Is Cedar Finance a Scam? Read This Brutally Honest Review

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Cedar Finance
Regulated: No

Broker Name:	Cedar Finance
Platform:	Tradologic
Founded:	2011
Bonus:	75%
Return/Refund:	65-75%/0-10%

No. Of Assets:	60
Regulated:	No
Demo Account:	Yes
Minimum Deposit:	200
US Traders:	Not Accepted

Last Updated 09/01/2020

Cedar Finance Review

by Martin Kay

Warning: Cyprus Watchdog Revokes License of P.M. Investment Capital (Holding Company)
Update 18/11/2015 – Cedar Finance Shuts Down Operation

Editor’s Note – Why does CedarFinance Suck?

The first thing I checked was also the first one that sucked (even more followed): at first glance, their asset index is structured as usual, showing different tabs for each asset category, but what do you know, in the Currency tab I find Platinum and S&P Future, in the Indices section I find USD/RUB, EUR/GBP and in the Commodities tab I find Google and Apple. They do get right some of the assets, but it’s a total mess and I can’t help but wonder how they are keeping track of their clients’ accounts if they can’t even organize an Asset Index.

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Why CedarFinance doesn’t Suck?

They have a Daily Market review area which is up to date and pretty informative, unlike other brokers that forget for months to update their daily market analysis. A step by step .pdf document teaches me all about their platform and features and it also presents a brief history of Binary Options, but other than this, I can’t find anything worth mentioning.

Cedar Finance Full Review – Same Old, Same Old…

If I was to sum up everything about Cedar Finance in one word, that would be “boring”. They do absolutely nothing to stand up from the crowd. If I want to start trading Binary Options and I am looking for a broker, I can’t think of a single reason why I would choose them. Everything they write on their website has already been written countless times by other mediocre brokers and Cedar Finance comes with no innovation and a total lack of originality. They even use the stupid motto “We focus on what really counts. You” and they don’t even bother to use proper grammar; the correct form is “…WHO really counts…” but I guess they consider their clients just things. And they call themselves “a worldwide leader” also claiming that “Cedar Finance is the most professional and objective…” blah, blah but do nothing to prove it. Reality check: you are not the best just by thinking hard enough that you are, so put your money where your moth is and step up your game. Oh, I almost forgot: they are the only broker that offers 60 second trading and this tool is “unique to Cedar Finance”. Yea, indeed, I just heard about 60 seconds and I never saw them on any other platform…wow, is this how they are going to convince me to invest with them? Is this their best shot? Or maybe their hidden weapon is the payout which ranges between 65% and 75%…nope it can’t be because that is not so great. They use the SpotOption platform…well, there’s bunch of other brokers using the same platform. Customer support…could that be the reason why I would invest with them? Although the Live Chat representative was pretty helpful and polite (compared to other brokers), it’s just a drop in the ocean and I am not convinced… at all.

Is Cedar Finance a Scam?

Well, I wouldn’t go that far, because there’s nothing that can clearly make me believe that. After all, they can’t even organize their Asset Index and although I never scammed anybody, I guess planning a good scam requires some work and from the looks of things, Cedar Finance is struggling with operating a website. There are a lot of videos on Youtube, showing people that made money with Cedar Finance so easy that even a monkey can do it. Now, do you really believe that? If it was so easy, we would all be millionaires just by clicking Up or Down on our computer screens. Advertising is ok, but videos with actors claiming to be real successful traders…it’s just too much. I don’t know for sure if those guys are actors or not, but my opinion is formed: scam or not, I would go for one of the top brokers and forget all about these guys.

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CedarFinance Complaints

The internet is full of complaints and the most “popular” are withdrawal problems, not getting a call from the so called Account Manager, not receiving any promised training or not being informed about the fact that accepting a bonus will prevent you from withdrawing your own investment.

