Overview of CFD World

CFD World is a Cyprus-based online forex and CFD broker that was founded in 2012. The broker is regulated by the CySEC (Cyprus Securities and Exchange Commission) and offers a wide range of tradable assets, including forex, indices, commodities, and cryptocurrencies. CFD World also offers a variety of account types, including a standard account and an Islamic account.

CFD World's minimum deposit is $100 and its maximum leverage is 1:500. The broker's spreads are variable and its trading platforms is MetaTrader 5. CFD World also offers a demo account so that you can practice trading without risking any real money.

CFD World's customer support is available 24/5 and the broker offers a variety of deposit and withdrawal methods, including bank transfer, credit/debit card, and e-wallets. CFD World also provides a variety of educational resources, including webinars, tutorials, and a glossary.

Pros and Cons

Pros:

• Regulated by the CySEC: CFD World is regulated by the CySEC, a reputable and stringent financial regulator in Cyprus. This provides a level of protection for traders, ensuring that CFD World adheres to fair and transparent practices.

• Wide range of tradable assets: CFD World offers a diverse selection of tradable assets, including forex, indices, commodities, and cryptocurrencies. This caters to a wide range of trading interests and strategies.

• Standard and Islamic account types: CFD World offers both standard and Islamic account types, catering to different religious requirements. This demonstrates their inclusivity and adaptability.

• Demo account available: CFD World provides a demo account, allowing traders to practice and familiarize themselves with the trading platform and CFD trading without risking real money. This is beneficial for beginners and experienced traders alike.

• Variety of deposit and withdrawal methods: CFD World offers a variety of convenient deposit and withdrawal methods, including bank transfer, credit/debit card, and e-wallets. This flexibility accommodates different preferences and accessibility.

• Educational resources available: CFD World provides educational resources, such as webinars, tutorials, and a glossary, to help traders enhance their knowledge and skills. This commitment to trader education is commendable.

Cons:

• Variable spreads: CFD World's spreads are variable, which means they can fluctuate depending on market conditions. This can impact profitability, especially for short-term traders.

• Maximum leverage of 1:500: CFD World offers maximum leverage of 1:500, which can magnify both profits and losses. While leverage can amplify gains, it also amplifies risks, making it suitable for experienced traders with a high risk tolerance.

• Customer support is not available 24/7: CFD World's customer support is not available 24/7, which could limit assistance for traders in different time zones or during emergency situations.

• No negative balance protection: CFD World does not offer negative balance protection, which means traders could potentially lose more than their initial deposit. This is a significant risk factor.

• Limited educational resources: While CFD World provides some educational resources, the scope and depth could be expanded to cater to a wider range of trading needs and experience levels.

Regulatory Status

CFD World is regulated by the CySEC (Cyprus Securities and Exchange Commission). CySEC is the financial regulator for Cyprus and is responsible for overseeing the activities of all financial institutions in the country. The CySEC is a member of the European Securities and Markets Authority (ESMA) and is committed to ensuring that all financial institutions operate in a fair, transparent, and accountable manner.

Market Instruments

CFD World offers a wide range of products to its clients, including:

• Forex: CFD World offers forex trading on over 50 major, minor, and exotic currency pairs. This allows traders to speculate on the movement of global currencies.

• Indices: CFD World offers CFDs on over 20 major global indices, including the S&P 500, Dow Jones Industrial Average, and Nasdaq 100. This allows traders to speculate on the movement of major stock markets.

• Commodities: CFD World offers CFDs on a variety of commodities, including gold, silver, oil, and natural gas. This allows traders to speculate on the movement of commodity prices.

• Cryptocurrencies: CFD World offers CFDs on a variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple. This allows traders to speculate on the movement of cryptocurrency prices.

Account Types

CFD World offers two main account types, Standard and Islamic.

