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CBFinvest Review - is it scam or safe?

CBFinvest Review - Is cbfinvest.com scam or good forex broker?

RATING: 3.1 / 0 REVIEWS CBFinvest
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CBFinvest is a CySEC regulated forex and CFD broker offering five account types on a web-based platform. In the following review you can check the trading conditions offered by the broker.

 

Account type Min. deposit Max. leverage Spreads
Mini Account $10 1:200 3 pips, fixed*
Bronze Account $300 1:200 3 pips, fixed*
Silver Account $1000 1:200 3 pips, fixed*
Gold Account $3000 1:200 3 pips, fixed*
VIP Account $5000 1:200 3 pips, fixed*
* as tested with a demo account

 

CBFinvest  Advantages:

 

Sound regulation

 

CBFinvest operates as a brand of Spot Capital Markets Ltd, a Cyprus Investment Firm, authorized and regulated by the Cyprus Exchange Commission (CySEC) – one of the most trusted financial authorities worldwide. Spot Capital Markets Ltd also operates CFD House and Cardinal Markets.

 

Sound regulation provides traders with sufficient security about their investment and is crucial for the credibility of the broker. CySEC regulated brokers for example have to follow strict financial and ethical rules and have to keep all their clients' money in a segregated, protected form creditors account.

 

Further more CySEC brokers are obliged to participate in the Investor Compensation Fund for Customers of Cyprus Investment Firms, which guarantees all trading capital of up to 20 000 EUR in case the broker goes insolvent. Here you can check more brokers also regulated by CySEC:

 

>>CySEC regulated broker<<

 

You can open an account with just 10 USD

 

With CBFinvest you can open a Mini Account with just 10 USD and this is great. For the more advanced accounts the minimum deposit grows respectively to 300 USD for a Bronze Account, 1000 USD for a Silver Account, 3000 USD for a Gold Account and 5000 USD for a VIP Account.

 

Good leverage

 

The maximum leverage offered by CBFinvest is 1:200, which is basically enough to accommodate even the most aggressive trading strategies. Still one can find even higher leverage on the market. Here you can check our list of brokers, offering leverage of up to 1:500 and above:

 

>> Brokers offering at least 1:500 in leverage <<

 

Various account types

 

CBFinvest  has five account types – Mini, Bronze, Silver, Gold and VIP Account. The broker however does not offer a swap-free, Islamic account where you do not have interest on positions left open over night. 

 

The idea for an Islamic account evolved, because Muslim traders are not allowed to give or take interest for a transaction. Here you can check our list of brokers also offering their clients Islamic accounts:

 

>>Brokers offering swap-free accounts<<

 

Various payment methods

 

With CBFinvest you can deposit or withdraw funds via credit or debit card, bank wire and Skrill. However other major e-wallets such as Neteller and PayPal are missing, so here you may check our list of brokers, where you can pay with PayPal:

 

>>PayPal Forex Brokers<<

 

Also have in mind that the minimum withdrawal amount is the equivalent of 50 EUR.

 

Support in five languages

 

Besides English, CBFinvest has a Deutch, Spanish, Hungarian and Romania version of its website. The broker also provides 24 hour online chat support.

 

CBFinvest Disadvantages:

 

Uncompetitive spreads

 

When tested with a demo account the EURUSD spread was fixed at 3 pips, which is basically twice the level we are used to see with a standard account. Here you can check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Few forex pairs

 

CBFinvest offers just 18 basic forex pairs, with no exotic currencies at all. We miss also commodities, stocks and indices. Still the broker offers CFDs on gold and silver, as well as a couple of crypto currencies – namely Bitcoin,  Ethereum and Litecoin. Here you can check other brokers, which also offer CFD on Bitcoin:

 

>>Bitcoin Forex Brokers<<

 

No MetaTrader4 available

 

CBFinvest offers its clients a web based trading platform, which, though with user-friendly interface and cool looking charts, lacks some of the basic functionalities traders are used to with classic platforms such as the MetaTrader4. 

 

MT4, which is undoubtedly the most popular and widely used trading platform, has more than 50 in-build market indicators, while the CBFinvest web platform has only 9. 

 

 

Also we miss the option for automated trading, which has made MetaTrader4 so popular in the first place. Not only that the platform allows you to run trading algorithms, but also it allows you to modify and even compile them by yourself. All that you can do on a specially designed scripting language - the MQL4. 

 

Besides, you can even run simulations, using historic data to test your strategy before trying it in real trade. Here you can check our list of brokers, also offering the MetaTrader4:

 

>>Find other MT4 brokers here<<

 

Conclusion:

 

CBFinvest is a CySEC regulated forex broker, where you can open an account with just 10 USD and even trade CFDs on a couple of crypto currencies with a user friendly web-based platform and good leverage. On the negative side we should note that although you can choose between five account types, the spreads on the Demo account were not impressive and we do not know what the broker is offering with its premium accounts.

 

Still, trading conditions put aside, we want to stress again, that this is a properly regulated broker and you can feel totally secure about your investment. 

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Traders` reviews for CBFinvest

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