FreshForex Forex Trade Platform and Broker Review

FreshForex Forex Trade Platform and Broker Review

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FreshForex Broker Review

FreshForex is an award-winning online brokerage firm that was founded in 2004 and is based in Saint Vincent and the Grenadines. FreshForex’s main services surround the provision of financial services and solutions to retail and professional forex traders.

FreshForex has more than 10 employees and only has offices based in Saint Vincent and the Grenadines.

Is FreshForex Regulated?

No, according to the FreshForex official website, FreshForex does not have regulations. The official FreshForex website contains a certificate of incorporation and a certificate of good standing. 

Is FreshForex Regulated in the United States?

No, FreshForex is not regulated in Virginia or any other US state. 

Is FreshForex Regulated in Europe?

No, according to the official website, FreshForex is not regulated in Europe.

Is FreshForex regulated in a Tier-1 Jurisdiction?

With Tier-1 Jurisdiction, brokers may provide financial services and products to forex traders in Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Israel, Japan, Luxembourg, Netherlands, New Zealand, Norway, Puerto Rico, Singapore, Sweden, and Switzerland.

According to the official FreshForex website, FreshForex is not regulated in Tier-1 jurisdiction.

Is FreshForex regulated in Tier-2 Jurisdiction?

With Tier-2 Jurisdiction, brokers are provided with the necessary license to offer financial services and operate in the British Virgin Islands, Cayman Islands, Cyprus, Italy, Malaysia, Mexico, Poland, Portugal, Spain, and Taiwan.

According to the official website, FreshForex is not regulated in Tier-2 jurisdiction.

What are the Platforms and Tools for Forex Trading in FreshForex?

FreshForex offers forex traders the powerful and popular MetaTrader 4 and MetaTrader 5 that can be used to execute trades.

  1. FreshForex MetaTrader 4 is the most popular trading platform in the industry that is used by most forex traders. With MetaTrader 4, forex traders have access to real-time price feeds, a variety of back-office components, front-end terminals, and a well-designed, intuitive interface.
  2. FreshForex MetaTrader 5  offers Forex traders additional tools and functionalities. With MetaTrader 5, forex traders have access to additional indicators, time frames, analytical objects, and more robust charting capabilities.

Does FreshForex Have a News Blog for Forex News?

No, FreshForex does not have a news blog for forex news according to the official FreshForex website.

Does FreshForex Have a Traders Dashboard?

No, FreshForex does not have a forex traders dashboard according to the official FreshForex website.

Does FreshForex Have an Educational Section?

Yes, according to the official website, FreshForex has an educational section for forex traders. 

What is the content of FreshForex Forex Education?

FreshForex offers forex traders with a comprehensive Educational Section comprising of:

  1. Forex Trading: Online Guide For Beginners (4 courses).
  2. The Trader’s path: Learn Forex (7 Steps)
  3. Forex Webinars
  4. Forex Reading
  5. Forex Glossary

The FreshForex Forex Trading: Online Guide For Beginners has four courses covering the following:

  1. “Introduction to the Forex Market”.
  2. “How to predict the price movement”.
  3. “What do you need for profitable trading?”
  4. “Trading System: The Way to Success”.

The FreshForex Trader’s Path: Learn Forex comprises of the following:

  1. “Senior Student”.
  2. “Following the First Victory”.
  3. “Plunged into Trading”.
  4. “Setback”
  5. “Return to Trading”.
  6. “Occupation – Trader”.
  7. “Professional”

FreshForex offers forex traders video lessons from experts who have acquired unique knowledge about forex trading. These are presented by FreshForex through webinars for free. forex traders can sign up for video training and lessons every week.

The FreshForex Reading section offers forex traders with forex literature to help them despite the trading experience level they have. Some titles contained in this section include:

  1. “Forex Fundamental Analysis”.
  2. “Technical Forex Analysis”.
  3. “Money Management on Forex”.
  4. “Trading Psychology”.

The Forex Glossary is presented in a comprehensive manner from A to Z, with the most common, and uncommon, forex terms and their definitions, helping forex traders navigate trading jargon that they face daily.

Is FreshForex Legit?

No, FreshForex is not legit as a result of its lack of regulation. According to the FreshForex official website, the broker does not have regulation or authorization.

Is FreshForex Safe?

No, FreshForex is not safe as it is not a regulated broker, as according to the official website which shows an absence of regulation.

Is FreshForex a Good Broker?

