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CFD World Review - is it scam or safe?

CFD World review - Is cfdworld.com scam or good forex broker?

RATING: 3 / 0 REVIEWS CFD World
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CFD World is a broker based and regulated in Cyprus by the Cyprus Securities and Exchange Commission (CySEC) – a respected institution, wherefrom many European brokers have obtained their licenses as well. CFD World offer includes over 60 currency pairs and many CFDs as well as physical shares on the MetaTrader5 platform. For more information about the broker's offer you can check the following paragraphs.

 

Trading account Min. deposit Max. leverage Spread

Standard Account

$250 1:30 3 pips

 

CFD World Advantages:

 

Regulated in Cyprus

 

CFD World is one of the brand names of Goldenburg Group Limited, a Cyprus Investment Firm (CIF) supervised and regulated by the Cyprus Securities and Exchange Commission (CySEC) with CIF Licence No 242/14. Here you may take a look at their license:

 

 

As we already noted CySEC is one of the leading regulators in EU, which grants the broker the right to operate in any country of the Union. 

 

The regulatory regime imposed by CySEC is rigorous. CySEC brokers are obliged to meet strict requirements, among which to hold a minimum operational capital of at least 730 000 EUR, to keep their clients money in a segregated, protected form creditors account, to provide them with a negative balance protection, to file regular reports, to allow external audits and to participate in the Investment Compensation Fund, which basically insures all trading accounts for up to 20 000 EUR. Here you may check our list of brokers, licensed by CySEC as well:

 

>>Forex brokers in Cyprus<<

 

An extensive list of trading instruments, including physical shares

 

The choice of trading instruments with CFD World is truly impressive – over 60 currency pairs, many of which exotic or minor like USDBRL, USDCNH, USDCZK, USDDKK, USDHKD, USDHUF, USDMXN, USDNOK, USDPLN, USDRUB, USDSEK, USDSGD, USDTRY and USDZAR, as well as CFDs on various assets like cocoa, coffee, cotton, sugar, corn, soybean, wheat, aluminum, copper, nickel, zinc, Brent, WTI Crude, Natural Gas, precious metals like silver, gold and platinum, 15 indices and stocks. On top of that CFD World offers physical shares, which you can buy in exchange of a 2% annual commission. No crypto assets are available however, so here you may also check our list of brokers, trading with bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Standard minimum deposit requirement

 

At CFD World you can start trading with 250 USD, which is what most brokers require as a minimum deposit as well. 

 

Still, bear in mind that with some big well known brokers like FBS and IG you will be able to open a trading account with just 5 USD or so.

 

MetaTrader5 supported

 

MetaTrader5 is the successor of the classic MetaTrader4 platform developed by MetaQuotes Software. The platform is equipped with all the useful features traders are well acquainted with on the MT4 – the advanced charting tools, the numerous market indicators and the trading robots also known as Expert Advisors, with the help of which one can easily run algorithmic trading sessions. Unlike MetaTrader4, however MetaTrader5 allows its users to execute trades on different financial markets (including exchange-traded stocks) through a single account. Here you may check our list of brokers supporting the platform as well:

 

>>MT5 Brokers<<

 

CFD World service is supported in 14 languages

 

Along English the CFD World website is supported in Swedish, Spanish, Slovak, Serbian, Russian, Portuguese, Polish, Mongolian, Latvian, Korean, Japanese, Italian, Indonesian, Hungarian, Hebrew, Greek, German, French, Estonian, Dutch, Danish, Czech, Croatian, Chinese, Bulgarian, Vietnamese and Turkish.

 

CFD World Disadvantages:

 

Higher spreads

 

Honestly, we are not impressed by the spreads advertised by CFD World. 3 pips for the benchmark EURUSD spread is about two times higher than the levels traders usually find attractive with a standard account. So here you may also check our list of brokers offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Conservative leverage

 

The leverage offered by CFD World is in line with the latest guidelines of the European Securities and Markets Authority (ESMA) –  up to 1:30 for forex pairs and 1:20 for other CFDs. If you are an experienced trader however, and you can prove that, you might be offered leverage as high as 1:100.

 

Few payment methods

 

This counts as a disadvantage - CFD World accepts payments only with credit and debit cards like VISA and MasterCard and bank wire. Popular e-wallets like Neteller and Skrill are not accepted.

 

Also, the minimum withdraw amount is 250 USD and withdraws in general are allowed only with a wire transfer.

 

Conclusion:

 

CFD World is a broker, with which your money will be safe. They offer a comprehensive selection of trading instruments, as well as a reliable trading platform – the MetarTrader5. Their spreads however are somewhat higher for our taste and the payment options they accept are few.

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Traders` reviews for CFD World

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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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