September 26, 2021

Top Forex Brokers

Latest updated details about CedarFX Broker

Reviewed broker: CedarFX

Operated by Cedar LLC

Established in 2020

Location: Saint Vincent and the Grenadines

CedarFX Review: Trading Conditions

Account currencies: Bitcoin, Euro, Great Britain pound, United States dollar 

Trading instruments: 55 Forex currency pairs, 35 Cryptocurrency pairs, 64 stocks, 11 indices, metals and commodities.

FX MAJORS 

Symbol Bid Ask Spread
AUD/USD 0.77452 0.77473 2.1
EUR/USD 1.19046 1.19054 0.8
GBP/USD 1.38628 1.38654 2.6
USD/JPY 108.878 108.892 1.4
 

CRYPTOS 

Symbol Bid Ask Spread
BTC/USD 59162.8 59294.2 131.40000
ETH/USD 1851.86 1856.04 4.18000
LTC/USD 203.76 204.23 0.47000
XRP/USD 0.51793 0.51944

Does CedarFX prohibit any trading techniques?

No, the broker allows all trading techniques including hedging, scalping and robots, auto traders and Expert Advisors.

What are the smallest and largest position sizes that I can open?

You can open positions ranging from 0.01 lots to 1,000 lots.

We offer a range of assets including 55 Forex currency pairs, 35 Cryptocurrency pairs, 64 stocks, 11 indices, metals and commodities.

What leverage do you offer?

The maximum leverage settings vary according to the instrument you are trading. We offer 1:500 leverage for Forex and Metals, 1:200 leverage for Indices and commodities, 1:100 leverage for all Cryptocurrency pairs and 1:20 leverage for stocks.

Yes, we issue a Margin call when your margin level falls to 100%, and we issue a Stop-Out if your margin level falls to or below 70%.

CedarFX Review: Trading Platforms

CedarFX operates on the MetaTrader 4 platform, a favorite among industry leaders and passionate forex investors. When you choose CedarFX as your broker, starting with MetaTrader 4 is as quick and simple as the process to open your account.

CedarFX Review: Account Types

Free Demo and Live MT4 Accounts

Whether you’re looking to practise trading risk-free, or to open a live trading account to start earning, we offer free Demo and Live accounts on the renowned MetaTrader 4 platform. You can even perfect your strategy and acquaint yourself with the platform through a Demo account before depositing any funds. Both account types present identical market conditions, helping you get ready to go live! 

0% Commission Account 

CedarFX eliminated all commission fees to help traders make the most of their funds. Now, you can use the full amount of your deposit to open positions! The spreads are kept low, ensuring that trading costs are minimised across all 180+ tradable assets available on our platform. Plus, whether you deposit in Bitcoin or Fiat currency, we don’t charge any fees on your transactions. Traders can also get access to their funds at no cost, with same-day Crypto withdrawals.

Eco Account 

CedarFX team is passionate about giving back to the community and our newly-launched Eco Accounts are designed to do just that. By creating an Eco Account, you’ll be helping the broker contribute to a more sustainable future. With an Eco account, you’ll be charged $1 in commission. The broker will match that amount and 100% of funds collected will be sent to Ecologi, which will go towards planting trees and supporting carbon reduction projects across the globe.

Demo Accounts 

Whether you opt for a 0% Commission Account or an Eco Account, traders can open both Demo and Live accounts on the MetaTrader 4 platform. Both account types come with identical features, the only difference being that you don’t need to trade with real money when using a Demo version. Demo accounts are ideal for traders to get used to the platform and practice their strategies before going live. Once you’ve gained confidence, you can put your skills to the test on a Live account! 

How many Trading Accounts can I open?

There’s no limit to how many Demo and Live Trading Accounts clients can open. Traders can also use different leverage settings and currencies for multiple accounts. 

What is the difference between an Eco Account and a 0% Commission Account?

The only difference between these two accounts is the commission rate. With a 0% Commission Account, traders can trade all assets without paying any commission to the broker. With an Eco Account, traders are charged $1 commission per lot traded, and all commissions will be used to support environmental causes through Ecologi. All other aspects of the account, such as spreads, leverage and instruments, are identical.

Payment Options

CedarFX offers Bitcoin as a main deposit method, as well as the option to deposit using your Credit Card or by Bank Wire Transfer through a third party website. Bitcoin is the fastest way to deposit funds, so clients can either deposit in Bitcoin directly or buy and send Bitcoin through a third party service.

The minimum deposit in Bitcoin is $10. Any amount below this may not appear in client accounts due to the Blockchain network fees, which charges 0.0005BTC per transaction. The minimum deposit for other payment methods is $50.

CedarFX does not charge any fees when depositing via our website. However, Bitcoin deposits carry a fee of 0.0005BTC charged by the Bitcoin Network, irrelevant of the size of the transaction.

The broker offers same-day Bitcoin withdrawals for all clients. The team will see to your withdrawal request within 24 hours of submission, and your funds will then be sent directly to your Bitcoin wallet. 

The minimum amount for withdrawals is $10.

CedarFX Customer Support 

CedarFX’s customer support offers a number of tools to quickly connect with a representative. Get in touch with the team at CedarFX via phone, live chat or email.

How was the rating of CedarFX performed compared to other brokers? 

This 2021 Forex Broker Review  has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on CedarFX FX broker performance and features. 

Overall our online CedarFX review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online CedarFX or you find inaccurate details CedarFX broker review please get in touch with us and the changes will be applied.