CEFAX Review: A Definite Forex and Pyramid Scam

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CEFAX Review: A Definite Forex and Pyramid Scam

CEFAX is a scam, this multifunctional trading platform claims to offer exchange and forex trading services. Our review plans to expose why most members lose out.

Judging from the reviews we have seen, the CEFAX platform is a wash-and-rinse scam. Even the team behind it was once associated with a scam. Please stay away from such scams in the future.

What we have here is a classic Forex scam where the platform allows deposits and blocks withdrawals.

Let’s dive into this platform and give you a rough idea of what members face once they sign up with

Note: The safest way to trade cryptocurrencies is by using tested and trusted derivatives. Take a look at some of the best cryptocurrency trading exchanges the industry has to offer.


The platform mainly offers Cryptocurrency trading and investment opportunity services. CEFAX is a platform claiming to offer traders a chance to make a profit using P2P and other services.

Is a scam? Yes

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There are investment plans available such as coin staking that potentially give investors profit. However, we haven’t seen any members profiting from this platform.

According to CEFAX, investors mainly get a percentage of their investment back after a short investment period.

After checking out website data, it’s clear we are dealing with a platform that has no transparency.

The platform has gained a lot of popularity thanks to the huge marketing to try and get investors. has a 90k monthly profit margin.

What most users don’t know is that the platform is far from tested nor is it a regulated trading platform. Domain registration tracks back to 21st August 2023.

One thing’s clear with, there’s a lack of legitimacy and transparency. We tested the platform and noticed a few red flags worth mentioning.

At the end of the day, we didn’t get to withdraw funds.

These red flags include unrealistic promises of high payouts and poor customer support. Others include warnings by regulators and high account verification fees.

The presence of these glaring red flags indicates investing on the platform is not secure. We recommend you steer clear of this and any other platform offering similar services.

Accounts and Plans CEFAX

There are several accounts and plans for trading forex and investing in staking coins. Let’s start with the forex account trading plans. The platform offers three investment accounts, these include Beginner, Standard, and Platinum accounts.


To start trading forex on the trading platform, you have to deposit a minimum of $2,000. That’s a high depository requirement seeing that industry standards are set at $250 for beginners.

The platform fails to give traders ample information before signing up regarding the acceptable trading conditions. These include leverage and spreads and also any commissions incurred during trading.


For standard account holders, the platform accepts a deposit of not less than $5,000. Again, this is a big depository requirement seeing that no one gets the details right. The platform fails to give available trading conditions as well.

Traders are going in blind not knowing the execution types or even whether the platform accepts different trading styles. That’s why we need to invest in a platform offering the best in terms of accountability and transparency.


It’s the most exclusive account with the platform claiming to offer huge incentives such as high leverage and tight spreads. All these with a minimum acceptable balance of $10,000 or coins worth as much.

Trading features remain unknown not forgetting the platform fails to offer much in terms of account managers. Support is not available on any of the accounts. Once you start trading, you’re are on your own.

Crypto investment accounts

These are the staking accounts where the platform claims to offer a guaranteed percentage of profit margins. After staking ETH for a defined period, the platform claims to release profit margins earned.

What the platform does is allow traders to deposit part of their sum and claim it’s the stipulated profit margin. If you invest in 30ETH the platform claims to offer 3ETH weekly profit. It’s just that the broker keeps the 27ETH.

Before long, the broker will block access to your accounts citing account irregularities. That’s why you need to stay away from such platforms in the future. You need to steer clear of this and any other platform or accounts.

Furthermore, we don’t know the vesting times as the platform constantly changes dates. We also noticed a change in terms and conditions after the second or third withdrawal. That’s why CEFAX is hiding the terms before users sign up.

Available trading assets

CEFAX trading accounts

There are four classes of trading instruments available on the CEFAX trading platform. These include Binary, Crypto, Forex, and Indices. Let’s take a closer look at each asset with the broker pairing them against leading crypto coins.

The broker claims they offer ‘European Type’ binary options services. What makes us quote this term is that such trading was banned in all of Europe years back. We don’t understand why this is happening.

Cost of Trading on CEFAX

Takers and marker fees on the trading platform hugely depend on the daily trading volume. These start at 0.3 percent for less than $5,000 worth of trading with the platform charging 1 percent commission on all orders.

For clients with more than $500 in their trading accounts, they must incur a premium fee. The platform offers a subscription-based service and if you don’t subscribe, the platform locks your assets.

There’s also an insurance payment fee that members must deposit simultaneously with the premium fees. All the deposit fees on this platform are calculated in crypto coins. And something funny, there’s no information on withdrawal fees.

It gives scammers a leeway to abuse the withdrawal charges to insane amounts. One thing’s clear with, they don’t want you to withdraw funds.

Is CEFAX Licensed or Regulated?

No, CEFAX is not a licensed or regulated trading platform, in fact, there’s a warning out. The Russian CBR issued a warning to the parent companies behind this platform. There’s no document to prove CEFAX is a legitimate service.

When it comes to investing, you need a secure and transparent trading platform adhering to set rules. CEFAX on the other hand tries to go astray from set investment guidelines. And that’s why we must stay away from such.

Without a valid license from any of the EU regulators, this platform remains a huge investment risk for anyone who signs up.

Is the Safety of Funds Guaranteed by CEFAX?

Safety of funds is not guaranteed on the investment and trading platform. The platform fails to deposit with regulators the insurance depository amount required to start and operate an investment or trading firm.

Your funds are far from safe with

And this means you won’t get ahead with this trading platform. Without the safety of funds, there’s no one to turn to when the platform decides to take away your funds. Once that happens, you will need loads of funds to stay afloat.

Scammed by CEFAX?

Thankfully, there are recovery agents out there that get back stolen funds from such platforms. All you need is to sign up with one and start the recovery process. The process offers a transparent plan to help recover funds.

Verdict CEFAX

After checking the reviews and overall structure of the CEFAX investment platform, everything points to another pyramid scheme that will shut down soon. Please stay away from this and any other trading platform.

Note: Want to invest in proven investment platforms such as staking? Don’t be left behind, go for tested investment platforms

Do leave a comment or email us with any queries.

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