FreshForex

FreshForex online broker review and test – How reliable is the platform?

Table of contents:

The list of online brokers might go on and on, but we’re here to tell you that only a handful are worthy of your trust. FreshForex has offered more than 15 years of reliable service in the financial industry.

We have over 9 years of experience in the financial market, and we’re happy to let you in on the secret of the best trading brokers globally. In this article, we’ll review the trading conditions of FreshForex – from its vision, assets, platforms, costs, and licensing and regulations.

When it comes to handling your assets, never underestimate the importance of finding a legit online broker. We’re here to help you keep a close eye on the company that will lead you towards expanding your life investments.

Getting to know FreshForex

FreshForex was founded in 2004, and it has become the leading trader in Russia ever since. FreshForex is operated by Riston Capital LTD. This offshore broker was registered by the Financial Services of St. Vincent and the Grenadine – SVG FSA.

Since then, the company has called the attention of investors from over 200 countries worldwide. Aside from its parent country Russia, FreshForex is one of the top online brokers in the European Union. FreshForex currently provides over 130 tradable instruments for a rich investment experience for both newbie and veteran traders.

For the past 15 years, FreshForex has led the online financial industry in offering CFD and forex trading through various account types and platforms. FreshForex doesn’t require a minimum deposit for any of its accounts!

This online broker offers seriously competitive spreads and excellent execution speeds. We’re fans of their wide selection of trading tools and No Dealing Desk policies. This highly reliable broker uses a Smart Bridge Technology to give the best service to clients in pricing and execution.

Clients who might doubt FreshForex should look into the many awards that the company has garnered since 2004. FreshForex has received over 20 awards for its exceptional services. In fact, FreshForex was recently named the Best ECN broker and was also awarded Best in Trading Experience.

Facts about FreshForex:

  • Riston Capital LTD
  • Established in 2004 and licensed in Saint Vincent and the Grenadines
  • ECN and Forex trader
  • No Dealing Desk broker
  • Operates on Smart Bridge Technology
  • Offers 139 tradable instruments
  • MT4 and MT5 platforms
  • Over 20 awards in the Trading industry

Review of regulation and safety for clients

While it’s great to have so many opportunities for economic expansion on the internet, be extra wary when trusting online brokers with your assets. Online trading, and all forms of investments for that matter, require careful review of regulations and licensing. Take note that licensed inline brokers are required to meet specific criteria and guidelines to continue operations.

As confirmed on their official website, FreshForex is licensed by SVG FSA. It should be noted that not much detail is shared on the company website about their licensing and regulations. Clients who sign up with FreshForex should know that these types of regulations are hard to verify.

Licensed online brokers are required by these regulators to strictly comply with capital requirements. They should also meticulously manage risk and staff training, financial compliance, and auditing. SVG FSA doesn’t reach the same level of protection as other more reputable regulating institutions.

FreshForex is authorized by:

– Financial Services of St. Vincent and the Grenadine – SVG FSA

Review of Financial Security

FreshForex is arguably one of the most trusted online brokers in Russia. FreshForex is operated by the largely influential Riston Capital, one of the biggest names in the Forex industry. Rest assured that FreshForex strictly complies with CRFIN, Russia’s financial regulator. Additionally, FreshForex only works with only licensed European regulatory authorities as its liquidity providers.

All clients that sign up with FreshForex must verify their identity through their meticulous application procedures. To successfully fulfill your application, clients must submit a government-issued ID along with a bank statement or utility bill with proof of residential address.

The FreshForex website is also protected by advanced SSL technology. This means that all of your personal data is protected as it moves through serves. Rest assured that no third-party hackers will access your sensitive information. FreshForex went as far as to add another regulating body – KROUFR – to handle penalties.

When signing up with a broker, make sure that you fully understand the implications of capital risk due to market volatility. Now, let’s get started on discussing the trading conditions of FreshForex to figure out if it is the right fit for you.

FreshForex trading conditions

The most notable feature of FreshForex is the application of Smart Bridge Technology. This versatile program allows hedging against Forex trading risks. In short, FreshForex works directly with liquidity providers to provide real-time execution of trades. Remember that when it comes to trading, time equals money and assurance of the best market price.

