FreshForex-Overview of Minimum Deposit, Spreads & Leverage

BASIC INFORMATION

FreshForex, operated by Riston Capital Ltd, is an offshore brokerage established in 2004 and registered in Saint Vincent and the Grenadines. The broker provides over 130 financial instruments to clients from over 200 countries worldwide, as well as a range of educational tools for both beginners and experts.

REGULATORY INFROMATION

No valid regulatory information

Please be aware of the risk!

MARKETS

FreshForex offers six main asset classes:

· Currencies – Trade on over 40 currency pairs including the EUR/USD, GBP/USD and GBP/EUR

· Cryptocurrencies – Access 5 of the most popular cryptos, including Bitcoin and Litecoin

· Stocks – Trade 60 CFDs on corporate stocks, including Microsoft and Ford

· Indices – 11 global indices are available including the FTSE 100 and NASDAQ

· Precious metals – Trade gold and silver CFDs on spot markets

· Energies – Trade on oil and gas

SPREADS & COMMISSIONS

Spreads at FreshForex are fixed with the Classic account at 2 pips for the EUR/USD and 3 pips for the GBP/USD. Spreads are floating with the Market Pro account, starting at 1.3 pips for the EUR/USD. These are by no means the tightest spreads out there. Minimum spreads at regulated brokers such as XM start from 0.1 pips, for example.

Commission is charged with the ECN account, starting from 0.0030% for forex. Other charges include overnight swap fees which are tripled from Wednesday to Thursday. Overall, FreshForex is a relatively expensive broker to trade with.

LEVERAGE

The maximum leverage accessible with the Classic account is high at 1:2000. The Market Pro and ECN accounts cap leverage at 1:1000, but even this is higher than most. These leverage rates should be approached with caution as they can seriously increase losses as well as returns.

ACCOUNT TYPES

Accounts at FreshForex are rather confusing. The website presents several account types – Real, Partner, Pro Cent, etc. Information is provided on three accounts within the contract specifications page: Classic account, Market Pro account, and ECN account.

There is no minimum deposit requirement, though they recommend $200 for Classic, $400 for Market Pro, and $2,000 for ECN. Base currencies are USD, RUB, EUR, and BTC. All assets are available in all three accounts, as well as the MT4 and MT5 trading platforms. Spreads are fixed with the Classic and floating in the other two accounts and all require a minimum order size of 0.01 lots.

Islamic swap-free accounts are also available at request.

PAYMENT METHODS

Deposits

FreshForex offers over 20 fast and free funding methods, including credit/debit cards, e-wallets, cryptocurrencies, Malaysian bank wire, and local deposits in Africa. Deposit requests need to be made within the personal client area, by completing the online payment form. The minimum deposit amounts for cards are 10 USD/EUR. Minimum deposits with other payment methods vary.

Note, PayPal is not available.

Withdrawals

Most of the same methods are available, including cards, e-wallets, cryptos, and Malaysian bank wire. Fees are charged for withdrawals, which range from 0.5% for FasaPay and Perfect Money, to 2.5% for cards. The only free e-wallet method is OnlineNaira, though the withdrawal currency is Nigerian Naira.

Withdrawal times for cards and Malaysian banks are 1 – 5 business days and e-wallet applications are processed within 10 minutes. Minimum and maximum withdrawal amounts vary depending on the method and can be found on the website.

TRADING PLATFORMS

· MetaTrader WebTrader

· MetaTrader 4

· MetaTrader5

ACCEPTED COUNTRIES

FreshForex accepts traders from Australia, Thailand, Canada, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders cannot use FreshForex from United States, United Kingdom, Spain, Japan, Korea

TRADING HOURS

Trading times for forex are Monday to Friday from 00:05 am to 24:00 midnight EET (UTC+2, UTC+3 during the summer). Precious metals hours are Monday to Friday from 01:00 to 24:00 EET. Most cryptocurrencies are available 24/7. Specific timings on stocks and indices vary.

CUSTOMER SUPPORT

You can contact support via:

· Email – info@freshforex.com

· Telephone number – +442070992124

· Live chat – accessible from the top of the page

· FreshForex is headquartered at St. Vincent and the Grenadines, Kingstown, Beachmont, P.O. Box 1510, Suite 305 Griffith Corporate Centre.