Short review of Freshforex accounts: Looking for the best option
Broker Freshforex has been providing access to international financial markets to users with any experience and capital for more than 15 years. The trust of clients from 158 countries should be justified – the company maintains quality trading conditions and technical support, and does not bend to earn clients. Although some peculiarities of their trading accounts need to be taken into account. So…
Main trading conditions
The broker supports trading accounts in USD, EUR, RUB and BTC. Officially, the company doesn’t have the minimum deposit, but there are “recommended” amounts for a comfortable start of trading from $2000 on professional ECN accounts.
The company does not offer segregated accounts, mainly because of the ambiguous situation with the international regulation (for more details see section “Registration and Regulation”). Traditionally, we offer fixed and dynamic spreads, including floating spreads from 0 pips; Demo accounts are available to every client without any time or quantity limits. Under certain conditions, it is possible to open a no-swap (“Islamic”) account. Only trade-free service can be connected to the real account.
The high speed of processing of trading orders and the standard trading software (firm e-Metatrader 4 (5)), as well as the leverage in the range of 1:25-1:2000 and the minimum lot 0.01 can attract small deposits. The broker is active on social networks and even allows you to work with trade orders via Telegram. There are branded mobile applications for Android and iOS, and trading via a web terminal is also available.
Of course, in order to cooperate with real capital, clients must be verified, but this can be done just before the first withdrawal of money. At the first deposit without thorough verification. More details on the official website.
Types of trading accounts
There is no definite assortment: the broker offers three standard deposits, as well as central accounts under the special program (about it below) and separate accounts for depositing income under affiliate programs (this is more about promotions and bonuses). Let us review the comparative table:
Clients have three trading systems to choose from:
Classics: standard deposit with constant spreads from 2 pips, order execution – Instant Augervion. Works with four (three) significant quotes. Beginners who prefer thehanalysis and auto-trading usually start with it.
Market Pro: The main difference from the Classic version – market execution and dynamic spreads from 0.9 points. You can start with small amounts of money with a maximum leverage of 1: 1000.
ECN: The company advertises the complete absence of commission payments. However, this is not entirely true: the broker will have to pay a commission of 0.003% per full contract for the service of viewing trades in the electronic communication network. A commission is also charged for trading company’s shares (in CFD format). However, spreads can be really zero, execution of orders from 0.05 seconds, there is an option of trade-free accounts.
You cannot change the type of Freshforex trading account. If you plan to use credit (or part of it), you need to open a new deposit.
A reminder: you must read all information, especially that which is given in small print on the pages or in the documents of the site. Otherwise, there are no surprises in the form of incomprehensible and uncontrollable losses. Before you start trading with Freshforex Real Deposits and before you change your account type, make sure you carefully study the characteristics of the assets you want to trade – the conditions may vary significantly.
Before you open an account, read all of the brokers’ regulations, especially the “trading company regulations”. For information on the dependence of leverage on your trading account balance and what changes for individual account types, see the “Margin Requirements” section:
You should research the conditions under which a broker can interfere with your trading and then negotiate with you, such as B. Adjust spreads and quotes, cancel trade results, and even block access to active accounts.
Special program for cent accounts
Freshforex offers super-beneficial terms for small investments so you can fully operate with “expensive” assets.
You can work on Procent trading accounts thanks to 1: 1000 leverage with a cent deposit of $100,000. The leverage can be freely changed in the personal cabinet.
For a successful start every new customer can get a bonus of 100 US cents for a regular registration, which is available for both payment and retail trading. Cent accounts are used not only by newbies but also for testing trading strategies and consultants. We strongly recommend using branded VPS and Freshforex Easy Bot service.
Although Freshforex’s performance types are not diverse, customer reviews actively support a positive opinion of the broker. Trading conditions are quite loyal, the quality of services is high, so we choose the most appropriate trading scheme and earn.
Freshforex broker rating
Hello dear friends, we continue the series of brokers’ ratings and today we will pay attention to Freshforex company which offers “a new look at money”. The broker is not included in the list of top brokers, but it is still worth considering, it has many clients and the information will be useful for newbies when choosing. In addition, there are contradictory assessments about Freshforex, so an unbiased review is just necessary.
