Overview of CX Financials
CX Financials, established in 2018 and based in the United Kingdom, provides traders with access to over 34 forex pairs and CFDs on commodities. While the broker offers multiple account types with varying leverage and spreads, it is not regulated. This lack of regulation may raise concerns about the safety of funds and the transparency of the broker's operations.
Is CX Financials Legit？
CX Financials is not regulated. It is important to note that this broker does not have any valid regulation, which means it operates without oversight from recognized financial regulatory authorities. Traders should exercise caution and be aware of the associated risks when considering trading with an unregulated broker like CX Financials, as there may be limited avenues for dispute resolution, potential safety and security concerns regarding funds, and a lack of transparency in the broker's business practices.
Pros and Cons
CX Financials offers a diverse range of tradable assets, including forex pairs and CFDs on commodities, providing traders with various investment opportunities. The broker also provides multiple account types to cater to different trading needs. However, CX Financials operates without regulation, which may raise concerns about the safety of funds and transparency. Additionally, some key information, such as commission rates and deposit methods, is not clearly specified on their website, which could be a drawback for potential traders.
Trading Instruments
CX Financials offers a range of trading instruments, including over 34 forex pairs, with exotic currencies like the Swedish Krona, Norwegian Krone, Turkish Lira, and Russian Ruble. They also offer CFDs on gold, silver, and oil.
Here is a comparison table of trading instruments offered by different brokers:
Account Types
CX Financials offers several account types to suit different trading needs:
Micro Account: Requires a minimum deposit of $100, offers a maximum leverage of 1:100, and has floating spreads starting from 2.5 pips.
Mini Account: Requires a minimum deposit of $500, offers a maximum leverage of 1:200, and has floating spreads starting from 2 pips.
Prime Account: Requires a minimum deposit of $1000, offers a maximum leverage of 1:300, and has floating spreads starting from 1.5 pips.
Luxury Account: Requires a minimum deposit of $5000, offers a maximum leverage of 1:400, and has floating spreads starting from 1 pip.
5. Swap Free Account: Requires a minimum deposit of $1000, offers a maximum leverage of 1:100, and has floating spreads starting from 0.9 pips.
Leverage
CX Financials offers leverage ranging from 1:100 to 1:400, depending on the account type.
Here is a comparison table of maximum leverage offered by different brokers:
Spreads and Commissions
CX Financials offers floating spreads that vary by account type. The spreads range from 0.9 pips to 2.5 pips, with no mention of fixed commissions.
Trading Platforms
CX Financials provides the MetaTrader 4 (MT4) trading platform, a popular and widely used platform known for its user-friendly interface, advanced charting tools, and automated trading capabilities.
Customer Support
CX Financials provides customer support via phone at +441905570949 and email at info@cxfinancials.com.
Conclusion
CX Financials presents a range of trading options with its diverse assets and account types, but its lack of regulation raises concerns about fund safety and transparency. Traders should be cautious and thoroughly evaluate the risks before trading.
FAQs
Q: Is CX Financials regulated？
A: No, CX Financials is not regulated by any recognized financial regulatory authority.
Q: What tradable assets does CX Financials offer？
A: CX Financials offers over 34 forex pairs, including exotic currencies, as well as CFDs on gold, silver, and oil.
Q: What are the account types available at CX Financials？
A: CX Financials offers several account types, including Micro, Mini, Prime, Luxury, and Swap Free accounts, each with varying minimum deposits, leverage, and spreads.
Q: How can I contact CX Financials customer support？
A: CX Financials customer support can be reached by phone at +441905570949 or via email at info@cxfinancials.com.
Q: Does CX Financials offer educational resources？
A: Yes, CX Financials provides educational resources, including research reports and market analysis. However, the extent and quality of these resources may vary.
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 provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
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