CedarFx

CedarFX offers a unique package - zero commission trades, a good selection of investments, and a means to help the fight against climate change. Wait, what?

Do you want to start trading forex?

If you do, you might find that it isn’t always easy to start. Not only do a lot of brokers require hefty minimum deposits, but plenty of them are very selective in terms of what countries they offer their services in. On top of that, high fees and commissions can easily eat into your profits if you’re not using a large account to trade.

CedarFX’s approach to things is the opposite of everything we’ve just mentioned. The brokerage offers zero-commission trading, low spreads, and global access. So, what’s the catch?

This is an unregulated, offshore brokerage. If that’s sounding any alarms in your head right now, it should – fraud is rampant when it comes to unlicensed, offshore brokerages. However, CedarFX is a legitimate brokerage – there’s no scam involved, but your investments still won’t be protected by government institutions.

This is a young business – we’re sure that acquiring a license is just a matter of time for CedarFX, but there’s no going around this one unpleasant fact. The second catch is that all assets that can be traded via this platform are traded via contracts for difference – CFDs.

CedarFX is an interesting blend of features. It’s accessible and globally available, but the lack of research might be a dealbreaker for some advanced traders. The broker offers a powerful platform, good charting tools, and very low spreads – but the investment selection and access to different markets will be a bit lacking for seasoned forex investors.

This is a pretty unique brokerage – there’s no way to neatly put it in one category or another. But there are a lot of things going for CedarFX – you’re just going to have to read our review to figure out if it would be a good choice for you.

Fast Facts

• Regulation: N/A

• Minimum Deposit: $10 to $50

• Demo Account: Yes

• Asset Coverage: 7 major currency pairs, 21 cross pairs, 27 exotic pairs, 35 cryptocurrencies

• Best For: Traders familiar with CFDs looking for a low-cost brokerage

What is CedarFX?

CedarFX is a forex brokerage based in Saint Vincent and the Grenadines. In the short amount of time that it has been in business, it has managed to generate quite a lot of buzz by offering commission-free trading, as well as a way to automatically and seamlessly contribute to reforestation efforts.

This broker focuses primarily on trading via contracts for difference (CFDs) and has a pretty wide selection of cryptocurrencies that clients can trade. All of that sounds wonderful, and it is – but the brokerage also has a few drawbacks that we’ll be covering in-depth in this review.