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CEO Trading Review - is it scam or safe?

CEO Trading Review - Is ceotrading.com scam or good forex broker?

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

RECOMMENDED FOREX BROKERS


Trading Accounts & Conditions

Account type Minimum deposit Maximum leverage Minimum trade size Spread
Mini $1,000 1:500 0.01 From 2.3 pips*
Standard $30,000 1:200 0.10 From 2.3 pips*
Pro $60,000 1:50 0.10 From 2.3 pips*
Premium $120,000 1:25 0.10 From 2.3 pips*

*this was what we saw, when testing the demo account, actual conditions may bed different. 

 

CEO Trading is a forex broker broker, which offers the account types described above. They are obviously targeting wealthy clients, but will their services be of high quality? Read the full review to understand.

 

CEO Trading Advantages

 

Trading with MetaTrader4  

The choice of trading platform is definitely an important factor when comparing brokers, although others are much more significant. Despite being very old (especially for a software product) MetaTrader4 is a top-notch platform. The standalone desktop application is its true strength, while mobile and web-based versions are also provided. The key selling points of MT4 are the charting package, lightness on the hardware and the coding environment. New indicators and trading robots for the system can be (and have been) developed. They can be accessed via the built-in marketplace and some of them are free. With all of that in mind, here is a preview of this broker’s platforms

 


The MT4 platform at CEO Trading

 

>>A long list of brokers offering MT4<<

 

High and variable leverage 

The leverage ratios offered by this broker are very attractive and distributed in a smart way. The bigger your trading account, the lower the ratio goes. This is a well thought-out policy, which implements some features of risk management. That being said, you must learn a bit about the key principles of position sizing and how much you are willing to loose per trade, before you begin your journey in the depths of financial markets.

 

CEO Trading Disadvantages

 

Not regulated

CEO Trading is owned by the CEO Trading International Corporation, incorporated in Belize. While the local authorities have put some efforts in recent times to escape from the country’s image as an offshore destination, this particular broker isn’t registered with the local watchdog. The International Financial Services Commission (IFSC) is probably the most credible amongst the popular exotic regulatory agencies, but this doesn’t really matter for the purposes of this review.

 

High deposit requirements

The levels for the various account types, set-up by this broker truly are targeting CEOs. A lot of brokers have lowered the entry barrier substantially (or simply removed them altogether) in pursuit for new clients.

 

Target spread not specified

Having different account types only makes sense, if you offer different conditions and clearly specify them on the website. The entire premise of this system is to convince someone who is willing to start trading to deposit a bit more, to get the tighter spreads. Still, never invest more money than you can afford to loose in your trading account, even if seems worth it on paper.

 

High spreads in demo mode

We had to test CEO Trading’s platform to get an idea of the cost of trading with them. While real accounts may get slightly different conditions (which will defy the purpose of the demo account in itself, but that’s another topic), we weren’t satisfied with what we saw. During one of the most liquid times of the day, the EUR/USD spread didn’t fall below 2.3 pips and occasionally went as high as 2.5. This is simply not near the levels provided by other companies in the field.

 

>>Compare the spreads provided by the industry leaders<<

 

Does not support EAs

This is one of the few brokers we have seen to implement such a restriction. We aren’t certain what’s the reasoning behind it.

 

Only bank transfers accepted

 CEO Trading only accepts Bank Transfers, as a method of payment. They mention the deposit being made to a bank in Thailand, which is the first (and only) association with the country on the entire website. They are apparently focused on clients from across the globe, instead of the domestic marekt.

 

Conclusion

 

CEO Trading is an unregulated forex broker, registered in Belize and having certain ties to Thailand. While their deposit requirements are rather high, the trading conditions aren’t impressive by any means. If the company is targeting CEOs, at least the ones with some knowledge of the financial services sector would probably pass their offer.

 

The most important factor when comparing forex brokers should be their regulatory status. Legal systems may vary across the world, but one of the most well-renowned financial watchdogs is the UK’s Financial Conduct Authority. Companies under its oversight have to follow a lot of rules, with two of them being most crucial for the safety of your investment: 

 

>>Find your FCA regulated broker here<<

 

 

-segregation of client funds – this means all the traders’ accounts aren’t mixed up with the company’s own operating balances. In a way, this prevents the simplest forms of fraud.

 

-bankruptcy protection – this is offered by the Financial Services Compensation Scheme (FSCS), a mechanism, similar to an insurance company. 

 

A summary of CEO Trading:

 

Pros Cons
Trading with MetaTrader4 Not regulated
High and variable leverage High deposit requirements
  Target spread not specified
  High spreads in demo mode
 

Does not support EAs

  Only bank transfers accepted

 

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Traders` reviews for CEO Trading

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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