CFX Fund Review – Exposing Fake UK-Based Firms An Easy Task

Apparently, this trading brand is operated by CFX Fund Management Ltd, which is registered in the UK. Even at first glance, we can see there will be some irregularities since the company offers bonuses.

But that’s just the beginning of problems. To learn when to back out from any investment deal, you better read this CFD Fund review until the end.

Legal info: Is CFX Fund Legit or a Scam?

As a UK-based firm, this broker should primarily obtain a license from the FCA. Sadly, they didn’t, and they didn’t even consider any other top-tier license alternative. Such as BaFin, ASIC, or CFTC. 

Logically, a lack of regulations led to numerous traders being scammed, and of course, that resulted in multiple warnings, starting with Austrian FMA, Spanish CNMV, and Belgian FSMA.

Who are the CFX Fund’s Victims?

In less than a year, the company already destroyed its reputation. With a new domain, they tried to escape the bitter truth, but it didn’t work. Now, traders just have to prepare themselves if the company disappears, which is highly expected. Especially the ones coming from: 

• Belgium
• Canada
• Austria
• Ireland
• United States

If you are coming from any of these, contact us for a refund consultation as soon as possible. But also if you experience any issues with brokers like Forexland or Finkea.com.

Traders Reviews

If you didn’t realize this company is only scamming traders, check the CFX Fund reviews. Whether you look at Trustpilot or Reviews.io, the situation is the same. 

With an absolutely horrifying rating, it’s clear this broker is only there to rip off inexperienced traders. If you become their victim, reach out to our refund team immediately for assistance in recovering funds.

Leverage, Commissions, Spreads, Fees and Taxes

To avoid exposing themselves as a scam from the first minute, the CFX Fund broker decided to hide its leverage. But keep in mind all UK brokers can offer only 1:30 to retail traders. 

Another problem with this firm is hidden trading costs, such as spreads, commissions, and fees. Apparently, the company’s spreads start from 0 pips, but be sure that’s possible, potentially only for a few assets.

Bonuses

More problems with CFX Fund Forex company traders can expect if they accept any bonuses from the company. Ironically, the company can cancel all bonuses if they suspect any fraudulent activity on your account. Thus, they are the ones performing those scamming activities.

Bonus conditions limit traders from withdrawing any funds unless they meet certain trading conditions. In this case, to reach one standard lot ($100k) for every $1 bonus added.

CFX Fund Trading Features

Besides CFX Fund Trade Station, there’s nothing else that might attract traders to this broker. But to be fair, with all the issues with this broker, even that station is highly suspicious.

Trading Platforms Available

In the absence of a trusted trading platform, traders can only experience manipulation here. One of the key features the company presents us with is seamless switching between the web trader and mobile version. In any case, social trading, copy trading, or EA features are not part of the deal.

Available Trading Assets

Apparently, the company offers more than 200 assets from five different classes. Not even thousands of options can make them look legit or attractive. In any case, the options are: 

• Forex – USD/JPY, AUD/SGD
• CFDs – gold, FTSE100, Walt Disney
• Cryptos – BTC, BNB

Account Types

Of course, the company’s account types require more and more money but give zero relevant benefits in return. For instance, if you deposit $10k, you can get: 

• Personal account manager
• Trading platform introduction
• Risk management strategies and guidance
• Basic market education sessions

Not to mention, the company claims this is their minimum deposit requirement. However, we believe they will accept anything above $250 to get traders started. Anyway, other options are: 

• Silver – $25.000
• Gold – $50.000
• Premium – $100.000
• Platinum – $250.000
• VIP – $500.000
• VIP+ – $1M+

Mobile Trading App

If you were hoping for a trusted CFX Fund app, we have to disappoint you. The company doesn’t have any and is especially untrustworthy. For this reason, we strongly recommend you stick with top-tier licensed brokerages.

Demo Account

If you want to explore this company’s platform, you must prepare for harassment. The only option to get access to the platform is by registration. Even then, you won’t have a demo account option.

Education

Overall, the company doesn’t have any specific trading academy or educational program. However, their guidance from account managers can be considered some kind of education. Thus, it is a misleading one.

CFX Fund Withdrawal

Apparently, withdrawal requests are processed within 7 business days. That’s 7 times longer compared to any top-ranked broker. 

In any case, the company will charge traders a wide range of fees, the most important one being a hefty 5% withdrawal fee. In case you don’t pay those, your CFX Fund login credentials might get blocked.  

Customer Support

Considering numerous CFX Fund withdrawal issues that can happen, you will certainly need assistance from the company. According to them, their customer support replies within 1 hour and 24 hours during workdays. 

Contact options available are e-mail, phone line, and a live chat, which the company mentions. Thus, it’s nowhere to be seen.

Key Information To Consider About CFX Fund

Besides all the misleading details from the CFX Fund scam broker, the most essential fact is a lack of regulation. But also warnings from trusted regulators. With this in mind, problems are inevitable with any brokerage. Therefore, it’s quite important to know how to get your money out without their assistance.

For that purpose, our refund team offers a free first consultation where traders can learn about all the options. One of the most popular tools helping us today is CipherTrace for crypto transfer tracking. Since we are fully equipped and know what to do, don’t hesitate to reach out if you get scammed.

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