Close Newsletter
South Africa newsletter
Signup for the newsletter and keep updated
about the best brokers and auto trading robots.
CF Group
Rating:
Binary Option Programs Award
Min. Deposit
$70
Min. Investment
0.01 lot
Regulated Broker
No

  1. CF Group

    CF Group is an unlicensed forex and CFD broker falsely claiming to be regulated by the The Financial Markets Authority (FMA) in Zealand and by The Financial Conduct Authority (FCA) in the UK.

    Our team looked into the matter even further and has all the answers regarding who this company really is and whether they are actually a scam South African investors should stay away from.

    Read our full review and verdict below to find out all you need to know about CF Group.

    The 4 Account Types

    Like most brokers, CF Group offers a selection of trading accounts South African investors can choose between. Each account offers different trading conditions which of course, depend on the minimum deposit.

    It’s interesting to note here that CF Group allows customers from South Africa to start trading with a real account with an especially low minimum deposit of only $70. This is a great advantage for beginners who don’t want to invest too much money in the beginning.

    CF Group also offers a free demo account for beginners to practice before investing any real money.

    Details of each account are outlined below.

    Mini Account –> $70 Minimum Deposit

    • For beginners
    • Investment guide
    • Free information from CF
    • trade size: 0.01 lot
    • leverage: 1:500
    • 6 floating spread

    Standard Account –> $200 Minimum Deposit

    • Investment guide
    • Free information from CF
    • trade size: 0.05 (forex), 0.01 lot (others)
    • leverage: 1:500
    • 2 floating spread (30% lower)

    Platinum Account –> $5,000 Minimum Deposit

    • New member treatment & gift
    • Birthday gift worth $30
    • Free information from CF
    • trade size: 0.01 lot
    • leverage: 1:500
    • 0 floating spread (50% lower)

    Buffet Grade Account –> $20,000 Minimum Deposit

    • Birthday gift worth $200
    • Free information from CF
    • trade size: 0.5 lot
    • leverage: 1:500
    • 0 spread
    • $10 – $12 / lot commission
    • Interest return of net account
    • Individual client manager

    Demo Account

    If you are a complete beginner in trading, we would suggest you try the CF Group demo account before investing any real money. This account is entirely free and allows South African users to practice trading entirely risk-free with virtual money.

    Even experienced traders take advantage of a good demo account, that allows them to test out the broker’s platform before making their first deposit.

    Trading Platform & Assets

    As mentioned in the beginning of this review, CF Group is a forex and CFD broker, which means South African investors get the chance to trade CFDs in over 40 assets including forex, indices and commodities. You cannot trade cryptocurrencies or stocks with CF Group.

    As for the trading platform, CF Group has its own proprietary platform available for both desktop and mobile use.

    They do not have the MetaTrader 4 (MT4) platform available, which is definitely a disadvantage, as the MT4 platform is the most popular and recognizable forex trading platform today.

    Customer Support

    South African customers can reach the CF Group customer support team via email, phone or the contact form on their website. They do not have a live chat or FAQ section available.

    Company Info & Payment Methods

    CF Group claims to be owned and operated by the company CF GLOBAL LIMITED and associated with CF Group Limited. However, the FMA warns South African investors that this is not true and further explains it is typical for clone firms to make such false claims and give fake license numbers.

    As mentioned in the beginning of this review, CF Group is falsely claiming to be regulated by The Financial Conduct Authority (FCA) in New Zealand and by the UK’s Financial Conduct Authority (FCA).

    This is a massive red flag when it comes to this company, for it proves they are lying to potential customers with the purpose of trying to appear more legitimate and trustworthy.  

    The company does not provide any information on the payment methods they accept, but it is safe to assume they accept credit card (Visa, Mastercard) and bank wire transfers.

    Warning: South African traders are in no way encouraged to deposit any money with this broker.  

    Verdict: Is CF Group a Scam?

    As you have probably realized by now, our team, as well as the FMA in New Zealand, have concluded that CF Group is a scam and South African traders should stay away from this company at all costs.

    Not only is CF Group not licensed by a regulatory agency, but they are falsely claiming to be regulated both by the FCA and the FMA and giving fake license numbers. This is an obvious indication that this broker is scamming South African investors.

    Conclusion: Don’t waste your time with yet another scam company, when you can simply trade directly with award-winning, regulated brokers like IQ Option.  

CF Group articles

Other Broker Reviews