CFD Corporate Review Scam Complaint
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CFD Corporate is an offshore broker who provides services in forex trading. The broker is not regulated from any financial regulation. CFD Corporate is owned by Mpower Technologies Ltd, situated in Cyprus. The broker on its own website openly states that it is not regulated and even warned the potential traders about the risk involved in trading with unregulated broker. CFD Corporate is a broker with some major concerns, so it is advised to go through this review first before investing with them.
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About the CFD Corporate:
CFD Corporate is an unregulated highly risky broker. CFD Corporate gives free access to its trading platform and through that you could see the high amount of 30 pips fixed spread. This spread is twenty times of what the industry average is and unreasonably high, instead of this the brokerage does not hide it. The reason of charging such a high amount is to induce more clients to deposit more money and get a more expensive account, since one of the benefits of such an account would be a better spread. When you go through the lengthy terms and conditions on broker’s website you will find a well hidden number of fees. The highest one is called the “dormant fee” for those accounts that have been inactive for more than three months. On such accounts the brokerage will charge $99.99 a month for maintenance.
CFD Corporate provides its potential clients with one strong web based platform which is accessible, readable and does not lack analytical potential. However, traders always prefer MT4/MT5 trading platform for trading. CFD Corporate provides its clients a good high leverage of up to 1:400. The minimum deposit required to open a most basic account with the broker is $250, where as for the most premium account the minimum deposit is not disclosed by the broker.
Is CFD Corporate legit or scam?
CFD Corporate, as said above is an unregulated broker who clearly mentioned this on its website. The broker charges unreasonably high fees from clients and even high spreads to lure clients to deposit more money. The broker is undoubtedly a scam broker as many clients have filed complaints about the issues they have faced in withdrawing their money from their trading accounts with the broker. Many of these clients have left with losing all of their money. Therefore, it will be advised to not fall for this scam broker.