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CangFX

China|2-5 years|
White label MT5|Chinese market only|Suspicious Overrun|High potential risk|

https://cangfxca.com/en/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

1
Server Name
CangLimited-Server MT5
Server Location Hong Kong

Contact

https://cangfxca.com/en/

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Broker Information

More

Company Name

CangFX Global Limited

Company Abbreviation

CangFX

Platform registered country and region

China

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 2
Previous Detection : 2024-04-25
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The United StatesNFA regulation (license number: 0549716) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

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CangFX · Company Summary

Note: CangFXs official site - cangfxca.com is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

CangFX Review Summary in 10 Points
Founded 1-2 years
Registered Country/Region China
Regulation NFA (Suspicious clone)
Market Instruments N/A
Demo Account N/A
Leverage N/A
EUR/USD Spread N/A
Trading Platforms MT5
Minimum Deposit N/A
Customer Support N/A

What is CangFX?

CangFX is an offshore forex broker. The company's website is currently unavailable. CangFX is not regulated by any legitimate financial authority, and there are no contact ways available online. These are all red flags that indicate that CangFX is a scam.

Pros & Cons

Pros & Cons

Pros Cons
• MT5 supported • NFA license is a suspicious clone
• Unavailable website
• Lack of transparency
• Limited industry experience

Overall, CangFX has some pros, such as offering the MT5 trading platform. However, the cons far outweigh the pros, such as the fact that it is not regulated by any legitimate financial authority and their website is currently unavailable.

CangFX Alternative Brokers

There are many alternative brokers to CangFX depending on the specific needs and preferences of the trader. Some popular options include:

  • FXOpen: A well-regulated broker with a wide range of trading products and services.

  • Markets.com: A popular broker with a user-friendly platform and competitive spreads.

  • Valutrades: A reliable broker with a focus on education and customer support.

Feature FXOpen Markets.com Valutrades
Regulation CySEC FCA
Trading products Forex, CFDs, stocks, indices, commodities
Spreads From 0.1 pips From 0.7 pips From 1.0 pips
Leverage Up to 1:500
Trading platforms MetaTrader 4, MetaTrader 5
Education and resources Extensive educational resources, live webinars
Customer support 24/7 customer support, multiple languages

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is CangFX Safe or Scam?

CangFX is a suspected scam. It is not regulated by any legitimate financial authority, and its website is currently unavailable. The National Futures Association (NFA, No. 0549716) license number that it claims to have is a suspicious clone. Therefore, it is highly likely that CangFX is a fraudulent operation that should be avoided. If you are considering trading with CangFX, I strongly advise against it. There is a high risk that you will lose your money if you do.

NFA license

Here are some tips for avoiding scams:

  • Only trade with brokers that are regulated by a legitimate financial authority.

  • Do your research before opening an account with any broker.

  • Read customer reviews and testimonials before making a deposit.

  • Be wary of brokers that use generic templates or offer unrealistic returns.

Trading Platform

CangFX offers the MetaTrader 5 (MT5) trading platform. MT5 is a popular platform that is used by millions of traders around the world. It is a powerful platform that offers a wide range of features, including:

  • Advanced charting capabilities

  • Sophisticated order management tools

  • New features, such as algorithmic trading and copy trading

  • Support for multiple asset classes, including forex, stocks, commodities, and indices

The MT5 platform is available on desktop, web, and mobile devices. It is a user-friendly platform that is easy to learn and use.

However, it is important to note that CangFX is not a regulated broker. This means that there is no guarantee that your funds will be safe if you trade with them. Therefore, I would advise against trading with CangFX.

See the trading platform comparison table below:

Broker Trading Platform
CangFX MetaTrader 5
FXOpen MetaTrader 4, MetaTrader 5
Markets.com
Valutrades

As you can see, all four brokers offer the MetaTrader 4 and MetaTrader 5 trading platforms. These are the most popular trading platforms in the world, and they offer a wide range of features and tools for traders.

However, CangFX is not regulated by any legitimate financial authority, so it is not a safe broker to trade with.

Ultimately, the best trading platform for you will depend on your individual needs and preferences. If you are looking for a platform with a wide range of features and tools, then MetaTrader 4 or MetaTrader 5 is a good option.

Customer Service

CangFX doesn't provide any information about its customer support channels, it suggests a lack of transparency on their part. The absence of accessible customer support channels can be seen as a potential drawback, as it may limit the ability of customers to seek assistance or resolve issues promptly. It is always advisable to consider a company's commitment to customer support and accessibility when choosing a service provider.

Conclusion

In conclusion, CangFX is an offshore forex broker that should be avoided. It is not regulated by any legitimate financial authority, and there are no contact ways available. I would not recommend trading with CangFX.

Frequently Asked Questions (FAQs)

Q 1: Is CangFX regulated?
A 1: No. Their National Futures Association (NFA, No. 0549716) license is a suspicious clone.
Q 2: Does CangFX offer the industry leading MT4 & MT5?
A 2: Yes. It supports MT5.
Q 3: Is CangFX a good broker for beginners?
A 3: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website and lack of transparency.

User Reviews

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Comments

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FX1554140702
more than one year
The claim of an NFA license is suspicious, and upon further investigation, it seems to be a clone. The lack of regulatory oversight, unavailable website, and limited industry experience raise concerns about the legitimacy of CangFX. I would recommend considering alternative brokers with proper regulation and transparency.
2023-12-08 10:39
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FX1530693592
more than one year
My attempt to explore their services was met with red flags from the start. The website is currently unavailable, making it impossible to gather essential information.
2023-12-07 19:29
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Momooo
more than one year
So disappointing. The MT5 platform, while functional, often experienced technical glitches and freezing, causing frustration and potential losses. Withdrawals have been a nightmare, with lengthy delays. The unavailability of the website for extended periods further added to my frustration and doubts about their legitimacy. I would strongly advise against trading with this broker, as their lack of regulation and poor service quality have made my experience highly unsatisfactory and risky.
2023-07-06 14:12
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月亮邮递员
more than one year
This is an unregulated foreign exchange dealer. An unregulated company is a fake scam. Friends who have not been fooled should keep their eyes open when they see this comment, and don’t be scammed.
2022-11-27 10:26
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