Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighRan unlicensed through an SVG company from 2020 to mid-2024 and sits on the CFTC RED List; Cedar Ltd's FSC Mauritius dealer licence from July 2024 is real but offshore and came late.
Identity & transparency
6/10 · HighNo company named on the site until late 2024; Cedar Ltd now matches the FSC register, but the brand has closed and its successor's hand-over account conflicts with the evidence.
Withdrawals & conduct
5/10 · ModerateTwo specific reports of accounts closed after big wins (2022, 2023) and a 2026 report that the broker vanished, against many paid Bitcoin withdrawals; pattern unconfirmed.
Reputation
6/10 · HighTrustpilot 2.7 from 65 reviews with a suspect five-star burst, Forex Peace Army 4.3 from 18, a 2022 FinTelegram warning and the CFTC listing.
Website claims
6/10 · HighSaid it did not serve US residents while US clients traded, and charged an aggressive inactivity fee after 30 days without trading; the tree pledge is partly backed by an Ecologi profile.
Operational history
6/10 · HighBroker pages ran from December 2020 into 2025 on a 2018 domain; the brand has now closed and neither company could be dated, so the age is an upper bound.
Who they are
A quick desk file on the company behind the brand.
- Brand: CedarFX, marketed as an eco-friendly broker that pledged to plant 10 trees for every lot traded.
- Legal entity: Cedar Ltd, a Mauritius company, in its final period. From 2020 to 2024 the brand was run by Cedar LLC of St Vincent and the Grenadines, the company the CFTC names.
- Registered: Premier Business Center, 10th Floor, Sterling Tower, 14 Poudrière Street, Port Louis, Mauritius, the office of its management company Premier Financial Services Limited. The site itself gave Suite 102, 1st Floor, Sterling Tower.
- Website: cedarfx.com, registered in March 2018, with broker pages from December 2020. It now forwards to lhfx.com, and the client portal app.cedarfx.com no longer exists.
- Only licence: an offshore FSC Mauritius Investment Dealer licence for Cedar Ltd dated 24 July 2024 (GB23202205 on its old footer), with no investor compensation scheme. Before that, none.
- Offers: CFDs on about 170 forex, crypto, stock, index and commodity markets on MetaTrader 4, leverage up to 1:500, from a $10 Bitcoin deposit.
- Not accepted: the site excluded the United States, Indonesia and Russia, although the CFTC says it solicited US customers.
- Age claim: no founding year on its own pages; independent listings give 2020, which the archive supports.
- Status: closed. LHFX, run by Longhorn Ltd from the same Port Louis building and management company, says it took over CedarFX's clients.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Financial Services Authority, St Vincent and the Grenadines
Why we reached this verdict
How the evidence adds up.
We rate CedarFX a likely scam mainly because a US regulator names its exact website, and nothing else we found offsets that warning.
- Regulator warning. The CFTC has listed CedarFX, owned and operated by CedarFX / Cedar LLC of St Vincent and the Grenadines, on its RED List since 12 June 2023 for soliciting or accepting US customers without the registration it needs. IOSCO's alert portal shows the alert dated 8 January 2026. The CFTC notes that a listing is not a finding that the law was broken.
- No licence for most of its life. From late 2020 until mid-2024 the brand ran through an unlicensed St Vincent company, and in 2023 its terms and About page named no company at all. Its FAQ offered Bitcoin as the only withdrawal method and sent card or wire deposits through a third-party Bitcoin purchase.
- US clients despite the disclaimer. The site said it did not serve US residents, yet clients in Ohio and Chicago described trading there in 2023, and US-based reviewers kept posting into 2025.
- Complaints. Two clients describe accounts closed after a large win at their first withdrawal (Trustpilot, December 2022; Forex Peace Army, May 2023), and in January 2026 a reviewer wrote that the broker had packed up and vanished. Many others report Bitcoin payouts within hours, so the pattern is unconfirmed. A burst of one-review five-star posts in October and November 2023 looks planted.
- An unclear ending. cedarfx.com now forwards to LHFX, which says CedarFX stopped new sign-ups on 6 October 2024 and moved every client the following week. Yet CedarFX's own site kept its sign-up links into 2025, a client reports depositing on 4 April 2025, and the CedarFX account was still answering reviews in September 2025. LHFX also says CedarFX clients used MT5; CedarFX only offered MT4.
