Cambridge FX Forex Broker provides real users with * positive reviews, * neutral reviews and 2 exposure review!
Business
License
ASIC Suspicious Clone 
Why did it scam when it has been regulated?
Taxes should be paid before withdrawing funds. But after that, I was told that my bank card number was wrong. And they froze my account. This company is not reliable.
Cambridge FX, now known as Corpay, has garnered mixed reviews in the forex trading community. While it offers a range of integrated cross-border payment services and currency risk management solutions, concerns about its regulatory status and user experiences have raised red flags. This review will delve into various aspects of Cambridge FX, highlighting both its advantages and drawbacks based on user feedback and expert opinions.
Note: It is crucial to note that Cambridge FX operates under different entities in various regions, which can lead to confusion regarding its regulatory status. This review aims to provide a fair and accurate assessment based on the latest available information.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 6 |
| Trading Setup | 4 |
| Trustworthiness | 3 |
| User Experience | 5 |
We score brokers based on a comprehensive analysis of user feedback, regulatory status, and available trading conditions.
Founded in 2018, Cambridge FX (now Corpay) is a provider of integrated cross-border payment services and currency risk management solutions. The company is headquartered in Toronto, Canada, and operates in various regions, including North America, Europe, and Australia. While it claims to offer trading capabilities across multiple asset classes, including forex and CFDs, its regulatory status remains a significant concern. The Australian Securities and Investments Commission (ASIC) regulates its Australian entity, but the license has been flagged as a suspicious clone, raising questions about the broker's legitimacy. Notably, Cambridge FX does not support popular trading platforms like MT4 or MT5, which can be a drawback for many traders.
Regulatory Regions: Cambridge FX claims to be regulated by ASIC in Australia; however, the license has been deemed suspicious, which raises concerns about its legitimacy. Other regions where it operates may not have robust regulatory oversight.
Deposit/Withdrawal Options: The broker supports various currencies for deposits and withdrawals, but specific details about cryptocurrencies are not clearly outlined in the available reviews.
Minimum Deposit: Information on the minimum deposit required to open an account with Cambridge FX is inconsistent across sources, with some suggesting that it is relatively low compared to industry standards.
Bonuses/Promotions: There is little information regarding bonuses or promotional offers. Many reputable brokers provide incentives to attract new clients, but Cambridge FX lacks clarity in this area.
Tradeable Asset Classes: Users can trade forex, CFDs, commodities, and indices, but the lack of popular trading platforms like MT4 or MT5 may limit the trading experience for many users.
Costs (Spreads, Fees, Commissions): The reviews indicate that Cambridge FX offers spreads starting at around 1 pip, but the overall cost structure, including hidden fees, remains unclear. Reports of withdrawal difficulties have also surfaced, indicating potential issues with transparency.
Leverage: The leverage options available to traders are not explicitly stated, which can be a significant drawback for those looking for high-leverage trading opportunities.
Allowed Trading Platforms: Cambridge FX does not support widely used platforms like MT4 or MT5, which are favored by many traders for their robust features and user-friendly interfaces.
Restricted Regions: There is limited information on specific regions where trading may be restricted. However, potential clients should conduct their due diligence to ensure compliance with local regulations.
Available Customer Support Languages: Cambridge FX offers customer support in multiple languages, which can be beneficial for its diverse clientele. However, user experiences with customer service have been mixed, with some users reporting long wait times and inadequate support.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 6 |
| Trading Setup | 4 |
| Trustworthiness | 3 |
| User Experience | 5 |
Account Conditions: The overall account conditions at Cambridge FX receive a low rating due to the lack of transparency regarding minimum deposits and withdrawal processes. Reports from users indicate challenges with withdrawing funds, which is a significant concern for any potential trader.
Tools and Resources: While Cambridge FX does offer some educational resources, the absence of popular trading platforms limits the tools available to traders. Users have expressed the need for more comprehensive trading tools to enhance their trading experience.
Customer Service and Support: Customer service has received a moderate rating, with users noting that while support is available 24/7, the response times can be slow, and the quality of assistance may not meet expectations. This inconsistency can be frustrating for traders who require timely help.
Trading Setup: The trading setup at Cambridge FX is considered basic, lacking advanced trading platforms and tools that many traders prefer. This limitation can hinder the trading experience, especially for more experienced traders.
Trustworthiness: Trustworthiness is a significant concern for Cambridge FX, primarily due to its questionable regulatory status and reports of withdrawal issues. Potential clients should exercise caution and conduct thorough research before engaging with this broker.
User Experience: User experiences vary widely, with some praising the range of services offered, while others report difficulties with withdrawals and customer support. This inconsistency highlights the need for potential clients to weigh the pros and cons carefully.
In summary, while Cambridge FX offers a range of services, potential traders should approach with caution due to regulatory concerns and mixed user experiences. As always, conducting thorough research is essential before making any investment decisions.
