Crown Forex: A Detailed Guide to Their Services and Benefits

Crown Forex is a Forex trading platform, they offer many features and solutions that experienced and advanced traders will prefer. The firm is based in Switzerland, and does include provisions to limit risks, and a demo account for training purposes. They recommend potential customer should develop experience with a demo account before commencing live trading.

Crown Forex recognizes trading on 13 currency pairs and some precious metals are also allowed. The pairs are defined as seven majors and six crosses – the majors being AUD/USD, EUR/USD, GBP/USD, USD/CAD, USD/CHF, USD/JPY and NZD/USD.

Notably, other broker offers additional pairs, with one component being CHF, as majors. However, all major pairs have one pip spreads on the CFSA platform. All of the cross pairs (EUR/CHF, EUR/AUD, EUR/GBP, EUR/JPY, GBP/JPY, GBP/CHF) have much higher spreads ranging from 5 to 10 pips. This makes them a less desirable trading platform for trades in those cross pairs.

The overall CFSA site is complex, it is intended for the more advanced trader. Clients shouldn’t expect much basic education. In addition, the language used is complex and indicates that the CFSA site may have been written by someone from Switzerland where the firm has it base.

The home page focuses on economic news, with headlines on the upper right for currency news and economic news. A user can click on any headline to see the specific news story. To open an account, download the customer trading agreement and fill it out; then send it to CFSA in Switzerland with a notarized copy of a valid ID (typically a passport or government-issued ID). Once the CFSA staff approves the agreement, you can forward funds to your account and get started.

How to open and navigate a Crown Forex account

The minimum amount to open an account is $300 USD. While waiting for approval of the live account, you are advised to begin working with the demo account. To learn trading with Crown Forex S.A you should visit our page and sign up for our master class.

To open a demo account, download the trading station terminal software from the Crown forex web site. Afterwards, the site says you will be asked to provide account information such as name and address via a setup page.

In addition, the site has a location to download a user guide; the user guide, however, is not available from that location (a note says the guide is being updated). Instead, the user guide appears as the help file to the trading station software. There is also a link through the help file to the on-line MQL4 terminal community, which includes many users of and developers of MQL4.

CFSA executes all trades online with a minimum transaction lot size of 1 lot, or 10,000 units of the base currency. Trades are executed   directly through the trading terminal software installed on your site.

The trading terminal is quite powerful and offers a wide variety of information and tools. These include many charts and indicators, including some that will be confusing for many FOREX traders. Through the online platform, you can execute trades directly from real-time streaming bid/ask quotes. Live prices are continuously updated.

How to Execute Deals on Crown Forex

To execute a deal, click the New Order button on the trading station and follow simple instructions. Executing a deal via the Internet is a simple two-step process, enter the number of lots and then click on the bid (buy) or offer (sell) for the currency pair you wish to trade your deal is automatically executed. The dealing software automatically calculates the initial margin requirement based upon the notional amount of the deal, and if sufficient funds are available in your account, the transaction will be accepted.

Deals are confirmed online, normally within one second, and the system instantaneously updates both your open position and calculates your current floating profit and loss. You can perform any of the following types of orders:

Market orders, an order based on a current market price. Pending order, a commitment to buy or sell at a pre-determined price in the future. There are different kinds of pending orders:

• buy limits; in which the current price is higher than the price offered.
• buy stops; in which the current price is lower (but the trader expects that the price will not only rise to the price offered, but will keep rising); sell limits, where the current price is lower than the price offered; and sell stops, where the current price is higher, but the trader expects that the price will drop to the price offered and keep dropping.

Stop Loss Order An order to automatically close a trade if the security price moves in the wrong direction. Stop loss orders close if the price reaches a certain level set by the trader.

• Take Profit Order An order to automatically close a trade if the security price moves in the right (profitable) direction. This is the opposite of a Stop Loss order in that both are automatic closings, but the Take Profit occurs when the trader has earned sufficient profit. The Swiss based trading platform is available in many languages, and the web site is in Arabic and English.

Benefits of The Crown Forex S.A

Crown Forex is a Swiss-based Forex trading platform, primarily catering to experienced and advanced traders. Here are the key points:

• Platform Features: Offers trading on 13 currency pairs (7 majors and 6 crosses) and some precious metals. Major pairs have one pip spreads, while cross pairs have higher spreads (5-10 pips).
• Risk Management: Includes provisions to limit risks and offers a demo account for training.
• Account Opening: Minimum deposit is $300 USD. Requires downloading a customer trading agreement, filling it out, and sending it with a notarized ID to Switzerland.
• Trading Terminal: Powerful software with various charts and indicators, also executes trades online with a minimum lot size of 10,000 units.
• Execution: The platform confirms deals with real-time streaming bid/ask quotes,

The platform is complex and intended for advanced traders, with limited basic education provided. The home page focuses on economic news and uses quite sophisticated languages.