eXcentral Forex Trade Platform and Broker Review

eXcentral Forex Trade Platform and Broker Review

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eXcentral is a globally recognized financial asset management firm and forex broker established in 2017 in Cyprus. The main objective of eXcentral’s services is to provide access to a range of tradable financial instruments.

eXcentral has between 10 and 50 employees and is headquartered in Limassol, Cyprus.

Is eXcentral Regulated?

Yes, eXcentral is operated by OM BRIDGE (Pty) Limited, which is an investment firm that is licensed and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa.

The European arm of eXcentral is operated by Mount Nico Corp Limited, which is a Cyprus-based investment firm with authorization and regulation through the Cyprus Securities and Exchange Commission (CySEC).

eXcentral is compliant with a series of stringent laws of regulators, which dictate that client funds are kept in segregated accounts. These funds are not used by eXcentral for any other purposes other than trading activities, and the accounts are audited frequently.

 

Is eXcentral Regulated in the United States?

No, eXcentral is not regulated in Virginia or any other US state. 

Is eXcentral Regulated in Europe?

Yes, the European arm of eXcentral, namely Mount Nico Corp Limited, is regulated and authorized by the Cyprus Securities and Exchange Commission (CySEC). This enables eXcentral to provide trading products and services to European forex traders.

Is eXcentral regulated in a Tier-1 Jurisdiction?

No, eXcentral is not regulated in a Tier-1 Jurisdiction.

Tier-1 Jurisdiction provides forex brokers with the necessary license to provide financial services in Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Israel, Japan, Luxembourg, Netherlands, New Zealand, Norway, Puerto Rico, Singapore, Sweden, and Switzerland.

Is eXcentral regulated in Tier-2 Jurisdiction?

Yes, eXcentral is regulated in Tier-2 Jurisdiction.

Tier-2 Jurisdiction provides eXcentral with the license to offer financial services and operate in the British Virgin Islands, Cayman Islands, Cyprus, Italy, Malaysia, Mexico, Poland, Portugal, Spain, and Taiwan.

What are the Platforms and Tools for Forex Trading in eXcentral?

eXcentral provides forex traders with a choice between three versatile trading platforms, namely MetaTrader 4, the eXcentral Trader, and the eXcentral trading application for Android devices.

  1. MetaTrader 4 is the most popular trading platform, which is available across several devices. With MetaTrader 4 and eXcentral, traders can expect compatibility with EAs, high customizability, access to 30 technical indicators, 3 execution modes and 4 order types, and more.
  2. The eXcentral Trader is specifically designed to improve the trading experience of both beginners and professional traders. eXcentral Trader offers a multi-view option, access to a large range of financial instruments, and advanced features and functions.
  3. With the eXcentral Trading App, traders can trade from anywhere in the world on their Android devices. The mobile trader provides traders with access to several asset classes and the perks of the WebTrader, in the palm of their hand.

Does eXcentral Have a News Blog for Forex News?

Yes. eXcentral offers a free news blog for forex news on the official website.

Does eXcentral Have a Traders Dashboard?

Yes, eXcentral has a Traders Dashboard in the form of a Trading room, which can be accessed once traders have registered with eXcentral on the official website.

eXcentral Traders Dashboard

Does eXcentral Have an Educational Section?

Yes, eXcentral has an educational section that is offered to registered forex traders.

 

What is the content of eXcentral Forex Education?

eXcentral offers traders with interactive courses on different trading strategies, which are all based on technical analysis methods. There are 10 video lessons that traders have access to depending on the trading account they use.

eXcentral also offers 4eBooks which focus on forex and CFD trading, trading psychology, and cryptocurrency CFDs.

eXcentral Media Centre offers 45 video lessons on a variety of topics, including MetaTrader, CFDs, stocks, and more.

There are various webinars offered by eXcentral to certain account levels. These are facilitated by Michalis, the in-house market analyst for eXcentral.

Is eXcentral Legit?

Yes, eXcentral is a legit Forex Broker and Trade Platform that is regulated and authorized through FSCA and CySEC.

