Cedar Finance is a binary options broker that is based out of Cyprus and is operated by a company known as T.B.S.F Best Strategy Finance LTD. They offer a web-based trading platform that allows investors of any experience level to make money trading binary options such as commodities, indices, stocks, and currencies. But is Cedar Finance just another scam or a reputable broker that you can rely on? Continue reading this review to find out!
Basic Cedar Finance Information
Website Homepage: http://www.cedarfinance.com
Website Launched: August 2011
Account Currencies: USD, EUR, AUD, GBP, CAD, NZD, JPY
Traderush Minimum Deposit: $200 (or 20,000 JPY)
Mobile Trading Platform: Yes – iPhone & Android
Free Demo Account: Yes
Accepting US Traders: Yes
Traderush Deposit Bonus: Yes – Up To 100%
Cedar Finance uses a web-based platform that is built on the Tradologic technology. They offer traders several different trade types including Digital, Touch, Range, and Turbo. The user interface is clean and easy to navigate with separate tabs for each of the different trade types they offer. Once you click on a particular trade type, you’ll see a list of assets displayed underneath that show the expiry time, market price, and payout for each asset.
You can start trading with just a couple clicks of the mouse. All you have to do is select your asset, select an expiry time, enter your investment amount, and click CALL or PUT. If you predict the price of the asset will increase, then click on CALL. If you predict the price will decrease, then click on PUT. And that’s all you need to do to start trading on the Cedar Finance platform.
The Tradologic platform that Cedar Finance uses doesn’t have quite as many trade types available as brokers that use the SpotOption platform. They have your standard Call/Put trades which are also available in the 60 second and Touch trade types. 60 Seconds is basically the same as the Digital trade, except that the expiry times are just 60 seconds. The Touch trade type is their high-yield option with payouts that can exceed 300% profit. These Call/Put trades should satisfy the needs of most traders.
And lastly, there’s the Range trade type. The way this trade type works is that you have to predict whether an asset will finish between a predetermined price range that is set by the broker.
Cedar Finance also offers a couple other features to make trades more interesting such as Rollover and Sell Early. The Rollover feature allows you to extend your expiry time and give yourself a better chance of winning the trade in case the market isn’t going as well as you hoped. Sell Early allows you to sell your option back to Cedar Finance before the expiry time.
In terms of the assets, Cedar Finance clearly understands the importance of having a diverse portfolio. They have all the major asset classes available including 22 Indices, 11 Commodities, 13 Currencies, and 108 Stocks. They have more commodities and stocks available to trade than most binary option brokers, and an impressive selection of indices as well.
Payouts and Return Rates
You can expect a payout of around 81% for your standard Call/Put trades that end “in the money”. The Touch trade is their high-yield trade, which can offer payouts exceeding 500%. Cedar Finance also offers traders a 0-10% refund percentage on losing trades, depending on the asset and trade type.
Bonuses and Account Types
Cedar Finance offers 4 different account types that you can choose from when opening an account. Your Bronze, Silver, and Gold accounts come with 1, 3, and 5 risk-free trades, so your initial trades are protected from loss. And below you can see the first-time deposit bonuses they offer for each account type.
- Starter Account ($200-499 Deposit) – 30% Bonus
- Bronze Account ($500-999 Deposit) – 50% Bonus
- Silver Account ($1,000-4999 Deposit) – 75% Bonus
- Gold Account ($5,000-9,999 Deposit) – 100% Bonus
Although you don’t need to deposit money to open an account with Cedar Finance, you do have to make a deposit before you can start trading. Right now they are accepting credit card, wire transfers, skrill, and ideal for deposit methods. Their minimum deposit to start trading is $200 and they accept USD, EUR, and GBP currencies to fund the account.
Cedar Finance offers the same methods for withdrawals as they do with deposits: credit cards, wire transfers, Skrill, and iDeal. Their withdrawals take anywhere from 1-5 days before the funds are disbursed into your account. The minimum withdrawal amount is $200, and there is a $25 fee for wire transfer withdrawals for amounts under $500.
In our opinion, Cedar Finance is a broker that should be near the top of your list. The platform is very easy-to-use and gives you plenty of options with over 150 assets to trade and 4 different trade types to work with. This company currently accepts clients from the U.S. and is currently licensed and regulated, so you can be certain that your money is safe with them. The only downsides to using Cedar Finance is that they don’t currently offer mobile trading and no demo accounts are currently available. Overall, a pretty solid platform that is worthy of heavy consideration.
Cedar Finance Review Rating = 8/10 = Good