Looking at CedarFX reviews we can see that this brokerage although decent, it is not regulated and poses a threat to users’ funds. The CedarFX broker is one of the world’s biggest Eco-Friendly online Forex brokers that allows traders to trade while giving back to the environment. In this CedarFX review, we will see what traders think about it.
The broker is very popular in the Forex field and offers an original 0% commission account that is its most popular one, carrying no charges when trading crypto, CFDs on stocks, indices, and more. The CedarFX broker review shows that its most popular option is its Eco Account types that include a $1 commission for a lot traded and the commissions paid are used to plant trees thanks to their partnership with the Eden Foundation.
Traders love this platform as it offers access to more than 180 assets via the MetaTrader 4 platform and it also provides 24/7 customer support via live chat, calls back, or email.
Trading Accounts
0% commission
All CedarFX reviews pointed out that the platform has a 0% commission trading account that eliminates all commission fees to help traders make the most of their trades. Traders also use able to use the full amount of their deposits and open positions as well.
The spreads on the platform are low which guarantees that the trading costs are minimal across all trading assets that are available on the platform. Also, whether you decide to deposit BTC or fiat, they don’t charge fees for the transactions. This means that traders can get access to their funds at zero cost and same-day crypto withdrawals as well.
Eco account
CedarFX offers another account type which is the Eco Account. The goal is to provide an opportunity for all environmentalists to help towards creating a more sustainable future. With the Eco account, $1 in commission is charged and all of the funds collected are then sent to Ecologi, which will later be used to plant trees and promote carbon reduction.
For each $1 commission, the Eden Reforestation Project will gather the funds and use them to plant a million trees across the world as they’ve already done in Nicaragua or Madagascar.
Live and Demo Accounts
Whether you decide on an Eco Account or a 0% commission account, as a trader, you are able to open both Demo and Live accounts on their MetaTrader 4 platform which come with identical features. The one difference is that you won’t have to trade with real money by using the Demo Version.
The Demo version is great for traders that want to practice their strategies before starting the live version.
Payment Methods
According to CedarFX reviews, traders most often choose Bitcoin as their main deposit method. Some also use the credit card option but the least favorite among all is the Bank Wire Transfer option.
Bitcoin is the fastest way to deposit these funds so traders would have to deposit in BTC directly or purchase and send BTC via a third-party service.
CedarFX also allows trading on 183 different financial instruments in different categories like forex, stocks, indices, and crypto.
Also, the few deposit methods include VISA, MasterCard, Bitcoin, SWIFT, or Bank Write.
As a payment method, BTC is the most reliable for its low cost and fast transaction time. Brokers were integrating BTC as one of their funding options especially after Bitcoin became extremely popular in the past few years. Now, traders that own digital wallets can transfer their funds simply right to their trading accounts.
Speaking of wire transfers, it is still the most commonly used payment method. Most of the brokers provide this method on their platforms and the reason why it is the most preferred, is because it is already a well-established worldwide system between banks and it is guaranteed a safer method. This can help traders that avoid third-party payments or they do not own credit cards.
Trading Options
Besides the many currency pairs, CedarFX offers other interesting instruments that you could trade on. These include Forex, CFD, oil, stock, Gold, silver, Indexes, crypto, and metals.
Make sure to understand that different instruments have different trading conditions. The traders have to make sure their strategy is well suited for the instruments that they chose. As for the ECO 0% commission account, CedarFX provides it with the next few instruments and leverage:
Forex 1:500
Gold/Silver 1:100
CFD 1:100
Crypto 1:10
Oil 1:100
FAQ
- What is the main difference between the 0% Commission Account and the Eco One?
The main difference between the accounts is the commission rate. With the 0% commission account, traders are able to trade assets without having to pay a commission to the broker while with the Eco-friendly one, traders are charged $1 per lot traded. All of the commissions are later used to plant trees across the world. Everything else from leverage, instruments, and spreads is the same for both accounts.
2. How does CedarFX make a positive environmental impact?
The goal of this platform is to tackle the biggest challenge of our time and it is climate change. The brokerage partnered with Ecologi to support various environmental projects.
Also, they are constantly trying to offset the workforce’s carbon footprint by investing in reforestation projects.
3. Is CedarFX legit?
The CedarFX review sites online show that traders are happy with their choice of broker and most importantly they are happy to help a cause that can save the planet.
The concept of green trading is the biggest standout feature but also the’s 24/7 crypto trading opportunities, zero commissions, and same-day withdrawals that make the broker a preferred choice.
4. Is CedarFX Regulated?
This broker is regulated by none. Having been regulated, it will equal a more responsible trading environment and a guarantee of a safer environment for the funds. Being a regulated broker prevents from pouring money into various schemes and incidents that result in the client’s loss of funds.
5. Is CedarFX a good broker?
Being a good broker doesn’t always mean only having a lot of trading options and accounts. Being a good broker constitutes offering safe services for traders, fulfilling many criteria regarding deposits and withdrawals, and providing reliable customer support.
You can decide whether CedarFX is a good broker if it fulfills your desired criteria. In general, it offers trading services in gold, silver, CFD, oil, Forex, stocks, crypto, indexes, and metals. As for payment methods, you are able to choose between BTC, credit/debit card, and also Wire transfer.
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- Source: https://www.dcforecasts.com/reviews/cedarfx/
