Global Broker governance & inquiry App

Score

0123456789
.
0123456789
0123456789
/10
The WikiFX Score of this broker is reduced because of too many complaints!

CENTRAL BULLION

Hong Kong|5-10 years|
Regulated in Hong Kong|Type AA License|MT4/5 full license|Regional Brokers|Medium potential risk|

http://www.zrgold202.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

8
Server Name
CentralBullionLtd-Demo MT4
Server Location China

Contact

+852 5287 6326
service@zrgold202.com
http://www.zrgold202.com/
Room F, 11 / F, Chen Li commercial building, 8 Yongji street, Hongkong
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

Chinese (Simplified)

+852 5287 6326

Broker Information

More

Company Name

CENTRAL BULLION LIMITED

Company Abbreviation

CENTRAL BULLION

Platform registered country and region

Hong Kong

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

WikiFX Risk Alerts
Previous Detection : 2024-03-29
  • The number of the complaints received by WikiFX have reached 5 for this broker in the past 3 months. Please be aware of the risk!

WikiFX Verification

Users who viewed CENTRAL BULLION also viewed..

XM

9.04
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website

Exness

8.37
Score
10-15 yearsRegulated in CyprusMarket Making(MM)MT4/5 full license
Official website

IC Markets

8.92
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website

GO MARKETS

8.97
Score
Above 20 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website
Pyramid scheme complaint
Expose

CENTRAL BULLION · Company Summary

Aspect Information
Company Name CENTRAL BULLION Limited
Registered Country Hong Kong
Founded Year 2018
Regulation Regulated by the Chinese Gold & Silver Exchange Society (CGSE)
Market Instruments London Gold, London Silver
Account Types Real Account (ID Card)
Minimum Deposit $100
Maximum Leverage Up to 1:500
Spreads No spreads (Commissions: $7.5 per transaction)
Trading Platforms MetaTrader 4 (MT4)
Customer Support Phone at (852) 5287 6326, service mailbox service@zrgold202.com
Deposit & Withdrawal RMB Online Banking
Educational Resources Limited (Market Flash, Financial Calendar, Financial News)

Overview of CENTRAL BULLION

CENTRAL BULLION, founded in Hong Kong in 2018, operates as a trading platform specializing in precious metals, prominently featuring London Gold and London Silver. The platform offers advantages such as regulatory oversight from the Chinese Gold & Silver Exchange Society (CGSE), providing a secure and transparent trading environment.

While CENTRAL BULLION provides distinctive trading assets, a maximum leverage of 1:500, and comprehensive customer support, users should be cautious due to exposure issues highlighted by complaints, limited educational resources, and exclusive reliance on RMB online banking for deposits, potentially limiting accessibility for some traders.

Overview of CENTRAL BULLION

Is CENTRAL BULLION legit or a scam?

CENTRAL BULLION operates under the regulatory oversight of the Chinese Gold & Silver Exchange Society (CGSE), holding a Type AA License with License No. 202 in Hong Kong. This regulatory status signifies a commitment to compliance and adherence to industry standards.

The Type AA License, issued by the CGSE, imposes specific regulatory requirements and standards on CENTRAL BULLION, ensuring the protection of traders' interests and the integrity of the platform.

Traders on the CENTRAL BULLION platform benefit from the assurance that the exchange operates within a regulated framework, promoting transparency, fair practices, and accountability. This regulatory oversight contributes to a more secure and trustworthy trading environment for participants, instilling confidence in the integrity of CENTRAL BULLION's operations and fostering a sense of security among traders engaging with the platform.

Is CENTRAL BULLION legit or a scam?

Pros and Cons

Pros Cons
Regulated Platform The platform faces significant exposure issues
Offers distinctive trading assets such as London Gold and London Silver Limited Educational Resources
Leverage up to 1:500, transparent fee structure, and a minimum deposit of $100. Exclusively accepts deposits through RMB online banking
MT4 Trading Platform
Comprehensive Customer Support

Pros:

  1. Regulated Platform:

    1. CENTRAL BULLION operates under the regulatory oversight of the Chinese Gold & Silver Exchange Society (CGSE), ensuring compliance and user protection.

2. Offers Distinctive Trading Assets:

  • The platform provides unique trading assets like London Gold and London Silver, offering diverse opportunities in the commodities market.

3. Leverage up to 1:500:

  • This account type offers leverage up to 1:500, a transparent fee structure, and a minimum deposit of $100, providing accessibility and clear cost parameters.

4. MT4 Trading Platform:

  • CENTRAL BULLION utilizes the widely recognized MetaTrader 4 (MT4) for online trading, offering a familiar interface and advanced technical analysis tools.

5. Comprehensive Customer Support:

  • Multiple communication channels, including a hotline and dedicated service mailbox, prioritize accessibility and timely assistance.

