CF Forex Broker
Basic Information
United States
Above 20 years Regulated in Hong Kong Dealing in futures contracts Suspicious Scope of Business High potential riskCompany profile
Rating Index
CF Broker - Complete Information Guide
1. Broker Overview
CF Broker, established in 2020, is a trading platform operated by Sea Breeze Partners Ltd, which is based in the Commonwealth of Dominica. The company operates as an offshore broker and is privately held. CF Broker primarily targets retail traders, offering services in various financial markets, including forex, commodities, indices, shares, and cryptocurrencies.
Since its inception, CF Broker has been associated with several other dubious trading brands, raising concerns among traders and regulatory bodies. Despite its claims of being a reliable trading platform, the lack of regulation and numerous complaints from users suggest otherwise. The broker's business model focuses on providing a platform for trading various financial instruments, but it has faced significant challenges regarding transparency and client fund security.
The parent company, Sea Breeze Partners Ltd, has been linked to other platforms that have faced regulatory scrutiny and warnings due to their questionable practices. CF Broker's operational history has been marred by issues related to fund withdrawals and customer service, leading to a tarnished reputation in the trading community.
2. Regulation and Compliance Information
CF Broker operates without any regulatory oversight, which is a significant red flag for potential clients. The broker has been explicitly blacklisted by several financial regulators, including:
- CSSF (Commission de Surveillance du Secteur Financier, Luxembourg)
- FMA (Financial Market Authority, Austria)
These organizations have issued warnings indicating that CF Broker is involved in fraudulent activities and does not have the authority to provide financial services. The lack of a regulatory license means that clients have no recourse in case of disputes or issues with fund withdrawals.
Furthermore, CF Broker does not adhere to any customer fund segregation policies, increasing the risk for clients. They also lack participation in any investor compensation schemes, leaving clients vulnerable in the event of broker insolvency. The broker claims to follow KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance measures, but without regulatory oversight, the effectiveness of these measures remains questionable.
3. Trading Products and Services
CF Broker offers a diverse range of trading products, including:
- Forex: A variety of currency pairs are available for trading, with a minimum deposit requirement of $250.
- CFDs (Contracts for Difference): Clients can trade CFDs on various assets, including indices, commodities, stocks, and cryptocurrencies.
- Cryptocurrencies: The broker supports trading in several cryptocurrencies, although the exact number of available pairs is not specified.
Despite the claims of offering a wide range of products, user reviews indicate that the trading experience may be hindered by platform issues and unexpected fees. The frequency of product updates and the introduction of new trading instruments are not clearly communicated to clients, adding to the uncertainty surrounding the broker's operations.
CF Broker's services are primarily focused on retail trading, with no significant offerings for institutional clients or white-label solutions. This focus limits its appeal to professional traders seeking advanced trading options and features.
4. Trading Platforms and Technology
CF Broker claims to support the MetaTrader 4 (MT4) trading platform, a popular choice among traders for its user-friendly interface and advanced trading tools. However, there have been reports that the MT4 platform was never actually available for download, raising concerns about the broker's transparency.
In addition to MT4, CF Broker offers a web-based trading platform that allows users to trade directly from their browsers. The broker does not provide a proprietary trading platform, which may limit its competitiveness in the market.
Mobile trading is also supported, with applications available for both iOS and Android devices. However, the performance and reliability of these applications have been questioned by users, particularly regarding execution speed and connectivity issues.
CF Broker operates on a Market Maker model, which means it takes the opposite side of client trades, potentially leading to conflicts of interest. The broker's server infrastructure and technology backbone are not disclosed, which is a common practice among unregulated brokers.
5. Account Types and Trading Conditions
CF Broker offers several account types, each with different conditions:
- Standard Account: Requires a minimum deposit of $250 with spreads starting from 3.0 pips.
- Classic Account: Minimum deposit of $500.
- Premium Account: Requires a deposit of $10,000 or more, with lower spreads offered.
- Platinum Account: Aimed at high-net-worth individuals with a minimum deposit of $50,000.
The broker does not offer a free demo account, which may deter novice traders looking to practice before committing real funds. Leverage is available up to 1:200, which is considered high and poses significant risks, especially for inexperienced traders.
CF Broker imposes overnight fees on positions held beyond the trading day, although the exact fee structure is not clearly defined, leading to potential surprises for clients.
6. Fund Management
CF Broker supports multiple deposit methods, including:
- Bank Transfers
- Credit Cards
- Electronic Wallets (such as Piastrix)
The minimum deposit requirement varies by account type, with the lowest being $250. Deposit processing times are generally within 2 to 5 business days, but this can vary based on the method used.
While the broker does not specify any deposit fees, clients have reported unexpected charges associated with fund transfers. Withdrawal methods include similar options, but users have faced significant difficulties in accessing their funds, particularly after the broker's website became inactive.
Withdrawal requests reportedly take 2 to 5 business days to process, but many clients have reported being unable to withdraw their funds altogether, raising serious concerns about the broker's reliability.
7. Customer Support and Educational Resources
CF Broker provides customer support through various channels, including:
- Online Chat
- Social Media
However, the quality and responsiveness of customer service have been criticized, with many users reporting long wait times and unhelpful responses.
The broker claims to offer educational resources, including webinars and tutorials, but the availability and quality of these materials are unclear. Market analysis services, such as daily updates and research reports, are also mentioned, but clients have expressed skepticism regarding the accuracy and timeliness of such information.
Trading tools, including calculators and economic calendars, are available, but their effectiveness and user-friendliness have been questioned.
8. Regional Coverage and Restrictions
CF Broker primarily serves clients in the Commonwealth of Dominica and other offshore markets. However, it does not accept clients from the United States, which limits its potential market reach.
The broker's regional presence is primarily online, with no physical offices reported outside of its claimed headquarters. Special restrictions apply to clients from certain jurisdictions, particularly those with stringent financial regulations, further complicating access to the platform.
In summary, while CF Broker claims to offer a comprehensive trading experience, the lack of regulation, numerous complaints, and operational issues raise significant concerns for potential clients. Traders are advised to exercise caution and conduct thorough research before engaging with this broker.
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Latest Reviews
FX3673444363
Hong Kong
Unable to withdraw. It required certificate but rejected withdrawal for other reasons.
Exposure
2021-10-20
FX3673444363
Hong Kong
The CF platform is fake, don’t believe any words spoken by the customer service, and hope that the victims will report them together
Exposure
2021-01-29
Flyontype
New Zealand
On the surface, they seem responsive to issues, claiming that once a problem is resolved, normal operations can resume. However, the reality is a bit different. After successfully addressing one concern, I found myself facing hurdles in withdrawing funds. The withdrawal certificate problem was fixed only to be followed by another issue. To top it off, I couldn't even log in at times. It's a series of ups and downs, with a constant push to pay additional fees.
37130
2023-12-22