General Information & Regulation
Crystal Ball, a trading name of Crystal Ball Markets LLC, is allegedly a Foreign Money Service Business (FMSB) registered and governed by the rules and regulations of the Financial Services Authority (FSA) of Saint Vincent and the Grenadines (262 LLC 2020). The broker claims to provide its clients with over 140 tradable financial instruments with flexible leverage up to 1:500 and tight floating spreads from 0 pips on the Mobius Trader 7 trading platform, a choice of three different account types, as well as PAMM/social/copy trading services and 24/7 customer support service.
Market Instruments
Crystal Ball advertises that it offers access to more than 140 tradable instruments in financial markets, including CFDs on currencies, agricultural commodities, metals, energy, stocks/ shares, indices, cryptocurrencies and options.
Account Types
Apart from demo accounts with virtual cash of $50,000, there are three live trading accounts offered by Crystal Ball, namely Micro (best for learners), Standard (best for professionals) and Pro ECN (best for self-starters). Opening a Micro account requires the minimum initial deposit amount of $50, while the other two account types have much higher minimum initial capital requirements of $300 and $1,000 respectively.
Leverage
Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Micro account can enjoy the maximum leverage of 1:1000, while the Standard and Pro ECN accounts can experience leverage of 1:500. Inexperienced traders are advised not to use too much leverage since leverage magnifies gains and losses.
Spreads
Crystal Ball claims that different account types can enjoy quite different spreads. In particular, the clients on the Micro account have spread from 1.9 pips, while the spread on the Standard account starts from 1.2 pips and only the Pro ECN account can enjoy raw spreads from 0 pips.
Trading Platform Available
The platform available for trading at Crystal Ball is Mobius Trader 7, available for Windows, Mac, Linux, WebTrader, iPad, iPhone, Android and Android Tablet devices. MT7 is advertised as a multi-asset platform for currencies, agricultural commodities, metals, energy, stocks/ shares, indices, cryptocurrencies and options trading. The broker says that it offers superior tools for comprehensive price analysis, use of algorithmic trading applications and PAMM/social/copy trading, as well as includes all the basic functionality of MT4 and MT5, with upgraded automation capabilities.
Deposit & Withdrawal
Crystal Ball accepts deposits and withdrawals via Visa, MasterCard, Perfect Money, Bitcoin and bank transfers. The minimum initial deposit requirement is said to be $50. There is no-commission deposit while the withdrawal fee is to be determined (TBD). As for the processing time of deposit and withdrawal requests, Bitcoin deposits require 24 hours, bank transfer deposits take 3-5 business days, and other deposits can be processed instantly. Bitcoin withdrawals require 24-48 hours, bank transfers take 3-5 business days, and other withdrawals can be processed within 24 hours.
Fees
Crystal Ball does charges an inactivity fee. If there has been no trading activity on your account for at least 6 months, an inactivity fee of $5 will be applied. If you request to withdraw your funds after no trading activity, the broker will reserve the right to charge you the equivalent amount of any banking fees incurred, or 10% of the total withdrawal amount.
Customer Support
Crystal Balls customer support can be reached by telephone: +44 1244 94 1257, email: support@crystalballmarkets.com or live chat. Besides, you can also follow this broker on some social media platforms such as Twitter, Facebook, Instagram, YouTube and LinkedIn. Company address: Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont, Kingstown. St. Vincent and the Grenadines.
2022-12-01 11:21
