FreshForex is not a small or new offshore broker. With more than 330,000 visitors in December 2022 on its various websites, the forex and CFD broker founded in 2012 belongs to the top league. The operator is reportedly the St. Vincent & The Grenadines registered entity Riston Capital Ltd. Most visitors to the website in the last three months came from Bangladesh, France and Russia. FreshForex has a special focus on clients from Russia for several dedicated Russian language websites have been set up.
Key Data
| Trading name | FreshForex |
| Business activity | Forex and CFD broker |
| Domain | https://freshforex.com https://freshforex.org https://freshfx-id.com https://myfreshforex.com https://fx-online.org |
| Social media | LinkedIn, Twitter |
| Legal entities | Riston Capital Ltd (est. 2012) |
| Corporate agent | Wilfred Services Ltd |
| Jurisdictions | St. Vincent & The Grenadines |
| Authorization | No |
| Leverage | up to 1:2,000 |
| Contact data | +44 2070992124 |
| Payment options | Credit/debit card, bank wire, crypto e-wallets |
| Payment processors | Mercuryo, Perfect Money, Neteller Skrill, Fasapay, Advcash, Webmoney |
Short Narrative
As payment processors, we have discovered the usual suspects for offshore brokers. Credit/debit cards are processed via Mercuyo. In case of deposits via credit card, FreshForex clients actually buy Bitcoins via Mercuryo and they are transferred to FreshForex afterwards. This way FreshForex also avoids chargebacks. Clients have no chance to get their money back here.
In addition, there are Perfect Money or Advcash, which are also controlled by Russians. But Neteller and Skrill are also available, as well as deposit via crypto.
We do not think that FreshForex is necessarily a scam. However, it operates without the required authorization and also offers pre-KYC deposits and leverage of up to 1:2000. Both of these violate regulatory requirements in most regulatory regimes.
In addition, with FreshForex there is no information about the operators or beneficial owners on the website. There are also no links to social media protocols. This is simply a dubious approach. Finally, the Mercuryo approach to avoid chargebacks is speaking against the broker.
Clients of offshore brokers are not entitled to investor protection schemes or the assistance of Financial Ombudsman Services. We therefore strongly recommend avoiding offshore brokers such as FreshForex.
Share Information
If you have any information about FreshForex, its operators or facilitators, please share it with us through our whistleblower system Whistle42.
