CFDPremium Review Scam Complaint
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CFDPremium is an offshore forex and CFD broker, just as its name suggests. CFDPremium as given an address and a contact number based in the UK. The broker has not provided much information regarding its owner company or trading conditions. Moreover, the broker has provided various misleading information regarding its regulation. Let’s know about this broker in detail in this review.
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About the CFDPremium:
CFDPremium is an offshore broker that offers its clients a good variety of 5 different types of trading accounts. The five types of accounts offered by the broker are Initial accounts, Regular account, Intermediate account, Advanced account and Superior account. The first wo basic accounts, Initial and the Regular are offered to the clients on the Sirix trading platform with the minimum trading size with both of the accounts is 0.01 lot or 1000 base currency units. Whereas, the accounts Intermediate, Advanced and Superior are offered on the very popular MetaTrader4 platform. The minimum trading volume with the three premium accounts is 0.1 lot or 10,000 base currency units. CFDPremium offers a good list of 64 forex pairs which includes the exotic currencies like Russian Ruble, Singapore Dollar, Swedish Krone, Hong Kong Dollar, Danish Krone, Mexican Peso, Norwegian Krone, South African Rand, Turkish Lira, Polish Zloti, Hungarian Forint, Czech Krona, and Israeli Shekel as well as CFDs on spot metals, oil, indices, and natural gas but offers no CFDs on crypto currencies.
The broker provides a maximum leverage ratio of 1:400 for all the CFDPremium account holders and that could satisfy even the most aggressive trading strategies but it involves a great risk as well. For opening an Initial account with CFDPremium one needs a $500, for a Regular Account $1000 is needed, for an Intermediate Account $2500, for Advanced Account $10,000 and for a Superior Account $25,000 is needed. This minimum requirement by an unregulated broker is way too much.
Is CFDPremium legit or scam?
CFDPremium is an unregulated broker with no credibility and a lot more scam suspicion. The broker has mentioned on its website that they own a Financial Services board Regulatory mechanism, how that even possible. FSB is the former name of South African Financial Regulator and they have no company named CFDPremium registered with them. This shows that CFDPremium is a complete scam and we would advise the traders to avoid trading with this scam broker and keep your money safe.