Cashcraft Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
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They provide very good conditions for profitable trading. Besides, very helpful customer service and very fast execution of orders. I can confidently recommend this broker to all traders.
In this comprehensive review of Cashcraft, we will delve into the various aspects of this forex broker, examining user experiences, expert opinions, and factual data to provide a balanced overview. Cashcraft has garnered attention for its unregulated status and mixed user feedback, making it essential for potential investors to proceed with caution.
Note: It is crucial to understand that Cashcraft operates under different entities across regions, which can impact user experiences and regulatory oversight. This review aims to present a fair and accurate assessment based on available information.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Setup/Experience | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
We score brokers based on a combination of user feedback, expert analysis, and factual data.
Founded in 1991, Cashcraft is a financial services provider based in Nigeria. It operates as a stockbroking and asset management firm and is a member of the Nigerian Stock Exchange. However, it lacks valid regulatory oversight, raising concerns about investor protection. Cashcraft primarily offers services like private placements for unquoted companies, equity arrangement services, and temporary funding solutions. Unfortunately, details about specific trading platforms (such as MT4 or MT5) and available asset classes are scarce, as the broker's website has encountered functionality issues.
Cashcraft operates in an unregulated environment, which significantly heightens the risks associated with investing through this broker. According to WikiFX, the broker has a regulatory index of 0.00, indicating a lack of oversight from governmental or financial authorities. This absence of regulation raises red flags for potential investors, as there is no guarantee that client funds are protected.
While specific details about deposit and withdrawal currencies are not readily available, it is advisable for clients to confirm these details directly with Cashcraft before proceeding. This lack of transparency is a common concern among users.
Information regarding the minimum deposit requirement is also vague. Users have reported varying experiences, with some highlighting an accessible entry point, while others caution against hidden fees that can arise later.
Cashcraft does not prominently feature any bonuses or promotions on its platforms. This could be a disadvantage for traders looking for incentives to engage with the broker.
Cashcraft focuses on private placements and equity arrangement services, primarily catering to investments in unquoted companies. However, the lack of a clear listing of tradable asset classes may deter potential clients seeking a more diverse trading portfolio.
The absence of detailed information regarding spreads, fees, and commissions further complicates the decision-making process for potential clients. Users have expressed frustration over unclear pricing structures, which can lead to unexpected costs.
Details about leverage options are not specified, which may limit trading strategies for clients looking to maximize their investment potential.
Cashcraft's website does not provide clear information on the trading platforms offered. This lack of clarity can hinder user experience and confidence in the broker's services.
There is limited information on restricted regions, which could impact international clients. Prospective users should verify their eligibility to trade with Cashcraft based on their location.
Customer service experiences have been mixed, with many users reporting difficulties in reaching support. The primary language for customer service appears to be English, but the quality of support has been criticized.
| Category | Detailed Explanation |
|---|---|
| Account Conditions | Users report vague terms, with no clear minimum deposit information. |
| Tools and Resources | Limited resources available for traders, with no mention of popular trading platforms. |
| Customer Service and Support | Mixed reviews; many users express frustration over unresponsive support. |
| Trading Setup/Experience | Lack of clarity on trading conditions can lead to a frustrating experience for users. |
| Trustworthiness | Unregulated status and mixed user feedback significantly lower trust ratings. |
| User Experience | Overall negative experiences reported, with many users advising potential clients to exercise caution. |
In conclusion, Cashcraft presents a concerning picture for potential clients. While the broker offers tailored services for specific investment needs, its unregulated status, lack of transparency, and mixed user experiences raise significant red flags. Prospective investors should proceed with caution and consider alternative options before committing their funds.
For those considering Cashcraft, it is essential to conduct thorough research and verify all details directly with the broker to ensure a safe trading experience.
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