CedarFX Review – ☑️Unbiased Pros and Cons Revealed (2022)

Overall, CedarFX is trustworthy to invest with and utilize their trading services. CedarFX is a  focused eco-friendly stance, ultra-fast withdrawals, ultra-low spreads, and zero commissions for the 0% Commission Account.CedarFX offers traders the MetaTrader suite of platforms as well as a basic web and mobile app.CedarFX  has a Maximum Leverage of 1:500

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CedarFX at a Glance

Choose your quick section of our Cedar FX review below.

CedarFX Review – 22 key points quick overview:

Cedar FX also has an impressive commitment to supporting the environment with NGO Ecology, supporting planting trees, and reducing carbon footprints around the world.

 CedarFX Overview

According to research in South Africa, Cedar FX is a CFD broker launched in 2020 in St. Vincent and the Grenadines, focused on an eco-friendly stance, ultra-fast withdrawals, ultra-low spreads, and zero commissions for the 0% Commission Account.

It gives access to over 170 popular assets, including 35 different cryptocurrency pairs and 55 Forex pairs.

 CedarFX Safety and  Security

One of the best benchmarks to measure the safety of a broker like Cedar FX is to establish which regulating authorities are watchdogs over its actions.

Based in St. Vincent and the Grenadines, Cedar FX is not regulated by any government regulators. Although this is a negative, Cedar FX still must follow all the laws of its jurisdiction, and it complies with the Know Your Customer and Anti-Money Laundering regulations placed on brokers in the European Union.

A benefit of not being regulated is that the broker can offer leverage of more than 1:30 as all the EU-regulated brokers have been limited to, and traders can have access to leverage of as much as 1:500 on some assets.

 CedarFX Leverage

Leverage is a facility that enables you to get a much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as forex trading, magnify your potential profit – but also increase your potential loss.

Leverage amount is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. If you have $1,000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate to 500:1.

Margin is the amount of collateral to cover any credit risks that may arise during your trading operations. It is expressed as the percentage of position size (e.g., 5% or 1%), and you must have funds in your trading account to ensure sufficient margin.

For example, on a 1% margin, a position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal to or more than 100% to be able to open new trades, otherwise, your trading account will be fully hedged.

Cedar FX offers a maximum leverage ratio of 1: 500, depending on the type of instrument you are trading. Cedar FX offers 1:200 leverage for indices and commodities, 1:100 leverage for all crypto pairs, 1:500 leverage for Forex and metals, and 1:20 leverage for stocks.

 CedarFX Accounts

A forex account at Cedar FX is a trading account that you will hold and that will work similarly to your bank account, but with the difference that it is primarily issued with the purpose of trading on currencies.

Forex Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against the Islamic faith.

Often, the number and type of accounts that a trader can open with a broker company differ depending on the country in which it operates and the regulatory authorities under whose jurisdiction it falls.

CedarFX offers the following types of accounts:

Unlimited Demo Account

• Cedar FX provides a demo account that is limitless in both time and virtual funds. The demo account must be used at least once every 14 days, otherwise, it is shut down and the trader would need to request a new demo account.
• There are two live account types offered by Cedar FX — the 0% Commission Account and the Eco Account.

The Zero Commission Account

• This primary standard account that most traders prefer is the 0% commission account. It has no commissions or additional fees and ultra-low spreads.
• No deposit or withdrawal fees are charged, and cryptocurrency withdrawal requests are processed the same day to reflect in a user’s wallet.

Ecological Awareness Account

The Eco-account is designed to allow traders to help reduce the carbon footprint of humans on the planet. The Eco-account does come with a $1 commission on each lot traded, with Cedar FX matching this commission and sending each month’s proceeds to Ecology, a non-profit entity that plants trees and works to reduce the carbon footprint on the Earth. For each lot traded 10 new trees are planted.

 CedarFX Market instruments

The most popular market instruments available from most brokers for trading include:

Forex

Forex trading describes the currency exchange market which refers to the global, decentralized marketplace where individuals, companies, and financial institutions exchange currencies for one another at floating rates.

Commodities

Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and play a significant role in portfolio diversification and risk management. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.

Indices

Equity, or stock indices, are actual stock market indexes that measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies of a nation.

Precious metals

The trading of gold and other precious metals, along with crude oil, copper, or petroleum, are hard commodities that play a significant role in the commodities market and are contract-based tradable goods.

Energy

The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions, and global economic growth.

Cedar FX offers the following of the above:

At Cedar FX clients can trade more than 170 individual assets from the following asset classes:

55 different Forex currency pairs, 64 stocks, 11 indices, metals, and commodities, along with 35 crypto pairs.

