CedarFX is a legally registered forex broker located in the Saint Vincent and the Grenadines, but not regulated by any government agency.
CedarFX accepts clients from all over the world, excluding some countries where restrictions apply.
Forex broker offers the following underlying assets for trading.
|55+ Currency Pairs||Based on major and minor world currencies.|
|30+ Crypto Pairs||Based on Cardano, Bitcoin, Dash, Dogecoin, Polkadot, EOS, Ethereum, Ethereum Classic, Iota, Litecoin, Neo, OmiseGO, Qtum, Solana, Tron, Tether, Monero, Ripple, Tezos, Zcash.|
|11 Indice CFDs||Based on baskets of different blue-chip stocks and US Dollar Index.|
|3 Metal CFDs||Based on Gold, Silver and Platinum.|
|2 Energy CFDs||Based on Crude Oil (WTI, Brent).|
|70+ Stock CFDs||Based on shares of US, UK and EU companies.|
CedarFX is a forex & CFD broker registered in Saint Vincent and the Grenadines, an offshore jurisdiction where forex brokers are not regulated. The broker offers trading leverage as high as 1:500 and gives access to most commonly traded instruments.
Relatively unique about CedarFX is how it has found a way to promote itself as “the world’s first green broker.” The reasoning behind this is that the broker claims to donate some proceeds from the commissions it receives to tree planting projects and other sustainability efforts around the world.
Specifically, this happens for customers who are trading on the so-called Eco Account, which offers trading with 1% commissions that the broker says will go towards green projects and a tree planting initiative.
For these projects, CedarFX claims to work with a UK-based organization known as Ecologi, although we have to admit it is difficult to verify whether funds from the broker actually goes towards the cause or not.
A great thing with CedarFX that can be verified, however, is the wide selection of trading instruments the broker offers. This includes well over 50 of the most popular forex pairs, an impressive list of more than 30 cryptocurrencies, most major stock indices, single stocks listed in the US and Europe, and a selection of precious metals and energy commodities.
All of the assets offered by CedarFX can be traded on the MetaTrader 4 (MT4) platform, the legendary forex trading platform that launched as early as 2005 and still remains popular today. Among other things, MT4 offers one of the best selections of automated trading strategies (known as Expert Advisors) and custom technical indicators of any platform in the industry.
In addition to the standard downloadable version of MT4 for Windows computers, CedarFX also supports the web-based and mobile versions of the same platform.
In terms of trading accounts, those who prefer to trade with an ordinary account that does not charge extra for tree planting efforts also have an option with CedarFX with the standard 0% Commission Account. As the name implies, this account type offers commission-free trading, and instead brings in money by having slightly larger spreads on the trading instruments, resembling a typical STP-style account.
Funds can be deposited into the trading accounts by using either Bitcoin, make a bank wire transfer or use a credit or debit card. The broker does not charge any extra fees for processing deposits other than what may be charged by the payment provider itself or the network in the case of Bitcoin transfers.
To contact CedarFX’s customer service, clients can use either a live chat option on the website, send an email, or request a callback via a messaging form. Unfortunately, the broker has not listed any direct phone numbers it can be reached on. There are also no specific work hours for its support team listed, although the broker states on its website that the team is available “any time, day or night.”
To summarize, we want to remind readers that CedarFX is an unregulated offshore-based forex broker, and that this is something that comes with certain risks. However, being unregulated also brings some flexibility, such as the ability to offer high trading leverage and funding with cryptocurrencies like Bitcoin. CedarFX could thus be a good alternative for traders who are looking for just that.