What’s Cresco FX?
Cresco FX is a UK-based boutique brokerage company offering forex and CFD trading as a strictly managed and registered company.
At the start, Cresco FX built a customized service along with trading innovation to provide streamlined trading solutions to global traders and promote the management of complex trades. Cresco does indeed deliver a wide range of products, along with a high degree of technical efficiency, often available either through its proprietary platform or through the industry peer MT4. Being predominantly a CFD trader, the Cresco FX trading range covers equities, stocks, debt, FX, indices, cryptocurrencies and metals.
In addition to sophisticated technology and efficient execution by institutional liquidity Cresco FX also provides high prices by offering some of the best quotes for its various instruments. Also, Cresco FX also helps start-up traders and focuses on long-term partnerships with its company by providing traders educational or analysis materials that will make you a better trader.
Is Cresco FX secure or is it a scam?
Cresco FX is a UK-based brokerage firm that is a fully approved and controlled company registered as Cresco Capital Markets UK Ltd.
Like almost every financial service firm operating via London, Cresco FX is also approved by the renown Financial Conduct Authority (FCA). Although FCA is a world-famous and one of the most respected authorities, FCA regulated brokers comply with stringent regulations and legislation to ensure a high level of consumer security and high operating standards.
As per the regulation, client funds are kept in compliance with the Client Money Rules of the FCA and are broken down into Tier 1 bank accounts. All accounts are also tracked and reconciled on a regular basis for the security of client funds. For addition, deposits of up to £85,000 are also covered under the Financial Services Compensation Scheme (FSCS) in the event of business insolvency.
Platforms for Trading
As for the platforms and trading software itself, Cresco FX gives you a option between its own built platform, Cresco Trader, or the industry-standard MetaTrader4 platform. Preference is also a good choice, as you can either learn Cresco Trader Platform with the help of educational materials and use its powerful automated execution, accompanied by chart trading, customizable templates, advanced tools and more.
Or, if MetaTrader4 with its awesome analytics features and the ability to run automated trading via multiple EAs with no restrictions is better for you, the option is here.
Trading tech offers access from anywhere and at any time through multiple platform-supported devices accessible from a single account. What is also important when selecting a broker is to check on its execution, and this is another benefit here at Cresco FX. The broker uses market liquidity to pick the best quotes for light-fast rates, which is certainly perfect for high-performance traders and institutions.
As Cresco FX broker operates and retains its offering mainly to high-volume traders, there are a number of accounts dependent on the minimum deposits and volumes exchanged. There are also four account forms: Standard, Gold, Platinum and VIP, where higher grate provides better commissions. Of course, all trading accounts provide dedicated support, as well as providing MAM accounts for money managers.
Cresco mentions on its website that it offers lower transaction costs through commissions and a raw spread below 1 pip for major currency pairs for all account types. Indeed, the standard raw spread is below 1 pip and floats around 0.7 for the EUR/USD pair, but may be slightly different on the proprietary platform Cresco Trader and MT4.
In addition, commission charges per lot depend on the type of account you hold in Cresco FX. Thus, VIP accounts charged $2, Platinum – $1.5, Gold – $4, and Standard 6 for each lot.
For example, see the usual Cresco spreads for Forex instruments below, and you can check the spread of XTB to find out more about the company’s pricing.
Rollover of Cresco FX
Besides holding a position longer than a day, you can either take advantage of the interest rate or charge an additional fee in case you stay longer. This interest rate is also known as a rollover or overnight charge, which is specific with each instrument and is measured on the basis of a base rate and some mark-up from the broker.
And of course, trading with Cresco FX also promised to use powerful tool leverage, which could maximize future profits through its ability to manage several initial accounts. Especially leverage levels depending on different instances, like pro levels of trading, the instruments you trade, as well as regulatory restrictions.
Cresco FX, as an approved FCA firm that also falls within ESMA restrictions, demands a lower degree of leverage for retail traders with a limit of 1:30 for major currencies, 1:20 for minor currencies and 1:10 for commodities. However, practitioners can have access to a higher standard of enforcement procedures.
Methods of Payment
Depositing Funds to Cresco FX is a safe and easy operation, due to its duty to enforce regulatory restrictions and strict monitoring of money protection measures. The easiest way to finance a Cresco FX trading account is to use a Cash, Debit Card or Bank Wire Transfer.
Total Deposit Volume
The minimum deposit sum in Cresco, determined by the type of account you wish to open and starting from a minimum of $1,000 for the Standard Account and $50,000 for the Platinum One. The deposit requirement is very high and can be met only by experienced or high-volume traders.
Fees for Withdrawals
Usually, there are no fees for withdrawing funds from the trading account or for deposits, however, it is best to check with the payment company and Cresco Customer Service if any fees are waived due to the transaction rules laid down by the company or region.
Overall concluding the Cresco FX offer we can recognize its controlled environment ensuring the protection of your investment, the great technologies they use, the option between platforms like industry leader MT4… all accompanied by great pricing.
While very high deposits and general conditions may be better suited for experienced traders, beginners are also welcome as Cresco FX provides all the required data and education.