CCFX Market is a broker website suspected of fraudulent activities, with its official domain crystalclearfxmarket.com registered on February 1st, 2024. The platform claims to offer investors CFD trading services across markets such as forex, indices, precious metals, energy, commodities, and cryptocurrencies.
Company Background and Regulatory Information
According to the information on crystalclearfxmarket.com, the full name of CCFX Market is CRYSTAL CLEAR FX MARKETS. The broker claims to have regulatory authorizations in multiple jurisdictions as follows:
- CCFX (SC) Ltd.: Registered in Seychelles, regulated by the Financial Services Authority (FSA) of Seychelles, registration number 8423606-1, license number SD025.
- CCFX B.V.: Registered in Curacao, regulated by the Central Bank of Curacao and St. Maarten (CBCS), registration number 148698(0), license number 0003LSI.
- CCFX (VG) Ltd.: Claimed to be regulated by the Financial Services Commission (FSC) of the British Virgin Islands, registration number 2032226, license number SIBA/L/20/1133.
- CCFX ZA (PTY) Ltd.: Claimed to be registered as a financial services provider in South Africa, FSP number 51024.
Additionally, the platform claims that there is also a registered company in Australia with ABN number 2018AD947.
After verification, the so-called registered company number "2018AD947" in Australia does not exist.
Moreover, all regulatory information mentioned on the CRYSTAL CLEAR FX MARKETS website actually belongs to another broker "Exness". The crystalclearfxmarket.com does not have a legitimate business entity and is not regulated by any authoritative body, making it a fraudulent site that uses other brokers’ regulatory information.
Trading Products
CRYSTAL CLEAR FX MARKETS claims to offer trading services for a variety of financial derivatives:
- Forex: The forex market covers major currency pairs globally, such as EUR/USD, USD/JPY, influenced by various factors including economic data and central bank policies.
- Indices: Investors can trade global major stock indices via CFDs, such as the S&P 500, NASDAQ, etc.
- Precious Metals: Precious metals like gold and silver are seen as safe-haven assets, especially during periods of global economic uncertainty.
- Energy: Energy commodities like oil and natural gas, whose prices fluctuate based on global supply and demand, geopolitical events, etc.
- Commodities: Involving agricultural products and industrial metals, the market experiences high volatility.
- Cryptocurrencies: Digital currency markets, like Bitcoin and Ethereum, are highly volatile and popular tools for profit among investors.
Account Opening
The steps to open an account with CRYSTAL CLEAR FX MARKETS are as follows:
- Visit crystalclearfxmarket.com and click on "START LIVE TRADING" or the "SIGNUP" button at the top right to go to the account application page.
- Fill in your name, email, and set a login password in the account application form. Once the application form is submitted, the account is successfully created.
- After logging into the account, users need to complete the KYC verification procedure to start trading.
Investment Plans
CRYSTAL CLEAR FX MARKETS offers four investment plans with highly tempting returns: Basic, Silver, Premium, VIP
Basic
- Investment Amount: $1,000 — $10,000
- Expected Return (ROI): 15.2% within 24 hours
- Option to copy junior traders
Silver
- Investment Amount: $10,000 — $50,000
- Expected Return (ROI): 18.5% within 24 hours
- Option to copy professional traders
Premium
- Investment Amount: $50,000 — $150,000
- Expected Return (ROI): 25.5% within 24 hours
- Option to copy expert traders
VIP
- Investment Amount: Starting from $150,000
- Expected Return (ROI): 35.2% within 24 hours
- Option to copy expert traders
In addition, the trading cycle is divided into short-term (monthly) and long-term (annually).
Trading Platform and Deposits/Withdrawals
CRYSTAL CLEAR FX MARKETS claims to offer customers the MT4/MT5 trading platform, but after verification, MT4/MT5 does not list this broker. Additionally, the platform only allows deposits and withdrawals through cryptocurrencies, making it difficult to trace funds, and increasing the potential for fraud.
Conclusion
Traderknows reminds investors that CRYSTAL CLEAR FX MARKETS (crystalclearfxmarket.com) is indeed a fraudulent platform without a legitimate business entity or any regulatory license. It not only steals regulatory information from other brokers but also lures investors with false promises of high returns.
Investors are advised to choose trading platforms carefully, ensuring that they are regulated by authoritative institutions to protect their funds and avoid being deceived by similar fraudulent platforms.
