Table of Content
CDG Global Review – Find Out More About This Scam Broker
Table of Content
CDG Global LLC is in the business since 2003. For such established businesses they have a very shady reputation. It’s an offshore entity registered in St. Vincent and Grenadines (SVG). Many trading companies have developed their business there due to limited transparency options. That means that CDG Global doesn’t have any protections or guarantees for its customers.
SVG decided not to provide licenses for any trading company for those reasons. Therefore, companies should opt for a license in their operating countries. Not to jump to a conclusion we will do a detailed CDG Global broker review.
|Headquarters||St. Vincent and the Grenadines|
|Broker Type||FX Broker|
|Platforms||MetaTrader 4, MetaTrader 5|
|Spread||0.0 pips – 1.5 pips|
CDG Global Regulation and Fund Security
As mentioned, CDG Global broker should look for licenses outside of SVG. We always recommend the Tier 1 group. Regulators like FCA, BaFin, CONSOB or FSMA belong to that group.
Since FSASVG doesn’t provide licenses, we checked the Tier 1 regulators database. Unfortunately, we couldn’t find even a trace of CDG Global in those registers. Therefore, it is confirmed that this is just another line of offshore investment scams.
Even if we didn’t check regulations, some indications already existed. The leverage that goes up to 1:1000 is violating all EU regulations. Especially ones coming from European Securities and Markets Authority (ESMA). Where for retail traders maximum leverage allowed is 1:30.
Moreover, the broker should have at least 730k EUR in a segregated bank account to prove solvency. Besides, 20.000 EUR should be available as a compensation fund per client.
CDG Global Trading Platform Overview
As for the trading platform CDG Global trading company did its due diligence. Meta Trader 4 & 5 as the most trusted options are available with this broker. However, that doesn’t mean that the broker should be trusted.
For any functions, you need to log in with your CDG Global login credentials. Meta Trader gives access to some advanced features. Such as social or copy trading, advanced EAs, trading tools, and many more.
Important to realize is that both software is available for any device. It is an especially big deal for those that love to trade on a mobile device. Meta Trader is available for both iOS and Android devices. The key fact is that mobile apps don’t lose any functionality.
But if the broker is shady, such a trusted platform doesn’t have a valid purpose.
Available Account Types
CDG Global scam broker offers 5 different account types. Those are:
- Standard $50
- Islamic $50
- ECN Gold $500
- ECN Platinum $20.000
- ECN Diamond $50.000
All accounts have overnight swap fees except for an Islamic account. The main difference in the account types is leverage and commission. All ECN accounts have commission while Standard and Islamic don’t.
As for ECN accounts, the commission ranges from $4-10 per lot.
The disturbing fact is that all accounts have the option to be managed. At that point, you are giving your money in the trust of a broker. Without a license, these brokers are unsafe. That’s why regulated brokers will never give you such an option because it’s forbidden.
After all, FINACOM didn’t issue a warning against this broker without a reason.
CDG Global broker scam works on all 5 major instrument classes. Those are:
- Forex USD/JPY, EUR/NOK, AUD/NZD
- Indices BE20, Nikkei225, AU200
- Shares Coca-Cola, McDonald’s, Tesla
- Cryptos BTC, USDT, ADA
- Commodities platinum, cotton, natural gas
Some assets like cryptos are extremely volatile. In combination with high leverage, it is very dangerous. According to some CDG Global reviews, that’s exactly how people lost money. But losing money on the market is relatively normal. More than 75% of traders lose money. But if you are trading with a licensed broker you are protected.
Firstly, adequate education. Secondly, trading conditions comply with regulations. Thirdly, any profits you can withdraw at any time. This is not the case with CDG Global scam brokers.
Deposit and Withdrawal
At least with funding methods, CDG Global has very transparent options. Many of those are trusted. But keep in mind that this broker is not regulated.
Some of the funding methods are:
- Cards Visa
- E-payments, Neteller, Fasapay, Zotapay, Skrill, Alipay
- Crypto wallets, Bitcoin
- Wire transfers
The main reason that worries us about e-payment methods is that they are all in some foreign currencies. All methods take approximately the same processing time, with differences in fees. Moreover, the first three withdrawals in a month are free of charge. Every additional withdrawal has its fees.
Unfortunately, some CDG Global reviews indicate that withdrawals often don’t happen at all. Since they are not licensed, they can make up any additional reason why not to make a withdrawal happen.
I Was Scammed by CDG Global – How Can I Get My Money Back?
Another bizarre thing about this broker is a chargeback fee of $200. Obviously, they are expecting traders to request those. And it happens all the time. Our expert fund recovery team already dealt with this broker.
If you are scammed by CDG Global, let us know. You can request a full chargeback very shortly without any effort. Our team will assist you every step of the way. Depending on the funding method that you have used, you have to follow certain instructions.
Don’t bother having a headache over that, when you know that someone can do all that for you. Keep your money safe and don’t let these guys get out with it. Contact us today to get our full assistance in fund recovery!
FAQs About CDG Global Broker
Is CDG Global A Good Broker?
Even though we didn’t doubt it in the beginning, it is confirmed with multiple red flags. The lack of regulations and warnings is enough for it.
How Long Do CDG Global Withdrawals Take?
Some are processed instantly some in a couple of business days. But some CDG Global reviews say the contrary. That they don’t happen at all.
Does CDG Global Offer a Demo Account?
Yes. Unfortunately, access to a demo account was restricted due to a technical error.