CFreserve Review Scam Complaint
CFreserve Review – An Introduction
CFreserve is an offshore based forex and CFD broker and unfortunately the broker is not regulated by any financial authority. CFreserve is an Ireland based broker, according to its claim. The broker is owned and operated by Richfield Ltd which too is based in Ireland. Neither the broker nor its parent company is licensed by Central Bank of Ireland or any other European Financial watchdog. The broker lacks credibility and along with it many more things, lets know about that in the below given review.
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About the CFreserve:
CFreserve is an offshore unregulated broker that is based in Ireland and offers trading in a variety of financial assets. The broker CFreserve offers its clients over 35 forex pairs, lots of which are minor and exotic currency pairs like USDMXN, USDDKK, USDPLN, USDNOK, USDSEK, USDRUB, USDZAR, and USDSGD as well as CFDs on around 7 stocks, indices and a number of coins, including Bitcoin, Dash, Bitcoin Cash, Ethereum Classic, Ethereum, OmiseGo, Litecoin, Lisk, Ripple, Monero, and Zcash. The spread provided by CFreserve on trading platform the benchmark is floated about EURUSD 0.4 pips, which is considerably good. Still, the broker does not provide option to open a demo account, and that’s why one cannot be sure that there are no trading commissions.
The initial minimum deposit requirement by CFreserve is $250 and that is in line with the average of the industry and with what most other brokers require as well. The suspicious thing about CFreserve is its requirement or asking for a minimum trading amount and a minimum trading period, before a client could withdraw its money from the account. And this doesn’t include trading bonus but the amount you deposited for trading and that is your own money and CFreserve cannot ask you to fulfill such conditions before withdrawing your own money. That is not something a legit broker will ever ask you for.
Is CFreserve legit or scam?
CFreserve is not a reliable broker as it has no license to provide its services and its withdrawing conditions show all the bad intentions behind the business. Unregulated brokers are not at all accountable for the way they will handle your money and in case of any dispute you will have to face a fight to get your money back from them. Hence, it is advisable to avoid trading with this scam broker as your money is not safe with them.