CFDxp brokers. Can you use them safely?
Forex brokers and CFD brokers. There are so many of them available on the internet. But, the one thing that we have learned is the fact that it is hard to find the best brokers and to avoid the brokers that aren’t legit and recommended.
CFDxp is one of these brokers that you can find online. But are they one of the recommended ones or not? With this review, it will prove that they aren’t as trustworthy and legit as what you might have hoped for. And, that according to regulators, that they are a high risk to use.
More info about the brokers
CFDxp is one of a few brokers that are only offering CFD trading and not offering any forex pairs. They are situated in Commonwealth of Dominica.
It seems that they have a legit address, email, and telephone. However, this isn’t confirmed that this info is really legit and really belongs to CFDxp. They are connected to a company, but this isn’t an international company and it isn’t registered correctly. Making this a risk to use.
Are they registered and regulated?
With being registered, you should be careful. There are some brokers that are claiming that they are registered, and they even give the name of the company that they are registered to. But, this doesn’t really make them registered. The company can be a fake or not an internationally known company. This is what CFDxp is all about. They are claiming to be registered, but they aren’t registered internationally.
And, because they aren’t registered internationally, they aren’t regulated. This is extremely important to make sure that a company is regulated. This is the only way to ensure that they are legal and doing things legally.
Account options and minimum requireda deposit
Another thing that we found as a problem is their account options and the minimum required a deposit. This is because there isn’t much information about it.
They are just saying that they offer one account, the standard account. This is the only information that you are getting. Why aren’t they giving more information about the account that you need to register to? And, there isn’t any information about the minimum required a deposit that you need to pay as well. Making this risky. You will not know how much money they are going to deduct from your account, once you are registered.
No trading information
When you are trading, you normally look for the trading information that the broker is giving. This gives you an indication if this is the right broker for you. But, the problem with CDFxp is that there isn’t any trading information. Not about what CFD options you have, or the name of their platform that they are using.
The question that you should ask is why don’t they give all the necessary information so that you can decide if you should use them as your brokers or not. Maybe because of they knowledge that they aren’t legit?
Not using the best platform
At first glance, it seems like that CFDxp has a great platform that you can use for trading. However, the platform is outdated and unknown. You don’t know the name of the platform that they are using.
The only thing that we know is that the platform isn’t MT4. The best platform in the market. And, this is putting your money and trading at risk. Too many traders are making use of brokers that don’t offer the best platform. This can lead to failure to make a success out of trading.
They don’t offer forex pairs
This is something that we do find strange. They don’t offer any forex pairs. In other words, they are only CFD brokers and not forex brokers as well. The question to ask is why. Why aren’t they making use of forex trading? This is the most popular trading format at the moment. This is a serious question that you should ask yourself. Why aren’t forex trading one of the things they are offering.
They aren’t recommended by regulators
We left the most important thing for last. What are regulators saying about CFDxp? With further investigation, it seems that regulators are warning traders about using CFDxp as brokers. There is way too little information about the brokers and they aren’t legit or registered. The one thing that regulators can say about these brokers is that they aren’t trustworthy and there are many other brokers that you can use instead.
When it comes to brokers like CFDxp, you will see that there isn’t much information about them. This is mostly because they aren’t registered and they aren’t regulated. There are other, better brokers out there that you can use instead. There is really not many good things about these brokers, and you should consider it before you decide that you are going to use them as brokers.