CedarFX review: Trading instruments, Broker features, Trading platform, Users ratings.

4.285 • 18 REVIEWS
Updated: Jun 11, 2024
CedarFX.com

What is CedarFX?

CedarFX is a forex broker with the trading platform of Metatrader 4 (MT4) in PC, Mobile and Web version.

CedarFX.com offers over 50 forex currency pairs, commodities, stocks, indices, futures, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

Please read CedarFX Reviews below and share your live trading experiences with this broker.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $10
Established: 2020
Address: First Floor, First St Vincent Bank Building, James Street, Kingstown, Saint Vincent And Grenadines
Contact: support@cedarfx.com
Regional offices:
Regulators:
Prohibited countries:
Trading platforms: MT4
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

Currencies: (55+)
Cryptocurrencies: (35+) Bitcoin, Litecoin, Ethereum
CFD: Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities

Trading Conditions

Hedge: ✅ Yes
EAs/Robots: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Bitcoin
Withdrawal Methods: Bitcoin
* Please check broker website for more information
4.285 • 18 REVIEWS

Recent User Reviews of CedarFX

P
Poundtrader
Ohio, USA,
Sep 15, 2023,
Registered user

Updating my withdrawal issue.

Service use: Live Length of use: over 1 Year
Updating my withdrawal issue. It took 6 weeks for my withdrawal to clear the memepool. Cedarfx sent my withdrawal the same day I requested it. I believe it took so long because of the low fees.

Currently, I'm still trading with CedarFX, and have received multiple withdrawals all on the same day.

Mar 14, 2023 - 1 Star Update on my cedarfx withdrawal review

They ask me to reach out on tustpilot, only to tell me they can't do anything about it. what a freaking joke

Mar 11, 2023 - No Rating My bitcoin withdrawal has been sitting on the network for 13 days because cedarfx sent them with low fees. the value of my bitcoin withdrawal has drop from $212.00 to $180.00. be warned.
E
ElGatoTx
Chicago, USA,
May 6, 2023,
Registered user

Kept All My Money

Service use: Live Length of use: 3-6 Months
After I made large gains and then requested my first withdrawal they froze my account and then they closed it. They said their liquidation partner said my trades had some sort of special latency that made my gains. Then they added at the end of their email that I should not try to contact them because they will not reply to me anymore.
M
Mums Trading Forex
England, United Kingdom,
Aug 10, 2021,
Registered user

Eco-Friendly Trading for the Future

Service use: Live Length of use: 6-12 Months
I started using CedarFX in the January 2021 as I was really intrigued by the eco-friendly edge this broker provided. They plant trees with each lot traded so what wasnt to like about this given todays climate crisis!

Fast forward 9 months and I am using CedarFX more and more. Aside from the environmental benefits of trading that CedarFX provides, I am able also using a scalping strategy using one of the 0% commission accounts which over time is proving very beneficial.

This broker also offers very competitive spreads and high leverage on both Forex and Crypto pairs. My trading requirements are comfortably met on CedarFX, however, the concept of green trading is above and beyond the stand out feature for me on this broker and believe it will only develop in the years to come.
V
VeteranTrader
Canary Islands, Spain,
Jul 2, 2021,
Registered user

So Far, One of the Best

Service use: Live Length of use: 0-3 Months
Been running this live alongside 3 other brokers and it consistently gives the highest or second highest profits. I was concerned about the slightly higher spreads with no commission but this does not impact profits if you reduce the TP by maybe a pip.

Made a withdrawal which was processed in four hours and customer support is quick. So far then very good indeed. My only concern is that they are less than two years old but if they continue like this, they are up there with the best.
1 trader has found this review helpful
E
edskie7777
Cebu, Philippines,
Jun 24, 2021,
Registered user

One of the best out there.

