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CfdPremium Review - is it scam or safe?

CfdPremium Review - Is cfdpremium.com scam or good forex broker?

RATING: 1.1 / 8 REVIEWS CfdPremium
CfdPremium is an offshore broker. Your money is not safe.

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CfdPremium is a forex and CFD broker, offering its clients five different account types on two trading platforms. If you are considering about opening an account with them be sure to read this review first.

 

Account type Min. deposit Max. leverage Spreads
Initial Account $500 1:400 2 pips, fixed
Regular Account $1000 1:400 2 pips, fixed
Intermediate Account $2500 1:400 0,5 pips, floating
Advanced Account $10 000 1:400 0,5 pips, floating
Superior Account $25 000 1:400 0,3 pips, floating

   

CfdPremium Advantages:

 

Good variety of account types

 

CfdPremium is offering five account types on the MetaTrader4 and Sirix trading platforms. The Initial and the Regular Accounts are offered on the Sirix platform and the minimum trading size with both the accounts is 0,01 lot or 1000 base currency units. The Intermediate, the Advanced and the Superior accounts are offered with the MetaTrader4 platform as well as with Sirix. The minimum trading volume with the three premium accounts is 0,1 lot or 10 000 base currency units.

 

Various trading instruments

 

CfdPremium offers 64 forex pairs including exotic currencies like Russian Rubla, Swedish Krone, Singapore Dollar, Hong Kong Dollar, Mexican Peso, Danish Krone,  Norwegian Krone, Turkish Lira, South African Rand, Polish Zloti, Czech Krona, Hungarian Forint and Israeli Shekel  as well as CFDs on spot metals, indices, oil and natural gas. There are no CFDs on crypto currencies however. Here you can check our list of brokers trading with Bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Good maximum leverage

 

Maximum leverage of 1:400 is available for all the CfdPremium accounts and that should satisfy even the most aggressive trading strategies. Still, keeping in mind that higher leverage is associated with higher risk, 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 <<

 

Competitive spreads with the premium accounts

 

We learn form the CfdPremium website that the spreads with the Initial and the Regular accounts are fixed and start at 2 pips. With the Intermediate and the Advanced accounts the spreads start at 0,5 pips and are floating, while with the Superior Account the spreads start as low as 0,3 pips. In the same time with the  Intermediate, the  Advanced and the  Superior accounts you can have fixed spreads as well, starting form 1 pip, 0,7 pips and 0,4 pips respectively. CfdPremium says they do not take commission for the trade. 

 

However we were not able to taste the trading conditions with a Demo Account as it was currently down. Here you may want to check our brokers, offering similarly tight spreads:

 

>> Lowest spread forex brokers<<

 

Various payment methods

   

With CfdPremium you can deposit or withdraw funds via credit or debit Cards such as Visa and Mastercard, e-wallets, including WebMoney, Skrill, Neteller, PayPal, QIWI Transfer, PayPal, Payeer, OKPay and Klarna, as well as a wire transfer and Bitcoin Transfer. Here you can check our list of brokers, which also accept Bitcoin as payment:

 

>>Forex Brokers Accepting Bitcoin<<

 

MetarTrader4 and Sirix available

 

CfdPremium offers Sirix and MetaTrader4, but the latter is available only with the premium accounts – the Intermediate, the Advanced and the Superior Account. And while Sirix is a user friendly platform, especially well suited for those who like the idea of  social trading, MetaTrader4 is definitely the platform of choice for most professional traders. 

 

It has more than 50 in-build indicators and diverse charting tools to explore the markets. The platform however is mostly appreciated for its ability to support trading algorithms, which can be compiled and modified to accommodate even the most intricate strategies. Here you can check our list of brokers, also offering the MT4 platform: 

 

>>Find other MT4 brokers here<<

 

CfdPremium Disadvantages:

 

Misleading information on the regulatory status

 

CfdPremium has an address and a contact number in the UK. Apart form that the broker says on its website they “own a Financial Services Board regulatory mechanism”, literally.

 

 

How  CfdPremium can “own a Financial Services Board regulatory mechanism” is another story, but as a matter of fact FSB is the former name of the South African financial regulator – the Financial Sector Conduct Authority (FSCA). So we diligently checked the FSCA registers and were not able to associate CfdPremium  with any company registered there.

 

That is why we will review CfdPremium as an unregulated broker and that significantly lowers its reputation. 

 

Brokers, which are not supervised by one of the established financial regulators, such as the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) have very low credibility.

