CFD Trade Review – What Do We Know About This Forex Broker?

As of May 2023, the broker (CFDTrade.eu) has ceased operations. But you can read the article to avoid falling for similar scammers.

CFD Trade is a Forex or Crypto Trading Scam?

CFD Trade is a registered trademark of Netming Limited. Fair enough, such a company exists at the London address. It was registered at Companies House on 22 May 2020. However, it is a business that specializes in information technology and consultancy.

The firm also covers financial intermediation that is not classified elsewhere. We did not find any CFD Trade regulations with the UK authorities.

The Financial Certification Organization, a Belgian authority, claims that the firm is fully licensed. Recall that the Financial Services and Markets Authority, (FSMA) is a Belgian Forex and CFD trading regulator. The license we were given is therefore false.

CFD Trade no longer seems legitimate now that we have discovered the truth. The company does not follow FCA, FSMA or ESMA rules regarding broker transparency. They don’t have valid regulations, and they entice traders into depositing based upon false pretenses.

Let us know if you have any questions about their operation.

CFD Trade claims it is based in London (UK) and is regulated by a Belgian financial authority. This is false and CFD Trade solicits investors unauthorized.

CFD Broker Presumed to Be Regulated

CFD Trade claims that it holds a license from FinCertus (a Belgian financial regulator). This organization does not have responsibility for CFD markets in Belgium, or in any other country. Their site is actually in existence since 2022, but Belgium has had a financial marketplace for a much longer time.

Most brokers ignore FSMA supervision because it doesn’t allow leveraged trades and places many limits on CFDs. CFD Trade does not have a credible license and you can’t file a complaint against them or be reimbursed by the government if they scam you.

Are CFD Trade Scam Victims Living in Canada?

Let’s take a look at CFD Trade Scam victims and where they came from.

• Cyprus
• Italy
• Greece
• Germany
• Albania

With the exception of Albania, most of these countries are EU. To provide financial services, all of these countries require a license from the regulator. CFD Trade does not have a permit.

SimilarWeb reports that Cfdtrade.eu received almost 68,000 visits in December 2022. This is a significant increase from the 5,000 visitors in November. Their marketing department is busy and social media is saturated with the supposedly trustworthy broker.

At the time of writing, there are only two Trustpilot reviews for this account. Both ratings are 1-star. Investors would be more inclined to review a company if it was legitimate and successful.

What trading platforms are available?

We are astonished at the CFD Trade trading platform. No.

The company provides a proprietary WebTrader that can be used on both desktop and mobile devices. It is a TradingView chart that displays several indicators, pending orders and trading history. We did not find any special features, EAs or social trading.

Third-party apps like MT4, MT5 or cTrader cannot be compared with the software. CFD Trade does not offer any of these apps. Instead, you’ll have to take on the risk of a self-made app which can be easily manipulated.

Scam brokers will often alter market prices or offer unwelcome bonuses to stop you withdrawing winnings.

Mobile traders

The firm offers mobile apps as well as a desktop app. Links to Android and iOS software can be found on the main website.

These are also susceptible to manipulation due to the fact broker engineers create them.

What trading assets does CFD trade offer?

The following tradable assets are listed by the company:

• Forex (Currency pairs), such as EUR/USD and AUD/NOK, are available.
• Cryptos ( Currency ), such as BTC and LTC
• Commodities Gold, Corn and Soybeans
• Indices – AU 200, NIKKEI 225, FTSE 100
• Shares Intel, Microsoft, Meta

In the currency pairs category, only two crypto coins are included. We don’t know if any other assets are available when the funds are deposited.

If the firm was actually based in the UK, it would have to comply with the FCA ban starting in 2021. It states that trading brokers can’t offer crypto CFDs because of their volatility. CFD Trade is a scam site.

Comparing Trading Accounts – What is the Difference?

Let’s take an in-depth look at CFD trade account types to see what we know so far and what is still missing.

1. Bronze – 250 EUR
2. Silver- 10,000 EUR
3. Gold- 50,000 EUR
4. Platinum- 100,000 EUR

Although the brokerage claims that MT4 is included in all accounts, we have proven its falsehood. They use MetaTrader to promote themselves, and they trick retail traders like you into falling for a scam. Do not fall for it.

What is a chargeback?

Chargebacks are a way for your bank to reclaim funds from the merchant. We recommend that you contact us immediately to initiate the process. In a free consultation, we will discuss how to get your money back immediately!

CFD Trade: Video

Below you will find a short video about CFD Trade. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about CFD Trade!