- 0.1 CFD2FXPro
- 0.2 Pros
- 0.3 Cons
- 1 CFD2FXPRO Review
Offering of Investment7.0/10
- Wide asset variety
- Attractive leverages and bonus
- Unproven web platform
- Bonus trap
- Maket Maker offering managed account
- Unspecified spread and cost of trading
CFD2FXPro is an unlicensed Forex and CFD broker that is owned and operated by the Lion Finance LTD located in ST. Vincent and the Grenadines.
CFD2FXPro is considered not safe, as it is new and not regulated and licensed by top-tier financial authorities, like the CySEC in Europe, UK FCA, the Australian ASIC and the US CFTC.
Scam artists will create moving websites to simply lure unsuspecting investors to sign up. Without proper documentation, investors sign up without having a second thought. And this is what scam artists are after, your funds by using enchanting marketing tactics. CFD2FXPro is no different as they claim to be ”Next Generation of Web Trading”. By claiming this, they are enticing investors into believing there are reliable and reputable. Is this the case with CFD2FXPro?
Is CFD2FXPro Safe?
Forex Broker Expert reviews brokers for readers across the whole world to know whether they worth your time or not. We use a trust score algorithms to asses risk level. They major criteria we use in grouping a forex broker in to risk levels include total years in business, which regulatory licenses each firm holds, is the broker publicly traded in any stock exchange as well as our manual in house check.
CFD2FXPRO is owned and operated by Lion Finance Ltd, an offshore company based on St. Vincent and the Grenadines. Forex trading goes on without proper regulation in this kind of location making it a choice base for scam companies and as we already noted they have no license, authorizing them to offer any kind of financial services on regulated markets like the European Union.
However, we saw that this broker have been sanctioned by the Italian regulator CONSOB for operating illegally in Europe.
Trading with unregulated brokers has always been associated with unreasonably high risks of losing your money to scammers. Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.
Using an FCA broker for example you will even get an extra protection from a client compensation fund, which basically will insure the first 85 000 GBP in your account even if your broker files for bankruptcy, see here.
Advantages of CFD2FXPro
When you visit their website, you will see claims like Free, powerful trading platforms. The go further to say ”Enhance your MT4 trading by signing up for VPS Hosting. Download and customize hundreds of prebuilt expert advisors. Utilise our expert programmers to automate your own strategy”
Now, bear in mind that a platform with no valid trading credentials simply cannot have any advantage. With such fake details being used to lure investors, we are sure no profit comes forth. Use of fake registration details couples with being flagged EU watchdogs are proof CFD2FXPro was a scam. Ensure you have a valid broker every time you sign up with an online investment platform. What these scam artists are doing is using fake credentials to lure investors.
CFD2FXPro Trading Platform
During our check on the CFD2FXPro, we saw that they are offering traders a very basic online trading platform that lacks important features. We could not see popular trading stations like Metaquotes software or Syrix platform.
For example we miss the option to run automated trading sessions – something that is quite easily achieved on a MetaTrader4 with the help of nearly a hundred customizable market indicators and trading bots. And an MT4 comes with an excellent set of advanced charting tools as well, see here.
CFD2FXPro Broker Breakdown
CFD2FXPro is furnishing users with 3 account types to choose from. Accounts are named Micro, Standard and Gold. Micro account require a minimum deposit of 250 EUR and leverges of 1:200, Standard Account requires a minimum deposit of 5000 EUR and offers leverages of 1:200. The Gold account requires a deposit of 20,000 EUR and leverages extend up to 1:300. CFD2FXPro did not specify important detail like the EURUSD spread for us to compare.
CFD2FXPro is offering a welcome bonus of between 25% and 80% depending on the account type. The issue with all trading bonuses is that they invariably come with some additional withdraw conditions, as for example a minimum trade volume requirement, which quite too often scammers use as an excuse to cancel your withdraw requests. Besides, the practice of offering trading bonuses is forbidden on the European market altogether
What is more, the CFD2FXPro is offering to manage your account. Now you should know that CFD2FXPro is a market maker and by definition, a market maker makes money whenever traders lose. Beware, if a market maker is managing your account it will have an incentive to lose your money in its own pockets. And this is exactly what CFD2FXPRO are doing. They are in a conflict of interest.
Is CFD2FXPro Licensed?
When the Forex Broker Expert reviews a new Forex or CFD broker, the best way to know if they are a legitimate broker is by checking for a valid license and the quality of the license. Many legal Forex brokers, are licensed by a local regulator like ASIC in Australia, FCA in the United Kingdom or by FSB South Africa.
Once more, CFD2FXPro is not a licensed broker. We will repeat our usual advice to trade only with brokers, licensed by an official financial regulator such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), or the Cyprus Securities and Exchange Commission (CySEC).
Are your funds safe with CFD2FXPro?
Is it possible users are depositing funds to owner’s bank account? These are some of the reasons why depositing funds with CFD2FXPro is the last thing to do.
Another perturbing issue is in relation to segregation of accounts. Pooling funds in one account is extremely risky which this broker is doing. CFD2FXPro is pooling funds in one account which is extremely risky. Members should not expect any compensation as this broker does not insure funds. Simply stay away from this broker and make sure to sign up with credible entities.
Our best advise for you
After checking all the moving parts of this website, we are sure CFD2FXPro is a scam. To stay safe, ignore all their pleas to sign up. Promotional materials such as videos and links should be ignored. Hackers are using these links to gain access to your data. Mark all their emails as Spam and warn your family and friends from joining this broker. Stay safe at all times by using recommended Forex trading tools and brokers.
CFD2FXPro Review Conclusion
What should be done is adding this broker to our scam blacklist. After making sure this broker is exposed, authorities are asked to investigate and shut this website down. Time to make the right decision is now. Stay away from brokers who lack proper licensing credentials and simply want you to deposit with them.
Compare CFD Providers
Why not sign up with leading and trusted Forex brokers? Start the success journey with industry recommended Forex brokers, read more.
Vantage FX is a popular broker that is licensed in Cayman Island and Australia. Social trading is offered via service providers like ZuluTrade and Myfxbook.
VantageFX offers attractive leverages on MT4 trading platforms, with very tight spreads, learn more.
Minimum deposit is $200, go try their Free Demo Account, signup here.
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