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CFD Global Review - Is it scam or safe?

CFD Global Review - is cfdglobal.com scam or good forex broker?

RATING: 3 / 4 REVIEWS CFD Global
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Trading Accounts

 

Account type  Minimum deposit Minimum trade size Maximum leverage Spreads 
Standard $1000 0.01 1:200 3 pips, fixed

 

CFD Global offers its clients a single commission-free account type with leverage up to 1:200, fixed spreads and the option to trade in micro lots on the MetaTrader 4 platform. Clients who deposit more than $5 000 are entitled to some extra services (such as Premium Daily Analysis and Premium Customer Care).

 

Keep in mind that this broker does not accept citizens of Japan, Canada and USA as its clients.

 

The Company. Security of Funds

 

Company

Country

Regulation

Key Way Investments Ltd.

Cyprus

CySEC

 

CFD Global offers trading in 45 currency pairs, precious metals and CFDs on stocks, commodities, bonds and indices through the industry’s standard MetaTrader 4. 

 

CFD Global is the trading name of Key Way Investments Ltd., a Cypriot Investment Firm (CIF) licensed by Cyprus Securities and Exchange Commission (CySEC) in 2016.

 

CIFs are required to hold at least €730 000 as a proof of their financial stability and to keep client funds in segregated accounts, as well as to report to the Commission on a regular basis.

 

Furthermore, CySEC applies a compensation scheme as an additional guarantee to clients’ funds. All licensed brokers are members of the Investor Compensation Fund, which may cover a maximum of 20,000 EUR per person in the event of broker insolvency.

 

Besides, as Cyprus is part of the European MiFID regulations, all CySEC regulated are free to operate in all EU Member States. 

 

Trading Conditions

 

Minimum Initial Deposit

In order to open an account with CFD Global, traders have to invest a minimum of $1000, which is a comparatively high initial deposit. Yet, many Cyprus-based brokers require less. In order to open an account with FXTM, for example, one has to deposit just $5. The minimum initial deposit required by another Cypriot broker, HotForex, is $50.

 

Spreads & Commissions

CFD Global offers commission free-trading, as is usually the case with fixed-spread brokers. Unfortunately, this broker’s spreads are rather high, amounting to 3 pips for the EUR/USD pair. 

 

For purposes of comparison, HotForex provides spreads fixed at 1.8 pips on EUR/USD. For more information, you may look up real-time spreads of 15 leading brokers here.

 

Leverage

The maximum leverage level offered by CFD Global is 1:200. Such ratio is common for the FX market, yet the CySEC has proposed 1:50 as default leverage. According to the Cypriot financial watchdog, brokers offering “excessive leverage” to retail clients are most likely not doing it in the best interest of traders, because the higher the leverage, the greater the risk.

 

Nonetheless, many Cyprus-based brokers offer high leverage levels - for example, HotForex and FXTM both provides leverage up to 1:1000.

 

Trading Platforms

 

This broker supports the most widely used forex trading platform MetaTrader4 (MT4), available as desktop and mobile versions.

 

MT4 remains the preferred choice for most traders globally, as it provides a full array of trading tools and features: more than 50 built-in technical indicators, advanced charting package, a wide range of Expert Advisors (EAs) and extensive back-testing options for them. Traders can download ready-made or create their own EAs and let the program do all the work.

 

CFD Global’s desktop MT4. Click for larger image.

 

Methods of Payment

 

CFD Global supports a small range of payment methods - credit/debit cards & bank wire transfer. Popular e-wallets like Skrill and Neteller are not available with this broker.

 

Accepted currencies: USD, EUR and GBP. 

 

Conclusion

 

CFD Global is a Cypriot forex broker, offering trading in FX and CFDs on the popular MT4 platform. The main problem with this broker is the high cost of trading and besides, its offerings are quite limited: it provides only fixed spreads solely on one trading platform, e-wallets are not available as payment methods, nothing is mentioned on its website about VPS hoisting, account management services, etc. To sum up the above, here are the Pros and Cons with regards to this broker:

                                                                          

Pros Cons
Well-regulated High fixed spreads
Commission-free trading No choice of trading platforms
MT4 available  High initial deposit required
  No VPS hosting, PAMM services

 

 

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Traders` reviews for CFD Global

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

 

 

aggresive marketing

These guys dont give up. They keep on calling you to get you as customer. Somehow this gives me a bad feeling...

I started with 250 euro deposit and tested the withdrawal. This was ok. I had issues getting logged in, but solved now.

paul 11/09/2018

Aggressive way of marketing! Very rude!

The first time I got call and after I told them I was not interested and would appreciate if they would contact me only threw mail. They called another 3 times! Very upprofessional and weird way of doing business. Also, like someone els said here weird music in the background and very pushy in getting you as a customer. Also they claimed that the broker I had currently does not allow you to withdraw money from the account wich is an absolute lie. I would not put any of my money in a business like that and I would advise everyone to avoid this company.



Scott 10/29/2018

High initial deposit

Your initial deposit fo 1000dollars is far too high for a small investor like me as much as I would like to join I cannot afford that you should tell people up front then they would not bother you I did not know this until one of your lady colleagues told me

Robert Booth 04/18/2018

Spam, endless spam

I will admit, I ave not personally used CFD global, however they did get my phone number via a website I joined recently. On average I get 3-4 calls a day from their sales team trying to get me to deposit money with them. My 1st impression is that this is not in anyway a professional company, as their phone calls usually feature loud gangsta rap music, crying children or loud conversation in the background giving the impression they have outsourced their staff, or do not have offices in the 1st place. My 2 cent worth: You get what you pay for, and financial security is worth paying for. Avoid all discount brokers!!

James L 04/12/2018
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