 CedarFX Fees

Cost depends on several factors, like spread and margins, and Cedar FX clients may also experience different fee structures according to their country or place of residence.

The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move.

Margin is the amount of money required in your account to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your trading account.

Cedar FX does not charge fees for deposits or for any transactions on the platform. The lack of commitment to the 0% Commission Account also helps to lower the costs associated with trading and helps traders maximize their profits.

 CedarFX Deposit and withdrawal

Accounts usually require a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done in the same ways, but sometimes differ.

In the case of Cedar FX, you can fund your account via the popular cryptocurrency Bitcoin, or if you do not have any Bitcoin you can use a credit or debit card. In this instance, you are redirected to a merchant website to purchase Bitcoin, which you then deposit at Cedar FX.

It should only take a couple of minutes until you can choose an asset and trade. The minimum deposit on Cedar FX in bitcoin is $10 and the minimum deposit available for other types of payment methods is $30. Traders can make deposits using EUR, USD, GBP, and BTC.

 CedarFX Trading platforms

The forex trading platform provided by Cedar FX to its clients is the software to carry out their trades. Some brokers provide only one, others quite a few platforms.

A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.

Cedar FX provides the MetaTrader 4 platform to its clients, with its powerful tools and simple interface to easily start trading, although powerful enough for seasoned traders who run the most complex trading strategies.

The MT4 platform can be downloaded for Windows PCs, be accessed as a Web Trader, and is available for both Android and iOS devices.

How to open a CedarFX account

Similarly, to a bank, to register a forex trading account with Cedar FX for the first time, you will be required to go through a basic “know your customer” process, which will allow Cedar FX to ascertain that your submitted details and ensure the safety of your funds and account details.

With CedarFX the process is fast and easy with a simple form with your full name, email address, and strong password to register an account. There is even the option to use your Facebook or Google account to register and log into the account.

You create an account on the sign-up page of the site and once you have created and verified your account, you will be directed to fill out a form with all the relevant details needed.

Traders can open as many demos and live accounts as they like and can also open simultaneous 0% Commission and Eco Accounts.

 CedarFX Customer support

Potential traders need to make sure the broker company they chose will offer sufficient support whenever they need it.

In the case of Cedar FX customers can reach the support team 24/7via live chat and email, a web form, or they offer a call back service where they will make a phone call to the client at the time and number requested.

Unfortunately, Cedar FX currently only offers support in English.

 CedarFX Education

Before starting to trade, potential clients of Cedar FX should avail themselves of all the information and trading skills needed to be successful in the world of forex and commodity trading.

Cedar FX offers several educational answers for traders in the form of FAQs.

The demo accounts are a further help to traders to learn more about the platform and learn by trial and error. You can open as many demo accounts as you like before opting for a live account.

 CedarFX Research

To be able to trade with confidence, traders should do as much as research about this kind of speculative trading before commencing, but also preceding every daring deal to ensure that they do not lose money unnecessarily and trade as profitable as possible.

With Cedar FX they have access to a few online research options, calendars, and market news.

 CedarFX Awards

Being an awarded company instills extra confidence in traders.  However, despite Cedar FX being acclaimed by customers, there is no indication of awards won on its homepage.

 CedarFX Pro and Cons

Conclusion

Overall, CedarFX is trustworthy to invest with and utilize their trading services. CedarFX is a  focused eco-friendly stance, ultra-fast withdrawals, ultra-low spreads, and zero commissions for the 0% Commission Account.CedarFX offers traders the MetaTrader suite of platforms as well as a basic web and mobile app.CedarFX  has a Maximum Leverage of 1:500

Disclaimer

Cedar FX warns potential customers that Forex and CFD trading always carries a substantial risk and may not be suitable for all investors.

Before deciding to trade with Cedar FX, potential traders are advised to carefully consider their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.

Cedar FX warns that margin trading involves the potential for profit as well as the risk of loss and that movements in the price of foreign exchange and commodities are very unpredictable, hence Cedar FX cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.

FAQ

How many instruments can I trade with Cedar FX?

You can trade several different instruments with Cedar FX, which include 170 different assets:

• 55 different Forex currency pairs
• 64 stocks
• 11 indices
• metals
• commodities
• 35 crypto pairs

Which platforms are supported by Cedar FX?

Cedar FX provides the popular MT4 trading platform.

What is the overall rating out of 10 for Cedar FX?

7/10.

Featured SA Shares Writer and Forex Analyst.