You’re probably having doubts as to whether you should trust CDG Global brokers. Or, you may have read complaints about this company and decided to do some research.
We did the job for you and presented the facts in the CDG Global Review. Read it carefully to get familiar with the controversy surrounding this company.
We also want to invite you to read updated Eurivex, BizzTrade and InvestCore scam broker reviews. For those unaware, their investment offers are too good to be true!
|Broker Status:||Offshore Scam Broker|
|Broker Regulation:||Unlicensed Forex Provider / No Regulation|
|Operating Status:||Active Forex Trading Scam|
|Blacklisted as a Scam by:||The Financial Commission, SC|
|Broker Owner:||CDG Global LLC|
|Trading Platforms:||MT4 & MT5|
|Minimum Deposit:||50 USD|
|Crypto Trading:||Available – BTC, ETH & LTC|
|CFD Trading:||Yes, you can trade CFDs|
|Trading Instruments:||Forex, Crypto, Indices, Shares, Commodities|
|Demo Account:||No, only live trading accounts|
|Accepts US Clients:||US traders are not accepted|
|Global Fraud Protection Team:||Don’t Invest in This Scam Broker!|
Is CDG Global a Broker With a License?
CDG Global (https://cdgglobalfx.com/en/) is an offshore broker allegedly from Saint Vincent and the Grenadines (SVG). But, it seems that the company that runs this business – CDG Global LLC, isn’t registered with the SVG FSA.
Moreover, on the CDG Global regulation, the company is registered with CySEC, the Cypriot regulator, which implements the EEA zone rules imposed by the European Securities and Markets Authority (ESMA).
However, CySEC approves just one domain of CDG Global – www.cdgglobal.eu. That’s not the one we’re covering in this review. Everything seems to be regular with the .eu domain.
One more thing to stress is that CDG Global used to be registered with the Australian regulator ASIC. On November 18, 2018, the company was deregistered.
It seems that ASIC knew something fishy was going on with this dubious company. Losing a Tier 1 license like this is a pretty bad look for the CDG Global brand.
To sum up, the .eu domain of the broker is legit since it is regulated by CySEC but the other website, the unregulated one, has elicited numerous complaints from clients, mostly from Asia. In its defense, the broker had some words. Whether it’s true or not, we don’t know but we still wouldn’t trust this one.
CDG Global is a controversial entity that was once registered with ASIC and now only with CySEC. We found numerous complaints against the broker that scammed traders from India, Malaysia, Vietnam, Indonesia, and Australia.
Warnings From Financial Authorities
There are two warnings against this alleged scammer. One is from the independent Financial Commission, which carries less weight than a warning issued by a governmental institution.
The other, however, is from the Malaysian Securities Commission (SC). It was issued on February 28, 2022.
Where Is CDG Global Trading Broker Active?
As mentioned, CDG Global mainly targets traders from Asia and Australia. Here’s a list of countries where the scammer left traces:
Only the Malaysian regulator has issued an official warning against CDG Global. We hope the reviews on this topic prompt other regulators to recognize the threat and react accordingly.
Reviews of CDG Global – Traders Share Their Experience
The traders are the victims here so they are the ones who will spark the revolt against CDG Global. We’re not limiting ourselves to Trustpilot here. We checked some more sites as well in search of reviews and comments. Here are some we found that may be useful:
I have placed a withdraw 1 month ago the money is not in my account via crypto and support keeps saying that i will receive it soon… Better brokers on market…
Trustpilot user, September 28, 2021.
Trading for 3 months profits has been canceled, cannot withdraw money with unsubstantiated allegations and silent customer service does not help solve the problem.
ForexPeaceArmy user, June 20, 2022.
Trading for 3 months profits has been canceled, cannot withdraw money with unsubstantiated allegations and silent customer service does not help solve the problem…
WikiFX user, February 20, 2023.
What You Need to Know About CDG Global’s Trading Platform
CDG Global claims to offer two world-class trading platforms – Meta Trader 4 & Meta Trader 5. Both platforms have cutting-edge tools and advanced trading features in store.
