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Title

TradeFred Broker Review

Review By: Alan LittleReview Updated: 2021-02-22

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

forexstockscfdcryptosoc_tradspread_betcommodities

Spread

1.7

Max. Leverage

1:30

Deposit Protection

Investor Compensation fund up to $20,000

Min. Deposit

$250

Spread

1.65

Max. Leverage

1:20

Deposit Protection

Investor Compensation Fund up to $20,000

Min. Deposit

$250

Spread

1.7

Max. Leverage

1:20

Deposit Protection

Investor Compensation Fund up to $20,000

Min. Deposit

$250

Spread

1

Max. Leverage

1:30

Deposit Protection

Investor Compensation Fund up to $20,000

Min. Deposit

$250

TradeFred Social Trading

Spread

1.7

Max. Leverage

1:30

Deposit Protection

Investor Compensation Fund up to $20,000

Min. Deposit

$250

Spread

Max. Leverage

Deposit Protection

Min. Deposit

Spread

0.05

Max. Leverage

1:10

Deposit Protection

Investor Compensation Fund up to $20,000

Min. Deposit

$250

Our Overall Rating

Rating4

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.

Commissions & Fees

Rating

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.

Platforms & Tools

Rating

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.

TradeFred MT4 Platform

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.

TradeFred WebTrader

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

Rating

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.

Research

Rating

Ease of Use

Rating

Mobile Trading

Rating

Regulatory details

TradeFred is a brand name owned and operated by BrightFX Capital Limited (registration number HE356603), a Cyprus Investment Firm (CIF) that is authorized and regulated by the Cyprus Securities and Exchange Commission with licence number 342/17.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Trading Over-The-Counter (OTC) “Contracts for Difference” (CFDs) related to Commodities, Forex, Indices, Shares and Cryptocurrencies either with or without leverage carries a high level of risk and can result in the loss of all your investment. As such, it may not be suitable or appropriate for all investors, and you should not invest money you cannot afford to lose. Before deciding to trade, you should be aware of all the risks associated with OTC CFD trading and seek advice from an independent and suitably-licensed financial advisor. The information provided by BrightFX Capital Limited is general in nature and should not be interpreted as investment advice. Past performance or future forecasts do not constitute reliable indicators of future performance. Please click here for the Company’s full Risk Disclosure.

Final Thoughts

Overall, reviewers’ experiences of TradeFred has generally been pretty positive. The trading platform is as robust as you could hope for and trades appear to be executed relatively quickly. Although the variety of currency pairs isn’t as diverse as other platforms, for most users it should be more than enough. In the past, there were some questions about their regulatory status, although they seemed to have addressed this recently are now regulated by CySEC.

 

As such, if you are a novice or intermediate forex trader, TradeFred is a good trading platform to use to manage your investments, although more experienced users might prefer a more feature-packed platform with more competitive spreads.


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Ratings

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