Standard Account

The Standard Account is the most basic account type offered by CFD World. It has a minimum deposit of $100 and a maximum leverage of 1:500 for Forex and 1:20 for other CFDs. This means that you can trade up to $50,000 with just a $100 deposit. The Standard Account also has variable spreads, which means that the difference between the buy and sell price can change depending on market conditions. The Standard Account is a good option for traders who are new to CFD trading or who are looking for a simple and flexible account type.Islamic Account

The Islamic Account is an interest-free account that complies with Islamic law. It has a minimum deposit of $100 and a maximum leverage of 1:500 for Forex and 1:20 for other CFDs. The Islamic Account does not charge any rollover fees, which are fees that are charged when a position is held overnight. The Islamic Account is a good option for traders who are Muslim and who are looking for an account that complies with Islamic law.

In addition to the Standard and Islamic Accounts, CFD World also offers a Demo Account. The Demo Account allows traders to practice trading without risking any real money. The Demo Account is a good option for traders who are new to CFD trading or who want to test out a new trading strategy.

How to Open an Account？

Opening an account with CFD World is a straightforward process that can be completed in just a few minutes. Here's a step-by-step guide:

1. Visit the CFD World website: Navigate to the official CFD World website and click on the “Open Account” button.

2. Complete the registration form: Enter your personal information, including your full name, email address, phone number, and country of residence. Create a strong password for your account.

3. Verify your identity: Upload a copy of your government-issued ID, such as a passport or driver's license. This is necessary to verify your identity and comply with anti-money laundering regulations.

4. Choose an account type: Select the type of account that suits your trading needs. CFD World offers two main account types: Standard and Islamic.

5. Fund your account: Once your account is approved, you can fund it using one of the available methods, such as bank transfer, credit/debit card, or e-wallet. The minimum deposit is $100.

6. Download the trading platform: CFD World offers the MetaTrader 5 (MT5) trading platform, which is available for download on desktop and mobile devices. Install the platform and log in using your CFD World account credentials.

7. Start trading: You're now ready to start trading CFDs on a wide range of assets, including forex, indices, commodities, and cryptocurrencies. Familiarize yourself with the MT5 platform and practice using the demo account before risking real money.

Leverage

CFD World offers maximum leverage of up to 1:500 for Forex pairs and 1:20 for other CFDs. This means that you can trade up to $50,000 for every $100 you deposit in your account. For example, if you deposit $100, you can trade up to $50,000 worth of EUR/USD.

Leverage can amplify your profits, but it can also magnify your losses. It is important to remember that CFD trading is a risky activity and you could lose your entire deposit if you are not careful.

Here is a table summarizing the maximum leverage offered by CFD World for different asset classes:

Spreads & Commissions

CFD World offers variable spreads, which means that the difference between the buy and sell price can change depending on market conditions. The spreads for Forex pairs typically range from 3.4 pips to 4.4 pips. This is considered to be a high spread, and it is one of the reasons why CFD World is not recommended for beginner traders.

CFD World does not charge any commissions, but there are other fees that you may need to be aware of, such as rollover fees and swap fees. Rollover fees are charged when a position is held overnight, and swap fees are charged on certain positions, such as those that are held on weekends or holidays.

Here is a table summarizing the spreads and fees offered by CFD World:

Trading Platform

CFD World offers the MetaTrader 5 (MT5) trading platform, which is a popular and versatile platform that is used by traders around the world. MT5 is available for download on desktop and mobile devices, and it offers a wide range of features, including:

• A user-friendly interface: MT5 is easy to navigate and use, even for beginners.

• Advanced charting tools: MT5 provides a variety of charting tools that you can use to analyze market data.

• Technical indicators: MT5 includes a wide range of technical indicators that you can use to identify trading opportunities.

• Automated trading: MT5 supports automated trading, which allows you to develop and execute trading strategies without having to manually enter orders.Overall, MT5 is a powerful and versatile trading platform that is well-suited for CFD trading. It is a good choice for both beginners and experienced traders.

