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CFI Markets Review
CFI Markets is a broker that provides forex trading services. They provide traders with access to a wide range of assets in a number of markets, including currencies, indices, and commodities.
- Regulated by Financial Conduct Autority, CySEC, BaFIN
- Established in 2012
- Segregates client funds
- Min. deposit from $100
- Inactivity Fee
- Limited range of instruments
- Doesn’t offer VPS (See alternatives)
- Not ASIC Regulated (See alternatives)
A minimum deposit of $100 is required to establish a live account. Alternatively, CFI Markets has a demo account that you may use to experiment and become acquainted with their platform.
Regulated by The Financial Conduct Authority in the United Kingdom (FRN: 602588) and CySEC (Licence: 179/12), CFI Markets places all customer funds in segregated bank accounts with tier-1 institutions. CFI Markets has been in operation since 2012, with its headquarters in Cyprus.
While we show you the specifics of CFI Markets’ spreads, fees, platforms, and trading tools, you may want to open their webpage in a new tab by clicking the button below to get the most up-to-date information straight from them.
Full disclosure: If you join up with a broker through one of our links, we may get a commission.
What are the spreads and fees at CFI Markets?
CFI Markets, like most brokers, charges a commission based on the spread, which is the difference between an item’s purchase and sell price.
The commissions and spreads displayed here are based on the minimum spreads listed on the CFI Markets website.
|Forex||CFI Markets||City Index||XTB|
|EUR/USD(Average: 0.7 pips)||0.0 pips||0.7 pips||0.1 pips|
|GBP/USD(Average: 1.1 pips)||0.0 pips||1.7 pips||0.1 pips|
|USD/JPY(Average: 1.1 pips)||0.0 pips||0.6 pips||0.1 pips|
|AUD/USD(Average: 0.8 pips)||0.2 pips||0.6 pips||0.2 pips|
|USD/CHF(Average: 2.3 pips)||0.2 pips||2.3 pips||0.2 pips|
|USD/CAD(Average: 2.9 pips)||0.2 pips||0.5 pips||0.3 pips|
|NZD/USD(Average: 3.6 pips)||0.2 pips||2.8 pips||0.3 pips|
|EUR/GBP(Average: 2.4 pips)||0.2 pips||0.5 pips||0.1 pips|
Spreads are changeable and are provided solely for informative reasons.
As you can see, the minimum spread for trading EUR/USD at CFI Markets is 0 pips, which is relatively low when compared to the average EUR/USD spread of 0.70 pips. The table below lists the costs of trading one lot of EUR/USD with CFI Markets to similar firms.
How much does it cost to trade 1 lot of EUR/USD with CFI Markets?
If you bought one standard lot of EUR/USD (100,000 units) with CFI Markets at 1.1719 and then sold it the next day at the same price, you would most likely pay $0. Here is a general analysis of the fees and how they compare to IG and XTB.
|Spread from:||$ 0.00||$ 6.00||$ 2.00|
|Total cost of a 100k trade:||$ 2.00*||$ 6.00||$ 2.00|
|$4 more||$0 more|
|VISIT CFI MARKETS||VISIT IG||VISIT XTB|
*commission is charged based on volume
All fees/prices are for informational purposes and are subject to change.
What can you trade using CFI Markets?
CFI Markets provides over 7000 different trading products, including over 27 currency pairings. We’ve reviewed all of the numerous types of instruments offered by CFI Markets below, along with comparative instruments from IG and XTB.
|FX / Currencies||CFI Markets||IG||XTB|
|# of forex pairs offered||40||90||48|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|Commodity CFDs||CFI Markets||IG||XTB|
|# of commodities offered||6||34||21|
|Index & Stock CFDs||CFI Markets||IG||XTB|
|# of stocks offered||6000+||8000||1606|
|SEE CFI MARKETS’S INSTRUMENTS||SEE IG’S INSTRUMENTS||SEE XTB’S INSTRUMENTS|
What’s the CFI Markets trading experience like?
1) Platforms and apps
CFI Markets provides the well-known MT4 forex trading platform. See our MT4 broker review for a list of the best MT4 brokers. Traders may trade with their preferred device thanks to the mix of downloading platforms for both Mac and Windows.
They now provide mobile apps for Android and iOS, making it easy to monitor and execute transactions while on the go.
2) Executing Trades
CFI Markets allows you to conduct a 0.01 Lot deal. This may differ based on the type of account you establish. The maximum trading requirements differ based on the trader and the instrument. Because they provide STP execution, you may anticipate narrower spreads and greater transparency in the amount you pay to execute your transactions.
CFI Markets may have fewer entrance criteria as a market maker than an ECN broker, who benefits from a higher number of transactions and usually has higher capital and minimum trading requirements. Market makers generally have a lower minimum deposit, lower minimum trade requirements, and no trading commission.
Margin requirements, like those of other brokers, vary based on the trader, account, and instrument. The most recent margin requirements may be seen on their website.
Finally, we’ve included a list of some of the most common funding options available to CFI Markets traders below.
- Offers STP
- Low min deposit
- Allows scalping
- Allows hedging
- Islamic account
- Demo account
- Mini account
- Standard account
- Credit cards
- Bank Transfer
3) Client support
CFI Markets support a limited number of languages, including English.
4) What you’ll need to open an account with CFI Markets
Because CFI Markets is regulated by the Financial Conduct Authority, CySEC, and BaFIN, every new customer must go through a few simple compliance checks to verify that you know the implications of trading and are permitted to trade. When you open an account, you will most likely be asked for the following information, so keep it handy:
- A scanned colour copy of your passport, driving license or national ID
- A utility bill or bank statement from the past three months showing your address
You’ll also need to complete a few basic compliance inquiries to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.
While you may be able to browse their platform immediately, it is essential to note that you will not be allowed to execute any transactions until you pass compliance, which may take several days depending on your circumstances.
To begin the process of creating an account with CFI Markets, go to their website.
79% of retail investor accounts lose money when trading CFDs with this provider.