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Crown Finance Review - is it scam or safe?

Crown Finance review - Is crown-finance.com scam or good forex broker?

RATING: 1 / 3 REVIEWS ForexBrokerz Crown Finance
Crown Finance is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Crown Finance is a forex and CFD broker, which recently has come into the spotlight of a FCA investigation in the UK. If you are considering opening an account with them be sure to read this review first.

 

Account type Min. deposit Max. leverage Spreads
Basic Account $250 n/a 3,9 pips, floating
Advanced Account $2500 n/a n/a
Professional Account $5000 n/a n/a
Gold Account $10 000 n/a n/a
Platinum Account $25 000 n/a n/a
V.I.P. Account $50 000 n/a n/a

 

Crown Finance Advantages:

 

Good variety of trading instruments, including crypto CFDs

 

Crown Finance offers its clients some 51 forex pairs, including exotic currencies like South African Rand, Singapore Dollar, Swedish Krona, Russian Rubla, Polish Zloty, Norwegian Krone, Mexican Peso, Israeli Shekel, Hungarian Forint,  Hong Kong Dollar, Danish Krone and Chinese Yuan. 

 

The broker also offers CFDs on agricultural and energy commodities like cocoa, coffee, corn, cotton, orange juice, soybean, sugar, wheat, oil and natural gas, spot metals, including gold, silver, palladium, platinum and copper, 23 indices, stocks, ETFs, bonds, as well as crypto CFDs on a number of major coins like Zcash, Ripple, Monero, Stellar, Qtum, Tron, NEO, Litecoin, IOTA, Ethereum, Ethereum Classic, EOS, Dash, Bitcoin Gold, Bitcoin Cahs, Bitcoin and Cardano. Still here you may check our list of brokers, also offering Bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Crown Finance Disadvantages:

 

FCA warning, Crown Finance mimics a regulated company

 

Recently the British Financial Conduct Authority (FCA) has issued a warning against Crown Finance, accusing them, not only of targeting investors in the UK without authorization, but also of mimicking a FCA regulated company – the CROWN FINANCE LIMITED.

 

 

Crown Finance, which is registered on St. Vincent and the Grenadine and is not regulated by the FCA, has been using the name, ‘firm registration number’ (FRN) and the address of the authorised company to suggest they are genuine. This is called a ‘clone firm’, the regulator points out.

 

“These scammers typically cold-call investors to promote shares, property or other investment opportunities that are non-tradable, worthless, overpriced or even non-existent”, the FCA also says in its warning against Crown Finance. 

 

Trading with properly licensed financial intermediaries is crucial for the safety of any investment. Licensed brokers are obliged to follow strict fiscal and ethical rules, including to maintain a minimum capital adequacy ratio, to keep all clients money in protected, segregated accounts and in some cases even to insure traders capital. 

 

Under the FCA backed Financial Services Compensation Scheme for example, in case the broker goes under, traders can receive back up to 50 000 GBP of their capital. Similar compensation scheme with the CySEC in the Cyprus guarantees traders up to 20 000 EUR of their investment. Here you may check our list of brokers, also licensed by FCA:

 

>>FCA Regulated Forex Brokers<<

 

Horrible spreads

 

When we opened the trading platform the EURUSD spread was as high as 3,9 pips, which is simply horrible. Have in mind that with a standard account traders are used to spreads starting below 1,5 pips. Here you may check our list of brokers offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

MetaTrader4 not supported

 

Crown Finance has a web based trading platform, which looks pretty familiar to us, as we have seen a very similar version of it being used for binary options trading.

 

 

The platform is overly simplified and lacks lots of features, including the option to run automated trading sessions, standard with well known trading solutions like the MetaTrader4. Here you may check our list of brokers, offering MetaTrader4: 

 

>>Find other MT4 brokers here<<

 

High minimum deposit requirement

 

With Crown Finance you can open a Basic Account with 250 USD, Advanced Account with 2500 USD, Professional Account with 5000 USD, Gold Account with 10 000 USD, Platinum Account with 25 000 USD and a V.I.P. Account with 50 000 USD. Just have in mind that some big, well established brokers like FBS and IG do not have a minimum deposit requirement at all.

 

Few payment methods

 

You can deposit or withdraw funds at  Crown Finance with major credit or debit cards like VISA and MasterCard, as well as with a bank wire. However we miss some popular e-wallets like SkrillNeteller and PayPal and as crypto payments are getting more and more popular, here you may check our list of brokers accepting bitcoin.

 

Conclusion:

 

Crown Finance is an unregulated offshore broker, currently investigated by the FCA in the UK. Keep in mind that dealing with unregulated brokers comes with a tangible risk of loosing your money to scammers. Our strong advise is to choose only brokers licensed by respected financial institutions.

Latest news about Crown Finance
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Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
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UK FCA MT4, Web, MT4
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Traders` reviews for Crown Finance

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Crownfinance - Scam Website

Crownfinance is scam all my money USD 5262.00 and said will help trade for to prove they are good in investment after all withdraw also cannot and i doesn't do any trade and my money is lost and balance cannot take back. At last said will help me to withdraw and scam me again than disappear. i really want take action on these webpage i got evidence to prove that what should i do? Please stay away all of these trading online platform

Hng Cong Yu 01/04/2019

Crown Finance is a SCAM

I transfered $6,000 (US) dollars last year and would only accept one bonus incentive of $1,000. Which is how they attempt to prevent you from making any withdrawals at any point from your account.

After months of trading and taking my account from $7,000 to $26,000 I put in for a withdrawal when abruptly Mike and Crown-Finance went off-line for weeks while they changed the website and rules for when withdrawals could happen. They changed the platform and reworded the language on their website on when you were able to withdraw any funds. Interestingly enough, because I only accepted a small bonus, my balance still warranted that I should have been able to take a withdrawal on my funds. When Mike realized that, he then came up with telling me that until I apologized to Crown-Finance publicly I would not be able to withdraw funds. Crown-Finance is not only a fraudulent company, the Brokers they have working at Crown-Finance are unprofessional, deceptive and unethical to say the least.

I am still pursuing both legal and social channels so this does not happen to others. PLEASE DO NOT WIRE TRANSFER ANY FUNDS TO THEM. You will never see a return of any of your funds.

Roberta Meneken 01/03/2019
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