Overall, MT5 is a powerful and versatile trading platform that is well-suited for CFD trading. It is a good choice for both beginners and experienced traders.

Deposit & Withdrawal

CFD World offers a variety of payment methods for depositing and withdrawing funds. The specific methods available may vary depending on your region.

• Bank Transfer: Bank transfers are a secure and convenient way to deposit funds into your CFD World account. However, they can take several days to process.

• Credit/Debit Card: You can also deposit funds using your credit or debit card. This is a faster option than bank transfers, but you may be charged a processing fee.

• E-wallets: CFD World accepts several popular e-wallets, such as Skrill and Neteller. This is a convenient option for depositing funds from your e-wallet balance.

Fees

CFD World does not charge any fees for deposits or withdrawals. However, there may be fees charged by your bank or e-wallet provider.

Here is a table summarizing the payment methods and fees offered by CFD World:

Please note that these are just general guidelines, and the actual processing time for deposits and withdrawals may vary depending on your bank or e-wallet provider. It is important to check with your bank or e-wallet provider for their specific fees and processing times.

Customer Support

CFD World provides customer support to their clients through both phone and email. You can speak with a customer representative by calling +357 25349815. This over-the-phone support allows you to have a direct and prompt response to your queries.

They also provide support via email at info@cfdworld.com. This channel is useful for inquiries or issues that might require comprehensive explanations, attachments, or for those who prefer written communication.

Currently, there is no information available about the working hours of their customer support, their response times, or if they offer support in languages other than English. For more detailed information, it's recommended to contact CFD World directly.

Educational Resources

CFD World offers a variety of educational resources to help traders learn about CFD trading and improve their trading skills. These resources include:

• Webinars: CFD World offers a variety of webinars on a range of trading topics, such as technical analysis, fundamental analysis, and risk management. These webinars are led by experienced traders and are a great way to learn new strategies and techniques.

• Tutorials: CFD World offers a variety of tutorials on how to use the MetaTrader 5 trading platform. These tutorials cover everything from basic platform navigation to advanced charting and order execution.

• Glossary: CFD World offers a glossary of trading terms. This glossary is a helpful resource for learning the terminology of CFD trading.

In addition to these online resources, CFD World also offers one-on-one training with experienced CFD traders. This is a great way to get personalized guidance and feedback on your trading skills.

Overall, CFD World provides a wealth of educational resources to help traders learn about CFD trading and improve their trading skills. These resources are available to both beginners and experienced traders.

Conclusion

CFD World is a Cyprus-based online forex and CFD broker that offers a wide range of tradable assets, including forex, indices, commodities, and cryptocurrencies. The broker also offers a variety of account types, including a standard account and an Islamic account. CFD World offers a variety of educational resources to help traders learn about CFD trading and improve their trading skills. However, CFD World is not recommended for beginner traders due to its high spreads and lack of negative balance protection.

FAQs

Q: What are the benefits of trading with CFD World？

A: CFD World offers a wide range of tradable assets, competitive spreads, and a variety of account types to suit different trading needs.

Q: How do I open an account with CFD World？

A: You can open an account with CFD World by visiting the CFD World website and clicking on the “Open Account” button.

Q: What is the minimum deposit for a CFD World account？

A: The minimum deposit for a CFD World account is $100.

Q: Does CFD World offer demo accounts？

A: Yes, CFD World offers demo accounts that you can use to practice trading without risking any real money.

Q: What is the maximum leverage offered by CFD World？

A: The maximum leverage offered by CFD World is 1:500 for Forex pairs and 1:20 for other CFDs.

Q: What are the fees charged by CFD World？

A: CFD World does not charge any commissions, but there are other fees that you may need to be aware of, such as rollover fees and swap fees.

Q: What is customer support like at CFD World？

A: CFD World offers customer support via phone, email, and live chat.

Q: Is CFD World a good broker for beginner traders？

A: CFD World is not recommended for beginner traders due to its high spreads and lack of negative balance protection.