FreshForex, an offshore forex broker, said on Wednesday it has reduced by three times the spreads on select contracts for difference (CFDs) on energies – UK and US oil and gas. The new conditions apply for all three trading accounts the broker offers.
The broker offers three types of trading accounts – Classic, Market Pro, and ECN. For Classic accounts spreads are fixed, starting from 0.007 pips for gas and 0.07 pips and 0.09 pips for WTI and Brent oil, respectively. For Market Pro and ECN accounts which have floating spreads, the levels are even lower.
Spreads are used to measure the difference between the bid and the ask price. Although they are not the only factor, low spreads mean traders will pay less transaction-related costs.
In addition to energy CFDs, it also offers online trading in forex, binary options, and CFDs on metals, stocks and indices, as well as analytical, educational, and training services.
In the recent months, FreshForex has been regularly improving its offering and conditions. In April, it fully switched to market execution mode across all accounts. Earlier this month, it launched a binary options trading service under the brand FreshOptions and released the first forex trading service via messaging application Telegram, using its Easy bot software.
FreshForex is a brand of Riston Capital, an investment company based in St. Vincent and the Grenadines. It is a member of Russia’s commission for the regulation of relations on financial market, KROUFR.