Service use: Live Length of use: 0-3 Months
Spreads are low, customer service is always on point. The registration process is very convenient. Adding funds and withdrawals is seamless. Highly recommended!
S
Shaun89
London, United Kingdom,
Jun 9, 2021,
Registered user

Now my one stop shop

Service use: Live Length of use: 6-12 Months
I have used a few brokers previously and been relatively happy but have been looking into how ethical the companies that get my business a lot in my life are. This has included energy provider, supermarkets, certain food brands etc and I saw an advert for CedarFX pop up and it caught my eyes about them planting trees. Naturally I expected this was a gimmick and they wouldn't have any way of showing they ACTUALLY do this but after having a look on their website and subsequently on the Ecologi website I can see that not only they have been donating but you can keep track of what their contribution is in terms of trees planted.

Once I saw that I figured I would give them a go. I had been happy with IC Markets but with the recent crypto boom it would have been nice to get in on that and these guys offered a number of cryptos to trade with decent leverage options to boot. The two accounts I was faced with was a 0% commission account (normally wary of these as the spreads are sky high) and the so called "eco-account" where you pay $1 per lot traded which is still a darn sight cheaper than the $5 per lot on IC Markets. I used the latter account and to my surprise the spreads weren't as bad as I was expecting and are actually fairly competitive. If you are looking at raw spreads then ICM might be better but overall I would suggest this is working out cheaper for me!

Along with my normal forex pairs I like to trade as mentioned I have a number of cryptos to trade too though I tend to stick to BTC, ETH and XRP. They have recently added Dogecoin but not something I have tried yet. No doubt shows they are listening to their client base though.

The acid test for me was whether I got my withdrawals. Being unregulated I wondered how this would go as my first dabble. I was pleasantly surprised when my Coinbase account pinged within a few hours to say the money had landed! Subsequent high profile news about the regulator's approach to retail traders within the stock market with GameStop and later AMC have made me rethink the worth of these so called regulators and if they would care for me anyway. I suspect not.

I try and work of the evidence presented to me and thus far CedarFX have shown me that they are at least trying to introduce an ethical bone to this brutal environment that is the financial markets. I applaud them for that and the efficiency they have been working for me so they have my custom.
1 trader has found this review helpful
F
Forexathome
Lancashire, United Kingdom,
May 31, 2021,
Registered user

Solid Broker, 2 years experience

Service use: Live Length of use: over 1 Year
Been with them for 2 years and never had a problem I couldn’t resolve.

I use the 0% commission account as don’t really see the point in eco account for me.

Tight spreads and no commission means great for day trading and they’re a scalp happy broker.

The BTC withdrawals are fast and same day, way better than 5 day bank transfers.

Bottom line, been a solid broker since I started with them and one of my top main brokers.
S
sebking1986
Kent, United Kingdom,
Feb 3, 2021,
Registered user

Great spreads for the commission structure!

Service use: Live Length of use: 3-6 Months
I have been using a different broker for a while and while their raw spread account is great the commission tally up so looked for a lower commission broker. Came across CedarFX who offer either a 0% commission account or $1 per lot account called "eco". Checked out the spreads expecting them to be poor but they are decent. Majors normally up to 0.8pips and normally lower so very happy.

Was also pleased to see my withdrawal hit my Coinbase wallet in a few hours too!
J
JimmyRozza
Melbourne, Australia,
Feb 1, 2021,
Registered user

Green incentives and a great range of instruments to trade

Service use: Live Length of use: 0-3 Months
I have to say it was very refreshing to see a forex broker with green incentives and doing their bit to help combat climate change. This was probably my number one reason funding an account, but they offer some decent trading conditions too. There's a big range of crypto and stocks on there, plus all the normal forex, metals, indices, etc.
The website design is clean, fresh and functional. They accept BTC deposits/withdrawals too which is very handy.
O
Ollly555
uk, United Kingdom,
Jan 30, 2021,
Registered user

Pleasantly Surprised

Service use: Live Length of use: 3-6 Months
I joined these guys as a liked the way they planted trees based on my trading activity. I was surprised to see that they are not compensating for this with larger spreads/fees and in fact I think they have the lowest spreads anywhere. Customer Support are there 24/7 and they have loads of cryptos to trade. No complaints at all.....