Is CF Merchants Scam or Legit Broker?

No, it is not safe to trade with CF Merchants. The company is owned and operated by CF Merchants Limited, which is an offshore company registered in St. Vincent and the Grenadine.

  • St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost being low it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as CapitalXP, TraderUR, and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.

About CF Merchants
🗺️ Registered inSt. Vincent and the Grenadines
🗺️ Type of LicenseOffshore License
🛡️ Is CF Merchants safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerIC Markets - licensed by ASIC in Australia

What is CF Merchants?

CF Merchants provides exchanging services for more than 50 currency pairs as well as indices, CFDs, gold, silver, oil and other commodities. According to the website, the organization was established in March 2011 and Company is incorporated in St. Vincent & the Grenadines as an International Trading company with the registration number 24535 IBC 2018.

  • However, the Financial Services Authority (FSA) of St. Vincent and the Grenadines has announced that it does not issue any licenses for forex trading or brokerage nor does it regulate, monitor, supervise or license international companies, which engage in such activities. It means that CF Merchants or any other Forex broker that claims to be registered in Saint Vincent and the Grenadines is not allowed to provide its financial services to the public.

CFMerchants

Overall CF Merchants Ranking 

We found multiple regulation and safety issues with CF Merchants, thus we do not rank positively CF Merchants, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

  • CF Merchants Overall Ranking is 2 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.
RankingCF MerchantsXMXTB
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
Is Broker safe? NoYesYes
AdvantagesNoneTrading InstrumentsTrading Conditions

CF Merchants Alternative Brokers

We revealed that CF Merchants has a lot of issues, especially in respect of its safety and customer care. Thus, here are much better Alternatives to CF Merchants with tight regulations and favorable trading conditions. We select Good Brokers and reliable options for your comparison below: 

Deposit & Withdrawal

At CF Merchants, making deposits and withdrawals is simple and quick. The broker offers multiple funding options, including Bank wire transfers, Visa and Mastercard payment cards, plus Skrill, Perfect Money, Neteller, tether, etc. 

  • For all deposit/withdrawal through bank wire, there is limit on minimum transfer amount without charges. For withdrawal of less than $100, $20 per transaction will be charged as processing fee.
  • Any third party payments (deposit/withdrawals) are not be accepted.
  • All withdrawals will be processed the same as the client adopted payment system. Bank wire to bank wire, Skrill to Skrill, Neteller to Neteller, Perfect Money to Perfect Money, and credit card to credit card.

CF Merchants Review Conclusion

We advise all investors and traders to avoid CF Merchants  and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as IG Markets and BlackBull Markets.

  • Overall ranking and experience for CF Merchants is Negative

No news available.

Leave a Reply

Your email address will not be published.

* code