Crestsfinancial.com Review: this is the website of a Forex, Binary Options, and cryptocurrency broker that alleges to be based in the United States. Is it safe to invest funds in Crests Financial? Read what our investigation reveals about this company before doing anything else.
The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.
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When we went through the website, the broker claims to be operating out of the United States of America. Trading in the US is under the jurisdiction of the National Futures Authority (NFA). All brokers in this region should be licensed by the commission to be viewed as legal. But when we checked, there was no mention of it.
Also, it mentions the ASIC in passing. Since there is a company in Australia named Crest Financial Services, it is important to know that it is not related to this broker in any way. Trading with a Forex broker that is unlicensed poses many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well. Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.
Advantages of Crests Financial
Only the ROIs may be tempting to traders and investors on the page of Crest Financial. Depending on the type of investment made, traders can get about 20% to 40% after 30 days. Also, clients are promised reliable protection and instant payments.
It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.
However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.
Crests Financial Trading Platform
There is no worthy information about the trading platform used by the broker. Usually, readers and traders are advised to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.
Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.
These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.
Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.
Trading instruments offered to traders are forex, binary options, and cryptocurrencies. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.
The maximum leverage offered and spreads used are not mentioned. Returns on investments are 20%, 24%, 30% and 40% for the four types of accounts available.
Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.
Deposit and Withdrawal methods on Crests Financial
The means of making deposits and withdrawals with this broker are not mentioned. We are discouraged that e-wallets are not named because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.
The minimum deposit required to trade with the Forex broker is $500, which is higher than the average of $100 – $250 common among legit brokers or not. Withdrawal fees are not stated but the broker mentions that it does not allow withdrawals less than $1,000.
This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.
Blacklisted in New Zealand
We found that the broker has been mentioned as a possible scam outfit by the New Zealand regulator, the FMA.
Is Crests Financial Licensed?
No. Crests Financial is not a properly licensed brokerage. It is not permitted to trade in the US by the National Futures Authority (NFA).
Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.
To contact the broker or an agent of its customer care service, dial +1863 821 9100, +1 9293 148647 or send an email to email@example.com.
As an unlicensed brokerage targeting regulated markets’ clients, we rate Crests Financial low. Besides this, the website does not inspire confidence as there is no clear mention of the services offered. The returns promised may be tempting but the minimum deposit required is high and withdrawal conditions are unclear.
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- High Returns On Investments
- Unlicensed Broker
- Blacklisted Company
- Unclear Trading Services
- High Deposit Minimum Requirement
- No MetaTrader Platform Supported