Broker Name: Crux24
Broker Type: Forex
Country: St. Vincent and the Grenadines
Operating Since (Year): 1999
Address: Suite 305, Griffith Corporate Centre, Beachmont Kingstown, P.O. Box 1510, St. Vincent and the Grenadines
Broker status: Not regulated
Email: [email protected]
Minimum deposit ($): $250
Maximal leverage: –
Scalping allowed: –
- General Information
- Regulations and Licensing
- Account Types
- Signing Up
Crux24 Is a broker site that came across our radars as a possibly dubious website. It did not take much investigation to realize that our suspicions were valid. It is rear when writing a broker review, to encounter a scam broker quite as lazy as Crux24. On the broker’s website it indicates that their address is Suite 305, Griffith Corporate Centre, Beachmont Kingstown, St. Vincent and the Grenadines. It only took a google search to find out that this is an address that has been in use by various scam companies to trick people into believing in their legitimacy. Furthermore, the broker claims that they have had presence on the market since 1999, however, there is few if any mention of them online and any reviews we could find about Crux24 have been very recent and largely negative.
What Assurances Does Crux24 Claim?
The website has an appealing interface, fainting legitimacy through what might at first glance seem like a professional broker website. However, when going through their various policies and terms and conditions, it becomes apparent that these are simple template statements likely taken from other websites. In addition, there is no mention of any official accreditation. Nor are any regulating organization identified, that are usually tied to these types of broker firms. This all cements Crux24 as a scam website, as no proficient trader would ever consider giving any of their business to such brokers, meaning that they are geared towards scamming unsuspecting beginners that are not yet savvy to the perils of the online trading world.
Usually, when dealing with a legitimate broker site, we find a variety of options in account types to sign up for. These can include a free beginner account, which is intended mostly for educational and/or orientation purposes, then a number of mid-tier accounts with varying deposit amounts and perks and then there are the vip and elite accounts for expert traders with large cashflow (these can be in the hundreds of thousands or even millions). Crux24 however, has only two account types and of these two, the first has a wildly fluctuating deposit fee and the second doesn’t have nearly the necessary amount of deposit fee requirement to indicate that serious traders would consider it a viable account.
First tier has a deposit requirement of 0-10’000 EURO, which is already is a red flag in its ambiguity. Furthermore, there are no clear benefits and perks that would indicate any gradation in the wild escalation from free to 10’000 EURO. The second tier has 10’000+ EURO deposit requirement and again, no specific detail as to what you will be getting from this account.
Signing up to the broker is a simple enough process, it only takes the most basic personal and bank information to register. These are no added security fields, no questions regarding the volume of trading the person that is signing up does on a regular basis. In short, no fields that an experienced trader would expect to find when signing up for an account. This is most probably done deliberately, so that novice traders don’t get dissuaded from signing up and so that the process is done quickly, after which they can move on to scamming those very people out of their money.
What else is there to say about Crux24, that hasn’t become painfully obvious in our review? Not much, from their frankly shockingly un-original attempts at a legitimate website, to their lackluster work on the accounts and their marketing, not to mention the fact that their claimed address can be discovered as fraudulent with a simple google search, it’s almost as if they are trying to be found out.
I cannot state this more plainly, no one should attempt to give any business to this broker.
- Trading Instrument