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CFDDesk Review – Is CFDDesk Scam or Legit?

CFDDesk Broker Rating
Account Types9.5
Trading Speed9.3
Customer Service8.7
Safety9.5
9.3
Conclusion
Read our CFDDesk review and learn why we recommend this broker for online trading and why it is not a scam, learn all you need to know in this CFDDesk review before you sign up with the broker.

CFDDesk Review

Thanks to the continuous growth in innovation and business-friendly policies, online trading is becoming an increasingly profitable venture internationally. From national governments to big financial (and even non-financial) institutions, there is a significant influx of new players joining the space each day. Ironically, there is a surge in the number of remotely located individual traders, with probably little or no financial education background, making that leap as well. Unfortunately, for most of them, that journey quickly comes to an end almost as soon as it gets started.

But that is not surprising. Trading comes with a lot of risks. Sufficiently dealing with those risks requires that you, as a trader, arm yourself with valuable years of experience, a comprehensive understanding of financial systems, a sound approach and perspective for analyzing market conditions, plus an effective trade execution strategy.

While it is necessary to have all of those qualities, it is even more crucial you know that your chances of becoming wealthy with web trading will, by a great extent, be determined by the brokerage services provider company with whom you deal. Gone are the eras when trade services platforms strictly limited their functionalities to brokering – being the middlemen between the markets and investors.

Asides from having the regulatory backing to operate as a legitimate business, a trade services organization must ensure its users have access to the best analytic tool available, access to reliable information, and efficient implementation of risk management policies to protect users from sudden price movements. Also, the company must provide a robust customer support unit available on a 24/7 basis. It is even better if such a firm can go the extra mile and tutor its users to have a laser-eyed view for understanding market trends while gaining rich insights to make accurate price predictions.

With all of those points in view, we have set out, in this post, to review the popular brokerage services platform, CFDdesk. This review is informed by our own experiences interacting with the site, and our objective is to make it as honest as possible. In the end, you should be able to decide if you want to use them or not.

CFDdesk broker: the introduction

CFD Desk broker was founded in 2018 to be a financial services firm with three key objectives in mind: to offer investors the best online trading experience, simplified access to liquidity, and efficient risk management features that can be trusted.

Though still very young compared to some of its counterparts, it has grown to become a world-class brokerage firm that has taken center stage in South America – while also servicing a global pool of customers. However, citizens of some countries like Nigeria are exempted from using its platform.

In fairness and recognition of these feats, it has gone on to win several awards.

CFDDesk website

Why CFDdesk broker?

Regulatory compliance

While the internet ushered in a complete transformation of human lifestyles, even finding application as a safer method for storing data, it also made possible an unprecedented level of crimes and thefts of all sorts, never before recorded in human history until now.

In response to this, regulatory bodies have established mandatory requirements and operational measures online businesses must oblige themselves to before taking their products to the targeted customers. These rules are usually coded in AML and KYC policies.

CFDdesk is a registered company that operates under the license of FSA Seychelles as a regulated Forex broker. Thus, it fully gives itself to obeying the AML and KYC policies of the institution.

CFD KYC (Know-Your-Customer) obligations

One of the obligations is that users are not allowed to trade on the platform without committing first to submit essential documents about their identity, background, and source of funds.

Sure, you will be required to do the same. Also, to process deposits and withdrawals, you might be required to enter your bank account details, though that depends on what payment method you select.

But you do not have to worry about the safety of your information as they are well-protected.

CFDdesk uses the most advanced encryption technology (plus a firewall system) to guard users’ information against identity theft and any possible misuse of personal data.

To be sure, you can go ahead and verify the SSL certificates of the site.

CFD AML (Anti-money Laundering) policy

By now, it is no news that so many online platforms are being used to facilitate the illicit use of funds (buying and selling of addictive drugs, terrorism financing, concealing the whereabouts of stolen funds, e.t.c). They achieve this through the withdrawal and deposit functions available on some websites.

That is the reason why there are many grave implications for any potential breach of an AML policy. Businesses might even lose their operational licenses.

One of CFDdesk AML measures is that investors are only allowed to deposit or withdraw their funds in the accounts that were opened with the same name they used to register.

Thus, adhering to anti-money laundering policies strictly not only ensures CFDdesk can guard against being used as a channel for moving unclean funds, but it also strengthens the confidence of investors in its longevity.

