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The WikiFX Score of this broker is reduced because of too many complaints!


United States|2-5 years|
MT4 Full License|Regional Brokers|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|


Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

Server Name
CapitalFinancialAdvisers-Server MT4
Server Location Hong Kong


+81 03-6824-4661
6-10-1, Roppongi, Minato-ku, Tokyo 106-6108
The WikiFX Score of this broker is reduced because of too many complaints!


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

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Contact number


+81 03-6824-4661

Other ways of contact

Broker Information


Company Name

Capital Financial Advisers Inc.



Platform registered country and region

United States

Company website

Pyramid scheme complaint


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Warning: Low score, please stay away! 4
Previous Detection : 2024-07-25
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 6 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • United StatesNFA (license number: 0555675) The regulatory status is abnormal, the official regulatory status is Unauthorized. Please be aware of the risk!
  • This broker exceeds the business scope regulated by United States NFA(license number: 0555675)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!

WikiFX Verification

CFA · WikiFX Survey

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CFA · Company Summary

Aspect Information
Company Name CFA Corporation
Registered Country/Area United States
Founded Year 2-5 years
Regulation Unregulated
Minimum Deposit 1 currency unit (approximately equivalent to 100 yen, depending on the currency)
Trading Platforms MT4 platform
Tradable Assets Forex trading
Demo Account Available (MT4 demo account)
Customer Support 24/5 support, HDI rating survey, phone inquiries, reception hours
Deposit & Withdrawal No fees for account opening, account maintenance, transactions, loss cuts, quick deposits, or withdrawals
Educational Resources Forex information and seminars for beginners, learning from senior traders, official YouTube channel, Mane-iku Channel

Overview of CFA

CFA Corporation is an unregulated trading company based in the United States. It offers a user-friendly trading platform with a minimum deposit requirement of 1 currency unit. The company focuses on Forex trading and provides the MT4 platform. Customer support is available 24/5, and there are no fees for account-related activities, including deposits and withdrawals. CFA Corporation also offers educational resources for beginners. However, as an unregulated entity, traders should proceed with caution and consider regulated alternatives.


Is CFA legit or a Scam?

CFA asserts its regulation by the reputable NFA, but our website indicates that it lacks authorization. This raises concerns about its regulatory status, making it akin to unregulated traders. Traders should exercise caution and remain vigilant when engaging with CFA.


Pros and Cons

CFA Corporation offers a user-friendly trading platform, MT4, which is widely recognized and appreciated by traders. Additionally, CFA Corporation has a low minimum deposit requirement, allowing individuals to start trading with a small amount of money. Furthermore, CFA Corporation focuses on Forex trading. They also offer a demo account on the MT4 platform, allowing traders to practice and test strategies without risking real money. CFA Corporation provides 24/5 customer support, ensuring that clients can receive assistance and guidance whenever they need it. This availability of support enhances the overall trading experience and helps address any concerns or queries that may arise. Lastly, CFA Corporation does not charge fees for various account-related activities, which can save traders money and make their trading experience more cost-effective.

One significant drawback is the unregulated status of CFA Corporation. This raises concerns about the company's regulatory oversight and can potentially expose traders to higher risks. Another drawback is the limited information on tradable assets. While CFA Corporation focuses on Forex trading, there is no clear indication of the range of assets available for trading. This lack of transparency may make it difficult for traders to assess whether their desired assets are offered by CFA Corporation. Additionally, the unregulated status and potential risks associated with trading can pose challenges for traders, especially those who prioritize regulatory protection. There is also a lack of transparency in regulatory compliance, which can further contribute to uncertainty and concerns regarding the company's operations.

Pros Cons
User-friendly trading platform (MT4) Unregulated status
Low minimum deposit requirement Lack of regulatory authorization
Focus on Forex trading Limited information on tradable assets
Availability of demo account (MT4) Potential risk for traders
24/5 customer support Lack of transparency in regulatory compliance
No fees for account-related activities
Educational resources for beginners

Market Instruments

CFA does not specify the types of trading products offered, but from the detailed description of forex on their official website, we can guess that they mainly focus on forex trading.

How to Open an Account?

To open an account with CFA Corporation (, you can follow these six steps:

1. Visit the CFA Corporation website: Go to using a web browser.

2. Account Opening Section: Look for the “Account Opening” or “Open an Account” section on the website. Typically, it can be found in the main navigation menu or on the homepage.


3. Account Application Form: Click on the relevant link or button to access the account application form. This form will require you to provide personal information such as your name, contact details, identification documents, and other required information.


4. Fill out the Application Form: Carefully fill out the application form with accurate and up-to-date information. Ensure that you provide all the necessary details as requested by the form.

