Is fresh forex regulated

Overall, we generally advise not to trade with the offshore brokers since it is incurred to be a risky business, and increases the potential of general trading experience.

Actual forex bonuses

FreshForex Review, is fresh forex regulated.

No, freshforex is not legit to trade with it.

Freshforex review

Freshforex

Reason to avoid: no license

Listed date: september 17, 2018

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Freshforex review present by 55brokers and other brokers reviews, before signing an account you should always check on broker reliability and compare its trading offering.

Company name: riston capital limited. Freshforex

Registration address/ license:st. Vincent and the grenadines. No license.

Registration requirement: 2,000$

About freshforex

��️ registered in	st. Vincent and the grenadines
��️ type of license	offshore license
��️ is freshforex safe to trade	no
��️ recommended licenses	FCA in UK �� & ASIC in australia ��
�� alternative broker	FP markets - licensed by ASIC in australia

Is freshforex a scam or legit broker?

No, freshforex is not legit to trade with it.

The online forex broker freshforex as stated on the official website has been working in the foreign exchange market since 2004, while claims performance with one of the best trading conditions on the market due to which they are among top forex broker companies as well according to the research of the famous news agency interfax.

Among that the broker gained some more world recognition from the publications and industry expos, however, the freshforex which is a trading name of the riston capital limited company incorporated in an offshore hub st.

Vincent and the grenadines. There is no matter of the company location, but there is a sufficient risk if the company delivers services without any regulation or licenses from the world known watchdogs in the forex industry.

That means that the company may put their client into unnecessary risks while trading which will involve higher leverage level, alike 1:2000 as offered by the freshforex, non-regulated money management of the clients, as well as lack of operational standardization.

Since this is not the case of the freshforex the company do not comply with the adequacy requirements and follow of rules, thus clients do not rest assured about the safety of the financial services they receive.

Meanwhile, the broker mainly concentrated on the offering among russian and asian residents, while also there are a significant amount of negative reviews about the company crossing around the internet.

Overall, we generally advise not to trade with the offshore brokers since it is incurred to be a risky business, and increases the potential of general trading experience.

It is much more sufficient to choose among well established and regulated, reputable companies that are heavily overseen by the respected authorities. The list of FCA, ASIC such as broker FP markets from australia.

Is fresh forex regulated

Freshforex is among the top binary brokers in russia. The company was registered back in 2004 and is headquartered in st. Vincent. The company offers forex and CFD products. Following, we are going to review this broker and see whether the complaints against it are justified or not. So, stay with us!

Suspends account

A broker holds the right to suspend an account. But it must show cause. It can’t do anything without showing proper notice to the trader. However, some brokers suspend trader accounts without explaining.

Freshforex is among these traders. There are many complaints in the forex community against this broker that it suspended various user accounts without explaining. When an account is suspended, the broker usually keeps the balance. Yes, it doesn’t pay the original owner anything at all.

It keeps the current balance without justifying their action to the trader, the original owner. It is critical and confirms our suspicions that freshforex is a fraud.

No background

Freshforex doesn’t care to provide its users with any details about its parent company or work history. There is no information about the company, its inception, establishment, team, board, etc. Even though there is a dedicated about us section on the website, you won’t find anything useful.

The about us section is dedicated to the mission statement and various promises freshforex makes to traders. It’s a cliché because almost every forex scam doesn’t mention anything important on their about us. It keeps everything under wraps, so no one can trace the broker once the site is closed.

Slippage

Slippage is a trick used by brokers which prevents you from profiting. Slipping is changing the price once you take or close a position. Yes, when you proceed to buy and seal the deal, the price suddenly changes to something higher, and you forcefully enter a higher price than what you saw on charts.

It is a popular way of manipulating the market to milk profits out of the trader. Unfortunately, this is a widespread practice today, and brokers like freshforex openly use it to their benefit. There is no way to avoid these scams. The best thing you can do in such cases is changing your broker.

Price manipulation

Freshforex is guilty of price manipulation. This broker has manipulated its market ever since its inception.

There are proper benchmarks against which a broker sets its prices. This benchmark helps to regulate the real-time market prices. Every regulated broker must follow this benchmark. Unfortunately, most brokers in the forex marketplace are not regulated.

Even worse, most traders don’t search for a regulated broker before signing up. Unregulated brokers don’t follow these benchmarks and set their prices. These prices are skewed against the trader.

Conclusion

Freshforex has been in the marketplace for many years. It offers several attractive features, but we can’t recommend it to our readers because of its ultimately a fraud. Yes, these features won’t do you any good because you will lose your money anyway.

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Freshforex review and ratings

Availability

Freshforex accepts clients from all over the world, excluding USA, UK, iraq, north korea and some other countries where restrictions apply.

Distinctive features

Simple registration and verification process.

Own marketplace of trading robots (expert advisors).

1:100 leverage offered for cryptocurrency trading.

Various forex analytics materials.

Bitcoin funding accepted.

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.

Regulation in forex markets-why and how?

The foreign exchange (FX) market is the largest, most liquid market in the world – with around US $5.3 billion traded daily. Day trading is quite common among currency traders but most investors depend on setting up trading accounts and executing their trades via forex brokers.

There are hundreds of forex brokers and new ones are constantly opening their doors to the public. This makes it difficult for traders to choose the best brokerage and leaves them at the mercy of the broker when it comes to honesty and transparency. Despite its huge size, regulation in the forex market is scarce and there is no single global body to police it 24/7.

There are no accurate statistics, but the number of forex and binary options brokers that work under a regulatory authority is minimal (5 percent is usually cited) and that leaves many firms able to take advantage of their clients and to engage in abusive behavior without any consequences.

Non-regulation risk

For retail FX traders, the biggest downside to the lack of forex regulation for most brokers is that of illegal activity or outright fraud as well as runaway losses in a market increasingly dominated by speculative activity and large institutions.

Following a spate of currency-related swindles during the period between 2001 and 2008, the CFTC created a special task force to deal with the problem and stiff forex regulations were introduced several years later to protect retail FX traders.

