The new CedarFX Forex broker is already in the proverbial class by itself. Since launching in 2020, it has quickly differentiated itself with a holistic approach to its clients and an unprecedented commitment to the ecosystem.
Saying No to Commissions, Yes to Trees
CedarFX offers its clients a pair of accounts: The 0% Commission Account and the CedarFX Eco Account.
As its name suggests, the 0% Commission Account does not charge commission fees. According to CedarFX, this strategy results in lower trading costs and enables traders to make the full use of their deposit funds for trading. Furthermore, fees are not charged on any transaction, with traders being able to access their funds at no cost.
The CedarFX Eco Account incorporates all of the features of the 0% Commission Account but only adds a $1 commission per lot traded to the account. However, for every $1 paid by clients, CedarFX will contribute another $1 to plant a total of 10 trees per lot traded – hence the Eco Account moniker.
CedarFX is partnered with the British environmental organization Ecologi in its mission to plant trees and reduce global carbon footprints. CedarFX also supports The Gold Standard, an organization focused on climate security and sustainable development.
Ecological conservation literally hits home for the CedarFX team: the company’s headquarters are in St. Vincent and Grenadines, which makes it cognizant of rising sea levels and the increased volatility of weather disturbances. To date, the partnership between CedarFX and Ecologi has resulted in 111,500 trees planted around the world.
A Wide Selection for Trading
CedarFX covers more than 170+ different tradable assets, including 55 fiat currencies, 35 cryptocurrencies plus stocks, indices, commodities and metals across the global markets. The company operates on the secure MetaTrader4 forex trading platform.
CedarFX also allows customers new to trading to enjoy unlimited demo accounts where they can experiment with virtual funds. As a result, both neophyte traders and longtime participants eager to test-drive the CedarFX platform can stay in the demonstration mode until they are fully satisfied with the system and their test strategies for trading. There is currently no limit on the number of demo or live trading accounts CedarFX customers are permitted to use at any given time.
CedarFX offers maximum leverage based on the instrument being traded: a 1:500 leverage for forex and metals, a 1:200 leverage for indices and commodities, a 1:100 leverage for all cryptocurrency pairs and 1:20 leverage for stocks.
A User-Friendly Approach
Accounts can be opened online for free and a minimum deposit of $10 is required to begin trading. New traders can create accounts with Facebook (NASDAQ: FB) or Google (NASDAQ: GOOGL) accounts. CedarFX offers 24/7 customer support through agents who are available via live online chat, email and telephone call back requests.
As mentioned earlier, CedarFX is headquartered in St. Vincent and the Grenadines and operates in compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, which ensures its adherence to national laws, European Union directives and Financial Action Task Force recommendations. As a young company, it strives to maintain both regulatory compliance and its reputation. And as the first eco broker, it is eager to ensure the survival of the planet and a future where climate change is only for the better.
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