FreshForex provides its clients a great opportunity to grow their profile. With clients from over 200 countries, it’s not hard to trust this reputable company. FreshForex clients can find an account suitable for their financial profile with the wide selection of account types available. Clients can get behind the trusted MT4 and MT5 trading platforms.

FreshForex offers over 140 assets across six main asset classes: currencies, stocks, indices, cryptocurrencies, energies, and precious metals. All in all, that’s a whopping 40 Forex currency pairs, five of the top cryptocurrencies, 11 global indices, 60 corporate stock CFDs, gold and silver CFDs, and oil and gas.

FreshForex also provides rich educational tools for both expert and beginner traders. Browse through their comprehensive education centre that provides endless tips and strategies for a worthwhile and rewarding trading experience.

Since FreshForex was established over 15 years ago, this online broker has received over 20 awards! FreshForex was awarded the ‘Best ECN broker by the reputable KROUFR regulatory board in 2015. Only five years ago, FreshForex also received the ‘Best Trading Experience’ by FXDailyInfo, one of the most reputable financial trading sites in the forex industry. FXDailyInfo is a popular hub among expert forex traders for valuable financial information, so you can rest assured that they know what they’re talking about.

Review of account types

Unlike most trading websites, FreshForex offers multiple account types. This is a great detail for more advanced traders looking for versatility and customizability of their accounts. Clients will be surprised to know that FreshForex doesn’t require a minimum deposit, though the company recommends starting at 200 USD to fully benefit from your account. Take note that you should only trade after understanding the risks of investments.

All trading accounts under FreshForex have the MT4 and MT5 platforms available for use. Read on to know more about the most notable features of FreshForex accounts:

Demo Account

If you’re new to trading, don’t hesitate to try FreshForex Demo accounts. Freely test out all the trading platforms and hone your strategies for free with the FreshForex Demo account.

Classic Account

To fully benefit from the Classic account, clients are recommended to deposit at least 200 USD. This account features fixed spreads for forex instruments starting at two pips with a leverage between 1:25 to 1:200. Take note that the max. order size is at 20 lots. No commissions are charged for this account.

ProCent Account

As you may have guessed, this account is denominated in cents. The ProCent account is great for new traders who want to take the risk of a live account while honing their trading skills. The max. leverage for this account is at 1:1000, while you can trade 10 units of micro lots of your base currency.

Market Pro Account

This account is geared toward the more experience trader. FreshForex recommends a minimum deposit of at least 400 USD. This account features a floating spread starting at 0.9 pips, while the leverage is between 1:20 to 1:500. Clients can take advantage of maximum order size of 10 lots and zero commission fees.

Users are required to pay a commission fee of 0.03% per contract.

ECN Account

FreshForex also offers an ECN account with a recommended deposit of 2,000 USD for professional traders. Take advantage of the spreads that begin at zero pips and a maximum order size of 10000 lots. Clients can benefit from insider spread, easy interbank switching, and high liquidity.The leverage can range between 1:20 to 1:500.

Swap Free Accounts

FreshForex also caters to Muslim clients with a Swap free account that complies with the Sharia law. Clients have full use of the MT4 platform with this account.

As broker fees can vary and change, there may be additional fees that are not listed in this FreshForex review. It is imperative to ensure that you check and understand all of the latest information before you open a FreshForex broker account for online trading.

Review of Fees

FreshForex clients should note that the company doesn’t charge deposit fees and commissions from specific account types. Before opening an account with FreshForex, remember to review the latest information on their website since these terms are subject to change. Additional fees might need to be applied depending on the account type, payment method, and the market conditions.

FreshForex allows withdrawal through various methods: Bank of Malaysia, Visa, Debit/Credit Card, Mastercard, Bitcoin, Neteller, Skrill, and various electronic payment methods. All these options will generally have a minimum deposit, and a withdrawal fee of 0.5% to 2% depending on the method. Electronic deposits and withdrawals are processed within a few minutes, while more traditional payment methods will take about 1 to 5 business days.

Review of Spreads and Commissions

FreshForex offers one of the most competitive spreads and fees on ECN. Spreads are fixed with the Classic account while they are variable with the ProCent and Market Pro accounts. Take note that all these accounts require a minimum 01.1 lots order size.

