Home Latest Cryptocurrency News Cedar FX Review 2021

Cedar FX Review 2021

By Chris Roper - min read
09 December 2020

Cedar FX is an independent brokerage platform that provides access to over 170 tradable assets, including popular cryptocurrencies through global financial markets. Unlike the policies of other leading brokerages, there is no limit to how many demo or live trading accounts Cedar FX customers are permitted to use at any given time.

With a 0% Commission Account that charges no fees on transactions, users can trade securely on the popular MT4 platform with a dedicated support team on hand 24/7.

Getting Started with Cedar FX

Register

Registering a free account is free, fast and incredibly easy. New users need to provide their full name, email address, and select a strong password. Alternatively, there is an option for users to sign up with a single click using their active Google or Facebook account. You will also be required to click the link sent to you to verify your email and add a telephone number for KYC purposes.

Make a Deposit

At this stage, you are already halfway through setting up your new trading account. You can now access the demo mode. If you would rather move straight to live trading, you have several secure payment options available for you to fund your new account. Aside from a bank transfer, Cedar FX also accepts deposits using the leading cryptocurrency, Bitcoin.

Start Trading

Once your account has been funded, you are almost ready to begin trading. Users are required to download the popular and secure MT4 trading platform, which is available for Windows, Mac, Android and IOS. If you chose to fund your account through a wire transfer of fiat currency, you might have to take a little time to verify that the bank account belongs to you.

Cedar FX at a Glance | Interface and User Experience

The interface available at Cedar FX is reassuringly simple for beginners yet includes all of the comprehensive tools to entice the most seasoned traders. All trading is done through the MT4 platform which can be downloaded for free from the Cedar FX website.

Unlike other, less professional services, new customers are not hounded by support agents when they first sign up, although dedicated customer service is available if required. There is a genuine feeling of transparency when trading through Cedar FX. The platform is without gimmickry or unnecessary clutter. From the moment users open an account, a sense of calm confidence is assured through the simple and effective design of the GUI.

Key Features of Cedar FX

There are a few features of Cedar FX that, in our opinion, sets this broker apart from their competitors. Here, we will take a closer look at these aspects of the platform.

Unlimited Demo Account

A rare and unexpected bonus when it comes to online brokers. While it is true that there are countless platforms that offer a certain amount of virtual funds for new traders to practice with, traders are usually required to begin live trading as soon as these funds have been depleted, or a set period of time has elapsed.

Cedar FX is so confident in the service it provides; the platform has made all demo accounts limitless in both virtual funds and time. Frankly, this is an incredible feature. It means that new users can remain in demo mode until they are completely satisfied that they have learnt all aspects of investment trading. It is also handy for seasoned investors, who can use this facility to test the effectiveness of newly formed trading strategies in a riskless environment.

0% Commission Account

The standard account made available to all users at Cedar FX is a 0% Commission Account. Here, the broker has eliminated all commission fees so that users can make the most of their trading experience. This philosophy extends to spreads, which are maintained at extremely low cost on more than 170 tradable assets.

Whether users choose to fund their account with Bitcoin or through fiat currency, there are absolutely no transaction fees, which also applies to withdrawals. Cryptocurrency withdrawals are reflected in a user’s wallet on the same day the request has been made.

Ecological Awareness

Here, Cedar FX lives up to its brand. The platform takes the responsibility that we all share in protecting our planet very seriously. For users who would wish to do their part and join Cedar FX in their mission to make real positive change, the Eco account is made available.

By donating just $1 for every lot traded, Cedar FX will match the amount collected each month and send 100% of the proceeds to Ecologi; a non-profit group dedicated to planting new trees and reducing our carbon footprint through various initiatives across the globe.

A scheme such as the Eco Account is a prime example of how digital online business can have a positive impact on real-world applications.

Customer Service

Cedar FX provides its customers with a dedicated team of customer support agents 24/7. Users are encouraged to reach out at any time of day through various methods, which include;

Live Chat
Email
Call Back Request

Explore the Supported Cryptocurrencies

Aside from Stocks, Commodities, Indices, Forex and Exotic FX, there are several enticing options available for cryptocurrency enthusiasts. As 2020 took a toll on most markets due to the global COVID pandemic, many of these digital assets showed the most resilience, with some even experiencing some incredible growth.

Some of the cryptocurrencies available on Cedar FX are listed below:

Bitcoin
Bitcoin Cash
Ethereum
Ethereum Classic
IOTA
EOS
Zcash
BitUSD
Monero
Ripple
Dash
Tron
Litecoin

Final Thoughts | Our Cedar FX Conclusion

Cedar FX is a refreshing addition to the world of online brokers. It grants access to users across more than 200 countries worldwide, offering an extensive array of tradable assets, and has some of the most exciting cryptocurrencies available.

The platform does not hound customers, but instead, allows a user to find their feet in their own time through limitless demo trading, dedicated 24/7 customer support and a simple, easy to use dashboard.

The 0% Commission Account is also an attractive consideration; however, we felt compelled to enter into the Eco Account in order to give a little back and have our donations doubled by Cedar FX themselves.

We feel confident that anyone looking for a transparent, simple, and secure trading environment will be well suited to Cedar FX.