Funds protection

When you sign up to own an account with a financial services firm, your ultimate concern, asides from the safety of your data, is the funds you are entrusting into their care.

The same school of thought should apply when you search for a reliable broker with whom to trade. Quite remarkably, CFDdesk keeps separate accounts to avoid mixing its funds with those of investors.

These separate accounts are domiciled with banks operating under insurance coverage, giving investors a double guarantee of safety over their money.

Though you will be prompted, it is still entirely up to you to activate the 2-factor authorization method. That is not only needed to protect your log-in sessions, but it also adds an extra layer of security for your capital.

What do they offer?

Even though there has been a paradigm shift as most exchange platforms no longer see themselves as mere trade houses, asset trading is still basically what they do. And like the proverbial saying: Do put all your eggs in one basket, a trading platform tastes better when it has much more than a few assets to offer. Unfortunately, most trade sites restrict themselves to offering just a few sets of financial instruments, yet there are many available. That is one unique aspect of CFDdesk brokers.

From stocks to Forex, commodities, indices, and even cryptocurrencies, CFDdesk is a one-stop-shop for all asset classes. By estimation, there are more than 1000 world-class assets available to be traded on the sites. Now you may wonder: “What does it matter?”

If you want to have a prolonged and successful career participating in the world of trading, portfolio diversification is one strategy you must never neglect or underestimate. And, there is no better way to do that than signing up on an exchange where you can invest in multiple assets at once. 

Now, let us review each of these product offerings in-depth, as they are categorically displayed on the site.

  • CFDs

Contract for Difference (CFD) is a form of derivative trading where you can bet your money on the difference in the starting and closing prices of a futures contract. The difference is known as the spread.

Except for cryptocurrencies (discussed below), all assets trading on CFDdesk is done in this form. Thus, you can speculate or make market predictions on the short or long-term price of the asset of blue-chip companies such as Google, Microsoft, Apple, etc.

It also means you will have the opportunity of turning in profits, whether there is an increase or decline in the prices of the shares.

  • Forex

Forex is, by far, the most liquid and most active financial market in the world today, with daily traded volume exceeding $5Trillion. It is where all currencies in the world are traded against each other in pairs. It is also the space with the highest profit potential when done the right way, which is why most of the big players such as government institutions, banks, multi-billion-dollar companies, and private investors jostle among themselves to close with profits each day.

With CFDdesk, irrespective of the size of your capital, you will be able to enjoy a 1:200 leverage ratio, taking alternate positions on multiple currency pairs.

  • Commodities (Raw materials)

Besides being more predictable – and therefore easy to profit from – investors all over the world love to diversify their funds into this market. The unique thing about this sector is that it is controlled by two elemental forces which are easy to comprehend: demand and supply volumes. For a newbie trader, commodity trading will be the best place to start.

Thus, if you can forecast the scarcity or availability of materials such as silver, oil, gold, copper, and even agricultural goods such as cocoa and sugar as per their demand corresponding supply, CFDdesk will allow you to do so. 

However, unlike the Forex offering, the leverage here is relatively low (sometimes 1:5, 1:20, or 1:50).

  • Stocks (Actions)

Stock trading is the special category where assets of big corporations – such as Microsoft, Google, Twitter, Facebook, and even major beverage companies such as Pepsi – are grouped. Interestingly, on the CFDdesk website, there are over 100 stocks of such blue-chip firms listed.

That there are relatively fewer factors controlling the stock market makes it a friendly place for intermediate level investors to ply their trade before moving on to a more volatile market like Forex.

  • Indices

Index trading is specifically a derivative form of stock trading. That is, rather than trading shares of a single company per time, you can take an index position to trade the shares of different companies together at once. A good example here is the popular S&P 500 (which comprises shares of 500 of the biggest and most successful companies in the US). There are currently 17 such companies available on CFDdesk with probably more index expected in the list.

Considering the unique and complex conditions of index trading, CFDdesk has made available on its website highly educative resources for prospective traders seeking to dive into the niche.

  • Cryptocurrencies

Even though there has been so much buzz lately on digital assets such as bitcoin, ethereum, ripple, etc., most traditional trade services providers are still hanging on the fence concerning whether or not to add them to their list. The few ones who eventually make an attempt do so with baby steps, embracing majorly bitcoin, with a fewer number of them taking a step further to add ethereum. But as most experts and even some of the most skeptical economists have admitted, bitcoin and the other altcoins are here to stay.

