review - broker to trust or a scam to avoid?

cfdstocks is a binary options broker that uses the famous SpotOption platform. But can you rely on this company? Read our detailed scam test review.


CFDStocks is an unlicensed broker that is not regulated by any regulatory body. That means that all deposits made here are not insured in any range (CySEC licensed brokers are protected up to 20 00$ from bankruptcy). The broker showed up on the market for the first time in 2016, so it does not have a very extensive background. Let's have a quick look at their basic offer.
Regulated by:-
Minimum trade:5 USD
Minimum deposit250 USD
Demo account-
Types of optionsClassic high/low (payouts around 70%), 60 seconds, one touch, ladders
Advanced functions-
Trading assetsForex pairs, stocks, commodities, indexes - Trading platform

CFDStocks features in their offer SpotOption platform. Therefore traders can trade around 180 assets and choose short expiry times such as 60 second, 90 seconds, 2 minutes, 3 minutes, and 5 minutes or they can go for long-term options. The platform is very well known in the world of trading, so I suppose no more introduction is needed. I would just add that the payouts are average, or below average (around 70%).

CFDStocks - Bonus money

The broker tries to attract traders with a tempting welcome trading bonus. In order to be capable of withdrawing this bonus, traders need to turnover 30 times the total amount of their deposits and bonus money. Accounts with the bonus are regarded as bonus accounts. Please read the following statement taken from their terms and conditions "Any bonus accounts will be only allowed to withdraw their funds once they’ve met the terms and conditions set within the trading volume". That raises a question. Can a trader withdraw his own money without making the turnover once he accepts this bonus? Because to me, it seems like not. So it is not much of a surprise why so many people recognise as a scam. You should take a lesson from this example and always read the T&C.

Is a scam?

We definitely do not consider to be an honest and reliable broker. It is one thing not to be regulated and to offer services without required permissions (against which we strongly oppose). But the fact that they try people to lure/scam into opening a trading account in the vision of a free additional bonus money is extremely disturbing. Anyone who takes trading at least a bit seriously should always trade with regulated brokers. There are far better companies on the market with a superior offer than to risk an unlicensed broker that launched just a year ago.

Final verdict: Not recommended, reliable competition is considerably further.
Hamzah Barik
September 07, 2017 AT 10:01 / reply
I would greatly appreciate your advice in future. I just registered with CFDStocks and it seems it has all the ingredients of a scam. My account stopped and the broker stops contacting me despite numerous emails I wrote to him.
September 07, 2017 AT 10:08 / reply
Hello Hamzah, You can follow our website or our FB page to know about every new information we publish. We are sorry to hear that CFDStocks does not respond to your messages. Have you already make a deposit?
Hamzah Barik
September 08, 2017 AT 09:28 / reply
Yes. USD1250 so far. I spoke to them to let me learn how to trade but they just traded without me knowing. First one lost USD500. Then another person took over and won some. According to them, I was given a dollar to dollar bonus as a promotion for joining CFDStocks. My balance now stands at USD2250. But I tested to withdraw my money out but the systems won't let me. What can I do now Michael?
September 08, 2017 AT 09:39 / reply
Hello Hamzah, Check their terms and conditions for the bonus, they should be on the site. See how many times you would need to rollover your balance in order to withdraw your money. Did they already reply to your last messages? (If not how long is it from the first message on which they didn't reply?). It would be good to ask them whether you can withdraw your own money which you have deposited, without the bonus (so you would basically reject it and all winnings which were made with the bonus). The most important thing is communication when you are in such a tight spot if they do not respond, you have unfortunately a very little chance to see your money again. Please update me with new information.
Hamzah Barik
September 21, 2017 AT 02:43 / reply
Hi Michael, I wrote to the support department and even the broker (who gave his email address) but none ever replied. I have to resign to fate that I had been cheated or scammed or whatever you might call it. I still got calls from other binary brokers with the same tactics and persuasion and it just mirrored the same experience I had. Even IQ Option that you recommended also had traders left bewildered of not getting back their winning withdrawals and brokers asking to top up more money...almost the same modus operandi. Now, I am starting to feel that binary options is not for real. It is just a sting getting people to write reviews for them to get traders fall into the trap. Too many internet cheats. I dont know what to believe anymore, really.
September 21, 2017 AT 07:09 / reply
Hello Hamzah, I am sorry that CFDStocks scammed you. Such brokers tend to even share your contact information even tho they shouldn't, but as you can see they don't oblige the rules much. Why do you think that about IQ Option? I am very satisfied with the broker, no problem with them so far, payments always on time and the price of assets always corresponded with my MT4. Not a single person from the web had any problem with them. There is not a single broker that does not have at least few negative reviews on the internet. They might be made by traders, but unfortunately also by competition, so it is very hard to determine broker's trustworthiness. Anyway if you have any problem with IQ Option, just give me a message and I will help you to sort it with them.
