What is CFXBinary.com?
CFXBinary.com is a website that offers online forex trading services. It is owned and operated by CFX Markets Ltd, a company registered in the Republic of Vanuatu. The website was launched in 2014 and has since become a popular choice for online forex traders.
The company offers a wide range of currency pairs for trading, as well as other financial instruments such as CFDs, metals, and indices. The website is available in English, Spanish, French, German, Italian, Russian, and Portuguese.
CFXBinary.com is regulated by the Vanuatu Financial Services Commission (VFSC), and all client funds are held in segregated accounts with major banks. The company also has a strong focus on security, with SSL encryption and 2-factor authentication available to all clients.
Overall, CFXBinary.com is a reliable and safe choice for online forex trading. The company offers a wide range of features and tools to its clients, and is committed to providing a secure and enjoyable trading experience.
Is CFXBinary.com a Legit or Scam Forex Broker?
CFXBinary is a forex broker that claims to offer a “simple and convenient” way to trade foreign currencies. However, there are several red flags that make us question whether CFXBinary is a legitimate broker or a scam.
First of all, CFXBinary does not have a valid license to operate as a forex broker. There is no information on the website about who regulates this broker. This is very suspicious as all legitimate forex brokers are required to be licensed by a financial regulator in order to legally offer their services.
Secondly, the website of CFXBinary looks very unprofessional and amateurish. The design is outdated and there are many grammar and spelling errors on the site. This is not what we would expect from a serious and professional company.
Thirdly, the spreads offered by CFXBinary are much higher than the average spreads offered by other brokers. For example, the spread on EUR/USD currency pair is 3 pips, while the average spread for this pair is only 1-2 pips. This means that you will be paying more when you trade with CFXBinary than with other brokers.
Fourthly, there have been several complaints from traders about this broker on different online forums. Traders have reported issues with withdrawals and customer service. This is another red flag that makes us question whether CFXBinary is a scam or not.
All in all, we would not
What are the Pros and Cons of CFXBinary.com?
CFXBinary.com is a forex broker that offers its services to traders around the world. The company is headquartered in the Seychelles and is regulated by the Seychelles Financial Services Authority (FSA).
The company offers its clients a wide range of currency pairs, CFDs, and metals for trading. The minimum deposit required to open an account with CFXBinary.com is $250, and the minimum trade size is 0.01 lots.
CFXBinary.com uses the MetaTrader 4 (MT4) trading platform for desktop, web, and mobile devices. The broker also provides its clients with a free demo account so that they can test out the platform before committing to a live account.
The main advantage of CFXBinary.com is that it offerstight spreads and high leverage of up to 1:500. This makes it an attractive option for experienced traders who are looking for a broker that can provide them with the opportunity to make significant profits from small price movements in the market.
Another advantage of CFXBinary.com is that it has a very user-friendly platform which is suitable for both beginners and experienced traders alike. The platform is also available in multiple languages, which makes it accessible to traders from all over the world.
A potential disadvantage of CFXBinary.com is that it is not currently regulated by any major financial regulator such as the US Securities
How to Deposit and Withdraw Funds from CFXBinary.com?
To deposit or withdraw funds from CFXBinary.com, you will need to log in to your account and click on the “Deposit/Withdraw” tab. From there, you can choose your preferred method of payment and enter the amount you wish to deposit or withdraw. CFXBinary.com accepts a variety of payment methods, including credit/debit cards, bank wire transfers, and e-wallets such as Skrill and Neteller.
Once your deposit or withdrawal request has been processed, you will receive an email confirmation. Please note that withdrawals may take up to 5 business days to process.
CFXBinary is a legit forex broker that offers its clients a simple and easy to use platform, competitive spreads, and fast execution speeds. However, it does have some drawbacks, such as the lack of customer support and the limited number of currency pairs available for trading. Overall, CFXBinary is a decent choice for forex traders who are looking for a simple and straightforward broker.