CedarFX Review – How Does This Forex Broker Compare?

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By Theo Madsen

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Cedarfx Review

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CedarFX Review

  • Trading Platform
  • Education & Research
  • Pricing
  • Customer Support
  • Assets


CedarFX is a forex broker established in 2020. It offers 0% commission accounts and is the first CFD broker to offer Eco accounts, which match your commission charges and donate the proceeds towards planting trees. This broker also includes more than 170 tradable pairs as well as access to foreign exchange trading, crypto trading, competitive spreads, demo accounts, and more. Read our complete CedarFX review to learn more about this forex broker before making your final decision.


  • 24/7 customer support
  • Access to the world-renowned MetaTrader 4 platform
  • More than 170 financial instruments available for trading
  • Low spreads and no account fees for trading forex and other assets
  • Multiple account types, including the eco account and free demo accounts
  • Multiple payment methods are available, including bank transfer
  • Low minimum deposit of only $10 with no deposit fees
  • No account maintenance fees and no inactivity fees
  • Mobile trading allowed
  • Same-day withdrawals


  • Only two types of retail investor accounts (no VIP accounts)
  • The education and research section is lacking

Are you looking for a cost-efficient broker for forex and CFD trading? CedarFX has a unique competitive edge thanks to its one-of-a-kind eco account. The broker uses proceeds from commissions to plant trees, which has earned it the title of the World’s First Eco Broker.

If you want to trade and help the planet at the same time, this may be exactly what you’re looking for. Keep reading our CedarFX review to find out more about this forex broker, its offerings, features, and how you can sign up for zero-commission trading.  

About CedarFX

Registered under Cedar LLC, CedarFX is a relatively new forex broker established in 2020. Since then, it has differentiated itself in the market by offering a 0% commission account and is the first CFD broker to provide an eco account.

With more than 170 tradable assets, this forex broker provides access to the secure, world-renowned MetaTrader 4 platform. By opening a CedarFX account, you can opt for foreign exchange trading and crypto trading thanks to numerous crypto pairs available, while enjoying quick money transfers from your low-fee brokerage account. Boasting unlimited demo accounts, low fees, and competitive spreads, CedarFX is headquartered in St. Vincent and the Grenadines.

CedarFX Features

As a young company, CedarFX provides a highly competitive offer compared to many alternatives for forex trading. Below, we’ll review some of its main features, including the trading platform, trading accounts available, and support for novice traders.

Trading Platform

Similar to many other CFD brokers, such as Kot4x or OspreyFX, CedarFX provides access to MetaTrader 4. This is one of the most popular trading platforms for forex trading. Some of the main features of the platform include:

  • Fully customizable interface
  • Allows copy-trading and automated trading
  • Intuitive for beginners, but provides plenty of opportunities for advanced traders, too
  • Hedging, scalping, day trading, and other strategies are allowed
  • Advanced charting and drawing tools
  • Strong encryption protocols for security
  • Multiple time frames
  • Multiple order types
  • Plenty of technical tools and indicators (moving average, MACD, RSI, and others)
Cedarfx Mt4

MetaTrader 4 is the only trading platform provided by this forex broker. Consequently, unlike Capital.com or Plus500, the broker doesn’t provide any proprietary platforms. There is no mobile phone app, either, apart from the MetaTrader 4 mobile phone application. If you want to trade on the go or keep an eye on your portfolio, this could be a huge advantage. Alternatively, MetaTrader 4 is available as downloadable software or accessible via your browser (Web Trader).

Mt4 Mobile Phone App

Demo, Account, Eco Account & 0% Commission Account

CedarFX provides two types of live trading accounts:

  • 0% commission account with low spreads and zero transaction fees when depositing and withdrawing money
  • Eco account that charges you $1 commission per lot traded (per side), which is matched, and then 100% of the proceeds go towards planting trees

Essentially, the eco account has the same features, tight spreads, and the same functionality as the 0% commission account. The only difference is that you will pay a $1 commission per lot per side if you open an eco account. The company matches each $1, and the money goes to Ecologi, a non-profit organization. For every $1 received, the Ecologi staff will plant five trees.

Cedarfx Plant A Tree

If you’d like to try out all features before committing real cash, you can open a demo account and use virtual funds to trade on MetaTrader 4.

Leverage for Forex Trading & Other Assets

The broker’s maximum leverage depends on what assets you want to trade. For instance, for metals and forex, you can use the leverage of up to 1:500, but stocks have a limit of only 1:20 leverage.

However, as an unregulated broker, you need to keep in mind that there is no negative balance protection provided, so you are exposed to virtually unlimited losses when using leverage.

Research & Education

CedarFX offers a FAQ section that covers some of the most basic questions, such as how to set up an account, information about account types, and a few details about trading on MetaTrader 4.

Cedarfx Faq

This broker provides no market research or insights. If you are looking for a beginner-friendly broker that provides plenty of research and educational resources, you may want to check OspreyFX instead.  

CedarFX Fees

CedarFX generates revenue in two main ways, depending on which CedarFX account type you choose. Essentially, there are 0% commission accounts and $1 commission accounts. Both types come with low spreads, but these vary according to your chosen assets. They support forex and crypto trading.

