CedarFX is an offshore Forex broker, that opened in November 2020.
Officially they are owned and operated by Cedar LLC, and located at: First Floor, First St Vincent Bank Building, James Street, Kingstown, St. Vincent and the Grenadines. There is no listed phone number or email address for them. They simply offer you live chat on their website. Official website is at: https://www.CedarFX.com/.
For complaints and withdrawal problems, read this.
CedarFX Broker Review
Day Traders and Investors at CedarFX are offered the popular Forex trading app known as MetaTrader 4 or MT4. At the broker Cedar FX, you will find that they offer the desktop app, a web-based trading app, along with mobile trading apps for Android & iOS devices. You will be able to create multiple demo accounts to test out their trading platforms and your trading strategies.
Before beginning your quest to become a Forex trader millionaire, you should first read the article: “The Difference Between Regulated & Offshore Brokers“.
Officially they have available over 170 underlying assets for trading CFD’s including; Forex / Currency pairs, Commodities (oil, gold & silver), Indices and Stocks. Maximum leverage rate / margin rate offered is 500:1. Two account types are offered, the commission free account, or their Eco account with $1 commissions. The minimum deposit for a new trading account is only $10.
Deposits at Cedar FX is transacted via Bitcoins Only! Basically, when using a credit card, you are buying Bitcoins from InstaCoins, which you will then transfer to the brokers Bitcoin wallet. It is important to know, that Bitcoin transactions are not covered by your credit cards fraud protection.
Is CedarFX a Good Broker?
It is important that you understand, CedarFX is not a licensed or regulated broker.
The way investors know if a Forex broker is not a scam, is by checking their website for a license. When you see that they hold a valid license from your governments financial regulator, you can be sure that they are a legitimate broker. Forex brokers in the United States must be licensed and regulated by the CFTC, and brokers in South Africa must have a license from the FSCA.
For complaints and issues with withdrawing your money, read this.
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