In terms of security, FreshForex is not a good broker. According to a Forex Review, in terms of trading speed, online support, and cryptocurrencies, FreshForex is a good broker.

  1. In terms of trading speed, according to the official FreshForex website, trade execution is from 0.05 seconds without requotes.
  2. In terms of online support, FreshForex offers a live chat option that can be accessed 24 hours a day, 5 days a week.
  3. In terms of Cryptocurrencies, FreshForex offers the trade in Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash as a contract for difference (CFD).

What is the Offering of Investment in FreshForex?

Offerings of FreshForex can be found below.

Feature FreshForex
Forex Trading Yes
CFDs Yes
Forex Pairs Yes
Cryptocurrency (Physical) No
Cryptocurrency (CFD) Yes
Social Trading  No

Does FreshForex have Nasdaq?

Nasdaq is the second-largest stock exchange in the United States by market capitalization, tracking the top technology stocks in the US.

As a Nasdaq owner, according to the official website, FreshForex offers trades on Nasdaq by offering Share and Indices CFDs.

What are the Awards of FreshForex?

Forex Trading Platform FreshForex’s awards are listed below.

  1. Best Trading Experience (2016) – Fxdailyinfo
  2. Best Client Support (2015) – MasterForex-V
  3. Dynamic Development (2015) – IAFT Awards
  4. Best ECN Broker (2015) – KROUFR
  5. Top 10 of Brokers (2015) – Interfax

How to Use FreshForex for Forex trading?

To use FreshForex, a forex trader should have the necessities below:

  1. Forex traders must be 18 years old, or older.
  2. Forex traders must agree to the processing and storage of their personal data.
  3. Forex traders must declare that they are not a Belgium, DPRK, French, Russian, UK, US, or Spanish Resident.
  4. Forex traders must have a valid ID and proof of their residential address.
  5. Forex traders must be able to afford the minimum deposit.

Once a forex trader meets the conditions above, they can register a forex trading account to use the services of FreshForex.

How to open a Forex trader account with FreshForex?

To open a Forex Trading account with FreshForex, a trader should follow the steps below.

  1. Forex traders can navigate to the official FreshForex website and select “Start Trading”.
  2. Forex traders must provide their mobile number and email address before they can proceed.
  3. Forex traders must provide their First and last name and the confirmation code that was sent to the email address and mobile number that they entered.
  4. Forex traders must select their trading platform, account type, account base currency, leverage, whether the account is a Swap-free/Islamic Account.
  5. Forex traders must provide information pertaining to their residential address, income, financials, and trading experience.
  6. Lastly, before the account can be approved, forex traders must provide proof of their ID and residential address as part of the “Know Your Client” and Anti-Money Laundering processes.

What are the Forex Trader Account Types with FreshForex?

Forex Trading Platform and Financial Asset Management Institution FreshForex offer 6 different account types.

FreshForex Account Types are listed below. 

  1. Demo Account

  2. Islamic Account

  3. ProCent Account

  4. Classic Account

  5. Market Pro Account

  6. ECN Account

 

  • Demo Account

FreshForex offers forex traders a free risk-free demo account that can be used by beginner forex traders as a practice account, allowing them to gain more trading experience and skills. The risk-free demo can also be used as an account to test trading strategies or to test out FreshForex’s offering.

  • Islamic Account

Muslim forex traders who follow the Sharia Law are prohibited from earning/paying interest such as overnight fees. These fees are credited/debited to/from the trading account when forex traders keep positions open for longer after the trading day has ended.

By offering a swap-free/Islamic Account, FreshForex offers Muslim forex traders halal trading without risking jeopardizing their beliefs.

When using this option, Muslim forex traders must note that there are additional commissions charged between $5 per lot up to $200.

  • ProCent Account

The FreshForex ProCent Account caters to beginner forex traders and offers an account that is denominated in cents. This account features the following:

  • Recommended minimum deposit from $20.
  • Maximum leverage of 1:1000.
  • USC as the account currency.
  • Access to MetaTrader 4 and MetaTrader 5.
  • Access to Expert Advisors.
  • Access to Micro Lot trading.
  • Maximum order size of 2,000 lots.
  • Fixed spreads from 2 pips.
  • Commission-free trading.
  • Market execution.

