Stay Away! Unregulated FX Broker Crezmoon Pretends to be Registered

And the equivocating of its legitimacy is the most suspicious. It is recommended not to trade with a broker if it cannot provide evidence that its forex services are regulated and customers' funds are protected.

Newly Created Domain

Crezmoon has a domain name that was created on 13 Oct 2021, less than one year ago. But the copyright notice is dated 2020. It is a red flag.

It is common to see a fraudulent forex broker create a website then disappear in one to two years and recreats another domain name. Crezmoon, therefore, could be part of this dangerous category of fraudulent financial companies.

Equivocating of Registration

Crezmoon claims to be registered in the UK with operating business number 25973BC2020. The business number is in the form of registration numbers issued by Saint Vincent and the Grenadines Financial Services Authority (SVG FSA). However, it is the UK where Crezmoon's office is located, instead of Saint Vincent and the Grenadines, according to its customer service and contact page.

To make sure we didn't miss any information, we searched both of the registration agencies in SVG and the UK - SVG FSA and Companies House of United Kingdom (CH).

At first, we searched the number 25973BC2020 in the SVG FSA register and found that the number belongs to a company named NIXSE Ltd. What's more, there is no company named Crezmoon in the register - that is to say Crezmoon is not registered in SVG.

Then we searched CH and did not find any company named Crezmoon. So the scam is not registered in the UK.

Moreover, having registration does not equal to being authorized to conduct forex services, since neither SVG FSA nor CH regulate forex activities.

Non-Regulated Broker

If Crezmoon is an illegal forex broker in the UK as it claims, it must be regulated by UK FCA, according to local laws. However, we did not find its regulatory information in the UK FCA register. Not regulated by UK FCA, Crezmoon shall not provide financial services or sell financial products in the UK.

Checking the license of the broker you are going to trade with is always the first thing you need to do when investing.