Mrs Elizabeth Reachill
December 01, 2017 AT 17:34 / reply
I have the same experience as my"financial advisor" traded two stocks and I supposedly had GBP 8,600 which I checked in my account.But when I tried to contact him,I was told he was sacked. Then I tried to withdraw my initial deposit,I was told that my account was linked with a Bonus which means I cannot withdraw unless I traded some more. They have a formula:Bonus +initial deposit x30= minimum required to withdraw. Si when I said I just want my initial deposit and am will to leave the so called"bonus" CFD stocks have not responded until I said I would report them to the FCA,Financial Ombusman & Action Fraud. I have had numerous calls from "advisors" but have not answered them as per advise from my banl Fraud service when I reported this scam to them yesterday.I am yet to see what they can do for me. If you paid by credit card,you may be able to claim it backif you think you were scammed. Hope this helps!
Paul Cochez
September 20, 2017 AT 12:10 / reply
I have the same experience, they trade with your money without your permission and when you want to withdraw some money, they refuse and don't answer your emails. I call them thieves!
Kees Bijleveld
September 12, 2017 AT 12:59 / reply
Hello Michael, CFDStocks bought last year in September AAOptions and my account was also taken over. On this account is an amount of € 127.792 More than a year I try to get my money back, but to get this money I have to pay an turnover of € 10.200 on their account into Sparkasse Berlin and then, about after 2 weeks, I'll get this money + the amount on my account - totaly about € 138.000 the say. When I read the reviews about CFDStocks I'm not sure of paying the turnover first. I'm afraid I'll loose all the money. What advice cn you give me? Tomorrow is the last change to pay the turnover, after tomorrow I have to pay dubble amount. I called the Sparkasse Berlin, but they don't give me any information. Kind regards, Kees
September 12, 2017 AT 14:31 / reply
Hello Kees, You have found yourself in a very tricky situation and their conditions seem very weird. Now the question which you should ask yourself is "Am I willing to risk 10.2€ to have a chance to get 127€"?. I can not answer it for you. I would love to help you somehow more, but there is not much I can do about this broker. That is also the reason why they are listed on our website in a category of untrusted brokers.
September 23, 2017 AT 08:11 / reply
I deposited £250. I never traded. I sensed something amiss and checked reviews. I am trying to recover my deposit. They are not approving my withdrawal request. The phone number for customer support does not work. They are not answering the many emails I sent. I sent in all documentation including traders declaration and still nothing. These crooks should be in prison!
Hamzah Barik
September 25, 2017 AT 04:02 / reply
Hi Ash, CFD Stocks are just professional cheats and scammers. I can only assure one thing, you will never get your money back. Say bye bye to your money sent to CFD Stocks bastards. They are ruthless and no conscience when it comes to cheating people. You can try all of them (binary options) and modus operandi is the same. They don't see you and they don't care about you. I have reservations about making money through internet especially if they don't have an address near your house! I am definitely hands-off on binary options! Regret and painful.
Hamzah Barik
September 26, 2017 AT 10:49 / reply
Hi Ash, I have got one important info or rather incident today which you need to act fast. Today, a guy speaking in heavy English accent called me asking me that he made a mistake and my binary trading account should be in the novice category and not in the professional category since I did not know how to trade. So this guy said he will be putting my money back into my Master card so that I can rejoin back as a novice trader. He even sent me through sms an OTP 6 digit no. bearing my bank's logo. He asked me for my card details which I am sure I have provided before. Nevertheless, I still provided them thinking this time CFDStocks is getting their act together. After a series of question and answer sessions about my credit card, suddenly he asked me about my user ID and my bank pin number. That gave them away. This is something the bank advised not to give to anybody through the phone. As he was talking, I cut off the conversation and called my bank. My bank upon my instruction to stop my card transaction immediately. And the bank told me that someone had tried to withdraw money from my card / bank but was rejected. I was very lucky that I alerted my bank on time. I will be getting a new card. From this experience, it seems CFDStocks is also giving away credit card information to their criminal affiliates to further siphoned money from your card which is linked to your bank. My advice is if you have registered with them and giving credit cards details please please please change your card immediately now. Good luck guys. Best regards, Hamzah Barik
November 02, 2017 AT 08:39 / reply
Hello Kees I too was the victim of a scam of 80000 euros sent by bank transfer.
