CedarFX

CedarFX is a retail forex and CFD broker incorporated in Mauritius in 2020, operating under the official domain cedarfx.com. The broker offers trading services in over 180 assets, including forex, commodities, indices, stocks, and cryptocurrency CFDs. While the broker claims to adhere to Mauritian AML/CFT regulations, it does not hold a license from a recognized financial regulator, which is a significant factor for traders to consider.

CedarFX presents itself as a zero-fee broker, emphasizing low trading costs and fast withdrawals. Its target audience appears to be cost-conscious traders and those interested in eco-friendly initiatives, as it offers a unique 'Plant a Tree' program. The broker provides two account types: a 0% Commission Account and an Eco Account, both designed to minimize fees.

CedarFX is not regulated by any major financial authority such as the FCA, CySEC, or ASIC. It is registered in Mauritius, but registration does not equate to regulation. The broker's AML/CFT policy references the Mauritian FSC, but it does not claim to be licensed by the FSC. This lack of regulatory oversight means traders have limited recourse in the event of disputes or financial loss.

FXCanary's research indicates that the broker's registration address is in Port Louis, Mauritius. Due to the absence of a regulatory license, we assign a high-risk score of 75/100 to CedarFX. Traders should exercise extreme caution and consider the risks of trading with an unregulated entity.

CedarFX offers two main account types: the 0% Commission Account and the Eco Account. The 0% Commission Account features no commission on trades, with the broker's revenue derived from spreads. The Eco Account is similarly structured but includes a tree-planting initiative, appealing to environmentally conscious traders. Both accounts provide access to the same range of assets and platforms.

The broker advertises low spreads, though specific figures are not publicly listed. Leverage up to 1:500 is available, which can amplify both gains and losses. There is no minimum deposit requirement explicitly stated, but the broker accepts deposits in both fiat currencies and Bitcoin without fees.

CedarFX supports the MetaTrader 4 (MT4) platform, available on desktop, web, and mobile (iOS and Android). MT4 is widely recognized for its advanced charting tools, automated trading capabilities, and user-friendly interface. The broker also mentions MT5 availability on its homepage, but this appears under the LHFX brand, creating some confusion.

The broker claims to offer over 180 tradable instruments, including major and minor forex pairs, commodities like gold and oil, global stock indices, individual stock CFDs, and cryptocurrency CFDs. This range caters to traders seeking diversification within a single account.

CedarFX accepts deposits via bank transfer, credit/debit cards, and cryptocurrencies, particularly Bitcoin. The broker states that all deposits and withdrawals are fee-free, and that withdrawals are processed within an average of 15 minutes. Multi-currency wallet support is also advertised, allowing traders to hold funds in various currencies.

While the promise of fast withdrawals is appealing, the lack of regulatory oversight means there is no guarantee of timely processing. Traders should verify the broker's payment processing reliability through independent sources before committing funds.

CedarFX distinguishes itself with a 'Plant a Tree' program, which likely plants a tree for every new account or trade. This initiative is part of the Eco Account but may extend to other accounts. The broker also offers 24/7 customer support via live chat and email.

The broker's website features live market prices and is recognized by industry platforms like FXStreet. However, these endorsements are often based on listing criteria rather than rigorous assessment. Traders should not rely solely on such mentions as indicators of reliability.