Global Broker Regulation & Inquiry App

Score

0123456789
.
0123456789
0123456789
/10

FREEDOM FINANCE

China|2-5 years|
Suspicious Scope of Business|High potential risk|

https://freedom-fin.com/

Website

Rating Index

Contact

+1 613-515-3664
https://freedom-fin.com/

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+1 613-515-3664

Broker Information

More

Company Name

FREEDOM FINANCE

Company Abbreviation

FREEDOM FINANCE

Platform registered country and region

China

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 2
Previous Detection : 2024-05-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Users who viewed FREEDOM FINANCE also viewed..

XM

9.04
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

GTC

8.34
Score
10-15 yearsRegulated in United KingdomStraight Through Processing(STP)MT4 Full License
Official website

AUS GLOBAL

7.54
Score
5-10 yearsRegulated in CyprusMarket Making(MM)MT4 Full License
Official website

FBS

8.75
Score
5-10 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

FREEDOM FINANCE · Company Summary

Aspect Information
Company Name FREEDOM FINANCE
Registered Country/Area China
Founded Year 2017
Regulation Unregulated
Market Instruments Stocks, ETFs, Futures, Options, CFDs
Account Types BUSINESS, PREMIUM, BASIC
Minimum Deposit $250
Maximum Leverage 1:100
Spreads Starting from 0.0 pips
Trading Platforms MetaTrader 4 (MT4), Utip
Customer Support Phone number: +1 613-515-3664
Deposit & Withdrawal Bank transfer, Visa, Mastercard
Educational Resources Lack of comprehensive educational resources

Overview of FREEDOM FINANCE

Founded in China in 2017, FREEDOM FINANCE offers a diverse range of trading assets, including stocks, ETFs, futures, options, and CFDs across global markets. With three distinct account types, the platform caters to various trader needs, providing flexibility in minimum deposits, leverage, and instruments. While competitive spreads and commission structures enhance cost-effective trading, the absence of regulatory oversight poses potential risks. The choice between MetaTrader 4 and proprietary platform Utip offers diverse trading experiences. Subpar customer support, limited contact options, and an inaccessible official website contribute to the platform's disadvantages.

Overview of FREEDOM FINANCE

Is FREEDOM FINANCE legit or a scam?

FREEDOM FINANCE operates without regulatory oversight, posing potential risks for traders. The absence of supervision from any financial authority means there is no external entity ensuring fair practices, transparency, or investor protection. Engaging with an unregulated platform like FREEDOM FINANCE entails heightened vulnerability to fraudulent activities and a potential lack of mechanisms for dispute resolution. Traders should exercise caution, as the absence of regulatory scrutiny leaves room for uncertainties and a potential lack of accountability, highlighting the importance of choosing platforms with regulatory adherence for enhanced security and trust.

Pros and Cons

Pros Cons
Diverse range of trading assets Operates without regulatory oversight
Three distinct account types catering to different trader needs Subpar customer support with limited contact options and slow response times
Competitive spreads and commission structures Lack of comprehensive educational resources
Choice between MetaTrader 4 (MT4) and proprietary platform Utip The official website may be inaccessible

Pros:

  1. Diverse Range of Trading Assets:

  • Freedom Finance offers a wide variety of trading assets, including stocks, ETFs, futures, options, and CFDs across various global markets.

2. Three Distinct Account Types:

  • Freedom Finance provides three distinct account types (BUSINESS, PREMIUM, and BASIC) catering to different trader needs.

3. Competitive Spreads and Commission Structures:

  • The platform offers competitive spreads and commission structures across all account types. This contributes to a cost-effective trading environment for users.

4. Choice Between MetaTrader 4 (MT4) and Utip:

  • Freedom Finance provides users with the choice between MetaTrader 4 (MT4) and their proprietary platform, Utip. MT4 is widely adopted and offers advanced charting tools, algorithmic trading support, and a large user community.

Cons:

  1. Operates Without Regulatory Oversight:

  • Freedom Finance operates without regulatory oversight, posing potential risks for traders. The absence of supervision from any financial authority means there is no external entity ensuring fair practices, transparency, or investor protection.

