CFDLINE (cfdline.com) is a clone trading platform and operates in the grey. Those who have signed up with the platform end up ruing the decision. It would be best if you stayed away from cfdline.com or end up losing it all. Members have been heavily complaining of withdrawal delays. And this is another reason you should stay away from it. CFD Line wants to take a cut from naïve investors. Learn more in our detailed CFDLINE REVIEW.
On the about us page, the platform claims to be an innovative CFDs provider. But, unfortunately, there’s nothing to write home about when it comes to their background and history. The platform is a clone trying to use another legit platform’s name.
Most investors don’t bother checking what a platform brings to the table. The allure of making high profits thanks to the promises made by these platforms makes them blind. And this is why you need to learn more about CFDLINE.
The platform even uses logos of leading brands and claims these are liquidity providers. It’s the extent the platform will go to try and get funds from investors. A clone platform will do or say anything to try and make investors sign up.
You need to sign up with leading platforms that enjoy the backing of the trading community. Go for innovative investment solutions that help investors make realistic ROI. Try out coin staking, DeFi, and Masternoding.
CFD Line won’t take your investing or trading to the next level. The platform is an outright sham trying to take advantage of naïve investors. Thanks to our keen eye, we will expose all the red flags found on the platform.
As an investor, your first step should be doing thorough research on the platform in question. Doing due diligence helps you make better and informed decisions. Try and find out what others are saying about a particular platform.
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CFD LINE doesn’t even mention the available trading plans on the platform. As a result, investors are blindly signing up without knowing the full trading features. And this is the reason why we must expose the platform.
The platform fails to mention the available minimum deposit. It’s taking advantage as the platform will claim the more your deposit, the higher your chances of winning. Let it be known that regulators have put a cap on minimum deposit at $250.
Members also don’t know the set trading conditions on the platform. For example, there’s no mention of leverage or spreads found on the platform. These are some of the details investors should know before signing up.
And this means the platform could impose harsh and unfair trading conditions. The platform could as well have high leverage of 1:500 or more. We have seen this before, and it ends up being a tormenting trading experience.
From the deposit page, we can see that the platform only accepts crypto deposits. These include deposits from Bitcoin, Binance, ERC20 Tokens, Ethereum, Litecoin, and more. The platform only makes an exception for a few members.
If you don’t have crypto, the platform will send an email with instructions on bank deposits. We don’t recommend sending any funds via bank transfers. The platform will claim it didn’t receive the funds.
Withdrawing funds with CFD LINE is the biggest hurdle facing investors. Unfortunately, for the past few weeks, no investor has had the chance to withdraw funds from the platform. And this is why we consider cfdline.com a high-financial risk.
There are five classes of trading assets available on the platform. These include commodities, crypto, forex, indices, and stocks. In addition, the platform makes it possible to trade leading commodities from all sectors, including energy and manufacturing.
You also get a chance to trade with 20 leading cryptocurrencies on the platform. The platform pairs these cryptos with the US Dollar. With the crypto market being ever-volatile, everyone wants a piece of it.
Members also get to trade with the forex markets. The platform avails major and minor pairs. In addition, you get to trade with leading indices all over the world. The platform has DAX, DOW Jones, NYSE, and other listed exchanges.
When it comes to stock, members trade with leading company stocks from all over the world. You can trade shares of the FAANG group and other global brands. In addition, we get to see shares from Tesla and Samsung.
There are three award logos found at the footer of their homepage. As we indicated earlier, cloned platforms will do or say anything. These are mere logos that anyone can download on the web and post on a website.
The platform does not have proof of ever receiving these awards. And this is what makes the platform a fraud. There’s no proof from event organizers that the platform was even a nominee. These are some of the glaring red flags most will miss on the platform.
CFDPRIME Ltd is the entity listed as the owner of the platform. The parent company is registered in St. Vincent and the Grenadines. As we feared, CFD LINE is an offshore-based platform.
There’s no trusting such platforms due to the anonymity that comes with the platform. Therefore, it would be best to avoid anonymous, offshore, and unregulated platforms at all costs. These are platforms that won’t guarantee the safety of funds.
CFD LINE is not a regulated platform and doesn’t hold any license from regulators. If the FCA regulated the platform, we would get to see copies of their license. And this is another concrete reason to stay away from it.
Without any regulation, the platform is free to impose any trading conditions they deem necessary. And this means high deposit and leverage. You should ensure the platform you sign up with complies with industry regulations.
Go for platforms regulated by leading institutions like ASIC, CFTC, CySEC, FCA, and the SEC. Other notable regulators include BaFIN, CNMV, CONSOB, FINMA, FMA, and NFA. The regulators ensure all parties adhere to strict trading conditions.
As an investor, you should also test how fast a platform responds to queries. Despite posting two phone numbers, these numbers rarely go through. We tried calling several times to no avail. And this is another major problem.
The platform you choose should have convenient and fast communication channels. From what we see, the platform wants to control the communication channels. For example, the platform can quickly call members; however, it’s not the case for members to reach out quickly.
Your funds are far from secure with a platform that doesn’t segregate accounts. We believe the platform is pooling all funds in a single account. In the event of bankruptcy or insolvency, no member will receive an award.
The platform also fails to provide insurance cover for deposits made by investors. And this is another reason why you should stay away. Without a valid license, the platform fails to deposit the minimum required amount to start such a business.
After seeing the red flags and exposing them, there’s no way we would recommend such a platform. Stay away from cfdline.com.
Instead, we recommend signing up with creative ways of investing. These are groundbreaking ways that guarantee the safety of funds. Try these investment options for a chance to make real ROI.
If you have any queries, feel free to comment or write to us.
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