CedarFX: Who are you?
Research in South Africa Cedar FX has revealed that a CFD broker was launched in 2020 in St. Vincent & the Grenadines. It is focused on an eco-friendly stance and ultra-fast withdrawals. They also offer low spreads and zero commissions for their 0% Commission Account.
It allows you to access over 170 assets, including 35 different crypto pairs as well as 55 Forex pairs.
Scam or safe
Cedar FX is a broker that has been regulated by the appropriate authorities. This will allow you to determine its safety.
Cedar FX, which is based in St. Vincent and the Grenadines has not been regulated by any government regulators. This is not a problem, but Cedar FX must still follow the laws in its jurisdiction. It also complies with Anti-Money Laundering and Know Your Customer regulations that are placed on brokers in Europe.
The broker is not regulated, but can offer leverage greater than 1:30. This is because all EU- regulated brokerage are limited to, and traders have leverage up to 1:500 for certain assets.
Leverage
Leverage allows you to have a greater exposure to the market than the initial deposit to open the trade. Leveraged products such as forex trade can increase your profit potential but also decrease your risk.
Leverage is expressed in a ratio. For example, 50:1, 100;1 or 500:1. Your leverage ratio will be 500:1. If you have $1,000 in your trading accounts and trade tickets of 500,000 USD/JPY you will have 1,000.
Margin refers to the amount of collateral you have available to cover credit risks that could arise from trading. Margin is calculated as a percentage of the position size (e.g. 5% or 1%) and must be available in your trading account.
A $10,000 deposit is required to fund a $1,000,000 position with a margin of 1%. To be able open new trades, the margin level of a trading account must be equal to or greater than 100%. Otherwise your trading account will be completely hedged.
Cedar FX has a maximum leverage ratio (depending on which instrument you trade) of 1:500. Cedar FX offers 1 to200 leverage for commodities and indices, 1:100 leverage for all crypto pairs and 1:500 leverage Forex and metals. It also offers 1:20 leverage on stocks.
Accounts
Cedar FX offers a forex account. This is a trading account you will have. It will function similarly to your bank accounts, except that it is issued primarily for the purpose of currency trading.
Swap-free Forex Islamic accounts are also known by the name swap-free because they do not imply any swap or rollover interest for overnight positions. This is contrary to Islamic faith.
The type and number of accounts a trader can open at a broker company will vary depending on where it is located and the regulatory authorities it falls under.
CedarFX offers these types of accounts:
Unlimited Demo Account
- Cedar FX offers a demo account which is unlimited in time and virtual money. You must use the demo account at least once per 14 days. If it is not used, the demo account will be closed and the trader would have to request a new one.
- Cedar FX offers two types of live accounts: the Eco Account and the 0% Commission Account.
The Zero Commission Account
- The 0% commission account is the standard account most traders prefer. This account has zero commissions, no additional fees, and extremely low spreads.
- There are no withdrawal or deposit fees and withdrawal requests for cryptocurrency are processed within 24 hours to reflect in the user’s wallet.
Account for Ecological Awareness
The Eco-account allows traders to reduce the earth’s carbon footprint. Cedar FX will match this commission and send each month’s profits to Ecology. Ecology is a non-profit organization that plants trees and reduces the earth’s carbon footprint. The Eco-account comes with a $1 commission for each lot traded. Each lot that is traded results in 10 trees being planted.
Market instruments
These are the most common market instruments that brokers offer for trading:
Forex
Forex trading refers to the currency market, which is a global decentralised marketplace in which individuals, businesses, and financial institutions trade currencies at floating rates.
Commodities
Traders have many investment options in commodity markets. Trade in soft commodities has been going on for centuries. This is a great way to diversify your portfolio and manage risk. Contract-based tradable commodities are a reliable way of reducing risk in times of economic uncertainty.
Indices
Stock indices (or equity) are stock market indexes that measure the value of specific sections of a stock exchange. They can be used to represent a particular stock market or a set of the biggest companies in a country.
Precious metals
Trading in gold, other precious metals, crude oil, copper or petroleum are all hard commodities that play an important role on the commodities market. They are contract-based tradable good and have a significant impact on the commodities market.
Energie
High volatility is a hallmark of energy prices due to the influence on political and environmental factors. Supply and demand, extreme weather and global economic growth all have an impact on energy prices.
Cedar FX offers these services:
Cedar FX clients have the ability to trade more than 170 assets in a single transaction from these asset classes:
There are 55 Forex currency pairs, 64 stocks and 11 indices. Metals, commodities, and commodities all along with 35 crypto pairs.
Fees
Costs depend on many factors such as spread and margins. Cedar FX clients might also experience different fees depending on their country of residence.
Spread is the difference in the ask and bid rates. A pip is the smallest increment an exchange rate can move.
Margin refers to the money that you need in your account to open an order. Margin is calculated using the current exchange rate of USD against the base currency, the size of the position (volume) and the leverage you apply to your trading account.
Cedar FX charges no fees for deposits and transactions. Trading is cheaper when there’s no commission for the 0% Commission Account. This helps traders maximize their profits and lowers the cost of trading.
Withdraw and deposit
A minimum deposit is required to open an account. This can be paid in one of several ways. Withdrawals are usually possible in the same way, but can sometimes be done in different ways.
