CF Group Review Scam Complaint
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CF Group is an offshore broker that claims to offer forex and CFD trading services. CF Group was founded in 2008 and it has two subsidiaries, namely CF Global UK Ltd and CF Group Ltd. CF Group claims to offer its clients 4 types of accounts for trading. Although the trading conditions of this broker seems attractive but there are a lot of issues wih this broker. In the review given below we have discussed all the concerns about this broker in detail.
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About the CF Group:
CF Group is an unregulated broker that offers four types of accounts, Mini, Standard, Platinum and Buffet. According to the information given on the broker’s website, it has been found that one can open an account with the broker by depositing $70, which is not so high initial deposit requirement. It has also been found that the broker offers leverage up to 1:500 which is a pretty high leverage ratio. Moreover, it appears that clients of CF Group are offered to trade in the most popular cryptocurrency CFDs, such as Bitcoin, Ripple, Ethereum, Bitcoin Cash, and EOS along with some forex pairs, and CFDs on commodities, precious metals, and indices.
The broker CF Group uses a proprietary platform that has not been seen with any other broker and the name of the same is not known. The platform is available as a desktop version and mobile apps. One could not test it as there is no demo account facility provided by the broker. Importantly, New Zealand’s FMA warned against using this Android app. In the About us section of the broker’s website the company has claimed that it has received a number of awards and didn’t mention any details for the same. This is one os the false claims of this broker that makes it seem even more unreliable and scam.
Is CF Group legit or scam?
CF Group is an un regulated broker that has made a lot of false claims and cannot be trusted. There is claim on broker’s website of the broker that CF GLOBAL UK LIMITED is regulated by the Financial Conduct Authority (FCA) in the UK, while the fact is that it is not registered with FCA. On top of all, the Financial Markets Authority (FMA) of New Zealand has alerted the public about CF Group. Therefore, it is a scam broker and handing your money to them will be a complete risk.