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The WikiFX Score of this broker is reduced because of too many complaints!

Castle Rock FX

Saint Vincent and the Grenadines|2-5 years|
White label MT4|Regional Brokers|High potential risk|

https://www.castlerockfx.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
CRMarkets-Demo MT4
Server Location United Kingdom

Contact

https://www.castlerockfx.com/
Suite 305, Griffith Corporate Centre, Kingstown, St. Vincent and the Grenadines.
https://twitter.com/fx_castle?s=20&t=VHfu9yn9bIV9V5F6GfdV6w
https://www.linkedin.com/company/76934864/admin/
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

Other ways of contact

Broker Information

More

Company Name

CR Markets, LLC

Abbreviation

Castle Rock FX

Platform registered country and region

Saint Vincent and the Grenadines

Company website
Twitter
Instagram
Linkedin

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 3
Previous Detection : 2024-07-17
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The United KingdomFCA regulation (license number: 612233) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 5 for this broker in the past 3 months. Please be aware of the risk!

WikiFX Verification

Castle Rock FX · WikiFX Survey

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    Castle Rock FX · Company Summary

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

    General Information

    Castle Rock FX Review Summary in 10 Points
    Founded 2020
    Registered Country/Region Saint Vincent and the Grenadines
    Regulation FCA (suspicious clone)
    Market Instruments currency pairs, cryptocurrencies, precious metals (Gold, Silver, Platinum), energy (Brent, WTI, NATGAS) and other financial derivatives
    Demo Account N/A
    Leverage 1:1000
    EUR/USD Spread From 1 pip
    Trading Platforms MT4/5
    Minimum Deposit $5
    Customer Support Live chat, web form, phone, email

    What is Castle Rock FX?

    Launched in 2020, Castle Rock FX is an unregulated STP forex broker registered in the Saint Vincent and the Grenadines, offering its clients access to a wide range of trading instruments including currency pairs, cryptocurrencies, precious metals, energy, and other financial derivatives with flexible leverage up to 1:500 on the worlds most popular MT4 trading platform.

    Castle Rock FX

    In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

    Pros & Cons

    Pros Cons
    • An extensive range of trading assets and markets • suspicious clone FCA license
    • Different tiered trading accounts with varying deposit minimums and leverage levels • Reports of being unable to withdraw and severe slippage
    • Low minimum deposit requirement • Unavailable website
    • MetaTrader 4 & 5 supported • Deposit and withdrawal methods are limited

    Castle Rock FX Alternative Brokers

      There are many alternative brokers to Castle Rock FX depending on the specific needs and preferences of the trader. Some popular options include:

      • FxPrimus - A regulated forex and CFD broker with a range of account types and trading platforms, suitable for traders of all experience levels.

      • Vantage FX - A regulated broker with low spreads, fast execution, and a range of trading platforms, ideal for traders seeking competitive pricing and reliable execution.

      • Markets.com - A regulated broker with a broad range of accessible markets and trading tools, suitable for traders seeking a user-friendly platform and educational resources.

    Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

    Is Castle Rock FX Safe or Scam?

    Castle Rock FX appears to be unsafe and potentially a scam. The fact that it is unregulated and only holds a suspicious clone Financial Conduct Authority (FCA, No. 612233) license raises concerns about the safety and security of a trader's funds. Additionally, the unavailable website and numerous reports of unable to withdraw and severe slippage indicate potential fraudulent activity.

    Traders should prioritize safety and security when working with any broker and should conduct their own research and due diligence before depositing any funds. It is highly recommended to avoid unregulated brokers and to consider working with regulated brokers for increased safety and security.

    FCA license

    Market Instruments

    Castle Rock FX offers an extensive range of trading assets that include currency pairs, cryptocurrencies, precious metals (Gold, Silver, Platinum), energy (Brent, WTI, NATGAS), and other financial derivatives on its brokerage platform. Traders can access a variety of markets and instruments to create a diversified portfolio and potentially profit from the fluctuations in different asset classes.