- The licence came late. Cedar Ltd's FSC Mauritius Investment Dealer licence, dated 24 July 2024, is offshore, carries no compensation scheme and arrived only months before the brand began to wind down. CedarFX never linked it to the FSC register.
- Score. The six scorecard dimensions average about 64%. Under our method, a regulator warning that names the exact website sets a minimum of 70%, which is the figure shown.
- Age. The domain dates from March 2018 and broker pages from December 2020. Neither Cedar LLC nor Cedar Ltd has an incorporation date we could confirm, so the operating age rests on the domain alone and is an upper bound.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The CFTC RED List names CedarFX, website cedarfx.com, owned and operated by CedarFX / Cedar LLC of St. Vincent and the Grenadines, offering forex, listed 12 June 2023. The CFTC says it appears to solicit or accept US customers in a capacity that requires registration without being registered, and notes the listing is not a finding that a violation occurred.
Hard proofCFTC RED ListE2IOSCO's I-SCAN portal shows two entries for CedarFX / Cedar LLC at www.cedarfx.com, both from the US CFTC and dated 8 January 2026. They relay the same CFTC alert as E1, so they are not an independent second warning; no other regulator appears.
ModerateIOSCO I-SCANE3The FSC Mauritius Online Public Register lists Cedar Ltd, licensed 24 July 2024, type SEC-2.1B Investment Dealer (Full Service Dealer excluding Underwriting), status company is incorporated, management company Premier Financial Services Limited, address Premier Business Center, 14 Poudrière Street, 10th Floor, Sterling Tower, Port Louis. The entry shows no website and no licence number; the company name and building match the broker's footer.
E4A visit to www.cedarfx.com now lands on lhfx.com, and DNS shows the client portal app.cedarfx.com no longer exists. CedarFX no longer runs a site of its own.
Moderatecedarfx.com and DNS lookupE5LHFX's CedarFX page says CedarFX took its last sign-up on 6 October 2024, moved all accounts, balances, open positions and history to LHFX the following week, and that CedarFX clients used MT5. The earliest archived copy of this page is from 10 June 2026.
ModerateLHFX migration pageE6CedarFX was still active after LHFX's stated cut-off. Its January 2025 homepage still linked Sign up and Open a live account to app.cedarfx.com, a Trustpilot reviewer reports depositing on 4 April 2025, the CedarFX account replied to reviews on 5 September 2025 calling itself a regulated STP broker, and its pages only ever offered MT4.
E7From January to December 2025 the cedarfx.com footer named Cedar Ltd and FSC Mauritius Investment Dealer licence GB23202205, and said CedarFX does not serve residents of the United States, Indonesia or Russia. The October 2024 homepage named no company or licence, and the tree counter stayed frozen at 154,075 from October 2024 to December 2025.
E8In May 2023 the terms named no company, saying only that CedarFX operates within the laws of St Vincent and the Grenadines, and the July 2023 About page gave no company name or address.
E9CedarFX's FAQ names Bitcoin as the main deposit method, sends card and bank wire deposits through a third-party site to buy Bitcoin, offers Bitcoin as the only withdrawal method, and charges a $10 monthly inactivity fee that can take a balance to zero. For most of its life this ran with no licence.
E10Trustpilot lists 65 reviews of cedarfx.com with a TrustScore of 2.7: 74% five-star and 14% one-star, with little in between. A run of five-star posts dated October and November 2023 comes from single-review accounts with generic praise, a pattern typical of planted reviews.
ModerateTrustpilotE11Two clients describe accounts frozen and closed after a large winning day, at their first withdrawal: on Trustpilot in December 2022 (CedarFX replied the account was disabled for a terms breach) and on Forex Peace Army in May 2023 (told their trades showed unusual latency and that further contact would be ignored). Neither gives an amount.
ModerateTrustpilot and Forex Peace ArmyE12A September 2025 reviewer says inactivity fees emptied the wallet, and a January 2026 reviewer says the broker packed up and vanished. An August 2026 review describing a 35% tax to release funds promotes a recovery agent and dates from after the site closed, so it is discounted, as are two earlier recovery adverts.
WeakTrustpilotE13Forex Peace Army's CedarFX page (18 reviews, 4.3 of 5 in its June 2024 copy) holds detailed 2021 reviews of Bitcoin withdrawals arriving within hours, and an Ohio client whose slow payout was caused by low network fees later reported repeated same-day withdrawals. Trustpilot reviews from October and November 2025 also say it pays out.
