CFX Broker Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
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I recently started using CFX Broker for trading currency pairs and I am really impressed with the way it works. I was able to set up my wallet quickly and start trading in no time. The interface is user-friendly and it has a lot of options available for trading. And the customer service has been extremely helpful.
Cfx Broker has garnered mixed reviews in the forex trading community, with an overall perception of being a reliable but somewhat limited broker. Established in 2008 and regulated by Germany's BaFin, it offers a range of trading platforms and asset classes. However, the high minimum deposit requirement and lack of promotional offers may deter some potential traders.
Note: It's crucial to recognize that Cfx Broker operates as an introducing broker for Saxo Bank Denmark, which adds an additional layer of complexity to its regulatory status and user experience.
| Criteria | Rating (out of 10) |
|---|---|
| Account Conditions | 6 |
| Tools and Resources | 7 |
| Customer Service and Support | 6 |
| Trading Setup (Experience) | 7 |
| Trustworthiness | 6 |
| User Experience | 5 |
| Overall | 6 |
We assess brokers based on user feedback, expert opinions, and factual data from industry sources.
Founded in 2008, Cfx Broker operates out of Ruderting, Germany, and is regulated by the Federal Financial Supervisory Authority (BaFin). The broker offers access to various trading platforms, including Cfx Trader Pro, Trader Go Web, and a mobile application for iOS and Android devices. Traders can engage with more than 19,000 shares, 9,000 CFDs, 200 futures, and over 180 currency pairs.
Cfx Broker is regulated in Germany, providing a level of security for traders. However, as it acts as an introducing broker for Saxo Bank Denmark, potential clients should be aware of the implications this has for their accounts and the protection of their funds.
The minimum deposit required to open an account with Cfx Broker is €2,000. While specific deposit and withdrawal methods are not detailed on the broker's website, it is assumed that these would be determined by Saxo Bank, the institution handling client accounts.
Cfx Broker does not currently offer any welcome bonuses or promotional incentives, which could be a drawback for new traders looking for additional value when starting their trading journey.
Cfx Broker provides a diverse range of trading options, including forex, stocks, ETFs, and commodities. This variety allows traders to explore different markets and strategies.
The specific costs associated with trading, such as spreads and commissions, are not extensively detailed on Cfx Broker's website. However, user reviews suggest that trading fees are relatively low compared to other brokers.
While the website does not specify the maximum leverage available, it is important to note that Cfx Broker, as an introducing broker for Saxo Bank, would have leverage determined by that institution.
Cfx Broker supports multiple trading platforms, including Cfx Trader Pro and Trader Go Web, providing flexibility for traders accustomed to different interfaces.
Details regarding restricted regions are not explicitly mentioned, but potential traders should verify their eligibility based on local regulations.
Customer support is available in English and German, with services operating 24/5, which is a standard offering in the industry.
| Criteria | Rating (out of 10) |
|---|---|
| Account Conditions | 6 |
| Tools and Resources | 7 |
| Customer Service and Support | 6 |
| Trading Setup (Experience) | 7 |
| Trustworthiness | 6 |
| User Experience | 5 |
| Overall | 6 |
Account Conditions: The high minimum deposit requirement of €2,000 may restrict access for novice traders or those with limited capital. However, the regulatory backing from BaFin provides a level of reassurance.
Tools and Resources: Cfx Broker offers a solid selection of trading platforms, which enhances the trading experience. The platforms are user-friendly and equipped with essential tools for traders.
Customer Service and Support: While customer service is available in two languages, user reviews indicate that response times may vary, which can be a concern for traders needing immediate assistance.
Trading Setup (Experience): The trading experience is generally positive, with a wide range of assets available for trading. However, the lack of promotional incentives may deter some traders.
Trustworthiness: Although regulated by BaFin, the fact that Cfx Broker operates as an introducing broker for Saxo Bank Denmark complicates the assessment of its trustworthiness. Users are advised to conduct thorough research before investing.
User Experience: User experiences vary, with some expressing satisfaction with the trading platform and asset variety, while others have raised concerns about the high minimum deposit and lack of promotional offers.
In conclusion, Cfx Broker presents a mixed bag for potential traders. While it offers a regulated environment and a diverse range of trading options, the high minimum deposit and lack of promotional incentives may be limiting factors. As always, prospective traders should weigh these aspects carefully and consider their individual trading needs before making a decision.
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