2. Subpar Customer Support:

  • Customer support at Freedom Finance is marked by instability, with limited contact options and slow response times. The provided phone number (+1 613-515-3664) serves as the primary contact, reflecting a potentially unreliable communication channel.

3. Lack of Comprehensive Educational Resources:

  • Freedom Finance lacks comprehensive educational resources for its users. This absence of educational support can be a significant limitation for both beginners and experienced traders.

4. The Official Website May Be Inaccessible:

  • There is a potential issue with the accessibility of the official Freedom Finance website. This may cause inconvenience for users who rely on the website for account management, market analysis, and other essential functions.

Market Instruments

Freedom Finance provides a diverse range of trading assets, catering to the preferences and strategies of investors.

Stocks: Traders can access a comprehensive selection of stocks from over 50 countries. This expansive offering allows investors to engage in equity trading across various international markets, capitalizing on global investment opportunities.

ETFs: Freedom Finance extends its reach to Exchange-Traded Funds (ETFs) from over 20 countries. ETFs provide a versatile investment option, offering exposure to diversified portfolios of assets, including stocks, bonds, or commodities.

Futures: The platform facilitates trading in a variety of futures contracts, encompassing commodities, currencies, and indices. Futures trading enables investors to speculate on the future price movements of these assets, providing potential opportunities for profit.

Options: Freedom Finance includes options trading in its repertoire, covering stock options, index options, and commodity options. Options offer investors the flexibility to hedge against risks or engage in strategic trading based on anticipated market movements.

CFDs: Traders can explore Contracts for Difference (CFDs) in various asset classes, including stocks, ETFs, futures, and currencies. CFDs enable investors to speculate on price changes without owning the underlying asset, allowing for potential profit in both rising and falling markets.

With this array of trading instruments, Freedom Finance aims to provide a comprehensive and diversified trading experience for its users.

Market Instruments

Account Types

Freedom Finance caters to diverse trader needs through its three distinct account types.

BUSINESS Account:

The BUSINESS account at Freedom Finance is tailored for seasoned traders, offering a maximum leverage of 1:100. With a minimum deposit requirement of $25,000, this account provides access to a competitive trading environment. The minimum spread starts from 0.0 pips, ensuring cost-effective trading. The commission structure for the BUSINESS account ranges from 0.005% to 0.002%, offering transparency in transaction costs. Traders opting for the BUSINESS account gain access to a diverse range of financial products, including stocks, ETFs, futures, options, CFDs, and bonds. Supported currencies include USD, EUR, GBP, JPY, CHF, AUD, and CAD. Furthermore, the BUSINESS account supports all types of Expert Advisors (EA), facilitating automated trading strategies.

PREMIUM Account:

The PREMIUM account is designed to cater to traders with varying experience levels, providing accessibility with a minimum deposit of $2,500. Offering a maximum leverage of 1:100, the PREMIUM account maintains a competitive trading environment with a minimum spread starting from 0.0 pips. The commission, typically around 0.008% per trade, ensures a transparent cost structure. Similar to the BUSINESS account, the PREMIUM account encompasses a diverse set of financial products, including stocks, ETFs, futures, options, CFDs, and bonds. Supported currencies comprise USD, EUR, GBP, JPY, CHF, AUD, and CAD. The PREMIUM account is compatible with most Expert Advisors (EA), enhancing automation capabilities for traders.

BASIC Account:

The BASIC account is tailored for those entering the trading arena with a more conservative budget. With a minimal deposit requirement of $250, the BASIC account offers an accessible entry point. The maximum leverage is set at 1:100, providing flexibility in position sizing. The minimum spread starting from 0.0 pips contributes to a cost-effective trading environment. The commission structure for the BASIC account is straightforward, with 0.01% applying to all trades. While the BASIC account supports a variety of financial products, including stocks, ETFs, options, and CFDs, it is more streamlined compared to higher-tier accounts. Supported currencies include USD, EUR, and GBP. The BASIC account has limited support for Expert Advisors (EA), making it suitable for those seeking simplicity in their trading approach.

