CrescoFX Review and Tutorial 2021

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CrescoFX Facts & Figures

Trade stocks, forex and commodities on the CrescoFX platform & MT4 app.

InstrumentsForex, CFDs, indices, shares, commodities, cryptocurrencies
Demo AccountYes
Min. Deposit$1,000
Pay MethodsCredit Card, Visa, Wire Transfer
Min. Trade0.01 lots
Regulated ByFCA
MetaTrader 4Yes
MetaTrader 5No
cTraderNo
ECN AccountNo
DMA AccountNo
Mobile AppsYes
Auto TradingYes
Social TradingNo
Copy TradingNo
Trade SignalsNo
Islamic AccountNo
CFD
Buy and sell online CFDs on the markets.
FTSE SpreadFloating
GBPUSD SpreadFloating
Oil SpreadFloating
Stocks SpreadFloating
Leverage1:30
Forex

Trade over a dozen currencies with leverage.

GBPUSD SpreadFloating
EURUSD SpreadFloating
EURGBP SpreadFloating
Assets17
Cryptocurrency

Trade on the world's largest two cryptocurrencies.

SpreadVariable
CoinsBTC, ETH
Risk Warning – Your capital is at risk

CrescoFX offers multi-asset trading on the standard MT4 platform as well as the proprietary Cresco Trader. Learn more about the broker here, as we review the key features of the service, including demo accounts, leverage and regulation.

Company Details

CrescoFX is a brand of Cresco Capital Markets (UK) Limited and part of the Cresco Group of financial services companies. The firm has been delivering multi-asset brokerage services since 2011 and is regulated by the Financial Conduct Authority (FCA) in the UK.

Trading Platforms

Cresco Trader

The broker’s platform offers 100% automated execution with competitive pricing and risk management tools. Clients can trade directly from the charts with a range of impressive features, including:

MetaTrader 4

MT4 is one of the top trading platforms for forex and CFDs, offering advanced tools for analysing the financial markets. The platform interface is fully customisable to suit multiple trading styles and strategies

Features include over 30 in-built indicators, plus a range of drawing tools and nine time periods for detailed price analysis. There’s also a financial news feed, a full set of trade orders and the ability to execute automated trading strategies with Expert Advisors (EAs).

CrescoFX MetaTrader 4
CrescoFX MetaTrader 4

Markets

CrescoFX offers tradable instruments across all major markets, including:

Spreads & Commission

CrescoFX is not transparent with their spreads and fees, which is disappointing coming from an FCA-regulated broker who claims to offer a transparent service. You can get in touch with the customer support team for pricing details, or sign up to a demo account. Overall though, our review was disappointed with the opaque fee structure.

CrescoFX Leverage

Major forex pairs can be leveraged up to a maximum of 1:30. Indices and metals can be leveraged up to 1:20, oils up to 1:10, stocks up to 1:5 and cryptocurrencies up to 1:2. The margin percentage requirements are detailed in the contract specifications page.

Mobile Apps

Both the Cresco Trader and MT4 platforms are available as mobile apps, which are fully-featured and support iPhones, iPads and Androids. The Cresco Trader app comes with adapted charting tools, economic news, trade history and much more. Traders can also set execution and price alerts via push notifications.

The MT4 mobile app is robust and reliable, generally receiving positive reviews from clients online. Traders can access many of the same functions as the desktop application, such as technical analysis tools, live news and a range of order types. The app can also be accessed in over 20 languages.

CrescoFX MetaTrader 4 mobile
CrescoFX MetaTrader 4 mobile

Deposits & Withdrawals

CrescoFX offers funding via bank transfer and credit/debit cards, which is limited compared to other brokers. Fees may be charged when using such methods and processing times may not be instant. Again, there is a lack of transparency here so it’s worth considering other brokers before opening an account.

Demo Account

CrescoFX offers a demo account for both the MT4 and Cresco Trader platforms. Demo accounts are excellent tools for both beginners and experts, as they allow you to practice trading skills within a risk-free account.

CrescoFX Bonuses

CrescoFX is regulated by one of the most stringent financial regulators, the FCA, and therefore does not offer incentivised trading schemes.

Regulation Review

Cresco Capital Markets (UK) Ltd is authorised and regulated by the Financial Conduct Authority (FCA) in the UK with FRN number 764353.

As an FCA-regulated broker, CrescoFX is required to segregate client money and participate in the Investor Compensation Scheme. Retail clients also get negative balance protection which resets trading accounts back to zero in the event of a negative balance.

Additional Features

The broker also falls short in this area, with both the news and education sections either being unfinished or leading to error pages. Aside from the resources within the trading platforms, CrescoFX does not offer any other tools or content.

Trading Accounts

Another area that needs improvement is transparency around account types. New traders will struggle to find any information at all unless they sign up for an account. Beginners will likely be priced out, though, as the minimum initial deposit to open an account is a higher-than-average at $1,000.

For further details around which account may suit you, you can contact the customer support team.

Benefits

Benefits of opening an account with CrescoFX include:

Drawbacks

However, we uncovered several issues in this review:

Trading Hours

Forex is a 24-hour global market, but brokers have specific session times depending on the trading platform used. You can find details of each instrument’s trading hours within the Cresco Trader or MT4 platform.

Customer Support

There are several ways you can get in touch with CrescoFX, including email and telephone. There’s also a live chat service, though we struggled to find a time when the chat was ever online.

Security

The MT4 platform follows industry-standard encryption processes and login security, including two-step verification. CrescoFX could be more transparent around security within the Cresco Trader platform, however.

CrescoFX Verdict

CrescoFX offers a promising trading platform, with sophisticated features and technical analysis tools on desktop and mobile. However, the lack of transparency in multiple areas is a let down and not something you expect from an FCA-regulated broker. CrescoFX needs to improve its website and offering if they are to compete with the best online brokers.

Accepted Countries

CrescoFX accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use CrescoFX from United States.

FAQ

Is CrescoFX regulated?

Yes, CrescoFX is licensed and regulated by the UK Financial Conduct Authority (FCA) under FRN number 764353.

What can I trade at CrescoFX?

The broker covers the major markets including 17 forex pairs, 10 CFD equities and 8 major indices. There’s also gold, silver and oil contracts, plus Bitcoin and Ethereum.

What is the minimum initial deposit at CrescoFX?

The minimum initial deposit to open an account at CrescoFX is $1,000, which may deter may beginners.

Does CrescoFX offer a demo account? 

Yes, CrescoFX offers a practice account where you can place simulated trades and explore the platform features and strategies without risking real money.

What platforms are available at CrescoFX?

Traders can choose between the broker’s proprietary platform, Cresco Trader, or the MetaTrader 4 platform.

Trade stocks, forex and commodities on the CrescoFX platform & MT4 app.

CrescoFX vs Other Brokers

CrescoFX vs