Note: Cento GX is to operate via the website - https://www.centogx.com/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
Cento GX is allegedly a forex broker registered in the United Kingdom that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:50 and floating spreads around 0.7 pips on the MT5 and web-based trading platforms via four different live account types.
As for regulation, it has been verified that Cento GX currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.27/10. Please be aware of the risk.
Market Instruments
From the trading software of Cento GX, we learn that users can trade with forex currency pairs, stocks, indexes, commodities, and cryptocurrencies.
Account Types
Cento GX claims to offer four types of trading accounts - Basic, Silver, Gold and Platinum, with minimum initial deposit requirements of €250, €10,000, €50,000 and €150,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Leverage
The leverage provided by Cento GX is adjusted based on the account type. Clients on the Basic and Silver accounts can experience leverage of 1:20, the Gold account has leverage of 1:25, while only the Platinum account holders can enjoy the maximum leverage of 1:50. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
The EUR/USD spread provided by Cento GX is 0.7 pips on average. All spreads with IMS FX are a floating type and scaled with the accounts offered.
Trading Platform Available
The platform available for trading at Cento GX is one of the most notable and preferred trading platforms the market offers - MetaTrader5 and a web trader. The MT5 is highly praised by traders and brokers alike due to its ease of use and great functionality, offering top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
Cento GX appears to accept deposits with crypto methods and a wire transfer. The minimum deposit is €250. The withdrawal area, on the other hand, claims the minimum withdrawal amount to be $100. However, it does not say anything about the payment methods used for taking out money.
Customer Support
Cento GXs customer support can be reached by telephone: +44 128 433 4982, +43 720 360 766, +1 647 349 3656, +34 930 302 792, +48 222 954 675, email: info@centogx.com. Company address: 330 High Holborn Holborn Gate, London WC1V 7QT, United Kingdom.
Pros & Cons
Frequently Asked Questions (FAQs)
2023-03-20 18:35
2023-03-09 17:30