CedarFinance Bonus

Their bonus percentages range from 30 to 75% according to Customer Support and the trading volume needed in order to withdraw is 40 times the deposited amount + bonus amount. No matter what bonus you receive, to be required to trade 40 times bonus + investment is really too high, but the cherry on top is that I cannot withdraw my own money if I accept even one Dollar bonus. Limiting my withdrawal possibilities regarding the Bonus is one thing, but not allowing me to withdraw MY money is outrageous.

CedarFinance Withdrawal

The minimum withdrawal amount is 200 USD/EUR/GBP, same as the minimum deposit and the always present problem arises again: what if I deposit $200, lose a trade and then decide to withdraw…I can’t. It’s really bothering that brokers can impose such conditions and people still invest with them.

CedarFinance Extras

Maybe the market analysis could be considered and extra or the fact that they offer Double Up and Roll Over tools, but really none of the above is impressing or unseen before.

Cedar Finance Ratings

User Friendly 15/20

The platform used is SpotOption which is easy to use and pretty reliable from a technical point of view and overall the website has a simple layout, a fact which makes it easy for the trader to find what he is looking for. Three languages are supported: English, French and “Deutch”. I never heard of the last language, but I guess it’s another one of their mistakes and they meant to write “DeutSch”

Number of assets and expiry times 13/20

I encountered a problem when I tried to find out how many assets they have for each category because the Asset Index is all mixed up and one category contains more than one asset class. If they can’t do it right, I certainly won’t be fixing it for them so they get a big fat zero for the number of assets. The expiry times range from 60 seconds to 15 minutes, 30 minutes and one hour, with the possibility to use the Option Builder and One Touch Options.

Commissions, Support and Effective return 14/20

There are no commissions to open an account but you will have to pay 25 USD/EUR/GBP (depending on your account’s currency) if you want to withdraw via wire transfer. Customer Support is good compared to other brokers and the payout ranges from 65% to 75% according to their FAQ, although on the home page picture they advertise “up to 81%”

Deposit, Payment and Bonus 12/20

You can deposit by Credit Card, wire transfer or CashU. The minimum deposit is 200 USD/EUR/GBP. Withdrawals are processed within 3 business days and you will need to wait for another 5 to 7 days for the money to reach your account. The bonus ranges from 30% to 75% depending on the amount invested and the wager is 40 times deposit + bonus which is extremely high.

Website Extras 12/20

The market analysis can be considered an Extra feature and so do the Roll Over and Double up features. 60 seconds and Open Platform.

Cedar Finance Ratings 66/100

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28 Responses to “CedarFinance”

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larry catoe
11/22/2016 21:29

I have over 7
I have over 7,000.00$USD in my account and cannot access it. This started when they said they were upgraded their system. I cannot get a response on email or chat. COMPLETE RIPPOFF. Larry f. cATOE
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Fabio
02/22/2016 18:04

Hey how can i get my
Hey how can i get my Money back now i cant log in
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Paolo
12/07/2015 20:43

Cedar Finance Shuts Down Operation
Cedar Finance Shuts Down Operation.
If you have money on your balance, its gone. Lost….
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mark
11/01/2015 02:38

hi what has happen to Cedar
hi what has happen to Cedar Finance I had account with money in it I tried to log on but cant is there any way I can get my money back at all can someone pls tell me how
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David Price
10/15/2015 09:55

I invested in Cedar Finance and
I invested in Cedar Finance and like one of your other respondents I couldn’t get in touch with them either. I have just £400 with them but that’s not the point. These guys are crooks. Their site if discontinued and whenever I try to connect I get the message ‘Server not Available’.
Even the telephone contact number I had has a discontinued tone!!! I have notified Apple who still list the app on their app store.
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Robert Dunlap
09/18/2015 06:37