 

  • Classic Account

The FreshForex Classic Account caters to a variety of forex traders from beginners to more advanced forex traders, offering them competitive trading conditions. The features on this account type are as follows:

  • A minimum deposit of $200.
  • Fixed spreads from 2 pips.
  • Leverage from 1:25 up to 1:200.
  • Maximum order size of 20 lots.
  • Commission-free trading.
  • Margin calls of 50% on a single position.
  • Long swap of -0.78 pips and short swap of -0.12 pips on EUR/USD.

 

  • Market Pro Account

The FreshForex Market Pro Account caters to professional forex traders who want to get the most from their trading while having access to the best possible trading conditions. The Market Pro Account has the following features:

  • Recommended minimum account balance of $400.
  • Floating spreads start from 0.9 pips.
  • Leverage that ranges from 1:20 to 1:500.
  • Maximum order size of 100 lots.
  • Commission-free trading.
  • Margin calls of 50% on a single position.
  • Long swap of -7.76 pips and short swap of -1.19 pips on EUR/USD.

 

  • ECN Account

The FreshForex ECN Account offers forex traders some of the most competitive pricing in the industry. This account is used by active forex traders who trade high volumes. The ECN Account’s features are as follows:

  • The recommended deposit amount is $2,000.
  • Spreads start from 0.0 pips.
  • Maximum order size of 10,000 lots.
  • Leverage is from between 1:20 and 1:500.
  • There are commission charges of 0.03% per contract.
  • Margin calls of 50% on a single position.
  • Long swap of -7.76 pips and short swap of -1.19 pips on EUR/USD.

How to Withdraw Money from FreshForex?

To withdraw money from FreshForex, the following should be done:

  • Forex traders can visit the official FreshForex website and log into their client area.
  • Forex traders can select the option to withdraw from the menu.
  • Forex traders can select the trading account from where they wish to withdraw, the preferred withdrawal method, amount to withdraw, and currency.
  • Forex traders can follow the prompts as per the method of withdrawal and submit the request to the FreshForex team for processing.

How many days do deposits take with FreshForex?

This will depend on the method of deposit that forex traders choose with FreshForex. Card payments, as well as electronic payments, can be instant while bank transfers can take a few days.

What are the costs and fees with FreshForex?

There are four types of costs with FreshForex commissions, swap fees, spreads, and margin requirements.

Commissions are charged either per lot, per side, per round turn, or according to a specific trading volume. Swap fees are charged when forex traders hold positions open for longer after the trading day has concluded.

The spread is the difference between the bid and asks price which is expressed in pips. Margin requirements are expressed as a percentage that forex traders must pay as collateral for the trade.

What are the Trading Fees with FreshForex?

The Forex Trading Fees with FreshForex are below. 

The FreshForex ProCent Account:

  1. Spreads: Fixed from 2 pips.
  2. Commissions: None.
  3. Margin: 100%
  4. Swap fee: Market swaps.

The FreshForex Classic Account:

  1. Spreads: Fixed from 2 pips.
  2. Commissions: None
  3. Margin: 50%
  4. Swap fee: Long swap of -0.78 pips and short swap of -0.12 pips on EUR/USD.

The FreshForex Market Pro Account:

  1. Spreads: Floating from 0.9 pips.
  2. Commissions: None
  3. Margin: 50%
  4. Swap fee: Long swap of -7.76 pips and short swap of -1.19 pips on EUR/USD.

The FreshForex ECN Account:

  1. Spreads: Floating from 0.0 pips.
  2. Commissions: 0.03% per contract.
  3. Margin: 50%
  4. Swap fee: Long swap of -7.76 pips and short swap of -1.19 pips on EUR/USD.

What is the minimum deposit in FreshForex?

According to the official website, the minimum recommended deposit is $20 on the FreshForex ProCent Account. 

What are the contract specifications in FreshForex?

Feature FreshForex
Forex Trading Yes
CFDs 90
Forex Pairs 49
Cryptocurrency (Physical) 0
Cryptocurrency (CFD) 5
Social Trading  No

Does FreshForex have promotional offers?

Yes, FreshForex Trade and Exchange platform has promotional offers for existing as well as new forex trading account holders. These promotional offers are as follows:

  1. 5% to deposit via ADVCash.
  2. 120 per year on margin
  3. 300% Deposit Bonus
  4. 101% Drawdown bonus
  5. Stop-out insurance
  6. Deposit without commission
  7. Cashback
  8. VIP Account “Goldman”.

Does FreshForex have a welcome bonus?

No, FreshForex does not have a welcome bonus.

According to the official FreshForex website, FreshForex does not offer a welcome bonus to new forex traders who register a live account for the first time.

