Looking to read CRS Forex review? Is Crsforex.com a scam? Read honest review to know about this forex broker before trading here.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
About CRS Forex Broker
CRS Forex also known as Crsforex.com is an offshore brokerage owned and operated by CARSI TRADING AND INTERNET SOLUTIONS D.O.O. with a lot of promises for forex traders. The forex company is based in Bulevar Skenderbeu BB ULCINJ.
The broker offers different account packages such as
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
Deposit and Withdrawal
Withdrawal process:
CRS Forex FX leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
CRS Forex FX Minimum Deposit:
CRS Forex deposit is indicated as $100 based on the account type. In comparison, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
As for the funding methods, the broker offers wire transfer, credit cards, Skrill, Neteller, Sofort and PayPal.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
CRS Forex Platform:
CRS Forex claims to use the industry standard MetaTrader 5 (MT5) platform. But in writing this review, we were not able to verify what parameters are set in the software. It should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
CRS Forex leverage can get up to 1:500. This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, however, it equally increases the risk of sudden and excessive losses. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50.
Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
What We Discovered about Crsforex.com Broker
First of, Crsforex.com is based in Montenegro. Montenegro is not an offshore zone, but neither is it a jurisdiction imposing strict regulatory controls on companies offering brokerage services. Brokers based there are not subject to significant supervision and are not required to provide guarantees to their clients.
Again, Crs Forex does not provide access to Terms and Conditions, Customer Agreement or other documentation. Because of this, we cannot know exactly what terms we are agreeing to.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
CRS Forex Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Bottom Line:
CRS Forex FX located at Crsforex.com claims to appear like a trustworthy trading broker, however, that cannot be trusted. From indications, we would advise traders to steer clear from this broker as it likely a platform run by scammers. To this end, we urge our readers to rely on regulated brokers like this or any licensed entity.
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