Under the commodity exchange act (CEA), the CFTC assumed jurisdiction over leveraged forex transactions offered to retail clients in the united states. The act permits only regulated entities to act as counterparties for forex transactions with retail customers in the states and it requires that all online forex dealers be registered and meet the strict financial standards enforced by the national futures association (NFA).

On the institutional level, banks, which are responsible for 95 percent of daily FX trading, are heavily regulated. The U.S. Federal reserve and the U.S. Treasury department are highly attentive to regulation in the forex industry and monitor brokers carefully for evidence of manipulation.

Forex regulation-why?

Why is regulation in forex so important? The objective of regulation is to ensure fair and ethical business behavior. Under current regulatory contracts, all foreign exchange brokers, investment banks and signal sellers are required to operate in strict compliance with the rules and standards laid down by the forex regulators or their activities can be deemed unlawful. These bodies must be registered and licensed in the country where their operations are based, which ensures quality control standards are met. They are brokerage houses are subject to periodic audits, reviews and evaluations which force them to maintain the industry standards. In addition, regulated forex brokers must keep a sufficient amount of funds to be able to execute and complete foreign exchange contracts concluded by their clients and also to return clients’ funds intact in case of bankruptcy.

Should a regulatory agency find a broker infringing on its guidelines, it can use a wide range of enforcement powers – criminal, civil and regulatory – to protect consumers and to take action against firms or individuals that do not meet acceptable standards.

It can publish notices that are important to ensure the transparency of decision made by the authority and inform the public thereby maximizing the deterrent effect of enforcement action.

Some regulators issue alerts about financial services firms and individuals, based both overseas and in their local areas.

Of course, there can be no assurances that any action taken by a regulatory agency such as the FCA in the UK will result in a payment or return of funds or securities even where formal disciplinary actions are taken and sanctions imposed.

Many of the actions taken by regulatory agencies against the brokers covered under their authorities can also be applied to non-regulated brokers that find themselves in similar situations by police and other enforcement agencies but their mandate is limited and is less likely to be imposed leaving investors with reduced recourse in the event fraudulent behavior.

Forex regulators operate within their own jurisdictions but often work together in pursuit of duplicitous activities. In fact, in the european union a license from one member state covers the whole continent.

Over the years regulators around the globe have tried to organize some sort of universal regulatory umbrella. Mifid (markets in financial instruments directive) was introduced in the UK in 2007 and has been the cornerstone of europe’s financial regulatory regime since then.

The mifid regulation is now being revised to improve the functioning of financial markets in light of the financial crisis and to strengthen investor protection. The changes are currently set to take effect from january 3rd, 2017, although discussions are taking place between the european commission, european parliament and the council of the european union about the possibility of implementation being delayed. The new legislation is known as mifid II and includes a revised mifid and a new markets in financial instruments regulation (mifir).

There are, however, powerful voices working to lobby against the wholesale forex market coming under a wide regulatory cover. The association for financial markets in europe (‘AFME’), an industry body, has come out against the MIFID II strict regulations and has published a paper recently stressing that “unintended consequences” could result in over-regulation of the forex industry which would prevent brokers from serving their traders comfortably.

Local approaches

At the moment, there is no uniform approach globally when it comes to this market. The regulatory industry continues to act on a local level with each broker applying for regulation in a chosen location and some organizations are more active than others. In japan, one of the world's most active retail forex market, the financial services authority (FSA) regulates all markets including retail foreign exchange. The FSA is proactive in regulating retail forex trading and has reduced the maximum leverage that can be made available to retail forex traders several times in the last few years. In the united kingdom where the FCA (formerly the FSA) is the main regulatory agency and in most of continental europe, there are few limits on the amount of leverage offered.

Cysec, the financial regulatory agency of cyprus, is part of the european mifid regulations but it has attracted a number of overseas firms who wish to take advantage of what is seen as light regulations and an easy way to get a license without having to meet the stringent requirements that are imposed by other european financial regulators.

Presently, relative non-regulation of the institutional forex market continues to pose ongoing risks to the retail investor which includes higher currency volatility and discrepancies in available public information.

Despite the difficulty and expense for brokers to function under an authorized regulatory body, there are many worthy brokers that choose to do so and these should be considered above all others. Traders have a wide selection of regulated brokers in their own jurisdiction or in other regions as well and they will find all the same features—and more—with regulated brokers as with non-regulated ones.

Fresh forex review – is fresh forex scam or legit broker?

Fresh forex

Rating

No data about segregated accounts

Not all relevant info available on site

Online chat options limited

Fresh forex is a documented member of this IDACB (international decentralised association of cryptocurrency and also blockchain). It’s licensed and controlled at st vincent and grenadines, together with fiscal services provided by riston capital LTD. This internet forex broker was usable after all 2004, also it supplies a plethora of FX trading solutions to both individuals.
These include a few popular accounts kinds like the classic account, market pro account, and also the expert ECN account. Together with trading terminals MT4 and MT5 in performance, fresh forex supplies a vast selection of store order executions, multiple order types graphs, graphs, charts and other investigation. This forex broker boasts the ordinary withdrawal period of 11 minutes, so dictate implementation time of 0.3 seconds, and also an ordinary spread worth of 0.2.
This forex broker features an extraordinary selection of offerings, especially leverage of 1:2000, spreads from 0%, micro heaps starting at 0.01, cryptocurrency trading and 0 percent commission on deposits. As an industry-leading authority, fresh forex has been given 30 times, also it has customers in 158 states. There are a few 130 trading tools readily available, with easforex via telegram, and rapid order execution.

Overview/ desktop

Fresh forex was going strong for 14 decades, also is considered a market-leading thing at the FX trading stadium. A number of the profits available through this broker comprise tight spreads, zero deposit, and also rapid lack times. In addition, customers of fresh forex obtain to delight in a vast array of educational tools and tools, training solutions, and analytics. A number of awards are awarded for the broker through time, for example the kroufr awards in 2016, the 2015 shanghai forex expo award-winning, the invest award in 2014, the russian affiliate congress (RACE) award along with also others.

