CRESCOFX Forex Broker

CrescoFX Forex Broker - Complete Information Guide

1. Broker Overview

　　CrescoFX, officially known as Cresco Capital Markets (UK) Limited, was founded in 2011 and is headquartered in London, United Kingdom. This brokerage is privately held and primarily serves professional and institutional clients, offering a range of financial services including forex and CFD trading. Over the years, CrescoFX has established itself as a boutique brokerage, focusing on providing tailored services and innovative trading solutions.

　　The company was founded by Derek Mayne and initially operated under a category II dealer license issued by the Maltese Financial Supervisory Authority (MFSA). In 2016, CrescoFX expanded its operations by obtaining a license from the UK's Financial Conduct Authority (FCA), marking a significant milestone in its development. This move allowed CrescoFX to cater to a broader range of clients within the European Union and beyond.

　　CrescoFX operates primarily in the retail forex and institutional trading sectors, providing services to clients looking for reliable and competitive trading options. The company is part of a larger group that includes Cresco Cap, which focuses on investment solutions for sophisticated investors. As a CrescoFX broker, the firm emphasizes a commitment to transparency and client-focused service.

2. Regulatory and Compliance Information

　　CrescoFX is regulated by the Financial Conduct Authority (FCA) in the UK, under registration number 764353. The FCA is known for its stringent regulatory requirements, ensuring high operational standards and client protection. This includes the segregation of client funds in tier-1 bank accounts, ensuring that clients' money is kept separate from the broker's operational funds.

　　Additionally, CrescoFX participates in the Financial Services Compensation Scheme (FSCS), which protects eligible clients by covering up to £85,000 in the event of insolvency. The brokerage adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, providing a secure trading environment for its clients.

　　CrescoFX operates under the regulations set forth by the FCA, which includes compliance with the Markets in Financial Instruments Directive (MiFID). This regulatory framework mandates transparency in trading practices and ensures that clients are well-informed about the risks involved in trading.

3. Trading Products and Services

　　CrescoFX offers a diverse range of trading products, primarily focusing on forex and CFDs. The broker provides access to over 30 currency pairs, including major pairs such as EUR/USD, GBP/USD, and USD/JPY. In addition to forex, CrescoFX offers a variety of CFD products, including:

• Indices: Major indices like the US 30, US 500, and UK 100.
• Commodities: Including precious metals like gold and silver, as well as energy products such as crude oil.
• Cryptocurrencies: Limited to popular options like Bitcoin (BTC) and Ethereum (ETH).
• Equities: A selection of major stocks from well-known companies.

　　The brokerage is committed to keeping its product offerings updated, frequently adding new instruments to meet the evolving needs of its clients. CrescoFX primarily targets retail traders while also providing services tailored for institutional clients, including asset management solutions.

4. Trading Platforms and Technology

　　CrescoFX provides its clients with two primary trading platforms: MetaTrader 4 (MT4) and its proprietary Cresco Trader.

• 　　MetaTrader 4 (MT4): This platform is widely recognized in the trading community for its robust features, including automated trading capabilities through Expert Advisors (EAs), extensive charting tools, and a user-friendly interface. MT4 supports various devices, allowing traders to access their accounts from desktops, tablets, and mobile devices.

• 　　Cresco Trader: This in-house platform offers advanced features such as automated execution, customizable layouts, and risk management tools. It is designed to provide a seamless trading experience with capabilities for direct trading from charts and access to a live economic calendar.

　　Both platforms are supported on mobile devices, ensuring that traders can manage their accounts and execute trades on the go. CrescoFX employs a Straight Through Processing (STP) model, ensuring fast order execution and access to institutional liquidity, which is crucial for high-performance trading.

5. Account Types and Trading Conditions

　　CrescoFX offers several account types tailored to meet the needs of different traders:

• Standard Account: Requires a minimum deposit of $1,000, with spreads starting from 0.7 pips and a commission of $6 per lot.
• Gold Account: Requires a minimum deposit of $5,000, with lower commission rates of $4 per lot.
• Platinum Account: Requires a significant minimum deposit of $50,000, offering even lower commissions of $1.5 per lot.
• VIP Account: Designed for high-volume traders, requiring a minimum deposit of $20,000 and charging $2 per lot.

　　CrescoFX provides leverage up to 1:30 for major currency pairs, with different leverage levels for other instruments. The minimum trade size is 0.1 lots, and overnight fees apply for positions held longer than one day, calculated based on the instrument being traded.

6. Fund Management

　　CrescoFX supports various deposit methods, including bank wire transfers and credit/debit cards. The minimum deposit requirement varies by account type:

• Standard Account: $1,000
• Gold Account: $5,000
• Platinum Account: $50,000
• VIP Account: $20,000

　　Deposits are processed promptly, with no fees charged by CrescoFX. However, traders should verify with their payment providers for any potential fees. Withdrawals can also be made via bank wire and cards, with no fees for withdrawals, although processing times may vary.

7. Customer Support and Educational Resources

　　CrescoFX offers customer support through multiple channels, including:

• Email: info@crescofx.com
• Phone: +44 (0) 207 952 6825
• Live Chat: Available on the website

　　Customer support operates from Monday to Friday, covering major trading hours. The brokerage provides support in English, ensuring effective communication with clients.

　　While CrescoFX does not currently offer extensive educational resources or tools, it does provide a demo account for traders to practice their skills without risking real money. Market analysis services, including daily updates and news, are accessible through the trading platforms.

8. Regional Coverage and Restrictions

　　CrescoFX primarily serves clients in the United Kingdom and other regions within the European Union. The brokerage is regulated under UK law, which allows it to offer services across Europe. However, it does not accept clients from certain jurisdictions, including the United States and other regions where regulatory restrictions apply.

　　In summary, CrescoFX is a well-regulated broker that provides a range of trading products and services suitable for professional and institutional traders. With its commitment to client security and competitive trading conditions, it has established itself as a reliable choice in the forex brokerage landscape. As a CrescoFX broker, it continues to evolve and adapt to the needs of its clients while maintaining high operational standards.