FreshForex, founded in 2004, is one of the leaders on the Forex market in Russia. Its head office is in St. Vincent and the Grenadines. The company provides access to Forex and CFD markets.
It is licensed as Riston Capital Limited and regulated under the financial regulators CRFIN and KROUFR.
FreshForex offers three trading accounts. The Classic account is the best account for those starting out in Forex trading. It offers more than 130 tools, leverage up to 1:1000 and the minimum order is 0.01 lots.
The Classic account uses fixed spreads for currency instruments.
The Market Pro account is a type of account suits active traders and scalpers perfectly.
It uses floating spreads from 0.9, precise quoting of 5/3 digits and execution from 0,1 sec. Stop Loss and Take Profit orders can be set only after opening position. On both Classic and Market Pro accounts orders are executed under the Market Execution mode
Traders opening the ECN account receive professional trading on the advanced level as well as an inside trading spread, high liquidity and prompt switches to interbank when needed.
A Swap Free account can be set up for any of the accounts. It is the best account setup for both traders working on long-term strategies and Muslim traders practicing Shariah law. This account is available on Classic, Market Pro and ECN accounts with a fixed commission from $5 per lot.
There is no minimum deposits stipulated for any of these accounts but the broker does recommend certain amounts and these are listed on the site.
A demo account is available at FreshForex for newbie traders just starting out in Forex trading and can be set up with any of the three accounts.
FreshForex Trading Platform
The Russian Forex giant uses the high-quality MetaTrader 4 platform. MT4. Available at most broker companies, the inventors using this platform will find all required options and capabilities. With millions of users worldwide, the MetaTrader 4 is no doubt the best choice for the majority of users. With a user-friendly interface and an easy navigation it is suited not only for beginners but professionals as well. The Expert Advisor or Forex robot option is also available. This represents an automated system that will make decisions instead of you, based on processing statistical data and mathematical indicators.
Software and Apps
There is no a web-based platform available, since FreshForex relies on the downloadable independent MetaTrader 4 solution. Nevertheless, there is a FreshForex mobile app ready for your smartphone (Android, iPhone, etc.) that enables you instant access to your investments anywhere, any time.
Leverage, Spreads and Commissions
This FreshForex review aims to give you a full picture, so let’s spend a moment talking about investments as well. The broker offers fixed and variable spreads. As a beginner, you should certainly start off with fixed spreads, whereby the risk of loss is significantly lower than with variable spreads. Leverages vary from 1:100 to 1:500. The ForexFresh does not charge any commissions; in fact, it even covers your fees charged by the bank on your deposit. You are also not charged any commission in the event of withdrawal.
FreshForex Banking and Support
You can join the FreshForex any time you want. There is no minimum deposit specified, but it is speculated that $200 is the recommended amount to get you started. As far as withdrawals are concerned, the average time for processing a withdrawal request is just 10 minutes. The Russians seem to be very fast and take the matter of money transfers very seriously.
- No minimum deposit required
- $200 is recommended amount to get you started
- Simple deposits and fast withdrawals
In the event there is anything you are unclear about, especially regarding deposits or withdrawals, you can always turn to FreshForex customer support. They are available around the clock via email, live chat, and you can even make a phone call to their head office.