FreshForex Broker Information
- Jurisdiction: Saint Vincent and the Grenadines
- Regulators: -
- Founded: 2004
FreshForex Quick reference
FreshForex is a currency and CFD broker. BrokerTribunal prepared some information about it. It will be your starting point in deciding whether to trade with Fresh Forex or not.
5 facts you need to know first
- Fresh Forex has been providing services for 16 years. This is a lot if you consider the life expectancy of an average broker.
- 139 instruments are available for trading: currency pairs, CFDs on precious metals, indices, stocks, energy and cryptocurrencies.
- Orders are executed in 0.05 seconds or faster. According to the official website, there are no slippages.
- The broker does not charge a commission for replenishing trading account. Withdrawing funds doesn’t take longer than 10 minutes.
- FreshForex is owned by Riston Capital LTD. The latter was registered in the offshore zone - on the island of Saint Vincent and the Grenadines. It is unknown whether it has licenses.
Fresh Forex Trading conditions
You can open different types of accounts with a broker.
- Training. Testing strategies without financial investments. A novice trader decides how much virtual money he/she needs.
- ProCent is a cent account for honing strategy. Micro-deals from 10 base currencies and a leverage of 1: 1 000 are available.
- Affiliate. If you do not want to trade you can promote FreshForex services. The easiest way to do this is to post promotional materials online and attract new traders.
- ECN. Trade with counterparties that offer the best prices. It gives an opportunity to analyze the strategies of other exchange members.
- Swap-free is a special account on which swaps are not charged. When positions are transferred, the trader pays only a commission that is not tied to interest rates.
- Trading: Classic, Market Pro, ECN. The first is suitable for starting real trading, the second is for active traders and scalpers, and the latter is for professionals.
Classic, Market Pro and ECN details
A bit unusual, but FreshForex has no deposit requirements. You can put just $ 10. But will that be enough? Fresh Forex gives its recommendations. According to the broker, it will be comfortable with $ 200 on the Classic account, with $ 400 on Market Pro, and from $ 2 000 on ECN.
You can deposit funds into your account in dollars, rubles, euros and bitcoin. The minimum order volume is 0.01 lots, the execution mode of transactions is market-driven, swaps are market-driven.
On the Classic account, spreads are from 2 points, on Market Pro - from 0.9, and ECN - from 0.
In the same sequence of accounts, collateral requirements grow (from 0.05% to 0.1%), the stop-out level rises (from 20% to 60%), and the maximum volume of one order grows (from 20 lots to 10 000).
Let's clarify that trading takes place on MetaTrader 4/5.
FreshForex Personal account
FreshForex registration involves two steps. On the first you leave a phone number and mail. And on the second you fill in the form and enter the passwords that the broker sends you.
Next on the list there are three more required actions. 1. Replenish your account in a convenient way. 2. Verify your identity. You need to download the main page and the registration page of passport. 3. Download the MetaTrader trading terminal.
In your account you solve all the organizational issues of your trading. Enter and withdraw funds, set up SMS notifications, track open / closed orders, connect promotional offers and bonuses.
Analytics and training in Fresh Forex
When you get used to your account, do not rush to open transactions on MetaTrader. FreshForex has analytics. In this section you will find:
- fresh forecast,
- financial news,
- holiday calendar,
- Event calendar,
- trading session schedule,
- interest rates.
Perhaps fresh forecasts are the most valuable. Experts publish the results of technical and fundamental analysis. It is convenient to use the calendar of events: something happened and the trader has an assessment of the importance and a brief forecast at his/her disposal.
To independently analyse the situation in the markets, you can refer to the “Training” section. FreshForex reviews and conducts master classes. You need to tentatively sign up for he video broadcast.
The broker also prepared a Forex tutorial, a glossary of terms and a list of recommended literature.
FreshForex Promotions and bonuses
FreshForex has a whole portfolio of promotions and bonuses. It is updated from time to time, and as for the beginning of 2020 it looks like this:
- 120% annual interest on margin,
- insurance against stop-out,
- 200% for each deposit,
- 101% for drawdown,
- no commission for replenishment,
Bonuses and promotions have descriptions. Whatever interests you, read the “Detailed Terms”. For example, let’s take “200% for each replenishment”. The scheme is like this: if you received $ 1,000, you need to open 350 transactions so that the money could be transferred to the balance.
You can ask broker's representatives questions by calling 8-800-333-88-08, in online chat, on freshforex skype and on firstname.lastname@example.org email.
The central office is allegedly located in Saint Vincent and the Grenadines. However, the address indicated on the site is used by almost half of the brokers.
You can track the activity of FreshForex on social networks: Twitter, VKontakte and Facebook. Sometimes the media write about the company.
Now you own basic FreshForex data. You will need this information to evaluate the broker. And if you have already traded with this broker, share your experience in the comments. Your story may be useful for BrokerTribunal readers.