CFX Market Review Is Cfxmarket.com A Scam Or Legit Broker

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CFX Market Is it scam or safe?

Trading Accounts and Conditions

Trading account Min. deposit Max. leverage Spread
Micro $500 1:500 N/A
Basic $1 000 1:600 N/A
Bronze $2 500 1:800 N/A
Silver $4 500 1:1000 N/A
Gold $7 500 1:1000 N/A
Platinum $12 000 1:1000 N/A
VIP $25 000 1:1000 N/A

Capital Forex Market (CFX Market) says to be an international forex trading firm dealing in over-the- counter forex contracts. The broker offers its clients the above account types and trading on two great platforms – the MetaTrader4 and MetaTrader5. As good as all of this may sound, we have serious concerns about this broker and the details will be highlighted below in this review. Make sure you read it prior to investing with CFX Market.

CFX Market Advantages

Both MetaQuotes’ platforms available

As was already mentioned, CFX Market supports both MetaQuotes’ platforms, which are some of the most widely-used forex trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms offer great charting package, fast speed of execution and convenient programming environment. The latter allows users to trade with custom indicators and automated trading systems, simply known as Expert Advisors.

Very high leverage

Furthermore, this broker provides high leverage levels, reaching 1:1000 on some account types. While we generally consider the availability of such high ratios an advantage, keep in mind that using high leverage is dangerous.

CFX Market Disadvantages

No financial regulation

CFX Market appears to be based in the UK, however, we did not come across any explicitly-stated regulation on the broker’s website. So, we checked on the online registry of the UK’s Financial Conduct Authority (FCA), as all forex brokers operating in the country should be licensed by it or by another EU financial regulator.

So, we found out that the company behind the brand, Capital Forex Market (Pte) Ltd., is not authorized by the FCA, which leads us to conclude that the broker does not fall under any regulatory oversight whatsoever.

Spreads not disclosed

Another disadvantage of this broker is the lack of clarity on the cost of trading. CFX Market has not announced any reference spreads on its website, which is always a sign of trouble, as their clients have the right to know what their trading costs would be in advance.

As most of you know, most brokers offer a spread within the average range of 1.0 – 1.0 pips on EUR/USD. Here is a list of brokers with good pricing that also hold legitimate licenses:

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Unbranded versions of the MT4 and MT5

So, we downloaded the MT4 offered on the broker’s website in order to test it and see the demo spreads. Unfortunately, we got an unbranded version of the platform instead of one which is directly connected to CFX Market, so the demo trading conditions are not indicative of the broker’s offer.

High initial investment required

In order to open the most basic account type with CFX Market – the Micro – one has to deposit at least $500, which is a bit too much for an unregulated company. Most brokers allow you to open a standard account with $100 – $250 or less, while some big names like IG do not have a minimum deposit requirement at all.

Conclusion

Although we pointed out two possible benefits of CFX Market, we don’t recommend this broker for two main reasons: it does not hold a legit license, and is not transparent about its pricing.

In order to ensure that traders’ interests are protected and their funds are safe, most countries have dedicated agencies, like the UK’s Financial Conduct Authority, or the Cyprus Securities and Exchange Commission (CySEC), which are one of the most reputable ones in Europe. These organizations require compliance with a number of strict rules that give significant assurance for the security of clients’ funds.

And finally, here are the highlights of the present review of CFX Market:

Both MT4 and MT5 available

No financial regulation

Very high leverage

Spreads not disclosed

Unbranded versions of MT4 and MT5

High initial deposit

Pros Cons
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

CFX Market Review: Is Cfxmarket.com A Scam Or Legit Broker?

After doing some research, we found out that a lot of traders are reporting CFX Market and writting bad reviews about it.
It seems like they are not happy about it and they warn others not to trade with them.

It’s always important to know what other traders are thiking about a broker before using it and we can say that they are not saying good things about CFX Market.

What do regulators say about CFX Market ?

This is the most important thing you need to know about a broker before using it. Is CFX Market regulated ? Is it an offshore company ?

Most brokers are unregulated or regulated by an offshore regulation authority which won’t help you in case of problem. Keep in mind that if a broker steal your funds, you won’t be able to complaint about it unless they are licensed by a serious regulator such as the CySEC (Cyprus Securities and Exchange Commission).

An unregulated broker is clearly not authorized to operate in any regulated country and you should definitely not put any money into it.

CFX Market is an unregulated broker owned by Capital Forex Market (Pte) Ltd and located at 4A Tenterden St, Mayfair, London W1S 1TE, United Kingdom.

They can be contacted by phone at this number : +447440720272 / +447438873486 or you can send an email to [email protected] / [email protected]

You should definitely avoid any unregulated or offshore broker and CFX Market is one of them.

Have you been Scammed by CFX Market ?

Have you been victim of this company ? Did you lose money with them ? Everyone does mistakes. Don’t worry, you are not alone, and we are here to help you.

Our team of experts is available 24/7 in order to help you recovering your hard-earned money.
After asking you some questions, they will be able to build a chargeback case to fight the broker and get your money back as soon as possible.

Chargeback is the solution

As we said before, the good news is that there is a solution and it’s called a Chargeback.
But what is a Chargeback ?
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CFX Market Review: Is Cfxmarket.com A Scam Or Legit Broker?

Cfxmarket.com Review: this is the website of a Forex broker that alleges to be based in the United Kingdom. Is CFX Market a safe broker to trade with? Read the following details as we place details about this broker in the spotlight.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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CFX Market claims that it is owned by Capital Forex Market Ltd and is based in the United Kingdom. Forex trading in this region is regulated by the Financial Conduct Authority (FCA). All trading companies in this region should be licensed by this commission but on checking, we discovered that the broker is not listed among legit brokers there.

Trading with a Forex broker that is unlicensed poses many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well. Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.

Advantages of CFX Market

The brokerage mentions that it is based on client satisfaction. Trading is conducted in a transparent environment and it offers strong security along with world coverage. Payment options are numerous and it is a cost-efficient trading platform.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

CFX Market Trading Platform

Capital Forex Market offers traders access to the MT4 and MT5 trading platforms. We usually readers and traders are advised to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.

Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are not specified on the website. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

The maximum leverage offered to clients is 1:1000 and while this may seem generous, it is not advisable. High leverages can lead to a huge loss of funds as well. Spreads are unspecified on the EUR/USD pair.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on CFX Market

The means of making deposits and withdrawals with the CFX Market Forex broker are VISA, MasterCard, AMEX Card, and Bank transfer. We are discouraged that e-wallets are not named because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.

The minimum deposit required to trade with this broker is $500 which is higher than the obtainable average of $100 to $250 usually required by many other brokers. Withdrawal fees are not stated but the broker mentions that it reserves the right to impose them at any time.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is CFX Market Licensed?

No. CFX Market is not a properly licensed and registered broker. The Financial Conduct Authority (FCA) does not permit it to trade in the UK.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To contact the broker or an agent of its customer service, dial +44 (744) 072 0272, +44 (743) 887 3486 or send an email to [email protected]

Conclusion

CFX Market is not a properly licensed broker and is thus rated low by us. However, it supports the MetaTrader platforms and offers solid leverages. Spreads are unspecified and transaction methods are not impressive. The trading instruments it offers are not listed on the page as well.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

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