Hamzah Barik
September 13, 2017 AT 04:26 / reply
Despite all these complaints about them operating with deception how come the internet authority is not at all doing anything to circumvent these culprits. This is an illegal omission. Many will fall prey to this kind of ploy. Mike, is there anything you can do to stop this?
September 13, 2017 AT 09:03 / reply
Hello Hamzah, Unfortunately, there is not much I can do about it. All I can do is warn people about their practices on this website with the hope that a lot of people will see it. If you want to spread the word about this broker you can share it with your friends on social services, we would appreciate it :).
Suman Nair
September 17, 2017 AT 10:44 / reply
Hello Micheal, Hope u r doing well. Thank god I saw this article. Otherwise, I would have deposited money. Which broker do u suggest me to trade since I am very much fresher into this? I wish to start with the minimum amount. I appreciate your suggestions.
September 17, 2017 AT 15:25 / reply
Hello Suman, We are glad that our article about this scam helped you. If you want to start with a low minimum amount, you can go for IQ Option. Which is currently one the best binary brokers in the industry.
Paul Cochez
September 20, 2017 AT 12:17 / reply
I tried very carefully whit the minimum account of 250€ they made some money whit it but as far I can see not in a correct way, my account was growing without me doing anything.... When I asked for a payout (just as a test, because I wanted to know, do they really pay me what's on my account) they came whit a lot of reasons not to pay me my money... Lucky me that I was testing them before putting more money in it, the guy's name was Jack Cruz, who was forcing me to put 8000€ extra on the account which I did not-lucky me-
October 16, 2017 AT 13:55 / reply
Oh my word, I am also a victim of cfdstocks. I deposited $250 and opted for the automated/robot trading and there has been some activity in my account without my doing anything. Just now they called me to deposit another $1000 for 10 trades so that my account can be managed by someone called Elliot something who would make profits for me. They even sent me an SMS with an OTP for a deduction of the initial $100 and then after 24hrs I would say if I was happy or not with the profit and then proceed to deposit another $900 to make it a $1000. Oh wow, it seemed so legit when I saw it initially. I am so happy I came across this site. No more forex for me, there are just way too many scams out there. Mike, please keep doing what you do for people like us. There is nothing better than awareness
October 16, 2017 AT 17:22 / reply
Hello Kay, I am very happy that my site helped you. You are right, the more people know about these scams, the less money such brokers will make. Have a good day and if you can, please share this info with your friends. Cheers! Michael
Hamzah Barik
October 17, 2017 AT 02:41 / reply
Hi Kaya, After you have deposited your money topping up, the next thing that would happen is that there will be another con job. A person would introduce himself from the accounts department and said that a mistake had been made and they want to refund your money and then re-register a new one. Then, to make it looks real, they send an OTP from Mastercard (which is fake) But first, they will ask all your banking details including user ID and pin number. I managed to avoid getting hacked by giving them false info. Then the con job went on again by letting you hear them as if he was talking to your card bank about transferring your account and all those stuff related. But while all this was going on, they were in the process of hacking your accounts. I called my bank and I was informed that someone tried to have access or transaction from my accounts. I get the bank to cancel my card immediately and replace with a new one. Those guys claiming from CFDStocks never called again when they realized we knew what was going on. On top of scamming you, they also tried to steal from your accounts like seasoned criminals. I think it is time this industry be totally regulated and every binary options business before taking to the internet be audited fully by the governing security body. Investigate and prosecute those frauds and cheats. I will never trade again on the internet unless I know I can touch and see the real company exists. It would be advisable to trade in your own country where you can identify the office location, the broker in person and where the real transaction does take place. Regards, Hamzah Barik
December 01, 2017 AT 15:25 / reply
I am really sad right now, cos this same Elliot guy has my 1000€ and had stopped replying or picking my calls, all my efforts to withdraw has been futile and I borrowed that money to invest, now i have to figure out how to pay back the money and still feed my children, I'm really sad right now! Why cnt these people be regulated or stopped? Families are suffering because of this!
November 08, 2017 AT 09:36 / reply
Thanks everyone, I actually just had a text from a Jack saying he deposited $3500 into my account, I haven't given out any account details. So IQ option are the way to go??
November 08, 2017 AT 11:35 / reply
Hello Andew, IQ Option is certainly one of the best brokers on the market for the moment. But of course, there are also other possible options, but most definitely not a broker
November 08, 2017 AT 13:09 / reply
Hi you Guys, I have also been scammed by this fake company CFD stocks. I have reported them to CySEC and the FDA, and the British fraud action police, they do not have offices in London, no such address as pacific sunrise? I have investigated them. If you have been affected by them please do as I did and report them to the FCS and CySec these organizations are very helpful and are actually looking into investigating them. So please add to my report as these slimeball financial predators have to be caught and shut down.
