CFreserve is a Forex and Crypto brokerage that allows users to trade a large number of coins 24/7. You can trade on Desktop, Tablet or email as their trading platform is completely integrated with their trading software. There are 72 trade-able assets in total. These cover Forex, metal, commodities, indices and CFDs. The broker has also listed down some of the benefits that can be enjoyed while trading on their platform. Some of the benefits include CFDs trading which the site claims to be the easiest assets to trade and the ability to trade on the go for traders who want to use their mobile devices.
On the marketing material, CFreserve claims that they are offering CFDs trading in over 10,000 instruments.
Our funds are allegedly going to be safe on this brokerage’s platform since they are kept in a segregated account at a top tier bank in Australia. This statement cannot be verified because CFreserve has not provided their license with any with financial regulatory body and hence we can’t be guaranteed that indeed funds sent through this brokerage is being separated from the company’s own funds.
On top of that, trading accounts can be held in various base currencies such as AUD, USD, EUR and GBP respectively.
As always, the big question is whether such brokerages should be trusted or not. CFreserve does not seem to have their regulatory license in order and there are also other concerns that we will discuss in the next section of this review.
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CFreserve was created in October 2018, exactly one month after Coins 247 was launched. Both websites seem to have copy pasted information from each other, which have made us to believe that they are owned and operated by the same entity.
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In their about us page, Coins 247 claims that they are owned by a company known as Sheffieland Limited. However, on the about us page of CFreserve website, there is just vague information describing the background of the website’s operations and what they do. This information is quite generic and does not help us establish who is behind the brokerage or even the dates which it was launched. In addition to this, they don’t disclose details with regards to whether or not they are licensed. So this suggests that CFreserve is not even licensed.
There is an email for contacting support but no phone number. In addition to this, CFreserve does not disclose their location or physical address where their business is based at.
Because this is a brokerage, we expected them to list down the various types of trading accounts which they are offering their clients. Unfortunately, it looks like CFreserve does not have any account type. Instead, they are just accepting some type of minimum deposit and letting investors trade on their platform.
We have also checked out their trading platform and discovered that this platform looks similar to the usual binary options trading platforms run by most brokers out there. This is a typical CFDs trading platform which can be used on mobile devices as well.
There is also another thing that we noticed while going through the CFreserve website. The website is incomplete as some parts still have dummy texts that came with the template of the website. In our opinion, this is quite unprofessional. They should have completed work on this website before presenting it to the world. This kind of work is unacceptable and it shows that this broker is in a hurry to find customers who will deposit on their platform even if they have not completely fixed their site.
On the trading platform’s page, we realize that this page does not load the platform in question. This means that the platform has not even been uploaded on the said page, meaning that CFreserve is an incomplete website. They can’t possibly find customers if this is the case.
The minimum deposit is $250 and there is no maximum. Other important pages are also missing such as their ”legal” pages, terms and conditions, AML policy page among others. This means that the broker is unprofessional and is out to get you to deposit the $250. You have to wonder what else will happen to your money if you fund your trading account with that amount. Chances are high that you will never recover your money if you push the send button.
By the way, they don’t seem to have a trading platform at all. We are making this assumption based on the fact that this website’s platform does not load and they are not able to show us what platform they are using. So this looks like a scheme to grab your money and disappear. Although $250 doesn’t look like a lot of money, it can still be painful to lose your money.
We don’t know where the operators of this site are based at. Secondly, there is a high chance that this brokerage is owned and operated by the same unregulated entity called Coins247.
Both claim to be working with a ”top tier” financial institution in Australia but this is not true because if they are not regulated, there is no way they can work with such an institution.
Also, the level of transparency on this site is wanting. They haven’t even disclosed the account types and trading conditions or even their fees and yet they expect serious traders to deposit money with them. This cannot happen and if you actually ignore these red flags, you will eventually lose your money.
Clearly CFreserve does not meet our criteria and we do not think this is something we can recommend. You should find regulated brokers whom you can work with but not scammers. You need to exercise extreme caution before you deposit.
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