Rest assured that all accounts are commission-free, aside from the Market Pro account that requires a 0.03% commission per contract.

Take advantage of the narrow floating spreads that start at 0 points and the Smart Bridge Technology that ensures No Dealing Desk operations and accurate market quotes. Information on commissions, swaps, and spreads can easily be accessed on the FreshForex website.

Review of Leverage

Leverage will depend on the type of account you sign up with. Benefit from a maximum leverage of:

  • 1:2000 for a Classic account
  • 1:1000 for ProCent accounts
  • 1:500 for Market Pro and ECN accounts.

Review of Education and Training Tools

FreshForex takes the education and training of its clients to the next-level. To keep its clients on top of the game, FreshForex offers multiple interactive and informative research tools such as instructional videos and books. These materials are meant to help both beginner and veteran traders hone their knowledge of market analysis and to find a trading strategy that works for them.

The FreshForex tutorial consists of four courses and an exam. These cover the topics of:

  • Introductory course on the forex market, with special lessons on trading, charts, and platforms
  • Prediction of price movement and analysis
  • Essentials of profitable trading includes lessons on forex money management, psychology of trading
  • Trading systems, strategies, and more

Browse through the comprehensive list and articles that will expand your knowledge of the forex industry. Know how to expand your profile and assets through the many articles, webinars, and instructional videos.

We are fans of the FreshForex encyclopedia and dictionary. Easily browse through an expansive glossary of forex terms and definitions, as well as several articles on online trading, the economy, forex, and CFDs. The FreshForex encyclopaedia is easy to navigate since its arranged by category, topic, and in alphabetical order.

Review of FreshForex trading platforms

FreshForex offers powerful modern trading platforms for a reliable and user-friendly experience. The most trusted MT4 and MT5 platforms are available through desktop, smartphones, and tablets, so you can manage your profile anywhere in the world. Benefit from the comprehensive analytics tools, daily market reviews, and detailed trading signals.

MetaTrader4

This platform is undoubtedly the most popular forex and CFD online trading platform. The MT4 platform is fast, stable, and packed with professional trading and analysis tools. Get a rich trading experience with its support of multiple orders and complex charting!

MT4 is a great option for traders who have multiple devices and who are always on-the-go. Access all your valuable trading information on your desktop or iOS and Android devices.

Enjoy these MT4 features:

  • More than 30 technical indicators
  • 24 graphical and analytical tools
  • 3 chart types and 9 timeframes
  • Real-time data
  • Automated trading
  • Market execution mode
  • 4 pending order on multiple order management

MetaTrader5

The MT5 platform was specifically designed to improve the MTF platform. If the MT4 platform works wonders, you can only imagine the improved capacity and function of the MT5! The MT5 is loaded with advanced trading tools for professional traders.

Enjoy the benefit of more detailed charts, technical indicators, and trading tools! You can also access trading robots and comprehensive historical data on the MT5 platform.

Enjoy these MT5 features:

  • More than 38 technical indicators
  • 44 graphical and analytical tools
  • unlimited chart types and 21 timeframes
  • Real-time data
  • Automated trading
  • Market execution mode
  • economic calendar
  • 6 pending order on multiple order management

Review of Bonuses and Promotions

FreshForex is generous when it comes to regular bonuses and promotions.

In fact, FreshForex offers a 2021 USD no deposit bonus to new traders who open an account with the company! FreshForex also offers a trade non-stop deal for making a trade for five consecutive days.

If you’re currently dealing with a different broker, switch to FreshForex and you’ll get a 50% welcome bonus on your first deposit! Users can also get as much as a 35% deposit bonus on subsequent occasions.

Clients who deposit or have a balance of more than 500 USD can get as much as 200% deposit bonus as well as a 101% drawdown bonus. This is accompanied by a 30% top up and stop out insurance.

It may be hard to overlook such great promotions, but remember to carefully review the terms and conditions of such bonuses.

Review of customer support

FreshForex offers customer support 24 hours, 5 days a week via telephone, live chat, and email. Clients are promptly accommodated by an expert agent who will diligently address all their concerns and inquiries. The customer service team can communicate in multiple languages.

