here’s a comparison with some alternative brokers in the industry:

1. FreshForex vs. XM:

  • FreshForex: Offers a maximum leverage of up to 1:2000, multiple trading account types, and a wide range of tradable assets, including cryptocurrencies. They provide research materials, educational resources, and good customer support.
  • XM: Known for its strong regulatory framework, offering a maximum leverage of 1:888, and many trading accounts. They provide a range of educational content and have a user-friendly platform.

2. FreshForex vs. eToro:

  • FreshForex: Offers high leverage of up to 1:2000, various account types, and a broad range of trading assets. They provide research, educational resources, and good customer support.
  • eToro: A social trading platform with a unique approach to trading, offering features like CopyTrader. eToro is known for its social and community aspects, while it is more focused on traditional trading. Leverage on eToro is typically lower (1:400) compared to FreshForex.

3. FreshForex vs. IG Group:

  • FreshForex: Offers high leverage of up to 1:2000, different account types, and a wide range of assets for trading. They also provide research and educational resources.
  • IG Group: IG is a well-established broker, known for its strong regulatory framework. It provides traders with a comprehensive platform, educational content, and research tools. However, IG may not offer as high leverage as FreshForex.

4. FreshForex vs. Pepperstone:

  • FreshForex: Offers high leverage, various account types, and a wide range of assets. They also provide educational resources and research materials.
  • Pepperstone: Known for its competitive spreads and excellent execution speed. They offer a range of platforms, educational content, and research tools. While leverage is available, it may not be as high as what FreshForex offers.

5. FreshForex vs. OANDA:

  • FreshForex: Offers high leverage, various account types, and an extensive list of trading assets. They provide research and education resources, as well as good customer support.
  • OANDA: Known for its user-friendly platform and a strong regulatory framework. OANDA provides educational content, research tools, and a practice account. Leverage may be lower compared to FreshForex.

Remember that the choice of a broker should align with your trading goals, risk tolerance, and the features that matter most to you, such as leverage, account types, and available assets.

Consider factors like regulatory compliance, fees, and the quality of customer support when making your decision.

Additionally, it’s a good practice to thoroughly research and compare brokers to find the one that suits your trading style and preferences.

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Conclusion

The broker is a well-established forex broker with a strong presence in the Russian and Asian markets.

It offers a wide array of trading services, user-friendly platforms, and comprehensive educational resources.

However, traders should be mindful of the broker’s offshore registration and high leverage options.

Careful consideration and research are essential before choosing FreshForex as your broker.

Contact Info

FAQ – Frequently Asked Questions

What is FreshForex?
FreshForex is a forex and CFD broker founded in 2004 and headquartered in Kingstown, St. Vincent and the Grenadines. It offers trading services to retail and institutional clients and provides access to the global financial markets.
Is FreshForex regulated?
This broker is regulated by the Russian National Financial Regulator (CRFIN) and is subject to the regulations of KROUFR for handling disputes and penalties. However, it’s important to note that it operates from St. Vincent and the Grenadines, which may involve higher risks due to less-known regulatory oversight.
What trading platforms does the broker offer?
The broker offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These platforms are available for Windows, Mac, mobile devices (Android and iOS), and web-based trading.
What is the maximum leverage offered by FreshForex?
The broker provides a maximum leverage of up to 1:2000, although some reviews suggest that the more common leverage is 1:1000.
Does the broker offer a demo account?
Yes, the broker offers a demo trading account, allowing traders to practice and test their strategies with virtual funds before trading with real money.
What are the deposit and withdrawal methods available?
FreshForex provides a variety of deposit and withdrawal options, including credit and debit cards, e-wallets like Neteller and Skrill, bank wire transfers, and cryptocurrencies such as Bitcoin. They claim to offer swift and transparent financial transactions.
Are there fees associated with deposits or withdrawals?
The broker states that they do not charge fees for deposits. However, commission fees and transaction timing may vary depending on the payment methods and financial institutions involved.
What types of trading accounts are offered by FreshForex?
This broker offers several types of trading accounts, including Classic, Market Pro, ECN, and Swap-Free accounts. Each type has its unique features and is suitable for different trading styles.
Does the broker provide educational resources and research materials?
Yes, The broker offers educational resources, including webinars, guides, lessons, and an encyclopedia for traders called CleverFX. They also provide daily forex forecasts and fundamental reviews to help traders stay informed.
What are the customer support options at FreshForex?
The broker offers customer support in multiple languages, including Russian, English, German, Chinese, Arabic, and Italian. Support is available 24/5, and you can reach them through email, phone calls, online live chat, and an online request for information form.

References and Sources

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Last updated: April 11, 2024