RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Cardiff Global Markets is an Australian forex and CFD broker, licensed by the Australian Securities and Investments Commission (ASIC) and offering a good selection of currency pairs, as well as CFDs on various assets, including precious metals, 13 world indices and oil on the MetaTrader4 platform.
Among the 49 forex pairs, we counted with the demo account, we came across a number of exotic currencies, including Chinese Yuan, Singapore Dollar, Honk Kong Dollar, Norwegian Krone, Swedish Krona, Turkish Lira, Mexican Peso and South African Rand.
Besides, gold and silver CFDs are traded both against the US dollar and the Australian dollar, while other spot metals include platinum and palladium.
Cardiff Global Markets trading conditions
The benchmark EURUSD spread, as tested with a demo account, floated about 1,2 pips, which is attractive, if the Demo account mirrors the Standard account. Have in mind that spreads are considered competitive only if they start below 1,5 pips.
Cardiff Global Markets offers leverage of up to 1:400, and this gives traders the opportunity to score decent profit with relatively low deposits. And after the European Securities and Markets Authority (ESMA) caped the maximum leverage allowed with forex transactions on the European market at 1:30, that leaves Australia one of the last major regulatory hubs, where leverage is not restricted.
As part of a broader effort to curb investment risks, the authorities in the US and Japan have already limited the maximum leverage allowed with forex trade to 1:50 and 1:25 respectively.
The minimum trading size with Cardiff Global Markets is 0,01 lot and that is quite convenient for traders, who follow strategies like Martingale, where a trader doubles his or hers position after each consecutive trade to cover any losses that have been incurred in the previous trade.
Cardiff Global Markets trading platforms
Cardiff Global Markets supports MetaTrader4 and that is a good news. This is probably one of the most refined trading platforms on the market, featuring, excellent charting tools, plenty of customizable market indicators and trading robots, with the help of which you can run automated trading sessions.
Cardiff Global Markets regulation & safety of funds
As we already noted Cardiff Global Markets is licensed and authorized by the Australian Securities and Investments Commission (ASIC), which is one of the most respected financial regulator in the industry, along with the Financial Conduct Authority (FCA) in the UK, the National Futures Association (NFA) in the US and the Cyprus Securities and Exchange Commission (CySEC).
All ASIC regulated brokers, for example, are obliged to follow strict financial and ethical rules, among which to file regular reports, to allow external audits and to maintain a minimum operational capital of at least 1 000 000 AUD in order to guarantee all outstanding payments to traders.
Another requirement is the support of a segregated, protected from creditors account, where all clients money are kept separately form the money of the broker.
The company behind Cardiff Global Markets is the Australian Cardiff Global Markets Pty Ltd.
Cardiff Global Markets deposit/withdrawal methods and fees
Cardiff Global Markets accepts payments with major credit and debit cards like VISA and MasterCard, as well a bank transfers. Unfortunately there is no information on the website if they accept payments with popular e-wallets like Neteller, Skrill and PayPal.
However, the good news here is that the broker do not have a minimum deposit requirement and basically you can open a Standard Account or a Pro Account with just 1 USD.
For the premium Cardiff Prime Account, however, the minimum deposit is 50 000USD.