Crown Capital FX a Legit Broker?

This Crown Capital FX review cannot stress strongly enough that traders need to stay away. If you receive an unsolicited call or email from this broker, do not respond. Warnings from numerous international financial regulators say the same, run fast and run far. Don’t get your money tangled up with this broker because you’ll never see those funds again.

Crown Capital FX Review: Regulation and Security

This broker is an unregulated broker, operating without any oversight or authorization from any financial regulator. Nobody is checking their operations or applying restrictions on their activities. They do not have to maintain a capital minimum or segregate client accounts. Any traders investing with this organization are at substantial risk of losing their funds with no chance of recovery.

Furthermore, our Crown Capital FX review discovered a warning about the Crown Capital FX scam from the UK’s financial regulator, the FCA. In 2014 they published a statement declaring that they believe the broker to be offering services to UK residents without any authorization and advising clients how to protect themselves from this kind of scam. The Hungarian MNB and Italian CONSOB repeated the warning.

Crown Capital FX Review: Where Are They Based?

Our Crown Capital FX review determined the broker to be based in Jakarta, Indonesia. Their operating company is Crown Capital Management. As an Indonesian broker, they are required to have a license from BAPPEBTI, the Indonesian financial regulator. Without this license, they are not legally able to offer forex and CFD investments, but it appears that the broker does so regardless of this fact.

Deposit and Withdrawal Methods

The broker supports just a few methods, including credit cards and online payment processors. Former clients of the broker report having significant difficulty making withdrawals. These reports include stories of confusing and contradictory instructions from representatives, even telling some clients that they must open a new account to which their funds will be transferred.

Their manipulative practices seem to have prevented many clients from withdrawing their funds, essentially letting the broker keep their money. Without any financial regulator reigning them in, the broker can continue these activities unchecked. Clients have nobody to reach out to for legal mitigation of their activities and are left in the dark as to the status of their withdrawals.

Crown Capital FX Review Summary

Our Crown Capital FX review found CapitalFX to be operating as a classic boiler room operation. There is little to no ambiguity here. They are aggressively pushing investments on clients in the hope of driving up their revenue with no care for the quality of the investments. With constant problems processing withdrawals, it seems like the broker has little intention of letting their clients cash out.

These kinds of practices from a modern forex and CFD broker are staggering. Without effective financial regulation for this broker, regulators around the world can’t do much more than put out warnings for their jurisdictions. Anyone still trading with this broker needs to get their money out as quickly as possible, and it looks like the broker doesn’t have any intention of letting you do so. At this point, your only option is to implement chargeback to recover your lost funds. Our team can help you put this powerful tool into action. Contact us today to get your money back sooner.