Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
CF Merchants Pros & Cons
- More than 10 years of providing brokerage services;
- Minimum deposit is $50;
- Leverage is up to 1:1000;
- Scalping and hedging are allowed;
- Spreads are from 0 pips on ECN accounts;
- Availability of partnership and bonus programs;
- Access to passive income services.
- Standard accounts have higher spreads as compared to other Forex brokers;
- No official licenses for the provision of brokerage and investment services;
- Trading CFDs on stocks is not available.
TU Expert Verdict
CF Merchants carries a higher degree of risk. My review and user feedback point to noticeable performance issues and limitations. It may be appropriate only for experienced traders who fully understand the risks and are prepared for potential instability.
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CF Merchants User Reviews
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria6 /10The trading and non-trading commissions of CF Merchants have been analyzed and rated as having Medium fees, with a fees score of 6/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- Deposit fee applies
- Withdrawal fee applies
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Is CF Merchants Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria4.2 /10CF Merchants has a safety score of 4.2/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Is regulated
- Negative balance protection
- Not tier-1 regulated
- Track record of less than 8 years
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Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.3.3 /10CF Merchants offers the following account options: Demo, Standard, ECN/Raw spread, Swap Free.
However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.
- Low minimum deposit
- Standard account with balanced trading conditions
- Swap Free (Islamic) account
- No Cent account
- Micro lots are not available
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology4 /10CF Merchants received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria6.3 /10CF Merchants offers a limited selection of trading assets compared to the market average. The platform supports 0 assets in total, including 62 Forex pairs.
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Trading Account Opening
We successfully registered an account with CF Merchants in 7 minutes. The KYC verification was completed within 1 business day. The minimum deposit amount at CF Merchants is $50.Score:We evaluated Trading Account Opening at CF Merchants by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.10 /10This is one of the most accessible and hassle-free onboarding procedures on the market.
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Customer Support
Score:We evaluated Customer Support at CF Merchants by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria5 /10
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FAQs
What does the CF Merchants regulation and safety score indicate about its overall security level?
CF Merchants has a safety score of 4.2/10, which corresponds to a Low security level in this review. It is regulated by the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA), a Tier-3 regulator, and offers negative balance protection and KYC verification, but it is not Tier-1 regulated and has a track record of less than 8 years, which may increase risks compared with brokers that have stronger regulation and longer histories.
How are CF Merchants trading commissions and non-trading fees structured?
CF Merchants is assessed as having Medium overall fees, with low forex trading fees, tight EUR/USD spreads on Standard accounts (typically 0.2–0.4 pips), and ECN accounts that combine low average spreads (around 0.10 pips on EUR/USD) with a $3 commission per lot. There are no inactivity fees, but deposit and withdrawal fees of 0–0.5% may apply depending on the transaction.
What types of trading accounts are available at CF Merchants and how do their conditions differ?
CF Merchants offers Pro, Prime, and ECN accounts, along with demo and swap-free (Islamic) options, but does not provide Cent, Micro, VIP, or managed accounts. Minimum deposits range from $50 on Pro to $5,000 on ECN, with leverage up to 1:500 on Pro and Prime and up to 1:1000 on ECN, while spreads start from 1.6 pips on Pro, 1 pip on Prime, and 0 pips on ECN (with a $7 fee per lot on ECN).
What do reviews say about CF Merchants deposit and withdrawal methods and limits?
According to the section on deposits and withdrawals, CF Merchants supports a limited set of funding methods, including bank wire, BTC, and USDT, and does not offer bank cards or popular e-wallets mentioned in the comparison. The minimum deposit is $50 and the minimum withdrawal is $20, with deposit and withdrawal fees applying in some cases, which may affect overall transaction costs; more specific user reviews or comments are not provided in this section.
What feedback is available on CF Merchants customer support channels and responsiveness?
Based on available feedback in this section, CF Merchants provides 24/5 support via live chat, email, Telegram, WhatsApp, Skype, and a website feedback form, but response speed and service quality can vary. Live chat is described as slow at times and some emails are reportedly ignored, while other requests are handled more efficiently depending on their complexity.
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