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.
CF Merchants is a Forex broker for trading currency pairs, cryptocurrencies, and CFDs [contract for (price) differences] on different assets. It has been providing its services since 2011. Quality service and fair pricing attract thousands of clients globally. Currently, traders from more than 120 countries work with the broker. CF (Commodity and Forex) Merchants Ltd has been internationally recognized as an industry leader more than once. For example, it received The Best ECN Broker award at the Forex Expo Dubai 2020 ceremony.
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.
Top-5 Brokers Traders Prefer
CF Merchants User Reviews
-
5-star
0%
-
4-star
0%
-
3-star
0%
-
2-star
50%
-
1-star
50%
-
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
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of CF Merchants with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, CF Merchants’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
CF Merchants Standard spreads CF Merchants OANDA FOREX.com EUR/USD min, pips 0.2 0.1 0.7 EUR/USD max, pips 0.4 0.5 1.2 GPB/USD min, pips 0.5 0.1 0.9 GPB/USD max, pips 0.8 0.5 1.4 RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
CF Merchants RAW/ECN spreads CF Merchants OANDA FOREX.com Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency). 3.00 3.5 5 EUR/USD avg spread 0.10 0.15 0.2 GBP/USD avg spread 0.20 0.2 0.4 Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with CF Merchants. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
CF Merchants Non-Trading Fees CF Merchants OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0-0.5 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0-0.5 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 0 0 15 -
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
CF Merchants Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level 
SVG FSA Full Name Financial Services Authority of St. Vincent and the Grenadines Country of regulation St. Vincent and the Grenadines Investor Protection Fund No specific fund Regulation Level Tier-3 CF Merchants Security Factors Foundation date 2020 Negative balance protection YesVerification (KYC) Yes -
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.
- Demo account
- Swap Free (Islamic) account
- Standard account with balanced trading conditions
- No Cent account
- No VIP account option
CF Merchants account types vs top competitors CF Merchants Trading.com Plus500 Standard YesYesYesECN/Raw spread YesNoNoDemo YesYesYesCent NoNoNoMicro NoNoNoSwap Free YesNoNoVIP NoNoNoManaged NoNoNoCF Merchants accounts trading conditions
CF Merchants has three account types with different minimum deposit requirements. Accounts also differ in trading fees and leverage. Each Muslim client can request an Islamic equivalent of any of the account types.
Account types:
Account Type Description Pro Minimum deposit is $50 and spreads from 1.6 pips. There is no fee per lot. Maximum leverage is 1:500; Prime No additional trading fees, spreads from 1 pips, and leverage up to 1:500. Minimum deposit is $500; ECN Minimum deposit is $5,000 and trading leverage is up to 1:1000. Spreads start from 0 pips and the fee per lot is $7. If traders need to practice Forex trading or want to test the conditions offered by CF Merchants, they can open a demo account. CF Merchants is a broker with a wide range of account types for traders of all trading experiences. The STP and ECN execution models allow each client to trade in their preferred trading environment.
-
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.
CF Merchants offers limited payment options and accessibility, which may impact its competitiveness.
- Bitcoin (BTC) accepted
- USDT (Tether) supported
- Low minimum withdrawal requirement
- Minimum deposit below industry average
- No bank card option
- BTC not available as a base account currency
- Only major base currencies available
What are CF Merchants deposit and withdrawal options?
CF Merchants offers a limited selection of deposit and withdrawal methods, including Bank Wire, BTC, USDT. This limitation may restrict flexibility for users, making CF Merchants less competitive for those seeking diverse payment options.
CF Merchants Deposit and Withdrawal Methods vs Competitors CF Merchants Trading.com Plus500 Bank Wire YesYesYesBank card NoYesYesPayPal NoNoYesWise NoNoNoBTC YesNoNoWhat are CF Merchants base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. CF Merchants supports the following base account currencies: USD.
What are CF Merchants's minimum deposit and withdrawal amounts?
The minimum deposit on CF Merchants is $50, while the minimum withdrawal amount is $20. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact CF Merchants’s support team.
-
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.
- 62 supported currency pairs
- Crypto trading
- Indices trading
- Bonds not available
- Limited asset selection
Supported markets vs top competitors
We have compared the range of assets and markets supported by CF Merchants with its competitors, making it easier for you to find the perfect fit.
CF Merchants Trading.com Plus500 Currency pairs 62 69 60 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 69 2800 Stocks YesNoYesCommodity futures YesNoYesCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesNoYesStock indices YesNoYesOptions NoNoYesInvestment options
We also explored the trading assets and products CF Merchants offers for beginner traders and investors who prefer not to engage in active trading.
