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CedarFX Review

CedarFX is a new online CFD broker established in 2021. The brokerage is owned by Cedar LLC and based in St. Vincent and the Grenadines.
CedarFX stands out for offering a wide range of tradable assets. You can trade CFDs for dozens of forex pairs, US stocks, cryptocurrencies, indices, and commodities. On top of that, trading with CedarFX is 100% commission-free and the broker offers below-average spreads across its asset classes.

Trading platform and conditions

One of the best things about CedarFX is that the broker uses MetaTrader 4 as its sole trading platform. Instead of routing you through a proprietary trading platform – which at many brokers is less flexible than MetaTrader 4 – CedarFX recognized that this platform is beloved by traders for a good reason.
With MetaTrader 4, you have complete control over your trading dashboard. You can pull up multiple charts at once to view several assets or different timescales. You can also access dozens of built-in technical studies and drawing tools to analyze the market. If MetaTrader 4 doesn’t offer an indicator you need, you can leverage the built-in scripting language to write the indicator yourself or turn to the MetaTrader community marketplace to find premade indicators from other traders.
Another important reason that we like MetaTrader 4 is that the platform enables you to use forex signals and forex robots. You can partially or fully automate your trading, and the platform offers a comprehensive backtesting tool to ensure that your strategy is successful in historical trading sessions.
MetaTrader 4 is available for web, desktop, and mobile (iOS and Android). The mobile trading app has most of the same charting features as the desktop platform, so you can analyse the market and trade from anywhere with CedarFX.

CedarFX conducts all deposits and withdrawals by Bitcoin. While this can be frustrating for traders who don’t typically use Bitcoin, there are advantages to using digital currency to fund your brokerage account.

Bitcoin deposits appear in your account within minutes in most cases, allowing you to start trading right away. When withdrawing funds as Bitcoin, you can get your money within minutes. In fact, CedarFX notes that nearly all withdrawals are completed within 24 hours.
Helpfully, CedarFX does allow you to pay using a debit or credit card when depositing funds into your account. The platform partners with a third-party cryptocurrency exchange that accepts card payments, so your funds are converted to Bitcoin and transferred to your CedarFX account in a single transaction.
One thing to keep in mind is that Bitcoin transactions are not entirely free. The Bitcoin Network charges a fee of 0.005 BTC (around $9) for all payments, which includes deposits to and withdrawals from CedarFX.

Education and Analysis

CedarFX currently does not have an educational section although the customer support team can help answer client queries and there is an FAQ section that covers some questions. It would be great if they add some educational materials in the future such as trading guides, e-books, tutorial videos, market analysis, etc.
Official website review
The official website looks modern and updated. There are necessary features a trader needs. You can get any section in a couple of clicks.


Traders’ opinions on this broker are mixed. Some find the services excellent, but the others show some proof of losing money with the company. They do not admit this is a scam but alert the others to be cautious.

Pros and cons

• User-friendly MT4 platforms
• 183+ trading instruments
• 24/7 customer support
• Zero commission account
• Eco-friendly broker
• Bitcoin withdrawals only
• No swap-free accounts
• Limited edcuational materials


CedarFX offers low-cost, high-leverage trading on a wide variety of assets. This broker stands out for giving traders up to 500:1 leverage for major forex pairs, 200:1 leverage for commodities and indices, and 20:1 leverage for stocks. On top of that, the zero-commission trading model, zero account fees, and low spreads are highly attractive.
CedarFX doesn’t have a lot of other bells and whistles. The platform uses the widely loved MetaTrader 4 trading platform, which is excellent news for traders. But there are no additional research and analysis tools or even a market news feed.

Another thing to note is that CedarFX is not regulated and only accepts Bitcoin for payment. While there is no reason to distrust CedarFX, the broker is only a few months old and there are no guarantees that you will get your money back if it runs into financial trouble.
Overall, we think CedarFX is a great broker if you’re willing to take a chance on a relatively untested company. Given the lack of investor protection, you may want to use caution in how much you deposit with CedarFX. But the broker’s high leverage limits mean this often isn’t a problem, and you’ll be hard-pressed to find a lower-cost trading platform.


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