CedarFinance.com (Closed) Review

Why did we consider CedarFinance as a Binary Options broker which clients have to stay away from? Find out the reason in our review.

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CedarFinance.com is a binary options broker which was founded in 2011 at the Republic of Cyprus. This company is different from the average online broker because they make use of video clips to advertise various promotional bonuses to attract traders. Aside from being used as promotional material, CedarFinance uses video clips for their training videos. CedarFinance also provides investors with the Zoom Magazine, which covers the analysis of the present status of the market, as well as significant events in the marketplace.

CedarFinance’s Trading Platform

The company offers a huge Educational Center with a trading manual (this is an e-book that clients must read prior to registering an account), training videos (a total of 5 lessons about binary trading), webinars, a newscast regarding daily market updates), and the Zoom Magazine.

One Touch Payout up to 500%

Options include: Options Builder, One Touch, Low/High

Expiry time: 60 seconds

Minimum Deposit and Withdrawal: 200 EUR or USD

Accepts Solo, Maestro and Maestro UK, Visa Electron, Diners, MasterCard, Delta and Visa credit cards

Deposit methods aside from credit cards include CashU, Wire Transfer (minimum of 500 USD) and Debit cards

What can new clients expect when they sign up with CedarFinance?

The company is notorious for promising huge returns of investment that are too good to be true, and that these returns can be claimed within a day. This is the first thing new investors have to be careful of, because it is not possible to become a millionaire in a day. The money has to be deposited, and trades have to be won for a few weeks to see the ROI. Some of the invested funds will be lost during bad trades, so these advertisements are fraudulent.

CedarFinance offers a win rate of 65 – 75%. This may not be the lowest rate available, but there are other online brokers that offer higher payouts and better service. Speaking of service, the online community has been complaining about the withdrawal process (or lack of it) of the company, and no documentation for the clients about any bonus agreement and the requirements for a turn over. Since the minimum deposit and withdrawal amount is 200 USD or EUR, if the client were to invest in CedarFinance and lose one trade, he or she will not be able to get back that amount unless another 200 is deposited and he or she wins the next trade.

All of these issues, and the fact that CedarFinance does not offer a demo account for first-time clients to try the service, force us to recommend that investors should avoid this online broker and trade with a better provider.

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