CruxInv – Is It Legit?

Website URL: www.cruxinv.com

Founded: Not Mentioned

Regulations: Unregulated

Languages: English, Italian, German, Spanish

Deposit Methods: Bank Wire, Credit & Debit Cards, OK Pay, Bitcoin

Minimum Deposit: 250 Euros

Free Demo Account: Yes

Number of Assets: 200+

Types of Assets: Foreign Currencies, Cryptocurrencies, Indices, Commodities, Shares, Binaries, CFDs

Trading Accounts and Conditions

CruxInv offers you 4 different types of trading accounts:

• Silver: The minimum you are required to deposit to use this type of account is 250 Euros.
• Gold: The initial deposit you need to make needs to be at least 5,000 Euros.
• Diamond: The first deposit in this account needs to be at least 10,000 Euros.
• VIP: The minimum deposit for this premium account needs to be 50,000 Euros.

The broker claims that their spreads start from 0 pips, however, when we checked their demo account, we found out that the EURUSD spreads actually were at 3 pips. The leverage ratio offered by this broker is at a maximum of 1:200.

CruxInv – Advantages

There are no advantages to trading with CruxInv.

CruxInv – Disadvantages

Here are all the reasons why it would be a bad idea to trade with this broker:

• Unregulated, Anonymous Brokerage

CruxInv, on its home page, provides two addresses – one in Luxembourg, and the second in Cyprus. And then it gives us a contact number, however, the country code used (621) is a Syrian country code.

There is no company name provided, so we do not know what entity is behind this broker’s operations. There is only a single reference in this broker’s website that it follows Bulgarian governing laws.

Now, the broker has also not provided any information on its licensing status. However, to ensure that we did not miss anything, we checked the online registers of the financial authorities of the countries whose addresses are listed on CruxInv’s website.

We checked the CSSF in Luxembourg (Commission de Surveillance du Secteur Financier), the CySEC in Cyprus (Cyprus Securities and Exchange Commission) and the FSC in Bulgaria (Financial Supervision Commission). We did not find any broker by the name of CruxInv listed as a regulated broker on any of their online registers.

What this means is that you will be dealing with an unlicensed, anonymous brokerage if you contract with CruxInv. And dealing with such a broker puts your funds at risk.

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• Blacklisted by CONSOB

We are not the only ones to have noticed that this broker is operating illegally. The Italian financial regulator, the CONSOB, has also noticed this issue. In fact, the government watchdog has issued a warning against dealing with this CruxInv. According to the warning, this broker is a potential scammer and that trading with it would be extremely risky for you.

A government authority will issue a warning as serious as this is if they have received a large number of complaints against a brokerage. So, being blacklisted by a reputed regulator such as the CONSOB is clear proof that this is not a legitimate broker and that it is in all probability a scammer.

• MT4 Platform Provided by Third Party

Normally, we would consider a broker supporting the MetaTrader4 platform as a huge advantage. It the world’s best trading software, with over 80% of traders as well as brokers using it. This is because it has such a simple interface that even novice traders have no trouble using it. Furthermore, the platform has some really excellent features for advanced traders – charting and market analysis tools as well as automatic trading options.

However, in CruxInv case, it is not a plus. This is because this software is licensed to another company by the name of Polis Systems Ltd. And Polis Systems’ license for the MT4 platform has also been used by a scam broker called SwissAZ. So, the fact that CruxInv is using a platform that is used by another scammer raises a lot of suspicions about its legitimacy.

• Very High Spreads

As we already mentioned earlier in our review, CruxInv claims to offer spreads that start at just 0 pips. However, when we accessed their demo account, we found that the EURUSD forex pair carries a spread of 3 pips, which is extremely high.

A spread that ranges between 0.5 pips and 1.5 pips is considered favorable for traders, since the cost of a trade is affordable. Anything higher than that makes the trade to expensive for a trader.

• High Leverage

CruxInv offers leverage ratios as high as 1:200, which, if they were regulated and legitimate brokers, would be a positive, since it would allow traders to expand their trading strategies to include higher-risk trades.

However, when you are dealing with a broker that is not just unregulated but also on a government agency’s blacklist, then this leverage ratio is just another indication of the risk you will face if you contract with CruxInv.

It is also necessary for you to know that most financial regulators have banned the offering of such high leverage ratios for precisely the level of risk they carry for traders. Most regulators in Europe, Canada and the US have capped leverage ratios at 1:30.

• Bonus Withdrawal Conditions

CruxInv offers its customers trading bonuses, which is a highly controversial promotional offer that is banned in most regulated markets. This is because of the unfair withdrawal conditions attached to such bonuses. Which is what we find with this broker too.

To be able to withdraw the funds and profits made from bonuses, you will need to meet an extremely high trading volume. And if you do not meet that volume target then your request for withdrawals will be denied. And most traders will find it impossible to meet those targets since they are too high.

Conclusion 

CruxInv is not a legitimate broker. It is anonymous, unregulated and blacklisted by the Italian financial watchdog. We would recommend that you not deal with this broker at all.

CruxInv

2.5

User Experience

3.2/10

Payment Options

2.2/10

Security

2.3/10

Support

2.4/10

Reputation

2.2/10

Pros

• None

Cons

• Unregulated, Anonymous Brokerage
• Blacklisted by CONSOB
• MT4 Platform Provided by Third Party
• Very High Spreads
• High Leverage