exCentral Trading Review: Is It Legit?

Details

Broker
Website URL
Free Demo Account No
US Traders Allowed No
Overall Score

Pros

  • Well regulated
  • No deposit charge
  • Educational resources and webinars

Cons

  • No demo account
  • Deposit and withdrawal available only selected currencies
  • Withdrawal fees

Trading is now popular among all classes of people, especially when it comes to forex, cryptocurrency, CFDs, and stocks. Trading with these instruments can be very profitable and also devastating as it is compared to a double-edged sword. But people are willing to take that risk, and thus online crypto trading is at its peak. This has created a huge demand for cryptocurrency trading platforms. But cryptocurrency is not offered by any governmental bodies. So, the only source to get them is a broker.

Over the years, many brokers have been established around the world. Now, there are so many of them that it has become very difficult to choose one. If you have done some research, you might have heard the name of exCentral. But is it a good broker? Let’s answer that question with this exCentral broker review.

What is exCentral?

exCentral is a very friendly online broker headquartered in Cyprus. It is owned by a South African investment firm, OM Bridge (PTY) LTD. exCentral international provides its services to over 60 countries. The broker made its debut in 2011 and, in 2015, it partnered with Bitcoin Up trading robot. Since then, it has been providing fast trading services to its clients.

exCentral-int has more than 300 trading offerings and some user-friendly platforms. You can get access to their auto trading service by signing up for Bitcoin Up. The advantage of this is that you don’t have to be an experienced trader.

exCentral promises to make the trading experience friendly and fun for everyone. They provide many useful facilities to their clients and support them with reliable customer support.

excentral Review

Trading Accounts

exCentral trading accounts come with different perks and uses to match traders with different lifestyles. There are four types of trading accounts in exCentral: Classic, Silver, Gold, and VIP.

Classic

The classic trade accounts come packed with all the basics needed for trading. It also includes free trading education for helping newcomers in the trade business. The amount of leverage you can get with a classic account is up to 1:30. Pips are a little high in the classic accounts, the value being 2.5. You can trade a maximum of 50 units per trade with negative balance protection.

Silver

The silver account is almost identical to the classic account. The only difference is the pip value and account cost. The silver account costs slightly higher and the pip values are slightly lower.

Gold

The gold account is significantly different and better than the classic and silver accounts. It has its dedicated account manager. You can get access to educational webinars, which are off-limits to the classic and silver account holders. Moreover, you will receive an auto-generated monthly overview of your trade account.

VIP

The VIP accounts come with even more helpful features including a dedicated senior account manager aside from all the features of the Classic accounts. The best part about it is the relatively low pips in spreads. You can trade with all instruments and make discount swaps in a given time.  With the VIP account, you will receive a monthly overview of your account and educational webinars. The VIP webinars make it a good choice for beginners, but the charge is a little higher than the classic accounts. Then again, you are getting two managers for your account.

Unfortunately, there are no exCentral demo accounts available, which is very disappointing. It means you cannot safely practice what you have learned from their webinars.

 Security

exCentral broker is owned by OM Bridge (PTY) LTD. It is well regulated by the Financial Sector Conduct Authority of South Africa. exCentral’s license number is 48296. eXcentral EU (European Union) is owned by Mount Nico Corp Ltd and it is regulated by Cyprus Securities and Exchange Commission. exCentral’s CIF license number is 226/14. Overall, this broker is safe for use. You will not get scammed. Besides, you will have negative balance protection.

Customer Support

exCentral support is very effective in helping their clients find a way out of any trouble. The team of exCentral support consists of well-trained and knowledgeable representatives who will explain everything you need to understand. The way of reaching their customer support desk is by phone call or email. You can also send a call-back request.

Platforms

exCentral has two trading platforms to offer. One is the famous MetaTrader 4. The other is their custom-built exCentral trader. Both of these platforms are accessible from smart devices and computers.

MetaTrader 4

The MetaTrader 4 platform is universal. Traders can plug in their auto trading software to run auto trade and insert many indicators. It has a very simplified view, and it is the best choice for newcomers. Traders can test out their skills and strategies on it.

exCentral Trader

exCentral Trader was designed to improve the trading experience. Developers put all their focus on convenience. There isn’t much difference in what’s going under the covers here. It’s just the look. With exCentral Trader, you get a multi-window view, with over 100 indicators. This platform can be loaded into any web browser without any additional file download.

exCentral Offerings

exCentral has a wide variety of assets to offer. There are over 160 assets you can choose from for trading. They include cryptocurrency, forex, stock CFD, and more. exCentral forex offers 46 exotic currency pairs. In exCentral CFD trading, you can get your hands on 19 high-value commodities. exCentral also offers Bitcoin, as they are partnered with Bitcoin Up trading. In addition, they offer four attractive cryptocurrencies.

Fundings and Withdrawals

Clients have extended flexibility in depositing and withdrawing money on their exCentral trading accounts.

Deposit

There is no charge on deposit, no matter which method you use. You can fund your account using debit/credit cards, bank lines, and digital wallets like Neteller and Skrill.

Withdrawal

Withdrawal is performed by the same methods of deposit. However, there are fees for withdrawals. For bank line withdrawals, it is 30 units of chosen currencies. For cards, it is 3.5%. And with digital wallets, it is only 2%.

Final Verdict

So, this was our exCentral broker review. For a standard broker, it stands out among other brokers. Especially since their trading platform, exCentral Trader, is focused on the convenience of the trader. Moreover, they have educational webinars every month. Overall, exCentral is an ideal place for newcomers.

FAQs

Is exCentral legit?

Yes, exCentral is legit. It is regulated by the (FSCAS) or the Financial Sector Conduct Authority of South Africa. exCentral’s license number is 48296

Does exCentral charge fees for deposits and withdrawals?

exCentral charges no fee for deposit. However, there are charges for withdrawals and the amount depends on the medium you use for withdrawing.

What kind of security are clients receiving from exCentral?

Clients will receive negative balance protection. Their data is kept safe in private servers.

Visit Broker

Leave a Comment

Copyright © 2021. All Rights Reserved. Forex Trading Philippines