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Trade Forex Broker Review: Exploring FreshForex
Introduction:
FreshForex, established in 2004, is a brokerage firm that offers a wide range of trading services. In this comprehensive review, we will delve into the various aspects of FreshForex, including account types, trading instruments, educational resources, and more. We will also discuss the credibility of this broker, considering its regulatory status.
Services Offered by FreshForex:
FreshForex provides a variety of services to cater to the needs of both beginners and experienced traders. These services include:
- Forex and CFD Trading: FreshForex allows clients to trade Forex and Contracts for Difference (CFDs) on various assets such as stocks, indices, metals, and energy commodities.
- Daily Analysis: The broker offers daily analysis through Think unique and Fresh-Forecast, helping traders make informed decisions.
- Payment of Fees: FreshForex offers fee payment options for deposit accounts, making it convenient for traders.
- Trading Conditions: The broker boasts excellent trading conditions, including competitive spreads, leverage options, and fast order execution.
- Fast Withdrawals: Quick withdrawal processing ensures that traders can access their funds promptly.
- VPS Server: FreshForex provides a Virtual Private Server (VPS) service starting from $10 per month, which can be beneficial for traders using automated strategies.
- Free Forex Education: The broker offers free educational resources, making it suitable for both beginners and those looking to enhance their trading skills.
- Round-the-Clock Technical Support: FreshForex provides 24/7 technical support to assist traders with any inquiries or issues they may encounter.
- Affiliate Program: The broker features a unique affiliate program, allowing traders to earn additional income by referring others.
Credibility and Regulation:
It’s important to note that FreshForex is regulated solely by KROUFR, a non-governmental regulator. This regulatory status may affect the credibility of the broker. Traders should carefully consider this factor when choosing a broker, as governmental regulation often provides a higher level of security and investor protection.
Account Types at FreshForex:
FreshForex offers three distinct account types to accommodate various trading preferences:
- Classic Account: This account type is ideal for beginners. It provides access to over 130 trading instruments with 4-digit accuracy in quotations, leverage up to 1:1000, and fixed spreads starting from 2 pips.
- Market Pro Account: Designed for scalpers and active traders, this account offers 5-digit quotation accuracy, leverage up to 1:500, execution as fast as 0.1 seconds, and floating spreads from 0.9 pips. Take Profit and Stop Loss orders can be set only after a trade is opened on this account.
- ECN Trading Account: Geared towards professional traders, the ECN account offers trading within the spread, high liquidity, and rapid order execution in the interbank market. It offers leverage up to 1:500, almost zero spreads, and high execution speeds as low as 0.05 seconds. Additionally, it employs the “Smart Bridge Technology®” for hedge orders and charges a commission starting from $1.9 per lot.
Common Features for All Account Types:
- All account types have no deposit requirements.
- The option to open a “Swap-free” account without paying swap fees, instead incurring a fixed commission of $5 per lot.
- Scalping is allowed, and trading advisors are permitted.
GoldMan Premium Club:
Traders who maintain deposits of $5,000 or more become members of the exclusive “GoldMan” premium club. Membership includes several benefits, such as:
- Zero commission for deposits and withdrawals.
- Individual credit leverage.
- An annual interest rate of 36% on available funds.
- Quick profit withdrawal options.
- Account replenishment in advance.
- An airbag feature to mitigate Margin Calls.
Share Your Experience:
If you are already trading with FreshForex, consider leaving your comments and feedback, as they can be valuable to other traders in their decision-making process.
In conclusion, FreshForex offers a range of services and account types to suit various trading preferences. However, potential traders should carefully weigh the broker’s credibility and regulatory status against their trading needs and preferences before opening an account.
