Crystal Trust is a non-regulated broker that we advise against trading with, despite the seemingly attractive deals it offers.
Crystal Trust claims to be operated by CRYSTAL TRUSTEE COMPANY LIMITED registered with the New Zealand Companies Office under licence number 5860086. Although we did find records matching this company in the registry of the agency, it is important to note that it is only a registrar of companies that has no legal authority to issue forex licenses or regulate entities engaging in forex activities. Having such registration doesn't mean being legal to provide financial services or products. Since it is located in the New Zealand, Crystal Trust must be authorized and regulated by the New Zealand Financial Markets Authority (NZ FMA). However, our search for this broker in the registry of the NZ FMA didn't yield any results. That means it offers financial services or products illegally.
Regarding your question, Crystal Trust is not safe for investing since it is an unlicensed broker. Entrusting this broker to hold and control your funds or trading with it is highly risky, as there are no safeguards in place to prevent fraud or theft. Therefore, we strongly suggest investors stay away from unlicensed brokers like Crystal Trust and opt for fully regulated ones instead.
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