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Cardiff Global Markets Review - is it scam or safe?

Cardiff Global Markets Review - is cardiffglobal.com scam or good forex broker?

RATING: 3 / 1 REVIEWS Cardiff Global Markets
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Trading Accounts & Conditions

 

 

Account type  Min. deposit  Min. trade size Max. leverage Average Spread (&Commission)
Standard $1 0.01 1:400 Variable
Pro $1 0.01 1:400 0.5 pips + $7/lot *
Prime $50 000 0.01 1:400 Variable

 

*we saw this when testing the demo platform.

 

Cardiff Global Markets is actually not a broker based in Wales as one might think, judging by the name. Instead, it is an Australian forex and CFD broker that offers the above account types, all of which provide variable spreads, leverage up to 1:400 and micro tradeable lots.

 

 

Cardiff Global Markets Advantages

 

Solid regulation (ASIC)

In our view, the main advantage of this broker is the fact that it holds a license from a reputable governmental agency. Cardiff Global Markets is owned by Cardiff Global Markets Pty Ltd, which is regulated by the Australian Securities and Investments Commission (ASIC).  

 

MT4 supported

When it comes to software for forex trading, Cardiff Global Markets does not disappoint. It offers the most popular forex trading platform, the MetaTrader4 (MT4). Its charting package is one of the best in the industry, with many technical analysis indicators, as well as with the option to develop some of your own, if you are handy with code. This also applies to the popular Expert Advisors of the MT4, which are automated trading strategies.

 

Competitive spreads

Cardiff Global Markets has not announced the spreads it offers on the website, but when we tested its Pro account in demo mode, we found that the spread on EUR/USD is floating around 0.5 pips.

 

 

Cardiff Global Markets’ demo MetaTrader4. Click on the image to zoom-in.

 

Additionally, a commission of $7 applies, which means that the trading costs for this pair amount to around 1.2 pips per standard lot, which is a competitive pricing. For further information, check out the link below:

 

 

>> Compare forex spreads in real-time << 

 

 

No minimum deposit requirement

The fact that Cardiff Global Markets has not set an entry threshold is an obvious advantage. Its clients can start out with just $1 and risk almost nothing.

 

1:400 in leverage

This broker provides a maximum leverage of 1:400, which is more than enough to suite all kinds of traders. Yet, it is not appropriate for all of them, especially for beginners. High leverage levels can lead to heavy losses in a matter of minutes. That is why we suggest that you learn the basics of margin trading and risk management before you start trading.

 

 

Cardiff Global Markets Disadvantages

 

Spreads not indicated

As we mentioned above, Cardiff Global Markets has not announced the spreads it offers, which leaves a bad impression, although the spreads are, in fact, good. All decent brokers indicate their spreads as a part of their transparent pricing policy.

 

No CFDs on stocks and cryptocurrencies

Although this broker offers around 60 forex pairs, its CFD offering is not that impressive. Actually, two popular asset classes are missing – CFDs on stocks and on Bitcoin and other cryptocurrencies. If you are keen on trading in Bitcoin, here is a list of brokers that offer BTC trades, and are also duly licensed.

 



>> Trade Bitcoin with a regulated forex broke r<<

 

 

Conclusion

 

Cardiff Global Markets seems like a good choice of a broker. First, it holds an license from the Australian Securities and Investments Commission. Second, the trading conditions it offers on the renown MT4 are quite good: low spreads, reasonable commission fees and high leverage levels. Moreover, the broker has not set any minimum deposit requirement.

 

When trading with a broker regulated by ASIC, your funds will be safe. The commission enforces a set of strict rules on the firms it oversees, including segregation of clients’ funds. On top of that there is a minimum capital requirement of AUD 1 million, before a broker can apply for the license, which serves as a deterrent for most scammers. Unfortunately, Australian regulation doesn’t provide a Compensation Scheme - a mechanism, which guarantees client funds, in case their broker becomes bankrupt. 

 

 

>> More brokers regulated in Australia <<

 

 

The advantages and disadvantages of Cardiff Global Markets in a few words:

 

Pros Cons
Regulated in Australia (ASIC) Spreads not indicated
Competitive spreads No CFDs on stocks and cryptocurrencies
MT4 supported  
No minimum deposit requirement  
High leverage provided  
Latest news about Cardiff Global Markets
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Traders` reviews for Cardiff Global Markets

Spread

Pros

Cons

 

 

Slippage

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Cons

 

 

Requotes

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Cons

 

 

Price feed

Pros

Cons

 

 

Platform

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Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

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Cons

 

 

Summary

Pros

Cons

 

 

open account send document

im register and send document 1 week

no more email from them

im send email agian asking for information

but they not replay me

bad support

bad support 09/18/2018
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