CF Merchants Review

Category: Reviews | Author: Trading Brokers | Date: December 28, 2023

CF Merchants, operational in the trading industry since 2011, has built a presence based on the provision of a diverse array of trading instruments, encompassing forex, indices, CFDs, and commodities. In this comprehensive review, our focus is to objectively explore the key features and services provided by CF Merchants. We will meticulously evaluate elements such as their regulatory framework, trading platforms, educational offerings, available markets, account types, and more. Additionally, we will present an even-handed assessment of the advantages and disadvantages associated with choosing CF Merchants as your trading partner. The ultimate aim is to furnish you with an impartial overview, aiding in your decision-making process as you contemplate whether CF Merchants aligns with your specific trading requirements. Let’s dive deeper into what CF Merchants has to offer

Pros & Cons

  • CF Merchants provides access to the popular MetaTrader 4 trading platform
  • The broker provides three types of trading accounts (ECN, Prime, and Pro) catering to different trading needs and strategies
  • The broker offers competitive spreads starting from 0.0 pips
  • CF Merchants supports a variety of deposit and withdrawal methods, offering flexibility to traders
  • CF Merchants offers a wide range of trading instruments including forex, indices, commodities, metals, and cryptocurrencies
  • CF Merchants is registered in St. Vincent and the Grenadines, a jurisdiction that does not regulate forex trading, raising concerns about the safety of funds
  • High Minimum Deposits for Certain Accounts
  • The broker does not offer the newer MetaTrader 5 platform

Summary

CF Merchants

CF Merchants

CF Merchants presents itself as a global forex and CFD broker that has been operating since 2011. The company offers trading access across a range of assets including forex, indices, commodities, metals, and cryptocurrencies. Traders can access markets through the popular MetaTrader 4 platform and leverage up to 1:1000. In terms of regulation, CF Merchants states it is registered in St. Vincent and the Grenadines under registration number 24535 IBC 2018.

However, it’s important to note that the regulator in St. Vincent and the Grenadines does not issue licenses or oversee forex brokers. This raises questions about the regulatory status and protections offered to traders. CF Merchants provides several account types. Minimum deposits range from $10 to $100 while maximum leverage goes up to 500:1. The accounts offer either raw spreads or variable spreads along with variations in commissions charged.

The broker supports a range of deposit and withdrawal methods. This provides clients with flexibility in funding their accounts and managing transactions. The company was created as a combined effort of financial professionals and experts in web commerce to perfect the online experience for retail traders. Despite being unregulated, CF Merchants has managed to carve out a niche for itself in the forex trading industry. However, it’s always important for traders to do their due diligence and understand the risks involved before choosing a broker.

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AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Regulation

CF Merchants is the trading name of Commodity and Forex Merchants Limited, a company registered in Saint Vincent and the Grenadines. While the company does have a license number (24535/2018) in Saint Vincent & the Grenadines, it’s crucial to understand that this doesn’t equate to financial regulation. The Financial Services Authority (FSA) in Saint Vincent and the Grenadines has clarified that it does not issue any licenses for forex trading or brokerage, nor does it regulate, monitor, supervise, or license international companies that engage in such activities.

This means that while CF Merchants may be a registered company, it is not regulated by any financial authority. This lack of regulation can pose significant risks to traders, as unregulated brokers may appropriate client funds arbitrarily. So, while CF Merchants presents itself as a regulated broker, the reality is a bit more complex. It’s always important to do your own research and understand what you’re getting into. If you’re looking for a broker with more robust regulation, please see a list of regulated brokers for some alternative options.

Platforms & Tools

MT4 Platform

MT4 Platform

CF Merchants offers MetaTrader 4 as it’s primary trading platform. MT4 is a globally recognized platform known for its advanced charting capabilities, wide range of technical indicators, and compatibility with automated trading systems known as Expert Advisors (EAs). The platform provides instant execution, allowing traders to execute trades with minimal delay. It also offers a high level of customization, enabling traders to adjust the platform’s interface, add or remove trading instruments, and create custom indicators. In Addition, CF Merchants also offers the following tools:

  • Expert Advisors (EAs): EAs are compatible with the MT4 platform and can be personalized to make trading decisions based on an individual’s investment strategies. EAs can be particularly beneficial for traders who prefer automated trading or those who want to implement specific trading strategies without having to constantly monitor the markets.
  • PAMM and MAM Accounts: CF Merchants offers Percentage Allocation Management Module (PAMM) and Multi-Account Manager (MAM) accounts. These account types allow money managers to manage multiple accounts from a single master account. Trades are executed in milliseconds and can be adjusted based on equity, balance, or lot size.
  • Copy Trading: CF Merchants also offers a copy trading service. This feature allows less experienced traders to copy the trades of successful traders, potentially accelerating their learning curve and increasing their chances of success in the markets.

