CIFMarkets Review

Introduction

CIFMarkets is a CFD broker, registered and licensed in South Africa by ACLIVE WEALTH ADVISORY (PTY) LTD. The company is a fairly entrant to the market. Yet the company has many remarkable features like an FSCA regulation, multilingual support, CFD assets across 6 markets, and a TradingView powered trading platform. 

At a glance, CIFMarkets is a quite complete broker with a 1:200 leverage, low spreads with a further discount on higher tiers, swap discounts, and a stop out level at 5%. Both deposits and withdrawals with the company are convenient with 11 different payment options. However, the minimum deposit of $250 can feel slightly higher than other players in the market. Learn more about this broker in our detailed broker review. 

Supported/Restricted Countries

Due to local and international regulations, almost no broker offers services in all regions of the world. CIFMarkets is not different in this regard as the company has clearly mentioned the countries where the broker does not offer services. 

The residents from the following countries are restricted from using CIFMarkets: 

1. Iran
2. Syria
3. Iraq
4. Sudan
5. Cuba
6. North Korea
7. Côte d'Ivoire
8. Haiti
9. Puerto Rico
10. Myanmar
11. Suriname
12. Zimbabwe
13. Belarus
14. Russia
15. Venezuela
16. Austria
17. Belgium
18. Bulgaria
19. Croatia
20. Cyprus
21. Czechia
22. Denmark
23. Estonia
24. Finland
25. France
26. Germany
27. Greece
28. Hungary
29. Ireland
30. Italy
31. Latvia
32. Lithuania
33. Luxembourg
34. Malta
35. Netherlands
36. Poland
37. Portugal
38. Romania
39. Slovakia
40. Slovenia
41. Spain
42. Sweden
43. Canada
44. United States

A quick way to check the availability of a broker in your country is by spending a minute or two on their sign up page. When you enter your phone number, based on the country code the broker identifies the country of residence. You cannot head to the next steps for sign up if the broker does not offer services in your country. 

Average Customer Reviews

We always recommend checking client reviews before you commit to a broker. To help our readers, we allow sharing your experience you had with a broker on our website. At the time of writing this article, we do not have CIFMarkets reviews on our site. The company does not have a TrustPilot profile. 

Trading Platforms

Access to different trading strategies, charting and analytics tools, the user interface, and many features depend on the trading platform. Besides the features, a lot of traders have a preference for trading platforms. For example, some may prefer MetaTrader 4 or 5, whereas others may prefer TradingView, cTrader, NinjaTrader or some other option. 

CIFMarkets does not have MetaTrader platforms. Instead, the company offers a TradingView powered WebTrader platform. The WebTrader is a browser-based trading platform which means traders can stay on top of market movements without needing to download the app. However, the company also has a mobile app to help traders access markets on the go. 

Tradable Assets

Access to a wide variety of tradable assets gives traders more opportunities to grow their portfolio. CIFMarkets allows traders to trade with a wide selection of forex pairs, cryptocurrencies, metals, commodities, stocks, and indices. However, the company has not disclosed the exact number of assets on their website. 

Customer Support

When it comes to customer support, there are aspects to CIFMarkets that make it stand out. For starters, the customer support is available via calls, email, and live chat. You can call the company at +441952989336 (for UK), email them at [email protected], or you can use the live chat option on their website. 

Besides a dedicated line for the UK, the company also dedicated lines for Peru, Costa Rica, Dominican Republic, Guatemala, El Salvador, Argentina, Panama, Chile, and Switzerland. 

Both the website content and customer service is available in a total of 7 languages. These languages are English, Arabic, Spanish, French, German, Portuguese, and Italian. 

The support is available round the clock from Monday to Friday. At the time of writing this review, the company lacks an extensive knowledgebase many brokers usually have on their website. Currently, the broker only has a short FAQs section. 

Leverage, Spreads, and Other Fees

For beginner traders, you can think of leverage as a multiplier that allows you to control bigger positions against your funds. However, leverage is a double-edged sword. On profitable trades, it amplifies your profits. And on unprofitable trades, it amplifies your losses. A spread is the price difference between the buying and selling price of an asset. You can think of it as a small fee a broker charges every time you trade. 

CIFMarkets offers a high leverage of 1:200 and fairly low spreads. The company also charges a swap fee on positions held overnight.

Payment Methods

Traders frequently fund their accounts and withdraw profits. Therefore, when choosing a broker, it is highly advisable to check if your preferred payment methods are available or not. 

CIFMarkets offers multiple major payment options like major debit and credit card providers (VISA and Mastercard), e-wallets (Apple Pay, GPay, and PayPal), and digital payment services (Skrill, Kuady, AstroPay, and Neteller). With all these options available, payments with CIFMarkets should be easy for most brokers.  

Company Details 

CIFMarkets is a new broker that has entered the market quite recently. The brand is operated by ACLIVE WEALTH ADVISORY (PTY) LTD which is registered in South Africa with registration number 2022/427817/07. The company is licensed and regulated by FSCA with an FSP licence number 54857. The company’s registered office is in Johannesburg, South Africa.

Regulatory Framework

As an FSCA regulated broker, the CIFMarkets keeps client funds in segregated accounts, separate from the company’s operational funds. The company has to pass onsite and offsite audits from the regulatory authority. The company requires traders to comply with KYC and AML regulatory frameworks to start trading. 

Conclusion

CIFMarkets is a new broker, yet the company checks many boxes you expect from an established company in the CFD space. The company has a respectable tier-2 regulation, assets across 6 CFD classes, customer support in 7 languages and across 3 channels, a Tradingview powered WebTrader and mobile app, and high leverage and fair spreads. 

On the other hand, the company has some shortcomings too, like no MT4/5 platforms, no Islamic swap-free trading accounts, and no extensive knowledgebase. On top of that, the company lacks a track record since it’s a new player. 

Is it worth trying? The answer is yes, it is. The company is licensed and regulated by a strict regulator and shines in areas like customer service, tradable assets, and straightforward offerings. A risk-free way to see if the broker is for you or not is to sign up for a demo account.