I have been trading with Cedar
I have been trading with Cedar Finance since 7/24/2015. I deposited $250 with them and was using JMB profit for signals. The first signal from them was a loss and the second signal from them would have been a loss if I had went with their recommendation. I started trading on my own being real cautious, and on 9/11/2015 the last day I traded my balance was $220. I tried to log in on Sunday evening and the website loads but the log in page just keeps loading and loading. I let it run for 1-1/2 hours on 9/17 and came back and it was still loading I have a new Lenovo computer which is really fast running windows 10 and no problems. I have been trying to log in to Cedar Finance for 5 days and no luck so far. I contacted Cedar finance on Sunday around 5:00 pm and they told me they were updating the site and it would be up in 3 hours and it has been 5 days and nothing. They gave me a ticket and said they would be in touch 2 days ago. I haven’t heard a word from them. Something is fishy. If they want to make money you would think they would get their site fixed pronto.
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inre
09/15/2015 19:54

What is happening
What is happening? The trade platform is down, can’t login on site. All international phones are down. Account manager and support don’t answer emails. Any one know what is happening?
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- Mike
  09/19/2015 14:32
  
  Site has been down since sat
  Site has been down since sat. 9/12/15. Same as you. No contact with anyone from Cedar Finance. I put in $1500.00 on 4th of July. Took bonus because I was not looking to withdraw anything for along time, wanted to build up my profits. Was up over $6000.00. Tried Saturday to log in and cannot. Now Saturday I upgraded my computer from Windows 8 to windows 10. So I was lying to myself that some security item prevented me from logging in. Wow everything was great till I kept having good investment weeks.Now they seemed to have cut me off. If they were upgrading the site you would think they would communicate it with their clients. Very disappointed.
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Mark
09/15/2015 12:43

Hello
Hello,
I have been scammed by a few sites, I think because I do too well in bitcoin trading. I was shut down by BluBitBank in 2 days for trading too well. Told I was cheating. Recently the rates for bitcoins on the CTOption site become incorrect based on several other sites agree with each other but CTOption rate changes drastically so I lose by about 2 cents and eventually the bitcoin rate goes back to being accurate. I have captured screenshots of graphs and data to prove that the rate of CTOption was incorrect based on several other sites but they say it was accurate all the time. It does track quite well with other sites for the most part, but has cost me 5 trades so far for a total of $5k. Maybe not that much to some people but it is to me. Any advice what to do?
Mark
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san
05/29/2015 01:27

Do not invest in cedar finance
Do not invest in cedar finance.. U lose everything.I made deposit 2000..and I make my account1000 using some formulas. But they not allow me to withdraw.they are cheated me.they asked me need this documents …I submitted all. But I didn’t get paid yet. They are fully cheating company.. I hate the guy who shows cedar finance payment in youtube. I lost because of him…
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Michael Siba of Vanuatu
02/13/2015 00:33

I payed in my deposit with
I payed in my deposit with them. I was informed the deposit had been received. I am still waiting for a phone call to discuss my trade. Does anyone know their location and how I can contact them for a refund?
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Jelle
12/30/2014 10:41

They are indeed a scam
They are indeed a scam. I did a trade for 250 EUR, it kept in the green as you can also see here on the expiry date:
https://i.imgur.com/nXBqlGz.png
https://i.imgur.com/TxIEm7e.png
Yet they closed the trade as a ‘loss’ and refused to pay me my profits and marked it as a loss. Even contacting their support is pointless, cause they say the system is right, even when you have proof it’s not.
Sometimes trades also suddenly disappeared from the list also in the history and the balance also disappears. It’s awful you always have to contact their support to get it restored or relisted. This mainly happens on succesful trades.
I won’t recommend anyone to use them.
Also watch out with their bonusses, if you get a 750 EUR bonus you have to make 22500 EUR in tradings before they pay you out.
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fasttrack
11/26/2014 19:28

