CFD Global FX Review 2024
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United States not accepted.CFD Global FX Review
CFD Global FX is a broker offering trading on several markets, including forex, indices and commodities. This review looks at the company’s trading app and fees, as well as regulation and payment methods. Find out if you should login with a CFD Global FX account today.
CFD Global FX Ltd Details
CFD Global FX is an unregulated STP broker claiming to offer accessible account types with competitive trading conditions. Despite this, the broker isn’t transparent about their company details, with no clarity on registered location or history.
The broker offers a range of assets, including FX, cryptocurrencies, commodities and indices, using their proprietary trading platform.
CFD Global FX Client Terminal
The provider’s own platform is available for download or accessible straight from a web browser. The software offers a customisable interface, with comprehensive trading features, including 23 languages, live quotes and enhanced charting functionality. There’s also a full range of order management tools, trading history, plus pre-programmed analytical tools.
The platform also supports algorithmic trading strategies using trading robots, which allow you to trade the markets 24/5 without intervention.
Markets
CFD Global FX offers over 70 trading assets, which includes 44 FX pairs, 4 precious metals, plus a selection of commodities, cryptocurrencies and indices. While a pretty decent mix of assets, clients have to open an account before they can see product-specific details.
Spreads & Commission
Spreads are not very competitive at CFD Global FX, ranging from 1.4 to 1.8 pips with the Standard account. ECN spreads from 0.0 pips are available with the Premium account, though you would need a $10,000 initial deposit to access these.
Fortunately, there are no commissions with the Micro and Standard accounts. In the Premium ECN account, commissions are $10 per round turn.
The broker isn’t transparent with trading conditions in general, so it’s worth contacting the customer support team for further details on fees.
Leverage Review
The maximum leverage available is 1:500 in the Micro account. The leverage limits in the Standard and Premium accounts are 1:400 and 1:100 respectively. These are high rates and allow users to take large positions with minimal cash outlay. But while a tempting proposition, such high leverage can also increase potential losses.
Mobile Trading
CFD Global FX offers the mobile version of its platform, which is compatible with both Android and Apple devices. The app comes with over 20 indicators, all types of orders, real-time trading from the live tick chart and full account management features. The app is easy to download from the Play Store or App Store.
Payment Methods
CFD Global FX offers funding via bank transfer and credit/debit cards. Processing times for withdrawals tend to take 2 – 5 business days. The broker claims to offer free deposits and withdrawals, though traders should check for any additional fees with their bank or card provider.
Deposits and withdrawals can be requested from within the client area. Traders will need to complete a printable form for withdrawals which this review was disappointed to see.
Demo Account
CFD Global FX offers a practice account with $1,000 pre-loaded virtual funds, available for an unlimited time. Beginners can take advantage of the demo account if they want to become familiar with the trading platform. Demo accounts are also great for experienced traders who want to practice their skills.
CFD Global FX Bonuses
At the time of writing, CFD Global FX does not offer any bonuses or promotional deals. Traders should check the broker’s website for any upcoming offers.
Licensing Review
CFD Global FX is not licensed with a regulatory authority, which does raise some concerns around safety. The broker is also not transparent about their company history or registered location. With this anonymity and lack of transparency, we would warn traders to be careful if considering this provider as it may be a scam.
Additional Features
Other than an economic calendar, CFD Global FX does not offer any additional tools or educational resources. Traders looking for a comprehensive selection of resources are better off signing up elsewhere.
CFD Global FX Accounts
There are three account types available at CFD Global FX: Micro, Standard, and Premium.
The minimum initial deposit in the Micro account is $500, which is fairly steep for beginners. The minimum trade size for the Micro and Standard accounts is 0.01 lots. There is commission-free trading with these two accounts, which also offer the highest leverage up to 1:500.
The Premium account offers the tightest spreads, plus a Free VPS and an account manager. But clients will need to deposit $10,000 to utilise the account’s benefits.