E14Despite the site's US exclusion, clients in Ohio and Chicago describe live trading at CedarFX in 2023 on Forex Peace Army, and several Trustpilot reviewers labelled US describe accounts in 2024 and 2025, including a deposit on 4 April 2025. This supports the CFTC finding.
ModerateForex Peace Army and TrustpilotE15RDAP shows cedarfx.com registered on 21 March 2018 through GoDaddy, record last updated 19 February 2026. Archived broker pages begin in December 2020; captures from before 2018 predate the current registration.
E16The FSC register lists Longhorn Ltd, the company behind LHFX, licensed 30 April 2024 with the same management company and Sterling Tower address as Cedar Ltd. LHFX's footer gives Longhorn's licence as GB23202204, next to CedarFX's GB23202205, and says LHFX client accounts are opened with LHFX International Ltd of Anjouan, Comoros.
E17FinTelegram, an independent watchdog, warned in March 2022 that CedarFX was run by Cedar LLC of St Vincent (incorporated September 2020, it says), that card deposits were turned into crypto on Instacoins and sent to CedarFX's wallet, and that LonghornFX was a related brand. This is a journalist's assessment, not a regulator finding.
WeakFinTelegramE18Ecologi's CedarFX.com profile shows a 50,000-trees-funded badge and three years of climate action, so the tree pledge was real, although the 154,075 trees the site claimed cannot be matched to it.
WeakEcologi
The other side
The strongest case in this broker’s favour.
The best case for CedarFX is that it behaved like a working, if risky, offshore broker rather than a deposit trap.
- Many first-hand reviews from 2021 to 2023 describe Bitcoin withdrawals arriving within hours, and an Ohio client whose payout stalled on low network fees later reported repeated same-day withdrawals.
- The last operating company sits at a real Port Louis address run by its management company, Premier Financial Services Limited.
- The CFTC itself says a RED listing is not a finding that the law was broken, and we found no other regulator alert, enforcement case or fraud charge naming CedarFX, Cedar LLC or Cedar Ltd.
- CedarFX answered complaints in public and warned users about copycat sites and paid recovery services. Its tree pledge was real: its Ecologi profile shows a 50,000-trees-funded badge over three years.
- Closing accounts for latency trading or rule breaches is a term many brokers enforce, and LHFX says CedarFX balances, open positions and trade history were carried over in full.
What would change this
What we would need to see to revise the verdict.
These developments would move the rating.
- The CFTC removing CedarFX and Cedar LLC from its RED List, or clear evidence that CedarFX never accepted US residents, would remove the main finding and lower the score.
- A dated October 2024 client notice showing every CedarFX balance moved to LHFX, with former clients confirming full withdrawals since, would ease the concern about how the brand closed.
- Registry extracts dating Cedar LLC and Cedar Ltd would settle the operating age.
- More reports of unpaid balances from former CedarFX clients, a regulator or court action naming Cedar Ltd or Cedar LLC, or an FSC sanction would raise the score towards a confirmed scam.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
CFTC RED List: CedarFX
US regulator's entry for cedarfx.com and Cedar LLC, listed 12 June 2023.
IOSCO I-SCAN search: CedarFX
Global alert portal carrying the CFTC alert on CedarFX, dated 8 January 2026.
FSC Mauritius Online Public Register
No direct link per firm: type Cedar in the Name box to see Cedar Ltd's Investment Dealer entry.
LHFX: CedarFX migration page
Where cedarfx.com now leads; LHFX's own account of taking over CedarFX clients.
Trustpilot reviews of cedarfx.com
65 user reviews, mixed, including complaints and a 2023 burst of five-star posts.
Frequently asked questions
Quick answers about this broker’s safety.
Is CedarFX a scam?
We rate CedarFX a likely scam. The US CFTC lists cedarfx.com on its RED List for soliciting US customers without registration, the brand traded with no licence until mid-2024, and it has now closed with its domain forwarding to another broker. Some clients were paid quickly, so this is a high-risk operation rather than a proven theft.
Is CedarFX a fraud?
We found no fraud charge, enforcement case or court ruling naming CedarFX, Cedar LLC or Cedar Ltd. The only regulator action on record is the CFTC RED listing, which concerns unregistered business with US customers and is not a finding of fraud. We still assess the risk of losing money with this brand as high.
Is CedarFX regulated?