 

Licensed brokers on the other hand have to abide by strict financial and ethical rules, among which to maintain good fiscal adequacy ratio and to keep all clients funds in a segregate, protected from creditors account.

 

Also FCA and  CySEC regulated brokers have to participate in traders' money insurance schemes. The FCA backed Financial Services Compensation Scheme for example guarantees that traders can receive back up to 50 000 GBP of their capital in case the broker goes insolvent. A similar scheme with CySEC insures up to 20 000 EUR. Here you can check our list of FCA regulated brokers:

 

>>Find FCA regulated Brokers here<<

 

Excessive minimum deposit requirement

 

With CfdPremium you can open an Initial Account with 500 USD, a Regular Account with 1000 USD, an  Intermediate Account with 2500 USD, an Advanced Account with 10 000 USD and for a Superior Account – 25 000 USD. In our view however a deposit of 500 USD for a standard account is too much as with many brokers you can open an account with 100 USD or less, while with some big names such as XM and FXTM the minimum deposit requirement is just 5 USD. 

 

Unusual withdraw requirements

 

The minimum amount you can withdraw with CfdPremium is 100 USD and in the case of a wire transfer there is a withdrawal charge of between 25 USD and 100 USD. Additionally the brokers will charge you 1,5% of any withdrawn amount.

 

Conclusion:

 

CfdPremium is a low credibility, unregulated broker with an unreasonably high minimum deposit requirement. And although the trading conditions with the premium accounts might look good, traders should think twice before trusting their money with companies that are not supervised by any of the well established financial authorities.

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Traders` reviews for CfdPremium

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

 

 

Scammed

I advise anyone who is thinking of using this company to stay well clear as they will promise you you the earth but when you want to withdraw your money you have no chance , they are thieves of the highest caliber . I have basically lost $11000 ,this has happened because Natasha Kline put $24000 into my account without my consent ,which meant that when I went to withdraw they then wanted me to deposit $6000 with a promise that I could withdraw all my monies , and when I didn’t she put on trades that had no chance of making money and has decimated my account, like I say they are thieves

Gordon colquhoun 12/24/2018

CfdPremium - My money not returned fpj84h

I spoke to Joseph Emily and Natasha Klein who all promised to arrange to send my money back to me weeks now. I cannot reach your office by telephone as it cuts ff as I call. I must the only Emily has responded to me several emails and promised (as did the rest) she would get in touch with the relevant department to arrange the return of my monies. I am a pensioner and this is all my savings and I needed the funds urgently. To date nothing. I am disgusted with the way this company is treating people and wants to keep all my savings (it no doubt seems) not to mention any growth on my investment. This has caused me great stress and to face the reality that I have been scammed like the other reviews I just read below. If I am wrong I will keep all concerned informed about this.

Desiree Seymour-Parris 12/17/2018

I was scam by CFDs premium

I start with $250 with Joseph with every event I was phone too invest more funds into my account I requested for Withdrawel of my funds they have excuses after excuses when I requested a Withdrawel. My next broker was Heather Pierce my second last request for Withdrawel I have to pay in by wire transfer $23000.00 to receive my funds I money was supposed be deposited in my in seven days it never happen.I contact CFD Premium spoken Ely I was told to wire $15000.00 to CFD Premuim on 13 November 2018 I was waiting for CFD premuim to deposit my funds into my account

Dear Mogamat,
Please find this as a Letter of approval.
We do understand your concerns but you must understand that the company has invested 80,000 USD of its own money in order to increase your profits and lower your risk in the account.
You currently have 145,076 USD in the account.
You will receive from CFD premium $161,500 in two wires to your standard bank account.
If you see after 5 business days that the money has not reached your account you can contact our regulators but you will receive every last dollar.

Mogamat Igshaan Hanslo 11/28/2018

Scam

I invested over $100.000.00 try to withdraw my money struggle two months every time I have to pay money to them to get my money to day I never received $1

Mi hanslo 11/27/2018

Cfd Premium lose all my money

I would like to tell you my story about CfdPremium

I started in small deposit of $250.00 and very fast after i found myself deposit $2k and $3k, in total i've invested $7050.00
I've worked the account slowly with small margin and after 6 months I had $18k in my account.

I wanted to withdrawal $4k because I needed and I received a call from my account manager Natasha Klein and she manage to cancel my withdrawal. Than I spoke to another guy "Joseph" is name and he wanted me to play with big investments, I said I'm not interested and when I asked to withdrawal again $5k someone open a trade on my behalf with big volume.

