Krestmarket is a platform offering CFD trading in forex, stocks, indices, futures, precious metals, energy, and cryptocurrencies. The platform claims to support trading through its proprietary software and cTrader. However, specific details about its trading products, trading conditions, and account types are not disclosed on its official website, leading to a lack of transparency.
Company Background and Regulatory Information
The "ABOUT US" page on the official website claims the company was founded in 2013 and is registered in Australia. However, further investigation reveals that this corporate history is not accurate, as the information is copied from the official website of brokerage firm TMGM.
Additionally, the platform claims on its website to be regulated by several financial regulatory authorities, as follows:
- Krestmarket Limited (Registration number 8424819-1) is registered in Seychelles and holds a Securities Dealer License from the Seychelles Financial Services Authority (FSA) (License number: SD037).
- Krestmarket™ is a trademark of TopFX Ltd, registered number HE 274180. The company is registered with the Cyprus Securities and Exchange Commission (CySEC) and holds a Cyprus Investment Firm (CIF) License (License number: 138/11), compliant with MiFID II.
- Krestmarket Australia Pty Ltd is registered with the Australian Securities and Investments Commission (ASIC), license number 436416.
- Trademax Global Limited is registered with the Vanuatu Financial Services Commission (VFSC), license number 40356.
However, investigations reveal that the Seychelles FSA and CySEC regulatory licenses claimed by the platform actually belong to TopFX company, while the ASIC and VFSC regulatory licenses claimed belong to the broker TMGM.
Trading Software
Krestmarket claims to support trading through its proprietary software and cTrader. Unfortunately, the download link provided on the website is blank, meaning users cannot actually download these tools for trading.
Account Types and Trading Conditions
Currently, the Krestmarket website does not disclose the specific account types offered by the platform, including spreads, leverage, minimum deposit requirements, and trading commissions. The lack of disclosure on these important trading details could influence investors' decisions on whether to join the platform.
Deposit and Withdrawal Methods
The specific methods of deposit and withdrawal are not clearly listed on the Krestmarket website. The absence of disclosed withdrawal and deposit methods, processing times, and whether fees are charged could impact users' liquidity and trust.
Agent Policy and Educational Resources
The platform does not offer any cooperative agent policy or educational resources for trading. For users looking to become agents or enhance their trading skills, the lack of these supports might be a significant limitation.
Company Address and Personnel
The official website does not disclose the company's real operational address, nor is there any publicly available information about the company's personnel. The unavailability of personnel information associated with the platform further reduces transparency.
Website Traffic and Template
According to data sources such as Semrush, the Krestmarket website receives less than 100 visits per month, indicating almost no user engagement.
Notably, the platform's website design greatly resembles that of several known scam platforms (e.g., provenancepartner, ZHOTXPRIMETRADE, GlobalBtc-Invest), which use the same website template. Many of these platforms are mass-produced scam sites.
User Reviews and Brand Exposure
There are almost no user reviews or news reports about Krestmarket available online. This indicates a lack of effective market exposure and possibly insufficient user support for its operation.
Contact Information and Social Media
The official website provides two contact methods: Whatsapp (17157214903) and email ([email protected]). However, the platform does not maintain accounts on mainstream social media such as LinkedIn, Facebook, Instagram, Twitter, YouTube, and lacks broader social media interaction, making it difficult to establish a wider connection with users.
Risk Report
- Lack of Transparency: The Krestmarket website fails to provide critical information about account types, trading conditions, deposit, and withdrawal methods, showing poor transparency.
- False Background Information: The business development history claimed by the platform does not match the actual circumstance and appears copied from TMGM's website, raising doubts about the platform's background.
- Inaccurate Regulatory Information: The platform claims regulation by several authorities, but these licenses actually belong to other companies, posing a risk of false representation.
- Low Platform Traffic and Similar Website Template: The official website’s monthly visits are extremely low, and it uses the same website template as multiple scam platforms, increasing the risk of being a scam platform.
- Lack of Social Media and User Feedback: The platform lacks accounts on major social media, and there are no user reviews to be found, lacking market exposure and credibility.
In conclusion, Krestmarket presents multiple uncertainties and risks. Investors should exercise caution when deciding whether to use this platform, especially given the lack of transparency and credibility.
