Summary
CedarFX is currently flagged as a high-risk trading platform due to its lack of verifiable regulation and numerous user complaints regarding fund withdrawals. Financial authorities have issued warnings against CedarFX, suggesting it may be operating illegally. If you are considering an investment or have already lost money, this guide outlines the immediate steps you should take for fund recovery.
About CedarFX
CedarFX claims to be a leading brokerage offering high-leverage trading in forex, cryptocurrencies, and stocks. Despite its professional-looking website, there is little evidence to support its claims of being a legitimate financial service provider.
- Website: https://lhfx.com/
- Address: 1 Hood Avenue Rosebank Johannesburg Gauteng 2196
- Regulation Status: Unregulated / Unauthorized
CedarFX is Green on the Surface
The growing number of complaints from the investment community regarding CedarFX being a fraudulent broker based offshore and misleadingly using Eco-Accounts to create the illusion of eco-friendliness (without any real form of regulation) continues to grow. CedarFX claims that for each lot traded, they will plant a tree; however, according to sources external to the brokerage, this is a tactic to create the appearance of responsibly and the deceptive trustworthiness of their customers. Many investors described CedarFX as a “money hole” with high risks; investors can deposit their funds easily, but once inside the brokerage’s internal processes, it is almost impossible to retrieve their funds.
Predatory Customer Support and Influencers
Numerous victims of CedarFX have come forward about their experiences with Customer Support being predatory and intentionally unhelpful, providing direct conflicting information that resulted in financial losses. Victims have reported that even when they presented representatives of CedarFX with proof that their information was incorrect, and representatives admitted to making errors, they were unable to receive a credit to their accounts due to “technicalities” that CedarFX invoked to avoid returning customer funds.
Lost Funds to CedarFX?
If you have lost funds to CedarFX, take action now. Avoid further delays and submit a case review form to understand your fund recovery and legal paths.
Is CedarFX a Trustworthy Platform?
To determine if CedarFX is safe, we look at several transparency benchmarks:
- Valid Licensing: Does it hold a license from a top-tier regulator? Most suspicious brokers claim to be “regulated” but fail to provide a clickable license number that links back to an official government database.
- Physical Traceability: Are the provided phone numbers and office addresses real? Many high-risk platforms use “virtual offices” or fake addresses to avoid legal process.
- User Testimonials: Are the reviews consistent? A common pattern for CedarFX is a series of “perfect” 5-star reviews followed by dozens of detailed 1-star complaints about blocked withdrawals.
Conclusion: Without a verifiable license or a transparent corporate identity, the risk of losing your entire deposit is extremely high.
How Risky Platforms Often Operate
Fraudulent trading platforms typically use these three main strategies:
1. The “Pig-Butchering” Tactic
Scammers build long-term relationships through social media or dating apps. They “fatten up” the victim by showing fake profits on the CedarFX dashboard before “slaughtering” them by freezing the account once a large deposit is made.
2. Clone Trading Software
CedarFX may use “cloned” platforms that look like MT4 or MT5 but are actually closed loops. The charts may look real, but the broker controls every price movement, ensuring you “win” initially to encourage more deposits.
3. The “Tax and Fee” Loop
Once you request a withdrawal, the broker will claim you need to pay a “20% tax” or “liquidity fee” upfront. Real brokers never ask for separate payments to release your own funds.
Warning Signs Associated with CedarFX
- Guaranteed Returns: No genuine investment can promise guaranteed profits without any risk.
- High-Pressure Sales: Representatives call or message repeatedly, urging you to “invest now” before a fake deadline.
- Withdrawal Denials: Support becomes unresponsive or aggressive the moment you ask to take your money out.
What to Do If You Have Invested with CedarFX
- Cut Off Communication: Stop talking to the “account manager.” They are trained to manipulate you into sending more money.
- Alert Your Bank: Contact your credit card company or bank to see if a chargeback is possible. Mention “investment fraud” specifically.
- Document Everything: Export your trade history, save all chat logs, and take screenshots of the CedarFX website and your account balance.
- Report to Authorities: Submit a complaint to your local cybercrime department and the relevant financial regulator.
FAQ: Frequently Asked Questions
Q1. Is CedarFX a scam?
While “scam” is a legal term, CedarFX exhibits all the classic red flags of a fraudulent broker, including a lack of regulation and reports of withheld funds.
Q2. Can I get my money back from CedarFX?
Recovery is possible through bank chargebacks or specialized legal recovery services, provided you act quickly and have documented evidence of your transactions.
Q3. Why does CedarFX have some positive reviews?
Many high-risk platforms buy fake reviews or offer “bonuses” to users who write positive comments before they realize they cannot withdraw their funds.
CedarFX operates without proper regulation, and its risky practices make it a dangerous choice for investors. Always check a broker’s license on official government websites before investing any money to safeguard your finances.
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