CrestyBase Trade Fx claims to be a forex and CFD broker with over 20 years of history and global presence. However, this website is a low-effort scam targeting inexperienced traders. In this review, we’ll teach you how to identify trustworthy brokers and suggest reliable companies for trading financial instruments.
CrestyBase Trade Fx Regulation
When you visit a legitimate broker’s website, you’ll find clear information about the owning company, its location, and its regulatory status. Licensed financial service providers also offer comprehensive legal documentation.
CrestyBase Trade Fx fails to disclose its owning company and does not provide access to Terms and Conditions, Customer Agreement, or other binding documents. Without knowing who you are dealing with and the terms of the deal, it is risky to invest your money.
Due to this anonymity, CrestyBase Trade Fx’s claims of being regulated are clearly false. It claims to be based in the USA, which has strict regulatory requirements for brokers. To operate as a forex broker in the US, a company must register as a futures commission merchant and foreign exchange dealer with the CFTC and be a member of the NFA.
But at the same time, the FAQ section claims that the unnamed company holds licenses from Malta Financial Services Authority (MFSA), the Labuan Financial Services Authority (Labuan FSA), the Vanuatu Financial Services Commission (VFSC), and the British Virgin Islands Financial Services Commission.
A check of the records of all these financial regulators shows that there is no licensed broker using the CrestyBase Trade Fx brand and domain.
If you plan to invest in financial instruments, be cautious of fake brokers online. Always verify if the broker you choose has the necessary licenses. Working with a company authorized and supervised by regulatory institutions like the CFTC (US), ASIC (Australia), FCA (UK), or CySEC (EU) offers many benefits.
Trading Platform
On the CrestyBase Trade Fx website we see sample images of a mobile trading app. But after registering an account, we only get access to an imitation web-based trading platform. This fake platform lacks even basic functionality for placing orders.
Even if CrestyBase Trade Fx had a more convincing platform, it would not make the website credible. Fake brokers often use rigged trading software to deceive victims into thinking their money is being invested, but the trade is entirely fake.
Legitimate brokers provide clients with a variety of trading software options, including desktop, mobile apps, and web-based platforms. The most widely used platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are industry standards because they offer extensive features such as customization options, multiple account usage, custom scripts for automated trading, and backtesting trade strategies.
Minimum Deposit
The leading brands in the industry offer beginner traders starter accounts with a very low minimum deposit. You have no good reason to take chances with shady brokers like CrestyBase Trade Fx.
Payment Methods
In the CrestyBase Trade Fx deposit menu, we see a choice between cryptocurrencies and e-wallets like PayPal. But in practice, only one of these options really works – Bitcoin.
Scammers prefer cryptocurrencies because these transactions cannot be refunded. While some legitimate brokers accept digital currencies like Bitcoin, they also offer transparent payment methods such as credit/debit cards, bank transfers, or popular e-wallets like PayPal, Neteller, or Skrill.
Trading Instruments
CrestyBase Trade Fx advertises trading in forex, indices, stocks, cryptocurrencies, and NFTs. However, as demonstrated, this anonymous website lacks both the legal authorization and the technological capacity to genuinely facilitate trading in financial instruments.
CrestyBase Trade Fx Spread
CrestyBase Trade Fx provides no information on the trading parameters it claims to offer. Legitimate forex brokers, however, offer various account types tailored to clients’ different capital and investment needs. They also provide clear, detailed information on trading parameters such as leverage, spread, commissions, and order execution methods.
CrestyBase Trade Fx Leverage
When registering an account you can select a level up to 1:500.
This is not the level you see with regulated brokers. Trading with high leverage allows for higher profits but also increases the risk of sudden, excessive losses proportionally. Leading regulators limit leverage for retail traders. In the EU, UK, and Australia, the maximum permitted leverage is 1:30, and in the US, it is 1:50. This maximum level applies only to major currency pairs, with even more limited leverage for more volatile assets.
Withdrawal Requirements
Since CrestyBase Trade Fx does not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Typically, fake brokers make withdrawing money impossible by imposing huge fees and impossible-to-fulfill traded volume conditions.
CrestyBase Trade Fx Pros and Cons
| Pros | Cons |
| Notning to mention | Anonimous |
| False claims of reulation | |
| No legal documents | |
| Fake trading software | |
| Only crypto payments |