If the online forex broker Cedar has flown under your radar up until now, you’ll likely be hearing the name crop up more often in the online trading sphere. In recent months, CedarFX has caused quite the revolutionary wave, introducing an all-new eco account option – the very first of its kind!
While the launch of the eco account has contributed to the broker’s exponentially growing popularity, there’s much more to the broker than meets the eye. In this article, we’ll take a look at the features offered by this brokered that have often been overlooked.
Before introducing a new account type, CedarFX’s thriving 0% Commission Account was the main player attracting clients to the platform. Being a no-frills broker, CedarFX devotes itself to helping their clients grow by providing the best available trading conditions. In addition, they offer no-cost transactions through their pioneering 0% Commission Account, freeing up client funds from excess fees and enabling them to use their full deposit to trade.
The CedarFX Eco Account combines the same features as the 0% Commission Account into a sustainable package. By adding a commission of just $1 to your account, you would be supporting CedarFX in their tree planting initiatives and funding of CO2 reduction projects. By partnering up with Ecologi, CedarFX became the first online broker to turn eco: for every $1 paid by clients, CedarFX contributes another $1 to plant a total of 10 trees per lot traded!
Apart from slashing all commission in the standard 0% Commission Account, CedarFX also offers ultra-low spreads to keep their clients’ trading costs to a bare minimum. As a trader, low spreads are one of the top features to look out for, as spreads play a central role in the profitability of your trades. Even a small difference in price could result in a significant difference in profit! Paired with low spreads, CedarFX also provides reliable order execution as an ECN/STP Broker. To ensure that the broker does what it says on the tin, you can even test out their platform through a free demo account. Solid order execution means that the spreads advertised by your broker are the same spreads that you’ll be trading on.
To make the most of your funds, CedarFX also gives traders the option to increase their leverage to up to 1:500. The maximum leverage settings vary according to the instrument you are trading. CedarFX offers 1:500 leverage for Forex and Metals, 1:200 leverage for indices and commodities, 1:100 leverage for all Cryptocurrency pairs and 1:20 leverage for stocks.