Home Best 15 Forex Brokers For Beginner And High-Leverage Traders in 2021 CedarFX Review 2022 – Pros & Cons Revealed
Michael Graw

Looking for a low-cost broker for stock, forex, and cryptocurrency trading? CedarFX is a new broker established in 2022 that offers zero-commission CFD trading on over 170 different assets. The platform is incredibly cost-effective, offers powerful trading tools like MetaTrader 4, and gives you access to higher leverage than most of its competitors.

So, is CedarFX the best broker for you? In our CedarFX review, we’ll take a look at this broker’s assets, features, pros, cons, and more.

What is CedarFX?

CedarFX is a new online CFD broker established in 2022. The brokerage is owned by Cedar LLC and based in St. Vincent and the Grenadines.

CedarFX stands out for offering a wide range of tradable assets. You can trade CFDs for dozens of forex pairs, US stocks, cryptocurrencies, indices, and commodities. On top of that, trading with CedarFX is 100% commission-free and the broker offers below-average spreads across its asset classes.


Another neat thing about CedarFX is that the broker has sustainability as part of its mission. You can opt for an Eco account, which charges a $1 commission per trade, and all of the money from your commissions goes to planting trees around the world. Better yet, CedarFX matches all contributions made from Eco account commissions.

CedarFX is not regulated, which is important to note because it brings some important safety concerns. However, the lack of regulation also allows CedarFX to do things that most competitors cannot. For example, the broker offers extremely high leverage of up to 500:1 for forex trading and up to 20:1 for stock trading, even for non-professional traders. In addition, the broker uses Bitcoin for all deposits and withdrawals, allowing most payments to complete within minutes.CedarFX Features

Pros and Cons of using CedarFX


  • Over 170+ assets to trade as CFDs
  • 100% commission-free trading account
  • Eco account available with matching contribution
  • Uses MetaTrader 4 trading platform
  • Exceptionally high leverage available
  • Payments completed within minutes
  • 24/7 customer support


  • Not regulated by any financial authority
  • Bitcoin payments incur transaction fees
  • No research, analysis, or education tools

Getting Started on CedarFX

Opening an account with CedarFX is simple. Just select ‘Open Live Account’ from the broker’s homepage, and you can instantly set up your new account. You also have the option to sign into your account using Google or Facebook. Notably, CedarFX doesn’t require you to verify your identity or provide photo ID as part of the sign-up process.Sign Up for a CedarFX Account

CedarFX only accepts Bitcoin as payment to fund your account. However, the platform partners with a third-party Bitcoin exchange, so you can also pay with a credit or debit card and have your funds converted to Bitcoin instantly.

Since CedarFX uses MetaTrader 4 as its trading platform, you can get started right away with the web trading platform or download the desktop or mobile platforms. You can also open a demo account in order to safely practice trading.

Tradable Assets on CedarFX

CedarFX offers CFDs for over 170 assets across 5 different asset classes:


CedarFX offers trading on 64 popular US stocks from a variety of market sectors. While the selection isn’t enormous, one of the great things about CedarFX is that it offers more margin than most other stock brokers. All stocks can be traded with leverage up to 20:1.CedarFX Stocks


This forex broker offers 55 different forex pairs, including a wide range of exotics. Major forex pairs can be traded with leverage up to 500:1 (compared to just 30:1 at most competing brokers) and minor forex pairs can be traded with leverage up to 100:1.CedarFX Forex Pairs


CedarFX has CFDs for 35 different cryptocurrencies, including popular coins like Bitcoin, Ethereum, Litecoin, and Ripple. Most cryptocurrencies are traded in pairs against the US dollar, although some can also be traded in pairs against Bitcoin. Leverage is available up to 100:1.CedarFX Cryptocurrencies


If you want exposure to global stock markets, CedarFX has a selection of 11 different stock indices for trading. These indices cover the US, UK, Europe, and Hong Kong, and can be traded with leverage up to 200:1.CedarFX Indices


CedarFX offers gold trading, silver trading, and platinum trading, plus CFDs for natural gas and WTI and Brent crude oil. Gold can be traded against either the US dollar or the Euro and with leverage up to 500:1. Oil trading and gas trading can use leverage up to 200:1.

Types of Accounts on CedarFX

CedarFX offers two types of accounts: a standard 0% Commission account and an Eco account.CedarFX Account Types

These two accounts are identical in all respects except for the commission. As the name implies, the 0% Commission account is completely commission-free.

The Eco account, on the other hand, charges a commission of $1 per trade. This commission is donated in full to Ecologi, a UK-based sustainability firm that uses the funds to plant trees and offset carbon emissions. The advantage of using an Eco account rather than donating money directly is that CedarFX will match your contributions, essentially doubling the number of trees that can be planted. To date, the Eco account from CedarFX has resulted in 138 trees being planted.CedarFX Eco account

Neither account carries any monthly or annual fees or inactivity fees.

Features of CedarFX

As a low-cost broker, CedarFX doesn’t have a huge range of features. That said, it does have a few key elements that help this new firm stand out in a crowded market.

Trading Platforms

One of the best things about CedarFX is that the broker uses MetaTrader 4 as its sole trading platform. Instead of routing you through a proprietary trading platform – which at many brokers is less flexible than MetaTrader 4 – CedarFX recognized that this platform is beloved by traders for a good reason.

With MetaTrader 4, you have complete control over your trading dashboard. You can pull up multiple charts at once to view several assets or different timescales. You can also access dozens of built-in technical studies and drawing tools to analyze the market. If MetaTrader 4 doesn’t offer an indicator you need, you can leverage the built-in scripting language to write the indicator yourself or turn to the MetaTrader community marketplace to find premade indicators from other traders.MetaTrader 4 CedarFX

Another important reason that we like MetaTrader 4 is that the platform enables you to use forex signals and forex robots. You can partially or fully automate your trading, and the platform offers a comprehensive backtesting tool to ensure that your strategy is successful in historical trading sessions.

