CrescoFX Review South Africa – Unbiased Pros & Cons Revealed ( 2025 )

WHAT IS CRESCOFX?

According to research in South Africa, CrescoFX is a UK-based brokerage firm which was founded in 2011 and is designed to serve traders who are on a more professional level and who are seeking not only reliable but also competitive alternatives to providers of traditional liquidity.

CrescoFX provides traders with an offering comprised of multiple asset classes using trading platforms that are powerful and advanced, and which come with a variety of tools that can be used with a number of devices.

In addition, CrescoFX’s offering is also made up of a trading and investment environment which is personalised and tailored to suit the needs of private and institutional clients along with the provision of solid liquidity and more.

SAFE OR SCAM?

CrescoFX is registered as Cresco Capital markets UK Ltd. Seeing that it is a UK-based company, it falls within the regulation and authorization of the FCA, which is one of the strictest and most demanding entities in the world.

Under its regulation and authorization, CrescoFX must adhere to a strict set of regulations along with legislation as well as high operational standards.

The FCA has Client Money Rules which requires for client funds to be kept in segregated accounts in Tier-1 bank accounts. These bank accounts are not only monitored, but also reconciled daily to ensure that client funds are protected.

CrescoFX is also a member of the FSCS which pays out up to £85,000 to eligible customers in the unlikely event of company insolvency.

CRESCO FX REVIEW OF PRO AND CONS

LEVERAGE

Leverage can be used by traders to increase their potential gains through the opportunity to have access to multiple initial accounts balances. The level of leverage available to traders depends on various factors, such as:

• The instrument being traded
• The type of account that the trader uses (some accounts have access to higher levels of leverage, where basic accounts provide higher levels and more professional accounts provide lower levels)
• The area of jurisdiction, which ultimately determines what level of leverage traders have access to.

Due to the high risks involved with leverage, traders may be exposed to losses that exceed their initial deposits, when leverage tools are used incorrectly – this mistake is not only made by beginners, but professionals also run the same risk.

Seeing that CrescoFX is authorized and regulated by the FCA, it falls under the ESMA restrictions that have been imposed on companies to offer only up to a certain maximum leverage to traders.

The general maximum leverage that traders can expect from CrescoFX is as follows:

• 1:30 for major currencies
• 1:20 for minor currencies
• 1:20 for major indices
• 1:20 for spot metals
• 1:10 for commodities
• 1:5 for Equities, and
• 1:2 for Cryptocurrencies

There exists the possibility that professionals can access higher levels following a compliance procedure.

This seems to be the case with CrescoFX as a closer look at the financial instruments that they offer shows that they make provision for the following leverage levels according to the instruments:

• Forex – 1:500
• Interest rates – 1:200
• General CFDs – 1:100
• Commodities – 1:100
• Bonds – 1:100
• Indices – 1:100
• Equities – 1:10

ACCOUNTS

Although not a lot of information on the website can be found pertaining specifically to the account features of each of the options available to traders, the following options are available to traders when opening an account:

• Standard Account
• Gold Account
• Platinum Account
• VIP Account

Standard Account

Features of this account include (but are not limited to):

• Minimum deposit of $1,000
• Min trade size is 0.1 lots
• Maximum trading volume – $20,000 million a month
• Spreads and commission charges at $6/lot

Gold Account

Features of this account include (but are not limited to):

• Minimum deposit of $5,000
• Min trade size is 0.1 lots
• Maximum trading volume – $100 million a month
• Spreads and commission charges at $4/lot

Platinum Account

The features of this account include (but is not limited to):

• Minimum deposit of $50,000
• Min trade size is 0.1 lots
• Maximum trading volume – $250 million a month
• Spreads and commission charges at $1.5/lot

VIP Account

The features of this account include (but is not limited to):

• Minimum deposit of $20,000
• Min trade size is 0.1 lots
• Maximum trading volume – $100 million a month
• Spreads and commission charges at $2/lot

The accounts provided by CrescoFX offer variable spreads along with commission fees that are volume-based.

