Cresco FX Review 2024

Quick Links

• Over Review Method

• Cresco FX Pros and Cons

• Is Cresco FX Safe or a Scam?

• Account Opening, Trading Instruments, Research, Platform, and Fees

• 10 Points Summary

• Leverage

• Fees

• Instruments

• Account Types

• Funding Methods

• Trading Platform

• Conclusion

Our Review Method ▲

At Broker Insight, our review methodology for evaluating brokers is comprehensive and multi-faceted, ensuring a well-rounded analysis. We start by examining the broker's regulatory compliance and background, assessing the security and reliability of their operations. This is followed by a thorough evaluation of the range and diversity of trading instruments and markets offered, as well as the variety and suitability of account types available for different trader profiles. We delve into the trading platforms and tools provided, focusing on user experience, functionality, and technological robustness. Fees, spreads, and overall cost structure are scrutinized for transparency and competitiveness. A key component of our review involves testing the effectiveness and responsiveness of customer support. Additionally, we consider the ease and efficiency of the deposit and withdrawal processes. Finally, we incorporate real user feedback and the broker’s community reputation into our assessment to present a holistic and unbiased review that serves as a valuable resource for traders seeking reliable and insightful broker evaluations.

Cresco FX Pros and Cons ▲

Pros

• Comprehensive range of trading instruments

• Flexible fee structure based on commission

• Highquality research and trading platforms

Cons

• Basic educational resources

• Average commissions for entrylevel accounts

Is Cresco FX Safe or a Scam? ▲

Cresco FX is not a scam and is considered low risk, thanks to top-tier regulation by the Financial Conduct Authority (FCA) in the UK. Cresco FX operates under Cresco Capital Markets UK Ltd, a brokerage firm based in the UK, which fully complies with the stringent regulations and standards set by the FCA. Being regulated by one of the most reputable and recognized authorities worldwide ensures that Cresco FX adheres to strict regulations and legislation, offering significant protection for its clients. The firm ensures client funds are held in accordance with the FCA’s Client Money Rules and are segregated in Tier 1 bank accounts. Furthermore, the daily monitoring and reconciliation of all accounts safeguard the integrity and protection of client funds. Additionally, deposits up to £85,000 are protected under the Financial Services Compensation Scheme (FSCS) in the event of the company's insolvency.

Account Opening, Trading Instruments, Research, Platform, and Fees ▲

The process of opening an account with Cresco FX is straightforward, and the broker offers a wide range of trading instruments. This includes Equities, Commodities, Bonds, FX, Indexes, Cryptocurrencies, and Metals. Cresco FX provides access to its proprietary Cresco Trader platform, as well as the widely used MT4 platform, catering to the needs of diverse traders. The broker has devised a flexible fee structure based on commissions, which can be advantageous for many traders. However, the educational resources provided are relatively basic, and the commissions for the entry-level accounts are considered average.

10 Points Summary ▲

• Headquarters: UK

• Regulation: FCA

• Instruments: Equities, Commodities, Bonds, FX, Indexes, Cryptocurrencies, and Metals

• Platforms: Cresco Trader, MT4

• EUR/USD Spread: 0.7 pips

• Minimum deposit: 1,000 US$

• Demo Account: Provided

• Base currencies: GBP, USD, EUR

• Education: Offers educational and research materials

• Customer Support: Available 24/5

Leverage ▲

Utilizing the power of leverage can significantly amplify your potential profits by allowing you to multiply your initial account balance. Cresco FX, as an FCA-authorized entity subject to ESMA restrictions, offers different leverage levels based on various criteria, such as your proficiency in trading and the specific financial instrument you are dealing with. For retail traders, the maximum leverage available is 1:30 for major currency pairs, 1:20 for minor pairs, and 1:10 for commodities. However, professional traders may access higher leverage levels following a thorough compliance process.

Fees ▲

Cresco FX distinguishes itself by offering competitive fee structures across its different account types. While the broker does impose charges such as spreads, commissions, and overnight financing fees, these are kept reasonable to ensure traders can maximize their profitability. The exact fee structure varies depending on the account type, with higher-tier accounts like Platinum and VIP enjoying lower commissions and more favorable trading conditions.

Instruments ▲

Cresco prides itself on its broad selection of financial instruments, ensuring traders have access to a diverse range of markets. Whether trading through its proprietary platform or the renowned MetaTrader 4 (MT4), clients can engage in transactions involving Equities, Commodities, Bonds, Forex, Indices, Cryptocurrencies, and Metals. This extensive product range, combined with top-notch technical performance, makes Cresco FX a versatile broker choice for traders of all levels.

Account Types ▲

Cresco FX caters to a wide array of traders by offering four distinct account types: Standard, Gold, Platinum, and VIP. Each tier is designed to meet the varying needs and preferences of Cresco's clientele, with higher-grade accounts benefiting from better commission rates. Additionally, all account types come with dedicated service, and the broker also provides MAM accounts for money managers, further enhancing its appeal to a broad spectrum of traders.

Funding Methods ▲

Depositing funds into Cresco FX is both secure and straightforward, thanks to its commitment to regulatory standards and meticulous oversight of financial security measures. The quickest methods for funding a trading account at Cresco FX involve using a Credit or Debit card or opting for a Bank Wire Transfer.

Minimum Deposit

The minimum deposit required by Cresco is $1,000 for a Standard Account and $50,000 for a Platinum Account. Although the deposit requirements are significantly high, targeting primarily professional or high-volume traders, Cresco FX's focus remains on this particular clientele. Comparatively, Cresco FX's minimum deposit stands at $250, which is lower than the average $500 required by most other brokers.

Withdrawal

Cresco FX provides withdrawal options via Bank wire and Cards. It does not impose fees for withdrawing funds from the trading account or for deposits. However, it is advisable to consult with Cresco's payment provider and customer service to confirm if any fees might be applied by the provider or due to specific country regulations.

Trading Platforms ▲

Cresco FX offers a choice between its proprietary platform, Cresco Trader, and the widely recognized MetaTrader4. This flexibility is beneficial, allowing users to either familiarize themselves with Cresco Trader, which features powerful automated execution, chart trading, customizable layouts, and advanced tools, or to opt for MetaTrader4, known for its exceptional analytical features and the ability to run automated trading through numerous Expert Advisors without restrictions. Cresco FX's trading technology ensures accessibility from anywhere, at any time, across multiple devices, all supported by the platforms available from a single account. Moreover, Cresco FX's execution advantage, utilizing institutional liquidity to select the best quotes at lightning-fast speeds, is especially advantageous for high-performance traders and institutions.

Education

In addition to its sophisticated technology and reliable execution through institutional liquidity, Cresco FX also offers competitive pricing for its wide range of instruments. Furthermore, Cresco FX supports beginner traders and focuses on building long-term relationships with its clients by providing educational and research materials designed to enhance trading skills.

Conclusion ▲

In summarizing Cresco FX's offerings, it's clear that the regulated environment ensures the safety of investments, alongside the utilization of great technology. The choice between leading platforms, including MT4, coupled with competitive pricing, positions Cresco FX favorably in the market. While the high deposit requirements and general conditions might be more appealing to professional traders, beginners are also encouraged to engage, given the comprehensive data and educational support provided by Cresco FX.

Cresco FX Updates

It is important to note that the Cresco FX website is currently under construction and inaccessible. This temporary unavailability suggests that the broker has paused its trading offerings and is not currently accepting new account openings. Potential clients are advised to conduct their own research should the website become active again or if they come across any trading offers. It's crucial to be cautious as scam brokers often utilize the names of regulated entities to attract unsuspecting clients.