    It is important to note that the contract is priced in the USD currency, and the corresponding USD is used as the margin. This means that traders will need to have sufficient funds in USD to open and maintain positions on Castle Rock FX's trading platform.

    Accounts

    Trading accounts from Castle Rock FX are available for both retail and professional traders. Three tiered accounts including Standard, Pro, and Raw Spreads. The Standard account is designed for all types of clients, especially retail traders, with its initial deposit requirement from $5. Pro and Raw accounts are ideal for professional traders, with minimum deposit requirement for the first time from $2,000 and $5,000, respectively.

    Account Types

    Leverage

    The trading accounts offered by Castle Rock FX determine the maximum trading leverage that a trader can use. The Standard account offers a maximum leverage of up to 1:1000, which is a generous offering that can be suitable for scalpers and experienced traders. The Pro account and the Raw Spreads account both offer a maximum leverage of up to 1:500, which is still higher than the industry standard.

    It is important to note that the leverage level offered by Castle Rock FX is also dependent on the instrument being traded. Traders should exercise caution when utilizing leverage as it amplifies both profits and losses and can increase the risk of financial losses. It is recommended for traders to carefully consider their risk tolerance and use appropriate risk management strategies when trading with leverage.

    Spreads & Commissions

    As for the spreads and commission of Castle Rock FX, they are determined by the type of trading account selected. The Standard account offers spreads starting from 1 pip, with a commission of $5 on forex trading. The Pro account offers tighter spreads starting from 0.5 pips, with a commission of $4.5 on forex. The Raw account incurs lower commission fees of up to $3.5, with spreads as low as 0.0 pips.

    trading conditions

    It is important to note that the spreads and commission fees offered by Castle Rock FX are competitive, but traders should prioritize safety and security when working with any broker.

    Below is a comparison table about spreads and commissions charged by different brokers:

    Broker EUR/USD Spread Commission
    Castle Rock FX From 1 pip $5 (Std)
    FxPrimus From 1.5 pips No commission
    Vantage FX From 1.4 pips No commission
    Markets.com From 2 pips No commission

    Note: The information presented in this table may be subject to change and it is always recommended to check with the broker's official website for the latest information on spreads and commissions.

    Trading Platforms

    Castle Rock FX offers its clients a range of popular trading platforms, including MetaTrader 4 & 5 and FIX API. These platforms can be accessed on any device, giving traders the flexibility to trade anytime, anywhere. The MetaTrader 4 & 5 platforms offer powerful charting tools and multiple technical indicators, allowing traders to analyze financial markets and make informed trading decisions. Additionally, these platforms enable traders to operate trading bots such as EA, potentially streamlining the trading process.

    Overall, Castle Rock FX's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders.

    See the trading platform comparison table below:

    Broker Trading Platform
    Castle Rock FX MetaTrader 4 & 5, FIX API
    FxPrimus MetaTrader 4, WebTrader, Mobile App
    Vantage FX MetaTrader 4, WebTrader, Mobile App
    Markets.com Marketsx, MT4, Mobile App

    Social Trading

    Castle Rock FX also give its clients access to social trading: PAMM and CR-Copy. The PAMM programme offered by Castle Rock FX is a type of investment vehicle that gives individuals of all experience levels the chance to invest without requiring them to trade in the markets. CR-Copy is a strong instrument that enables traders to band together and cooperate as partners in an effort to gain market dominance.

    Deposits & Withdrawals

    Concerning deposit and withdrawal, Castle Rock FX gives its clients a few payment options to make a deposit and withdrawal. For deposit, traders can fund their account through Wire Transfer, PatRetailers, BitCoin, and Tether. It is recommended to consider using payment methods that are known for their security and safety, such as regulated payment providers or electronic payment systems.

