Cedar Finance review
Owner(s): P.M. Investment Capital Ltd.
Price: Minimum deposit 200 USD/EUR/GBP
Overall Rating: 3/10
Is Cedar Finance a scam?
Cedar Finance is an online platform established in 2011 based in Nicosia, Cyprus. It is a binary option site that is fairly popular in the UK, US as well as in some parts of Europe such as Germany.
In case you didn’t know, binary option is an all-or-nothing type of option where traders either get the fixed amount (or an asset) or they end up empty handed. These are also called digital options, Fixed Return Options (FROs) and all-or-nothing sites.
For example, if you think that the price of silver will be below a certain amount at a certain time, you can buy the binary option. And then you wait. If you turn out to be wrong – you lose your money. If you’re right – you make a profit.
Cedar Finance operates on Tradologic platform offering the following binary options you can choose from: digital options, range options, one touch and touch options. There is also a turbo option with extremely short time frames.
If you’ve seen their video on YouTube, you’re probably sceptical at least a little bit. Turning a $100 into $250 in 60 seconds with basically no brain power involved seems like a fairy tale even to the most naïve of players.
While it may be true that you can make a lot of money fast using a binary option system, it is also true that you can lose your money equally as fast because the whole process is extremely volatile and therefore risky.
There have been some serious complaints about Cedar Finance though. For example, RipoffReport.com features a detailed testimonial of how Cedar Finance platform never lets you win, no matter what you do:
“…They extend the expiry for the chance to have you lose one last little inch of a minute and consider it a legitimate closing of an asset when you lose. If you win within those extra seconds though … you still lose.”
According to the report, their customer support service also turns a blind eye to your complaints and never solves any of the problems you are complaining about. Instead, they just drag it on for as long as they can until you’re back to square one or until you lose your money.
The whole point is that they seem to deliberately sabotage your every move so that you lose in the end. Even without reading the testimonials, the claim itself that you can almost triple the amount of money you invest without any conscious effort sounds ludicrous to say the least.
There are many more sites just like the Cedar Finance claiming the exact same things and calling themselves ‘objective’, ‘professional’ and having ‘over 300.000 satisfied customers’. They even claim that the 60-seconds trading tool is unique to Cedar Finance, when in fact you can see it on pretty much every other all-or-nothing platform.
On top of that, Cedar Finance is not even regulated with Cysec, which they should be if they’re based in Cyprus.
As for the main question (is it a scam?), based on everything said above, Cedar Finance really does seems suspicious to say the least.
If you really want to make money off binary options, a piece of advice is to find a reputable broker rather than relying on sites like this one.
The Good and the Bad
Although everything screams ‘scam’ loud and clear, nevertheless, let’s take a look at some of the pros and cons regarding Cedar Finance:
- Not much to say here.
- Serious complaints and allegations of fraud.
- Exaggerated claims.
- Not able to withdraw the money earned.
- Minimum deposit is too high
- Initial deposits can’t be withdrawn.
- Follows the same pattern as the other scams.
Who is it for
Anyone who is familiar with binary option bets, who wants to earn some fast money, and most importantly – who is willing to take a huge risk.
There is no need to download any software as everything you need to fill out can be found on their site, and you just follow the instructions from there.
It involves a fairly simple two-step process: first you register (for free) and then you make a deposit.
Once you decide to invest your money there is a live chat representative who is supposedly there to guide you and provide you with any help you might need.
In reality, customer service has been proved to be quite ineffective, and always on the side of Cedar Finance.
The registration fee is free of charge although you do have to pay 25 USD/EUR/GBP if you want to withdraw your money via wire transfer. The minimum deposit amount is $200.
Can you really make money with online trading?
Online trading is a tricky business, to say the least. It’s just like gambling when you look at it. There’s no knowing when you’re going to win. You simply make a bet and hope for the best.
While many people claim they have been earning money by doing binary option bets, it’s a very risky strategy and you need to do a lot of research before giving away your money to binary option sites.
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The best thing about affiliate marketing is that you don’t need a lot of resources to start and you’re not expected to make an investment. Somebody else does that and you are just helping out. All you need is a website, and a little training and support. And your time and energy, of course.
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