CrownWealth is a brokerage that has been around for a few months at the time of publishing this post. They claim to offer diverse trading instruments to the retail traders at competitive charges. In theory, their offerings are beyond attractive, but if you notice the smaller details, their actual intentions become clear.
Clearly, they are unregulated and management is making efforts to stay hidden. To know all the reasons as to why people should avoid them, continue reading. If you have prior experience with them, then share your thoughts in the comment’s section.
CrownWealth Operational Model
This platform in simple words is a trading exchange. Though the exact trading conditions and fees are not clear, we do not know which brokerage model they follow, but the lack of information is indeed concerning.
Cryptocurrencies, forex, precious commodities and stocks are all different instruments and carry different risk profiles. So, the trading conditions and fees vary and without knowing them prior will be a recipe for disaster.
Regulation and Contact Information
CrownWealth is said to be incorporated in the UK. They showcase the address and company number on their website. To verify their claims, we searched them on the FCA database. As expected, nothing relevant popped up.
Bluntly put, they are bluffing and have no rights to offer services to the public. Unlicensed entities like this firm are known to mislead people and eventually leave them with a hole in the client’s pocket. Below, we have listed the contact information that we gathered.
- Address – 7 Bell Yard, London, England, WC2A 2JR
- Phone – 447520642351
CrownWealth Red Flags
Any experienced investor or trader can spot boatloads of red flags on this platform. To begin with, they are operating without any required licenses. Clearly, they are not the ones that will maintain fairness in their operations and they do have conflict of interest with the clients.
Ways of reaching out to support the team seems mysterious and that by itself tells us a lot about their moral compass. Lastly, almost everyone involved on the management side is maintaining a low profile.
Verdict
Platforms like CrownWealth use fancy narratives and features to get the public hyped about the service. However, the chances of them delivering value is close to zero and as such, they should be avoided at any cost.
