Fxcrownstone Review: Is Fxcrownstone.com Legit or Scam?
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Legitimacy of Brokers Creates an Important Concern among Investors in Terms of Investing with Safeguarded Assets. One such broker getting into scrutiny is Fxcrownstone. This review of Fxcrownstone delves extensively into the broker’s aspect: Is Fxcrownstone legit?
Fxcrownstone Overview
Fxcrownstone offers access to over 120 markets, including Indices, Global FX, Oil, Stocks, Gold, and CFDs, all through the MetaTrader 5 trading platform. The broker offers three account types, as follows:
Standard Plan:
Minimum deposit of $1,000, leverage up to 1:100, and spreads starting from 1.8 pips.
Elite Plan:
Minimum deposit of $15,000, leverage up to 1:200, and spreads starting from 1.4 pips.
Pro Plan:
Minimum deposit of $50,000, leverage up to 1:400-with raw spreads and commissions applied.
The broker’s official website is https://www.fxcrownstone.com/.
Freshly Registered Domain
The age of the domain is one of the significant proofs on which the credibility of the broker is assessed. Fxcrownstone’s domain registered on April 2, 2024, new and relatively fresh in the industry. A newly built domain, however, always marks caution because it usually stands in line with some un-proven experience and trustworthiness.
Regulatory Nonaccountability
A key cornerstone of trust in the financial world is regulation. Fxcrownstone holds registration in Saint Lucia as an International Business Company. However, this registration does not mean that the company is authorized by the relevant financial authorities. Well, the Financial Services Regulatory Authority (FSRA) of Saint Lucia has pronounced that forex trading activities are not licensed in the country. And this, naturally, implies that there is no proper regulatory coverage under which a Fxcrownstone operates, leaving investors with
Warning Signals and User Complaints
Several alarming signs have developed around Fxcrownstone’s operating environment:
Negative Reviews:
On Scamadviser and many other platforms, there is negativity around Fxcrownstone in the form of users’ doubts regarding the broker’s legitimacy.
User Complaints:
Users report high revenue loss amounts and difficulties with withdrawal. One user, for example, complained about a loss of $23,500 under the stewardship of their Relationship Manager.
Why Fxcrownstone Could Be a Scam?
There are several reasons that Fxcrownstone could be suspected of being a scam:
Unregulated Activities:
Brokers conduct business without proper regulatory oversight, which means that there is no responsibility for any unethical practice.
User Reporting Frauds:
Several users claim that they have been victims of fraud and scamming by Fxcrownstone and that this broker has now rebranded itself by a new name to continue its fraud practice.
Negative Online Reviews:
Negative review bounces everywhere in different areas, while scoring poorly in trust platforms created like Scamadviser.
Conclusion
This Fxcrownstone broker review sums up lots of red flags. These include a newly registered domain, absence of regulation, lots of user complaints, and high-risk investment offerings. All investors should be warned against any engagements with Fxcrownstone in any dealings after due research and caution before any form of investment. The use of reputable and well-regulated brokers is important in investments as it ensures that clients enjoy secure trading experiences.
Take Action Today!
If you have been a victim of a scam broker like Fxcrownstone, don’t hesitate to seek professional help. For victims of cryptocurrency and other frauds, Crypto Scam Investigation is a top agency offering investigation and recovery services. To begin retrieving your stolen money, visit cryptoscams.com.au right now.
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