Does FreshForex have a deposit bonus?

Yes, FreshForex offers a deposit bonus.

According to the official FreshForex website, there is a 105% ADVCash and 300% deposit bonus that forex traders can qualify for. The 105% ADVCash bonus requires that forex traders register a wallet in the ADVCash payment system through which to fund their account, allowing forex traders to qualify for the bonus.

The 300% deposit bonus that FreshForex has, offers forex traders with trading credit back on their minimum deposit of $100 and more, each time they deposit funds in a limited time.

Is there a commission-free trade bonus in FreshForex?

No, FreshForex does not offer forex traders a commission-free trade bonus.  

Is there a VIP bonus in FreshForex?

Yes, FreshForex offers a VIP bonus. forex traders who join the “Goldman” premium club and who trade using superior terms are offered exclusive promotions and bonuses.

Can you start trading with no money at FreshForex?

No, you cannot start trading with no money at FreshForex. To start trading, forex traders must make a minimum deposit of $20 on the FreshForex ProCent Account.

How does leverage work with FreshForex?

Leverage is a useful trading tool that is offered by brokers, allowing forex traders to open larger positions despite their initial deposit on a trade.

Where are the headquarters of FreshForex?

FreshForex is headquartered in Beachmont, Saint Vincent, and the Grenadines.

Who is FreshForex’s CEO?

There is no official source that discloses this information. According to an official FreshForex support agent, this information cannot be disclosed to anyone outside of the organization.

What are the social media accounts of FreshForex?

Forex traders can follow FreshForex on the following social media accounts:

  • Facebook
  • Twitter
  • LinkedIn
  • YouTube

How many employees do work for FreshForex?

There is no official source that discloses the exact number of employees for FreshForex. However, due to the operational size and reach of the broker across the globe, it can be established that there are more than 10 employees that work for FreshForex.

What are the opinions about FreshForex?

According to reliable sources, FreshForex is a provider of CFD and forex instruments that have been in operation for more than a decade, however, the overall opinion of the broker is that due to its unregulated nature, it is not a legit or safe broker. There are many regulated, safe options available for forex traders to facilitate trades.

What are FreshForex’s Contests?

FreshForex offers a Trade non-stop contest according to the official website.

When forex traders trade daily with FreshForex, they stand a chance to receive daily funds that can either be withdrawn or reinvested back into trading activities. There are gradual reward increases depending on the trading activity and volume of the trader.

Any trader can join the FreshForex contest and there is no time limit on how long it is available. All it requires is that forex traders deposit any amount into their trading account, and they will automatically be entered into the contest.

Does FreshForex have online support?

Yes, FreshForex offers forex traders with online support through its live chat option. Live chat is available to forex traders 24 hours a day, 5 days a week. Support agents are prompt, friendly, and helpful in tending to questions.

Does FreshForex offer demo accounts for Forex trading?

Yes, FreshForex offers a free demo account for all new forex traders. The demo account can be opened with the following steps:

  1. Forex traders can visit the official FreshForex website and hover over the “Trading Conditions” section on the main tab.
  2. Forex traders can select “Demo Account” from the options and register with FreshForex. 
  3. Forex traders can provide some basic information, confirm their mobile number, and email address, and access their Client Area where they can open a demo account.

Does FreshForex have a mobile app for Forex trading?

No, FreshForex does not have a mobile app for forex trading.

According to the official FreshForex website, mobile trading is offered through the MetaTrader 4 and MetaTrader 5 trading platforms. These platforms offer mobile trading in conjunction with a FreshForex Account, providing forex traders with access to the full suite of functions and features that these popular, reliable trading platforms offer.

Does FreshForex publish an economic calendar?

FreshForex publishes an economic calendar that can be used to stay updated with upcoming announcements and releases.

Forex economic calendars help forex traders stay updated with the latest in financial news. This allows forex traders to prepare themselves for any sharp turns in the market. 

With the FreshForex economic calendar, forex traders can easily filter events according to their importance, region, and time interval of releases.

Forex traders can set preferences for their FreshForex economic calendar which can be saved and will be available when forex traders log in again. forex traders can also use the economic calendar to access past and previous releases to conduct in-depth, comprehensive fundamental analysis.

What is the communication information of FreshForex?

FreshForex has one main telephone number and one main business address.

FreshForex can be contacted telephonically on +44 207 099 2124.

FreshForex’s main business address is Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent, and the Grenadines.