CDG Global Reviews – Who Is Behind CDGGlobalFX.com?
CDG Global is an offshore subsidiary of a legitimate and regulated investment firm based in Cyprus. This makes things a little less straightforward than the usual question of whether it is a scam or not.
Usually, offshore brokers are scams that try to trick their potential victims into making a deposit, which they later will not be able to withdraw due to Ludacris minimum trade volumes required for withdrawal.
With this firm that may not be the case as they are just an offshore entity of an otherwise well-regulated trading firm. Clients should still be wary of using this broker and, if possible, should use the regulated Cypriot entity.
|Address||Saint Vincent and the Grenadines|
Is CDG Global a Legit Broker? Regulation and Fund Security
In terms of CDG Global itself, they hold no legitimate licenses and are not regulated at all. This makes them a dangerous broker to invest with due to the fact that they are not required to comply with basically any rules set out by regulators. These rules are put in place to protect traders and their interests.
When a firm is completely unregulated, there is no guarantee that the trader will even be able to withdraw their funds once they make a deposit. It is in all traders’ best interest to exclusively trade with legitimately regulated Investment firms as they are forced to comply with standards set by regulators in order to keep their licenses.
Traders should search for brokers licensed by the following tier-one regulators in order to be safe Cysec, BaFIN, FCA, or ASIC.
Overview of the CDG Global Trading Platform
Shockingly enough for what is a scam broker, CDG Global has made the industry favorite MetaTrader4-5 available for its users. This means that clients of this brokerage can enjoy the diverse set of tools and nearly endless customization capabilities afforded by this trading platform.
It is relatively rare to see an offshore broker that utilizes an industry-standard trading platform rather than creating some half-baked web trader themselves.
With MetaTrader4-5, clients of this brokerage have every tool necessary to make quality decisions about their trades. This platform also allows traders to tailor it to their personal trading style.
CDG Global Deposit and Withdrawal Methods
A major issue arises when a potential client tries to deposit their $50 minimum for the standard account.
The lowest amount that CDG Global accepts is $100, not the $50 that they advertise on their accounts page. This large discrepancy is a red flag that users should not ignore as it indicates the broker’s less-than-favorable attitude towards their clients.
It is in line with the discrepancy we see when looking at available deposit methods. The broker claims that they accept payments via :
- Bank Transfer
- Credit Cards
- E-Wallets: Alipay, Neteller, Skrill, NganLuong, Help2Pay, PayTrust88, and FasaPay.
When users come to the deposit page tho, the choices that they are presented are severely limited to:
- Bank Transfer
Another issue is revealed with the withdrawals, that being that the broker states that there is no charge for the first 3 withdrawals but does not go on to say what the charge will be for the withdrawals that come after that. Additionally, there is a $20 fee for making a withdrawal prior to making trades.
Trading Account Available at CDG Global
CDG Global offers 5 different account types:
- Standard account
- Islamic account
- ECN Platinum account
- ECN Diamond account
- ECN Gold account
Obviously, the different account types come with a variety of minimum investments, ranging all the way from the supposed $50 for the Standard account to a whopping $50 000 for an ECN Diamond account.
It should be noted that the maximum leverage allowed for a Diamond account is significantly lower sitting at 1:200 than the leverage allowed for a Standard account at 1:1000.
Clients of CDG can choose between these account types even though there is not a large enough difference to set them apart from one another outside of the minimum deposits that they require.
How Do These Broker Trading Scams Work?
Investment scams have a blueprint that they work off of. The process is as such: Find victims over social media ads, show them a get-rich-quick scheme in exchange for contact information such as email, and continue to sweeten the offer until they give in and make a deposit.
At this point, the scammers have you exactly where they want you, with your money tied up and no way for you to withdraw even the deposit. All too often, scam brokers set up minimum trade volumes that are basically impossible to reach as a prerequisite for making a withdrawal.
All this full-well knowing that very few people will ever reach this, thus making a withdrawal of funds impossible. In order to avoid investment scams you should check that the broker you’re looking at investing with is regulated by a tier-one regulator and does not have any active warnings out against them.
CDG Global Summary
All in all, CDG Global is a far cry from a quality broker, with a list of red flags like the one outlined above traders would do well to stay far away from this investment firm.
Some of the main issues that we see with this broker are the large discrepancies on their website from what they say they offer to what they actually offer. This is most obvious with the stated minimum deposit of $50 and the real minimum deposit of $100.
These discrepancies continue on to the accepted payment methods as well with the real list of accepted payment methods being far shorter than what they claim.
This broker may be attached to a licensed and regulated trading firm but it is clear that the offshore entity that is CDG Global is nowhere near being compliant with tier-one regulatory standards.
FAQs About CDG Global Broker
What Is The Minimum Deposit Amount at CDG Global?
The accounts page on the CDG Global website states that the minimum deposit is $50. However, when trying to make a deposit the minimum amount allowed is $100.
What Are Account Types Available at CDG Global?
CDG Global has the following account options: Standard account, Islamic account, ECN Platinum account, ECN Diamond account, and ECN Gold account.
What Kind of Trading Platforms Does CDG Global Offer?
This broker has made the industry standard MetaTrader4-5 available for its users.