September 29, 2020
eXcentral Forex Broker Review
eXcentral is an online trading brand owned and operated by Mount Nico Corp Ltd, an investment firm based in Limassol, Cyprus. The broker operates for traders based in the European Economic Area and Switzerland and complies with all the regulatory requirements.
The brand has an already-established track-record in providing quality trading services for a broad range of CFDs, including FX, stocks, indices, commodities, and cryptocurrencies. With reliability and professionalism, eXcentral passed the test of time and keeps on providing trusted trading services.
- A trading brand regulated by CySEC and complying with MiFID II requirements.
- A broad range of educational resources available for traders of all levels.
- 24/7 customer service, available via live chat, phone, or email.
- Only around 160 different trading instruments are available.
- The inactivity fee applies after two months without any trading activity.
What can you trade?
eXcentral Forex Review
When it comes to asset coverage, FX CFDs cover an important share, which means eXcentral customers can get involved in a broad range of currency pairs. They can trade with up to 1:30 or 1:400 maximum leverage on most of the well-known or less-known FX pairs, including EURUSD, GBPUSD, USDJPY. USDTRY, NZDAUD, and tens of others.
Spreads will depend on the account type chosen, while overnight swaps act the same for all accounts. The trading costs are mostly in line with the industry’s average.
Traders need to take into account that due to the latest European regulation, they will be either retail or professional, with implication on their trading conditions (maximum leverage, stop out level, etc.).
We suggest to pay attention to eXcentral Forex financial news, where clients can find more insights regarding the latest market developments. Considering the markets have been very active for the past several months, assisting this service enables to keep track of the latest news and financial developments.
eXcentral CFDs Review
Alongside the FX offer, eXcentral covers a broad range of CFDs based on shares, indices, commodities, and cryptocurrencies. You can trade on stocks from the USA, Germany, France, or other western developed nations, or simply choose to trade from a list of stock market indices.
At the same time, commodity traders will find it helpful to see that eXcentral covers many instruments, including agricultural, energies, precious metals, and industrial commodities.
Lastly, you can get involved in the cryptocurrency market with 5 of the most popular tokens (Bitcoin, Bitcoin Cash, Litecoin, Ether, and XRP). The whole asset list seems to be designed so any trader will be able to enjoy a diversified exposure to the market.
What did our traders think after reviewing the key criteria?
Concerning the eXcentral fees, we need to talk first on the withdrawal fees. For a credit/debit card operation, traders will be charged 3.5%, 30 USD/EUR/GBP for a wire transfer, 3.5% for Neteller, and 2% for Skrill. There is no fee charged for deposit.
Also, an inactivity fee will apply in case there is no operation conducted on an account for more than 2 months. The inactivity fee is 80 USD/EUR/GBP. The last fee that needs to be taken into account is the monthly maintenance fee worth 10 USD/EUR/GBP.
Traders wanting to work with eXcentral can choose between a broad range of accounts, including Classic, Silver, Gold, or VIP. They will be either Retail or Professional, depending on their ability to meet with the requirements.
eXcentral provides access to free trading education, educational webinars, full account overview, VIP webinars, dedicated account manager, or senior account manager, depending on the account type chosen by each customer. We should also mention that spreads will be different based on the chosen account.
MetaTrader 4, a proprietary WebTrader, and mobile apps (eXcentral app and MT4 app) are available. Each comes with unique features so traders can have access to the market at any time and from any location.
This package includes reliable trading solutions that have proven to be very efficient over time. Each trader can pick the right fit for its trading style and personal trading schedule.
The user experience is unique, considering eXcentral had designed a comprehensive offer for all types of traders ? beginners, intermediate, or advanced. All the information about the trading services is provided on their official website.
For any inquiry, registered clients or any other individual can contact the eXcentral customer support. The website is also very responsive, well optimized, available in multiple languages, and framed with a futuristic look.
You can contact the support service or an account manager by filling a contact form on the website, using the email address, the phone number, or the very fast and convenient live chat feature. eXcentral proved to hold a customer-oriented approach, making sure customers are served to get what they want, and on time.
It is important to have a broad range of funding methods and eXcentral clearly takes this into account. To make deposits/withdrawals, you can use a credit/debit card, Skrill, Neteller, or wire transfer.
eXcentral accepts deposits in EUR, USD, or GBP. The minimum deposit is 250 for all methods and currencies. There is no deposit fee at the time of writing. For withdrawals, it is important to note that customers will need to pass the verification process first. More information is provided on eXcentral’s website.
Considering eXcentral is a European brokerage house, complying with all the latest regulations, it can’t provide benefits or bonuses for retail customers. At present, there is no information on any promotion offered by eXcentral.
Mount Nico Corp Ltd, the company behind eXcentral is a Cyprus investment firm, authorized and regulated by the Cyprus Securities and Exchange Commission, with license number 226/14.” The company is based in Limassol, Cyprus, and is compliant with the MiFID II. Since it provides trading services for customers based in the EEA and Switzerland, there is no doubt on the quality of the regulatory compliance of eXcentral.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.42% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.