This forex brokerage organization is possessed by riston capital limited, having its physical address located in st vincent and the grenadines. The international business company number is currently 20623 IBC 2012, with the day of incorporation recorded as august 29, 2012. The business is up to date having its own obligations and fees, as determined with the registrar of international business companies (september 5, 2018). Customers may begin investing in real money, or with a demonstration account in their own leisure. Among the others, you can find numerous bonuses out there to customers like tradable deposits, bonuses without commission, cashback and more.

The assortment of trading tools comprises forex pairs, and spot rare metallic cfds, CFD strength futures, cryptocurrency cfds, indices, company shares and so on. This broker comprises weekly and daily predictions and calendars of events, upgraded financial trading information, and crucial advice on rates of interest, holiday programs, and worldwide trading sessions.

Account types

Several unique account types are readily available to traders in 158 nations. To obtain going, traders will be expected to finish the registration form by choosing their country, entering biographic info, and trading on the web. It will take moments to start a free account, as soon as the necessity information was entered, customers may begin trading financial tools. It’s likely to start 9 real-money accounts in addition to an affiliate account in fresh forex. The classic account and also the market pro accounts procedure requests through the store variant. Prices are implemented at amounts on the store at the opening/closing of the arrangement. With market pro accounts, make benefit and stop-loss orders could be installed after the starting position.

A fast comparison of the various account types is recorded underneath:

ECN account using metatrader 4 to android, iphone, windows and mac apparatus. A vast assortment of trading tools is available for example cfds, silver, gold, and money pairs. The minimum order size is 0.01 lots also it includes market disperse. Eas are all permitted. Other characteristics include hedging, portable trading, 1-click trading, pending orders, trailing stops, and swaps.

Market pro account using metatrader 4 to android, iphone, windows and mac apparatus. The trading tools include currency pairs, including silver, gold, and cfds. The minimum order size is 0.01, also there are drifting spreads. Eas are permitted, and now there are scores of forex pairs, zero commissions, and also a minimum disperse on the EUR/USD couple of 0.9. Other characteristics involve EA trading, hedging, phone trading, 1-click trading, pending orders, trailing stops, and swaps.

The classic account runs metatrader 4 to android apparatus, windows, along with ios. Trading tools include things like gold and silver, gold, money pairs, and cfds. There are mended spreads and expert advisers (eas) are all permitted. Other characteristics include hedging, portable trading, 1-click trading, swaps, trailing stops, and impending orders.

Trading platform/ applications

The forex trading programs involve metatrader 4 and also metatrader 5. Metatrader 4 is now the very widely used platform for trading forex online. It’s essentially the most critically acclaimed forex currency trading platform, as a result of its userfriendly nature and higher functionality. Customers may quickly trade stocks, cfds, and forex at the click of a single button. Metatrader 4 allows traders to test financial tools, receive real-time upgrades, and increase trading opportunities utilizing different trading strategies.

Metatrader 4 could be utilized on PC, mac systems (mac pro and imac), iphone, linux, along with android devices. The metatrader 4 stage includes 9 time-frames, cfds, futures, forex, and store implementation style. With a great number of graphs and stats features, metatrader 4 includes builtin MQL4 terminology, a selection of trading signs, email functionality, and a multilingual interface.

Metatrader 5 is an internationally recognized forex currency trading platform. Together with metatrader 5 (MT5), traders all around the globe obtain to savor boosted functionality and usability to better trade a vast variety of stocks, cfds, and forex. This trading platform provides real-time information, analysis, and trading actions. Metatrader 5 permits a real income trading immediately on PC, mac os’s, iphone, and android apparatus. You can find 9 time-frames using metatrader 5, for example store implementation style, full solitude, infinite charting capacity, broadcasts, custom indexes, and expert advisers. Using MQL4 terminology, this multilingual interface offers all of the qualities required to profitably trade forex on the web.

Deposit options

Multiple secure and safe deposit methods are all open to traders including visa, mastercard, NETELLER, epayservice, bitcoin, QIWI wallet, bradesco, itau, webpay, webmoney, skrill, along with fasapay. Typically, the deposit money comprises USD, EUR, RUB, along with CNY. There are no commissions on such deposit procedures, and trades permit immediate processing of deposits. All residue options are all secure and safe, due to SSL technology and complete account protection.

Markets

A vast assortment of stores is now offered by fresh forex. The trading tools include forex pairs, and spot rare metallic cfds, CFD energy futures contract, cryptocurrency cfds, CFD on indices, and also cfds on corporate shares.

Forex – EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, AUD/USD, NZD/USD, AUD/CAD, AUD/JPY, CAD/JPY, CAD/CHF, and EUR/GBP amongst others.

Spot valuable metals cfds – XAU/AUD, XAU/EUR, XAU/USD, XAG/AUD, XAG/USD, XPD/USD, XPT/USD.

CFD energy – WTI crude petroleum, natural gasoline, brent crude oil

Cryptocurrencies cfds – XLC, ETH, BTC, XRP, BCH, along with LTC

Cfds on indices – dow jones 30, IBEX 35, SP 500, FTSE 100, DAX 30, CAC 40, NQ 100, along with also others.

Cfds on corporate shares – apple, facebook, intel, tesla, yahoo, AIG, coca-cola, jpmorgan, mcdonalds, nike, reuters, mitsubishi, honda, ford, barclays, alibaba, general motors, fedex, colgate, canon, bank of america.

Bonuses

Several bonuses and promotional supplies are all readily available for traders. Included in these are the tradable bonus 101 percent, deposit free of commission, and cashback offers. It’s a great idea for customers to get fresh forex support for all these promotional supplies.

Customer support

Clients might obtain connected with support via several stations. These feature online chat functionality that’s available 24/5. The current email – [emailprotected] – is also an equally efficacious means to get customer service agents. The customer support representatives are favorable, professional, and highly receptive for traders. The head is located at another address:

St. Vincent and the grenadines
kingstown, beachmont
P.O. Box 1510, suite 305
griffith corporate centre

Telephone assistance is obtained through multi-channel options with 24/5 service. Calling number to call will be 44-207-099-2124. The service representatives are proficient at handling technical, trading, enrollment, and even account-related matters. An internet contact form is available for traders, together with customers necessary to input company info, contact name, email, cell phone number, and also the information. Customer service representatives endeavor to answer questions as promptly as achievable.

