de | cn | ru

Tradefred Review - Is it scam or safe?

Tradefred Review - is tradefred.com scam or good forex broker?

RATING: 3 / 7 REVIEWS Tradefred
FIND BETTER FOREX BROKER

RECOMMENDED FOREX BROKERS


Trading Accounts

 

Account type 

Minimum deposit 

Maximum leverage

Spread

Basic

$100

1:50

Fixed from 3.0 pips

Standard

$500

1:50

Fixed from 2.0 pips

VIP

$5 000

1:50

Fixed from 2.0 pips

 

Tradefred is a forex broker, which offers three account types to its clients. The company also provides an Islamic swap-free account.

 

The Company. Security of Funds

 

Company

Country

Regulation

BrightFX Capital Limited 

Cyprus

CySEC

 

Previously, Tradefred was owned by MagicPath Capital Ltd, a company registered in Vanuatu and regulated by the local watchdog - the Vanuatu Financial Services Commission (VFSC). Currently, however, the broker is operated by BrightFX Capital Limited, a company that is licensed by the Cyprus Securities and Exchange Commission (CySEC).

 

Due to its well-balanced financial regulation, rather favorable tax regime and well-developed technology sector, Cyprus is currently one of the most popular forex broker centers. On top of that, this sunny island is a part of the EU family. Accordingly, each broker regulated in Cyprus can operate in any country that is a member of the EU or the EEA.

 

In addition, there is the Investor Compensation Fund, which can pay compensation up to €20,000 EUR per person, if a regulated becomes insolvent.

 

In order to be able to operate as investment firms and benefit from the above-listed rules, forex brokers licensed by CySEC are required to maintain a certain capital (EUR 730 000), keep client funds in segregated accounts, regularly reports transactions to the Commission and also comply with other regulation.

 

Besides, there are two more things that raise the Tradefred’ credibility. First, the broker is powered by the Betfred group – a reputable bookmaker (sports betting company), regulated in the UK. And second, Tradefred claims to offer Negative balance protection for all its account types.

 

Trading Conditions

 

Minimum Initial Deposit

Tradefred requires an initial deposit of at least $100. This is an average amount to start with in the current industry state. However, other Cypriot brokers, like FXTM, require less (only $5). Do not forget, this should not bother you as much as other factors, when comparing brokers. In order to survive in the dynamic financial markets, you must have sufficient capital and stringent risk management.

 

Average spreads & Commissions

Tradefred offers fixed spreads, starting from 3.0 pips on EUR/USD, which is considerably above the industry average at the moment, with some brokers offering even better conditions. As an example, the fixed spread on this pair at FxPro is 1.6 pips, although they also offer floating spreads which are usually even tighter.

 

Leverage

The maximum leverage at Tradefred is 1:50. This is relatively low, in comparison to other brokers.


 
As you may know, trading with high leverage carries significant risk for your capital. This is one of the reasons why US regulators have set a limit on the maximum leverage, brokers can offer to retail clients are 1:50.

 

Trading Platforms

 

Tradefred provides its clients with MetaTrader 4 (MT4) and a web-based platform. As far as MT4 goes, it has withstood the test of time pretty well. The rather old platform is a fan favorite, with its custom indicators and automated systems. The simplicity, combined with great analytical potential make it a prime choice for many brokerages.



When it comes to the web based platform, we got it running for the purposes of this review. It looks like Sirix web, with built in Social stream. Here is a preview:

 

 

Methods of Payment

 

There are several deposit and withdrawal methods at Tradefred. They are: Bank Transfer, Credit/Debit Card, Broker to Broker transfer, WebMoney and Qiwi. Keep in mind bank transfers and broker to broker transfers may take quite some time to get through.

 

Conclusion

 

Tradefred is a forex broker and market maker affiliated with the famous sports-betting company Betfred. It is licensed by CySEC, offers its services on two trading platforms and claims to provide negative balance protection. However, its spreads are too wide and some may find the leverage levels insufficient. Here is a list of this broker’s pros and cons:

 

 Pros

 Cons

 CySEC license, backed by bookmaking giant Betfred

 High fixed spreads

 Negative balance protection

 Low leverage levels

 MetaTrader 4, Sirix web platforms available

 Market maker model

 

 

 

Latest news about Tradefred
No news about Tradefred. Check back later.
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
UK, Bulgaria FCA, FSC Web €29 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website
UK, Cyprus, Dubai FCA, CySEC, DFSA MT4, MT5, Web,
PrimeTrader
$100 Review Website

Traders` reviews for Tradefred

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

not happy

I have been trying to with draw my money for over a week. Their customer support has replied once to my 6 e-mails, for them to ring me. I have even asked them ,and the person I had contact with, one DAN WEISS, if they had scammed me. Again they have not answered my e-mail, leaving me to assume I have been.
I have been in contact with Cyprus FOS, and reported them to a fraud company.

Philip Tunnacliffe 09/14/2019

Account login

Hi,I would like to know why every time I try to login,it says the account with this bu doesn't exist... Please check for me.my account is :1300475220

Thabang 05/03/2019

SCAM

I invested £5000 with them and after good initial results, I was talked into investing more and more, after about 4 weeks calls stopped to me and then a 'new' client manager phoned me trying to get more invested. When I asked what my current balance was I was told just over £1000 so I had lost over £20,000. He said sorry but if I invested more we could turn it round. I am a pensioner and am distraught that this can happen, please warn everyone about this company

Paul Brook 04/12/2019

Can’t get my money back

Only joined a month ago but could not supply them with all information they needed (utility bills etc.) after many text messages and emails they don’t seem to want to refund my £250 deposit could not recommend them !

Trevor Graham Rimington 02/07/2019

Scam

Trying to withdraw since November 2018 and have been unsuccessful to date. No feedback and poor excuses

Melanie 01/23/2019

Tradefred dangerous

Tavsiye üzerine 5 bin dolarlık robot hesap açtım bir gün sabah hesabımın içinin boşaltıldığını gördüm hiç bir yeykiliye ulaşamıyorum hesabım içinin boşaltıldığını gördüm hiç bir hak iddia edemezsin dediler TRADEFRED firmasından uzak durun benim canım yandı sizinki yanmasın

Translated by Google:

I opened a $ 5 thousand robot account on the day I've seen a day in my account was emptied in the account can not reach a yeykiliye account for my account is emptied I can not claim a right away from TRADEFRED company my burned burned yours

Ayşegül MERT 01/17/2019

Tradefred Withdrawal

Hi... I requested a withdrawal of $250 From TradeFred on the 22nd of October and after days of calling them and begging for my money... They only approved the request on the 31st and till this day(7 November)... I haven't received my money

Please help

Katlego Maphoto 11/07/2018
de | cn | ru