The minimum deposit on these accounts along with the volumes being traded and offered on spreads/commission indicate that none of these accounts will be suited for beginners, but more professional traders who trade high volumes.

MARKET INSTRUMENTS

CrescoFX offers traders multiple financial instruments across 5 asset classes, which include:

• Forex – major pairs such as USD/JPY, AUD/JPY, AUD/USD/ CAD/JPY, and several more
• Major indices such as US 30, US 500, US Tech 100, HK 50, Japan 225 and more
• Spot metals such as Gold and Silver
• Commodities which include Crude Oil (WTI) and Brent Oil
• Cryptocurrencies such as Bitcoin and Ethereum
• Equities such as Amazon, Facebook, Tesla, Microsoft, and more

FEES

When looking at the account fees, the initial deposit on all the accounts is actually quite high when compared to that of other brokers, even those who cater for professional clients more than for beginners.

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

The commission fees are volume-based along with the provision of variable, raw spreads which start from 0 depending on the financial instrument and the type of account that the trader uses along with the type of trading platform.

The general commission fees per account are as follows:

• Standard Account – spread along with commission of $6 per lot
• Gold Account – spread along with commission of $4 per lot
• Platinum Account – spread along with commission of $1.5 per lot
• VIP Account – spread along with commission of $2 per lot

CrescoFX caters for traders who trade at high volumes, this can be seen in lower commission charges per lot depending on the account type along with the volume traded. The more is traded, the lower the cost of commission.

When trading, traders need to take note of any overnight or rollover fees which are charged should positions be held open for longer than a day, in case they are going long on a trade.

The overnight/rollover fee is determined by the type of instrument being traded and it is calculated according to the base rate along with mark-up from the broker.

With regards to fees charged on deposits/withdrawals, CrescoFX does not require fees to be paid on either but traders will have to verify with their payment providers in case they have their own fees charged on transactions.

DEPOSIT AND WITHDRAWAL

CrescoFX offers traders the choice between two payment options when either making deposits or withdrawing funds, credit/debit cards and bank wire transfers.

Although options are only limited to these two payment options, these are the most convenient and reliable methods of payment that a lot of brokers rely on.

There may be fees involved when using either which can be charged by the payment providers themselves. In addition, payments made in different currencies may be converted to the base currency on the account by using standard rates.

Bank wire transfers may take a few days for the transaction to be processed, both when making a deposit and when withdrawing funds.

When making a withdrawal request, it will be processed within the same day, or the next business day should the request be received after working hours.

To avoid fraud and money laundering, CrescoFX does not accept third-party payments. When depositing funds or withdrawing thereof, the trader must use the same account name as what they registered their trading account in.

There exists a chance that there may be additional fees that are not listed here, and traders need to ensure that they check with the broker should they be unsure of additional fees before opening an account with any broker.

TRADING PLATFORMS

Although options regarding trading platforms are limited, CrescoFX makes provision for two platforms which are advanced, sophisticated and host an array of features to provide traders with the ultimate trading experience.

MetaTrader4

This is the most-used and most popular trading platform in the trading community. It is not only user-friendly and customizable, but it also supports functions such as EAs, add-ons and more. This platform is also available on an array of devices such as:

• Smartphones
• Tablets
• Laptops and Desktops

MetaTrader4 has the following features that include (but are not limited to):

• A user interface that is intuitive, customizable and user-friendly
• Multiple chart time frames and styles in which charts are displayed
• Multiple order types
• A multitude of technical indicators along with drawing tools
• Automated trading through using EAs
• EAs can historically be tested by using the strategy tester
• MQL4 programming
• Sharing of ideas and tools with other traders through the MQL community
• Price alert notifications through either app pop-ups, SMS or email

Cresco Trader

This trading platform is CrescoFX’s own in-house trading platform which offers traders a unique trading experience when used in conjunction with a CrescoFX account, it also includes features such as:

• Award-winning charts
• Execution which is fully automated along with advanced order types
• Risk Management
• Live economic calendar
• Reuters news which is customizable
• More than 80 technical overlays along with studies built into the platform
• All charts feature 24 drawing tools
• Price alerts which are sent via push notifications to mobile apps, and more

Cresco Trader is available for download on all devices that run on either Android or iOS software.

