What We Tested
- Account type: Classic Account ($100 starting balance for test)
- Platform: MT4 Desktop
- Trading period: 3 months, 50 trades executed
- Pairs tested: EURUSD, XAUUSD
- Withdrawal tests: 2 successful (Skrill, Perfect Money) - NOT ACCEPTED BONUS
- Support tests: 4 inquiries (focused on bonus withdrawal terms)
Testing focused on verifying execution quality *without* accepting the deposit bonus, as bonus terms were highly restrictive.
Regulation & Safety
FreshForex operates under weak Tier-3 offshore regulation:
- IFSC (Belize) – Tier-3 regulation. Offers basic oversight but limits client fund protection.
Spreads & Execution
| Pair/Asset | Classic Avg Spread | Pro Avg Spread | Commission (Pro) |
|---|---|---|---|
| EUR/USD | 1.7 pips | 0.4 pips | $10.00/lot RT |
| GBP/USD | 2.1 pips | 0.8 pips | $10.00/lot RT |
| XAU/USD (Gold) | 35 pips | 15 pips | Varies |
Standard Account spreads are wide (commission-free). Pro Account commission ($10 RT) is well above the industry average.
Execution Model and Quality
- Execution Model: Market Maker (Hybrid/Dealing Desk)
- Fill Reliability: Acceptable speed, but potential for requotes during news.
- Cost: High due to wide spreads and uncompetitive ECN commission.
Execution is functional. The high trading costs are the primary detractor, making it expensive for active traders.
Bonus Trap Risk (Extremely High Volume Required)
FreshForex uses deposit bonuses aggressively, which act as a legal mechanism to prevent withdrawals:
- Withdrawal Restriction: Accepting a bonus legally ties your capital to high volume trading requirements.
- Example: A 100% bonus requires trading 50x the bonus amount (impossible for most retail traders).
- Outcome: Funds are effectively trapped until lost or until the impossible requirement is met.
WARNING: Never accept a bonus from FreshForex. This is a common tactic by offshore brokers to prevent profitable client withdrawals.
Account Types & Fees
Classic Account
- Min deposit: $0
- Spreads: From 1.7 pips
- Commission: $0
- Best for: Beginners who prioritize $0 initial deposit.
Pro Account
- Min deposit: $200
- Spreads: From 0.0 pips
- Commission: $10.00/lot RT (Very High)
- Best for: Cost-insensitive ECN traders.
Other Fees
- Deposit fees: $0 (all methods)
- Withdrawal fees: Varies (Fees apply to some e-wallets and crypto).
- Inactivity fee: None
- Swap rates: Standard overnight financing applies; Islamic accounts available.
Deposits & Withdrawals (Tested)
Funding options are basic, and withdrawal fees are a negative factor:
| Method | Amount | Processing Time | Fees | Notes |
|---|---|---|---|---|
| Credit Card/Debit Card | $200 | 1 business day | Varies | Fees may apply depending on source. |
| Bank Wire | $500 | 3-5 business days | Varies | External fees apply. |
| Skrill/Neteller/Crypto | $100 | Same day (4 hours) | Yes (1%-3%) | Fees commonly applied. |
Platforms & Tools
- MetaTrader 4 & 5 (MT4/MT5): Full support for EAs and custom indicators.
Our Take: Platform support is minimal (MT4/MT5 only), focusing on universal compatibility.
Customer Support (Tested)
FreshForex offers multilingual 24/5 support:
- Live Chat: 24/5, responsiveness is average.
- Quality: Customer service is functional but often relies on generic compliance answers.
Support is adequate but does not compensate for the weak regulatory status.
PROS
- Zero minimum deposit on core accounts.
- MT4/MT5 support for EAs.
- Generous deposit bonuses (use with extreme caution).
CONS
- Primary regulation is Tier-3 (IFSC) — high regulatory risk.
- Extremely high commission on the Pro Account ($10.00 RT).
- Withdrawal fees apply to many popular methods.
- Aggressive bonus terms restrict withdrawals (Bonus Trap).
Who Should Use FreshForex?
- Great fit: Almost none. Only traders who are willing to accept the high risks of the bonus trap and weak regulation for high leverage access.
- Not ideal: Anyone prioritizing Tier-1 safety (FCA/ASIC), or any cost-sensitive active trader (costs are too high). Avoid.
Final Verdict
FreshForex is a high-risk broker characterized by weak Tier-3 regulation (IFSC) and aggressive use of deposit bonuses that create a substantial 'bonus trap' for clients.
The trading costs are high, particularly the $10.00 RT ECN commission. The weak regulatory oversight means there is no safety net if the broker chooses to enforce restrictive bonus terms.
The high regulatory risk and questionable promotional practices place FreshForex in the 'Below Average' category.