de | cn | ru

CF Group Review - is it scam or safe?

CF Group Review - is forexcf.com scam or good forex broker?

RATING: 1 / 1 REVIEWS CF Group
CF Group is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts and Conditions

 

Trading account  Min. deposit  Min. trade size Max. leverage Min. Spread
Mini  $70 0.01 1:500 1.6 pips
Standard  $200 0.01 1:500 1.2 pips
Platinum $5 000 0.01 1:500 1.0 pips
Buffet  $20 000 0.5 1:500

0 pips + USD 10-12 / lot

 

CF Group claims to offer 4 account types for trading in forex and CFDs. Although the trading conditions seem comparatively attractive, we have a lot of concerns regarding this broker. You may find all the details on CF Group’s offer and regulatory status below.

 

 

CF Group Advantages

 

Reasonable deposit, high leverage

According to the information on the broker’s website, one can open an account with CF Group by depositing $70, which is by no means a high initial deposit. On top of that, the broker offers leverage up to 1:500. Such leverage levels would suit even the most aggressive trading styles, but don’t feel obliged to use it to the fullest. Remember, the higher the leverage, the greater the risk exposure.

 

Solid choice of tradeable instruments

It appears that clients of CF Group can trade in the most popular cryptocurrency CFDs, such as Bitcoin, Ethereum, Ripple, EOS, and Bitcoin Cash, along with some forex pairs, and CFDs on commodities, precious metals, and indices.

 

Keep in mind, however, that dealing with unregulated companies such as CF Group involves a significant level of risk.

 

 

>> Our list of reliable forex brokers offering Bitcoin <<

 

 

CF Group Disadvantages

 

Not regulated, despite the claims

CF Group was allegedly founded in 2008 and has two subsidiaries: CF GLOBAL UK LIMITED and CF GROUP LIMITED. The website of the broker claims that CF GLOBAL UK LIMITED is regulated by the Financial Conduct Authority (FCA) in the UK, while the other company is registered as a Financial Service Provider in New Zealand.

 

 

We checked the FCA register and, as it turned out, CF GLOBAL UK LIMITED is currently not regulated in UK. This is a major red flag and should be enough to keep investors away from CF Group.

 

New Zealand’s FMA warned against it

While CF GROUP LIMITED is present in New Zealand’s register of financial services providers, this is by no means a valid forex broker license. All the more so, considering that the Financial Markets Authority (FMA), has alerted the public about CF Group. The regulator advises investors to be cautious, as the Android app of the broker “is not associated with the New Zealand registered financial service provider CF Group Limited”.

 

 

MT4 not supported

CF Group uses a proprietary platform, available as a desktop version and mobile apps. We could not test it, and as we already mentioned, NZ’s FMA warned against using the Android app.

 

For sure, many traders will miss the availability of the ever popular MetaTrader 4 (MT4). The MT4 has an intuitive interface, top-notch charting and is especially popular for its Expert Advisors used for automated trading. Besides, its programming language is quite easy and tech savvy traders can develop EAs and indicators of their own.

 

 

>> Find the best MT4 brokers <<

 

 

Falsely claims to have won awards 

In the About us section on the CF Group’s website the company claims it has received a number of awards, without mentioning any details. This is yet another false claim of this broker that makes it seem even more unreliable.

 

 

Conclusion

 

CF Group is a shady broker that makes a lot of false claims and cannot be trusted. You’d better select among forex and CFD providers that are indeed authorized by UK’s FCA – on of the most trustworthy regulators worldwide.

 

 

>> Trade with a broker licensed in the UK<<

 

 

To sum up the negative and positive sides of CF Group:

 

Pros Cons
Reasonable deposit, high leverage Not regulated, despite the claims

Solid choice of tradeable instruments

New Zealand’s FMA warned against it
  MT4 not supported
  Falsely claims to have won awards 

 

Latest news about CF Group
No news about CF Group . Check back later.
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $10 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
Australia ASIC MT4, MT5 $100 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for CF Group

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

CF Group withdrawal

I have tried to withdraw funds in my account since 2019-03-21
I was told it takes 7 to 10 days at most to withdraw.
I was assured that I could withdraw funds at any time by your Colleague David Vargas

it is now 2019-04-15 - nearly 3 weeks
Please advise why I have not received my money.

Thanks you
James Macro

James Macro 04/15/2019
de | cn | ru