-
BinariumThe Best Binary Options Broker 2020!
Good for Beginners!
Free Education + Free Demo Account!
Get Your Sign-Up Bonus Now! -
CFD Global Review – is cfdglobal.com scam or good forex broker?
RECOMMENDED FOREX BROKERS
Trading Accounts
| Account type | Minimum deposit | Minimum trade size | Maximum leverage | Spreads |
| Standard | $1000 | 0.01 | 1:200 | 3 pips, fixed |
CFD Global offers its clients a single commission-free account type with leverage up to 1:200, fixed spreads and the option to trade in micro lots on the MetaTrader 4 platform. Clients who deposit more than $5 000 are entitled to some extra services (such as Premium Daily Analysis and Premium Customer Care).
Keep in mind that this broker does not accept citizens of Japan, Canada and USA as its clients.
The Company. Security of Funds
Key Way Investments Ltd.
CFD Global offers trading in 45 currency pairs, precious metals and CFDs on stocks, commodities, bonds and indices through the industry’s standard MetaTrader 4.
CFD Global is the trading name of Key Way Investments Ltd., a Cypriot Investment Firm (CIF) licensed by Cyprus Securities and Exchange Commission (CySEC) in 2020.
CIFs are required to hold at least €730 000 as a proof of their financial stability and to keep client funds in segregated accounts, as well as to report to the Commission on a regular basis.
Furthermore, CySEC applies a compensation scheme as an additional guarantee to clients’ funds. All licensed brokers are members of the Investor Compensation Fund, which may cover a maximum of 20,000 EUR per person in the event of broker insolvency.
Besides, as Cyprus is part of the European MiFID regulations, all CySEC regulated are free to operate in all EU Member States.
Trading Conditions
Minimum Initial Deposit
-
Binarium
The Best Binary Options Broker 2020!
Good for Beginners!
Free Education + Free Demo Account!
Get Your Sign-Up Bonus Now! -
In order to open an account with CFD Global, traders have to invest a minimum of $1000, which is a comparatively high initial deposit. Yet, many Cyprus-based brokers require less. In order to open an account with FXTM, for example, one has to deposit just $5. The minimum initial deposit required by another Cypriot broker, HotForex, is $50.
CFD Global offers commission free-trading, as is usually the case with fixed-spread brokers. Unfortunately, this broker’s spreads are rather high, amounting to 3 pips for the EUR/USD pair.
For purposes of comparison, HotForex provides spreads fixed at 1.8 pips on EUR/USD. For more information, you may look up real-time spreads of 15 leading brokers here.
The maximum leverage level offered by CFD Global is 1:200. Such ratio is common for the FX market, yet the CySEC has proposed 1:50 as default leverage. According to the Cypriot financial watchdog, brokers offering “excessive leverage” to retail clients are most likely not doing it in the best interest of traders, because the higher the leverage, the greater the risk.
Nonetheless, many Cyprus-based brokers offer high leverage levels – for example, HotForex and FXTM both provides leverage up to 1:1000.
Trading Platforms
This broker supports the most widely used forex trading platform MetaTrader4 (MT4), available as desktop and mobile versions.
MT4 remains the preferred choice for most traders globally, as it provides a full array of trading tools and features: more than 50 built-in technical indicators, advanced charting package, a wide range of Expert Advisors (EAs) and extensive back-testing options for them. Traders can download ready-made or create their own EAs and let the program do all the work.
CFD Global’s desktop MT4. Click for larger image.
Methods of Payment
CFD Global supports a small range of payment methods – credit/debit cards & bank wire transfer. Popular e-wallets like Skrill and Neteller are not available with this broker.
Accepted currencies: USD, EUR and GBP.
Conclusion
CFD Global is a Cypriot forex broker, offering trading in FX and CFDs on the popular MT4 platform. The main problem with this broker is the high cost of trading and besides, its offerings are quite limited: it provides only fixed spreads solely on one trading platform, e-wallets are not available as payment methods, nothing is mentioned on its website about VPS hoisting, account management services, etc. To sum up the above, here are the Pros and Cons with regards to this broker:
| Pros | Cons |
| Well-regulated | High fixed spreads |
| Commission-free trading | No choice of trading platforms |
| MT4 available | High initial deposit required |
| No VPS hosting, PAMM services |
| 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. Global CFD Review – is globalcfd.com scam or good forex broker?RECOMMENDED FOREX BROKERSTrading accounts and conditions
Global CFD is an offshore broker based in Mauritius, regulated by the local Financial Services Commission (FSC). It offers trading in forex, CFDs on commodities, indices and Bitcoin – a total of 120 instruments. The broker claims it is offering ECN interbank pricing with no market maker or dealing desk. In addition to the live trading accounts, there is a 30-day demo account for trial purposes. The Company. Security of Funds
It looks like Global CFD is a new forex broker. It based in Mauritius and has a license from the local watchdog, the Financial Services Commission (FSC) for an investment dealer. It appears that Global CFD is mostly targeting the Chinese-speaking clients. There are some major forex brokers like Alpari, who hold a Mauritius license, but usually they have multiple licenses, as the Mauritius regulation is hardly very reliable, despite its requirements and its intentions “to be an internationally recognised Financial Supervisor committed to the sustained development of Mauritius as a sound and competitive Financial Services Centre”. Generally, it is less risky to deal with brokers who comply with stricter requirements and are subject to more serious supervision, like the one exercised by UK’s FCA. Trading platformLike the vast majority of forex brokers, Global CFD offers the popular trading platform MetaTrader 4. It is still widely used, despite the plans of its developer MetaQuotes Software to gradually phase it out of use. For the more than 10 years of its existence MT4 has become the preferred trading platform by brokers and traders alike. It has numerous features and is user friendly. Furthermore it supports third-party add-ons, multiple types of orders and automated trading and provides many analysis and charting tools. The platform also supports money management accounts and automated trading. Global CFD is offering both the computer version of the platform and the applications for mobile devices. Methods of paymentGlobal CFD says it accepts only bank transfers and transfers via the China UnionPay gateway. There are no other more popular options like PayPal, Skrill or through debit/credit cards. The broker accepts payments in USD, EUR, GBP, HKD, JPY and SGD. ConclusionWe cannot make our mind up on whether Global CFD is a reliable broker or not. It is certain that it is not very different from the hundreds of other similar small brokers with offshore licenses. Its trading conditions are just average and there are numerous companies offering better conditions. If it were us, we would choose a big broker with a good track record and history and proper regulation.
|
