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Casdaq Trading Review - is it scam or safe?

Casdaq Trading review - Is scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz Casdaq Trading
Casdaq Trading is an offshore broker. Your money is not safe.


Casdaq Trading says to be an independent broker, based in Hong Kong and New York, which offers a choice of six, highly profitable, managed trading accounts.


Account type Min. deposit Max. leverage Spreads
Trial Managed Trading Account $500 n/a n/a
Bronze  Managed Trading Account $5000 n/a n/a
Silver  Managed Trading Account $20 000 n/a n/a
Gold  Managed Trading Account $50 000 n/a n/a 
Platinum  Managed Trading Account $100 000 n/a n/a 
Diamond  Managed Trading Account $250 000 n/a n/a 


And although this may sound like a nice investment opportunity, there are a number of serious questions about the legitimacy of the broker, starting with the fact that their website is virtually anonymous, they have no legit license, they lie about having received a number of international awards, and they offer managed account while acting as market makers.


Casdaq Trading Advantages:


We always  try to come up with any possible advantages about a broker we investigate, and yet in the case of Casdaq Trading there is simply nothing that might be of any benefit to their clients.


Casdaq Trading Disadvantages:


Anonymous website, no license


As we already noted, despite the contact addresses in Hong Kong and New York, the Casdaq Trading website is virtually anonymous. We are not sure what is the name of the company behind the broker, nor where it is incorporated.


Besides, if the broker really operates from the U.S. or from Hong Kong, it is supposed to be regulated by the local financial authorities.


In the case of the U.S., a company that wants to provide brokerage services to American citizens  should be registered with the U.S. Securities and Exchange Commission (SEC) and should be a member of the National Futures Association (NFA). 


And bear in mind that the regulatory regime in America is pretty demanding – a broker should hold at all times an operational capital of at least 20 000 000 USD – the same amount as required to register a bank in Switzerland. 


Still, we diligently checked the NFA registers for any trace of Casdaq Trading,  Casdaq Trade and  CICM(HK)CL (those are all the corporate details available on their homepage), but were unable to find any of them there.


And we tried the Hong Kong Securities and Futures Commission (SFC) as well and the result was the same. So basically what we are talking here is a unregulated, anonymous website that most probably operates as a scam.


Market maker offering managed accounts


Casdaq Trading quite boldly advertise their managed accounts. Here is the problem – despite what they say, as virtually all other brokers, legit ones including, Casdaq Trading is a market maker, which means they make money whenever traders lose. And if a market maker offers to manage your account, obviously it will be in a conflict of interest – they will have the incentive to lose your money in their own pockets.



Unusual withdraw conditions


Bear in mind that if you do deposit money with Casdaq Trading you will not be allowed to withdraw them for months depending on your account type – something that no legit broker will ever do. See for yourself:



With a legit broker you should be able to withdraw your funds whenever you decide, no questions asked. 


Falsely claims to be distinguished with international awards


Casdaq Trading claims to have won several broker awards and we decided to check this. It turned out that non of this is true. 


Illegally using corporate materials of a legit company


Furthermore Casdaq Trading illegally offers trading materials of XTF - which is a legit global research and advisory firm that evaluates Exchange Traded Funds (ETFs) - in an apparent attempt to mislead investors. Casdaq Trading has nothing to do with XTF.


MetaTrader4 not supported


Casdaq Trading offers a web based trading platform, which lacks many standard features that traders are used to with classical trading solutions like the MetaTrader4. We miss for example the option to run automated trading sessions, as well as some of the advanced charting tools MT4 is equipped with. Here you may check as well our list of brokers offering MetaTrader4:


>>MT4 Brokers<<


Excessive minimum deposit requirement


For their Trial Managed Trading Account, Casdaq Trading requires a minimum investment of no less than 500 USD – that is at least twice the amount most brokers would ask for with a starting account. On top of that with some big, well established brokers like FBS and IG you will be able to start trading with just 5 USD or even less.


No information about the payment methods


There is no information about the accepted payment methods on the Casdaq Trading website. Just bear in mind that most brokers accept payments with bank wire, credit or debit cards like VISA and MasterCard, and popular e-wallets like Neteller and Skrill. Here you may check our list of brokers, which do accept Skrill payments:


>>Brokers accepting Skrill<<




Casdaq Trading is an obvious scam – a unregulated, anonymous website, offering managed accounts, while acting as a market maker, which on top of that deliberately tries to mislead investors by claiming to be an award winning broker with registration in the U.S. and Hong Kong. 


We strongly advise you to avoid dealing with such websites and to trade only with legit brokers, licensed and authorized by reputable financial institutions like the he Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC).

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