For most of its life, no: from 2020 to mid-2024 it ran through Cedar LLC, a St Vincent company with no licence. Any Mauritius dealer licence is offshore with no investor compensation scheme, the FSC register has no direct link per firm (search the name Cedar), and the CedarFX brand no longer trades.
What happened to CedarFX?
The brand has closed. cedarfx.com now forwards to lhfx.com, and LHFX says CedarFX took its last new client on 6 October 2024 and moved all accounts to LHFX the following week. CedarFX's own pages and review replies show it still active well into 2025, so the real timing is unclear.
Can I still withdraw money from my CedarFX account?
Not through CedarFX: its client portal no longer exists. LHFX says former CedarFX clients can sign in at lhfx.com with their CedarFX email and that balances and positions were carried over. Compare the balance with your own records and raise any gap with LHFX in writing.
Who owns CedarFX?
The CFTC names CedarFX / Cedar LLC of St Vincent and the Grenadines as owner and operator. From late 2024 the site named Cedar Ltd, a Mauritius company administered by Premier Financial Services Limited at Sterling Tower, Port Louis. The people behind it are not disclosed.
Why is CedarFX on the CFTC RED List?
The CFTC's RED List covers foreign firms that appear to solicit or accept US customers for products it oversees without being registered. CedarFX and Cedar LLC were added on 12 June 2023. The CFTC says a listing is not a finding that the law was broken, but it is a clear warning to US residents.
Is LHFX the same company as CedarFX?
Not the same company, but closely tied. LHFX is run by Longhorn Ltd, which shares Cedar Ltd's management company and Sterling Tower building and holds FSC number GB23202204, next to the GB23202205 on CedarFX's old footer. LHFX now receives cedarfx.com visitors and says it took over CedarFX's clients.
How old is CedarFX?
cedarfx.com was registered in March 2018 and broker pages appear from December 2020, so the brand traded for about five years before closing. Neither Cedar LLC nor Cedar Ltd has an incorporation date we could confirm.
Did CedarFX accept clients from the United States?
Its website said it did not, but the CFTC lists it for soliciting or accepting US customers, and US-based clients describe trading there in 2023 and 2025. Retail forex for US residents must go through firms registered with the CFTC that are NFA members.
What is an FSC Mauritius licence worth?
The Financial Services Commission of Mauritius is a real regulator, but a dealer licence held by a Mauritius global business company is an offshore, low-tier authorisation. There is no investor compensation scheme, and CedarFX's own footer said clients would not be covered by any compensation fund.
Is there a fake CedarFX website?
We found no active copy of CedarFX. Because the original brand has closed and its domain forwards to LHFX, any site now opening accounts under the CedarFX name is not the original operation and should be avoided.
Were CedarFX withdrawals paid in Bitcoin?
Yes. CedarFX's FAQ offered Bitcoin as the only withdrawal method and treated Bitcoin as its main deposit route, with card and bank deposits going through a third-party site to buy Bitcoin. That leaves little recourse, because crypto transfers cannot be charged back.
What should I do if I lost money with CedarFX?
Collect your account details, deposit receipts and Bitcoin transaction IDs, then contact LHFX in writing, since it says it holds former CedarFX accounts. Report the loss to your national regulator or police, and to the CFTC if you are in the US. Never pay anyone who promises to recover the money for a fee.
What we recommend
The practical takeaway from everything above.
Do not open an account under the CedarFX name. The original brand has closed, so any site still using the name is not the original operation.
- If you held a CedarFX account, sign in at lhfx.com with your CedarFX email as LHFX describes, check the balance against your own statements, and withdraw what you do not need on the platform.
- LHFX's footer says client trading accounts are opened with LHFX International Ltd, a company incorporated in Anjouan, Comoros, under an Anjouan Offshore Finance Authority licence, rather than with its Mauritius company. Know who holds your money before you deposit again.
- Keep every record: account numbers, deposit receipts, Bitcoin transaction IDs and support emails.
- Ignore anyone who offers to recover lost funds for a fee or asks for a tax before releasing money. Several CedarFX reviews are adverts for such services.
- US residents should use only firms registered with the CFTC and members of the NFA, which the NFA's BASIC search shows.
- If you lost money, report it to your national regulator or police, and to the CFTC if you live in the US.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed November 9, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
What traders say about CedarFX
Comments on CedarFX are posted on its profile
Nobody has commented on CedarFX yet. If you have traded with them, your experience helps the next reader decide.
Write the first comment