CANNON TRADING Review

This review is the result of an independent investigation by the FXCanary editorial research team. We examined every publicly available piece of information on Cannon Trading Company, Inc., cross‑checking regulatory databases, corporate registries, client review platforms, and aggregated industry data. Our methodology is designed to surface both the broker’s self‑reported claims and the real‑world experiences of its users.

We began by verifying the company’s legal registration and physical address with official state records, noting the incorporation date and the rather unusual employee count of zero. Next, we conducted exhaustive searches across all major financial regulators—including the U.S. Commodity Futures Trading Commission (CFTC), the National Futures Association (NFA), the UK Financial Conduct Authority (FCA), and numerous offshore bodies—and found absolutely no licences or registrations. This finding immediately raised a red flag, and it heavily influences our overall risk assessment.

To gauge genuine client sentiment, we aggregated 561 reviews from Trustpilot and a much smaller number from other discussion forums. We systematically categorised mentions across ten critical topics, from customer support to order execution. The overwhelmingly positive feedback was a surprising contrast to the regulatory void, prompting us to scrutinise the reviews for patterns, potential manipulation, and consistency. Finally, we verified that no clone sites or impersonator domains had been reported in industry databases at the time of writing.

Cannon Trading Company, Inc. is legally domiciled in the United States, with a registered address at 12100 Wilshire Blvd, Suite 1640, Los Angeles, CA 90025. It was incorporated on March 14, 2019, according to California business records. This makes the firm a relative newcomer on paper, even though some client testimonials reference a 37‑year history—a discrepancy we explore below. The company’s corporate structure is opaque, with no public information about its directors, shareholders, or ultimate beneficial owners.

The registered address is a suite in a multi‑tenant commercial building on Wilshire Boulevard, a prestigious but common location for small professional service firms. What stands out most starkly in the company filings is the reported number of employees: zero. This could mean Cannon Trading operates as a virtual office with all staff working remotely as independent contractors, or it may indicate a shell company structure. Either way, a broker with no formal employees handling client funds and trading infrastructure is highly unusual and merits caution.

Client reviews suggest a hands‑on, high‑touch service model involving staff members like Ilan, Kimberly, and Mark. Yet the employee figure hints that these individuals might not be direct employees of the corporate entity; they could be contractors or affiliated through another arrangement. This disconnect further complicates any assessment of who is legally responsible for client deposits and service quality.

After checking every major regulatory register, FXCanary can confirm that Cannon Trading holds no valid financial licence anywhere in the world. It is not registered with the CFTC, the NFA, the FCA, CySEC, ASIC, or any other recognised financial authority. This is a critical deficiency for any firm accepting client funds and offering leveraged trading products.

For U.S.‑based futures brokers, registration with the CFTC and membership in the NFA are mandatory. Operating without them is illegal in the United States for any entity that conducts futures business with retail customers. The fact that Cannon Trading claims a Los Angeles address yet lacks these basic registrations raises serious questions about the legality of its operations. Even if the firm only services international clients or qualifies for an exemption, it has a duty to clarify that to potential customers—and we found no such clarification.

The practical implications for traders are severe. Without regulation, there is no requirement to segregate client money in top‑tier banks, no external audit of financial statements, and no investor compensation scheme. In the event of insolvency or fraud, clients would have little recourse beyond expensive private litigation. This lack of protection is the primary driver behind the Guarded scam risk score of 37 out of 100—a rating that indicates a brokerage with an elevated risk profile that should only be considered by traders who fully understand and accept the possibility of total loss.

Cannon Trading does not publish a breakdown of its account tiers, minimum deposits, leverage levels, or margin requirements. The only hints come from user reviews, which mention personal futures trading accounts, corporate futures trading accounts, and demo accounts. The absence of a formal account structure is itself a transparency red flag; reputable brokers typically provide clear, upfront documentation of their offerings.

Without this information, potential clients cannot easily compare costs, assess whether the leverage on offer is suitable for their risk tolerance, or understand what protections (if any) are afforded to different account sizes. The reviews suggest that the broker assigns a dedicated point of contact to each client, which may imply a high‑touch, customised service model rather than a standardised tier system. While this can be beneficial for experienced traders with specific needs, it also means terms may be negotiated on a case‑by‑case basis, leaving less savvy clients at a potential disadvantage.

The minimum deposit requirement remains a mystery. One reviewer mentioned a “U.S. account from New Zealand,” indicating international funding is possible, but the amounts involved are not disclosed. For traders considering this broker, we strongly recommend requesting a full written account agreement and clarifying all fees and margin terms before transferring any money.

Information on deposit and withdrawal methods is similarly scant. From user reviews, we know that wire transfers are accepted from both domestic and international clients. One reviewer specifically praised the ease of funding a U.S. account from New Zealand, and no complaints were recorded about delays, hidden fees, or blocked withdrawals. In fact, every funding‑related mention in our review database is positive.

This unblemished record is encouraging on the surface, but it must be weighed against the small number of reviews that address funding directly—only three. With so few data points, it is impossible to draw firm conclusions about the reliability and speed of withdrawals. Moreover, the absence of any mention of withdrawal processing times, fees, or available methods on the broker’s website means clients rely entirely on the promises made during account setup.

Traders should be aware that unregulated brokers are not bound by standard settlement periods or anti‑money‑laundering protocols that regulated brokers follow. While no problems have surfaced to date, the lack of formalised procedures introduces an element of uncertainty. We advise clients to fund accounts only with amounts they are prepared to lose entirely and to withdraw profits frequently to test the system.