Claudia Archer
November 13, 2017 AT 15:36 / reply
Dear Michael I have been scammed by these predators (Jack Cruz From CFD STOCKS.COM Elliotte Pearce, etc.), I have reported them to the british fraud action police fca and cysec. I have an account where I am blocked from withdrawing my own money, I will not let any one trade due to the fact that they are a scam. I had them call me up begging for my password, and I refused to give it. I believe they trade peoples money without them knowing. Your site was helpful, what are the chances of me getting my £250. Back? Claudia.
November 13, 2017 AT 17:03 / reply
Hello Claudia, I am very sorry to hear that you have such a bad experience with them and I definitely approve that report, hopefully, more scammed people will join you. Unfortunately, I am sorry to inform you that you have a very low chance to see your money ever again. But that is the harsh truth.
November 14, 2017 AT 16:44 / reply
hi they have blocked my IP so I cant even see their online chat and they don't even pick my phone up. I made a trade now the size isn't the issue but when I made the biggest with trade the web site froze and my trade went through and wasn't able to approve or reject it. I had a 250 dollars account, not fussed but how do I take this further ?
November 14, 2017 AT 21:57 / reply
Hello, Try to visit their website from another IP and ask for a withdrawal of your money. If that doesn't work out, report them to a financial institution in your country.
November 15, 2017 AT 14:11 / reply
Hi Michael, I have also encountered the same problem but the way I was tricked is different. I was reading the news and found a link to which had an image of Stephan Hawking, a theoretical physicist. I clicked on the link and there was a video of Hawking explaining his invention of a software called hawkcodes that helps people to make money in binary trading. I registered and it directed me to cfdstocks binary trading website. Of course, it asked to deposit a minimum of 250 EUR to benefit from hawkcodes software to easily make money. I deposited the money from my credit card. I had no experience of trading before. So I didn't trade. When I registered on hawkcodes they sent me a mail which says I will find a video which explains how to benefit from the software. Since I didn't find the video or any written description, I sent them a mail asking for help. They never replied for two days. After two days I received a mail failure delivery message. Then I realized that I was tricked and immediately called my bank and blocked my card. A person called Jack has also called me from cfdstocks and explained that he is my account manager and will help me how to trade. He started to ask information including my age, income, how much money I earn, my bank deposit, etc. I was already so suspicious and refrained to reveal my information. He asked me if I want to trade today and I said I am busy. He made an appointment for tomorrow and ended the call. After few minutes I received a mail from Jack which says he traded and has made some money. I realized that they have access to the details of my cfdstocks profile including the password. I logged in and ordered to withdraw my deposit. I also wrote Jack to help me withdraw the deposit but he told me to contact customer support. I wrote their customer support and I didn't get any reply. I tried to call and never reach them. Now they have already blocked my cfdsotcks profile and I can't login and they don't reply. I don't think I will get my money back but I have asked my bank to help me.
Mrs Elizabeth Reachill
November 27, 2017 AT 17:51 / reply
Hi, I opened an account with CFD stocks in June2017.I sent 10,500 to trade with the financial advisor who said he will help me trade a couple of times then I can do it myself aferwards. We traded x 2 stocks on long term so by the end of Oct,i sent him an e-mail but this bounced back,when I finally contacted the support CFD,I was told by one of the "personal manager" that my advisor has been sacked! Anyway,by that time I requested to withdraw the amount sitting in my account,it took a week to confirm my account (tho they have all the details when I opened my account) It took another week for them to inform me that my account was linked with Bonus so they gave me a formula Bonus+initial deposit x30 before I can withdraw any money. Then I decided I wanted to close my account so I e-mailed them to say that I wanted to withdraw the initial amount only of 10,500. I e-mailed them so many times with no response until today when they refer me to Terms & conditions even tho I kept saying that I did not agreed to Bonus linked account. So I am at a lost as how to go about in putting a stop to this scam?? I have documentation of all my correspondence and names of the financial adviser tho I was told they were maybe their real names??
November 27, 2017 AT 21:27 / reply
Hello Elizabeth, I am sorry to hear your bad experience with this scam company, the described process is exactly how they operate. Try to contact financial body in your country to get help.
