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CedarFX Broker Review 2020: Is It a Good Broker?

The CFD market has grown at a high rate in the past decade, driven by technological developments and quick access to computers and mobile phones. With so many CFD brokers out there offering very similar trading services, only a few brokers are able to offer the extra catalyst that differentiates them from other competitors in the market.

One of these brokers is CedarFX, a newly CFD platform launched in 2020 that offers traders zero commission trading and low spreads. On top of that, this broker offers a high leverage ratio on digital assets, FX currency pairs, stocks, and more.

If you are keen to know more about CedarFX, keep on reading this comprehensive review. In this review, we’ll cover the broker’s regulatory framework, trading platform, mobile application, account types, pros and cons, key features, and more.

What Is CedarFX?

Launched in 2020, CedarFX is one of the newest online CFD trading platforms in the market. This broker gives investors access to more than 180 tradable assets from different markets that include FX currency pairs, global stock indices, stocks, commodities, metals, and digital assets.

CedarFX Homepage

Trading on CedarFX is based on commission-free pricing, meaning there are no trading and no account management fees. The new broker is largely focused on an innovative and easy trading environment, with a crypto-friendly approach. As such, CedarFX not only allows users to trade on 35 cryptocurrency pairs but it also enables users to deposit and withdraw funds using bitcoin.

The broker is based in St. Vincent and the Grenadines.

Is CedarFX Broker Legit?

As of December 2020, CedarFX is not yet regulated by any top leading financial agency. But this does not come as a surprise as CedarFX was launched this year and typically, it takes time to get a license from financial regulators.

Overall, after reviewing this platform we can confirm that CedarFX is completely legit and safe. The broker discloses the most important information to its clients including terms and conditions, privacy policy, AML policy, and risk disclosure. More than that, the broker uses encryption technology to ensure clients’ data is transferred to and from its servers in the safest way.

Then, the broker offers a number of safe deposit and withdrawal methods with the safest of all is bitcoin. The most popular cryptocurrency, which is considered by many the ‘secure money of the Internet’ is essentially enabling users to send and receive money without revealing personal information linked to their bitcoin wallet or account.

Markets and Products

CedarFX offers a selection of more than 180 financial instruments to trade on from various markets. Those include FX currency pairs, indices, stocks, commodities, and cryptocurrencies. Here’s the assets list available on this platform:

  • Forex – 47 majors, minors and exotic FX currency pairs
  • Cryptocurrencies – 35 crypto coins including some of the most popular altcoins
  • Stocks – 64 stocks from the US and top European exchanges
  • Stock Market Indices – 11 global indices
  • Commodities and Metals – 7 energy and precious metals commodities

Trading Features

There are several features that make CedarFX a better option than other CFD brokers in the industry. Those include:

High Leverage Trading – CedarFX offers a high leverage ratio of 500:1 for forex and metals, 200:1 for stock indices and commodities, 100:1 for cryptocurrency pairs, and 20:1 for US and European stocks.

The Eco Account – Unfortunately, it is very unusual to see any consideration or care for climate change issues in the financial industry. CedarFX is one of the few brokerage firms that is offering an eco-friendly approach. As such, traders have the option to open the Eco Account that enables them to donate funds to Ecologi, an organization that is focused on planting trees and supporting carbon reduction projects across the globe.

CedarFX eco accountAccepts Bitcoin as a Payment Method – Another key feature of CedarFX is that it allows users to deposit funds with bitcoin. In fact, bitcoin is the main deposit method of this broker, and it takes only 5 minutes to one hour for the funds to be transferred into the account.

Trading Platforms

CedarFX offers users the most popular trading platform in the CFD market, the MetaTrader4. Users at CedarFX can use the platform on their desktop, web-browser, mobile, or tablet. The broker, however, does not support the MT4 platform on Mac computers but you can always install Windows on your Mac with Bootcamp assistant.

Some of the key features of MT4 include:

  • Over 30 in-built technical indicators on this platform
  • Different types of trading orders
  • Expert Advisors (EA) – users can utilize automated (algorithmic) trading
  • 2000 free custom indicators
  • Built-in plugins
  • Excellent mobile app

CedarFX MetaTrader4Fees and Spreads

One of the most important factors when choosing a broker is its fee and commission policy. When it comes to CFD brokers, there are some significant costs to take into consideration such as deposit and withdrawal fees, inactivity fee, overnight financing, and spreads.

