The CFDtrades broker makes a number of claims on their website from the get go all with the intention of getting the potential client to create an account with them and depositing the mandatory 250$. However there is one small issue, they do nothing to substantiate any of their claims. The CFDtrades broker claims that they offer world class transparency for their investors. This can immediately be debunked by the fact that they do not offer a free demo account so that potential clients can see if this broker is a good fit for them.
Another alarming issue is that CFDtrades does not disclose where they are based, this means that the client has no idea where their money is actually going when they invest with CFDtrades.
To add to the foregoing, we strongly advise you to ignore brokers such asAxen Trade,Kapital Consult, andTraders Powers.
| Broker status: | Unregulated Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | cfdtrades.co |
| Blacklisted as a Scam by: | N/A |
| Owned by: | N/A |
| Headquarters Country: | N/A |
| Foundation year: | N/A |
| Supported Platforms: | Web-based platform |
| Minimum Deposit: | 250$ |
| Cryptocurrencies: | BTC, ETH, LTC |
| Types of Assets: | Crypto and forex |
| Maximum Leverage: | 1:200 |
| Free Demo Account: | No |
| Accepts US clients: | No |
Is CFDtrades a Licensed Broker?
CFDtrades does everything in its power to skirt around the topic of licensing and regulation on their website. This alone is enough to bring to question the legitimacy of CFDtrades as a broker. This is highlighted by the fact that the website does not feature an “About us” page but only has a contact form. This is a commonly used tactic by scam brokers as a means of gaining a way to contact potential clients after which they bombard them with spam with “better” offers.
How Unsafe Is An Unlicensed Broker?
It is extremely dangerous to use an unlicensed or offshore broker. This is due to the fact that these brokers like CFDtrades will do everything and anything they can in order to take your money while making the withdrawal process convoluted or impossible. It is worth noting that the CFDtrades broker is not regulated by the Central Bank of Ireland, FCA, ASIC or BaFin. This means that they are an untrustworthy broker to place your investments in.
How Reliable Is CFDtrades Broker?
CFDtrades is not a legitimate broker. The firm is not licensed, and most likely not Irish-based.The reviews are mainly negative, indicating you shouldn’t deal with this broker.
Traders’ Experience With CFDtrades
The list of negative reviews CFDtrades has received is long and exhausting. As with most scam brokers the primary goal of CFDtrades is to get your money and make it very difficult to impossible for you to withdraw your funds. This is a common tactic used by most if not all offshore brokers and CFDtrades is no different.
What Platforms Does CFDTrades Offer? – Available Trade Software
Like the majority of scam brokers, CFDtrades uses its own web based trading platform. This is an issue because it does not offer the tools even seasoned investors need in order to make informed decisions about their investments let alone someone who is new to investing. Platforms like Meta Trader4/5 are more well suited to trading forex and crypto by virtue of the tools that they provide. Using their own trading platform is not conducive to setting their clients up for success.
CFDtrades Accounts Overview
The CFDtrades broker makes these accounts available for investors:
- Silver for up to 5000 EUR
- Gold for up to 10 000 EUR
- Platinum for up to 50 000 EUR
- VIP by invitation only
CFDtrades Broker – Countries Of Service
The broker is available in the following countries:
- UK
- Greece
- Canada
CFDtrades Range of Trading Instruments & Markets
As far as we have found the CFDtrades broker makes the following assets available for trade:
Please remember the names of theSinaraCorp,IB Finanzas, andExindexand stay away from them! Before investing, always check the history of online trading organizations!
What Trading Terms Trader CFDtrades?
The trading company gives its clients no information that they could use to make an informed decision. The minimum investment required by the broker is 250$. This is the only way to gain access to their platform. This means that clients have to invest in order to be able to see what the platform they will be investing through even looks like. The leverage that is offered to clients of is 1:200. This alone is not enough for someone to make a decision that they trust CFDtrades with their money.
Fees, Payment and Withdrawal Methods
The broker’s website gives absolutely zero information about how a client could withdraw their money. This is all upheld by the fact that they are an unregulated broker so they are not subject to the rules that all legitimate brokers are. The primary way they make it impossible for clients to withdraw funds is by tying deposits to the bonus scheme which they intentionally make convoluted. Basically if you have made profits through their bonus scheme you are not able to withdraw your funds.
This is further complicated by the fact that once you deposit your money it is not made clear what the bonus is and what your deposited funds are. Even in the unlikely scenario that you successfully manage to withdraw your funds and your profits the CFDtrades broker applies a 20% withdrawal fee.
Scammed by CFDtrades Broker? – Let Us Hear Your Story
If you have been scammed by CFDtrades it is imperative that you contact us as soon as possible so that we can begin the procedure for a chargeback. This could be the only way for you to recover your money but it is important that this happens as soon as possible.
But What Is A Chargeback?
A chargeback is a procedure that is possible if you have deposited your funds via credit card. In this case we can work with a bank in order to retrieve your money from the scam broker.