Choosing to Trade with FreshForex

Now that we’ve reviewed FreshForex, we’re sure that you have an idea if this online broker is suitable for you. Let’s get back to the most critical points of FreshForex:

FreshForex is registered by the SVG FSA, as well as other reputable regulating bodies KROUFR and CRFIN. FreshForex offers over 140 tradable products across six different asset classes. This includes forex, stocks, indices, cryptocurrencies, energies, and precious metals FreshForex then hopes to provide enough flexibility and diversification for traders of all levels.

FreshForex offers the world’s most reputable trading platforms, MT4 and MT5. Clients can rest assured to get the fastest execution times, versatile solutions, and the most useful services through the MetaTrader platforms.

FreshForex also offer multiple account types to suit different trading styles and to support traders of all levels. Choose between a Classic, Pro Cent, Market Pro, or ECN account depending on your profile and skill level. Beginners can even opt to sign up for a Demo account before going live.

Clients can reach their goals through limitless amount of education and training tools provided by FreshForex. Reliable customer support is also readily available 24 hours a day, 5 days a week.

With over 20 awards to its belt and 15 years of quality trading services, you won’t find a more reliable, versatile, and powerful solution as FreshForex.

How to trade on FreshForex

Opening a Demo account

If you’re curious about FreshForex, don’t hesitate to try their services for yourself. Especially if you’re new to online trading, try out their Demo account to efficiently hone your trading skills and to try out the powerful MT4 and MT5 platforms.

Opening a live account

Opening a live account may be a little confusing for beginner traders. As stated before, FreshForex offers several account types and it might be difficult to decipher which option is the best for you. In that case, make sure to carefully review your assets and risk capacity.

Opening a trading account will require you to provide your email address and contact number, Before proceeding, make sure that you are:

  • 18 years old and above
  • agree to the access and storage of your personal info
  • not a citizen or resident of N. Korea, US, UK, or Spain
  • not a public official or political figure (within past 12 mos.)

From there, FreshForex will ask you to provide your name, and choice of: platform, account type, base currency, and leverage. Once you verify your email and contact details, you will be redirected to your profile, where you should submit additional documents to continue trading online.

Take note FreshForex serves licensing and regulation rules, so you will have to verify your email, phone number, and residence through a government-issued ID and a bank statement or utility bill that shows your residential address. Make sure that these documents were issued in the past three months.

Conclusion of the review: Should I invest with FreshForex? – We think, yes!

FreshForex is an award-winning online broker that has served the forex community for over 15 years. This highly reputable forex and ECN broker has been chosen by thousands of novice and professional traders from over 200 countries!

With over 140 tradable assets and a wide selection of account types all FreshForex are set up for success. Benefit from research-driven educational and trading resources, market analysis, trading ideas, and trading tools to reach your potential as a trader. Multiple payment options are available through various platforms so clients have convenient access to their assets at all times.

Advantages:

  • Suitable for novice and veteran traders
  • No minimum deposit for live trading accounts
  • Powerful MetaTrader Platforms
  • Versatile account types suitable for all trading styles
  • Wide selection of educational and trading tools
  • Over 20 awards including Best ECN Broker and Best Trading Experience
  • Generous bonuses and promotions

Disadvantage

  • Lacks reputable regulation
  • Doesn’t cater to USA, UK, Spain and North Korea traders
  • Limited trading tools

FAQ

Is FreshForex legit and safe?

While FreshForex is registered by SVG FSA, this regulatory body lacks the reputation of more respectable financial supervising entities, like the FCA, ASIC, or CySEC. We also noted some negative reviews from clients online regarding the reliability of an offshore site.

Before you sign up with FreshForex, make sure you understand the implications of getting in business with an unregistered online broker.

What can I trade at FreshForex?

Clients can trade over 130 instruments over six asset classes. This includes forex, cryptocurrencies, stocks, indices, precious metals, and energies.

What is the minimum deposit amount at FreshForex?

FreshForex doesn’t require a minimum deposit fee under all its account types, though they do recommend starting with 200 USD for beginner accounts to 400 to 2,000 USD for more advanced accounts.

See our similar broker reviews: