Tradefred is this a scam? Review and Customers Reviews

Tradefred is a young Forex and CFD broker with a whole host of advantages that are worth paying attention to. User friendly and functional platform, bonuses, regulation, no commissions for the capital deposit/withdrawal – all this, of course, attracts attention to the newbie broker of the market.

Still and all, is Tradefred a scam and deception or a reliable company, the purpose of which is to provide the customer with quality services, professional support, quick withdrawal of earnings, etc.? You will find the answers to these questions in the review of the Tradefred broker.

Tradefred trading conditions

Tradefred is a new name in the Forex market, a broker who has yet to conquer the audience of traders, to achieve success and take his position among other similar organizations. Having appeared on the market in 2016, he has already received two prestigious awards: UK Forex Awards 2018, ADVFN 2018. This speaks volumes and positively characterizes the company, which is already actively promoting its services, it has the first customers, and it has a service to which it is ready to attract their attention. In addition, today Tradefred is an official partner of the English football club Bolton.

Trade conditions of Tradefred:

• Minimum deposit: $250.
• Spread: 2.5-3 points (on EURUSD pair).
• Leverage: on currency pairs – 1:200, on other tools – up to 1:25/1:50.
• Different assets: currency pairs, gold, stocks, commodities, silver, etc.
• The minimum transaction volume is 0.01 lots.

The broker offers 5 account variants to choose from, from which it is easy to choose the most suitable one for Forex trading. The working conditions are the same: leverage is 1:50, the minimum volume of the bet is 0.01 lots, fast processing of requests for withdrawal – within 1 day, the ability to work with a personal manager, market analysis, signals. In order to open an account, you need to go to the site of the Tradefred broker, click «Join». At the first stage of registration a trader needs to specify a name, mailing address, phone number:

At the second stage, you need to enter information about your address, date of birth, trading experience, currency of your account (euro, pound, dollar, ruble), password to enter the system. On the third one financial information is filled in: amount of investment, education, sphere of work, type of employment, approximate amount of income. Then you should go through the verification procedure and start trading on the Forex market (full truth about Forex). The broker offers an option of social trading, which will allow the customer to earn more and provide passive profit to the investor. In order to reduce the risk of capital loss, the Tradefred broker’s website is testing traders. Only after successfully passing the test, they can work as managers.

Convenient statistics on managers is available in the terminal, it is designed in a compact widget. Having chosen a trader, you can study the information about his trades: see the graph of capital growth, the number of days in the system, the best and worst positions, etc. Information on traded assets and speculator’s positions is also given here. It is worth remembering that the system has many managers working according to the Martingale strategy, which can be seen in the chart of their profitability (image below). The curve shows growth, but the main time it moves horizontally. This strategy can steadily increase the trader’s capital, but in 1 day it can deprive him most of his income.

The website of the broker tradefred.com presents a lot of useful material. It has 3 language versions: English, Russian, Arabic. There are 4 sections with useful tools for the company’s customers:

• News. Reviews of major economic events (English).
• Free signals. Data are formed on the basis of charts, market activity, etc.
• Economic calendar of Investing.com with news.
• Market technical analysis (English).

The training sections of the Tradefred site should be studied: these are e-books with a description of the tools and the aspects of working with them (English), a big base of video tutorials, useful articles about trading, market analysis, etc.

Tradefred platform

The young Forex broker Tradefred is serious about the service, which offers its customer. Here you can work in the web platform SIRIX, which is a proprietary development of the company, which is able to easily make trading functional and convenient. The terminal does not need to be installed on your computer, you can start working immediately on the site. Among its advantages: the ability to change the scale of the chart and its type (bars, lines, candles), the choice of different orders, timeframes, in addition, the system has more than 50 available indicators, there are tools for graphical analysis (Fibonacci, ZigZag etc.).

Here you can also view the information of the widget with the statistics of traders available for copying transactions, trade «in one click», study the data of the economic calendar, read the materials of the training section. The terminal will be convenient for traders with any trading experience, including beginners. Note that it works in almost any browser (not tested in Internet Explorer). Tradefred also offers to work in the familiar to all traders terminal MetaTrader 4 – one of the most popular programs, which is trusted by market players around the world. Here you can perform a full technical analysis, use Expert Advisors, load indicators, test strategies, etc.

Tradefred broker quotations

The company cooperates only with reliable liquidity providers who provide their services to professional market participants: these are Swissqoute, FX SpotStream, Leverate, Credit Suisse, J.P. Morgan, Nomura. Thus, the traders of the broker can be sure that the platform provides up-to-date and accurate information about the value of assets.

Tradefred demo account

Tradefred does everything to make the trader comfortable working with him. By opening a free training account on the broker’s website, the user can get several advantages at once: he or she will be able to test the terminal’s functionality and options, write a support letter, conduct transactions in a real trading simulator, make sure that the broker is not a scam, but a serious organization, which is important to provide the user with a full-fledged product and high-quality service.

Demo account can be used only for 2 weeks, which is unprofitable for traders and limits their possibilities for work. Hopefully, there will be changes in this issue, as the market leaders give the opportunity to trade on the demo account without any restrictions, we can even say that the presence of a full demo account is a sign of the quality of the company, etc.

Tradefred mobile application

On the broker’s website tradefred.com you can also download a free mobile application of the platform (iOS, Android). After the quick installation of the program on your smartphone, the customer of the company gets the opportunity to work on the market at any convenient time and in any comfortable place. Thanks to this solution, you don’t have to be at home to trade on the market. The mobile application will always be close to the trader, will allow you to conduct transactions at any time, study the news, work with your personal account, withdraw money, etc.

Tradefred bonuses

Today the Tradefred broker offers for its customers 2 types of bonuses:

Cashback

Return in cash from 100 transactions. The special offer of the company allows traders to return up to 50% of the spread on transactions (regardless of the currency pair). Money transferred by the broker to the customer is available for trading and withdrawal. To get a cacheback, you need to open and close at least 100 orders in 3 months of work with the broker. The amount of return depends on the type of account. Money is automatically credited to the customer’s account on a quarterly basis.

Birthday cheque

Profitable offer for all traders of the company, who cooperate with it for more than 3 months and close quarterly from 25 trading transactions. The customer gets $25 to his account on his birthday. This money can be withdrawn from the platform or used in trading.

Deposit and withdrawal

For the time being the broker offers just four ways for deposit and withdrawal:

• Bank transfers.
• Credit and debit cards (Mastercard, Visa etc.).
• Skrill.
• Neteller.

This is, of course, inconvenient for modern traders, who are usually provided with a large list of options for transactions. Transfers are made quickly (1 working day), there are no commissions on transactions. Traders are also sent notifications about the progress of transactions.

Complaints against Tradefred

At the moment, you can read not so many references about Tradefred broker in the network. We have studied the feedback that is available online, and we can conclude that they are diverse, there are positive (professionalism of support managers, favorable conditions, a lot of tools, the availability of bonuses, educational materials, social trading options, etc.), and negative comments from traders (problems with withdrawal, limited use of the demo account, etc.).

Tradefred broker regulator

Tradefred is owned by MagicPath Capital Ltd, registered in Vanuatu and the UK. The company is regulated by Vanuatu Financial Services Commission, VFSC, which controls the activities of investment funds, brokers, etc. There is no information about the broker on the regulator’s website though, which cannot portray Tradefred in a sympathetic light.

Tradefred User agreement

Starting his work with the broker, the trader must make sure that he is reliable, whether he has a license, etc. In addition, it is important to understand how the company will behave in case of force majeure, how applications and complaints will be handled, what are the guarantees and obligations of the broker, etc. All this information can be read on the broker’s website in the document «User Agreement», but it can also be called differently by Tradefred as «Terms and Conditions». In addition, it should be understood that the company will act in accordance with the provisions of this document if any situation arises. Let’s see what is discussed in our broker’s «Terms and Conditions».

It is necessary to pay attention to the paragraph of the document on which the trader fully agrees that the broker will carry out execution of orders independently, without further investigation of the customer’s decision on the application. In this case, all responsibility for the losses incurred as a result of the order execution lies with the trader:

Moreover, the company will not be liable to the customer for any losses and losses arising during trading, etc. Thus, when placing transactions, the customer is fully responsible for his actions, including if the losses were caused by his lack of experience, negligence during trading, etc:

Is Tradefred a scam?

Tradefred is a young broker who has recently entered the trading market. This company offers its customers a well-thought-out service, favorable conditions, professional support, etc. It should be noted that although the broker, although only begins its work with the financial markets, but is already quite active, builds serious relationships with customers, has a license and prestigious awards (UK Forex Awards 2018, ADVFN 2018).

Among its obvious advantages: the availability of a terminal of its own design, which has all the necessary functionality to work in the market, will make trading functional, access to the usual MetaTrader 4, free mobile applications, social trading option, opportunities for training. Of course, development of one’s own software is a serious expenditure of money, which is not available to swindling brokers who come to the market to deceive traders.

Let’s note here also a fast conclusion, access to the economic calendar, current analytics and news, free signals, etc. The broker also has some obvious disadvantages that make it difficult to cooperate with him: it is still a lack of long-term experience in the market, a limited version of the demo account, a small choice of ways to conduct transactions, as well as a considerable deposit to start trading, etc. In the network you can study traders’ feedback about the broker, but it is impossible to make a clear conclusion that all comments are negative or positive. The company has only just started its work and time will show how serious its intentions are.

Should we call Tradefred a scam? Having studied the possibilities of a broker and its good start in the market, we can answer this question in the following way: no, it is too early to call Tradefred a scam, because it is just starting its activity, offers its users a lot of useful options, etc. As for the drawbacks indicated by us in this part of the review, we hope that it will eliminate them.

Summary

The young Forex and CFD broker Tradefred work not so long ago, but already draws attention as a promising organization. A well thought-out service, availability of regulation, bonuses, necessary for the work of the service, the terminal of its own development – all this indicates that the company is set to take a strong position in the market. The broker also has some obvious drawbacks, which, we hope, he plans to eliminate, at least because it will increase the attention of the interested audience to him.

Today we are not going to say for sure that Tradefred is a scam. However, we ask the traders working on the broker’s platform to leave their comments about it here, as it will allow to correct its position in the rating of Forex brokers, will warn users about possible problems of the company.