CrescoFX Review 2024

CrescoFX has closed. Please see the list of similar brokers or the Best Brokers List for alternatives.
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Written By
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Written By
Tobias Robinson
Tobias is a partner at DayTrading.com, director of a UK limited company and active trader. He has over 25 years of experience in the financial industry and contributed via CySec to the regulatory response to digital options and CFD trading in Europe. Toby’s expertise and dedication to financial education make him a trusted voice in the industry, including a BBC investigation into digital options.
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Fact Checked By
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Fact Checked By
William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
Updated

1.4 / 5
CrescoFX is #102 in our CFD broker rankings.
$1000
MT4
Forex, CFDs, indices, shares, commodities, cryptocurrencies
FCA
Wire Transfer, Credit Card, Visa

CrescoFX Review

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.

Top 3 Alternatives to CrescoFX

Compare CrescoFX with the top 3 similar brokers that accept traders from your location.

  1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

  2. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.

  3. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.

CrescoFX Comparison Table

Compare CrescoFX With Similar Brokers
CrescoFX IG Interactive Brokers World Forex
Rating 1.4 4.7 4.3 4
Markets Forex, CFDs, indices, shares, commodities, cryptocurrencies CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts
Demo Account Yes Yes Yes Yes
Minimum Deposit $1000 $0 $0 $1
Minimum Trade 0.01 Lots 0.01 Lots $100 0.01 Lots
Regulators FCA FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM SVGFSA
Bonus 100% Deposit Bonus
Education No Yes Yes No
Platforms MT4 Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral MT4, MT5
Leverage 1:30 1:30 (Retail), 1:250 (Pro) 1:50 1:1000
Payment Methods 3 6 6 10
Visit Visit Visit Visit
Review IG
Review
Interactive Brokers
Review
World Forex
Review

Compare Trading Instruments

Compare the markets and instruments offered by CrescoFX and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare CrescoFX Trading Instruments
CrescoFX IG Interactive Brokers World Forex
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil No Yes No Yes
Gold Yes Yes Yes Yes
Copper No Yes No No
Silver Yes Yes No Yes
Corn No No No No
Crypto Yes Yes Yes Yes
Futures No Yes Yes No
Options No Yes Yes No
ETFs No Yes Yes No
Bonds No Yes Yes No
Warrants No Yes Yes No
Spreadbetting No Yes No No
Volatility Index No Yes No No

CrescoFX vs Other Brokers

Compare CrescoFX with any other broker by selecting the other broker below.

 

Customer Reviews

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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.