Safety

Safety is actually a rank characteristic of the services supplied by fresh forex. This forex brokerage works hard to keep the confidence of its own patrons, plus it does this by providing fully accredited and regulated trading products and services. The business that owns fresh forex – riston capital limited – is both fully licensed and regulated to supply forex trading products and services. As this organization is governed by CRFIN at russia the similar standards don’t connect with european and UK brokerages.

Ease of use

It is relatively simple to obtain fully up and functioning using fresh forex. The trading platform suits customers in states all around the globe, with a range of trading requirements, account types, and also generous bonuses. The forex analytics and forex education segments are useful additions to this stage.

Final thoughts

Fresh forex provides a variety of forex account types for customers. Included in these are islamic accounts, demonstration reports, classic balances, expert accounts etc. Plus, in addition, there is a huge selection of financial tools to trade, for example FX, cfds, commodities, shares, and so on. We’re unable to verify background reports, or UK/EU law with the broker.

Freshforex review, rating and comparison

RECOMMENDED FOREX BROKERS

Trading accounts & conditions

account type	minimum deposit	minimum trade size	maximum leverage	spreads (& commission)
classic	$1	0.01	1:1000	fixed 2.0 pips
market pro	$1	0.01	1:1000	variable, averaged 1.6 pips
ECN	$1	0.01	1:1000	variable, averaged 0.2 pips + $6 /lot round trip

Freshforex offers several forex trading account types – two commission-free ones (fixed-spread and floating-spread), as well as an ECN account with raw market spread, which involves a commission fee. All of them provide market execution, the option to trade in micro lots and high leverage levels on the metatrader 4 platform.

In addition, there are islamic (swap-free) accounts that do not involve any interest/swap charges on overnight positions. Keep in mind however, that these account types involve commission fees (from $5 to $30 per standard lot, depending on the instrument).

There is no minimum initial deposit requirement set to open an account with freshforex, yet the recommended sum to start trading on classic account is 200$, on market pro account – 400$, on ECN account - 2000$.

Overall, we find freshforex’s trading conditions attractive: no initial deposit required, high leverage levels offered and competitive spreads. The best spreads are available on ECN accounts (accessible with just $1 investment), where average trading costs amount to just 0.8 pips for the EUR/USD pair per standard lot. For further information and comparison, you may look up the real-time spreads of 15 leading brokers here.

T he company. Security of funds

The broker reports its clients’ success rate on a monthly basis (profit-loss percentage)

Freshforex is an offshore-regulated broker mostly active in russia and asia. It offers online trading in forex and contracts for difference (cfds) on metals, stocks, indices, energy futures, and binary options, as well as analytical, educational, and training services.

Freshforex a brand of riston capital, an investment company based in st. Vincent and the grenadines. Registered as international business company (IBC) in st. Vincent and the grenadines.

Ibcs in SVG are not obliged to meet capital adequacy requirements, to keep client money in segregated accounts, nor to arrange a compensation scheme in the event of insolvency.

In other words, trading with offshore brokers is a risky business and we generally advise traders to avoid them. Nonetheless, freshforex is in the business since 2004, has earned a good reputation and its trading conditions are really attractive. Besides, the broker is a member of russia’s commission for the regulation of relations on financial market, KROUFR.

Trading platforms

Like most brokers, this one also supports metatrader 4 (MT4), available as desktop and mobile versions.

Traders all over the world choose this online trading platform because of its functionalities and ease of use. With MT4 trading platform, you can easily trade on financial markets using a number of technical indicators, extensive back-testing options, advanced charting package, and wide range of expert advisors (eas). Besides, in order to provide its clients with flawless operation of eas, freshforex offers VPS hosting for just $10 per month.

In september 2016, freshforex launched trading via cloud-based messaging app telegram, using its easy bot software. The service, the first such in the forex market, enables a simplified mode of forex trading.

Freshforex is a generous brokerage that offers a number of attractive promotions, including the megarebate program with three different schemes, as well as 101% tradable bonus.

Methods of payment

Freshforex offers its clients a wide range of payment methods to choose from: credit/debit card (visa, mastercard), bank wire transfer, and e-wallets neteller, OK PAY, fasapay, skrill, webmoney, wallet one and china unionpay, webpay, qiwi and bitcoin. Freshforex mastercard is also available and no withdrawal commission fees apply.

At the time of writing the present review, average withdrawal time (over the last 30 applications) is 30 minutes.

Conclusion

Freshforex is an offshore forex and CFD broker that offers attracting conditions for trading on the industry’s standard MT4 platform here are, in a nutshell, the pros and cons of freshforex:

Pros	cons
no minimum initial deposit required (even for ECN)	light regulation
low competitive spreads	no choice of trading platforms
MT4 available
fast withdrawals
bonuses offered

Latest news about freshforex

FXTM a regulated forex broker (regulated by cysec, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

Fxpro is a broker we are particularly keen on: it’s regulated in the UK, offers metatrader 4 (MT4) and ctrader – where the spreads start at 0 pips, level II pricing and full market depth. And the best part? With fxpro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS mastercard is also available for faster deposits and withdrawals.

Fxchoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

Hotforex is a EU regulated broker, offering wide variety of trading accounts, including auto, social and zero spread accounts. The minimum intial deposit for a micro account is only $50 and is combined with 1000:1 leverage - one of the highest in the industry.

