CADFIRA has been flagged by Ontario Securities Commission for "Unregistered/Unlicensed entity offering financial products or services". CADFIRA (aka CADFINRA, CAD-FINRA, CAD-FIRA and CADFIN-RA), found at www.cadfira.com, www.cad-fira.com, www.cad-finra.com, www.swkinvest.org, CADFINRA.com and
CADFIN-RA.com is not registered in Ontario to engage in the business of trading in securities. This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
My withdrawal request from CADFIRA has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: Clear documentation|Copy trading available
Cons: Wait times can be long during peak hours|Research section could be deeper
I wanted to transfer my portfolio from another broker to CADFIRA. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Easy to use platform|Fast execution|Smooth onboarding|Helpful community forum
Cons: None so far
I lost a significant amount because CADFIRA did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Low minimum deposit|Easy withdrawals|Reliable uptime|Segregated accounts
Cons: Account statements could be more detailed|Onboarding videos are outdated
I joined CADFIRA through a forum discussion and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Comprehensive tools|Risk management tools|Dedicated account manager|Competitive fees
Cons: Onboarding videos are outdated
After seeing ads for CADFIRA online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Alberta Securities Commission. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Flagged by Alberta Securities Commission|Cannot verify credentials
I opened an account with CADFIRA for about ten months ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Good analytical tools|Economic calendar
Cons: Currency conversion fee exists|No crypto staking
I signed up with CADFIRA after hearing about them at a conference and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.
Pros: Risk management tools|Full transparency|Good mobile app|Educational resources
Cons: Onboarding videos are outdated|Slow to add new assets
After doing some research AFTER the fact (I know, I should have done this first), I discovered that CADFIRA is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Pros: Initially responsive customer service
Cons: No regulatory oversight|Money disappeared|Fake testimonials