CFD Global Review
CFD Global offers its clients a single commission-free account type with leverage up to 1:200, fixed spreads and the option to trade in micro lots on the MetaTrader 4 platform. Clients who deposit more than $5 000 are entitled to some extra services (such as Premium Daily Analysis and Premium Customer Care).
Keep in mind that this broker does not accept citizens of Japan, Canada and USA as its clients.
The Company. Security of Funds
Key Way Investments Ltd.
CFD Global offers trading in 45 currency pairs, precious metals and CFDs on stocks, commodities, bonds and indices through the industry’s standard MetaTrader 4.
CFD Global is the trading name of Key Way Investments Ltd., a Cypriot Investment Firm (CIF) licensed by Cyprus Securities and Exchange Commission (CySEC) in 2016.
CIFs are required to hold at least €730 000 as a proof of their financial stability and to keep client funds in segregated accounts, as well as to report to the Commission on a regular basis.
Furthermore, CySEC applies a compensation scheme as an additional guarantee to clients’ funds. All licensed brokers are members of the Investor Compensation Fund, which may cover a maximum of 20,000 EUR per person in the event of broker insolvency.
Besides, as Cyprus is part of the European MiFID regulations, all CySEC regulated are free to operate in all EU Member States.
Minimum Initial Deposit
In order to open an account with CFD Global, traders have to invest a minimum of $1000, which is a comparatively high initial deposit. Yet, many Cyprus-based brokers require less. In order to open an account with FXTM, for example, one has to deposit just $5. The minimum initial deposit required by another Cypriot broker, HotForex, is $50.
Spreads & Commissions
CFD Global offers commission free-trading, as is usually the case with fixed-spread brokers. Unfortunately, this broker’s spreads are rather high, amounting to 3 pips for the EUR/USD pair.
For purposes of comparison, HotForex provides spreads fixed at 1.8 pips on EUR/USD. For more information, you may look up real-time spreads of 15 leading brokers here.
The maximum leverage level offered by CFD Global is 1:200. Such ratio is common for the FX market, yet the CySEC has proposed 1:50 as default leverage. According to the Cypriot financial watchdog, brokers offering “excessive leverage” to retail clients are most likely not doing it in the best interest of traders, because the higher the leverage, the greater the risk.
Nonetheless, many Cyprus-based brokers offer high leverage levels – for example, HotForex and FXTM both provides leverage up to 1:1000.
MT4 remains the preferred choice for most traders globally, as it provides a full array of trading tools and features: more than 50 built-in technical indicators, advanced charting package, a wide range of Expert Advisors (EAs) and extensive back-testing options for them. Traders can download ready-made or create their own EAs and let the program do all the work.
Methods of Payment
CFD Global supports a small range of payment methods – credit/debit cards & bank wire transfer. Popular e-wallets like Skrill and Neteller are not available with this broker.
Accepted currencies: USD, EUR and GBP.
CFD Global is a Cypriot forex broker, offering trading in FX and CFDs on the popular MT4 platform. The main problem with this broker is the high cost of trading and besides, its offerings are quite limited: it provides only fixed spreads solely on one trading platform, e-wallets are not available as payment methods, nothing is mentioned on its website about VPS hoisting, account management services, etc.
CFD Global Review Conclusion
For more information about currency trading brokers visit TopForexBrokers.com forex brokers comparison website, Tip ForexSQ.com foreign exchange trading experts please by share this article about CFD Global Review.