Crystal Ball Markets Review 2024: Regulated Broker With Great Reviews
Imagine you are looking for a broker and you come across this Crystal Ball Markets review. The first thing you notice is that this company completes two crucial factors, both regulation and good reviews. You would think that further research isn’t required and you’d deposit your funds immediately.
However, offshore and regulation by a top-tier authority like FCA or the SEC aren’t the same in terms of rules, which is exactly why further research is required. Keep reading our assessment to learn all about this brokerage, and make sure to check out Smart Trade CFD.
About Crystal Ball Markets
Crystal Ball Markets is an online platform offering Over-The-Counter leveraged CFDs. Through licensed Tier-1 liquidity providers, the brokerage offers access to the financial markets for currencies, agricultural commodities, metals, energy, stocks, shares, indices, and cryptocurrencies.
While the broker is regulated, there is no investor protection because it’s not regulated by top-tier authorities. This is a huge drawback because, despite regulation, traders are not covered in the event of losing their funds. We also noticed that the firm isn’t as transparent as it presents.
The benefit of this company is that they offer OTC services, which means they are located at the address provided in St. Vincent and the Grenadines. However, according to WHOIS data, the domain is registered in the US. Let’s talk about regulations and what license this broker has.
|Crystal Ball Markets LLC
|Suite 305, Griffith Corporate Centre, Beachmont, Kingstown. St. Vincent and the Grenadines
|Financial Authorities Warnings
|If a withdrawal is possible
|If Active on Social Media:
|France, India, United States, Canada;
|No compensation fund;
Crystal Ball Markets Regulation
Unlike the unregulated brokerage Binetrix, Crystal Ball Markets LLC is a Foreign Money Service Business in regulatory compliance with FINTRAC for foreign exchange dealing and dealing in virtual currencies (MSB number: M21983070).
The broker has been profiled by Dun & Bradstreet number 817053117. The broker is registered and governed by the Financial Services Authority (FSA) of Saint Vincent and the Grenadines (262 LLC 2020).
However, despite providing regulation from SVG, the majority of traders come from France and the US, where regulation by the AMF in France and the SEC or CFTC in the US is required. It’s crucial to always check regulatory requirements in your country before choosing a firm like CBM.
Crystal Ball Markets Features
The Crystal Ball Markets trading platform Mobius Trader 7 is a multi-asset platform for trading currencies, agricultural commodities, metals, energy, stocks/shares, indices, cryptocurrencies, and options. It provides excellent features for algorithmic trading applications, PAMM/Social/Copy trading, and thorough price research.
Maximum leverage is 1:1000 and it is offered with a specific account type. Here is a breakdown of additional features and tools the firm offers:
- Web platform
- Technical analysis
- Built-in technical indicators
- Analytical tools
- Reverse, lock, and fix an order into the quoted currency
- Zero Slippage
- Economic events calendar on charts
- Preliminary calculation of margin requirements before placing order
- Partial closure of open positions lots
- Currency exchange between trading accounts
- Multiple base currencies available
Crystal Ball Markets Account Types
There are three options to consider when it comes to account types. The Micro account allows traders to start with a Crystal Ball Markets minimum deposit of $50. This account offers floating spreads starting from 1.9 pips and leverage of up to 1:1000. This plan is advisable for beginners who are only learning. Traders can utilize EAs, engage in scalping, and participate in news trading.
For those seeking ECN experience, the PRO ECN Account has no maximum balance limit, floating spreads starting from 0 pip, leverage up to 1:500, and compatibility with EAs, scalping, and news, which is an option for more experienced traders.
The Standard Account is somewhere in the middle and it’s suitable for traders of all types. It’s operating under the STP model like the Micro Account, however, it requires a deposit of $300 instead of $50. You can also expect floating spreads from 1.2 pips, leverage up to 1:500, EAs, scalping, and news trading. Each account caters to various preferences and experience levels.
Crystal Ball Markets Reviews
There are almost 40 comments on Trustpilot about this company and every single one of them is a favorable comment praising the firm and recommending its services. When you look up the name, you will notice that there are no unfavorable comments, indicating how trustworthy this broker is.
While reviews can be fabricated, we doubt that is the case here. Trustpilot is a verified provider so it can be trusted and its overall score isn’t based solely on comments. On Forex Peace Army, there are also 3 comments and only one unfavorable, that talks about pushy tactics.
Crystal Ball Markets Withdrawal and Deposit Methods
Deposits can be made using credit/debit cards, Perfect Money, wire transfers, and cryptocurrency. The deposits are usually instant unless you use a wire transfer where the expected time frame is 3-10 business days.
Withdrawals can be made through the Secure Client Area by completing a form. They will be processed within 24 hours or less if Perfect Money or crypto was used, otherwise, you can expect the money within 3-10 business days. There are no additional fees when depositing or withdrawing your funds.
Weighing the Pros and Cons
Can I Make Money While Trading Online?
The Crystal Ball Markets broker may seem like a good choice, however, we recommend choosing brokers that are regulated by top-tier authorities like FCA, ASIC, the SEC, or IIROC. Offshore regulation doesn’t have many perks like a compensation fund, plus it’s not as strict as others.
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What is Crystal Ball Markets?
Crystal Ball Markets is an online platform offering leveraged CFD trading across various financial markets.
Is Crystal Ball Markets Regulated?
Yes, Crystal Ball Markets is regulated by FINTRAC for foreign exchange and virtual currencies and is registered under the Financial Services Authority of Saint Vincent and the Grenadines.
How to Find a Regulated Broker?
To find a regulated broker, check for licensing from reputable financial authorities, verify investor protection measures, read reviews, and ensure transparency.