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  • Cedar Finance

  • Bonus: Up to 75%
  • Options Payout: 65-75%
  • Rating: 1 / 10
Broker Name: Cedar Finance
Platform: Tradologic
Founded: 2011
Bonus: Up to 75%
Return/Refund: 65-75%/0-10%
No. Of Assests: 60
Regulated:   No
Demo Account: Yes
Minimum Deposit: 200
US Traders:   Not Accepted

Cedar Finance Review

Warning: Cyprus Watchdog Revokes License of P.M. Investment Capital (Holding Company)
Update 18/11/2015 – Cedar Finance Shuts Down Operation
 

Editor’s Note – Why does CedarFinance Suck?

The first thing I checked was also the first one that sucked (even more followed): at first glance, their asset index is structured as usual, showing different tabs for each asset category, but what do you know, in the Currency tab I find Platinum and S&P Future, in the Indices section I find USD/RUB, EUR/GBP and in the Commodities tab I find Google and Apple. They do get right some of the assets, but it’s a total mess and I can’t help but wonder how they are keeping track of their clients’ accounts if they can’t even organize an Asset Index.

 

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Why CedarFinance doesn’t Suck?

They have a Daily Market review area which is up to date and pretty informative, unlike other brokers that forget for months to update their daily market analysis. A step by step .pdf document teaches me all about their platform and features and it also presents a brief history of Binary Options, but other than this, I can’t find anything worth mentioning.

 

 

Cedar Finance Full Review – Same Old, Same Old…

If I was to sum up everything about Cedar Finance in one word, that would be “boring”. They do absolutely nothing to stand up from the crowd. If I want to start trading Binary Options and I am looking for a broker, I can’t think of a single reason why I would choose them. Everything they write on their website has already been written countless times by other mediocre brokers and Cedar Finance comes with no innovation and a total lack of originality. They even use the stupid motto “We focus on what really counts. You” and they don’t even bother to use proper grammar; the correct form is “…WHO really counts…” but I guess they consider their clients just things. And they call themselves “a worldwide leader” also claiming that “Cedar Finance is the most professional and objective…” blah, blah but do nothing to prove it. Reality check: you are not the best just by thinking hard enough that you are, so put your money where your moth is and step up your game. Oh, I almost forgot: they are the only broker that offers 60 second trading and this tool is “unique to Cedar Finance”. Yea, indeed, I just heard about 60 seconds and I never saw them on any other platform…wow, is this how they are going to convince me to invest with them? Is this their best shot? Or maybe their hidden weapon is the payout which ranges between 65% and 75%…nope it can’t be because that is not so great. They use the SpotOption platform…well, there’s bunch of other brokers using the same platform. Customer support…could that be the reason why I would invest with them? Although the Live Chat representative was pretty helpful and polite (compared to other brokers), it’s just a drop in the ocean and I am not convinced… at all.

 

 

Is Cedar Finance a Scam?

Well, I wouldn’t go that far, because there’s nothing that can clearly make me believe that. After all, they can’t even organize their Asset Index and although I never scammed anybody, I guess planning a good scam requires some work and from the looks of things, Cedar Finance is struggling with operating a website. There are a lot of videos on Youtube, showing people that made money with Cedar Finance so easy that even a monkey can do it. Now, do you really believe that? If it was so easy, we would all be millionaires just by clicking Up or Down on our computer screens. Advertising is ok, but videos with actors claiming to be real successful traders…it’s just too much. I don’t know for sure if those guys are actors or not, but my opinion is formed: scam or not, I would go for one of the top brokers and forget all about these guys.

 

 

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CedarFinance Complaints

The internet is full of complaints and the most “popular” are withdrawal problems, not getting a call from the so called Account Manager, not receiving any promised training or not being informed about the fact that accepting a bonus will prevent you from withdrawing your own investment.

 

CedarFinance Bonus

Their bonus percentages range from 30 to 75% according to Customer Support and the trading volume needed in order to withdraw is 40 times the deposited amount + bonus amount. No matter what bonus you receive, to be required to trade 40 times bonus + investment is really too high, but the cherry on top is that I cannot withdraw my own money if I accept even one Dollar bonus. Limiting my withdrawal possibilities regarding the Bonus is one thing, but not allowing me to withdraw MY money is outrageous.

 

CedarFinance Withdrawal

The minimum withdrawal amount is 200 USD/EUR/GBP, same as the minimum deposit and the always present problem arises again: what if I deposit $200, lose a trade and then decide to withdraw…I can’t. It’s really bothering that brokers can impose such conditions and people still invest with them.

 

CedarFinance Extras

Maybe the market analysis could be considered and extra or the fact that they offer Double Up and Roll Over tools, but really none of the above is impressing or unseen before.

 

 

 Cedar Finance Ratings

User Friendly 15/20

The platform used is SpotOption which is easy to use and pretty reliable from a technical point of view and overall the website has a simple layout, a fact which makes it easy for the trader to find what he is looking for. Three languages are supported: English, French and “Deutch”. I never heard of the last language, but I guess it’s another one of their mistakes and they meant to write “DeutSch”

 

Number of assets and expiry times 13/20

I encountered a problem when I tried to find out how many assets they have for each category because the Asset Index is all mixed up and one category contains more than one asset class. If they can’t do it right, I certainly won’t be fixing it for them so they get a big fat zero for the number of assets. The expiry times range from 60 seconds to 15 minutes, 30 minutes and one hour, with the possibility to use the Option Builder and One Touch Options.

 

Commissions, Support and Effective return 14/20

There are no commissions to open an account but you will have to pay 25 USD/EUR/GBP (depending on your account’s currency) if you want to withdraw via wire transfer. Customer Support is good compared to other brokers and the payout ranges from 65% to 75% according to their FAQ, although on the home page picture they advertise “up to 81%”

 

Deposit, Payment and Bonus 12/20

You can deposit by Credit Card, wire transfer or CashU. The minimum deposit is 200 USD/EUR/GBP. Withdrawals are processed within 3 business days and you will need to wait for another 5 to 7 days for the money to reach your account. The bonus ranges from 30% to 75% depending on the amount invested and the wager is 40 times deposit + bonus which is extremely high.

 

Website Extras 12/20

The market analysis can be considered an Extra feature and so do the Roll Over and Double up features. 60 seconds and Open Platform.

 

 

Cedar Finance Ratings 66/100

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