Cons:

  1. Exposure Issues:

    1. The platform faces significant exposure issues, including complaints related to potential involvement in pyramid schemes, unauthorized account actions, and withdrawal difficulties.

2. Limited Educational Resources:

  • The platform's educational offerings are limited to Market Flash, Financial Calendar, and Financial News, lacking comprehensive tutorials and materials.

3. Exclusive RMB Online Banking Deposits:

  • CENTRAL BULLION exclusively accepts deposits through RMB online banking, limiting options for users who prefer diverse payment methods.

Pros and Cons

Market Instruments

Central Bullion offers a distinctive range of trading assets, prominently featuring London Gold and London Silver. These precious metal trading options provide investors with unique opportunities in the commodities market.

London Gold, also known as spot gold margin trading, operates as a method of precious metal margin trading. The platform facilitates online trading with market makers, allowing participants to engage in gold transactions with the added advantage of leverage ratios. This form of trading provides flexibility and exposure to the dynamic gold market, where investors can capitalize on market movements and fluctuations.

On the other hand, London Silver, commonly referred to as spot silver, operates as a spot transaction. In this context, spot refers to the immediate or near-immediate delivery of the traded commodity following the completion of the transaction. Leveraging the principle of capital leverage, London Silver transactions are contractual agreements that offer investors the ability to engage in silver trading within a specified timeframe, enhancing the efficiency and responsiveness of their investment strategies.

Both London Gold and London Silver contribute to Central Bullion Limited's comprehensive portfolio, providing traders with diverse options in the precious metals market.

Market Instruments

Account Types

Real Account (ID Card): Central Bullion offers a real trading account that requires user verification through an ID card. This account type provides users with leverage of up to 1:500, allowing them to control larger positions with a relatively smaller capital outlay.

The spread and commission structure involves a charge of $7.5 per transaction, providing a transparent fee arrangement for traders.

To initiate trading, a minimum deposit of $100 is required, which can also be used as payment for transactions. Withdrawals from this account can be processed through RMB online banking, offering flexibility and convenience in managing funds. Traders utilizing the Real Account have access to the widely acclaimed MT4 Trading Platform, enhancing their trading experience with advanced features, various tools, and efficient execution capabilities.

This account type is suitable for a broad range of users, including those seeking leverage for potentially higher returns and individuals comfortable with the MT4 platform, known for its versatility and user-friendly interface. The accessible minimum deposit makes it inclusive for traders at different experience levels, aligning with both seasoned investors and those new to the market.

Aspect Leverage Spread&Commission Minimum Deposit Withdrawals Trading Tool
Real Account (ID Card) Up to 1:500 $7.5 per transaction $100 (can use as payment) RMB Online Banking MT4 Trading Platform

How to Open an Account?

  1. Sign the Account Opening Agreement:

  • Begin the account opening process by signing the Account Opening Agreement provided by the platform. Ensure that all information is accurate and in accordance with the requirements.

2. Submission:

  • Submit the signed Account Opening Agreement along with any required supporting documents. This may include proof of identity, address, and other relevant information.

3. Bind the Customer Center Account:

  • Proceed to bind your newly opened account with the customer center. This step may involve creating login credentials or linking the account to the platform's online customer center.

4. Verification:

  • The platform will initiate a verification process to ensure the accuracy of the provided information. This may involve confirming your identity and reviewing the submitted documents for compliance with regulatory standards.

These sequential steps guide users through a straightforward process, from initiating the account opening by signing the agreement to the final verification phase.

How to Open an Account?

Leverage

Central Bullion offers a maximum leverage of up to 1:500. This high leverage level allows traders to control larger positions with a comparatively smaller amount of capital. However, users should be mindful of the associated risks, as high leverage can amplify both returns and potential losses in trading activities.

Spreads & Commissions

Central Bullion employs a straightforward fee structure for its Real Account (ID Card) with no specified spreads. Traders using this account type encounter a fixed commission of $7.5 per transaction. This transparent pricing approach provides clarity to users, ensuring they can easily calculate the cost of their trades without navigating complex spread variations.

The Real Account with its fixed commission of $7.5 per transaction caters to a broad spectrum of users. This includes institutional clients and individual traders who prioritize clarity in transaction costs and are comfortable with a fixed fee structure. Particularly advantageous for those engaged in larger trade sizes, this account type is suitable for individuals seeking straightforward pricing without the need for negotiating spreads. The simplicity of the fee model makes it accessible for traders at different experience levels, providing a cost-effective solution for both seasoned investors and those new to the market.

Trading Platform

CENTRAL BULLION utilizes the widely recognized MetaTrader 4 (MT4) platform for online trading in bullion metals like gold and silver. While MT4 offers a familiar interface for seasoned traders, its suitability for CENTRAL BULLION depends on your trading style and preferences.