Broker	country	regulation	platform	min deposit	review
	cyprus, UK, mauritius	cysec, FCA, FSC, FSCA	MT4, MT5, web	$10	review website
	cyprus, SVG	cysec	MT5, web, ctrader	$100	review website
	australia, cyprus	ASIC, cysec	MT4, MT5, iress	$100	review website
	cyprus,belize, australia	cysec, IFSC, ASIC	MT4, MT5	$5	review website
	UK, australia, south africa	FCA, ASIC, FSCA, cysec	MT4, trading station, ninjatrader	$50	review website
	UK, cyprus, UAE, south africa	FCA, cysec, DFSA, FSB	MT4, MT5, fxpro markets, ctrader	$100	review website
	cyprus	cysec	MT4, MT5, web	$1	review website
	belize	IFSC	MT4, MT5	$100	review website
	cyprus, UK, south africa, UAE	cysec, FCA, FSCA, DFSA	MT4, MT5, web	$5	review website
	hong kong	SFC	marketspeed FX, trading station	$1	review

Traders` reviews for freshforex

Spread

Slippage

Requotes

Price feed

Platform

Deposit/withdraw

Customer service

Summary

Sofar, had no problems

So far I had no problem on trading with them. The advantages of weekly educations are great for improving my trading quality all the time. Keep it up.

Another good one to review

Another good broker to review. Here I can point out several things, starting from their helpful deposit bonus to the fact that i can utilize my scalping robots on their VPS. Reliable trading terms with no hidden terms

This website is a scam. Only to get access to your credit card credentials and mislead you

Personally, I choose freshforex because of the low swaps, and the fact that, I've never had anyone complaining of slippages, or re-quoting. Simply for that!

I have choosen them because I prefer a short-term trading to a long-term. I trade on 5-10 pips, but it is not a scapling in the strick sense. That's why I value the execution speed and spreads as tight as possible. I trade on their market pro account and it satisfies me. I trade with profit, for the last month $250.

Awesome

On my side, my experience with freshforex has been very good, my account manager is most helpful person ever. They have the least spreads and have the fasted deposit and withdrawal methods

Broker nice

To get a good broker, you only need ti get to the broker's site. For example, get to a well known brokers site such as freshforex.. Go to the bottom of the page you will find licenses and regulations on thier home page! Thats an example of how to get a good broker.

Bonuses

I always try to choose some broker that offers no deposit bonus. For example, freshforex offers $2017 no deposit bonus at the moment and I will definitely activate it.

Broker is cool

According to the the best brokers rating of the international IAFT awards 2015, freshforex company became the first one in the "dynamic development" nomination!

Broker is super awesome

They have the tightest spreads.Secondly they have the fastest deposit and withdrawal systems. Lastly, I love their unending promotions and bonuses. Like right now there is a double bonus for every deposit!

Irresponsible trader

Freshforex denies responsability for their failures. Latelly, their failures are frequent and result in big losses for their clients.

Stay away from this broker!

I was with freshforex for about a year.
They are scammers and cheaters. When they see we make profit, they will try to give slippages, MT4 server disconnection and all sort of cheap cheating.

Freshfresh review

I opened an account in fresh forex website but not read any reviews. Doing really well with the demo account I opened a live account and lost it all. I'm comfortable trading with fresh forex. I move forward and search for another broker to trade. Xtrade is only a thief on forex market. I really bad experience with freshforex is scam.

Freshforex scam.

I was searching for a company where I can start trading with, I came across a nice review of freshforex they said it is now open for other languages not just russian language with friendly supports and professional brokers. I found myself creating and funding my first forex account. A broker from freshforex called me and promised me loads of profits. We were working together for almost 2 weeks until he began forcing me to make huge deposits after continuously losing money with the trades that he is advising me to open. He is really unprofessional. I filed for a withdrawal because I didn’t want my hard earned money to be wasted on something that is not really sure to give me profits anymore, the promise to make it as my secondary income is no longer happening. I already lost more than half of what I funded. I just want to get the remaining money in my account. The withdrawal took more than a week to get a “response” yes. Just a response. Informing me that I cannot withdraw my money because I “haven’t reached the trading volume for me to withdraw”. I asked them how much lots I need to trade to get my money only to find out that I have more than what they are asking from me. I told them that I traded more than what is required but then they gave me a stupid response such as I need to talk to my broker for the withdrawal. I insisted that my broker is no longer answering in my emails but they just kept on repeating what they said, that I need to contact my broker, I asked for a personal phone number where I can reach my broker but they said they cannot provide me that information, that they do not have it as well. Then I know that I have been scammed by freshforex! They are good at first but after sucking all that I have they will not answer to me anymore. And will not give me my own money. Let us report them. Whoever representative that freshforex has, please note that I am willing to cooperate just for you to give my money back. Or at least let me have my remaining money in “MY ACCOUNT”.

Freshforex

Company riston capital ltd

Founded in 2004

Online since 2006

Offices in

Advcash

Bitcoin

Credit/debit cards

Easypay

Fasapay

Mobile network operators

Neteller

Perfect money

QIWI

RBK money

Skrill

Webmoney

Wire transfer

Yandex.Money

Chinese yuan

Euro

Kazakhstani tenge

Russian rouble

United states dollar

Account types:

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Minimum account size $400

Minimum position size 0.01 lot

Spread type variable

Typical spread on EUR/USD, pips 1.5

Minimum spread on EUR/USD, pips 0.9

Scalping allowed

Expert advisors allowed

Trading instruments

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Reviews

142 reviews of freshforex are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.

Too bad that this broker has no live chat client support on their website. But I see no problem since they have messaging system that will answer your question whatsoever. Although I'm not sure that I can do payments with cards, but skrill and netteler work fine.

Good to know that the broker supports scalping as I had prior experienced of disabled account due to scalping that they claimed it would be a problem to their trading servers. Not in freshforex since they welcome scalpers, like the spreads they offers, for example. Never had any requote on my scalp in their ECN account.

Freshforex offers one of the best execution of orders on ECN-accounts on the forex market: execution on average takes 0.05 seconds with low spreads and almost zero commissions.

Love the fact that the broker has their own trading forecasts that was made from their own trading expert. It's easy to follow their point of view since they only use small amount of trading indicators or even none at all in some cases.

Freshforex is the broker that convienced me to do trades without using any indicators. Although if you are a trade with indicators, they have tons of them on their trading platform.

I like the way their website reminding me of some important news. Thus it makes it easier to find for a potential currency that takes effect from the news itself. I wish they have some kind of copytrading, making my investment diverse on them.

