CGFX Review
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Fast Facts
Contact Info and Support
Suite 305, Griffith Corporate Centre, Beachmont Kingstown, St. Vincent & the Grenadines
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About CGFX
CGFX has been rebranded as CG Invest. The official website identifies cginvest.com as the redesigned website and states that CG Global Ltd, Mauritius, operates the website under Investment Dealer Licence GB22200249. It also lists CG Global Financial Services L.L.C. as authorised by the UAE Securities and Commodities Authority under licence 20200000250.
The official website lists Forex, metals, shares, indices and commodities, with MetaTrader 5, a proprietary mobile application, web trading and social trading. It presents three accounts: CG Plus with a USD 50 minimum deposit, spreads from 1.0 pips and no commission; CG Pro with a USD 250 minimum deposit, spreads from 0.6 pips and a USD 5-per-lot commission; and CG Prime with a USD 1,000 minimum deposit, raw spreads from 0.0 pips and a USD 3-per-lot commission. The website advertises leverage of up to 1:1000 and swap-free accounts.
The website identifies Commercial Group Financial Markets Limited in Saint Vincent and the Grenadines under registration number 24996 IBC 2018. The Saint Vincent and the Grenadines Financial Services Authority states in its February 3, 2022 notice that forex trading and brokerage activities are not licensed in that jurisdiction. Therefore, registration number 24996 IBC 2018 should not be described as a Saint Vincent and the Grenadines forex licence. The official website also states that CG Invest does not provide services to residents of the United States, China, Iran or North Korea.
Pros and cons
Pros
- Access to Forex, metals, shares, indices and commodities.
- MetaTrader 5, web trading, mobile trading and social trading are listed on the official website.
- Three account structures are published with stated minimum deposits, spreads and commissions.
- Swap-free accounts are available according to the official website.
Cons
- The Saint Vincent and the Grenadines registration number
24996 IBC 2018is not a forex-broker licence under the SVG FSA notice. - The official website excludes residents of the United States, China, Iran and North Korea.
- The website states that the CGFX brand has been replaced by CG Invest, which may require clients to verify the contracting entity and website before opening an account.
