Another anonymous broker out there. Do not be fooled; many websites are stating they provide the best financial services. Yet, only a few are really credible brokerages. With the industry development, many unregulated companies have shown up, trying to make as much profit and scam as much as they can. It looks like CFXDtrade is one of those. Let’s see why.
| Broker status: | Unregulated |
| Regulated by: | No regulation |
| Scammers Websites: | https://cfxdtrade.com/ |
| Blacklisted as a Scam by: | CNMV |
| Owned by: | N/A |
| Headquarters Country: | N/A |
| Foundation year: | 2021 |
| Supported Platforms: | Web trader |
| Minimum Deposit: | 500 EUR |
| Cryptocurrencies: | Yes (N/A on the number) |
| Types of Assets: | FX, commodities, indices, cryptocurrencies, shares, bonds |
| Maximum Leverage: | 1:300 |
| Free Demo Account: | No |
| Accepts US clients: | No |
CFXDtrade Regulation and Security
The broker does not list an owner. However, as per the website, it looks like it’s a fresh broker established this year. We have to mention we were highly disappointed by the website itself. First of all, the broker has built-in Google Translate feature and didn’t bother too much to provide clients the experience of the website in their language. We all know how inaccurate Google Translate can be.
Another disappointment – in the section “About Us,” the broker literally copied another broker’s page, forgetting to erase the name. So, we can see on the CFXDtrade website how excellent the Alvexo broker is. Just sad.
And the last thing about the website, there are so many spelling mistakes.
The broker is anonymous, unregulated, and illiterate.
Warnings From Financial Regulators
Since the broker is not regulated and many complaints have been filed already, the broker was noticed by regulatory bodies. So, we can see Spanish CNMV issuing a warning against this brokerage.
The same warning came from the Italian CONSOB since many reports are issued about this broker all around Europe.
Be aware of the CFXDtrade scam, such as AtnFX, TBXCapital and AZAForex.
CFXDtrade – Withdrawal Issues
Have you ever traded with an unregulated brokerage? Can you imagine how hard it is to get your money back? Especially if there is nobody to support you through the process, such as a regulatory body. You have nowhere to complain and nowhere to ask for a refund.
The broker is using only a web trader, a favorite tool of scam companies. Other than that, it offers leverage of up to 1:300, which is tremendously high.
Nowhere could we find the payment methods and the list of fees and commissions. The only available information is that the minimum deposit is 500 EUR for the Basic account. Besidses that, traders with a low amount of money do not have access to share trading. And another thing, the broker leads clients to believe that everything is free. The main page says, “Open an account, it’s free.” However, you do need a deposit so this statement can be misleading for potential customers.
After all, do you believe that withdrawing your funds from CFXDtrade.com is possible?
Scammed by Cfxdtrade?
If you were misled or scammed by CFXDtrade, there is a possibility of getting your money back. If you think you are alone in this battle, you are not. There are many clients in your situation. All you need to do is request a chargeback.
But what is a chargeback? It’s the forced withdrawal of your funds from the merchant directly to your card.
Contact our support via chat now, and let’s start the procedure!
What is Cfxdtrade?
CFXDtrade is an online trading brokerage with no regulation.
Is Cfxdtrade a scam?
Since the broker is blacklisted and unregulated, its operations are suspicious.
Is Cfxdtrade regulated?
CFXDtrade is not a regulated brokerage.
