Overview of CBF
CBF FINANCIAL SERVICES is a licensed institution regulated by the FCA in the UK. It offers market instruments like forward contracts, futures contracts, options contracts, and swaps, allowing clients to manage risks and speculate on future price movements. While caution is advised due to negative reviews indicating potential risks and scams, the company provides a variety of accounts, including Current, Savings, and Type C accounts, each with different features and benefits. CBF offers a maximum leverage of 1:500 on forex pairs and 1:200 on other products, with spreads varying based on the product. The minimum deposit requirement is $100, and deposits and withdrawals can be made through various methods, with a $5 withdrawal fee. The company's trading platform is Meta Trader 4, known for its user-friendly interface and extensive tools for market analysis. Customer support is available via phone and email.
Pros and Cons
CBF Financial Services offers a range of pros and cons for potential investors to consider. On the positive side, the company is regulated by the Financial Conduct Authority, providing a level of trust and oversight. Moreover, CBF provides various market instruments, giving clients options to diversify their investments. Additionally, the availability of different account types caters to diverse financial needs. The maximum leverage of 1:500 on forex pairs can be appealing to some traders seeking higher potential returns. The use of the widely recognized Meta Trader 4 trading platform further enhances the trading experience. Furthermore, certain Savings Accounts offer access to ATM. However, there are potential downsides to consider, such as negative field survey reviews and reports of being a clone firm. The current unavailability of the main website and limited customer support channels may be concerning for investors. Moreover, a $10 withdrawal fee and a minimum deposit requirement of $100 could impact potential users' decisions.
Is CBF Legit？
The Financial Conduct Authority (FCA) in the United Kingdom regulates the licensed institution Axi Financial Services (UK) Limited, license number 466201, which is a clone firm and operates under the market making (MM) license type. It is essential to exercise caution as there have been negative field survey reviews, indicating potential risks and the possibility of a scam associated with this institution.
Market Instruments
FORWARDS
CBF provides various forward contracts, such as FX forwards, interest rate forwards, and commodity forwards. These contracts allow clients to agree on buying or selling an asset at a predetermined price on a specified future date. For instance, businesses involved in international trade can utilize FX forwards to secure exchange rates and mitigate currency risks.
FUTURES
CBF offers futures contracts, including FX futures, interest rate futures, and commodity futures. Unlike forwards, futures are traded on exchanges. Investors, like hedge funds, can use these contracts to hedge their positions or speculate on future price movements. For instance, a fund expecting a decline in the stock market may employ S&P 500 futures to protect against potential losses.
OPTIONS
CBF provides options contracts, such as FX options, interest rate options, and commodity options. These contracts give the holder the right, but not the obligation, to buy or sell an asset at a predetermined price on a specified future date. Traders and investors can use options to implement various strategies, such as hedging or seeking profit from price movements. For instance, an investor optimistic about the future price of gold could purchase a gold call option.
SWAPS
CBF facilitates swaps contracts, including FX swaps, interest rate swaps, and commodity swaps. Swaps involve the exchange of payments between two parties, often to manage risks or alter cash flow structures. For example, a company with a variable-rate loan might engage in an interest rate swap to convert it into a fixed-rate loan, providing stability in interest expenses.
Pros and Cons
Account Types
CURRENT ACCOUNT
The Current Account offered by CBF is a basic account with no monthly fees. It comes with a linked savings account that offers a low interest rate. This account is designed for making payments and withdrawals and can be linked to a credit card or debit card.
SAVINGS ACCOUNT
CBF provides a range of Savings Accounts, each with different interest rates and features. Some of these accounts offer cashback benefits on everyday spending, providing an added incentive for account holders. Furthermore, certain Savings Accounts grant access to a network of ATMs. Additionally, select accounts may also come with overdraft facilities to provide financial options during unforeseen circumstances.
TYPE C ACCOUNT
The Type C Account offered by CBF is specifically tailored for holding funds on behalf of foreign creditors. Once the account is credited, the funds belong to the foreign creditor. This account allows for making payments and withdrawals, just like other account types, and can be linked to credit cards or debit cards for ease of use and wider financial management options.
Pros and Cons
Leverage
CBF offers a maximum leverage of 1:500 on forex pairs and 1:200 on other products. This means that for every $1 you deposit, you can trade up to $500 worth of forex pairs or $200 worth of other products.
Spreads & Commissions
CBF charges spreads on all of its trading products. The spreads vary depending on the product, but they are typically around 0.2 pips for forex pairs and 0.5% for stocks. CBF does not charge commissions on most of its trading products, but it does charge a commission of $10 per round turn on futures contracts.
Minimum Deposit
CBF has a minimum deposit requirement of $100.
Deposit & Withdrawal
CBF allows deposits and withdrawals via bank transfers, credit cards, and debit cards. There is no fee for depositing funds into a CBF account, but there is a fee of $5 for withdrawing funds. The minimum deposit amount is $100 and the maximum withdrawal amount per day is $10,000.
Trading Platforms
CBF offers the Meta Trader 4 trading platform, a widely recognized and popular platform in the financial industry. Meta Trader 4 provides traders with a user-friendly interface and a robust set of tools for executing trades and analyzing market data. With its intuitive design and extensive range of technical indicators, Meta Trader 4 enables clients to access real-time market information, execute orders, and manage their trading activities.
Customer Support
CBF offers customer support through the phone number +44 2031295420. For further inquiries and assistance, customers can also get in touch via email at info@cbfforex.com.
Conclusion
In conclusion, CBF Financial Services, based in the United Kingdom, provides a range of market instruments, including forwards, futures, options, and swaps. However, caution is advised, as the company operates as a clone firm under the market making license and has received negative field survey reviews, indicating potential risks and the possibility of a scam. CBF offers various account types, such as Current Accounts, Savings Accounts, and Type C Accounts, each with its advantages and features. The leverage offered by CBF is up to 1:500 on forex pairs and 1:200 on other products, while spreads and commissions vary depending on the product. The minimum deposit required is $100, and deposits and withdrawals can be made via bank transfers, credit cards, and debit cards. The trading platform provided is Meta Trader 4, known for its user-friendly interface and comprehensive tools. Customer support is available via phone and email. It is essential for potential clients to carefully consider the pros and cons and exercise due diligence when dealing with CBF Financial Services.
FAQs
Q: Is CBF Financial Services a legitimate company？
A: CBF Financial Services is regulated by the Financial Conduct Authority (FCA) in the United Kingdom under license number 466201. However, caution is advised due to negative field survey reviews indicating potential risks and scam possibilities associated with this institution.
Q: What market instruments does CBF offer？
A: CBF provides various market instruments, including forwards, futures, options, and swaps, such as FX forwards, interest rate futures, and commodity swaps.
Q: What types of accounts does CBF offer？
A: CBF offers Current Accounts, Savings Accounts with cashback benefits, and Type C Accounts designed for holding funds on behalf of foreign creditors.
Q: What is the maximum leverage offered by CBF？
A: CBF offers a maximum leverage of 1:500 on forex pairs and 1:200 on other products.
Q: What are the deposit and withdrawal options at CBF？
A: CBF allows deposits and withdrawals via bank transfers, credit cards, and debit cards. There is no deposit fee, but a $5 withdrawal fee applies.
Q: What trading platform does CBF provide？
A: CBF offers the Meta Trader 4 platform, known for its user-friendly interface and extensive tools for trading and market analysis.
Q: How can I contact CBF's customer support？
A: You can reach CBF's customer support via phone at +44 2031295420 or through email at info@cbfforex.com.
