eXcentral Broker Review
eXcentral is an international online broker for investing in CFD’s on a range of items like; Forex, Crypto and Stocks. The company was launched in June of 2019, making them a fairly young broker. eXcentral offers investors and day traders like yourself, an easy to use web-based CFD trading platform called TraderSoft. If you are looking for a MetaTrader broker, look here.
Available for trading are hundreds of underlying assets from Crypto, Forex, Stocks, Commodities and Market Indices. The trading platform has three sections for CFD, Forex and Crypto Currency trading. Investors will quickly see that this broker offers a web based desktop trading platform, along with mobile apps.
Standard leverage on Forex pairs like EUR/USD is 30:1 in Europe or 400:1 in South Africa. Their indicative spreads start at 2.5 pips. Bitcoin, Litecoin, Ethereum and Ripple CFD’s are listed on the Dollar and Euro. Minimum deposit requirement for a live trading account starts at $250.
For complaints or withdrawal problems, read this.
Warning! This Broker is Not Locally Licensed
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Trading App Scams
You probably saw an infomercial, about a new trading app, that makes profits of thousands of dollars a day. They are called 1K Daily Profit, Immediate Edge, and Tesler App.
Before using an automated trading app, you need to know a few things.
- Automated trading apps are not 100% accurate.
- Most people lose money when using an algorithm trading app.
- CFD brokers are not authorized to give you investing advice.
You should read more about automated trading robots.
Is eXcentral a Regulated Broker?
Yes, eXcentral operates a European licensed website and a South African licensed website.
- Excentral.com/eu/ is owned by Mount Nico Corp Ltd, which is licensed by CySEC in Cyprus license number 226/14. They are located at: Agiou Athanasiou 66, Toumazis Linopetra Building 4102, Limassol, Cyprus. Email address is: [email protected], and the phone number is: +35725008133.
- Excentral-int.com is owned by OM BRIDGE (PTY) LTD, which is licensed by the FSCA in South Africa, with license number 48296. They are located at: Unit 6C3, 159 Rivonia Rd, Sinosteel Plaza, Morningside Ext 39, Sandton, Gauteng, 2146, South Africa. Email address is: [email protected], and the phone number is: +27871951005.
They got into trouble with CySEC, and were fined €290.000 on May 17th 2022. On the one hand it is bad when a regulator takes action against a broker. But this is still better than dealing with an unlicensed broker which has no oversight.
The correct way for new investors to research their online broker to determine if the broker is a legit company, or a scam broker, is by verifying a valid government license. When you see that your broker has a license, and you have verified it with the government regulator, you know they are a legal broker.
Trading with a licensed broker usually means that you will not have problems withdrawing your money. That being said, we have received complaints from readers who needed to use a recovery firm to get their money back.
Compare Forex Brokers
You can choose from thousands of CFD Trading companies online, however people usually invest with one of the best brokers listed here.
Try a Free Demo Trading Account at: VantageMarkets.com.
What was your experience investing with eXcentral? Please share your feedback in the comment section below.