Cedar FX review

On-line since: 2020
Country of origin: Saint Vincent and the Grenadines
Regulation: Financial Services Authority
Payment options: Bank transfer, bank card, cryptocurrency, electronic payment systems
Minimum account size: $10
Minimum lot size: 0.01
Leverage: 1:1000
Spreads: 1.2

About the company:

Forex broker Cedar FX was founded in 2020 in Saint Vincent and the Grenadines. The company is subject to control by the Financial Services Authority.

On its website, the company highlights the following benefits: providing traders with the tools they need to grow and succeed, practical knowledge sharing, combining some of the best market conditions with unbeatable prices and technology to create the ideal trading environment for clients, developing practice and improving client skills, zero commissions and no transaction fees, direct access to global financial markets with more than 170 trading assets, 24/7 qualified technical support, fast account access and fast order execution.

Trading conditions

Cedar FX offers two types of trading accounts: 0% commission account (minimum deposit $10), Eco account (minimum deposit $10, $1 is taken as a commission and goes to the tree planting fund). Beginning traders can open a demo account and explore the world of online trading without risks and investments. Precious metals, indices, commodities, stocks, Forex - these are the assets that are available for trading through Cedar FX. We were unable to find information whether the broker holds contests for traders, whether the broker has welcome bonuses or affiliate programs. Also, the site does not have an educational base and tools useful for a trader.

Trading platforms

As stated on the site, Cedar FX provides free access to the well-known MetaTrader 4 trading platform. There is also a web version for trading through any browser and a mobile application for Android and iOS.

Technical support

Technical support specialists work 24/7 and are ready to answer any question. Customers can access the live chat window or request a call back.

Deposit/Withdrawal

Traders can withdraw profits or deposit their account through a bank transfer, bank card, cryptocurrency and electronic payment systems.

Trader reviews

We found a lot of reviews about this broker on the Internet. Reviews are both Russian and English. Mostly negative reviews. Claims are as follows: scam accusations, slow withdrawal of funds, unqualified technical support.

Broker Advantages

• Presence of a regulator
• Lots of trading assets
• Focus on improving the environment
• Small initial deposit

Broker Disadvantages

• Scam suspicions
• Unprofessional technical support
• Slow withdrawal
• Registration in an offshore zone

Conclusion

When choosing a broker for cooperation, always pay attention to the basic features: the presence of a proven regulator, technical support communication with traders on the forums, the reputation of the broker, the history of the company and trading experience.