Forex and CFD broker CedarFX entered the market earlier this year with the promise of being the cheapest and most environmentally-friendly online trading platform.
The new broker, which offers investors access to more than 180 assets via MetaTrader4, is the first company in the online CFD market to join the trend of fighting climate change by offering the Eco Account.
Through the Eco Account, investors will donate a commission of $ 1 per lot traded, which is enough to plant 5 trees.
CedarFX’s contribution to climate change solutions comes through an organization called Ecologists which essentially raises funds from companies around the world to increase tree planting and reduce carbon emissions.
So far this year CedarFX is already responsible for planting 5170 trees.
CedarFX is a Crypto-Friendly platform
In addition to being the world’s first green broker, CedarFX aims to become a crypto online trading platform.
Therefore, users can make deposits and withdrawals using bitcoin and also trade on more than 35 different digital asset pairs with a leverage ratio of 100: 1.
Specifically, the leverage ratio on cryptocurrency coins on CedarFX is one of the most highs in the industry that investors can get.
At CedarFX, investors have access not only to popular crypto coins like Bitcoin, Ethereum, Litecoin, and Ripple, but also some of the most traded altcoins in the cryptocurrency market which include EOS, Quantum, TRX, ETP and many more.
Additionally, the broker supports ultra-fast withdrawals and ensures that all withdrawal requests are processed within 24 hours. When a user makes a deposit on the platform, it only takes 5 minutes to an hour for the funds to appear in the client’s account.
CedarFX zero commission trading account
CedarFX offers two types of accounts, the zero commission account and the eco account.
The difference between the two accounts is the additional charge of $ 1 per lot traded that is collected for the cause of climate change on the eco account.
However, keep in mind that the broker allows users to open more than one account and thus, you can take advantage of both types of accounts.
If you opt for the zero commission account, CedarFX does not charge any fees such as deposit and withdrawal fee, account management fee and fixed trading fees.
Instead, a user only pays the spread of buying and selling a given asset.
After all, the broker offers very tight spreads starting from 0.7 pips for the EUR / USD pair, which is below the industry average.
Finally, users can start trading on CedarFX’s MetaTrader4 platform with an initial deposit of just $ 10 if they make a deposit in Bitcoin.
If not, the broker requires a minimum deposit of only $ 50 for all other payment methods.
Traders can also sign up for a free demo account to test the platform and all the features provided by CedarFX.
How to open CedarFX trading account?
Fill in the form with your details on the Sign Up page to create a CedarFX Account.
After you log in to your CedarFX Account, you will need to deposit a minimum of $10 and create a free MT4 Trading Account to start trading.
You can trade on any mobile device, tablet or desktop, as long as you have an internet connection, by downloading the MT4 App or using the Web Trader.
CedarFX offers free Demo Accounts which present identical market conditions to CedarFX’s Live Trading Accounts.
Demo Accounts are designed to allow traders to practice their strategy and understanding how to use the MT4 Platform, without using any funds to trade with.
There’s no limit to how many Demo and Live Trading Accounts clients can open.
Traders can also use different leverage settings and currencies for multiple accounts.
When opening a Trading Account, clients can choose between USD, GBP, EUR or BITs as the baseline currency.
CedarFX enables traders to open as many trades as they want, with Zero commission.
CedarFX’s account type and Ecologi
CedarFX offers two account types: the 0% commission accounts and Eco Accounts.
The only difference between these two accounts is the commission rate.
With a 0% Commission Account, traders can trade all assets without paying any commission to the broker.
With an Eco Account, traders are charged $1 commission per lot traded, and all commissions will be used to support environmental causes through Ecologi.
All other aspects of the account, such as spreads, leverage and instruments, are identical.
What is Ecologi?
Ecologi is a UK-based social enterprise that raises money from businesses worldwide, to fund environmental causes, such as tree planting and carbon reduction projects.
Ecologi’s tree-planting partner is The Eden Reforestation Project, while all carbon reduction projects are certified by Gold Standard. For more information about the projects Ecologi supports, visit https://ecologi.com/projects.
At CedarFX, it believes in the power of individual and collective action to tackle the biggest challenge of our time: climate change.
This is why CedarFX’s teamed up with Ecologi to help support projects that truly make a difference.
In addition to offsetting CedarFX’s workforce’s carbon footprint, CedarFX is also supporting reforestation projects and initiatives to reduce global warming.
If you want to be part of the environmental movement, you can do so by opening an Eco Account!
How to deposit money to CedarFX?
CedarFX offers Bitcoin as a main deposit method, as well as the option to deposit using your Credit Card or by Bank Wire Transfer through a third-party website.
Bitcoin is the fastest way to deposit funds, so clients can either deposit in Bitcoin directly or buy and send Bitcoin through a third-party service.
To deposit funds, simply log into your CedarFX account and select the ‘Deposit’ option from your user dashboard, and choose your preferred deposit method.
For Bitcoin deposits, proceed to input the amount you want to deposit and click ‘deposit funds’. Next, a Bitcoin wallet address will be shown to you.
Send the funds you want to deposit to that address, and they will be loaded into your account automatically as soon as they are received.
The wallet address provided will expire if unused after 15 mins.
Please request a new address for future deposits.
When choosing the credit or debit card deposit option, you will be directed to a third-party website. Here, you will need to create an account and purchase Bitcoin, which will be automatically sent to your CedarFX account.
The minimum deposit in Bitcoin is $10. Any amount below this may not appear in client accounts due to the Blockchain network fees, which charges 0.0005BTC per transaction.
The minimum deposit for other payment methods is $50.
CedarFX does not charge any fees when depositing via CedarFX website. However, Bitcoin deposits carry a fee of 0.0005BTC charged by the Bitcoin Network, irrelevant of the size of the transaction.
Bitcoin transactions can take between 5 minutes and an hour to arrive in your account. This time depends on blockchain traffic.
How to withdraw funds from CedarFX account?
CedarFX offers same-day Bitcoin withdrawals for all clients. CedarFX’s team will see to your withdrawal request within 24 hours of submission, and your funds will then be sent directly to your Bitcoin wallet. We recommend you use a reputable Bitcoin wallet provider such as Coinbase.
The minimum amount for withdrawals is $10.
There is no limit to how much clients can withdraw!
CedarFX’s team will review your withdrawal request within 24 hours. Afterwards, the withdrawal will be processed and the time it takes for you to receive your funds will depend on the blockchain traffic.
Unless you’ve withdrawn all your funds, you will still be able to trade using any remaining funds kept in your account.
You may cancel your withdrawal request while it is still pending, by contacting CedarFX’s Support Team (available 24/7).
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