Speculation and trade work hand in hand in a fast moving business like online trading, the sad thing is that most websites haven’t equipped their platforms with features that would let their clients do both, that’s why when I came across freshforex I was pleasantly surprised to see that this flexibility was on offer and it has made a huge difference

Great, I can trade a bit easier thanks to their daily market forecasts that gives me another consideration to the trading pairs I'm trading at the moment. You can also check them out in their website

Almost gained 100% of return only by relying on their analysis on their websites. But it doesn't mean you shouldn't make your own view since it's not a perfect analysis.

But if you understand the details, it is a professional service. Not surprisingly, they have turned 11 years. Working with account there is smooth, a rich selection of tools. I have yen and oil onintraday, I earn from 8 to 22% per month. No delays in payments of my profits.

Why freshforex? It has educational sessions every week to make sure you're keeping yourself with the market. Even you can utilize their simple strategy to your chart

This broker accepts every trader in the world through their diversity in payment processes. Not only by cards, you can choose so many payment methods to fund and withdraw your money from your trading account.

Great company to work with, giving constant extra money for being their partner (of course with good value of partner commissions). They also providing education section for those who are still looking for advanced lessons. Don't forget to mark some dates where they holding a webinar for their clients, including for this week

Fresh is realy fresh in freshforex! Interresting promotions, allways something new, quick withdrawal - all I need. And of course good execution. Suits very much for scalpers and robot users. Their deposit bonus is also different compared to others.

Very positive view from me as I've been in this company for 4 months. Very versatile broker with lots of trading instrument to trade with. Also you can expect tight spread and low commissions here.

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Fxdailyreport.Com

If you are a forex trader that has decided to work with a forex broker who will execute your trades, it is important that you keep in mind a few criteria to work with the right kind of broker. In the first place, you should examine carefully the regulatory status of the broker that you want to work with. Trading with a regulated forex broker is important if you want to have the least amount of risk when you are trading and you want to keep your capital investment safe. The forex broker that the trader chooses can be an individual broker, an association of individuals, or a brokerage company.

Top recommended regulated forex brokers

min deposit	spread	leverage	regulation	open account
$5	from 0.2 pips	500:1	FSA (saint vincent and the grenadines), cysec	visit broker
$1	from 0 pips	3000:1	cysec, IFSC	visit broker
$5	from 0 pips	888:1 “*this leverage does not apply to all the entities of XM group.”	ASIC, cysec, IFSC belize	visit broker
$1	from 0 pips	2000:1	FCA UK, cysec, FSP, bafin, CRFIN	visit broker
$100	starting 0 pips	up to 400:1	FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA	visit broker
$300	floating, from 0 pips	500:1	FCA UK reference number 579202	visit broker
$200	starting 0 pips	500:1	ASIC australia, FCA UK	visit broker
no minimum deposit	1.2 pips	50:1	CFTC, NFA, FCA, MAS, ASIC, IIROC	visit broker
$10	cysec	visit broker
$200	from 3 pips	400:1	NFA, FCA, cysec	visit broker
$100	starting 0 pips	up to 500:1	FCA UK, ASIC australia, MAS singapore	visit broker

Why you must trade with regulated forex brokers

Starting to trade in forex these days is much easier than it was in the past. A trader can trade from anywhere in the world, even in the comfort of his/her own home. All you need to have is a computer, a reliable internet connection and help from a reliable forex broker who is regulated and offers a convenient and easy-to-use trading platform.

Regulation – what is it

Many major financial institutions around the globe comply with financial regulations. This compliance sets them apart as having a genuine purpose in running the organization and their willingness to follow rules and standards. In the case of a forex broker, it is necessary that they sign a code of conduct to run their businesses in different jurisdictions. The code of conduct is constituted by the local financial regulator. The code of conduct supplies a set of regulatory guidelines that the forex broker is expected to follow. It specifies as to how they should run their business. The guidelines also provide a framework on what behavioral and financial ethics the forex brokers are expected to follow.

On the financial front, regulated forex brokers will be expected to submit copies of financial reports to the regulatory authorities at specified intervals. Examples are operational accounts of the company that will be subject to audits by qualified personnel. Regulated forex brokers are also expected to work with an adequate amount of capital reserve and liquidity to ensure reliable and uninterrupted operations on their part.

The best regulated forex brokers will see to it that they comply with all the operational procedures and standards set by the authorities. Any failures on the part of the brokers to follow the guidelines that are specified are punishable and penalties will be charged. In the worst cases of non-compliance with rules, the broker’s regulatory status may be lost or their operations may be closed forcefully. In the interest of furthering their businesses, it is best for the forex brokers to comply with regulations.

Importance of working with regulated forex brokers

The forex broker is the connection between the seller and the purchaser of the currencies that are exchanged in the market. It is, therefore, important that the brokers that the traders want to work with have appropriately planned businesses and a good standing reputation.

There are many reasons why forex traders should seek to work with regulated forex brokers. First and foremost, working with a regulated forex broker means that it provides a safety net for their investments. The trader is assured of the fact that their trading operations are being overseen by an official body. Any point of contention between the broker and the trader is resolved by the higher body. The guidelines that are put in place by the regulatory authorities control the different functional areas of the brokers’ operations. These are mainly in the areas of monitoring the brokers’ accounts and use of the clients’ data. They are designed to combat fraud on the part of the broker and also set benchmarks for customer service and support that is to be provided by the brokers.

The single most important aspect of regulation for the broker is dealing with the requirement of holding the clients’ funds in segregated accounts. This arrangement is in place to protect the users’ funds if the broker runs into financial trouble. This money may not be used by the brokers to settle their debts as it is ‘protected’. If this kind of a scenario happens, this money is to be returned to the client.

How to ascertain if A broker is regulated

Though a good number of forex brokers claim that they are regulated it is a good idea to ascertain the same before parting with any money or transferring funds to their account. Some forex brokers that operate in different parts of the globe are members of more than one regulatory body. This is good because there is additional scrutiny of their operations. This provides additional protection against fraud and malpractices. Though it is not an absolute requirement that a trader should associate with a forex broker in their own country, most traders prefer to utilize the services provided by a local forex broker because of the convenience of communicating in the language they are most comfortable with.

