Forex, which started at Wall Street as an evolutionary and ever-growing market, established itself all over the world, spreading from the West to the East. It is no surprise that many companies rushed to enter the lucrative business, offering their services to people who would like to become part of the currency dealing world. Russia, as one of the biggest and more influential world’s countries, does not lag behind great Western powers in the Forex business. One of the Russian broker companies that certainly stands out is the FreshForex broker.
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FreshForex Background and Regulation
FreshForex comes straight out of Russia and is available to domestic and international customers alike. It was established in 2004, and with more than ten years of experience they’ve become the market leader in Russia. FreshForex is regulated by the Center for Regulation with the OTC Financial Instruments and Technologies (CRFIN), the ultimate authority on Forex trading in Russia. They take care that the market stays secure and transparent. The regulatory organization keeps a blacklist of fraudulent broker companies which is available to the public. They ensure the market runs smoothly with no malpractice and manipulation.
- FreshForex is Russian Forex broker
- Regulated by the Center for Regulation with the CRFIN
- Their services are available around the globe, with the exception of USA customers
FreshForex is one of the widely known broker-dealers in Russia and they offer their services to European citizens as well. Customers from the USA are excluded. This is one of the safest dealers in the Russian Federation and offers similar services as many decent Western Europe brokers. Besides Forex, the platform also deals in metals, indices, stocks, commodities and CFDs.
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.
Pick Your FreshForex Account Type
There are two types of accounts on offer: Classic and the Market Pro account. Before you open a real trader account, a demo account is offered (as with every other Forex broker worth their salt).The demo account is intended for beginners to get practice for the real Forex game. With this account, they can explore the market and gather information at no cost. Once you are ready to invest your real money, you can opt for a real account, partner account, ECN account or swap-free, i.e. Islamic account.
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.
Payment Methods and Bonuses with FreshForex
The payment methods accepted by FreshForex are credit or debit card (Visa, Mastercard, etc.), Bank Transfer, Skrill, PayPal, Webmoney, and Yandex. Although there is no profit bonus, there are numerous other promos and FreshForex bonus offers available. There is a tradable bonus of 101% on your deposit, refer a friend bonus, and more. It is important to note that all bonuses offered by the broker cannot be cashed in. They can be used for trading purposes only. If you make a profit using the bonus money and meet the trading requirements, you can withdraw it with no complications and FreshForex will not try to scam you out of your fairly earned profits.