Until not so long ago, TradeFred’s regulatory profile was not really a trust-inspiring one. The Forex/CFD brokerage was regulated by the VFSC of Vanuatu – not exactly the most prestigious financial authority. Recently though, news broke that the operator has managed to pick up its CySEC license, and with it, the right to legally peddle its services throughout the countries of the EEA. A ASIC regulatory license has also been acquired which further shows that TradeFred are serious in their forex business.
Before the securing of its CySEC license, TradeFred’s position in the market was not a particularly enviable one. The brokerage could not serve clients in the EU, the US, Australia, New Zealand, and a number of other jurisdictions. Its headquarters located in Manchester, the operator had clearly aimed to snuggle up to CySEC. Now, with MiFID compliance under its belt, TradeFred is apparently looking to pick up an FCA license as well. A long story short: things are indeed looking up for the operator on the regulatory front.
TradeFred is apparently a sort of trading-focused offshoot of the BetFred Group – at least that’s what the site suggests right above the footer, where it states that the operation is “powered by the Betfred Group”. Obviously, there has to be something to this claim, otherwise it wouldn’t be featured at the site. Needless to say, being linked to BetFred is a tremendous credibility-boost for the operation.
As said above, TradeFred is focused on Forex and CFD trading. In this regard, they have a pretty attractive offer going, While their spreads are fixed, they are claimed to be very competitive regardless.
The Forex section of the brokerage features the richest tradable asset selection, and quite possibly: the best trading conditions. There are almost 50 currency pairs available here, covering the majors as well as the exotics. The maximum leverage one can use on Forex pairs is 1:500. Most currency pairs can be traded around the clock. For the time being, there are no cryptocurrency CFDs offered at TradeFred.
The Stocks section is the most restrictive in regards to leverage: traders are only allowed to use 1:10 at most. The asset selection within this section is as generous though as it is in the Forex one.
Precious metals-wise, we have two tradable assets: Silver and Gold. Platinum is available too, but unlike these two assets, it has been included in the commodities section. The maximum leverage on precious metals is 1:25.
The Energies category plays host to Natural Gas, Light Sweet Crude Oil and Brent Crude Oil. The maximum leverage is 1:25 on these assets too. The spreads are said to be outstanding.
The Commodities category covers a wide range of assets, such as Coffee, Cocoa, Corn, Soybeans, Wheat and yes, even Platinum. The trading conditions on these assets are the same as described above, with a maximum available leverage of 1:25.
While the leverage is not particularly impressive, it should still allow a decent maneuvering-room for beginners. Advanced traders may scoff at it though.
Like every serious and solid online brokerage, TradeFred have based their trading platform-offer on the good-old MT4. MT4 is indeed the gold standard in this regard. The Desktop Trader offered for download by TradeFred is fully featured and it delivers an unparalleled charting- and technical analysis-package. Scores of time frames are available and traders can use a variety of drawing tools to make heads and tails of the charts. Charts can be fully customized and chart templates can be saved.
Technical analysis-wise, there are more than 50 pre-installed indicators available, and traders are always free to install more. MT4 offers some advanced features too, which allow for the creation and running of automated trading solutions called EAs (Expert Advisors). Whether TradeFred support such features (like VPS for the EAs) is unclear at this point. The broker’s Desktop trader supports the trading of Forex and CFDs on the same screen.
The Webtrader is for those unwilling or unable to download and install anything on their devices. The Webtrader supposedly delivers all the benefits of MT4, yet it can be accessed from any computer, at any time, from all over the world.
The Mobile Trader is meant to accomplish the same feat. It is compatible with all Android- and iOS-based mobile devices. It offers full account management, interactive trading charts and trading history. The TradeFred mobile trader can be downloaded from the AppStore, or the Google Play Store.
In this regard, TradeFred have brought an impressive offer to the table. The brokerage offers a free Demo account, which traders can use to put the platforms to the test, without having to risk any real money. The Demo account comes loaded with $10,000 in virtual funds. This virtual money can be thrown around for 2 weeks, after which the Demo account expires. Following its expiry, it cannot be revived in any shape or form.
The Basic Account is the best option for recreational traders/beginners, following the demise of their Demo accounts. The minimum required deposit on this account is $250. Besides access to all the supported tradable assets, the Basic Account delivers a dedicated Account Manager too, as well as educational material.
The Standard Account takes the game to a slightly higher, yet still accessible level: featuring a minimum deposit requirement of $500, this account offers market analysis too. One business-day withdrawals are available here as well.
The Advanced Account kicks things into an even higher gear, perks-wise too. having deposited a minimum of $1,000, Advanced Account users are offered access to free trading signals and mobile-delivered trading alerts.
The $5,000 Pro Account tinkers with the spreads too, offering its users superior trading conditions. The services of a specialist market analyst are also available here.
The Premium Account takes up the spot at the top of the TradeFred account-ladder. This one covers all the above-said, and it is a zero-swap account.
Another option for a zero-swap account is available to those of the Islamic faith. The Islamic trading account is a commission-free, zero-swap setup, which features the services of a specialist Islamic account manager. Those who opt for the Islamic trading account, can choose from all the above-described account-types, based on the amount of money they deposit.
Deposit and Withdrawal Options
TradeFred support deposits and withdrawals done through various Debit/Credit cards, Qiwi and WebMoney. Money lands in trader accounts instantaneously through all these methods. Bank Transfers and broker-to-broker transfers are supported as well, though deposits made through these methods take 3-5 business days to settle in trader accounts.
In all cases and through all the above said methods, withdrawals take 1 business day to process. This refers only to the internal processing time at TradeFred. Funds may be delayed at other points in the transfer chain.
TradeFred is shaping up as a very solid trading destination for beginners and advanced traders alike. Their zero-swap accounts, coupled with the reduced spreads, offer some superb trading conditions for those who can afford the required deposits. The Basic and Standard accounts serve the needs of recreational traders/beginners wonderfully. The trading platforms are great, and now regulation is on point as well.
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