The main regulator for traders in the UK is the financial conduct authority (FCA) and for those in the US is national futures association (NFA). Regulators in europe include mifid and cysec. In the united states, a forex broker of repute is a member of the NFA and is also registered with the US commodity futures trading commission (CFTC) as a futures commission merchant and a retail foreign exchange dealer. This means that the broker is compliant with all the rules and programs that are laid out to protect the market and the traders from manipulation, fraud, and other abusive practices. It also means that these regulated forex brokers support open, competitive futures and options markets that are financially sound.

Having a well-designed and flashy website alone does not guarantee that the forex broker is a member of a regulatory body. A forex broker that is a member of regulatory bodies usually displays the fact on their websites. Typically, the member/registration numbers are displayed in the ‘about us’ section of the websites. Like the US, each country has its own regulatory bodies.

Forex regulatory bodies in the world

Forex is a decentralized market, so you should pay close attention to the broker’s regulatory status. This brings us to the question, what is forex regulation? It’s all about customer protection. These are rules set by bodies or authorities to protect traders and investors. The regulatory agencies audit licensed brokers to ensure they meet the industry standards. Here are the best forex regulatory bodies to help with your investment decision.

Commodities futures trade commission (CFTC)

This regulatory body protects individuals and investors in commodity, futures, and forex trading. Since it was established in 1974, CFTC has been at the forefront of creating a level playing field for investors. The mission of commodities futures trade commission is to be competitive and financially sound. To ensure transparency, CFTC receives data from reporting firms every month. The body has five committees who represent the interest of traders, commodity exchanges, and futures exchanges.

CFTC guarantee investors that the price of commodity futures is fair. Without regulation, sellers could have control of the current and future prices. This means that there would be unfair commodity prices in the market. CFTC has invested heavily in research and development.

National futures association (NFA)

NFA began its regulatory operations in 1982 and is one of the top forex regulatory bodies in the US. The national futures association protects market participants and monitor industry integrity. Their members include commodity pool operators, commodity trading advisers, introducing brokers, and futures commission merchants. Once you register as a member, NFA must perform a background check before you’re allowed to conduct business in public.

Because the members are required to pay membership fees, NFA remains completely independent. The body takes disciplinary measures to members who violate the rules. And before you make the investment decision, NFA provides investor education. Also, traders are given a lot of resources to help them make an investment decision. Any entity or person conducting business in the futures exchange market should register with the body. Furthermore, the regulator offers new programs to ensure the members stay up-to-date with the current changes. If a member is being investigated, NFA works together with the FBI to ensure the prosecution is successful.

Financial conduct authority (FCA)

FCA regulates over 59,000 financial firms in the UK. It ensures individual investors and businesses get a fair deal when they trade in the financial markets. Whether you’re a novice or an advanced trader, the body will ensure there are no malpractices when conducting online business. And because this is an independent public body, it’s accountable to the treasury. Just like other financial regulatory bodies, FCA works with trade associations and stakeholders.

Once you become a member, you can find lots of information regarding mortgages, insurance, and any other financial advice. And if you’re unhappy with the services of the forex broker, you simply report and claim compensation. According to financial services and reporting act of 2000, any firm that carries financial activity must be regulated by FCA. Brokers must adhere to the regulatory system and meet the set standards. As an investor, you should sign up for a monthly newsletter that shows all the regulated firms. You can also access a wide range of publications regarding your broker.

Cyprus securities exchange commission (cysec)

Cysec was established in 2001 and is part of european mifid regulation. Because cyprus is one of the top destinations for forex brokers, cysec serves as a gateway to europe. The commission is tasked to oversight the performance of brokers. Forex brokerages regulated by cysec must provide financial services according to the rules set by the body. Also, the operations must comply with the european commission (mifid). If you’re using a broker under cysec regulation, you don’t have to worry about the safety of your funds.

Cyprus securities exchange commission grants operating license to investment firms, forex brokers, and brokers for binary options. Other than that, it imposes disciplinary penalties to firms that fall under stock market legislation. Due to the high reputation of the regulator, brokerage firms use the body to gain investor confidence. If you’re an investor within eurozone and you’re not sure whether the broker is regulated, you can ask for information at customer support. Unlike most regulatory bodies, cysec imposes higher fines and penalties to forex brokers who go against the set rules.

The swiss financial market regulatory authority (FINMA)

This is one of the most trusted and safest regulatory bodies in switzerland. It works closely with other banks to monitor the operations of forex brokers. FINMA was established in 2007. It has authority over financial institutions and investment schemes. And because it’s an independent body, the regulator reports to the swiss federal department of finance. Each year, FINMA audits the financial institutions to ensure all measures are in place. Besides that, the regulator represents the global stage and fights terrorist financing activities.

The canadian security administrators

These are provincial security regulators whose goal is to regulate forex brokers in canada. They strive to cultivate policies impacting the investment landscape. Beyond regulated-related functions, the body educates the public on all aspects of the financial market. All brokers in canada are required to register with the body.

Australian securities and investment commission (ASIC)

ASIC regulates the financial markets in australia and surrounding regions. It was established in 2001 and strives to ensure the forex markets are transparent. Under the ASIC act, brokers are required to store and process the information quickly. They should also improve financial system performance to boost investor confidence. Also, the body educates investors on prudent financial investment. And based on consumer behavior, they hold gatekeepers into account. ASIC also regulates organizations such as mortgage brokers, finance companies, and credit unions. This regulatory body takes financial fraud very seriously.

Federal financial markets service

This is an executive body that controls the financial markets. Since it was established in 2004, it took over the role of federal executive branch agencies. The main goals of the regulatory body are consumer protection and financial accountability. It works closely with government agencies and banks to ensure the safety of the trader’s funds. Also, they have strict laws that prevent market manipulation and insider trading. If you want to file an official complaint with your broker, you should make an official report on the customer’s section.

Since there’s no centralized market to control forex exchange activities, you should ensure your broker is regulated. The idea of forex regulation is to boost investor confidence and maintain sanctity in the financial market. Ideally, the above forex regulators ensure traders are not subjected to conditions that tilt the market against them.