HOW TO OPEN AN ACCOUNT

The CrescoFX review is simple and easy.

Opening an account with CrescoFX is a quick and fully digitalized process that requires the applicant to fill in a series of information such as:

• Basic/personal information
• Information pertaining to the applicant’s employment and basic financial information
• Further in-depth financial information
• Questions regarding investment objectives along with a security check

Once these areas have been completed, the applicant must agree to the declaration followed by the uploading of required documentation to verify proof of identity (National ID or passport) and residence (bank statement, utility bill not older than 3 months).

As soon as the information and required documentation has been submitted, the account will be reviewed by the accounts department. As soon as the account has been approved, the applicant will be notified of such and they will be able to log in.

From there, the required minimum deposit must be paid according to the type of account the trader chose and trading can commence.

CUSTOMER SUPPORT

CrescoFX can either be contacted telephonically or via email. Alternatively, clients can also submit an online request form, or they can use the Live Chat function available. Unfortunately, there is no FAQ section available on the website.

EDUCATION

CrescoFX does not have any educational tools. Although there is a section on the website dedicated to education, when going into this section it merely states that the section is under construction.

RESEARCH

The CrescoFX website does not make provision for research tools, although there is a section containing news. All other research tools will have to be accessed through the trading platforms provided, Cresco Trader and MetaTrader4.

AWARDS

There is no mention of any awards on the CrescoFX website itself. The only mention of awards is that the Cresco Trader charts are award-winning.

CONCLUSION

CrescoFX is a strictly and thoroughly regulated and authorized broker which provides traders with the best and safest trading environment. There is great technological innovation pertaining to the platforms that are available.

Although the minimum initial deposits on all the accounts are quite high, when considering that these accounts are for professional and institutional traders who trade at high volumes, when compared with the offering it is quite reasonable.

The spreads are tight and commission fees are quite low when trading large volumes and there is an array of financial instruments that can be traded.

Although there are brokers who are cheaper, the offering that CrescoFX has and the fact that each account is tailored according to the different needs of different traders sets it apart from the rest.

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DISCLAIMER

There is a high level or risk involved in the trading of financial instruments that may not be suitable for all traders.

Traders are at a risk of losses that may exceed their initial deposits and therefore need to ensure that they understand the level of risk they are willing to be exposed to.

The information provided on the CrescoFX website is merely for guidance and CrescoFX does not accept liability should any damage or loss arise from decisions made to invest in financial instruments by using products or services provided by CrescoFX

Should traders deem it necessary, they can seek independent and professional advice before making any decisions to invest in financial instruments, according to research in South Africa.

Frequently Asked Questions

Is CrescoFX a good and legit broker?

Our Review of CrescoFX reveals that this broker is good and legit as it falls within the strict regulation of the Financial Conduct Authority in the UK.

Does CrescoFX offer leverage?

The following leverage under ESMA restrictions apply:  1:30 for major currencies, 1:20 for minor & major currencies and spot metals, 1:10 for commodities, 1:5 for equities, 1:2 for cryptocurrencies

Does CrescoFX have an Islamic account option?

No unfortunately, this broker does not offer an Islamic account.

Is CrescoFX a recommended forex trading broker for experts and beginners?

No. CrescoFX is more focussed on the advanced trader. It does provide a demo account that can be used by the beginner traders but there is no educational or research tools to assist the beginner trader.

What is the overall rating out of 10 for CrescoFX?

7/10.