Registration and regulation of the company
If you are expecting any surprises at this stage, I hasten to disappoint you – registration at the broker is offshore. This cannot be considered a disadvantage, because even such giants as Alpari used such registration, take into account this fact.
The company represents Riston Capital LTD and is registered in Saint Vincent and the Grenadines. Brokerage activities do not require a separate license, which is what attracts offshore companies such as Freshforex.
The broker has been on the market since 2004, which means that it’s been on the market for more than 10 years. Can’t be called a beginner, but you can’t call it a classic car of someone who was one originally. Strong intermediary.
- Kroufr is a non-profit organization responsible for solving all problems between financial market participants (i.e. Russian participants). Forex is also part of Kroufr.
- The FRCFIN is already a more serious regulator
The documents confirming the registration and the list of supervisory authorities can be found directly on the broker’s website.
Open a brokerage account
Tools for the investor
In addition to the usual trading on the foreign exchange market and working with binary options, the broker offers several interesting ways to create funds. Let’s look at them in more detail.
Since 2015, the company has been offering the opportunity to act in CFDs, around the same time working on creating different types of investment portfolios. At the moment, Freshforex offers you the opportunity to invest in 3 portfolios:
- ITBIZ – includes securities of information technology companies. These include such giants as IBM, Apple, Nvidia, etc.
- WWWBIZ – includes companies related to Internet technology
- Rusbiz – the authors have paid attention to the largest Russian companies.
Freshforex does not limit the minimum deposit for working with stock portfolios, but draws attention to the fact that it is better to invest from $500. This is due to risk tolerance and maintaining an adequate load on the deposit during drawdown.
As far as can be understood, work with portfolios is conducted according to a simple “buy and hold” strategy. According to the results of the first three quarters of last year, the profit of the portfolio was 18.47% (for Russian companies) and reached an impressive 40.97% for ITBIZ. Freshforex broker offers good earning opportunities without much effort. Moreover, their composition can be revised based on the results of different portfolios, with more profitable stocks included.
Are there any pams?
But brokers don’t have parameters. In the past, there was a service that allowed you to invest in promising managers, but it was closed due to low activity and a small number of accounts. In general, it is better to use Pamms at brokers where the choice of accounts is large. You will usually find reliable managers there, so it will be easy for you to decide how to choose profitable Pamms accounts to invest in. If you plan to work on your own and invest in Pamm accounts, I would generally advise to pay attention to the broker amarkets – a great all-rounder.
Investing in new instruments
In addition to the basic and popular crosses, the broker allows you to trade metals, commodities and differential contracts. The official side even singles out this feature separately, although other brokers consider it quite common.
The company understands the new instruments, which appeared relatively recently:
- WTI oil, Brent.
- Precious metals, mainly silver and gold.
- Stock indices
- Various contracts.
That’s not to say that the company offers the best conditions, at least in some ways. In terms of trading conditions I would, for example, call exit the leader, but the work with pams is well organized at Alpari, FXopen. If you are interested in working with equities of American companies, choose Just2trade because of the minimum commissions.
Commercial terms, account types and terminals
The commercial terms and account types are often the deciding factor when choosing a broker. Freshforex does not stand out in this matter.
The company allows you to choose one of the following account types:
You can at least practice or try a new strategy
- Classic credit fighter is 1: 25-1: 1000, 4-digit offers, market order execution, 48 currency pairs and several dozens of CFDs, 2-point spreads are available.
- The maximum credit leakage is reduced to 1: 500, with 5-digit bids, market order execution (NDD). As for instruments, only stock CFDs are available, the spread is 0.9 pips. Free swap service is available for this account type.
- ECN accounts – the minimum commission for this type of account is 0.03%, at the same time CFD on stocks, the market version (ECN) is not available.
For all account types it is possible to open a deposit in dollars, euros or rubles. Another feature is that the size of the minimum deposit does not give any restrictions. There are only recommended sizes of minimum deposits. How to open an account, you can do either through personal cabinet or by clicking on “Open account” on the main page of the site. However, in doing so, you must register.