Cannon Trading focuses narrowly on futures contracts. The reviews mention “trading platform” settings and connectivity, but they never name a specific platform. This suggests the broker may use a well‑known platform like NinjaTrader, Sierra Chart, or the CQG suite, which are common among futures introducing brokers. The hands‑on support described—where representatives use remote desktop tools to configure platform settings—points to a reliance on third‑party software rather than a proprietary system.

The lack of platform transparency is a double‑edged sword. On one hand, using established platforms can provide robust execution and deep market data. On the other, not knowing which platform is being used until after account opening makes it difficult for traders to perform due diligence on execution quality, downtime history, and data feed reliability. The reviews praise staff assistance in getting platforms “dialed in perfectly,” but this also means the client experience is heavily dependent on individual staff knowledge rather than documented procedures.

No asset classes aside from futures are mentioned in any client feedback or marketing material we could locate. This specialisation can be an advantage for dedicated futures traders, but it also limits diversification and suggests the broker may not have the infrastructure to support multi‑asset trading. For anyone looking to trade forex, equities, or CFDs, Cannon Trading would be an inappropriate choice.

Cannon Trading does not publish a commission schedule, spread list, or any other fee disclosure. The only fee‑related feedback comes from 12 positive mentions in reviews, where clients express satisfaction with the pricing they received. One reviewer stated that a representative “got me the price I wanted,” implying commissions are negotiable rather than fixed.

While negotiable pricing can work in favour of high‑volume traders who can bargain for better terms, it is a red flag for transparency. Without a public fee structure, clients have no way to compare the true cost of trading against competitors, and they may unknowingly pay above‑market rates. The absence of any negative fee comments is notable, but it may simply reflect that the broker’s clientele does not focus on costs or that the sample of fee‑specific reviews is too small to be meaningful.

In addition to commissions, futures traders must consider all‑in costs: exchange fees, NFA fees (which would not apply here since the broker is not registered), data feed subscriptions, and overnight margin premiums. None of these are addressed by Cannon Trading in any public documentation. We recommend that any prospective client request a complete, written breakdown of all costs before funding, and treat the absence of such a document as a deal‑breaker.

The 561 Trustpilot reviews form an overwhelmingly positive body of feedback, earning the broker a 4.9‑star rating. Customer support is the clear standout, with 117 positive mentions praising responsiveness, technical skill, and a genuine commitment to helping clients. Reviews consistently name individual staff members, creating an impression of a small, dedicated team that prioritises relationship‑building.

Platform experience, speed of service, and trustworthiness also receive high marks. One reviewer wrote that the broker has “been established and reputable for 37 years,” while another was impressed that the representative “didn’t hesitate to tell me what I may not want to hear.” A handful of comments on funding and order execution are uniformly positive, and there are no complaints about blocked withdrawals, hidden fees, or poor execution anywhere in the dataset.

However, it is important to interpret this feedback within the full context of our investigation. All reviews originate from a single platform, and there are zero reviews on Forex Peace Army or other independent forums where unfiltered complaints often surface. The pattern of exclusively glowing reviews is statistically unusual and could indicate that negative feedback is being suppressed or that reviews are curated. Additionally, no review addresses the glaring regulatory vacuum, which suggests clients either are unaware of the lack of a licence or have been persuaded that it is not a concern.

FXCanary’s independent research is corroborated by aggregated industry data, which consistently flags Cannon Trading as a high‑risk entity. The complete absence of a regulatory licence is the dominant factor, but other signals—such as the zero‑employee registration and the virtual office footprint—contribute to a concerning profile. In industry databases that track clone sites, withdrawal complaints, and scam reports, Cannon Trading does not appear to have any active alerts, yet the lack of positive regulatory confirmation outweighs the clean complaint record.

Our integrated Scam Risk Score of 37 out of 100 places the broker in the Guarded category. This is not a definitive scam verdict, but it indicates a brokerage that prudent traders should approach with extreme caution. The score reflects the reality that, while no concrete evidence of fraud has emerged, the structural holes in the company’s setup create an environment where client funds could be at risk without warning.

It is worth noting that some traders knowingly accept higher risk for the sake of better service or personalised attention, and the reviews suggest Cannon Trading delivers on those fronts. However, any decision to trade with an unregulated broker must be made with a full understanding that the normal protections—segregated accounts, insurance, external dispute resolution—are entirely absent.

Cannon Trading presents a paradox: exceptionally satisfied users against a background of minimal corporate substance and zero regulatory oversight. For an experienced futures trader who has done direct background checks on the individuals involved, has the means to withstand a full loss of capital, and values hands‑on support above all else, the broker might be an acceptable, if risky, counterparty. For everyone else, the advantages of strong customer service are far outweighed by the dangers of entrusting money to an unlicensed entity.

If you are considering opening an account, there are several non‑negotiable steps you should take. First, request—and independently verify—the full legal name, registration number, and regulatory status of the entity that will hold your funds. Second, insist on a written fee schedule and compare it against regulated competitors. Third, deposit only a minimal, affordable amount initially and test the withdrawal process thoroughly before scaling up. Fourth, never invest more than you can afford to lose entirely, and avoid rolling over profits into larger positions until you have proven that funds can be withdrawn without friction.

In the court of public opinion, Cannon Trading has earned a loyal following by delivering excellent service. But in the court of financial safety, it lacks the basic credentials that regulators around the world require to protect the public. FXCanary’s Guarded rating reflects this tension: the broker is not an outright confirmed scam, yet it operates outside the safeguards that should define any modern brokerage. Approach with eyes wide open, and if in doubt, choose a regulated alternative.