Traders can utilize algorithmic trading, branch optimization, API integration, live market reports, etc, instant execution, etc. Just be careful with the platforms due to the warnings and complaints we listed.
Mobile and Tablet Trading Platform
It’s available. You can download both the MT4 & MT5 platforms on your mobile or tablet. The software is supported by Android and iOS and has a web-based version.
CDG Global explicitly “instructs” you to download it from the official AppStore rather than from a third-party link.
What Can You Trade With a Broker?
Here’s an overview of the available trading assets with examples:
- Forex pairs – EUR/USD, GBP/SEK, NZD/CAD…
- Commodities – gold, coffee, crude oil…
- Indices – DE30, FTSE50, EU50…
- Shares – Adidas, Boeing, Disney…
- Crypto – BTC, ETH & LTC.
Fees and Spreads Overview
Despite advertising ultra-low spreads, CDG Global offers 3 pips, double the industry’s standard. That’s pretty wide and uncompetitive.
The broker charges a 10 $ commission per round turn lot on ECN accounts. Legit broker charge just as much. However, this amount won’t make trading profitable unless the spread is close to zero.
Trading Accounts Comparison – What’s the Difference?
Here’s a quick overview of the CDG Global trading accounts:
- Standard – 50 $;
- ECN Gold – 500 $;
- ECN Platinum – 20,000 $;
- ECN Diamond – 50,000 $;
- Islamic – 50 $.
The leverage ranges from 1:200 to 1:1000 depending on the account type. This is another violation of ESMA rules. The leverage cap in the UK, Australia and the EEA zone is 1:30 for retail clients. High leverage equals huge risk.
CDG Global Demo Account – Can I Trade For Free?
CDG Global does offer a free demo account. However, upon trying to create one, an error popped up. Guess we won’t be trading for free after all.
This could be another cunning trick by the shady provider. It forces you to invest right away and potentially lose your money to the scam.
Withdrawing Profits From Your Broker Account
Let’s look at the deposit and withdrawal procedures. The minimum deposit is 50 $. According to the website, CDG Global accepts three types of funding:
- Credit/debit cards;
- Wire transfers;
- E-wallets (Skrill, Neteller, FasaPay…).
The CDG Global withdrawal process is allegedly fee-free for the first three withdrawals. Yet, clients complained about having withdrawal issues.
Should you request a refund from CDG Global, you will be charged a 200 $ “research fee” and another 200 $ “administrative fee” if your request gets denied. Thus, you’ll need professional assistance on this one.
I Have Issues With CDG Global, What Should I Do?
Withdrawal issues are an indication that you’ve already been scammed. It seems you’re not the only victim of CDG Global scam.
Global Fraud Protection learned about other unfortunate cases as well. So, it’s our duty to try to help you get your money back. Our team of experts specializes in bank chargebacks and crypto tracing tools such as CipherTrace.
If this broker steals your money, start the chargeback procedure. Use Online Chat to book a free consultation with us. It’s the fastest and easiest way!
All In All, Don’t Let the Scammers Get Away for Free!
Is CDG Global a Legit Broker and Should I Invest In It?
The SVG branch of CDG Global isn’t safe. Don’t invest. If you already did, call us to see how you could get your hard-earned money back.
Does CDG Global Offer a Demo Account?
The broker claims to offer a demo account. But, if you try to create it, an error appears.
Does CDG Global Have a Mobile Trading App?
Yes. CDG Global offers a mobile trading app for both MT4 and MT5.
Are My Funds Safe With CDG Global?
No. The offshore broker has been blacklisted after numerous client complaints.
The views and opinions expressed in these articles are those of the source ForexIndustry.com and do not necessarily reflect the official position of ‘Fox on Law,’ which shall not be held liable for any inaccuracies presented. The information provided within this article is for general informational purposes only. While we try to keep the information up-to-date and correct, there are no representations or warranties, express or implied, about the completeness, accuracy, reliability, suitability or availability of the information in this article for any purpose.
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