Open a brokerage account
The broker decided not to care about terminals. You can only act through MetaTraider4, its options are available for iOS, Android, PC. It is clear that this is the most popular terminal in the world today and most of the trades are made through it, but you still want some variety. It is not clear why there is no possibility to use MT5.
In addition to CFD, the Forex Broker market allows you to work with binary options. The main difference from the usual trading is that it is not necessary to set a stop-loss before the take-profit, and the profit is determined and does not depend on the price forgiveness. The dealer simply makes a prediction, buys an option and waits for the result. Freshform allows you to work with options of the following types:
- Above/Lower – Classic Bo, you simply take a bid above or below the current level.
- Touch – you select the level the price should touch before expiry
- Range – to make a profit, the price must remain at the time of expiration.
Profits can be as high as 86% and you can work with $10. Trading is done online through the Binar trading terminal.
The return of an unsuccessful trade is a small insurance in case your forecast turned out to be wrong. In this case, you need to determine the amount of the return as a percentage, with the potential profit you could have made on that trade decreasing slightly.
The unique Freshforex Easy Bot service is remarkable – theoretically, it can help you to act without bringing your terminal to the market. This is a kind of assistant that explains the analysis and looks for entry points. You only listen to the recommendations. The final decision at the end of the deal is up to you.
It works through a telegram. Its main purpose is to complete trades on the street if there is no way to run the full version of the trading terminal. In addition, the time is saved in the analytics.
In reality, the service hasn’t gained much popularity. In theory everything looks great, but in practice it does not work stably and profitably, and it is not clear which profit strategies are used on the chart.
But what can be useful is the possibility to rent a VPS server. In this case we can expect a slight disappointment – there are no free options. Other brokers have such offers depending on the account balance.
The cost of a yearly rental of a virtual service is from $10 per month for rentals up to $100.
Analytics and Training
Nowadays a rare broker can do without analytics and training sections. Freshforex is no exception.
- A list of recommended readings
- A brief glossary of key terms and concepts
- Several structured training courses
- Video tutorials available
- Regular webinars
A personal account manager service is available for deposits over $5,000. Same training in webinar format, but 1 to 1 with the instructor.
Analysis is given in the form of a questionnaire:
- “In the Heat of Pursuit” rubric – analysis of the impact of major world events on market behavior is given
- Analysis with wave analysis, Murray’s levels, basic analysis
- Latest forecast analytical reviews of the company’s specialists.
- This section contains economic calendar, list of global interest rates and other useful information.
Bonuses and advertising campaigns
Every broker tries to attract the maximum number of clients, different promotional campaigns and bonuses are a great way to increase their number. Fresh offers:
- Various contests, there is currently a big contest with a grand prize of a BMW X6 and many smaller awards
- Good rebate – up to $20 from each loss.
- The broker gets interest on the free funds in your account, just like a bank. Annual percentage can be as high as 48%.
- With every deposit you get a bonus, the amount of which depends on the deposit amount and can reach 101%. This bonus is only available for accounts that are not connected to megaribate
- There is a strange offer for authors of articles. If you manage to write an interesting and useful article, you will get $30 after publishing it. However, the money will be credited to your account, not transferred to you personally
In general, there are a lot of promotions. For example, the company offered an N O-Caution bonus from 2017 until January 22, 2017. So sometimes the offers look very lucrative.
Personal account registration, deposit/withdrawal Mittel
The registration process is not different from other companies. Required:
- Enter your current full name, address, and phone number.
- Verify your data by uploading a scan of a document.
- Then you can open an account and use other functions offered by the broker
Open a brokerage account
All popular methods of deposit/withdrawal are available:
- Payment systems. There is even a separate link on the main page for instant deposit from KiWi
- Bank wire transfer
- Bank card
- Freshforex card
- Mobile payments
Conclusion + personal opinion
The broker doesn’t give a feeling to beginners, those who are making their first steps in trading now. Various bonuses and promotions are critical for this category, but even in these little things there are more interesting companies, the same instformex. If you evaluate each aspect of the broker separately, it turns out that in each area you can find a better counterpart. The company does not have its own “feature” or anything else.
Therefore my recommendations are as follows:
- For Pammo V – Alpari and FXopen
- BCS – invest in structured products
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