Review – 5 things you should know about Freedom-Finances Review – 5 things you should know about Freedom-Finances

Rating: 1

Beware! is an offshore broker! Your investment may be at risk.


Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


We advise you to think carefully before depositing your money with a shady broker like There is not one element of this broker’s whole offer that speaks of their credibility – read the review below to find out more. We are sure you would never even consider turning to this broker for investing once you have. REGULATION AND SAFETY OF FUNDS is an anonymous broker – they have not provided any address or license information, or any specific company data. You will find nothing other than empty boasting about the broker being a company who serves millions and that has gained “an extraordinary level of expertise on Forex trading because of the experience and by adopting the latest techniques and technologies in trading online”. We would find it hard to trust such a company with our money – we know nothing about and they obviously want to keep it that way. How the broker thinks anyone would want to trust it is a mystery – it is evident that this is an unlicensed scam broker who is only after people’s money. There is not one thing about that speaks of the contrary.

Our advice is to turn to a reputable broker licensed by the FCA (the UK) or a trusted EU authority like the Cypriot regulator CySEC. Such brokers are never anonymous and usually provide a lot of information about themselves and the people behind them as well as transaction reports. Client money must be kept in segregated bank accounts as a means of promoting transparency and speeding up withdrawals. It also means that in case the broker goes bankrupt, your money will still be kept safe. EU and UK brokers also participate in compensation schemes which means you could receive a certain compensation if your broker becomes insolvent – up to €20 000 in the EU and £85 000 in the UK. Negative balance protection is mandatory and you could never lose more money than you have in your account. Minimum capital requirements are also important –  all UK and EU licensed brokers to have to prove their financial stability by maintaining a minimum capital of €730 000 in the UK, and the EU.

As you can see licensed brokers provide many protections as well as a safe, transparent trading environment – which is far more than what scammers like can say. TRADING SOFTWARE offers a simplistic web-based trading platform:

And although such straightforward, uncomplicated trading platforms might seem like a tempting option for beginners, we would advise you to start your trading journey on a platform that actually has some sort of additional useful tools and features to offer. You would indeed be able to trade on the software you see above and you would be able to employ some basic indicators and charting tools but you would not be able to do much more than that.

Our advice is to check out MetaTrader 5 instead – you will quickly understand why this efficient, accessible platform is currently the most popular in the world of trading. You would not only have full access to a full charting and analysis package – 38 indicators, 21 timeframes, and 3 chart types – but also be offered a wide variety of additional tools. You could use Expert Advisors to track markets and trade automatically, create custom scripts, employ a multi-threaded Strategy Tester, or use both a hedging and a netting option, exchange strategies with others in a community chat, set signals and subscribe to those set by other successful traders, and so much more. Do not hesitate to try out the platform as soon as possible. TRADING CONDITIONS offers three different account types – in order to become a client of the broker, you would have to be willing to invest at least $250. This is not an outrageous amount of money but there are far better brokers who offer trading accounts for under $100.

We could not get access to some sort of leverage settings and see what leverage we were trading with – however, claims that it offers leverage of between 1:100 and 1:400 depending on the account type you choose. A possibility of trading with lower leverage was, however, not mentioned. This is bothersome since trading with such high leverage could possibly result in enormous losses – that is why so many countries have imposed some sort of leverage restrictions. US brokers are not allowed to offer anything higher than 1:50 on forex majors while those in the UK, the EU, and Australia can go up to 1:30. Even lower rates exist in some other countries. claims of leverage of up to 1:400 prove for a fact that this broker could not be licensed in one of the top jurisdictions we mentioned. Trading with high leverage can indeed result in bigger profits as long as the broker is decent – but you have to know how to work with it and be willing to take a risk.

