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eXcentral Broker Review

One of the brokers run by the business Mount Nico Corp Ltd is the online forex and CFD broker eXcentral. They have a representation in Cyprus, where they also keep their CySEC registration current. The business also provides financial services under the names NicoFX and GreatSky in addition to eXcentral. The broker appears to be offering leverage above the required limits while being registered.

Broker status: Regulated
Regulated by: FSCA, CySEC
Scammers Websites: https://eu.excentral.com/
Owned by: Mount Nico Corp Ltd
Headquarters Country: Cyprus
Foundation year: 2014
Supported Platforms: MT4, web trader
Minimum Deposit: $250
Cryptocurrencies: Yes – BTC, ETH, XRP – total 6
Types of Assets: FX, commodities, indices, shares, cryptocurrencies
Maximum Leverage: 1:30
Free Demo Account: No
Accepts US clients: No
Site grid: www.nicofx.com www.excentral.com www.mtnico.com

eXcentral for Trading

There are many different types of assets available through eXcentral. Both the variety of currency pairs and the range of CFDs are above average. Their CFD offerings include a number of cryptocurrency alternatives in addition to stocks, commodities, indices, and stocks.

This broker’s spreads are not very good. They have a EUR/USD spread of roughly 1.8 pips. This pair can demonstrate the overall caliber of a broker’s products. A prudent investor, however, would aim for a result considerably closer to the 1.0 pip.

eXcentral Trading Platform

Customers of the broker get access to the common MetaTrader 4 platform. Experienced traders can benefit from the complex trading tools provided by this platform. Traders can better understand the markets and their positions thanks to the charting and analytical tools. 

For traders who want to test them out before making a deposit, the broker offers demo accounts.

Trading Conditions eXcentral

To create an account with eXcentral, a $250 minimum deposit is required. Very little information regarding the broker’s trading policies is provided. Through their demo accounts, the majority of the material is accessible. 

Leverage up to 1:400 is available from the broker, at least inside the demo account. If genuine positions are accessible, the broker is providing riskily high leverage. 

Leverage is capped by the ESMA law at 1:30, and most CySEC brokers, adhere to that restriction.

A largely identical family of brokers

Two further brokers from the same organization, NicoFX and GreatSky, provide nearly comparable offers, according to our eXcentral assessment. GreatSky offers significant leverage combined with spreads that are comparable to those of eXcentral. The EUR/USD pair’s spread at NicoFX is significantly greater, at 2.6 pips. There is nothing special about the three brokers. It appears that the parent firm is only attempting to throw a wide net.

eXcentral Problems with money withdrawals

We are not surprised to find withdrawal difficulties given the commotion surrounding the eXcental broker and the business owner. There is a low likelihood that you will receive a withdrawal if you don’t know where to request one. The broker is owned by a Cyprus-based corporation and has a global presence in South Africa. There are a total of 4 businesses that are connected to the eXcentral brand in some way.

We got the opportunity to hear from customers who said the business was having trouble with money withdrawals. For instance, you could frequently be required to email another organization and provide fresh papers.

All of this suggests that the broker is pulling off a well-planned scam. Beware!

What’s the process of an internet trading scam?

You shouldn’t be shocked to learn that even regulated brokers operate scams. They most likely have one regulated firm and a foreign or offshore entity that they utilize to defraud customers. For instance, an eXcentral broker would be located in South Africa.

Clients are frequently encouraged to assume they are funding a regulated business. When they make a sizable deposit, the access to their trading account is limited, and the broker stops communicating with them. Beware of eXcentral scams.

Are you having trouble successfully requesting a withdrawal from your broker? Tell us about it and add a comment.[/vc_column_text][/vc_column][/vc_row]