5. Submit the Application: After completing the application form, review the information for accuracy. Once you are satisfied, submit the form electronically through the website.

6. Account Verification: After submitting the application, you may need to go through an account verification process. This typically involves providing additional documents to verify your identity and address.

Minimum Deposit

When trading with CFA Corporation, you have the option to start with a minimum of 1 currency unit (approximately equivalent to 100 yen, depending on the currency). This feature makes it convenient for individuals who are new to Forex trading and wish to begin with a small amount of money.

Forex trading allows participants to buy and sell currencies in order to profit from exchange rate fluctuations. It is a highly liquid and decentralized market that offers opportunities for traders with varying levels of capital. Starting with a small amount can be advantageous for beginners. However, it's important to note that Forex trading carries risks, and it is essential to carefully consider investment strategies, practice risk management, and conduct market analysis for successful trading.

Trading Platform

CFA provides the MT4 platform, which is a widely used forex trading platform with various features and benefits. Here is a brief introduction to the MT4 platform:

1. Abundance of Trading Instruments: MT4 allows you to trade over 50 major forex currency pairs, as well as 14 mainstream indices, gold, and silver. It offers a wide range of trading instruments for forex traders.

2. Powerful Charting Capabilities: The platform provides powerful charting capabilities, allowing you to view market data in various chart types such as candlesticks, lines, and American histograms. It offers nine timeframe options for chart timespan, ranging from 1 minute to monthly.

3. Rich Chart Analysis Tools: MT4 offers a variety of major chart analysis indicators, including popular ones like Moving Average (MA) and Bollinger Bands (BOLL). It also provides numerous sub-chart indicators such as MACD, RSI, and ATR. Traders can even create their own custom technical indicators and apply them to their MT4 charts.

4. High-Performance Trading Functions: MT4 offers different ways to enter the market, including market orders, limit orders, stop orders, and one-click trading. It also provides essential risk management tools such as stop-loss and take-profit orders, as well as trailing stops.

5. MT4 Demo Account: Beginners can utilize the MT4 demo account to learn forex trading through simulated trading. It allows you to practice trading strategies, gain familiarity with the platform, and test different approaches in a risk-free environment.



CFA Corporation aims to provide low-cost trading services for its customers. Here is an overview of the fees charged by CFA:

1. Account Opening Fee: CFA Corporation does not charge any fee for opening an account with them. The process of setting up an account is free of charge.

2. Account Maintenance Fee: There are no fees for maintaining your account with CFA Corporation. They do not charge any regular account maintenance fees.

3. Transaction Fee: CFA Corporation offers various commission-free trading options to help you keep your trading costs low. This means that you do not have to pay a fee for each individual transaction you make.

4. Loss Cut Fee: CFA Corporation does not charge any fee specifically for loss cuts. However, it's important to note that losses incurred from trading are a natural part of the market and are not directly related to any fees charged by the company.

5. Quick Deposit Fee: CFA Corporation does not impose any fees for quick deposits. They provide a convenient and fee-free deposit process.

6. Withdrawal Fee: CFA Corporation does not charge any fees for withdrawals from your trading account. You can withdraw your funds without incurring any additional costs.

It's important to keep in mind that while CFA Corporation offers low-cost trading services and does not charge fees for specific activities, there may still be other costs associated with forex trading, such as spreads and potential rollover fees.


Customer Support

CFA claims to provide a safe and fulfilling support system for its customers, ensuring their needs and concerns are addressed. Here is an overview of the customer support offered by CFA:

1. 24-Hour Support: CFA Corporation offers 24-hour customer support, excluding Saturdays and Sundays. This means that support services are available throughout the week to assist customers with their queries and provide guidance.

2. HDI Rating Survey: CFA Corporation has received a 3-star rating in the HDI (Help Desk Institute) rating survey. This rating indicates that the company has a strong support system in place, emphasizing their commitment to customer satisfaction and efficient issue resolution.

3. Guiding Customers: The support staff at CFA Corporation is trained to provide careful guidance to customers, particularly regarding account opening and transaction methods. They are available to clarify any unclear points and offer assistance whenever needed.

4. Phone Inquiries: Customers can reach out to CFA Corporation for inquiries by phone. The provided phone number is 03-6824-4661. By contacting this number, customers can directly communicate with the support team to address their concerns or seek clarification.

5. Reception Hours: The reception hours for customer support are Monday AM 7:00 to Saturday AM 7:00 during winter time and Monday AM 7:00 to Saturday AM 6:00 during summer time. This indicates that support services are available for a significant portion of the day, allowing customers to reach out when it is most convenient for them.