Keith Nealson
January 16, 2018 AT 21:59 / reply
CFD got me for 10k AUD. When they could not get me to deposit more money, contact ended. Now cant use the account at all, and if I try to got to trading, I come under a virus attack. Beware
June 20, 2018 AT 08:19 / reply
I can totally confirm most of the comments I read here. Here is my full story – as a CLEAR WARNING not to invest a single USD or EUR into! • I started with only € 300 – just for testing out the functionalities. • Soon, added a bonus of € 100 to my account – which I found nice (as this represents 33% of my investment). • Then, a nice (German-speaking, as I speak German) lady (Anna Weber) called me to explain that I will get a nice return (bonuses) if I increase the invested amount to € 2,500 – which I did. • Every 2 weeks (!) bonuses of € 285, € 264, € 249, € 1,341, € 373 and € 238 were added to my account – which, at my end, created quite some confidence in the company. • Then, the lady talked me into increasing the amount to an overall amount of € 10,000 (incl. all bonuses received, I had to increase my investment to about € 7,500) – as then, they can “actively manage” my account (so I would not be allowed to trade because they would use my money to trade and would credit the respective bonuses to my account). • I did that and the a couple of more bonuses were credited until my account increased to € 17,899 (!). • That was the moment that I decided to withdraw the amount exceeding the required € 10k, i.e. I wanted about € 8k back (that would have been more than my overall investment)... • This withdrawal request was not answered or executed for 3 months – in spite of a number of tracers and bad emails – with Anna also not returning any of my calls – and nobody picking up the phone when I tried to call the official “hotline” of CFDStocks. • Then, a Gerd Reed (also speaking German) called me and introduced himself as my new Account Manager as Anna Weber got a nice job at CFDStocks in Singapore. • He explained to me that their Finance Department has not executed my withdrawal request as – according to point 12 of their Terms & Conditions which I obviously had accepted by ticking the respective box when opening my account – I need to - Either repay all received bonuses (in my case, about € 10,500) by wiring them this amount (sic!) to get back my full account balance of € 18k or - I need to trade the 30-fold amount of my balance as turnover within 30 days (i.e. € 18k x 30 = € 540,000!). • Only then, I will be able to withdraw my total balance. • Option 1 (wiring them further € 10,500) was way out of question, so I decided to try Option 2 (trading a turnover of € 540,000 within 30 days). • I was lucky for a number of trades, so I even increased my account balance to above € 18k. • Then, Gerd Reed called me again, warning me that I will lose all my money as it is technically impossible to trade € 540k within 30 days with a disposable amount of 18k. • However, I continued trading for another 2 weeks with mixed success (my balance was still around € 17.5k) and yesterday, Gerd called me again to tell me that I can stop trading as this turnover does not count for my 540k target – as I’m only trading on a demo account (unbelievable, at this stage!) due to the fact that I can’t even use or access my real account as I opted for the “managed account” version (which is why the money on my real account is blocked in favour of CFDStocks….). • I really got angry and shouted over the phone that this is absolutely incredible and that I will go to the police and have this case prosecuted. • That’s why they immediately blocked my account and today, I can’t access the website anymore. • So, in a nutshell, I lost about € 7,500 of my money – not to speak of those about € 10,500 in bonuses which I only fictitiously received on this “account”. BE WARNED, DON’T INVEST A SINGLE DOLLAR OR EURO INTO THIS SCAM CFDSTOCKS.COM!
June 20, 2018 AT 16:40 / reply
Hello Andy, Thank you for sharing your experience with Hopefully, it will help other readers when making a decision. In case you would like to try recovering your funds from this company please let us know and we will point you in the right direction.
July 26, 2018 AT 22:27 / reply
I also lost $345,000 to They are scammers!! I lost my life savings to this fools. they were calling me to invest more till I wanted my money back and I could not get a dim back. I was depressed for over 3 months not knowing what to do with my life anymore. DO NOT INVEST WITH THEM> THEY ARE SCAMMERS
June 20, 2018 AT 20:51 / reply
Thanks, Michael, one of your colleagues of your chat section was so kind already to point me to the right direction.
June 21, 2018 AT 06:39 / reply
You are welcome. Okay :)
September 24, 2018 AT 09:46 / reply
And today is a celebration day for me: After weeks of fighting via VISA (with the bank servicing CFD Stocks) - supported by the lawyers of - I received back all my EUR 4,735 which I have paid to CFD Stocks via my VISA card! So, thanks again to you and your colleagues, Michael! I will happily pay the 20% success fee to Best regards, Andy
September 24, 2018 AT 09:58 / reply
Hello Andy, You are welcome. That's great, love to hear that you got your money back :)
sven olesen
February 23, 2021 AT 11:49 / reply
Dear Michael, is there anybody out there who knows the real address of CFD stocks and PlusOption, then let me know. I have heard that they are working out of israel and that they have the same management. Also I have been told that they have another name in Israel.(Galaxy) I myself have been scammed for a large sum of money from one of their brokers named James Peterson Regards, Sven
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