Is FreshForex Regulated in Poland? Is it Legit? - TU Expert review
FreshForex is currently not regulated by any financial authorities. While the broker may offer attractive trading conditions, the absence of regulation means there is no oversight to ensure fund security, fair trading practices, or compliance with industry standards.
Is FreshForex regulated in Poland? Broker’s license
Security (Protection for Investors)
FreshForex is not regulated or licensed by any reputable financial authority. This poses a higher risk for traders as there is no regulator overseeing the broker's activities and ensuring traders' funds are protected.
👍 Advantages
- Flexibility in products/leverage
- Ease of access
- Fewer compliance procedures
👎 Disadvantages
- No regulatory protections for traders' funds in case of insolvency.
- Limited transparency into the broker's operations and financials
- No external dispute resolution options
Is FreshForex regulated in Poland? Broker’s license
At the moment, FreshForex is not regulated in any country.
Traders Union experts strongly recommend prioritizing regulated Forex brokers. Regulation ensures that brokers adhere to strict compliance standards, providing traders with greater financial security, transparency, and protection against fraud. A regulated broker is also more likely to resolve disputes fairly and safeguard client funds.
To help you make a safer choice, we have compiled a list of the top 3 alternative brokers with high ratings according to our methodology:
| Plus500 | Pepperstone | OANDA | |
|---|---|---|---|
TU overall score |
6.83 |
7.17 |
6.8 |
Regulation |
FCA, CySEC, MAS, ASIC, FMA, FSA (Seychelles) |
ASIC, FCA, DFSA, BaFin, CMA, SCB, CySec |
FSC (BVI), ASIC, IIROC, FCA, CFTC, NFA |
Tier-1 regulation |
Yes |
Yes |
Yes |
Investor protection |
€20,000 £85,000 SGD 75,000 |
£85,000 €20,000 €100,000 (DE) |
£85,000 SGD 75,000 $500,000 |
ECN Spread EUR/USD |
0,1 |
0,15 |
Short summary about the broker FreshForex
FreshForex offers more than 270 assets for trading, including Forex, CFDs on stocks, precious metals, energy, indices, and cryptocurrencies.
FreshForex boasts attractive trading conditions with spreads from 0 pips and leverage up to 1:2000. There are several account types - Classic, Market Pro, and ECN - catering to different trader levels and preferences. Traders can start with a minimum deposit of just $25, though higher deposits are recommended for certain accounts.
While lacking a top-tier regulatory license, FreshForex has built a reputation through 20 years of operation with over 20 international awards for its trading conditions and services. The broker aims to provide flexible, low-cost trading options across multiple asset classes.
| 💰 Account currency: | US dollars (USD), euro (EUR), KZT, ZAR, NGN, MYR, TZS, Cryptocurrencies: BTC (Bitcoin), ETH (Ethereum), ADA (Cardano), BCH (Bitcoin Cash), BNB (Binance coin), XRP (Ripple), LTC (Litecoin) |
| 🚀 Minimum deposit: | $25 |
| ⚖️ Leverage: | From 1:25 to 1:2000 |
| 💱 Spread: | Fixed (from 2 pips), Floating (from 0,9 pip), Lowest spreads (from 0 pip) |
| 🔧 Instruments: | Forex, CFD on precious metals, stocks, ETFs, indexes, Energy Futures, cryptocurrencies |
| 💹 Margin Call / Stop Out: | 100% / 20%; 100% / 40%; 100% / 60% |
Pros and cons of FreshForex
👍 Advantages of trading with FreshForex:
•favorable trading conditions;
•work with the liquidity providers having a European license;
•270 instruments for trading: Forex instruments, CFDs on precious metals, energy products, and indices, cryptocurrencies as well as corporate shares and ETF;
•spreads from 0 pips;
•the ability to replenish the account and withdraw funds quickly;
•bonuses and offers;
•easy to use the software that is available on your desktop computer, laptop, tablet, or smartphone.
👎 Disadvantages of FreshForex:
•customer service works 24 hours although not on weekends;
•no investment programs.
Why is it important for a broker to have the license in Poland?
A financial license is the key document for any broker. It confirms that the company complies with the requirements of the financial regulator and observes the law. It is important for traders to choose a broker registered their jurisdiction for the following reasons:
-
Any claim is filed at the place of the broker’s registration. Accordingly, in case any dispute arises, it will be easier for the trader to file a claim.
-
A license issued in Poland guarantees that the broker operates in compliance with the laws of this country and reports to the local regulatory authorities.
-
Traders can claim compensation under the government programs of deposit guarantees in case the broker experiences financial problems.
It is also possible to choose a broker that is not regulated in Poland. In that case, however, the company must have a license from a reliable regulator, for example of an EU country, the UK, USA, Australia, etc.
Brokers that are similar to FreshForex
In addition to FreshForex, also other brokers from this jurisdiction have the license of Poland. FreshForex has many competitors, and before you start working with this broker, you need to compare it to other companies. TU analysts have prepared a comparison of brokers that operate in the Poland market and have a license of this or another reliable jurisdiction.
Comparison of FreshForex with other Brokers
| FreshForex | Eightcap | XM Group | RoboForex | Exness | IC Markets | |
|---|---|---|---|---|---|---|
Trading platform |
MT4, MobileTrading, MT5 |
MT4, MT5, TradingView |
MT4, MT5, MobileTrading, XM App |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MT4, cTrader, MT5, TradingView |
Min deposit |
$25 |
$100 |
$5 |
$10 |
$10 |
$200 |
Leverage |
From 1:25 |
From 1:30 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
Trust management |
No |
No |
No |
No |
No |
No |
Accrual of % on the balance |
No |
No |
No |
10.00%% |
No |
No |
Spread |
From 0 points |
From 0 points |
From 0.8 points |
From 0 points |
From 0 points |
From 0 points |
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
Execution of orders |
Market Execution |
Market Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution, Instant Execution |
Market Execution |
No deposit bonus |
No |
No |
No |
No |
No |
No |
Cent accounts |
Yes |
No |
No |
Yes |
Yes |
No |
Is it safe to trade with FreshForex in Poland?
FreshForex is not regulated in Poland. The company does not hold a financial license, which could raise certain security-related questions. Nevertheless, the company has a good reputation and has proven its reliability to traders. FreshForex offers attractive conditions; many traders in Poland have chosen to work with this broker. However, be aware of the risks when working with such companies.
FAQ
How do I check a broker’s license?
Brokers should provide their license on their official website. It is also recommended to check it on the official website of the financial regulatory authority.
Does a broker need to have an official representative office in Poland?
Yes. According to the rules of Poland, brokers must have an office in Poland. This is a mandatory condition for obtaining the license.
Can the license issued by Poland be considered reliable protection against fraud?
Yes. The rules of the financial regulator of Poland are very strict, which makes obtaining a license in this jurisdiction extremely difficult for scammers.
What kind of information should a broker provide for traders?
On their official websites, brokers must provide the name of the managing company, r egistration certificate, legal address and internal regulatory documents.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.