Education

CF Merchants offers the following educational resources:

  • Forex Trading Academy: The Forex Trading Academy is a dedicated section on the CF Merchants website where traders can get in-depth knowledge about Forex trading. The academy covers a range of topics, starting from the basics of what Forex is, to understanding the trading platform, and then getting started with different phases of trading. This structured approach can be particularly helpful for beginners who are new to Forex trading.
  • Trading Platform Guide: CF Merchants provides a comprehensive guide on how to use the MetaTrader 4 platform. This guide can be a valuable resource for traders who are new to the platform or those who want to make the most of its features. The guide covers everything from downloading and installing the platform to executing trades and using the various tools and features.
  • Events and Updates: In addition to the educational content, CF Merchants also provides updates about events related to academic activities for Forex trading. These updates can help traders stay informed about the latest trends and developments in the Forex market. It’s a great way for traders to continue learning and improving their trading skills.
  • Downloadable Resources: CF Merchants offers downloadable resources as part of its educational offerings. These resources can be a handy reference for traders to revisit the concepts and strategies they’ve learned. It’s a great way to reinforce learning and ensure that the knowledge gained is retained and applied effectively in trading.

Markets

CF Merchants offers a diverse range of markets for traders to explore, providing opportunities to trade in various asset classes. Here’s a detailed look at each of the markets:

  • Forex: CF Merchants provides access to over 45 currency pairs, including major pairs like EUR/USD and GBP/USD, as well as more exotic pairs. This wide selection allows traders to choose the currency pairs that best align with their trading strategies and risk tolerance.
  • Stock Indices & Oil: Traders can also participate in trading global stock indices, which allows them to take a position on the overall performance of a country’s stock market. Additionally, CF Merchants offers trading in oil, providing opportunities to capitalize on fluctuations in the energy market.
  • Metals: CF Merchants enables trading in precious metals like gold and silver. These commodities can be a great way to diversify your trading portfolio and hedge against market volatility.
  • Bonds: Bonds are another market available for trading at CF Merchants. Bonds can be a more stable investment option compared to other asset classes, making them an attractive choice for risk-averse traders.
  • Cryptocurrencies: CF Merchants offers trading in popular cryptocurrencies like Bitcoin. This market has gained significant attention in recent years due to its rapid growth and potential for high returns.

Accounts

CF Merchants offers three types of trading accounts: ECN, Prime, and Pro. Each account type is designed to cater to different trading needs and strategies.

  • ECN Account: The ECN account is CF Merchants’ starting account, with a minimum deposit of $10. This account type offers raw spreads starting from 0 pips and charges a commission of $6 per lot. ECN accounts provide direct access to the interbank market, resulting in lower spreads and faster execution. This account type is suitable for experienced traders who prefer a commission-based pricing structure and want direct market access. The maximum leverage offered on this account is up to 500:1.
  • Prime Account: The Prime account requires a minimum deposit of $100. This account type offers variable spreads starting from 1.0 pips and does not charge any commission. The Prime account could be a good fit for intermediate traders who prefer a spread-only pricing structure and a lower minimum deposit. The maximum leverage offered on this account is up to 500:1.
  • Pro Account: The Pro account can be opened with a minimum deposit of $100. This account type offers variable spreads starting from 1.5 pips and does not charge any commission. The Pro account is designed for beginner traders who are just starting their trading journey and prefer a spread-only pricing structure with a lower minimum deposit. The maximum leverage offered on this account is up to 500:1.

In addition to these, CF Merchants also offers an Islamic account, also known as a Swap Free account. This account type is designed for traders who follow the Islamic faith and are not allowed to earn or pay interest due to Sharia law.

All account types are available in both live and demo versions. The demo account allows traders to practice trading with virtual money before they start trading with real money.

Funding

CF Merchants offers a variety of funding methods to make it easy for traders to deposit and withdraw funds from their trading accounts. The broker understands that flexibility in funding methods is crucial for a seamless trading experience.

  • Bank Transfer: Bank transfers are a traditional and reliable way to fund your trading account. While this method can take a few business days to process, it’s a good option if you’re not in a hurry and prefer to transfer funds directly from your bank account.
  • Credit Card: CF Merchants accepts funding via credit cards, which is a quick and convenient way to deposit funds into your trading account. However, it’s important to be aware of any fees your credit card issuer may charge for these transactions.
  • E-Wallets: CF Merchants also accepts deposits through popular e-wallets like Skrill and Neteller. These platforms offer a fast and secure way to transfer funds online, and they’re a great option if you prefer to keep your banking information separate from your trading activities.
  • Cryptocurrencies: In addition to traditional funding methods, CF Merchants also accepts deposits in Bitcoin, Ethereum, and Ripple. This is a great feature for crypto enthusiasts who want to use their digital assets for trading.
  • Perfect Money: Perfect Money is another online payment service accepted by CF Merchants. It’s a secure and flexible e-wallet that allows users to make instant payments and money transfers over the Internet.

Conclusion

In conclusion, CF Merchants is a forex broker that offers a range of features to its clients. From a user-friendly trading platform in the form of MetaTrader 4, to a variety of educational resources and trading tools, CF Merchants has a lot to offer. The broker also provides a selection of account types to cater to different trading needs and styles. However, it’s worth noting that while CF Merchants offers strong features, there are other brokers with longer track records that might be worth considering as alternative options. For additional choices, we encourage you to explore our trading brokers reviews. Happy trading!

CFMerchants Logo

$10

CF Merchants is an offshore broker established in March 2011 and registered in Saint Vincent and the Grenadines, offering a range of trading instruments including Forex, commodities, CFDs, indices, and cryptocurrencies. The broker provides three types of trading accounts: ECN, Prime, and Pro, with a minimum deposit starting at $10 for opening an account.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


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