I signed up for cedar finance
I signed up for cedar finance and they called me immediately and offered me a $500 bonus said my account would be 1k if I deposited $500. The rep who sounded middle eastern said that he could only hold the offer for an hour and I told him it would take 2 hrs to get my money together to start. He was shrewd and insisted 1 hour and seemed giggly at the end of the call. He told me that my money would be protected from loss if I joined at the 1k level. This seems absurd. I think it was a hacker/scammer who was trying to get my info. He said he could only do the offer over the phone. Smells of a scam. First of all in the disclaimer on the site there is no guarantee you will not lose money. Cedar finance is a real company but I do not think I was talking to a real rep 613-702-4409 was the phone number the rep called from. Be careful people. So many scams these days. This is probably not a good idea if you can’t afford to lose money anyway.
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Doug
10/02/2014 18:12

Tried out their binary robot in
Tried out their binary robot in a demo account for about 2 hours Oct 1, ’14. It performed beautifully. Turned the $500 play money into $1,188 > ~ 2 hours. So I signed up with $300 and traded on the auto-bot for real on my own money.
The results were dismal. 2 out of 10. So I turned it off. Minutes later a call to me asks why I turned it off, and I told them there must be a problem with their ‘bot, it was making irresponsible trades a blind man could see. Why weren’t the results similar to the other day’s practice session? He said I would need to deposit another $1,000 to get that result. Apparently they can scale your win rate to whatever the hell they want in terms of recommendation trades. I had been induced by false pretenses into the fraud of “bait & switch” and did not get the ‘bot results I bargained for. I was cheated.
I witnessed that they can be awesomely accurate when they want to be, especially on their own short term offerings they alone provide to induce you. Then, I believe, they rob you to supply their own and bigger accounts. I am very upset and cannot recommend the AIP ‘bot providers that did this to me.
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Michael
09/30/2014 02:13

I do not understand why people
I do not understand why people complain about CedarFinance negatively. I never deposit any money. This is email I received today from Cedar Finance:
Subject: Re: Missed opportunity to make profit? Markets are open now.
SEP 29, 2014 | 11:09PM UTC
Alison Tucker replied:
Dear Customer,
We would like to inform you that we are a legitimate business that provides customers with a high quality service. Your investments are safe and you can withdraw funds at any time.
Here you can read articles about us at:
1. https://www.prweb.com/releases/2012/11/prweb10161440.htm
2. https://www.reuters.com/article/2013/03/26/idUSnGNXUXKWLa+1fe+GNW20130326
3. https://www.cashbackbinaryoptions.com/best-binary-options-brokers-2013/
We have thousands of satisfied customers who are making money wit us.
We hope this is of assistance.
If you have any further queries, feel free to contact us.
Best Regards,
Alison Tucker
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Mohammad
06/24/2014 06:41

Please guys
Please guys, you must know that there is no way to earn money fast. Stick with your monthly salaries believe me, this is the best way. I’ve been using this site for years. I do win sometimes but my losses just keep on increasing. If you haven’ t started believe me you shouldn’t because once you do, it gets harder to stop. Over several years, I’ve lost about 40 thousand dollars on cedar finance. It is not that bad because my monthly salary is about 5000 dollars, so I can get everything back in 8 months or so. But please believe me you don’t want to have the same experience. It’s not about the money, it’s about the time and effort that I’ve spent on learning and trading. It sucks. I wish I’ve never heard of online trading at all. Even if you win and that is how I’ve started anyway, you’ll keep trading and your losses will become more than your wins over time and that is how you’ll stop.
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Ruben
06/20/2014 12:00

Hello guys just want to share
Hello guys just want to share my experience with Binary Options/Cedar Finance …I have been losing more money than I invest…But I did find a very good program that is legit and you really make good money..I’m making almost $1,000 a day…FINALY A GOOD PROGRAM THAT BACKS UP WHAT THEY SAY…I will gladly share my success program with you guys just shoot me an email or add me on Skype and I will tell you all about it and forward you the link..
Ruben.J [email protected] SKYPE: traffic4sure
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Mathieu
05/27/2014 07:20

i was scam by cedar finance
i was scam by cedar finance also now im using markets world and i’m happy with them i put 45$ i made 116$ and 2 day after i withdraw the money was in my bank account
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Cedar Finance Is a Scam
05/15/2014 21:35