Cedar FX allows you to fund your account with the popular cryptocurrency Bitcoin. If you don’t have Bitcoin, you can use a debit or credit card. You will be redirected to a merchant site to buy Bitcoin. Then, you can deposit it at Cedar FX.
You can select an asset and trade in a matter of minutes. Cedar FX bitcoin requires a minimum of $10, while other payment options require a minimum of $30. Traders can deposit using EUR, USD or GBP.
Trading platforms
Cedar FX provides clients with a forex trading platform that allows them to execute their trades. Some brokers offer only one platform, while others provide multiple platforms.
Multi-asset trading platforms allow clients to trade both forex and other asset classes. The client’s trading preferences will often dictate the platform they choose.
Cedar FX offers the MetaTrader4 platform to its clients. It has powerful tools and a simple interface that allows traders to start trading. However, it is powerful enough to be used by seasoned traders who have the most complicated trading strategies.
You can download the MT4 platform for Windows PCs. It is also available as a Web Trader.
How do I open an account?
Similar to banks, in order to open a Forex trading account with Cedar FX, you will need to complete a “know your customer” procedure. This will enable Cedar FX to verify your details and protect your funds.
Cedar FX makes it easy to register for an account. Simply fill out the form with your full name and email address and a strong password. You can even use your Google or Facebook account to register for and log in to the account.
Once you create and verify your account, you’ll be directed to fill in a form.
Traders have the option to open as many live and demo accounts as they wish. They can also open concurrent Eco and 0% Commission accounts.
Customer support
Potential traders should ensure that the broker company they choose will provide sufficient support when they need it.
Cedar FX customers have 24/7 access to their support team via live chat, email, a form or a callback service. They will call the client at the requested time and number.
Cedar FX offers support only in English, unfortunately.
Education
Cedar FX clients should be prepared to learn all the information and trade skills necessary to succeed in forex and commodity trading before they start trading.
Cedar FX provides traders with a variety of educational solutions in the form FAQ.
Demo accounts allow traders to explore the platform and make mistakes. Before you open a live account, you can open as many demo accounts that you wish.
Research
Trades should be conducted with confidence. Before they begin, traders should research the risks involved in speculative trading. They also need to conduct thorough research before entering into any deal. This will ensure that they don’t lose too much money and make their trades as profitable as possible.
Cedar FX gives them access to market news, calendars, and a few options for online research.
Awards
Trading companies feel more confident when they are awarded. Although Cedar FX is highly regarded by customers, its homepage does not indicate any awards.
Conclusion
Broker that is not regulated, but transparent with high operational standards and low trading fees. It also delivers superior service to investors, helping them achieve their goals. It is able to accommodate traders of all levels.
Cedar FX is a company that values an eco-friendly approach, fast withdrawals, low spreads and zero commissions.
The platform’s dependence on Bitcoin to deposit and withdraw funds is a drawback.
Disclaimer
Cedar FX warns potential clients that Forex and CFDs trading carries substantial risk and may not suit all investors.
Potential traders should carefully evaluate their financial situation, investment goals, and experience before making a decision to trade with Cedar FX.
Cedar FX warns traders that margin trading can bring them profit and risk loss. According to research in South Africa, Cedar FX cannot guarantee that traders will not lose maximum profits.
| CEDARFX Summary | |
|---|---|
| CEDARFX Details | Information |
| Regulators | |
| Country |  Saint Vincent and the Grenadines |
| Base Currencies | BTC, EUR, USD, GBP |
| Type Of Brokers | ECN, STP |
| Trading Platform | Desktop, Mobile, WebTrader, MT4 |
| Established Year | 2020 |
| Website Language | English |
| US Clients | |
| CEDARFX Spreads | |
|---|---|
| Option | Information |
| Minimum Spreads | N/A |
| Commission | |
| Fixed Spreads | |
| CEDARFX Payment & Withdrawal Option | |
|---|---|
| Option | Information |
| Acc Funding Methods |  Wire transfer,  Master Card,  Visa Card,  Bitcoin |
| Acc Withdrawal Methods | Bitcoin |
| CEDARFX Suitable For | |
|---|---|
| Option | Information |
| Publicly Traded | |
| Beginners | |
| Day Trading | |
| Weekly Trading | |
| Professionals | |
| Swing Trading | |
| CEDARFX Trading Account Options | |
|---|---|
| Option | Information |
| Maximum Leverage | 1:500 |
| Mini Account | |
| VIP Accounts | |
| Segregated Accounts | |
| Free Demo Accounts | |
| Managed Accounts | |
| Pro Account | |
| Minimum Deposit | 10 USD |
| Islamic Account | |
| CEDARFX Trading Services | |
|---|---|
| Option | Information |
| Hedging | |
| News Trading | |
| Scalping | |
| Automated Trading | |
| Indices | |
| Commodities | |
| Forex instruments | |
| CFDs | |
| ETFs | |
| Stocks | |
| Bonds | |
| Cryptocurrencey | |
| Trading Signals | |
| Educational Service | |
| Copy Tradings | |
| CEDARFX Contact & Support | |
|---|---|
| Option | Information |
| info@cedarfx.com | |
| 24 Hours Support | |
| Support During Weekends | |
| Address | First Floor, First St Vincent Bank Building James Street, Kingstown, Saint Vincent And Grenadines |
