Review of the forex broker TradeFred
TradeFred – a company providing brokerage services in the forex market since 2016. It is registered at the address SIP Building, PO Box 3010, Rue Pasteur. Port Vila, Vanuatu. The license number 17910 from the regulator was obtained in advance. tradefred.com supports multiple languages, including Russian, English, and Arabic. Various reviews about the company have caused some distrust among traders. In this review, we will try to uncover whether it is worth trusting TradeFred with your funds or if they are scammers.
Registration Process Stages
To start trading on TradeFred, you need to go through a registration process by filling out a form that includes the following points:
- name, email, potential client’s mobile phone number,
- additional information: date of birth, residential address, experience in Forex trading and choice of currency for transactions,
- account details: occupation, approximate income, and investments in trading.
The final stage is the verification process. The user uploads identity documents to the tradefred.com site. Users can also undergo additional testing. With a high level of trading expertise, there is an opportunity to move into the category of managers who help other clients trade effectively on TradeFred. If the user is not well-prepared, they can trade independently or seek advice from more experienced investors.
TradeFred Accounts
The tradefred.com site presents five types of trading accounts, each with its own service provision conditions. According to reviews, to open a specific account on TradeFred, a minimum deposit is required. The following account options are available:
- Basic – the minimum deposit is $250. This account offers consultations with a personal manager and access to market signals but does not include study materials, which may be a drawback for beginners,
- Standard – conditions are similar to Basic, with the only difference being the minimum deposit, which is $500,
- Advanced. Opened with a $1000 deposit, it provides access to education and free webinar viewing,
- VIP Pro. With a $5000 deposit, you can get consultations from analysts and trade with low spreads,
- VIP Premium. A professional account requiring a $10,000 deposit.
Trading Conditions on TradeFred
TradeFred offers various trading conditions that traders can choose from. Among them are:
- minimum lot size – 0.01,
- spread – 2.5-3 pips,
- leverage depending on the asset: currency pairs – up to 1:200, other instruments – 1:50-1:25,
- trading session times vary depending on the asset.
According to customer feedback, some of the trading conditions offered may negatively impact trading results.
Educational Materials and Analysis
On the tradefred.com site, educational materials and the TradeFred Academy are available. In these sections, you can learn about:
- Forex and CFD basics,
- the trading process on TradeFred,
- methods of technical and fundamental analysis.
Moreover, a FAQ section is provided, along with e-books and webinars. For practice and theoretical studies, there is a demo account, which is no different from a real account except that trading is done with virtual funds. This account is valid for 2 weeks from the registration date.
To improve trading results, various analytical tools can be utilized:
- daily reviews,
- market news and updates,
- TradeFred news center,
- Trading Central,
- trading signals,
- economic calendar,
- news and analysis.
Quotes are supplied by reliable providers such as FX SpotStream, Leverate, Swissquote, Credit Suisse, J.P. Morgan, Nomura.
Deposit and Withdrawal Methods
To start trading on TradeFred, traders must deposit funds into their accounts. The amount depends on the chosen type of investment portfolio. Deposit and withdrawal methods include:
- bank cards,
- payment systems like Skrill, Neteller,
- bank transfers, including transfers from other brokers’ accounts.
Transaction requests are submitted in the user’s personal cabinet on the tradefred.com site. The user selects a method, enters the details and amount. TradeFred processes requests within 5 business days, but according to customer feedback, this timeframe may vary. The company warns about possible delays due to bank or payment system actions.
Trading Terminal
TradeFred offers the popular MetaTrader 4 platform for trading. The tradefred.com site offers several options for usage:
- Web Version – a trading terminal on the browser,
- Desktop Program – installed on Windows and Mac PCs,
- Mobile Application.
MetaTrader 4 allows for in-depth analysis, real-time quotes, and demo account trading.
Affiliate Programs
To expand its client base, TradeFred has developed referral programs with three levels:
- Referrer. Designed for legal entities attracting new investors,
- Partner. The classic referral program for webmasters and resource owners placing links,
- Principal Partner. For those driving significant traffic to the site.
According to customer reviews, this program provides the opportunity to earn without significant investments.
Security System
TradeFred applies the following methods to ensure client security:
- modern data protection methods,
- identity verification to prevent fraud,
- storing inactive funds in cold accounts across different banks,
- automatic account balance monitoring during trading.
TradeFred Reviews Overview
Although TradeFred has not been in the market for long, numerous reviews can be found online. Positive reviews highlight the following aspects:
- user-friendly tradefred.com site,
- quality Russian-language support,
- presence of a license and partnership agreement.
Negative reviews can include:
- difficulties with fund withdrawals, requiring reauthorization,
- mismatch of trading signals with real situations,
- excessive information on the site that can confuse novices.
TradeFred Pros and Cons
By analyzing the work of the tradefred.com site and user feedback, the following TradeFred’s positive aspects can be highlighted:
- license,
- Russian-language platform interface,
- welcome bonuses and referral program,
- usage of MetaTrader 4 platform for trading,
- availability of 5 different trading accounts.
Among the negative aspects, we can mention:
- not the most favorable trading conditions,
- registration in an offshore zone,
- presence of negative reviews.
Author: Roman Leonidov
Read also: Expert Review and Honest Reviews of the broker Open Broker.