The spreads we got on were around 0.3 pips on EURUSD – or in other words almost impossibly tight. Such great spreads could turn out to be very lucrative for the client because they mean that the broker is barely charging you anything throw mark-up – however, has not mentioned anything about its commissions. Those could potentially turn out to be huge – even if we ignore the fact that such scam brokers often manipulate platforms so they show the results the broker wants them to show. DEPOSIT/WITHDRAWAL METHODS AND FEES would not allow us to make a deposit before our account was verified – that is why we can only rely on the information in the Terms and Conditions when it comes to possible deposit methods. There, the broker says that it only accepts deposits made via wire transfer and credit or debit – two completely legitimate payment methods. However, the charges on both of those are huge – $50 for wire transfers and $25 for cards plus a processing fee of $10. An additional 10% of the withdrawn amount would be charged on accounts that have not been verified or reached 200 times turnover. The same conditions apply to refunds.

No legitimate broker would ask you to reach a certain turnover before you could withdraw money without being charged additional fees – most legitimate brokers would not allow withdrawals as a whole before you have verified your account and they are completely sure who you are.

We also found the following peculiar clause regarding deposits and withdrawals:

It is weird for a broker to execute withdrawals via a different payment method than you have used to withdraw – in fact, it is not compliant with the laws that exist in many jurisdictions. But who knows what sort of agenda this broker has.

There is also a dormant account fee – 10% of the money in your account after 6 months of no trading activity. Some brokers do not even charge such fees but even if they do, they are far more specific and rarely measured in percentages. 10% of the money in your account might turn out to be a huge amount of money.

Finally, offers welcome bonuses of varying sizes – between 5% and 15%. But to withdraw those bonuses or any profits that were the result of those bonuses, you would have to reach a minimum trading volume of 25 times the deposited amount plus the bonus.

First of all, no legitimate broker would make such a distinguishment between types of profits – nobody could say which money certain profits were the result in. Such brokers tend to change their terms often – so you might end up having to reach higher and higher requirements in order to withdraw the bonus and profits. Moreover, those requirements might change in other ways – for example, they might also start including your own deposits. Be careful when such shady brokers offer you “free money” – you would most certainly be asked to meet some impossible conditions.


Scam brokers are becoming more and more of a constant feature in the world of financial frauds – which means that more and more people are losing their hard-earned money by depositing it with such unreliable companies. We advise readers to always turn to licensed enterprises and thoroughly check registers. Let’s take a look at how such scams usually work and how you can protect yourself from them.

You stumble upon a broker who seems to offer fast, effortless, sometimes guaranteed profits – and decide that there is no harm in opening an account with it to see what it has to offer. After all, you have heard stories of people earning a decent income by trading – why not be one of them. You would not have to deposit, not immediately. But the moment you provide the broker with your phone or email, they would not leave you alone before you do so. You will be promised all sorts of great things – after all, these are people who scam people for a living and who are well-accustomed to convincing. The initial deposit might not be big – but you would be asked for more and more money with time. In some cases, you might even see that money grow – but that is nothing more than a trick that usually involves some sort of platform manipulation.

A time will come though when you will want to withdraw money – and you would not be allowed to do so. The broker will claim that you have not fulfilled a clause in the Terms and Conditions, that there are additional taxes, and that you are obligated to wait a certain time before withdrawing. At this point, you will understand that you are being scammed – but the broker will disappear as soon as they discover they can no longer milk you.


The first thing you should do is change all your banking passwords, and uninstall any remote access software (if you have installed any). After all, you would not want the scammers to have any sort of access to your bank account so they could drain it.

Do not trust any so-called “recovery agencies” who ask you to pay a fee so they could track down the broker and retrieve your money – this is a whole other type of scam targeting desperate people. What you should do instead is inform the actual financial authorities, and look into chargeback options – both Visa and MasterCard, for example, battle scams by allowing chargebacks within 540 days of the transaction.

One final thing – it is important to share your story with as many people as possible. The more people know about this sort of scam, the fewer people will fall victim to it. Unfortunately, such stories rarely get a happy ending – which is why prevention is key.

Top Forex Brokers

BrokerCountryRatingMin. DepositWebsite
US4.99/5$50 Click for a special offerWebsite
UK, Cyprus, Belize4.94/5$5 Click for a special offerWebsite
Australia, Cyprus4.93/5$100 Click for a special offerWebsite
Cyprus, SVG4.8/5$100 Click for a special offerWebsite
Cyprus4.75/5$100 Click for a special offerWebsite
New Zealand4.65/5$1 Click for a special offerWebsite

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