The forex and CFDs broker CFreserve is operational from the Republic of Ireland. The broker offerings have only one trading account. The broker has a plethora of the tradable assets that can be traded with good leverages and spreads. Unfortunately, the broker CFreserve is not regulated by any financial watchdog. Also, there are many red flags this broker has received, and its credibility is very low. In this CFreserve review, we will canvas the whole picture of this broker. Readers’ prompt attention is appreciated.
We believe in impartial and legit review, and to make this review like this, we will talk about all the crucial advantages and disadvantages of CFreserve.
The first half of this review will cover possible advantages. The broker has a good variety of foreign exchange pairs, including exotic and minor ones. There are seven indexes, stocks, commodities, and cryptocurrencies included in the product portfolio. The offered cryptocurrencies are Bitcoin, Ripple, Ethereum, Zcoin, IOTA, NEM, and much more. The spread of 0.4 pips is being provided on EuroUSD fx pair and is attractive. Traders appreciate the low spread values. Furthermore, the minimum deposit of $250 is required to open an account with CFreserve, and it is according to the current market value. Additionally, the broker also has the facility to deposit Australian Dollars.
Unfortunately, the broker CFreserve is run by an unregulated entity called Richfield LTD. The financial regulator of Ireland Central Bank of Ireland regulates brokers in the country. We could not find the name of CFreserve in its registry. The withdrawals at CFreserve requires a minimum trading amount and minimum trading period to be eligible for the withdrawal. It also provides controversial trading bonuses. The bonuses require a minimum of 300 times trading volume to be eligible for bonus withdrawals. Such terms and conditions can not be fulfilled quickly, and traders will not be beneficial from it. Most trusted MetaTrader trading platform is not available at this broker; it is yet another setback for the clients of CFreserve. The broker also provides leverage of 1:10, and it is shallow.
Is CFreserve scam or legit?
The broker is situated in the overseas without any regulation and license. The trading conditions are not that great. MetaTrader is unavailable for CFreserve’s clients. All in all, the broker under consideration is a potential Australian trading scam.