Our series of broker websites reviews now focuses on CFDworld company. The company is controlled by Czech National Bank (CNB) and Cyprus Securities and Exchange Commission (CySEC). Also, undertaking to comply with MiFID guidelines can serve as a warranty. The guidelines impose saving investments to separate clients’ funds to ensure their security.
How to start trading?
It’s easy to begin trading with CFDworld. It only takes a few minutes to open live or DEMO account. The DEMO account is valid for 30 days. You will have to provide many personal details and also attach scan of either your ID card or driving licence to guarantee validity of the data. However, that is a standard procedure. The last condition to open the live account is to deposit at least 250 USD.
CFDworld trading platforms
The company uses the world’s most popular and sought-after electronic trading platform MetaTrader5. The disadvantage is the lack of any alternative, yet that depends on personal preferences.
What can I trade?
As one can understand from the company name, CFDworld provides CFD contracts only. The offer is surprisingly wide and the customer can choose from currency pairs, indexes, commodities or CFD stocks. The lack of cryptocurrency can be considered as a limitation by some, but I myself don’t search for this risky trading and therefore don’t miss it.
The company complies with ESMA standards, meaning that the maximum leverage limit on the opening of a position is set to be 30:1 for major currency pairs, and 20:1 for non-major currency pairs.
- Regulated broker
- MiFID, ESMA
- Czech support
- Fast execution
- Quality analysis
- Cyprus as country of origin
- No cryptocurrency
- The spread could be lower
CFDworld does not aim to launch trade revolution, yet it’s a reliable tool. The brokerage fees are not among the lowest on the market, but its amount should not be the only quality measure.