Dec 31, 2011
Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), The Financial Conduct Authority (FCA)
Arabic, Chinese, English, Spanish
Bank wire, Skrill, Neteller, WebMoney, UnionPay, QIWI, Western Union
Western Union, QIWI, UnionPay, WebMoney, Neteller, Skrill, Credit card (VISA/Mastercard), Bank wire
CFD 1000 is a financial broker that has a somewhat shaky reputation with most traders. Its website displays little to no information with regards to the company’s operations and regulation. The bout firm’ icon on the website was not functional at the time of this writing. However, several other sources indicated that the broker refers to itself as an independent broker’. The fact that the broker appears to be unregulated is a red flag. This is because regulation is one way of assuring investors that the company they are dealing with is safe.
Trusted brokers are not only licensed but also have to abide by the strict codes of conduct set by financial authorities to maintain that license.
Regardless of its poor reputation, the company has some rather interesting features as outlined below.
• Trading platforms: CFD 1000 offers traders 4 trading platforms to choose from. The highly popular Metatrader 4 is available for advanced traders who wish to use automated trading. The Sirix Desktop Platform is also available and would be ideal for beginners owing to its overly simplified nature. ZuluTrade is available for traders with a keen interest in an excellent social trading interface while the web-based platform is highly convenient for anyone who does not wish to download an application.
• Trading accounts: there exist several trading accounts from which traders can choose from. The Micro and Standard accounts are both compatible with the Sirix and Web-based platforms while the silver, gold, and VIP account holders can opt for Metatrader4. Members of the Islam community can use the Islamic account which is governed by Sharia Law.
• Payment methods: CFD 1000 accepts deposits and withdrawals to made through bank wire transfers, Visa, MasterCard, CashU, Discover, Webmoney, PayPal, Neteller, and Webmoney.
• Customer support: There is not much to write home about CFD 1000’s customer support. However, the website supports an average of 10 different languages, which is quite remarkable. The support team can reach through Phone, Email, Live chat, and web form. The education center is also quite modest, offering video tutorials and an e-book.
• Several Trading Platform available: The website does have some beneficial features which can’t be ignored. For one, it offers users a variety of trading platforms to choose from, amongst them the highly popular Metatrader4.
• Several different accounts to choose from: Users also have a variety of accounts to choose from, up to and including an Islamic account which not very many brokers offer.
• Numerous Payment Options: The broker seems to be very keen on providing users with choice, as traders also have a myriad of payment options to choose from.
• Abundant Forex Pairs: The broker offers traders a vast array of forex pairs. It even provides traders with some of the currencies which are considered exotic such as the Russian Ruble, Polish Zloti, Hungarian Forint and the Czech Krona among several others. Its CFD financial instruments include stock, commodities such as coffee and sugar, indices and spot metals.
• Unregulated: Simply put, it is especially hard to trust a broker that is not unregulated.
• Negative Feedback: The service has a large amount of bad press following it.
Even though CFD 1000 has useful features to offer traders, it would be extremely hard to ignore the numerous bad reviews it has garnered from traders. It has gone as far as to be described as a scam by most traders. This reason coupled with the fact that it is unregulated are amongst the reasons why I would not recommend it.