Cedarfx Spreads

Some brokers like IC Markets offer spreads close to zero, but CedarFX has variable spreads depending on the asset you choose. While the spreads may be relatively higher than the previous broker, CedarFX remains quite competitive.

If you opt for eco trading, you need to cover a $1 commission per lot traded. This amount of money is matched by CedarFX and used to plant trees. Withdrawals and deposits are free of charge unless you opt for cryptocurrency, a case in which you will be charged the network fees for each transaction. All withdrawals and deposits are processed the same day.

Overall, the lack of additional fees and relatively low spreads for a broker of its size makes CedarFX a competitive choice from a cost perspective. Also, the minimum deposit is only $10, and you can opt for your preferred base currency (EUR, GBP, UAD, or BTC). The main supported payment methods are BTC, credit or debit card, and bank transfer (the same method is available for both deposits and withdrawals).

Cedarfx Deposit Funds

CedarFX Customer Service

CedarFX provides several methods to contact the customer support team, which is an added benefit considering that MetaTrader 4 platform doesn’t have a standalone customer service team.

You can request a callback, use the live chat feature, or send an email. While these channels are highly efficient and useful if you have urgent queries, it’s important to note that all customer support is English-only.

Cedarfx Customer Support

Who Is CedarFX Best For?

CedarFX is a well-rounded broker, but it surely managed to establish its own niche in the trading market by providing eco-friendly trading. If you are concerned with sustainability, the combination of low costs and dedication to solving environmental issues is certainly one of the main strengths of this broker.

The range of features and tools, forex pairs, and other assets provided will certainly suit both intermediate and advanced traders, but beginners may have to do their own research to learn the intricacies of the trading world since the broker provides a very thin educational section. The free demo account is surely a benefit for first-time traders who want to open a risk-free account with CedarFX.

How Does CedarFX Compare?

The lack of education and research may deter some individuals with lower trading skills. In this case, you may want to opt for brokers that provide such features, such as OspreyFX, Plus500, and other established names in this industry.

The lack of regulation means that you don’t benefit from many features like negative balance protection, which protects you against losing money rapidly. In this case, you may want to start your trading journey by joining a regulated broker, such as FP Markets or Plus500.

If you are not planning to trade forex pairs, joining the MetaTrader 4 platform may not be appealing to you. In this case, you could opt for a stockbroker, like WeBull or eToro, or a multi-asset, multi-platform broker like FP Markets for trading CFDs.

Regarding the eco account and its sustainability initiative, CedarFX is unique on the market right now. This live trading account type may be reason enough to choose its services compared to other brokers, as there are no eco accounts available provided by leading firms. For instance, one of the only brokers that focus on green trading is InteractiveBrokers, which provides a tool that allows you to measure the sustainability of your portfolio.

FAQ: CedarFX Review

Does CedarFX accept US clients?

Yes, Cedar LLC accepts US clients, along with clients from many other countries. It is available in any country whose legislation allows trading through offshore brokers. To be on the safe side, you should first check your local laws before signing up with any broker.

What trading instruments are offered by CedarFX?

CedarFX allows its clients to trade forex, major forex pairs, other fiat pairs, crypto pairs, several metals, a few more indices, and stocks. It also supports all trading strategies, including scalping strategy, but arbitrage is not allowed. All asset classes are available via live retail investor account and demo account.

Is CedarFX a good forex broker for beginners?

CedarFX may be a good broker for beginners as long as they practice good risk management. It’s recommended to opt for an unlimited demo account during your registration process. This way, you can start building your trading skills while trading virtual funds, but keep in mind that past performance is not an indicator of future performance. The broker doesn’t provide any investment advice, so you need to do your own research before implementing your trading strategy.

Final Verdict: CedarFX

All in all, a good broker with low costs, CedarFX is clearly dedicated to providing a safe, low-cost trading environment for traders concerned with sustainability. The zero-commission account has very low spreads, while the $1 commission account is still highly affordable, so you can achieve your investment objectives while actively making a difference regarding climate change. If you want to check if it’s suitable for you, you can open a demo account first and get familiar with its tools and features.

The main areas it could surely improve its offering are education and research, along with transparency and licensing. While it operates within the laws and regulations of St. Vincent and the Grenadines, it lacks the transparency and protection of regulated brokers, which could be very risky for all traders, regardless of experience. Provided this new broker keeps polishing its offering in the future, it could be a great choice for many traders with different objectives and strategies.

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Theo Madsen

Theo has been actively trading the forex markets since 2013. Over the past five years, he has gained experience trading currencies, stocks, options, and futures. Theo's trading experience led him to test out over one hundred different trading services and he shares his insights in reviews to help other traders.

1 thought on “CedarFX Review – How Does This Forex Broker Compare?”

  1. I opened an account with CedarFX, purely because they are doing something which no other broker is doing, planting trees to help the environment. Plusd it helps they provide a great trading platform, 24/7 crypto and zero commission accounts too. would recommend to anyone looking for a good all round broker


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