CFForex, officially known as PT Cyber Futures, was established in 2004 and is headquartered in Saint Vincent and the Grenadines. The broker operates as a private entity, providing a variety of trading services primarily focused on retail forex trading. CFForex has developed a significant presence in the forex market, catering to a diverse client base that includes individual traders and institutional investors.
Since its inception, CFForex has aimed to offer a comprehensive trading experience, allowing clients to access various financial instruments. Over the years, the broker has achieved several milestones, including the introduction of its trading platform, which has become popular among traders. CFForex operates under a business model that emphasizes retail forex trading, providing clients with the tools and resources necessary to engage in the global financial markets.
As a broker, CFForex focuses on delivering a user-friendly trading environment, facilitating access to various market instruments, and continuously evolving its service offerings to meet the needs of its clients. The companys commitment to providing a robust trading platform has positioned it as a notable player in the forex trading landscape.
CFForex operates without any valid regulatory oversight, which raises significant concerns regarding its legitimacy and accountability. The broker is not regulated by any recognized financial authority, which means it lacks the necessary licenses to operate in many jurisdictions. This absence of regulation poses risks to traders, as it limits the protections typically afforded by regulatory bodies.
While CFForex is registered in Saint Vincent and the Grenadines, it does not have a regulatory number or license that can be verified. The lack of regulatory oversight means that CFForex does not participate in any investor compensation schemes, which are crucial for protecting clients' funds in the event of broker insolvency. Furthermore, the broker's compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations is not publicly disclosed, raising further concerns about its operational practices.
Clients considering CFForex should be aware of these risks and conduct thorough research before engaging with the broker. The absence of regulatory oversight means that traders may have limited avenues for dispute resolution and may face challenges in seeking recourse in case of any issues.
CFForex offers a diverse range of trading products, catering to various trading preferences and strategies. The broker provides access to a wide selection of forex currency pairs, including major, minor, and exotic pairs. The exact number of available currency pairs is not disclosed, but clients can expect to trade popular pairs such as EUR/USD, GBP/USD, and USD/JPY.
In addition to forex trading, CFForex offers Contract for Differences (CFDs) on various asset classes, including indices, commodities, and stocks. This diverse range of products allows traders to build well-rounded portfolios and explore different market opportunities. Notably, CFForex also provides trading in commodities like gold and oil, enhancing its product offerings.
The broker's commitment to expanding its product range is evident, as it continuously seeks to update its offerings and introduce new trading instruments. However, details regarding the frequency of product updates and the addition of new instruments are not specified.
CFForex primarily serves retail clients, but it also has provisions for institutional clients, providing tailored services to meet their specific trading needs. The broker does not currently offer white-label solutions or asset management services.
CFForex utilizes the widely recognized MetaTrader 4 (MT4) trading platform, which is known for its user-friendly interface and advanced trading tools. The platform is available on various devices, including Windows, iOS, and Android, ensuring traders can access their accounts and execute trades conveniently from anywhere.
The MT4 platform supports various trading features, including automated trading through Expert Advisors (EAs), advanced charting capabilities, and multiple order types. CFForex does not provide a proprietary trading platform, relying solely on MT4 to deliver its trading services.
The broker's server infrastructure is located in the United States, which facilitates quick trade execution and reliable performance. However, specific details regarding server locations and technical infrastructure are not disclosed. CFForex does not mention any API access or support for algorithmic trading, which may limit options for more advanced traders.
CFForex offers a limited selection of account types designed to cater to different trading needs. The primary account type is the standard account, which allows traders to engage in live trading with a minimum deposit requirement that is not specified. The account features a spread that fluctuates between 2.2 and 2.4 pips for major currency pairs, along with a commission fee of $30 per standard lot traded.
Details regarding additional account types, such as VIP or professional accounts, are not provided. CFForex does not offer Islamic accounts or special accounts for corporate clients. The broker also provides a demo account for traders to practice their strategies, although specific policies regarding the demo account are not disclosed.
The maximum leverage offered by CFForex is up to 1:200, allowing traders to control larger positions in the market. The minimum trading lot size and overnight fees are not specified, which may impact traders' decision-making processes.
CFForex supports various deposit methods, primarily focusing on bank wire transfers. The minimum deposit requirement for different account types is not disclosed, which may pose challenges for potential clients. The processing time for deposits via bank wire transfer can take up to three business days, and traders should consider this when planning their trading activities.
While specific deposit fees are not mentioned, traders should be aware that bank wire transfers may incur charges from their financial institutions. For withdrawals, CFForex also relies on bank wire transfers, and the processing time for withdrawals is not clearly stated.
The broker does not provide detailed information regarding withdrawal limits or associated fees, which may affect clients' ability to manage their funds effectively. Overall, the lack of transparency in fund management practices raises concerns for potential clients.
CFForex provides customer support primarily through email and phone channels. The support services are available in Indonesian, which may limit accessibility for non-Indonesian speaking clients. Traders can reach out for assistance via the following contact methods:
The broker's customer support operates during business hours, but specific coverage details are not provided. The limited support options may impact clients' ability to receive timely assistance.
In terms of educational resources, CFForex offers market update articles that cover various trading topics and provide insights into market developments. However, the range and depth of educational materials available are not extensive, which may hinder novice traders looking for comprehensive training resources.
CFForex primarily serves clients in Indonesia, with its operations centered in this region. The broker has established a presence in the local market, catering to the trading needs of Indonesian clients. However, specific details regarding regional offices or distribution are not disclosed.
CFForex does not accept clients from certain countries, although the exact list of restricted countries is not provided. Traders should verify their eligibility before attempting to open an account with the broker. Additionally, any special restrictions on trading activities or account types are not clearly outlined in the available information.
In conclusion, while CFForex presents a diverse range of trading products and utilizes the popular MT4 trading platform, significant concerns arise due to its lack of regulatory oversight and limited customer support options. Traders should exercise caution, seek comprehensive information, and explore alternatives with more transparent and secure practices for a reliable trading experience.
FX1144007262
New Zealand
CF Forex's website has something on it that I can't understand... I guess it's in Bahasa Indonesia. I wouldn't trade with it. The main reason is that it doesn't have any regulatory information.
37130
2022-12-13