Do not sign up with Cedar
Do not sign up with Cedar Finance! If you do, never with more than $300.00. I have posted my binary options horror story. Didn’t have the time to add more details, but it’s enough. If you want a fair and balanced binary options broker, avoid these fellas. Here is the URL to my report. Hopefully I can save a few people. https://www.ripoffreport.com/r/Cedar-Finance/internet/Cedar-Finance-TBSF-Best-Strategy-Finance-Ltd-TBSF-BEST-STRATEGY-FINANCE-LIMITED-C-1146645
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Pro trader
04/23/2014 10:21

Wow
Wow. Where do i begin when sharing my experience with Cedar Finance? I guess I can number bullet the issues one by one.
1.) In their long term 15 minute/30 minute/60 minute DIGITAL OPTIONS, as they call it, the time (clock) on their website extends up to 45 seconds past the closing of the trade. I lost money this way with them plenty. When I made a complaint via their customer support form that is always annoyingly in the way, the next day or two I noticed only 10-20 second delays. They tightened up their rip off scheme some I guess.
2. No working phone numbers? All of their U.S. numbers are NON WORKING numbers. Both the NY and SF lines. When I got with customer service online via their instant chat CS platform, they said to keep trying the numbers and that they are answering the lines all the time from the numbers. Excuse me? I told you already, the recorded message says the numbers are invalid NON WORKING numbers. Why the lies? Just get rid of the numbers from the website. Lying about that though, makes me pretty nervous when I have a few thousand in the account.
3. Once my account got flush due to my personal strategy, within less than 10 hours they changed up the rules on how you can trade on their site. Obviously making over $5,000.00 in one day is a bit much for this company to handle, enough to change policy throughout their entire site. This shows to me their ill intention of taking money, not allowing investors to really make money. Sickens me.
4. Once my account got over $5,000.00 they made the TURBO trading minimum $500.00 per trade!!!
5. I’m going to try to close my account and salvage my earnings. I’ll update you on that. I have more complaints too, but all I see is possibly one weasel acting as a company. I doubt there’s “employees”. Seems shady and I’m leaving this brokerage by themselves. Like I said, I’ll update on the withdrawal of my remaining funds they have tried to scam from me.
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- mathy
  06/26/2015 04:04
  
  It's cheating company
  It’s cheating company. Don’t put ur money. I complete all bonus requirements.. I try 19 days to get the money . I cant they said contact accounts. Accounts does Mr reply a anything.. they are real scam..save your money. I file a case against this and ……customer service is bad..they delete the negative reviews from this apps.. so don’t be fool bat cedar finance.
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Deon Christie (@DEXTROBLIX)
04/04/2014 16:06

Hi guys
Hi guys,
From personal experience, DO NOT go with Cedar Finance! I lost $500, and eventually stopped wasting my time when my balance reached around $21.
To mention one defect, I would place a trade for 5min, but a 30sec trade get registered…this “glitch” destroyed my balance!
I wouldn’t trade with CEDAR FINANCE again if they PAID ME! What a complete and utter waste of valuable time and money!
Regards,
Deon Christie
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ayyan
03/06/2014 13:58

Cedar finance was calling just now
Cedar finance was calling just now to convince me to join thier binary option.
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Bart
02/13/2014 17:16

I was watching a profitable trade
I was watching a profitable trade that was up 14 points at expiration, then it took a long while and the trade lost by about 6 points. Either their website has a huge delay or something is fishy. I noticed another time that the clock on the website was off by 1/2 hour! I think this is a garage shop.
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phira chuon
01/26/2014 11:29