MetaTrader 4 is available for web, desktop, and mobile (iOS and Android). The mobile trading app has most of the same charting features as the desktop platform, so you can analyse the market and trade from anywhere with CedarFX.

Research and Analysis

One thing that we found somewhat disappointing about CedarFX is that the brokerage doesn’t offer any additional tools for research and analysis. You won’t find a market news feed, an economic calendar, or even a blog discussing overarching market trends. While there are plenty of other resources to turn to for analysis, it would be nice if CedarFX had some basic tools to point traders towards.

Demo Account

CedarFX allows you to establish a paper trading account at absolutely no cost. The demo account comes with access to MetaTrader 4, so you can practice using the platform and try out different trading strategies before committing real money.


Leverage is one of the major highlights for CedarFX. Most brokers are limited in how much leverage they can offer by the European Securities and Markets Authority. But since CedarFX is not regulated by major financial authorities, it can offer high degrees of leverage to non-professional traders.

CedarFX offers the following maximum leverage for its assets:

Asset Type Maximum Leverage
Major Forex Pairs 500:1
Minor Forex Pairs 100:1
Cryptocurrencies 100:1
Stocks 20:1
Indices 200:1
Metals 500:1
Natural Gas & Oil 200:1

CedarFX Fees

With a standard trading account at CedarFX, all trades at this broker are 100% commission-free. If you choose an Eco account, you’ll be charged a commission of $1 per trade. This money goes directly towards tree planting, not to CedarFX.

Regardless of which account type you choose, CedarFX doesn’t charge any account fees, inactivity fees, or deposit or withdrawal fees. Instead, the broker makes money primarily through spreads. The good news is that CedarFX’s spreads, while variable, are generally well below the market average.

For example, the popular EUR/USD and USD/JPY forex trading pairs carry spreads of 0.8 pips each. For comparison, a spread of 1 pip for these currency pairs is typically considered inexpensive. Spreads for stock trading vary based on the specific shares you are trading, but expect to pay around 2-3 pips per trade.CedarFX Spreads

Deposits, Withdrawals and Supported Payment Methods

CedarFX conducts all deposits and withdrawals by Bitcoin. While this can be frustrating for traders who don’t typically use Bitcoin, there are advantages to using digital currency to fund your brokerage account.

Bitcoin deposits appear in your account within minutes in most cases, allowing you to start trading right away. When withdrawing funds as Bitcoin, you can get your money within minutes. In fact, CedarFX notes that nearly all withdrawals are completed within 24 hours.

Helpfully, CedarFX does allow you to pay using a debit or credit card when depositing funds into your account. The platform partners with a third-party cryptocurrency exchange that accepts card payments, so your funds are converted to Bitcoin and transferred to your CedarFX account in a single transaction.

One thing to keep in mind is that Bitcoin transactions are not entirely free. The Bitcoin Network charges a fee of 0.005 BTC (around $9) for all payments, which includes deposits to and withdrawals from CedarFX.

Is CedarFX Regulated?

CedarFX is not regulated by any major financial agency. While the broker follows all rules in St. Vincent and the Grenadines, where the parent company, Cedar LLC, is based, this country is not known for having strict financial regulations.

CedarFX was just established in 2022, so it’s hard to know if this brokerage is worthy of your trust. The platform doesn’t release any financial information and it does not state that it keeps its own funds and clients’ funds strictly separated (as most regulated brokers do).

In the event that CedarFX were to go out of business, you should not expect to receive back any funds or positions that you have deposited at the broker.

Customer Support at CedarFX

CedarFX offers 24/7 support by phone, email, and live chat. We found them to be very responsive, with phone callbacks and emails coming within 24 hours of our requests. The broker also has a basic FAQs page, although it doesn’t go into a lot of detail about CedarFX or account troubleshooting.

CedarFX Review – The Verdict

CedarFX offers low-cost, high-leverage trading on a wide variety of assets. This broker stands out for giving traders up to 500:1 leverage for major forex pairs, 200:1 leverage for commodities and indices, and 20:1 leverage for stocks. On top of that, the zero-commission trading model, zero account fees, and low spreads are highly attractive.

CedarFX doesn’t have a lot of other bells and whistles. The platform uses the widely loved MetaTrader 4 trading platform, which is excellent news for traders. But there are no additional research and analysis tools or even a market news feed.

Another thing to note is that CedarFX is not regulated and only accepts Bitcoin for payment. While there is no reason to distrust CedarFX, the broker is only a few months old and there are no guarantees that you will get your money back if it runs into financial trouble.

Overall, we think CedarFX is a great broker if you’re willing to take a chance on a relatively untested company. Given the lack of investor protection, you may want to use caution in how much you deposit with CedarFX. But the broker’s high leverage limits mean this often isn’t a problem, and you’ll be hard-pressed to find a lower-cost trading platform.

Ready to trade with CedarFX? Click the link below to sign up for a CedarFX account today!

CedarFX: Trade Stocks & Forex with 0% Commission

Our Rating

  • 0% commission trading
  • Over 170 assets
  • Up to 1:500 leverage
  • Supports MT4
Your capital is at risk.


How do I get Bitcoin to fund my CedarFX account?

Does CedarFX offer a no-deposit sign-up bonus?

Does CedarFX have any educational resources?

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Michael Graw

Michael Graw

Michael is a writer covering finance, new markets, and business services in the US and UK. His work has been published in leading online outlets and magazines.