Account Type BUSINESS PREMIUM BASIC
Maximum Leverage 1:100 1:100 1:100
Minimum Deposit $25,000 $2,500 $250
Minimum Spread Starting from 0.0 pips Starting from 0.0 pips Starting from 0.0 pips
Commission Ranging from 0.005% to 0.002% typically around 0.008% per trade. 0.01% applies to all trades
Products Stocks, ETFs, Futures, Options, CFDs, Bonds Stocks, ETFs, Futures, Options, CFDs, Bonds Stocks, ETFs, Options, CFDs
Currency USD, EUR, GBP, JPY, CHF, AUD, CAD USD, EUR, GBP, JPY, CHF, AUD, CAD USD, EUR, GBP
Supported EA All Most Limited

How to Open an Account?

Here is a generic guideline for opening an account with Freedom Finance:

  1. Visit Freedom Finance Website:

    1. Open your web browser and go to the official Freedom Finance website.

2. Choose Account Type:

  • Explore the available account types (BUSINESS, PREMIUM, BASIC) and select the one that aligns with your trading preferences and budget.

3. Fill out the Online Registration Form:

  • Locate the “Open an Account” on the website.

  • Complete the online registration form with accurate personal information, including your name, contact details, and a valid email address.

4. Submit Verification Documents:

  • After submitting the registration form, you may need to undergo a verification process.

  • Freedom Finance might request documents such as a government-issued ID, proof of address, and financial statements to verify your identity.

Please note that specific steps and document requirements may vary, and it's crucial to carefully follow the instructions provided by Freedom Finance during the account opening process. Additionally, be aware of the platform's features, trading tools, and terms and conditions to make the most of your trading experience.

How to Open an Account?

Leverage

Freedom Finance offers leverage up to 1:100. Leverage allows you to control a larger position with a smaller deposit. However, it is important to use leverage responsibly, as it can amplify your losses as well as your profits.

Spreads & Commissions

Freedom Finance provides competitive spreads and commission structures across its range of account types. The BUSINESS Account, PREMIUM Account, and BASIC Account all offer attractive starting spreads from 0.0 pips, emphasizing the platform's commitment to providing cost-effective trading options for its users.

In terms of commissions, the BASIC Account incurs a commission of 0.01% on all trades, with a minimum commission set at $2. This fee structure makes the BASIC Account suitable for traders who prefer a straightforward commission model with a fixed minimum charge. The PREMIUM Account, offering slightly lower commission fees at around 0.008% per trade, caters to traders seeking a more cost-efficient option compared to the BASIC Account.

The BUSINESS Account stands out with the most favorable commission rates, ranging from 0.005% to 0.002%, depending on the traded volume and asset class. This makes the BUSINESS Account particularly appealing to high-volume traders and those dealing with various asset classes, as the lower commission rates contribute to reduced trading costs.

Account Type BUSINESS PREMIUM BASIC
Minimum Spread Starting from 0.0 pips Starting from 0.0 pips Starting from 0.0 pips
Commission Ranging from 0.005% to 0.002% typically around 0.008% per trade. 0.01% applies to all trades

Trading Platform

Freedom Finance offers a choice between two robust trading platforms: the widely recognized MetaTrader 4 (MT4) and their proprietary platform, Utip. Both platforms grant users access to an extensive array of financial instruments, including stocks, ETFs, futures, options, and CFDs across diverse global markets.

MetaTrader 4 (MT4) is widely adopted and familiar to many traders, offering advanced charting tools, sophisticated technical analysis capabilities, and support for algorithmic trading through Expert Advisors (EAs). However, its user interface may appear dated compared to more modern platforms, and customization options are relatively limited compared to Utip. Additionally, certain features may require additional plugins.

Trading Platform

Utip, on the other hand, boasts a modern and user-friendly interface with a highly customizable workspace. It integrates social trading tools and community features, offers advanced order types and robust risk management tools, and provides news and analytics directly within the platform. However, being a relatively new platform, Utip has a smaller community compared to MT4, and it may lack some advanced features available in the more established platform. Additionally, its library of third-party plugins and Expert Advisors (EAs) is less extensive.

Deposit & Withdrawal

Freedom Finance accepts the following payment methods:

  • Bank transfer: This is a secure and reliable method for large deposits and is available for all account types. Processing times generally range from 1-3 business days.

  • Visa and Mastercard: Credit and debit cards offer convenient and instant deposits, but may incur additional fees depending on your issuing bank.

