CedarFX Review & Rating 2021
Read this CedarFX broker review before opening your account. Is this a reliable Forex broker? Find out more with our AtoZ Markets Forex broker review of CedarFX.
CedarFX is a forex and CFD broker based in St. Vincent and the Grenadines. The broker gives direct access to global financial markets, with over 170+ tradable assets available through MetaTrader4. The client can trade Forex, Crypto pairs, stocks, indices and commodities all through a single platform.
We have done an extensive review of the company and found it legit and recommendable. This broker provides maximum flexibility on deposit requirements for all traders.
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CedarFX was founded in 2020 and headquartered in St. Vincent and the Grenadines. As a new brokerage firm, it has managed to find its niche in the forex industry by offering all the necessary tools to operate the trading account.
As mentioned on the website, it uses Straight Through Processing (STP) for trading. Therefore, each and every trade is completed directly without a dealing desk. So clients can have a process with no re-quotes and no possibility of price manipulation. Moreover, the company brings direct light-fast connectivity to multiple top-tier liquidity providers.
Overall, CedarFX is a forex and CFD broker that provides services across the globe to trade the world’s markets. With a solid range of trading platforms, popular financial instruments, and competitive spreads, this broker became a unique company in the industry.
- Zero commission
- Low spread
- Ultra-fast withdrawal
- Minimum deposit of $10 for opening live account
- 35 Cryptocurrency pairs available for trade
- Responsive customer support
- MT5 trading platform is not available
Online trading through CedarFX broker is safe. The broker is regulated as per the local laws of the territory registered. They provide some features in the market to protect clients’ funds. For example, it offers the ‘bitcoin cold storage’ for traders to fund their account with bitcoin. So they do not hold any deposit to their web server or any other computer. In addition to that, traders’ funds are kept in segregated accounts with two-factor authentication to increase clients’ security of funds.
CedarFX provides the standard MT4 trading platform with full features. Overall, the automatic trading and custom solutions on the MT4 infrastructure is very user-friendly in the retail sector.
CedarFX offers the below-mentioned features for its traders:
- 9 different time frames
- Built-in tick chart features provide an accurate method for locating optimal entry and exit points.
- Wide choice of free indicators and advisors
- Creating your own indicators and advisors (MQL4)
- High-security 128-bit encoding
- Quick trading functions allow for locking in trading orders straight from the chart with just one click.
- Choose from three trade execution modes- instant Execution, market execution, and pending orders.
- Trailing stop
- Available in Android & iOS
Besides MT4, traders can access and trade their favorite currencies from any website enabled device. Using webtrader platform, traders can enjoy most of the features from the MT4 platform.
CedarFX provides two types of options to start with - a 0% Commission Account and an Eco Account. Both the accounts allow opening Demo and Live accounts on the MetaTrader 4 platform. Both account types come with identical features, the only difference being that you don’t need to trade with real money when using a Demo version. Demo accounts are ideal for traders to get used to the platform and practice strategies before going live. Once you’ve gained confidence, you can open a Live account with CedarFX.
Over in the cryptocurrency department, traders can buy and sell their favorite crypto-to-fiat pairs and crypto-cross pairs. Traders can trade Bitcoin, Litecoin, Ripple and other 30 digital coins through the broker.
CedarFX stands out to be one of the best forex brokers in the market that enables traders to open as many trades as they want, with Zero commission. The broker charges a very little charge of $1 commission per lot for Eco Account holders and the commissions will be used to support the environment. All other aspects of the account, such as spreads, leverage and instruments, are identical.
You can connect with the broker via Email, LiveChat & CallBack requests. The team is highly responsive and has an experienced team to resolve the query of the client.
CedarFX has been registered in First Floor, First St Vincent Bank Building, JamesStreet, Kingstown, St. Vincent and the Grenadines and is regulated as per local laws of the territory.
In summary, our review of CedarFX is positive. We found the trading arena of CedarFX as highly comprehensive. MetaTrader 4 provides a lot of charting tools and EA’s that can ease a trader’s activity.
The platform holds nearly 100 plus financial instruments to trade with. It is important to remember that CedarFX is a new broker in the market, however, giving a tough competition to its competitors. Also, if you’re looking to specialize purely in cryptocurrency trading, you get access to 35 digital currency assets with both fiat-to-crypto and crypto-cross pairs.
Overall, the leverage of the broker is up to 1:500. With fast withdrawals and 24/7 customer support. CedarFX is worth considering if you are looking for a new and potential brokerage.