    Castle Rock FX minimum deposit vs other brokers

    Castle Rock FX Most other
    Minimum Deposit $5 $100

    It varies depending on different payment options concerning minimum deposit & withdrawal amount, processing time, service fees. Details are listed on the following screenshot:

    deposit options
    withdrawal options

    User Exposure on WikiFX

    On our website, you can see that reports of unable to withdraw and severe slippage. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

    User Exposure on WikiFX

    Customer Service

    A broker's ability to provide excellent customer service cannot be understated. As for the contact information, clients have quick access to multilingual customer care via live chat. In addition to a web form, there is a phone number and an email address. It is accessible and available, although operating hours are not stated. Company Address: Suite 305, Griffith Corporate Centre, Kingstown, St. Vincent and the Grenadines.

    Customer Service

    It is important for traders to have access to reliable customer service when working with any broker. The ability to quickly and efficiently resolve any issues that may arise can be crucial to the success of a trader's portfolio.

    Conclusion

    In conclusion, Castle Rock FX is an unregulated forex broker that offers a range of trading assets and markets, with access to popular trading platforms such as MetaTrader 4 & 5 and FIX API. However, the company's safety and legitimacy are questionable due to reports of being unable to withdraw, severe slippage, and holding a suspicious clone FCA license. Traders are advised to prioritize safety and security when considering working with Castle Rock FX and to conduct their own research and due diligence before depositing any funds. It is recommended to consider working with regulated brokers to ensure the safety and security of a trader's funds.

    Frequently Asked Questions (FAQs)

    Q 1: Is Castle Rock FX regulated?
    A 1: No. The Financial Conduct Authority (FCA, No. 612233) license is a suspicious clone.
    Q 2: Does Castle Rock FX offer the industry leading MT4 & MT5?
    A 2: Yes. It supports MT4 and MT5.
    Q 3: What is the minimum deposit for Castle Rock FX?
    A 3: The minimum initial deposit to open an account is $5.
    Q 4: Is Castle Rock FX a good broker for beginners?
    A 4: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website and negative user reviews.

    User Reviews

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    8

    Comments

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    True Trader Max
    more than one year
    My girlfriend opened an account with $10,700 USD with this broker and overnight the money disappeared. Avoid this FRAUD company at all costs.
    2023-02-02 07:04
    Reply
    0
    0
    Mexx
    more than one year
    I want to withdraw my investment days ago and I can't my adviser doesn't answer me he doesn't tell me what is happening
    2023-01-28 00:39
    Reply
    0
    0
    k-pp
    more than one year
    They are blocking the withdrawals, I have been wanting to withdraw for a month, I contacted the Head of Sales and I ended up being blocked. They don't give me a solution, I have USD1000 to withdraw. I deposited by cryptocurrencies and they told me to withdraw by bank transfer, I requested the withdrawal by that method and they never accepted it! I am IB and I have clients of 500 usd that it does not let them withdraw either. DO NOT deposit. Is a gotcha! They are stealing from me and all the clients
    2023-01-27 23:17
    1
    0
    0
    Karma8444
    more than one year
    SCAMMERS
    2023-01-23 21:28
    Reply
    0
    0
    Karma8444
    more than one year
    SCAMMERS! I worked with them remotely, they fired me on 12/28/2022 and they still have not paid the salary that corresponds to me, much less they will pay the investors with what they invest. More than USD 240,000 was stolen from one of their clients from one day to the next, their account was closed and the capital they had there disappeared. GREAT CARE! THERE ARE WITHDRAWAL PROBLEMS! DO NOT INVEST HERE THEY ARE FRAUD AND PURE SCAM. Both CEO Michael Scott Satterfield and HEAD OF SALES Marcelo Morales
    2023-01-23 21:03
    Reply
    0
    2
    FX1094944219
    more than one year
    So far I think that the service provided by this company is satisfactory for me. It is effectively regulated by the FCA. The minimum deposit is only $5, which allows more people to try it out. The customer service they offer is fantastic. I get a quick response and my issues are resolved quickly.
    2022-12-02 09:45
    Reply
    0
    0
    融汇工作室
    more than one year
    My friend recommend them to me. He told me I could invest with only $5! Just now, I successfully opened a Standard account with only 5 dollars. Can’t wait to see what will happen. I told myself I don’t care how much I can make, but please don’t lose too much!
    2022-11-22 18:16
    Reply
    1
    0
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