Is CDG Global Scam or Legit Broker?
CDG Global is not a safe broker to invest in. The broker is located in Saint Vincent and the Grenadines with registration number 1726 LLC. CDG Global positions itself as a good and reliable broker with favorable offerings, however, it’s common knowledge that Saint Vincent and the Grenadines is an offshore zone and does not provide enough protections for the trades to be called safe and secure.
- SVG FSA enables low set up requirements without requiring any business planning, management interview, or check of the company background. Thus, the registered company does not follow any strict guidelines, a handbook, or hold other regulatory obligations. This means, that by signing with SVG FSA -regulated brokers, traders risk their investments. Read our article about why to avoid Saint Vincent and the Grenadines registered brokers.
About CDG Global
|🗺️ Registered in||Saint Vincent and the Grenadines|
|🗺️ Type of License||Offshore|
|🛡️ Is CDG Global safe to trade?||No|
|🗺️ Recommended Licenses||FCA in the UK 🇬🇧 and ASIC in Australia 🇦🇺|
|🖥 Alternative Broker||FP Markets - licensed by ASIC in Australia|
What is CDG Global?
CDG Global is a fast-growing broker focusing on B2B and institutional market segments. The company was founded by a team of FX industry veterans.
With CDG Global traders have an access to the most popular instruments; FX, Metals, Indices, Energies, Shares, Commodities, and Cryptos. The broker also enables STP/ECN technology. CDG Global offers a variety of trading accounts, including ECN and Islamic accounts.
- However, thorough research shows the other side of the coin. In fact, when it comes to the traders’ feedback, everything is not that bright. Traders report multiple issues regarding the safety of the broker, as well as issues with the withdrawal process.
- The broker’s website mentions low spreads and no additional commissions for a Standard account; however, the spread can be as high as 3 pips, which in itself is not a beneficial offering.
- CDG Global also mentions Negative balance protection on its website, however, offshore brokers do not commonly have negative balance protection, so this is perhaps one of the broker’s attempts to seem trustworthy and reliable.
- Trading environment, conditions, and safety are of utmost importance in Forex trading, and all of the mentioned are provided only by brokers that hold a license from the world’s leading authorities, such as ASIC, FCA, or CySEC.
- And at last, the broker does not provide any address on its website which is a good ground for suspecious. The only contact information it provides is a phone number with a Malaysian code. This might indicate that the broker is targeting traders from Malaysia.
Overall CDG Global Ranking
Taking into account our revelations on the safety of CDG Global, we do not rank positively CDG Global, based on our Expert Opinion with over 10 Years of experience in Forex Trading due to its lack of regulation and numerous negative reviews from traders.
- CDG Global Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.
|Ranking||CDG Global||HFM||Go Markets|
|Is Broker safe?||No||Yes||Yes|
|Advantages||None||Trading Environment||Trading Conditions|
CDG Global Alternative Brokers
Based on our revelations of CDG Global safety and regulations issues, here are much better Alternatives to CDG Global with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below:
- BlackBull Markets – Good for High Leverage Trading
- ThinkMarkets – Competitive Spreads
- IC Markets – Excellent cTrader Broker
Deposit & Withdrawal
With CDG Global traders have multiple options for funding their accounts, including bank transfers, credit cards, and e-wallets such as Alipay, Neteller, Skrill, Ngan Luong, Help2Pay, PayTrust88, and FasaPay.
The broker mentions on its website that some funding methods might be unavailable in certain regions, so it’s up to the traders to check the availability of a certain funding method.
- The minimum deposit for the Standard account is $50.
- CDG Global does not charge any fees for the first 3 withdrawals. However, starting from the 4th withdrawal request within the same month, there will be an additional fee charged.
- If there has not been trading activity on the account, the withdrawal will be charged 20 USD.
CDG Global Review Conclusion
We recommend avoiding offshore or unregulated brokers, as they do not provide a sufficient amount of protection. Trading with CDG Global might put your investments at risk. A significant amount of complaints from the side of traders only confirms our point.
We advise traders to invest only with brokers holding licenses from authorities alike UK’s FCA, Australian ASIC, or other similar regulators, that provide compensation and are strictly supervised. We advise signing in with reliable brokers such as XM, BlackBull Markets, and HFM.
• Overall ranking and experience for CDG Global is Negative