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FreshForex review and ratings

Established 2004
Location Saint Vincent and the Grenadines
Regulation None
Offices Kingstown
Broker type STP | ECN
Leverage up to 1:2000
Deposit from 20 USD
Spreads mid  mid
Platforms MetaTrader 4 MetaTrader 5
Instruments Currencies Crypto Indices Metals Energies Stocks
Funding methods Credit Cards Skrill Neteller FasaPay WebMoney Yandex Money Qiwi AdvCash Bitcoin

Company information

FreshForex is a legally registered forex broker located in Saint Vincent and the Grenadines, but not regulated by any government agency.

Availability

FreshForex accepts clients from all over the world, excluding USA, UK, Iraq, North Korea and some other countries where restrictions apply.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

50+ Currency Pairs Based on major and minor world currencies.
6 Crypto Pairs Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Leviarcoin, Ripple.
11 Indice CFDs Based on baskets of different blue-chip stocks.
5 Metal Spot CFDs Based on Gold and Silver.
3 Energy Futures Based on Crude Oil (WTI, Brent) and Natural Gas.
70+ Stock CFDs Based on shares of US and RU companies.

Comprehensive review

FreshForex is a forex broker operating out of Saint Vincent and the Grenadines under the official company name Riston Capital Ltd. However, it is worth noting that the broker is not regulated by any government regulator, but is instead merely registered as a legal business entity.

As an unregulated forex broker, FreshForex is free to offer pretty much whatever trading conditions it sees fit for its clients. This also means that it does not need to follow any regulations regarding trading leverage. As a result, FreshForex offers some of the highest leverage of any brokers, with up to 1:2,000 in leverage on the most liquid instruments.

Although it is officially headquartered in Saint Vincent and the Grenadines, FreshForex has a heavy presence in Russia. This is clear by the fact that order placement over the phone is available to Russian clients only. However, regular customer support is still available in English 24 hours a day on all trading days via both phone and online live chat.

The trading instruments offered by FreshForex includes a pretty wide selection of major and minor forex pairs, a handful of major stock indices, a large selection of stocks of US and Russian companies, precious metals, as well as oil and natural gas. In addition, FreshForex offers CFDs based on the cryptocurrencies Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Leviarcoin, and Ripple XRP.

Traders who sign up with FreshForex gets the chance to choose between three account types; Classic, Market Pro, or ECN.

Among these account types, the Classic and Market Pro accounts resembles typical STP (straight through processing) accounts where traders don’t need to pay commissions, but instead gets offered a wider spread on all trading instruments.

The ECN (electronic communications network) account, however, is different in the way that it charges commissions on all trades, but instruments are offered with much tighter spreads. Most professional traders and others with larger trading accounts will therefore get a better deal with the ECN account, while traders with only a small amount of capital may get a better deal with the two STP-type of accounts.

Fortunately for users from around the world, trading accounts with FreshForex can be denominated in either US dollars, euro, Russian ruble, or something called MBT on the platform, which is short for “millibitcoin,” meaning 1/1,000 of a bitcoin.

Overall, the spreads offered on most trading instruments by FreshForex are at the mid-level compared to its competitors. This is, in other words, not the cheapest broker around, but considering its very high leverage the overall deal is still not too bad.

FreshForex has chosen the traditional path when it comes to trading platforms, offering their clients the choice between the MetaTrader 4 and 5 (MT4/MT5). However, these two platforms are still two of the most popular trading platforms in the world, and a huge number of traders are familiar with them.

Further, MT4 and MT5 both also gives access to a large library of automated trading algorithms and custom technical indicators. Combined, this means that the possibilities are almost endless when trading with either of these platforms.

For traders who would like to open a trading account, deposits can be made in Russian rubles, US dollars, euros, Ukrainian hryvnia, Belorussian rubles and Chinese yuan, in addition to Bitcoin. The broker accepts all of the common funding methods, such as bank transfer, credit & debit cards, as well as a large range of popular e-wallets.

All in all, it is clear that FreshForex is a pretty popular forex broker in Russia in particular. One reason for this probably has to do with the extremely high trading leverage that is available from this broker, which means that even traders with tiny amounts of capital can make big profits on a good trade. However, we still wish the broker would have been regulated by a credible government agency to give potential clients some peace of mind, and hope that this will happen in the future.

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