The stand-out selling point of CedarFX is its zero-commission trading policy and ultra-low spreads that allow users to minimize their trading costs. Here are the fees CedarFX may charge:

Zero-commission Trading

CedarFX simply does not charge any fee when a trader gets in and out of a position. This makes the platform ideal for those who are looking for a day/swing trading platform. Unlike traditional brokerage firms that charge a fixed fee per trade, this broker allows traders to buy and short sell assets without having to pay any commission rather the buy and sell spread.

Deposit and Withdrawal Fees

Although this fee is not collected in the same way as other trading fees, the majority of forex brokers typically charge a fee when a user asks to make a deposit or withdraw funds. In that case, CedarFX does not charge any fee when a user makes a deposit via their website. However, you’ll have to take into consideration a fee of 0.0005BTC when depositing funds via bitcoin. This is a fee that is being charged by the blockchain network and not by the broker. Unfortunately, the broker does not disclose any information about its withdrawal so you’ll have to contact the CedarFX support team the get more information on this matter.


Lastly, CFD brokers typically charge a spread for each trade made. CedarFX offers users to trade with very competitive spreads when compared to other brokers in the industry. As such, the spread on the EUR/USD is as low as 0.7 pips, which is way below the spread charged on other trading platforms. Another crucial aspect of this broker is that it offers variable spreads, meaning that the bid and ask spread will constantly change but it remains within a certain range most of the time.

CedarFX SpreadsHow To Open An Account With CedarFX

Signing up for an online trading account with CedarFX is free and easy. The broker makes it extremely simple to open an account and start trading, and the process should not take longer than 5-10 minutes. To get started, follow the steps below:

Sign Up for A Trading Account

The first step you need to take in order to open a trading account with CedarFX is the visit the broker’s homepage and complete a short sign up process. You’ll then have to enter some personal information such as your full name, email address, and create a password. Alternatively, you can sign up by using your Google or Facebook account.

CedarFX sign up

Deposit Funds

As soon as you have completed the registration process, you will be transferred to the CedarFX trading dashboard. Then, if you wish to start trading the live markets, navigate to the deposit button on the menu, and make a deposit using one of the supported payment methods (Bitcoin, credit/debit card, bitcoin vis instacoins, bank wire transfer).

CedarFX deposit funds

Set Up the Trading Platform and Start Trading

If choosing bitcoin as a payment method, you’ll see the funds in your account after 5 minutes- one hour. Meanwhile, choose the method you wish to trade on the MT4. As a reminder, you can download the platform to your desktop, use it on your web browser, or download the mobile app to your smartphone.

Whenever you are ready to place an order in the market, choose the asset you wish to buy or short sell on the MarketWatch window and double click it. Then, in the order form, insert the amount, price, and type of execution.

CedarFX Place an orderCedarFX – Pros and Cons


✅ CedarFX provides the Eco account that collects money and sends it to Ecologi

✅ A decent range of products

✅ Supports the MetaTrader4 on a desktop, web browser, mobile, and tablet

✅ Zero commission policy and very competitive spreads

Crypto-friendly platform

An extensive range of cryptocurrency pairs

Low minimum deposit

Accepts bitcoin as a payment method

✅ Offers high leverage ratio


❌ Not regulated by any regulator 

❌ The broker does not provide ETFs

❌ No education and research tools


Launched in 2020, CedarFX is one of the latest platforms to join the CFD market. The broker efforts to develop a different type of trading environment by offering users zero-commission trading, a high leverage ratio, and a cryptocurrency-friendly platform. On top of that, CedarFX has good intentions by allowing users to open the Eco Account and collect funds for planting trees and reducing the number of polluting projects around the world.

Overall, CedarFX is an excellent solution for any trader that is looking for a cost-effective, safe, and advanced CFD platform.

Click here to sign up to CedarFX today!


Is CedarFX safe?

Yes, CedarFX is completely safe. This broker makes sure clients' funds are safe as it uses bitcoin as the main payment option. Moreover, the protects its clients by using top-notch encryption technology.

What is the minimum deposit requirement at CedarFX?

The minimum deposit requirement at CedarFX is just $10 if using bitcoin as a payment method. For any other payment method, the broker requires a minimum of $50 to get started.

Does CedarFX provide automated trading?

Yes, CedarFX offers automated trading via the MetaTrader4 platform. The Expert Advisor on MT4 is one of the best features of this platform as it allows users to develop algorithmic trading.

How much does it cost to trade with CedarFX?

CedarFX is a free-commission trading platform, which means you do not have to pay any trading or account management fees. Instead, the only fee you have to pay is the spread.