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.
The FreshForex website is user-friendly and easy to navigate. The pictures are colorful and attractive. However, when doing this review, I clicked on several tabs and was surprised to see the pages in Russian.
An interesting feature is that the FreshForex company indemnifies up to 100% of deposit commission to its clients on payments made through the most popular payment systems. For example, if a trader pays $1000 and a commission of $25 is taken off, FreshForex will refund the $25 so the trader still has a payment of $1000 to use for trading.
Smart Bridge Technology is another feature offered by FreshForex. The Smart Bridge Technology (SBT) system is a flexible and reliable mechanism used to hedge Forex trading risks, which allows the broker to work directly with several liquidity providers. The system monitors several channels of Forex quotes in a real-time mode, selects the best offer in the split seconds and ensures instant execution of an order at the best available market price.
Bonuses and Promotions
There were several bonuses and promotions offered at the time of this review.
Anyone with a Classic account can link the account to the “Fresh Rebate 50%” promotion to get the highest Forex rebate on spreads: $5 per lot on profitable trades either $10 per lot on loss-making trades.
Before June 1, 2016 traders can take part in the “36% per annum” promotion and receive the most profitable interest rate on free funds. All they need to do is trade as usual, earn with various instruments and FreshForex will work to increase the deposit month by month up to 36%. Classic and Market Pro accounts that are not linked to the “Fresh Rebate 50%” promotion are eligible for the promotion. There is no limit on the number of participating accounts.
Traders can also join the “Double deposit” promotion and receive a bonus of 101% for every deposit amount from $100.Trading with maximum leverage 1:1000 can end up with a profit of an extra 33% for every future deposit.
The most exciting promotion at the time of this writing was an opportunity to win a BMW X6M. Only $100 is needed to participate and there are 10 prizes given at the end of each stage of the contest. In total there are 75 prizes awarded and the top 5 winners at each stage win the prizes.
This contest expires during the first week in May.
FreshForex offers a host of educational material including webinars and a series of guides and lessonsThere are several interactive instructional sessions and a list of books is provided that can help traders create their own trading system and learn more about methods of market analysis.
Daily Forex forecasts by top experts are posted and the Fresh Forex Forecast service analyzes the latest data on price action on the daily basis which are followed by more than 10,000 traders. Daily fundamental review represents up-to-date information on major currency pairs and regular reports based on trend potential review allow you to plan your trading for the coming week.
Deposits and Withdrawals
There are more than 20 methods of deposit and withdrawal and no fees for deposit are charged by the broker. Funding is credited to the account instantly and withdrawal applications are completed within 10 minutes.
Separate charts are provided for all the methods of deposits as well as the ways to withdraw funds.
The main headquarters for FreshForex is in St. Vincent and the Grenadines and traders wishing to contact a representative can call the numbers listed on the site. Email communication is also available as well as Chat during trading hours. An online request for information form is also provided.
FreshForex has been in the industry for over ten years and has been providing its members with a host of interesting features including a choice of different platforms and several trading accounts. When doing this review, I felt that certain information was missing or not clear.