Early on this year, CedarFX, a forex and CFD broker, made its way into the market with the promise of becoming the most eco-friendly and cost-effective online trading platform. The new broker provides its clients with access to more than 180 assets that can be traded through the MetaTrader4 and is the first company to have entered the online CFD market to offer the Eco Account for joining the trend of fighting climate change. When investors use the trading account, they will make donations of $1 in commissions for every lot traded, which is enough for planting 5 trees.
An organization known as Ecology will be used by CedarFX for making its contribution to climate change solutions. The aim of this organization is to raise funds from businesses all across the world for reducing carbon emissions and increasing tree plantation. Up until now, 5170 trees have already been planted, thanks to CedarFX. Not only is it the first eco-friendly broker in the world, CedarFX is also aiming to become an online trading platform that will be crypto-friendly. Therefore, users are giving the option of choosing Bitcoin for making their deposits and withdrawals. In addition, they can also trade more than 35 digital asset pairs and a leverage of 100:1 is offered to them.
It is worth noting that the leverage ratio CedarFX is offering on crypto coins is the highest that’s being offered to investors in the industry for now. Moreover, not only does CedarFX provide its clients the opportunity of trading some of the popular cryptocurrencies in the market, such as Bitcoin, Litecoin, Ethereum and Ripple, but they also given the chance to go for some of the most traded altcoins, such as ETP, TRX, Quantum, EOS and lots more. Furthermore, the broker has also added the feature of ultra-fast withdrawals and processes all submitted requests within 24 hours.
As far as deposits are concerned, it takes anywhere between 5 minutes and one hour for the money to be reflected in the user’s account. There are two account types that have been incorporated by CedarFX; the eco account and the zero-commission account. The extra charge of $1, which is collected from the eco count for the climate change cause, is the primary difference between the two account options. However, you should note that CedarFX allows its users to open more than one account, so both accounts can be opened simultaneously.
If you opt for the zero-commission account, you will not be charged any fee, such as account management fee, deposits and withdrawal fee, and fixed trading commissions. Instead, the buy and sell spread has to be paid by the user of a certain asset. Moreover, CedarFX is offering very tight spreads, which start at 0.7 pips for the EUR/USD pair, which is far below the industry average. It should also be noted that the minimum deposit needed is just $10 if you are using Bitcoin. Otherwise, a $50 minimum deposit is applicable for every other payment methods that are used. A free demo account is also offered.