Is CobraCFD Scam or Legit Broker?

No, it is not safe to trade with CobraCFD, as it is an offshore company. Cobracfd is owned and operated by Cobracfd Ltd and Kings Power Ltd. registered in Trust Company Complex, the Marshall Islands.

  • The Marshall Islands 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 MegaTradeFX, Swissinv24, and more.

About CobraCFD
🗺️ Registered inMarshall Islands
🗺️ Type of LicenseOffshore License
🛡️ Is CobraCFD safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is CobraCFD?

CobraCFD claims to deliver options for trading in some of the most popular liquid assets, including currency pairs, stocks, most major financial indices, and commodities. CobraCFD operates around the globe and places great emphasis on providing professional and reliable services to all its customers. They offer several trading platforms that have been designed to meet the needs of investors from beginners to advanced. However, we have some concerns about the reliability of this broker (Best Forex Brokers for Beginners). 

  • According to the website, Cobracfd operates in accordance with international financial and money laundering laws. However, they do not provide any specific information about the regulation and it doesn’t seem CobraCFD is regulated by any authority. The broker provides British contact number without having an actual office there or being regulated in the United Kingdom.
  • Moreover, CobraCFD has been blacklisted by the Italian regulator CONSOB:

“CONSOB  availed itself of the powers deriving from the "growth decree" regarding the blackout of the sites (including CobraCFD Ltd (website of abusive financial intermediaries, as well as the new power introduced by Law no. 8 of 28 February 2020, regarding the blackout of the site through which the abusive bid is made.”

CobraCFD - official website

CobraCFD Review Conclusion

We strongly advise all investors and traders to avoid CobraCFD and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as City Index and eToro.

CobraCFD Update

Recently the CobraCFD website remains inactive, meaning the broker mutes its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case they receive trading proposals. 

No news available.

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