TradeFred Broker Review

Review By: Alan Little

Review Updated: 2021-02-22

4

We do not recommend TradeFred at this time.
Why not try XM

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TradeFred broker features

TradeFred pros and cons

Pros

• Wide range of account options
• Offers trading signals
• Very good website to navigate

Cons

• MT4 is only platform available
• Regulation had a bad reputation but has recently been upgraded
• Founded in 2016 – new player in the industry

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Who are FXTM?

Our full tradeFred review is coming soon.

Previously trading as ‘MagicPath Capital Ltd’, TradeFred is one of the newer forex brokers on the scene that has gone through a recent resurgence. Currently, they are owned and operated by BrightFX Capital Ltd and are based in Cyprus. This is significant from a customer protection perspective as Cyprus is one of the most stringently regulated jurisdictions in the world. TradeFred offer fast and effective forex trading through a proprietary webtrader.

TradeFred Fees

4

Commissions and fees, like on many other platforms, will depend on the account type you have with them. The basic account is suitable for first-time traders and comes with a low minimum deposit and low leverage trading. The standard, advanced, and premium accounts, on the other hand, have much higher minimum deposits—up to $10,000—but will offer more competitive spreads on trades. While spreads are fixed across the TradeFred platform regardless of the product or currency pair, they are generally very competitive and seem to hang around the industry average.

Trading Platforms

4

As is the case with most, if not all, other serious brokerages out there, TradeFred provides clients with access to the MetaTrader 4 platform, which is what trading on the website is centred around.

The MT4 platform is the preferred platform of the majority of forex traders out there today and for a good reason. It has a comprehensive suite of charting and technical analysis tools that allow you to plan your trading strategy with precision.

If you don’t fancy downloading and setting up the MT4 platform on your chosen device, you can also use TradeFreds proprietary browser-based ‘TradeFred Webtrader’ which allows you to manage your account and execute traders no matter what the device or where you are located. This is an excellent alternative to the MT4 platform and is surprisingly feature-packed for propriety software.

Customer Service

4

TradeFred has customer support agents available in English, Arabic, and Russian through email or phone. Additionally, you can also send queries directly through the website. While they don’t have the hours that customer support is available posted on the site, they generally reflect standard working hours. Based on our extensive research online, customer reviews of TradeFred’s customer support seem to be reasonably positive. Some users appear to have had issues with somewhat slow response times to queries, although they do not seem any better or worse than similarly sized rivals.

Address: PathMagic Capital Limited, 6th Floor Steam Packet House, Cross Street, Manchester, United Kingdom, M2 4JG, United Kingdom

Phone: +44-1616670830