Is eXcentral Safe?

Yes, eXcentral is a reliable and safe Forex Trade platform where regulation and stringent safety protocols are concerned. eXcentral is regulated by:

  • Financial Sector Conduct Authority (FSCA) in South Africa.
  • Cyprus Securities and Exchange Commission (CySEC).

In compliance with strict rules of these regulators, eXcentral protects client funds by keeping them in segregated accounts with top-tier banks.

Is eXcentral a Good Broker?

Yes. According to the Forex Suggest review, eXcentral is a good broker for security, trading speed, online support, and cryptocurrencies. 

Where security is concerned, eXcentral ensures client fund security by segregating client funds.

In terms of trading speed, the exact trading speed is not indicated, but eXcentral guarantees that trading speed is reliable and fast.

Where online support is concerned, eXcentral offers traders with a live chat option that can be accessed 24 hours a day, 5 days a week.

In terms of cryptocurrencies, eXcentral offers BCH, BTC, ETH, LTC, XRP, YCC, and DOGE.

What is the Offering of Investment in eXcentral?

Offerings of eXcentral can be found below.

Feature eXcentral
Forex Trading Yes
CFDs Yes
Forex Pairs Yes
Cryptocurrency (Physical) No
Cryptocurrency (CFD) Yes
Social Trading  Yes

Does eXcentral have Nasdaq?

Yes, eXcentral offers Nasdaq under USTEC.

Nasdaq, known as the US Tech 100 or the Nasdaq composite, is the second-largest stock exchange by market capitalization. Nasdaq tracks the top technology stocks in the US.

What are the Awards of eXcentral?

There are no awards indicated on the official eXcentral website.

How to Use eXcentral for Forex trading?

To use eXcentral, a forex trader should have the necessities below:

  1. Traders must have a copy of their identity document along with proof of their residential address for eXcentral’s “Know Your Client” or KYC process.
  2. Traders must be 18 years old or older to register an account.
  3. Traders must be able to pay the $250 minimum deposit.

Once a forex trader meets the conditions above, they can register a forex trading account to use the services of eXcentral.

How to open a Forex trader account with eXcentral?

To open a Forex Trading account with eXcentral, a trader should follow the steps below.

  1. Traders can visit the official eXcentral website and select “Sign Up” from the homepage.
  2. An online application will load, and traders must provide their first and last name, country of residence, mobile number, email address, base currency, and user-selected password.
  3. Before the forex trader can sign up, they must accept that they are older than 18 and that they have read, understood, and accept the Client Agreement, Privacy Policy, and Cookie Disclosure.
  4. Traders will be redirected to the eXcentral WebTrader and Dashboard, where they can provide additional personal information and verify their identity and residential address.
  5. Once complete, traders can deposit their minimum deposit to start trading.

What is the Forex Trader Account Types with eXcentral?

Forex Trading Platform and Financial Asset Management Institution eXcentral have 5 different account types that are offered.

eXcentral Account Types are listed below. 

  1. Demo Account
  2. Classic Account
  3. Silver Account
  4. Gold Account
  5. VIP Account

1. Demo Account

eXcentral offers forex traders with a demo account that can be used either as a practice account by beginners. It can also be used by forex traders who wish to develop and test their trading strategies using virtual capital in a risk-free trading account.

2. Classic Account

The eXcentral Classic Account is the entry-level account that is typically used by beginner traders. The features of the Classic Account are as follows:

  • Leverage up to 1:400
  • Spreads from 2.5 pips EUR/USD
  • Access to all tradable financial instruments
  • Margin call of 100% and stop-out of 20%
  • Minimum trade volume from 0.01 lots
  • Maximum volume of 50 lots per trade
  • Negative balance protection is automatically applied to the trading account
  • Free support and trading education

3. Silver Account

The eXcentral Silver Account is designed for more experienced traders and offers additional benefits. The Silver Account has the following features:

  • Leverage up to 1:400
  • Spreads from 2.5 pips EUR/USD
  • Access to all tradable financial instruments
  • Margin call of 100% and stop-out of 20%
  • Minimum trade volume from 0.01 lots
  • Maximum volume of 50 lots per trade
  • Negative balance protection is automatically applied to the trading account
  • Free support and trading education
  • Educational webinars

4. Gold Account

The Gold Account is a popular choice, and it offers traders competitive trading conditions. The features on this account type include:

  • Leverage up to 1:400
  • Spreads from 1.8 pips EUR/USD
  • Access to a swaps discount period
  • Access to all tradable financial instruments
  • Margin call of 100% and stop-out of 20%
  • Minimum trade volume from 0.01 lots
  • Maximum volume of 50 lots per trade
  • Negative balance protection is automatically applied to the trading account
  • Free support and trading education
  • Full Account overview offered monthly
  • Educational webinars offered
  • VIP webinars
  • Access to a dedicated account manager

5. VIP Account

The VIP Account from eXcentral is designed for professional traders who need the best trading conditions. The VIP Account features the following

  • Leverage up to 1:400
  • Spreads from 1.8 pips EUR/USD
  • Access to a swaps discount period
  • Access to all tradable financial instruments
  • Margin call of 100% and stop-out of 20%
  • Minimum trade volume from 0.01 lots
  • Maximum volume of 50 lots per trade
  • Negative balance protection is automatically applied to the trading account
  • Free support and trading education
  • Full Account overview offered weekly
  • Educational webinars offered
  • VIP webinars
  • Access to a dedicated account manager
  • Dedicated senior account manager

How to Withdraw Money from eXcentral?

To withdraw money from eXcentral, the following should be done:

  • Traders can log into the eXcentral client portal and hover over their profile name.
  • Traders can select “withdraw” from the dropdown options.
  • Traders can select the amount that they wish to withdraw and click on the green “withdraw” banner to proceed.
  • Once the forex trader has completed the request and eXcentral receives it, the withdrawal process can begin.

How many days do deposits take with eXcentral?

This will depend on the deposit method that is being used. There are methods with instant processing, while others may take a few business days to reflect in the trading account.

What are the costs and fees with eXcentral?

There are four types of costs with eXcentral, namely spreads, commissions, swap fees, and margin requirements. 

The spread can be defined as the difference between the bid and ask price, expressed in pips. eXcentral offers variable spreads which can fluctuate according to the financial instrument being traded, the trading account, and market conditions on the day of trading.

Commissions are typically charged as a flat fee for the services rendered by the broker. Commissions will depend on the financial instrument being traded and the volume of the trade.

Swap fees, or overnight fees, are charged when traders hold positions open after the trading day has concluded. Whether these fees are debited or credited will depend on whether the trader holds a long or short position.

Margin requirements are collateral charged when traders open a position; this must be paid before the trade is executed, and the requirement is lowered by applying leverage.

What are the Trading Fees with eXcentral?

The Forex Trading Fees with eXcentral are below. 

The Classic Account:

  1. Spreads: from 2.5 pips EUR/USD
  2. Commissions: from 0.8%
  3. Swap fees: -39.72 in the long position and -38.39 in the short position with EUR/USD
  4. Margin call of 100%

The Silver Account:

  1. Spreads: from 2.5 pips EUR/USD
  2. Commissions: from 0.8%
  3. Swap fees: -39.72 in the long position and -38.39 in the short position with EUR/USD
  4. Margin call of 100%

The Gold Account:

  1. Spreads: from 1.8 pips EUR/USD
  2. Commissions: from 0.8%
  3. Swap fees: -39.72 in the long position and -38.39 in the short position with EUR/USD
  4. Margin call of 100%

The VIP Account:

  1. Spreads: from 1.8 pips EUR/USD
  2. Commissions: from 0.8%
  3. Swap fees: -39.72 in the long position and -38.39 in the short position with EUR/USD
  4. Margin call of 100%

What is the minimum deposit in eXcentral?

The recommended minimum initial amount is 250 USD. 

