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CFI Review - Is it scam or safe?

CFI Markets Review - Is cfifinancial.com.cy scam or safe?

RATING: 3 / 0 REVIEWS CFI
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Trading Accounts

 

Account type Minimum deposit  Minimum trade size Maximum leverage* Spreads
Micro None 0.01 (micro lot) 1:200 from 2.3 pips
Hybrid None 0.1  (mini lot) 1:200 2 pips, fixed
Elite $25 000 0.1  (mini lot 1:200 from 0.3 pips + 6 USD/Lot
VIP $50 000 0.1  (mini lot 1:100 from 0.3 pips + negotiable commission

 

*This is the maximum leverage provided to professional clients. Retail clients, on the other hand, can use leverage up to 1:30, in line with ESMA’s guidelines.

 

Clients of Credit Financier Invest or CFI (Formerly CFI Markets) can choose among the above accounts to trade in forex and various CFDs, including on cryptocurrencies, on the MetaTrader 5 platform.

 

 

The Company

Credit Financier Invest (CFI) is the trading name of CFI Markets Ltd., a Cyprus-based company, licensed and regulated by CySEC. 


In the beginning of 2016 it was announced that Mr. Hisham Mansour, former founding partner and CEO of MIG Bank Switzerland, has become a partner in CFIM through the newly established CFI Group Holding Ltd., owned equally by Mr. Mansour’s company and CFI shareholders The Group Holding will own a great majority of CFI Markets Ltd.

 


Security of Funds


CFI Markets Ltd. is regulated by the Cyprus Securities and Exchange Commission (CySec) and therefore is also a member of the Investor Compensation Fund, which means that claims of CFI Markets’ clients are covered to a maximum of 20 000 EUR each. If you intend to invest more, maybe you should consider a brokerage regulated by the UK’s Financial Conduct Authority (FCA), which are under the umbrella of Financial Services Compensation Scheme providing a maximum compensation cover of £50,000 per person per regulated company.


The broker is also regulated under the Markets in Financial Instruments Directive (MiFID) in regards to offering cross border services within the EU under the MiFID Passporting Regime, allowing companies regulated in their "home state" to provide services to customers in other EU member states.

 


Trading Conditions


Minimum initial deposit
The two basic accounts of CFI have no minimum initial deposit requirement set, so one can start out with just a couple of bucks.


Spreads & Commissions

As for spreads, CFI offers both floating and fixed ones. The fixed spreads amount to 2 pips on EUR/USD, which is in line with the industry’s average. Typical floating spreads with this broker also amount to around 2.5 pips on EUR/USD, which is a bit high.

 

Leverage
As to leverage, the broker offers flexible levels up to 1:200. However, these are available only to professional investors. As most of you probably know, ESMA introduced a cap on leverage (1:30) which applies to all brokers licensed in the European Union and the EEA.


Trading Platform

 

CFI used to offer the most popular trading platform MetaTrader 4 (MT4), but later switched to its newer version, the MetaTrader 5. The latter is available as a desktop download, web version, as well as mobile trading applications for iOS and Android.

 

 

MT5 is a multi-asset platform suitable for trading in the forex, stocks, futures and CFD markets. As most MT4’s indicators and Expert Advisors (EA) are not supported on the MT5 platform, the latter is still in the shadow of its predecessor. However, a number of enhancements were made to the MetaTrader 5 in the recent years, including the adding of hedging feature. As a result, a lot of brokers are lately switching to the MT5.

 


Methods of Payment


The modes of payment available to CFI’s clients are three basic types: Credit/Debit cards (Visa, MasterCard and Maestro accepted), wire transfer and e-payment methods, including NETELLER, Skrill, and PayPal

 

 

Bottom Line


CFI (Cyprus) is a well-regulated broker offering wide range of financial instruments for trade on the MetaTrader 5 platform under competitive trading conditions

 

Pros Cons
CySec-regulated  Only one trading platform available – MT5
Various payment methods Mediocre spreads
MT5 platform available  
Rebate bonus on Demo accounts  

 

Latest news about CFI
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Traders` reviews for CFI

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Requotes

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Price feed

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