I asked my manager "Natasha" why and who and if that will effect the withdrawal but she said it will be sorted and it will not effect my withdrawal.

I did a mistake not to close the trades on a small lose (about $3k each) because I thought it will turn...3 days later I've lost all my money because it didnt turn my manager, Natasha told me not to worry and to trust her because they doing everything to fix it and everything will be ok...that was a mistake!!

I'm keeping telling myself that it will be ok and I will get my money back, well I hope to get the investment back..

Is anyone know if the register offices are correct? I will visit there if i need to

Please let me know

Danny 11/16/2018

Will not give me my money back

1 month since requesting my money back, not come back.

Rob 11/02/2018

CfdPremium is a scam broker, VIsa are not concerned at all

CfdPremium is a scam broker

My experience with CfdPremium was very similar to that of Robert Eady

I was researching Bitcoin one afternoon on my mobile phone, when I was contacted by Universemarkets.com with regards to investments. I was not too sure about investing at the time and requested time to reflect on it.

The daily phone calls then started encouraging me to invest an amount as little as $250 for a start, and see how it can grow. After many calls and a long deliberation I invested $250. I was then phoned by CfdPremium. this confused me no end, but was assured that they partner with Universemarkets.com and have thousands of investors who has extremely large portfolios which they manage.

This is when I was pressured into investing more money so that I can enjoy better Brokerage Fees and Spreads. This pressure was relentless. I eventually ended up by investing a further $2,000. This according a "senior account manager" by the name of Benjamin Levin was not enough and was still pressured to invest more to be part of an elite group of investors. This pressure was even more relentless than the previous occasions, and ended up adding another $4,000. After this investment I dug in my heels and refused to invest any further until I saw my account making profits as was promised.

Within a week my account grew to just under $10,000 and had many calls of encouragement and support as to the trades I should make. I was the requested to authorize Benjamin Levin and another broker by the name of David Becker to trade on my behalf. The trading these two conducted on my behalf reduced my account to $1,500.

I was then contacted by their "recovery unit". Simon Richards assured me that ALL my invests would be recovered in no time at all, and scheduled for a "specialist" to contact me on the 10th August 2018…….I am still waiting for that "specialist" to call me.

I have never recovered since.
I realized, and came to terms with the fact that I have lost a large portion of my investment.
I have phoned, emailed and requested a withdrawal of the balance and to close of my account.
I have had NO response.

At the time of writing this, I happened to open trading account and noticed that a trade had been placed on the 22 August 2018.

I DID not place this trade. and I have changed my password before the 22 August 2018. Very very SNEAKY.

I have since got in touch with VISA. Although their facilities are being used by these fraudsters like CfdPremium they are not concerned at all and suggest that I contact the financial institution that has issued the VISA Credit Card. This is where they give you the run around.
To my reasoning, they, VISA, are now complicit in this fraudulent activity.

Ebrahim-Allie EBRAHIM

Ebrahim-Allie Ebrahim 09/10/2018

CfdPremium is a scam broker

A friend sent me a link to Bitcoin Loophole robot trading software. I reviewed it and ended up contacting Universemarkets.com (later discovered to be a scam). I was then contacted by CfdPremium and made a $250 deposit with them. Next I was pressured to put more money in. I added 0.1BTC. They did two forex trades then asked for yet more money. They were very pushy. I added all my remaining crypto funds from Binance. 0.6BTC. I told them I could not afford to lose these funds. They said they were very conservative, never committed more than 20% to a trade and had insurance. During the first real trading session they took four forex contracts, all of which appeared to be against the market trend on the MQL5 platform. I emailed my concern that this would cause a disastrous loss. They ignored my email and took two further EUR/USD contracts. No stop losses were set and my account was annihilated. Their equal credit was also lost. Later they zeroed the account, apologized and said they would refund the account and trade it back to health. They then asked for further funds to assist. I added 0.066BTC. However, no action was taken. I accused them of deception and asked for my 0.066BTC to be returned. They got miffed and said they would, but didn't despite repeated requests, none of which were responded to. I accused them of scamming me and said their silence was admission of fraud. I suspect that they had adapted the demo MQL5 platform to appear as a live platform to provide a convincing pretense. I have emails and screenshots of the activity. The CfdPremium website is not fully functional. The insurance protection was bogus. The traders were Arthur McConell and his superviser Mathew Lawson (+442080892103). Previously I was successfully trading cryptos on Binance. This fiasco was a major setback for me.

Robert Eady 05/28/2018
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