Compare eXcentral with the top 3 similar brokers that accept traders from your location. The minimum withdrawal amounts are 100 EUR/USD/GBP for bank wire and 10 EUR/USD/GBP for cards. There is no minimum withdrawal for e-wallets, though it must cover the transfer cost.
What is Forex?
EXcentral is a promising start-up CFDs broker, offering some of the most competitive spreads in the industry, the exceptional MT4 trading platform. EXcentral offers trading Commodities, Shares, Indices and Cryptos on accounts starting from $250. EXcentral offers plenty of educational material – basic services with a timeless value. EXcentral provides some decent assets with a choice of web or desktop trading platforms. Our main complaints are the unnecessary account types and the lack of a demo terminal.
Regulation & Deposit Protection
- In fact, the Classic and Silver accounts are virtually the same, with just the addition of educational videos with the Silver.
- It is important to note that between 74-89% of retail investors lose money when trading CFDs.
- Mount Nico Corp Limited offers services within the European Economic Area and Switzerland.
- EXcentral uses 128-bit Secure Socket Layer (SSL) as well as Transport Layer Security (TLS) encryption across their trading platforms.
There are both centralized and decentralized versions of these, but they do share in common the need to work with cryptocurrency wallets, private keys, and wallet addresses. A cryptocurrency is a digital asset that is attached to a blockchain network and provides some type of utility. In others the cryptocurrency is meant to hold transactional value in the same way that U.S. dollars, or Euros, or Pound Sterling do.
Is eXcentral a Regulated Broker?
Yes, eXcentral International is authorised and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa. The firm is operating under the name, Om Bridge Pty Ltd and has a registered office in Gauteng, South Africa. For more information on eXcentral International, check out excentral-int.com. What we know about the CySEC is that this is one of the most uncompromising financial services regulators. The CySEC demands the highest standards from its licensees, and this is an organisation that doesn’t issue licenses left, right and centre — unlike some other jurisdictions around the world.
But while the broker provides attractive features, is it safe to trade with or could it be a scam? Find the answers here, where we review the login process, regulation, customer support, withdrawal methods, and more. When you look at the level of customer support and outreach offered at eXcentral International, it’s clear that this broker is acceptable for even very new traders.
Premium account holders benefit from VIP webinars about advanced trading strategies hosted by various industry experts. EXcentral offers traders the out-of-the-box MT4 trading platform, available as a desktop client, webtrader, or mobile version. The EU subsidiary, which has a white label solution many Cyprus-based brokers use, also has a web-based trading platform.
Backing up the educational offerings are the trading analysis tools that the firm offers free of charge. These range from basic market news updates to economic calendars, helping you to time your trades to perfection. There are advanced charting analysis features and trading calculators to help you know when to get in or out of a market. EXcentral offers investors and day traders like yourself, an easy to use web-based CFD trading platform called TraderSoft. I cannot recommend the trading environment at eXcentral due to high trading costs and the large number of allegations by traders alleging malpractice, fraud, and withdrawal delays.
Equity traders get access to large-cap names trending on social media, suitable for most retail traders but unfit for demanding traders. Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database. You can close your account by contacting the customer support team via telephone or email.
In practice, there are just a handful of currency pairs that are extremely popular and for retail traders, forex brokers rarely offer more than several dozen pairs. They fear losing money and are willing to give up some potential gains if it means that their capital remains safer. They may think of holding onto their cryptocurrencies for years, perhaps accumulating more any time the market dips.
Indeed, this is the forex etoro review platform of choice for many traders in Germany, Spain, Italy, Poland, Netherland, Portugal, Italy, the Czech Republic and beyond. EXcentral offers swift access to customer support, but the availability and response times remain unacceptable. The eXcentral online application form takes less than 20 seconds to complete, offering new traders access to the back office. Most traders will be able to satisfy it by sending a copy of their ID and one proof of residency document. Traders may also call, request a call-back, send an e-mail, or fill out the webform. EXcentral does not list support hours, but traders should expect regular business hours.
Traders will conduct all financial transactions from the secure back office of eXcentral. The deposit and withdrawal options remain notably limited, which I find disappointing. EXcentral maintains higher account tiers but fails to provide information on their requirements which is strange.
Company Information:
I rank trading costs among the most defining aspects when evaluating a Forex broker, as they directly impact profitability. If you have experience trading with eXcentral please share your personal review of the broker and what you think are strong and weak points. As per licensing requirements regarding trader safety, eXcentral segregates client money with reliable financial institutions and is also a member of the Investor Compensation Fund. In order to protect individuals from incentivised trading schemes, regulatory bodies such as CySEC impose tight restrictions on bonus deals and promotional offers. However, the platform owner’s, Mount Nico Corp Ltd, has been nominated for various trophies in the past for its Nico FX platform.
Trading financial products carries a high risk to your capital, particularly when engaging in leveraged trade99 review transactions such as CFDs. It is important to note that between 74-89% of retail investors lose money when trading CFDs. These products may not be suitable for everyone, and it is crucial that you fully comprehend the risks involved. Prior to making any decisions, carefully assess your financial situation and determine whether you can afford the potential risk of losing your money.
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