22 1 14-- I was trading
22/1/14– I was trading with cedar I was up a fair bit on my trades, when about 10:30pm to 11:00pm there was a so called maitainence issue but just before, I had place 700 hundred dollars on a trade. Then screen jumped to my usual trades to something completly different, aex 25, I place 60 second wagers by the time I noticed it was to late as my trades was already counting down. I talked to support and they said we were sorry due to website issue’s they were having and needed to get fixed
1. 60 second option jumped as soon as I placed it, strange but true to 22 seconds imediately then I kept trying to chat with them, but they would not answer I tried ringing them as well the next day and the night but there was no answer either they knew 100% that they had stuffed up but kept deniying it
2. after speaking on chat after hours they told me to take a screen shot after this happened (700) had been placed on a wrong trade then they told me to go talk to support and this went on and on so how could i prove that this happen when I needed a screen shot as if i can do this at that time its impossible and a stupid thing to ask so basically, I was to do my own investigation when they old me i had to just wait 48 hours before I receive my funds back, they suck but I could not win with a company like that I just let it be. i could not win against them. But they know because the next few days they told me there was no malfunction at all but little that they knew when I was chatting to the support staff I copied and pasted our conversation (which had we are sorry but we are doing maitenance on the site ) so they have it but are straight out lier’s and they should rot in hell scam that night 100% was so people beware.
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Don't use Cedar Finance
01/06/2014 13:08

Cedar finance is a smartly designed
Cedar finance is a smartly designed rip off machine. I have no sour grapes when it comes to losing money legitimately however, I have personally used Cedar Finance and this is what I have to say about them.
1. I made some money on the site and requested a withdrawal. Request was rejected. Not just rejected but, no information supplied as to why it was rejected. After a few follow up emails asking why it was rejected, I was asked to submit 2 withdrawals, 1 for the amount I initially deposited (Using skrill) and another for the profits I made using another form of method (Wire transfer). After supplying the documentation and no word for 4 days, I decided to not wait and keep using the platform.
2. I started noticing weird things happening like I’d log on then be logged off and this happened frequently (I have a solid internet connection, nothing wrong on my end).
3. The platform seemed to work fine most of the time when I wasn’t being logged off however, when I was using a strategy that increased trade amounts to cover previous losses, the platform frequently started giving me ‘your trade could not be executed, please try again later’ messages. Every trader knows that timing is of the essence if you are to be successful and being messed around when you trying to place a few hundred dollar trade isn’t good for your strategy at all. I personally lost $700 due to this message being displayed at a very inconvenient time and my strategy fell apart at a crucial time (I would have won the trade if the message didn’t appear).
4. I also noticed that the market rates would stop updating but, the timer on the site would continue obviously meaning there is no issue with my connection to the site and it is trying its damndest to put me off my strategy. I could still tell what the market rates were using the fxstreet.com website graphs and used those to place my trades. The market values on the Cedar platform started freezing and were incorrect at times but, placing a trade using the market value graphs listed on the fxstreet.com website would place the trade at the correct value on the platform..
In a nutshell, you will lose money at times playing on the stock markets however, if the platform you are using simply isn’t stable and could cause you fairly big losses at a crucial time, don’t use them at all. I am still thinking about using other trading platforms, I have read 24option and topoption are good platforms but, I haven’t used them so I can’t really comment.
Happy trading… or not .. if you use Cedar Finance
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- Adolph lofton
  12/08/2015 05:38
  
  Why can't I get my money
  Why can’t I get my money
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Ruben
12/19/2013 01:16

I tried Cedar Finance and Im
I tried Cedar Finance and Im losing more money than earning..I wouldn’t try it if I were you..O dont like recomending programs cause they end up being BAD..But I did find one program that is making me money almost everyday..I have never seen my PayPal account and Bank getting stuffed with $20,$50 and $100 everyday…I have never seen a good program that really backs up what they say…If youre interested please email me at [email protected] and I will forward you the Link..You will Thank me Later.
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