The customer support provided by CFA Corporation aims to ensure that customers receive timely and helpful assistance. Whether it's regarding account-related inquiries or transaction-related questions, the support staff is dedicated to providing comprehensive guidance and resolving any issues effectively.


Educational Resources

CFA Corporation offers a range of educational resources to help individuals learn about Forex trading and acquire the necessary knowledge and skills. Here is an overview of the educational resources provided by CFA:

1. Forex Information and Seminars for Beginners: CFA Corporation provides valuable Forex information and conducts seminars specifically designed for beginners. These resources cover the basics of Forex trading, helping newcomers understand the fundamental concepts and principles.

2. Learning from Senior Traders: CFA Corporation offers opportunities for beginners to learn from experienced traders. Through seminars and mentoring programs, aspiring traders can gain insights and guidance from senior professionals in the field.

3. Official YouTube Channel: CFA Corporation maintains an official YouTube channel where traders can access a wealth of educational content. These videos cover various topics related to Forex trading, allowing individuals to learn at their own pace and convenience.

4. Cultivating Know-How through the Mane-iku Channel: CFA Corporation provides the “Mane-iku Channel,” a resource specifically designed to help traders cultivate the know-how and skills of senior traders. This channel offers insights, strategies, and tips from experienced professionals, enabling traders to enhance their understanding and performance.



In conclusion, CFA Corporation offers a user-friendly trading platform (MT4) with a low minimum deposit requirement and a focus on forex trading. The availability of a demo account (MT4) allows for practice and familiarization with the platform. They provide 24/5 customer support and do not charge fees for account-related activities. However, it's important to note the potential risks associated with their unregulated status and the limited information on tradable assets. Transparency in regulatory compliance could be improved. Nonetheless, CFA Corporation provides educational resources for beginners, aiding in their understanding of forex trading. Traders should carefully consider these advantages and disadvantages when making decisions.


Q: Is CFA Corporation a regulated entity?

A: CFA Corporation operates with an unregulated status, which means it lacks official authorization from regulatory bodies, raising concerns about regulatory compliance.

Q: What is the minimum deposit requirement for opening an account with CFA Corporation?

A: To start trading with CFA Corporation, you can begin with a minimum deposit of just 1 currency unit, approximately equivalent to 100 yen or a small amount depending on the currency.

Q: What trading platform does CFA Corporation provide?

A: CFA Corporation offers the popular and widely used MT4 platform, known for its user-friendly interface and a wide range of trading tools and features.

Q: Does CFA Corporation provide customer support?

A: Yes, CFA Corporation offers 24/5 customer support, ensuring assistance is available throughout the trading week. They can be reached through various channels, including phone inquiries.

Q: Are there any fees for account-related activities with CFA Corporation?

A: No, CFA Corporation does not charge any fees for account opening, account maintenance, transactions, loss cuts, quick deposits, or withdrawals, providing cost-effective trading services.

Q: What educational resources are available for beginners?

A: CFA Corporation provides educational resources such as forex information, seminars for beginners, opportunities to learn from experienced traders, and an official YouTube channel with informative content.

Q: What are the potential risks associated with trading with CFA Corporation?

A: It's important to note that CFA Corporation operates with an unregulated status, which may pose risks for traders. Additionally, the limited information available on tradable assets and the lack of transparency in regulatory compliance should be considered.

Review 11

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All(11) Latest Positive(1) Neutral(3) Exposure(7)
CFA is a fraud company
I flew from FB to the LINE group, downloaded MT4, set up an account, and started trading. Mr. Morita was in charge and initially managed about 100,000 to 200,000 yen. He was told that there was a discount product for crude oil and he would definitely make a profit. But when he purchased 5 units, he was told that the transaction required a deposit. So please make a deposit in a minute. The table shows that 300% for less than 10 million, 400% for more than 10 million, 800% for 50 million, 1000% for 80 million, and 1200% for 100 million. On July 12th, I was told that I would be able to borrow 50 million yen, and without any explanation on how to repay it, it was paid before the contract was exchanged. It said that the operating funds could not repay the debt, so I immediately contacted the person in charge and requested to change the contract or raise the debt, but neither was done, and the contract was not submitted. According to records, it became 378 million in just over a week. When I asked people with investment experience around me, I knew that MT4 was full of scammers. It is rare for the principal to increase six times in a week, even in the US market. The person in charge, Mr. Morita, said that he would discuss with the president, Mr. Tanaka about how to pay from the operating funds. But on July 18th, he said that it was impossible. Even if I say that there is no contract, neither President Tanaka nor Mr. Morita will listen. Would you please arbitrate and make adjustments and only return the original 10 million yen to me? Don't need the rest of the money. Thank you.
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