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CFSM Trader

United Kingdom|2-5 years|
Suspicious Scope of Business|Suspicious Overrun|High potential risk|

https://cfsmtrader.com

Website

Rating Index

Contact

+44 (0)20 7323 0207
support@cfsmtrader.com
https://cfsmtrader.com
Level 55 Riding House Street, London, England, W1W 7EE.

Licenses

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

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Warning: Low score, please stay away! 3
Previous Detection : 2024-11-21
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • The United KingdomFCA regulation (license number: 171480) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

CFSM Trader · WikiFX Survey
Danger A Visit to CFSM Trader in UK - No Office Found
United Kingdom

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CFSM Trader · Company Summary

Note: CFSM Trader's official website: https://cfsmtrader.com is currently inaccessible normally.

CFSM Trader Review Summary
Founded2024
Registered Country/RegionUnited Kingdom
RegulationSuspicious FCA clone
Market InstrumentsForex, CFDs
Demo Account
LeverageUp to 1:500
SpreadFrom 1.8 pips
Min DepositNot mentioned
Trading PlatformMT4
Customer SupportTel: +44 (0)20 7323 0207
Email: support@cfsmtrader.com

CFSM Trader Information

CFSM Trader is a forex brokerage company registered in the United Kingdom in 2024, totally new to the market. The broker offers trading services in Forex and CFDs, a demo account for testing and MT4 trading platform for superior customer experience.

However, the broker gets bad reputation due to several reasons. The suspicious FCA clone regulatory status and inaccessible website position it as an extremely unreliable broker.

Is CFSM Trader Legit?

CFSM Traderholds an FCA (Financial Sector Conduct Authority) with license no.171480. But the license is suspected to be fake clone, such abnormal regulatory status raises doubts about its legality and credibility.

Regulated CountryRegulated AuthorityRegulated EntityLicense TypeLicense NumberStatus
FCA (Financial Conduct Authority)CFS Management LtdInvestment Advisory License171480Suspicious Clone

Downsides of CFSM Trader

Unavailable website: CFSM Trader's website cannot be opened currently, preventing traders to get to know about its background.

Regulatory concerns: The company operates with a suspicious clone regulatory status, meanig that it does not comply to rules from regulatory authorities.

Lack of transparency: Limited transparency through Internet leaves traders in the dark about this company's trading conditions.

Market Instruments

Tradable InstrumentsSupported
Forex
Commodities
Indices
Cryptocurrencies
Shares
ETFs
Bonds
Mutual Funds

Accounts (Leverage/Spread)

CFSM Trader offers ademo account for testing but does not disclose live account options.

The demo account provides a simulated real trading environment for traders to test their strategies and get familiar with the platform.

Some people tested via the demo account but only got a glimpse of very limited trading conditions of the broker. Though the broker claims tight spreads from 0.6 pips for EURUSD, the actual figure seen from demo account is floating around 1.8 pips.

And the claimed leverage is 1:30 for retail customers and 1:200 for professional customers. The maximum leverage showed in demo account is up to 1:500.

Other details about trading conditions such as commissions are not available either.

Trading conditions

Deposit & Withdrawal

CFSM Trader supports funding through credit and debit cards, WeChat, AliPay and other Asian payment processors. Such payment methods indicate that the broker might target Asian clients mainly, and usually reliable brokers don't use WeChat and Alipay as funding methods because it's hardly to recover your funds when you encounter scam.

Payment method

Trading Platform

CFSM Trader told that it offers three options in trading platforms for clients- the ML Trader web platform, the advanced MetaTrader 4 (MT4) and another desktop platform called “IRESS Pro”. But when signing for a demo account, the tester can only acess ML Trader and MT4.

MT4

Customer Support

CFSM Trader can be connected via phone: +44 (0)20 7323 0207 and email: support@cfsmtrader.com, with more immediate and modern contact channels like live chat and social media not available.

Contact info

Conclusion

In summary, we strong recommend you not to use CFSM Trader as a broker. Its operation under suspicious FCA clone status implies possible scam of the company and unavailable website leaves no window for customer to know about them. Furthermore, the broker's funding through AliPay and Wechat is quite susceptible since these are not official payment agencies. Therefore, turn to regulated and reputable brokers is better choice for you.

Broker Information

Company Name

CFS Management Ltd.

Abbreviation

CFSM Trader

Regulatory Status

Suspicious Clone

Platform registered country and region

United Kingdom

Company website
Company address
  • Level 55 Riding House Street, London, England, W1W 7EE.

Linkedin

--

WhatsApp

--

QQ

--

WeChat

--

Customer Service Email Address
  • support@cfsmtrader.com

Company Summary

Review

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