The minimum deposit required for each account type is as follows:

  • BUSINESS: $25,000

  • PREMIUM: $2,500

  • BASIC: $250

The processing time for deposits varies depending on the chosen method:

  • Bank transfer: 1-3 business days

  • Visa and Mastercard: Instant

Withdrawal processing times typically take 1-3 business days, depending on the chosen method.

Deposit & Withdrawal

Customer Support

Freedom Finance's customer support is notably lacking, marked by instability in contact avenues.

The provided phone number, +1 613-515-3664, serves as the primary contact, reflecting a limited and potentially unreliable communication channel. The absence of a dedicated support portal or live chat exacerbates the issue, leaving users heavily reliant on the provided phone number and website. This instability raises concerns about the promptness of issue resolution and responsiveness to customer inquiries. Traders should exercise caution, considering the limitations in customer support when engaging with Freedom Finance.

Customer Support

Educational Resources

Freedom Finance lacks comprehensive educational resources for its users. The platform does not offer educational materials or resources to assist traders in understanding the intricacies of financial markets, develop effective trading strategies, or enhance their trading skills. This absence of educational support can be a significant limitation for both beginners and experienced traders, hindering their ability to navigate market dynamics and make informed decisions. In the absence of educational resources, users may find it challenging to stay updated on market trends, risk management techniques, and other essential aspects of trading, potentially impacting their overall trading experience with Freedom Finance.

Conclusion

In conclusion, FREEDOM FINANCE offers a diverse range of trading assets and three distinct account types, providing flexibility to traders. The platform features competitive spreads and commission structures, enhancing cost-effective trading. However, the absence of regulatory oversight poses potential risks for traders, impacting the platform's overall trustworthiness. The choice between MetaTrader 4 and Utip adds diversity to the trading experience, but subpar customer support with limited contact options and an inaccessible official website are notable disadvantages. Additionally, the lack of comprehensive educational resources may hinder users' ability to navigate financial markets effectively. Traders should carefully weigh the advantages and disadvantages before engaging with FREEDOM FINANCE.

FAQs

Q: What trading assets does FREEDOM FINANCE offer?

A: FREEDOM FINANCE provides a diverse range of trading assets, including stocks, ETFs, futures, options, and CFDs.

Q: How many account types does FREEDOM FINANCE offer?

A: FREEDOM FINANCE offers three account types: BUSINESS, PREMIUM, and BASIC, catering to different trader needs.

Q: Is FREEDOM FINANCE regulated?

A: No, FREEDOM FINANCE operates without regulatory oversight.

Q: What are the minimum deposits for the account types at FREEDOM FINANCE?

A: Minimum deposits vary: BUSINESS ($25,000), PREMIUM ($2,500), and BASIC ($250).

Q: What trading platforms are available at FREEDOM FINANCE?

A: FREEDOM FINANCE offers MetaTrader 4 (MT4) and the proprietary platform Utip.

Q: Does FREEDOM FINANCE provide educational resources?

A: No, FREEDOM FINANCE lacks comprehensive educational resources for traders.

User Reviews

Sort by content

  • Sort by content
  • Sort by time

User comment

3

Comments

Write a review

Benjamin Liam
more than one year
Their Algorithmic Trading Platform, intended to be a high point, turned out to be a low one. It was not user-friendly and, in fact, it was impossible for me to execute any sort of trade on this platform. When I contacted their customer support for much-needed assistance on how to navigate around the platform, I was met with a response that was far poor. The customer service team seemed to be unaware and uninformed about the platform they were supposed to be supporting, which only worsened my trading experience.
2024-02-01 10:38
Reply
0
0
王宗玺
more than one year
FREEDOM FINANCE is a complete Scam. This is a boiler room scam cold calling people from a number pushing broker services. They will smoothly talk you into making trading payments on their website on a regular basis. However, you will never see that money again, and they will have your personal information.
2023-03-14 18:09
Reply
0
0
追风少年
more than one year
Very awful service from FREEDOM FINANCE. I am afraid I lost all my money forever. Don't trust these scammers saying they can get your money back. They are a bunch of low-life scammers. They will promise you that they can help but they are just liars.
2023-02-22 14:57
Reply
0
0
TOP
Select Country/Region
United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com