Today’s foreign exchange markets attract lots of people, offering tremendous opportunities to earn money, but, at the same time, online forex trading is a risky venture; this is mostly because of the volatile nature of buying/selling prices and a lot of fraudulent brokers.
Our company tries to unveil scamming traders from – Germany + UK. Therefore, in the following CresCapital review, we will explain why investing with this phony broker is a bad idea.
Let’s first have a quick glance at this fraudster’s offering. When you access its website, you will find plenty of unproven statements and misleading information, such as that CresCapital is a trustworthy trading company recognized globally and rendering the latest technology and industry-leading services.
In reality, everything related to this forex provider is smoke and mirrors, and you will see why. So, please continue reading.
To add to the foregoing, we strongly advise you to ignore brokers such asAXCapital,Northern Bits, andAllinvestFX.
|Broker status:||Offshore Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||Ethereal Group LLC|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Supported Platforms:||Web Trader|
|Minimum Deposit:||250 USD|
|Types of Assets:||Indices, Forex, Energies, Stocks|
|Free Demo Account:||No|
|Accepts US clients:||No|
Is CresCapital Licensed Broker?
Following our previous argument, the first sign of an untrustworthy company is having no licenses and regulations. After we had checked the respective financial market regulators, we didn’t find anything matching CresCapital. Otherwise stated, this broker is unlicensed and unauthorized to provide online financial trading services. But what does it mean to traders? Find out in the next section.
Before moving forward, we just want to point out that the CresCapital broker is allegedly registered in Saint Vincent and the Grenadines as Ethereal Group LLC. It comes with no surprise since SVG doesn’t regulate its forex market and is a top spot for offshore-based brokers.
Why Is Trading On a Licensed Broker’s Platform Preferable?
Speaking of the benefits of regulated brokerage firms, every online financial trading company must be authorized by a related financial market supervisory body to work legally. However, this is not just for the sake of legislation but also because it ensures the safety of your funds and professional ethics.
Not every trading credential is the same. For instance, brokers licensed under high-ranking financial agencies such as UK FCA, German BaFin, and Australian ASIC are the most trusted. It has to do with high standards and stringent measures dictated by these authorities. As an illustration, FCA requires brokers to maintain £1M working capital as a prerequisite for the licensing.
In addition, as a trader of an FCA-accredited company, you can be compensated for up to £85K if things go south (e.g., bankruptcy or cessation of trading). Not unexpectedly, you can have nothing of this with an unlicensed brokerage firm like CresCapital.
So Is CresCapital a Decent Broker or a Scam?
As a part of Ethereal Group LLC, CresCapital operates out of an offshore safe haven, Saint Vincent and the Grenadines, without required licenses and authorizations.
CresCapital Available Online Trading Platform & Tools
When it comes to CresCapital trading, this financial swindler has put some effort into making its web page have the appearance of one of the legitimate-looking websites. Beginners might fall for its false promises of an advanced trading platform (CresCapital terminal) accessible on every device (desktop, browser, and mobile version), consisting of cutting-edge tools, and coming with 24/7 support.
We are very skeptical about this claim and don’t recommend taking chances with CresCapital. Although sometimes fraudulent brokers have effective trading programs, they still use them to defraud and manipulate.
Mobile App For IOS
According to the CresCapital website, traders can trade on the go by downloading the CresCapital mobile trading application for iOS and Android. However, you shouldn’t take it for granted considering the fraudulent nature of this brokerage firm.
For real, safe, and profitable trading, we advise selecting well-established trading organizations. For example, leading brokers have their proprietary mobile apps officially available on Google Play and Apple Store.
The offer of state-of-the-art technology harbors suspicion when it comes from a dishonest scam broker such as CresCapital. It turns out that its reportedly modern trading software is web trader that has poor performance and is not nearly as desirable as a real advanced trading program.
For the best trading experience, go with MetaTrader 4, MetaTrader 5, cTrader, and Sirix providing outstanding tools such as automated trading, copy trading, stop loss, and market analysis.
CresCapital Accounts Overview
Although we don’t recommend trading with CresCapital, we analyzed its offers of trading accounts. So, a brief outline of trading options is as follows.
- Elementary: $250 minimum deposit, aimed at beginners, over 50 tools;
- Intermediate: $1,000 minimum deposit, for experienced, more than 150 tools;
- Advanced: $10,000 minimum deposit, made for advanced traders, more than 250 tools;
- Premium: $25,000 minimum deposit, designed for professional traders, over 300 tools;
Bear in mind that this offer is fabricated and should be taken with great caution. Also, the minimum opening balance of $250 is considered high when you can start trading for as little as $5 with proven brokers.
Additionally, all accounts allegedly include negative balance protection, which is a risk management tool used to minimize loss (i.e., a trader can’t lose more than deposited). We are sure that this con artist is not interested in your welfare.
CresCapital Range of Trading Markets
Pretending to be a valid FX broker, CresCapital reportedly provides a range of tradable assets including the following.
- Indices: S&P 500, Dow Jones Industrial Average, Germany 40, FTSE 100;
- Forex pairs: EUR/USD, USD/JPY, GBP/EUR;
- Energies: natural gas, crude oil, brent oil, gasoline;
- Stocks: Apple, Amazon, Facebook, Microsoft.
Surprisingly, this scammer doesn’t offer crypto assets. Anyhow, you should refrain from investing with CresCapital.
However, remember the names of theShangquan,Aiko Markets, andBitonextand stay away from them! Before investing, always check the history of online trading organizations!
What Is Known About CresCapital’s Trading Conditions?
From what we know about this unscrupulous broker, it can only provide an unhealthy trading environment that benefits its criminal objectives. It manipulates trading conditions to make them more attractive and profitable to entice you. For example, offering ultra-low spreads (starting from 0.5 pips). As for leverage, this company doesn’t reveal it; however, we are pretty much sure that it is higher than allowed (e.g., over 1:30).
Deposit and Withdrawal Process
Per its website, you can transfer to and from accounts via credit/debit cards and bank transfers. Although these two payment methods are the safest, we smell a rat. That is because these two means of payment are reversible, which is not something in line with this cyber fraud’s goals.
Most probably funding methods at CresCapital are crypto payments since they are harder to reverse and track. Concerning withdrawal fees and turnaround time, they are not revealed. Anyway, please note that there are no money withdrawal guarantees with unlicensed and anonymous brokerage firms like CresCapital.
Scammed by CresCapital Broker? – Let Us Hear Your Story
To finish the CresCapital review with a piece of advice on what you can do if you are defrauded by this investment scam. You should know that you can retrieve your money with the help of experts. Having said that, our chargeback specialists can assist you in recovering your funds. If you wonder how and what it entails, read below.
But What Is A Chargeback?
So, as we have indicated that getting your money back is possible, it is done by a chargeback. Namely, VISA and MasterCard enable cash back to victims who have funded via credit/debit cards. For those who have made deposits through wire transfers, the chargeback is also doable until they confirm a transaction. As for crypto payments, you should seek professional help since they are more challenging for chargebacks.
Anyway, our company can assist you with all chargebacks. Thus, get in touch with us. Lastly, don’t forget to report this fraudster and leave negative CresCapital reviews to alert others.