10 forex scams & unregulated brokers to avoid

Forex traders with little experience can be deliberately targeted by unregulated and deceptive brokers, as well as other so-called industry professionals, attempting to fraudulently obtain their money.

Regulation of this relatively new industry is continuing to improve and provide traders with protection and peace of mind. However, there will always be shady operators, setting traps and using tricks to manipulate unsuspecting clients. Traders always need to be on their guard and extremely thorough with their checks before handing over large sums of money to anyone in the industry.

Here are ten common forex scams to look out for.

1. Fake / unregulated brokers

Fake, unregulated brokers can lure traders in with promises of high and even guaranteed profits, zero spreads, or other unrealistic offers. As much FX trading is now done online, it is easy for fraudulent companies to put together a high-tech web presence that looks entirely plausible. It is therefore vitally important to perform stringent checks on the broker before entering into any trading agreement.

Traders should check for a company address and verify it; check the website whois information and make sure it is registered in the company’s name (or their parent company name); and only go for brokers that are authorised and regulated by the relevant industry regulator, such as the FCA in the UK, or cysec in cyprus, etc.

The financial conduct authority have a useful tool that allows you to search for a company to see their regulatory status and history.

The regulatory status should be declared on the broker’s website and is an important indicator of whether or not a firm can be trusted. If they are regulated by a reputable regulator in their country of origin, then they are more likely to be legitimate, act responsibly, and be accountable for their actions; as they risk losing their licence and reputation if they fail to act in accordance with the required standards.

Brokers to avoid

Notorious unregulated brokers can be uncovered with a simple internet search. Examples of firms publicly highlighted by the FCA as being unauthorised include:

AMFX (www.Amfx.Com)

Banco FX or banko FX (www.Bancofx.Com)

TFX traders (www.Tfxtraders.Com)

Golden green FX limited (https://www.Ggfonline.Com, https://www.Goldengreenforex.Com)

A few reputable alternatives include avatrade and etoro.

2. Clone broker firms

Some firms may appear to be regulated at first glance, as they are registered on the regulator website and able to provide a registration number, however further investigation reveals that they are just extremely similar to a genuine, regulated broker. They may have just used a slightly different spelling or a variation of the registered broker’s name. This highlights the importance of carrying out detailed and thorough checks before entering into an agreement with a broker.

3. Clone regulator websites

Another way a fake broker may convince a trader that they are legitimate is by publishing their regulatory status on their website and linking through to the regulator web page where their entry appears. Except that it isn’t the regulator website at all, and is actually a clone of the register that they have deliberately set up to appear authentic.

To avoid falling into this trap, be sure to go to the actual regulator website and search the register for the broker from there, rather than trusting a link from the broker’s site.

4. Signal sellers

Signal sellers can be companies or individuals claiming to be able to identify the best trading opportunities, and when they are fraudulent, they often promise quick and easy profits.

They may allege to have extensive experience and expertise, remarkable technical analysis abilities, or privileged access to news affecting the direction of the markets; and these statements are often backed up by glowing testimonials from numerous traders who apparently have made significant profits from the services. The information is provided for a fee, but of course, there is no way to recoup this outlay if it proves to be bogus. If a trader does want to go ahead and use a signal seller, they are responsible for vetting them and verifying their reliability before proceeding with the transaction.

5. Trading robot sellers

Automated systems, more commonly known today as ‘robots’, are also offered by scammers purporting to reward traders with high returns for little effort. They may claim that their robots examine price volatility and other factors in order to assess the best time to enter or exit a market. However, often the trades are simply random and absent of any kind of logic. Again, the sales page is regularly accompanied by numerous fake testimonials from traders declaring how the robot has earned them significant profits generating trades on their behalf. If a trader wishes to use an automated system as part of their trading strategy, then extensive research should be conducted to ensure scam robot sellers are avoided.

6. Forex ponzi schemes or high yield investment programs (hyips)

Ponzi schemes are still one of the most well-known scams around and alarm bells should ring straight away if a forex investment scheme seems too good to be true. In a typical example, money is diverted from people entering the scheme to pay the exceptional profits promised to previous investors. The cycle continues: word spreads about the extraordinary scheme, and as more people join, more money becomes available to pay the alleged profits. Eventually, the scheme collapses and/or the scammer disappears with everyone’s money.

7. Fraudulent fund managers

Trading forex can be intimidating, particularly for those entering into it for the first time, so when a fund account manager comes along promising high returns for minimal risk, it can be a tempting prospect. When investors start to receive additional demands for money as markets did not perform as predicted and the fund manager needs to correct the position, this is inevitably a bad sign. Some people can repeatedly fall for this scam, though, until eventually the penny drops (pardon the pun) and the money manager disappears, along with all the investor’s money.

8. Overpriced training & education programs

Traders should be wary of education programs with a promise of profitable results. These are often sold for inordinate fees and are unable to deliver on their promises.

Whilst training programs can be useful for learning the basic process and guidelines, any course declaring that it can teach someone to become an expert in no time at all is probably worth avoiding altogether.

There is a wealth of free information available that may be just as or even more useful than a costly training program: youtube videos; podcasts; webinars and demo accounts give a potential trader the opportunity to test their abilities before trading with real money; and so on.

9. Manipulation of bid / ask spreads

This scam relies on the naivety of the trader, as it assumes that they are going to be more concerned with checking market movements than the commission being taken by the broker through their bid and ask point spread. The wider the spread, the more money is being pocketed by the broker, and this reduces any potential profits for the trader. The scam is not as common as it used to be thanks to better regulation of the industry and increasingly savvy traders, but it still exists, particularly with offshore, unregulated brokers.

10. Stop loss hunting

Deceitful brokers have been known to manually close a position before reaching the stop loss set by traders in order to gain additional trading commissions. This is not very common and is unlikely with a regulated broker, however, is still potentially something to look out for – particularly when using a market maker broker.

So, let's see, what we have: is freshforex a regulated forex broker or a scam? Read our full in-depth freshforex review and comments by many forex traders before you open a forex account. At is fresh forex regulated