Pros
Advantages of choosing this broker include:
- Leverage up to 1:500
- Unlimited demo account
- Commission-free trading
Cons
There are some disadvantages to choosing CFD Global FX:
- Unregulated
- No education or tools
- No choice of platforms
- Lack of transparency on the website
Trading Hours
General trading hours are 24 hours from Sunday at 23:00 GMT to Friday at 23:00 GMT. You can find individual asset trading times within the broker’s platform.
Customer Support
Unfortunately, the only way to get in touch with CFD Global FX is via email, at support@cfdglobalfx.com. This is a concern, as genuine and trustworthy brokers usually offer some faster methods of contact, such as a live chat service. Unless you’re willing to sign up with a broker that offers no telephone support or real-time chat, it’s best to consider other providers.
Security
The broker claims to follow international security protocols, using 128-bit encryption on its platform as well as on the website. Users will not benefit from negative balance protection, however.
CFD Global FX Verdict
CFD Global FX claims to value quality, reliability and transparency. However, our review has revealed quite the opposite, with no transparency around trading conditions and regulation. This could be a sign of a fake company, so we would recommend exercising caution if you’re thinking about registering for an account.
Top 3 Alternatives to CFD Global FX
Compare CFD Global FX with the top 3 similar brokers that accept traders from your location.
- IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
- Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
- World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
CFD Global FX Comparison Table
| CFD Global FX | IG | Interactive Brokers | World Forex | |
|---|---|---|---|---|
| Rating | 1.5 | 4.4 | 4.3 | 4 |
| Markets | Forex, CFDs, indices, commodities, cryptocurrencies | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies | Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts |
| Demo Account | Yes | Yes | Yes | Yes |
| Minimum Deposit | $500 | $0 | $0 | $1 |
| Minimum Trade | 0.01 Lots | 0.01 Lots | $100 | 0.01 Lots |
| Regulators | – | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM | SVGFSA |
| Bonus | – | – | – | 100% Deposit Bonus |
| Education | No | Yes | Yes | No |
| Platforms | Own | Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral | MT4, MT5 |
| Leverage | 1:500 | 1:30 (Retail), 1:250 (Pro) | 1:50 | 1:1000 |
| Payment Methods | 3 | 6 | 6 | 10 |
| Visit | – | Visit | Visit | Visit |
| Review | – | IG Review |
Interactive Brokers Review |
World Forex Review |
Compare Trading Instruments
Compare the markets and instruments offered by CFD Global FX and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
| CFD Global FX | IG | Interactive Brokers | World Forex | |
|---|---|---|---|---|
| CFD | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes | Yes |
| Commodities | Yes | Yes | Yes | Yes |
| Oil | No | Yes | No | Yes |
| Gold | Yes | Yes | Yes | Yes |
| Copper | No | Yes | No | No |
| Silver | Yes | Yes | No | Yes |
| Corn | No | No | No | No |
| Crypto | Yes | Yes | Yes | Yes |
| Futures | No | Yes | Yes | No |
| Options | No | Yes | Yes | No |
| ETFs | No | Yes | Yes | No |
| Bonds | No | Yes | Yes | No |
| Warrants | No | Yes | Yes | No |
| Spreadbetting | No | Yes | No | No |
| Volatility Index | No | Yes | No | No |
CFD Global FX vs Other Brokers
Compare CFD Global FX with any other broker by selecting the other broker below.
FAQ
Is CFD Global FX a scam?
The broker is not transparent with their company details or registered address and therefore could be a scam. Traders should check online reviews and customer forums for scam alerts.
Is CFD Global FX regulated?
CFD Global FX is an unregulated broker and therefore will not provide you with the same quality of protection as well-known authorities, such as the Cyprus Securities and Exchange Commission (CySEC).
What account types are offered at CFD Global FX?
CFD Global FX offers three account types: Micro, Standard, and Premium ECN. The Micro and Standard accounts are commission-free.
How much capital do I need to trade at CFD Global FX?
You will need at least $500 to open a Micro account and up to $10,000 to open a Premium ECN account.
How can I contact CFD Global FX?
The only way to get in touch with the broker is by emailing support@cfdglobalfx.com. Live chat and telephone support is not offered.
Customer Reviews
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