Cedar Finance General Information
Cedar Finance Shutted Down their operation at 18/11/2015
Headquarters: Ioanni Stylianou 6, 2nd floor, Flat/Office 202, 2003, Nicosia, Cyprus.
Website: http://www.CedarFinance.com/ (Site is Down)
USA Traders: Yes
Available Assets: 60
Min. Deposit: $200
Min. Trade Size: $20
Max Trade Size: $1,000
Additional Features: Digital Options, Range Options and Touch Options.
Platform Provider: Tradologic
Languages: English, French, Arabic, Spanish, Deutsche.
Cedar Finance Broker Review
Cedar Finance was active for 4 years, from October 2011 until November 2015. The company was owned by P.M. Investment Capital Ltd and was located in Nicosia, Cyprus.
Cedar Finance used to be very popular in a few regions United States, Germany and the United Kingdom. The popular trading signal software Ultra Binary Trader integrates directly with Cedar’s trading platform.
What we wanted to figure out is whether there were any hints traders could have picked up before investing with Cedar Finance.
Where there any Pre-Signs that Cedar Finance are a scam Broker?
Well, it seems like there were many evidence for Cedar finance being a scam broker, especially after going over a few main Binary Options forums, we have noticed that many traders have been complaining way before this company closed down their business.
Here are Some of the frequent complains we have spotted which you should learn from in case you’re having the same issues current broker:
1. Withdrawals – Many traders complained their withdrawal request was rejected many times without any explanation, even after submitting all documentation it was still impossible to take money out from Cedar Finance.
2. Logout – Traders were mysteriously logged out from the trading platform frequently and were not able to trade normally.
3. “Trades could not be executed” – Many trades complained about getting this error message when having a few winning trades in a row. As you know timing is of the essence if you wish to be a profitable trader, with this broker it was very hard to maintain a winning trading strategy.
4. Market Rates – The market values on the Cedar platform were frequently freezing and incorrect rates was provided.
5. Support – According to many traders testimonials, it seems like it was quite easy to get a hold of Cedar Finance support team. However, once traders were able to create some profits, it was simply impossible to get anyone from this company.
What should you do next time?
There are 2 main things you should do before investing with any broker online:
- Never trade with an unregulated binary Options brokers – There is not to much to it, if you decide to trade with unregulated broker, don’t come back complaining!
- Check for bad reviews online – It is quite common to find some bad reviews on every online businesses, yet a decent company will always respond to them and will try to resolve them, be sure to check what kind of bad reviews you find and how do the company react to them.
For conclusion, it seems like Cedar finance was smartly designed as a rip off machine and that many signs were given for why not to trade with them before they have vanished. When trading binary options you will lose money at times as obviously it involves high risk, however, if the platform you are using simply isn’t honest and causing intentional losses simply Do Not use their software.
Wall Of Shame
Post a comment if you have had a bad experience with Cedar Finance.