CFD Society is a new CFD trading software for Forex trading which they said was developed by Chris Chase. The software itself looks like it was made in August 2016, because of the dates on the trades history. The actual website was only built in January 2017.
As you read this review, you will find the various problems we expose that you will have using a product like CFD Society.
CFD Society Review
A major problem with we have with the CFDSociety, is that they want us to deposit money at the broker, before we can see if the software is worth anything.
After you sign up on the CFD Society website, you are directed to deposit $250 at some random unlicensed CFD dealer. When we opened our account with CFD Society they gave us an account at TradeFintech, which is not a licensed or regulated broker. You can find a licensed CFD broker by looking here.
WARNING: Don’t become the next victim of an online scam, first read about licensed brokers.
CFD Society Scam
Here is what you must know about the CFD Society product that leads us to believe that it just might by another get rich quick scam.
As you have seen in the picture above, it is showing trading results from over six months ago. Any company that advertises trading results, is usually a scam because past performance is no indication of future results. When a company writes fake testimonials from clients claiming to have made $63,000 from $300, you know it is a problem.
There are literally hundreds of Expert Advisors, also know as EA’s for trading forex, and the majority of them are not very good.
Basically, if you are new to trading CFD’s then you should know that there is no such thing as making that kind of money. It never happens in the real world of online trading.
Scam CFD Trading Brokers
There were two types of online brokers for trading Forex and CFDs; brokers that are licensed and regulated by the FCA, ASIC, or CySEC, and then there are unlicensed (scam) brokers.
Investors that use a legitimate broker that is licensed and regulated, usually do not have any problems withdrawing their money. If you are a fool, and want to trade with an unlicensed broker that promises you high monthly returns, you will probably not see your money ever again!
So be a smart investor and choose one of the real Forex brokers listed here.