What is CedarFX?
CedarFX is an online broker that offers foreign exchange (Forex) and CFD trading services to retail and institutional investors. The company is headquartered in Bulgaria and is regulated by the Financial Supervision Commission (FSC), the country’s financial regulator.
CedarFX offers a range of platforms for its clients to trade on, including the popular MetaTrader 4 (MT4) platform. The broker also provides a mobile trading app for Android and iOS devices. CedarFX offers a wide variety of tradable instruments, including major, minor and exotic currency pairs, as well as CFDs on indices, commodities, stocks and cryptocurrencies.
CedarFX has been awarded a “AAA” rating by the independent financial research firm DUFAS, making it one of the highest-rated online brokers in the industry.
The Different Types of Accounts Offered
CedarFX offers a variety of account types to suit the needs of different traders. The main types of accounts offered are the Standard Account, the ECN Account, and the VIP Account.
The Standard Account is the most basic account type offered by CedarFX. It is best suited for beginner traders who want to get started with trading forex without any bells and whistles. The Standard Account requires a minimum deposit of $100 and gives access to all major currency pairs with a leverage of up to 1:200.
The ECN Account is best suited for experienced traders who want to trade with low spreads and no dealing desk intervention. The ECN account requires a minimum deposit of $500 and gives access to more than 50 currency pairs with a leverage of up to 1:500.
The VIP Account is CedarFX’s top-tier account type that is best suited for professional traders who want premium features such as dedicated account manager, higher leverage, and customised trading conditions. The VIP account requires a minimum deposit of $10,000 and gives access to all major currency pairs with a leverage of up to 1:1000.
The Platforms Used
CedarFX provides its clients with the world-class MetaTrader 4 (MT4) trading platform, which is widely regarded as the industry standard for online forex trading. MT4 is a robust and user-friendly platform that offers a wide range of features and tools to help traders make informed decisions.
In addition to MT4, CedarFX also offers the WebTrader platform, which is a web-based platform that can be accessed from any internet-connected device. WebTrader is ideal for those who want to trade on the go or who don’t want to download and install software on their computer.
Both MT4 and WebTrader offer a variety of features and tools, including:
Real-time quotes and charts
A wide range of technical indicators
Advanced order types
One-click trading
Cross-platform trading
The Instruments Traded
Instruments
CedarFX offers a variety of instruments for traders to choose from. These include major, minor and exotic currency pairs, commodities, indices, stocks and more. CedarFX also offer CFDs on popular cryptocurrencies such as Bitcoin and Ethereum.
Traders can use the MT4 or MT5 platform to trade all of these instruments. The platforms are available as desktop, web-based or mobile apps.
CedarFX Ratings
CedarFX is a forex and CFD broker that offers trading in a wide range of instruments on several different platforms. The company is regulated by the Cyprus Securities and Exchange Commission (CySEC) and offers negative balance protection to its clients. CedarFX has won numerous awards, including “Best Newcomer 2014” from UK Forex Awards and “Fastest Growing Micro Forex Broker” from MasterForex-V.
In terms of platform offerings, CedarFX provides the industry-standard MetaTrader 4 (MT4) platform as well as the cTrader platform for desktop, web, and mobile devices. Both platforms offer a wide range of features and tools for traders of all levels of experience.
The instrument selection at CedarFX is also impressive, with over 50 currency pairs available for trading along with CFDs on commodities, indices, stocks, and cryptocurrencies. Cryptocurrency trading is available on the MT4 and cTrader platforms 24/7 with leverage up to 1:5.
CedarFX’s deposit and withdrawal options are fairly standard, with credit/debit cards, bank wire transfer, and e-wallets all accepted. There is no minimum deposit required to open an account but withdrawals may be subject to fees depending on the method used.
Overall, CedarFX is a solid broker that offers a good selection of instruments and platforms for its clients. The company’s regulation by CySEC provides some peace of mind for traders
Conclusion
CedarFX is a reliable and reputable online broker that offers its clients a wide range of financial instruments and platforms to trade on. The company is fully regulated by the Cyprus Securities and Exchange Commission (CySEC) and offers its clients a safe and secure trading environment. In addition, CedarFX provides its clients with access to some of the most popular trading platforms in the world, such as MetaTrader 4, cTrader and Webtrader. With so many options available, CedarFX is sure to meet the needs of even the most demanding trader.