UPDATE: Cedar Finance is no longer in business. It’s so-called predecessor, Pine Options, has “Warning: SCAM ALERTS” popping up on search results from many other broker rating sites. So, this is your forewarning to be very careful before even depositing $1 into any business associated with Cedar Finance.
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Cedar Finance Review
There’s nothing more disconcerting in the world of binary options than a broker that simply disappears out of the blue. Nevertheless, it is a curious phenomenon that happens on a surprisingly regular basis. With no announcement, no apparent countdown and no specific explanation given, so many brokers simply vanish into the ether, without so much as a single word. Of course, the consequences of this happening have the potential to be severe – particularly for those who may have been heavily invested in their services at the time.
In the case of Cedar Finance, the word ‘strange’ really isn’t strong enough to describe this particular broker. Despite having once been incredibly popular and something of a household name, they were always controversial from the start and would only go on to be even more concerning further down the line. And as things stand right now, it’s pretty safe to say that anyone who was unfortunate ( or foolish) enough to sign up with Cedar Finance in the first place will probably wish they’d never come across this particular provider.
Trading with Cedar Finance
One thing that cannot be said about Cedar Finance is that they didn’t go all out when it came to promoting and pushing what they apparently had to offer. One of the most effective and influential marketing strategies they came up with was to publish a series of YouTube videos, showing prospective customers just how easy it is to make money. In fact, the presenter of one of the videos demonstrated how $100 could easily be increased to $200 in just 60 seconds. Or specifically, using the 60-second binary options trading feature, available via Cedar Finance.
Now, the first thing to get out of the way is that when and where anybody tries to tell you that you can make 250% profits in just a single minute with no prior knowledge and no risks attached, you are being played for a fool. And that’s putting it lightly. The stable fact of the matter is that while it is possible on occasion to make this kind of money, it is fundamentally impossible 99.99% of the time. And where it is possible, it is only possible for those with extensive skills, so talents and experience, and with an excellent binary options broker. As such, the fact that Cedar Finance gives the impression that pretty much anyone could achieve the same kinds of results immediately paints a picture of a provider that is not telling the truth.
Suffice to say, you only have to look in the comments below to see what most genuine traders think of these kinds of claims, though the language they have chosen to use in some instances is a little on the colorful side!\
Cedar Finance – Gone With the Wind?
Back in the day, are there were plenty who decided that Cedar Finance was indeed a binary options broker they could trust and had decent enough experiences along the way. As for ourselves, we cannot comment personally on what was available at that time or the way Cedar Finance conducted business, given the way in which we were not customers of theirs during their time in business. Or case you haven’t noticed, we’re speaking of Cedar Finance in the past tense in a manner you would assume meant that the company no longer exists. Which is at least half true, as while the company behind Cedar Finance undoubtedly has all the projects either in progress or planned for the future, Cedar Finance itself is no more.
Why exactly? Well, that’s a question Cedar Finance does not seem to have an answer for – not even for its customers. Some time ago, things started going a little awry for those training with Cedar Finance, as a general level of customer service declined and unusual instances and incidents started to climb. Specifically, a vast array of traders at all levels reported suddenly not being able to get into their accounts, despite having active balances. In some instances, newcomers reported making an initial deposit and subsequently never being able to access their funds. In others, requests for withdrawals were responded two with immediate and unexplained account suspensions, barring those concerned from accessing or withdrawing their funds.
This was all taking place several years ago and the whole thing quickly escalated. So while it’s not to say that Cedar Finance may not have been doing something decent enough at one point, it seems they were intent on going out with a bank…for all the wrong reasons.
Cedar Finance – A Scam to Avoid?
Unsurprisingly, Cedar Finance found its way into a great many binary options broker blacklists, and with the last majority of experts are warning traders at all levels to stay as far away from them as possible. Now, some insist that the misleading marketing materials like those mentioned earlier were entirely the work of affiliates, therefore cannot be laid at the door of the company itself. Which is, to be fair, complete and utter garbage. A simple fact of the matter is that if you are running a business under any of your affiliates, and they are spouting dangerous nonsense about the services you offer, it is the responsibility of the company to ensure they are stopped.
Along with misleading promises and funds going missing, Cedar Finance was renowned for enforcing heavy pressure tactics on new customers to accept as many outlandish and bonuses as possible. It doesn’t take a genius to figure out that this was all a means by which more customers could be lumped with the kinds of OTT terms and conditions that meant they would never be able to get hold of their money, let alone the bonus funds. The long and short of it being that as things came to an end, it seems that Cedar Finance was enforcing one final push to racking as much cash as possible, before going away at the dinosaurs.
Beware – Now it’s Pine Options
Just to move onto something slightly different though very much connected for a moment, anyone attempting to track down Cedar Finance as of right now will probably find themselves landing with an entirely different provider. Well, we say different, but with a name like Pine Options and a very similar logo, there really isn’t a great deal between the two, truth be told. The important thing to grasp being that as far as we’re concerned, Pine Options seems to represent another bizarre service provider you may be wise to stay away from.
To date, we’ve been unable to establish for whether Pine Options is simply Cedar Finance in disguise, or whether it is in fact a brand new service provider that has hijacked the Cedar Finance name for SEO purposes only. If you head over to the Pine Options website, you’ll find that pretty much every link and piece of written content across the entire website completely and utterly spams living daylights out of things with use of Cedar Finance. In its current form, he really is one of the most ludicrous sites we come across to date and looks to have been put together by rank amateurs looking to attract customers by playing on the name of a dead and buried service provider.
Though it would be interesting if it turned out that this was in fact Cedar Finance in disguise, given away much of the content is dedicated to bad-mouthing Cedar Finance and warning of scams. On the whole, it’s all very peculiar to say the least and something you could probably do without investing any time or money in.
The Final Verdict
Given the fact that Cedar Finance technically no longer exists, it really isn’t necessary to issue any warnings with regard to using their products or services. However, given the way in which they have performed (or failed to perform) in the past, it’s probably advisable to stay away from anything that has anything to do with Cedar Finance, both now and in the future.
While we can’t say exactly what’s going on over at Pine Options, we nonetheless only recommend checking out the website for yourself just to see how mind-scrambling the whole thing is. Compared to the 5-star brokers we know, Cedar Finance (or Pine Options) seems to make a high mark in the blacklist of brokers.
Make sure you do your homework when deciding on any broker. You don’t fall into the trap of signing up and setting yourself up for a disaster. We urge caution when choosing your broker and strongly recommend you go with one of the firms that have passed the Scam-Rank review process.
- Cedar Finance Once Had a Decent Reputation
- The Service No Longer Exists
- No Explanation For The Closure
- Predatory Sales Tactics
- Customers Barred Access To Accounts And Withdrawals
- Pine Options Seems Very Suspicious