CFDdesk, in its usual fashion of embracing technology and innovation, will allow you to trade on a broad set of cryptocurrencies, ranging from bitcoin to minor ones such as litecoin.

A state-of-the-art-infrastructure

Aside from equipping you with the right knowledge, tools, and daily analytic insights to ease your participation in any of the niches stated above, CFDdesk ensures you have within your disposal cutting-edge technologies and the most simplified process flow to make your overall trade experience better.

We review those features in the next section.

Algorithmic Trading

Effectively dealing with the volatile nature of the financial markets requires a certain level of precision which we, as humans, can not afford to attain. Hence, algo trading was developed to bridge this gap.

Algo trading is essentially the use of calibrated computer programs to track market trends in real-time, while also executing automated trade orders. Of course, there is no guarantee that this method will always yield the expected results (profits), but it does increase your chances significantly.

If you are a busy person or the idea appeals to your fancy, you can sign up quickly and plug into the CFDdesk Algo trading feature.

Education center

In our estimation, this is by far the most valuable resource on CFDdesk exchange (especially for beginner traders), and guess what? It is available for free!

Even though other trading platforms offer some kinds of free trading courses, the contents are mostly elementary, while the more comprehensive learning materials are reserved for veteran investors. CFDdesk education center comprises a video chart analysis section, free financial news updates, live market summary frequently updated in real-time, on-site calculators, and course materials (videos and eBooks). It also features a glossary section which is particularly useful if you are not familiar with the vocabularies frequently used in web trading circles.

Of course, going through these materials does not make the certainty of your prediction guaranteed. Neither does it make it possible to verify the accuracy of your forecasts. But it does increase your chances significantly as your decisions are well-informed and calculated.

Deposits and withdrawals

Ideally, every process on an online platform should be easy. The on-boarding stage might be difficult and sometimes way too complicated, but that can be forgiven. However, it is inexcusable when the payment methods are filled with obscurity, inconveniencing users from quickly withdrawing funds, with the same speed they were deposited. What is worse is when there are only a few methods for carrying out these processes.

Fortunately, investors trading on the CFDdesk exchange do not go through such experiences. From debit/credit cards (Mastercard and Visa supported), Paypal, wire transfers, and several third-party payment processors, traders have myriad options from which to choose.

Besides, users get to receive alerts for every processed transaction. That way, they can easily track their funds.

Finally, it would excite you to know that CFDdesk will allow you to start trading with them with a relatively low initial deposit amount of just $250. For the sake of comparison, most exchanges set the minimum to $500.

World-class customer service system

A website by itself cannot run smoothly. It takes the efforts of dedicated site engineers working from the backend to keep an online platform smoothly. However, there would still be moments of partial or complete breakdowns in the operation of a site. When that happens, the skills of an efficient customer service unit can restore confidence in users.

Most investors that have interacted with the CFDdesk site can attest to the exceptional responsiveness of the customer service personnel. From the immediate resolution of customer complaints to professional communication etiquette, you will find all the satisfaction you need in a customer service unit if you sign up on this exchange.

Also, you may not always need the assistance of the customer care staff. Some of the common issues users tend to face are already documented in the FAQ section – with solutions given to each one.

Trade anywhere on different devices

The great thing about being a web trader is that you can stay connected to your activities at all times, anywhere you are. But that depends on the exchange platforms utilizing the necessary technology that makes the experience possible. CFDdesk offers a user-friendly interface and intuitively displayed features that combine to make trading an enjoyable experience.

There is also a mobile app version of the website, which can be accessed on both Android and iOS devices. Desktop users are also not left out.

Conclusion

There are numerous scam exchanges these days, with even new ones sprouting up each day. But CFDdesk broker is not one of them. It is one of the most remarkable trade services providers you can find, and it would continue to be so in the distant future.

Shelly Melancon (Switzerland)

Shelly is a cryptocurrency enthusiast from Switzerland, she bought her first crypto in 2015 when it was way less popular then it is today and since 2017 she has been writing about cryptocurrency for online news portals. Shelly is the newest addition to the Tokenhell team, she writes mostly news and reviews related articles , stay tuned to her posts to stay up to date with the crypto world.

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