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FreshForex Account Types

FreshForex Account Types

 

 

Overall Rating

4.7/5

Rated #233 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

📱 Trading Desk

Metatrader 4 

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FreshForex provides four different account types e.g., Classic/Standard Account, Market Pro Account, Mini Account, and ECN Account. Each account type has its own set of conditions for commission, margin call, and leverage, and minimum deposits.

Finding a reputable list about FreshForex account types local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth account types Review regarding this regulated Forex company, which will assist traders to make an informed decision when it comes to the various Forex trading accounts made available.

 

FreshForex Overview

FreshForex is a typical Forex broker that has been on the market for more than 10 years.

With more than a decade of rich experience, this platform has been considered to be equally suitable for both – beginners in the field and more advanced traders, who need more options and features to choose from and to enjoy.

FreshForex is owned by a reputable and well-known company that has been also part of the financial services world for many years – Real Capital. This is a typical big Russian company with significant influence on the Forex world in its country.

However, FreshForex is also very popular among the whole European Union and recently – the world – too, because it has succeeded to prove its finest reputation and reliability.

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.

The available assets at FreshForex include the following:

  • 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

 

There is no minimum deposit requirement, though they recommend $200 for Classic, $400 for Market Pro, and $2,000 for ECN.

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.

 

FreshForex 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. We will examine these three for the purposes of this review.

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 that 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.

 

FreshForex Account Features

 

Classic Account

  • More than 130 tools
    Leverage up to 1:2000
    0.01 of the lot – minimum order

 

Market Pro Account

  • Precise quoting: 5/3 digits
    Spread from 0.9
    Execution from 0.1 sec

 

ECN Account

  • Trading inside spread
    High liquidity
    Prompt switch to interbank

 

 

FreshForex Demo Account

FreshForex offers a demo account for users to practice their trading strategies before committing real money in a live account.

Traders can choose the number of virtual funds they wish to trade, however, reviews and forums do take issue with the fact the account is archived after 30 days of inactivity.

This account is an excellent tool for beginner traders to become acquainted with the FreshForex trading conditions and to see whether these suit their individual trading goals.

The only exception is that the demo account is risk-free as traders make use of virtual funds to conduct their trading. Due to this, traders cannot withdraw any profits which are made on the demo account.

 

Overall Rating

4.7/5

Rated #233 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

📱 Trading Desk

Metatrader 4 

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FreshForex Islamic Account

The purpose of an Islamic Account is that it caters specifically to Muslim traders who strictly follow Sharia law. The law prevents its followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitive.

Overnight fees are charged should traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should they hold positions open for longer.

FreshForex offers an Islamic Account to Muslim traders who follow Sharia law.

Opening a Swap Free or Islamic Account with FreshForex is an extremely simple process. All that traders need to do is open one of the available live trading accounts, and then convert this to an Islamic account by selecting the Swap Free option.

The Islamic Account will come with the same trading conditions as the original account which was converted. This applies to spread conditions as well.

As such, 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.

Traders who are interested in registering for an Islamic account must contact FreshForex’s customer support to verify the details of the account as conditions may have changed from the time of writing.

These changes are as per the broker’s discretion and/or changes in market conditions.

 

FreshForex Pros and Cons

✔️ PROS ❌ CONS
Competitive Commissions

No minimum deposit

Access to MetaTrader suite

No deposit fees

Excellent educational resources

Not the tightest spreads

 

You might also like: FreshForex Minimum Deposit

You might also like: FreshForex Demo Account

You might also like: FreshForex Fees and Spreads

You might also like: FreshForex Sign up Bonus

You might also like: FreshForex Islamic Account

 

 

FreshForex at a Glance

Broker’s Name FreshForex
Headquartered Kingstown, St. Vincent, and the Grenadines
Year Founded 2004
Regulating Authorities FSA
Countries not accepted for trade United Kingdom, United States, North Korea, Spain
Islamic Account (Swap Free) Yes
Demo Account Yes
Institutional Accounts No
Managed Accounts Yes
Maximum Leverage 1: 2000
Minimum Deposit None, however, FreshForex does have a recommended minimum deposit.
Deposit Options VISA, MasterCard, AdvCash, Bitcoin, Epay (epay.com), FasaPay, Local Bank Transfers, Maestro, Neteller, PerfectMoney, Qiwi, Skrill, WebMoney
Withdrawal Options VISA, MasterCard, AdvCash, Bitcoin, Epay (epay.com), FasaPay, Neteller, PerfectMoney, Qiwi, Skrill, WebMoney
Platform Types MT4, MT5
OS Compatibility Windows, Mobile, Web, iPhone, iPad

PC and Mac OS, mobile for Android and IOS

Tradable Assets Currencies: (50+)

Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum

CFD: (80+) Gold, Silver, Other Precious Metals, Stocks, Oil, Other Commodities.

Languages supported on Website Russian, English, German, Chinese, Arabic, Italian, and many more.
Customer Support Languages Russian, English, German, Chinese, Arabic, Italian, and many more.
Customer Service Hours Around the clock 24/5.

 

FAQ’s

 

Trading Environment

 

How many instruments can I trade with FreshForex?

You can trade the following financial instruments:

  • Currencies: (50+)
  • Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
  • CFD: (80+) Gold, Silver, Other Precious Metals, Stocks, Oil, Other Commodities

 

Which platforms are supported by FreshForex?

MetaTrader 4, MetaTrader 5, WebTrader

 

Does FreshForex offer leverage?

Yes. Leverage of up to 1:2000.

 

What spreads can I expect with FreshForex?

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.

 

Does FreshForex charge commission?

Yes. The 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.

It is unclear whether Islamic account holders are subjected to the same commission charges. Traders must verify this information with the broker as it is not stated on the website.

 

Are there additional charges on the Islamic account?

Not that can be seen from FreshForex’s website.

 

Is FreshForex regulated?

Yes. FreshForex is regulated by the FSA

 

Is FreshForex a recommended forex trading broker for experts and beginners?

Yes. FreshForex caters to both beginners and experts.

 

What is the overall rating out of 10 for FreshForex?

7/10.

 

Accounts

 

What is the difference between a demo and a live trading account?

A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring both the broker’s offer and the trading platform.

A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.

 

Does FreshForex offer a demo account?

Yes.

 

For how long is the demo account valid?

30-days.

 

Does FreshForex offer the option of an Islamic Account?

Yes. FreshForex offers an Islamic Account.

 

Which live trading accounts does FreshForex offer?

  • Demo account
  • Islamic Account
  • Classic/Standard account
  • Market Pro
  • Mini account
  • ECN account

 

What are the available deposit currencies for a live trading account?

  • EUR
  • USD
  • GBP
  • CHF
  • CNY
  • RUB
  • IDR
  • UAH
  • KZT
  • NGN
  • BTC
  • MYR

 

Deposits and Withdrawals

 

What is the minimum deposit for FreshForex?

There is no minimum deposit

 

How do I make a deposit and withdrawal with FreshForex?

  • Visa
  • Webmoney
  • Skrill
  • Neteller
  • ePayService
  • QIWI Wallet
  • FasaPay
  • ADVCash
  • Perfect Money
  • Bitcoin
  • Mercuryo
  • Bank of Malaysia

 

Does FreshForex charge withdrawal fees?

Yes, these vary depending on the withdrawal method

 

How long does it take to make a withdrawal?

E-payments take 10 minutes, whereas bank transfers can take 1-5 working days

 

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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