CF Merchants Trading.com Plus500 Bonds NoNoNoETFs NoNoYesCopy trading YesNoNoPAMM investing NoNoNoManaged accounts NoNoNo -
Trading Account Opening
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 /10We 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. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Low minimum deposit requirement
- Quick KYC verification (1 business day or less)
- Fast registration time (up to 15 minutes)
- Account setup process may feel less convenient for beginners
CF Merchants account opening CF Merchants Trading.com Plus500 Online Registration YesYesYesMinimum deposit $50 $50 $100 Mandatory KYC YesYesYesRegistration time (min) 7 20 KYC time (days) 1 2 3 Is CF Merchants available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
The user account on the broker's website has all the tools necessary for traders to work with trading accounts and manage their money. To create it, do the following:
Go to the official CF Merchants website and click the “Open Live Account” button on the main page.
After that, complete a special form with your first and last names, country of residence, phone number, and email address. Create a reliable password, which will later be used to enter the user account.
Important features of the user account:
- Verification..
- Opening an MT4 trading account..
Other features of the user account:
- Downloading MetaTrader;
- Funding the account balance;
- Opening demo accounts;
- Transferring funds between your accounts;
- Changing the size of available leverage;
- Submitting withdrawal requests;
- Changing your user password and editing your personal data.
-
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 /10Customer support at CF Merchants is available, but response speed and service quality may vary. Some requests are handled efficiently, while others may require follow-ups.
During testing, response times were moderate, and communication depended on the complexity of the request. CF Merchants provides basic support functionality but does not stand out in overall service performance.
InformationCF Merchants provides traders with 24/5 support.
- Communication in instant messengers
- Availability of online support
- Slow response speed in live chat
- Questions sent by email are periodically ignored
Communication channels with CF Merchants are:
- live chat;
- email;
- Telegram;
- WhatsApp;
- Skype.
There is a feedback form in the Contact Us section to send an email to CF Merchants.
Contacts Foundation date 2020 Registration address Commodity and Forex Merchants Limited, Suite 305, Griffith Corporate Center, P.O Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines Official site https://cfmerchants.com/
Best CF Merchants Alternatives
FAQs
What does the regulation and safety assessment say about CF Merchants?
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.
How are CF Merchants trading fees and spreads evaluated in this review?
The review rates CF Merchants’ overall commissions and fees at 6/10, describing them as medium, with low forex trading fees and tight EUR/USD spreads on Standard accounts (typically 0.2–0.4 pips). ECN accounts have average EUR/USD and GBP/USD spreads of 0.10 and 0.20 pips respectively with a $3 commission per lot, while non-trading fees include small deposit and withdrawal charges of 0–0.5% but no inactivity fee.
What account types and trading conditions does CF Merchants provide?
CF Merchants offers Demo, Standard, ECN/Raw spread, and Swap Free (Islamic) accounts, but does not provide Cent, Micro, VIP, or managed accounts. The Pro account starts from a $50 minimum deposit with spreads from 1.6 pips and leverage up to 1:500, the Prime account requires $500 with spreads from 1 pip and leverage up to 1:500, and the ECN account has a $5,000 minimum, spreads from 0 pips, leverage up to 1:1000, and a $7 fee per lot.
What do reviews say about CF Merchants deposit and withdrawal conditions?
According to the review, CF Merchants receives a low score of 4/10 for deposit and withdrawal efficiency, mainly due to limited payment options and associated costs. Available methods include bank wire, BTC, and USDT, with a minimum deposit of $50 and a minimum withdrawal of $20, while some transactions may incur fees and services like PayPal are not supported.
What feedback is available about CF Merchants customer support quality and availability?
The review notes that 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. It mentions that live chat can be slow and some email queries are periodically ignored, while other requests are handled more efficiently depending on their complexity.
Articles that may help you
-
#For Beginners
CF Merchants Available Countries – Full List (2026)
October 2026 Mikhail Vnuchkov -
#For Beginners
CF Merchants Withdrawal Fees, Time & Payment Methods (2026)
October 2026 Andrey Mastykin -
#For Beginners
Bank Of Korea's Foreign Exchange Interventions: A Comprehensive Overview
October 2026 Andreas Kristo -
#For Beginners
Best Indicators For Effective 1-Minute Scalping Strategy
October 2026 Maxim Nechiporenko -
#For Beginners
Best Forex Brokers That Allow Hedging In 2026
October 2026 Igor Krasulya -
#For Beginners
Best Oil Trading Platforms in 2026 Compared
October 2026 Vuk Martin -
#For Beginners
Best ECN Brokers: Reviewed and Rated
October 2026 Parshwa Turakhiya -
#For Beginners
Volume Spread Analysis | Full Guide And Trading Strategies
October 2026 Andrey Mastykin -
#For Beginners
Why Trade the 4-hour Timeframe? Pros and Cons of 4H Trading
October 2026 Upendra Goswami