What are the contract specifications in eXcentral?

Feature eXcentral
Forex Trading Yes
CFDs 56+
Forex Pairs 49
Cryptocurrency (Physical) 0
Cryptocurrency (CFD) 7
Social Trading  Yes

Does eXcentral have promotional offers?

No, eXcentral does not have any promotional offers indicated on the official website.

Does eXcentral have a welcome bonus?

No, eXcentral does not have a welcome bonus.

A welcome bonus is offered to traders who register a real account for the first time and provides them with trading credit. 

Does eXcentral have a deposit bonus?

No, eXcentral does not have a deposit bonus.

A deposit bonus is granted to forex traders either when they register a new account or with every deposit, according to the discretion of the broker. 

Is there a commission-free trade bonus in eXcentral?

No, eXcentral does not offer forex traders with a commission-free trade bonus.  

Is there a VIP bonus in eXcentral?

No, eXcentral does not offer forex traders with a VIP bonus.

Can you start trading with no money at eXcentral?

No, you cannot start trading with no money at eXcentral. To start trading, traders must pay a minimum deposit of $250.

How does leverage work with eXcentral?

eXcentral offers traders with leverage up to a maximum of 1:400.

Leverage is a useful tool that allows traders to open larger positions by lowering the margin requirement or call that is needed at the start of each trade as collateral. Leverage can maximize the trader’s profit potential, but it can also expose traders to significant losses.

Where are the headquarters of eXcentral?

eXcentral is headquartered in Limassol, Cyprus.

Who is eXcentral’s CEO?

The CEO of eXcentral is Panikos Kaiserlidis, who has held the position for an undisclosed number of years.

What are the social media accounts of eXcentral?

Traders can follow eXcentral on the following social media accounts:

  • Facebook
  • Twitter
  • Instagram
  • LinkedIn
  • Pinterest

How many employees do work for eXcentral?

There is no official source that discloses the number of employees for eXcentral. However, according to the operation size of the forex broker, eXcentral has between 10 and 50 employees.

What are the opinions about eXcentral?

eXcentral has built a good reputation in the years that it has been in operation. With strict regulation, eXcentral can ensure that client security is a priority by ensuring transparency and trust.

What are eXcentral Contests?

eXcentral does not run any contests.

eXcentral does not currently have any contests, and there are no announcements on the official websites that indicate whether there will be contests held in the future.

Does eXcentral have online support?

Yes, eXcentral offers online support to forex traders via the live chat feature on the official website.

Does eXcentral offer demo accounts for Forex trading?

Yes, eXcentral offers a free demo account for all new traders. The demo account can be opened with the following steps:

  1. Forex traders can visit the official eXcentral website and select the option to sign up.
  2. Once forex traders are registered for the client portal, they can register a demo account.
  3. Once registered, traders are given $100,000 in virtual funds, which can be used on the demo account.

Does eXcentral have a mobile app for Forex trading?

Yes, eXcentral offers the Direct App for Android mobile devices. 

eXcentral offers its free mobile app, which can be downloaded, allowing traders to trade more than 160 CFD assets with eXcentral’s comprehensive and competitive trading conditions.

The mobile app offers fundamental and technical analysis tools, real-time estimated loss as well a profit limits calculator. In addition, forex traders are also given high mobility between assets, transactions, and their trading accounts.

Does eXcentral publish an economic calendar?

Yes, eXcentral publishes an economic calendar on the official website.

An economic calendar is a crucial trading tool that provides traders with the ability to view relevant economic information which is scheduled to be released. Such events could impact on the financial markets and, subsequently, the trader’s trading.

eXcentral offers traders with an economic calendar that provides traders with an accurate, updated release schedule to assist them in anticipating any major movements that may occur in the market.

What is the communication information of eXcentral?

eXcentral has two main telephone numbers and one main business address.

The main telephone numbers for eXcentral are +278 71 951005 and/or +357 22 032220

The main business address for eXcentral is 38 Agios Athanasios, Ground Floor, 4102 Limassol, Cyprus.