Strengths:

  • Familiarity: MT4 is a popular platform, widely praised for its intuitive interface and ease of use, especially for beginner to intermediate traders.

  • Technical Analysis Tools: MT4 boasts a comprehensive array of technical indicators and drawing tools, enabling visual analysis of market trends.

  • Automated Trading: MT4 allows for building and implementing automated trading strategies through Expert Advisors (EAs).

Limitations:

  • Limited Order Types: Compared to newer platforms, MT4 offers fewer advanced order types for sophisticated trading strategies.

  • Customization: MT4 customization options are restricted compared to more contemporary platforms.

  • Mobile Version: MT4's mobile app lags behind newer platforms in terms of features and functionality.

CENTRAL BULLION's reliance on MT4 can be beneficial for traders comfortable with the platform and its features. However, if you require advanced order types, extensive customization options, or a comprehensive mobile experience, exploring other platforms might be advisable.

Trading Platform

Deposit & Withdrawal

Central Bullion exclusively accepts deposits through RMB online banking, limiting the available payment options for users. This singular reliance on RMB online banking may pose a constraint for individuals who prefer diverse payment methods or operate in regions where alternative banking services are more common.

The minimum deposit requirement remains at $100, ensuring a relatively low entry point for users, but the restricted payment method may be a drawback for those seeking more flexibility and convenience in funding their trading accounts.

Customer Support

CENTRAL BULLION Limited provides customer support with multiple communication channels.

Traders can reach the customer support team via telephone at (852) 5287 6326, using the hotline for immediate assistance.

The company's physical address at Room F, 11/F, Chen Li Commercial Building, 8 Yongji Street, Hong Kong, serves as a contact point for in-person inquiries.

Additionally, a dedicated service mailbox (service@zrgold202.com) is available for general service queries, while the sales email (service@zrgold202.com) caters to sales-related inquiries.

With a range of contact options, CENTRAL BULLION prioritizes accessibility, ensuring timely and effective support for its users.

Customer Support

Educational Resources

Central Bullion provides limited educational resources, focusing primarily on Market Flash, Financial Calendar, and Financial News.

Market Flash offers brief updates and snapshots of market movements, providing users with timely information on key events.

The Financial Calendar serves as a tool for tracking significant financial events, aiding traders in planning their strategies.

Financial News delivers news updates, offering insights into market trends.

Educational Resources

Exposure

Central Bullion faces significant exposure issues as highlighted by user complaints.

These concerns range from potential involvement in pyramid schemes to unauthorized closing of positions and modifications of orders, raising doubts about the platform's integrity and user protection. Withdrawal difficulties, intentional staff ignorance, and repeated instances of unauthorized actions further emphasize potential risks for users.

Exposure

Conclusion

In summary, CENTRAL BULLION operates as a regulated platform under the Chinese Gold & Silver Exchange Society (CGSE), holding a Type AA License. The platform provides a variety of trading assets, such as London Gold and London Silver, offering investors opportunities in the precious metals market. CENTRAL BULLION presents advantages, including a maximum leverage of up to 1:500, a transparent fee structure, and comprehensive customer support, making it suitable for a diverse audience and enabling flexible trading experiences.

However, notable disadvantages include limited educational resources, relying solely on RMB online banking for deposits, and concerning exposure issues highlighted by user complaints. Instances of unauthorized position closures and order modifications raise concerns about the platform's integrity. Traders are advised to exercise caution, conduct thorough due diligence, and explore alternative platforms with a more robust educational framework and a secure regulatory standing to safeguard their investments effectively.

FAQs

Q: What is the minimum deposit required to open a CENTRAL BULLION account?

A: The minimum deposit is $100.

Q: What is the maximum leverage offered by CENTRAL BULLION?

A: CENTRAL BULLION provides a maximum leverage of up to 1:500.

Q: How can I contact CENTRAL BULLION's customer support?

A: You can reach customer support via telephone at (852) 5287 6326 or through the service mailbox at service@zrgold202.com.

Q: What trading platform does CENTRAL BULLION use?

A: CENTRAL BULLION utilizes the MetaTrader 4 (MT4) platform.

Q: Does CENTRAL BULLION offer educational resources?

A: Yes, CENTRAL BULLION provides limited educational resources, including Market Flash, Financial Calendar, and Financial News.

Q: What is the regulatory status of CENTRAL BULLION?

A: CENTRAL BULLION operates under the regulatory oversight of the Chinese Gold & Silver Exchange Society (CGSE), holding a Type AA License in Hong Kong.

User Reviews

Sort by content

  • Sort by content
  • Sort by time

User comment

3

Comments

Write a review

f4f4f4
more than one year
CENTRAL BULLION let me down big time. My $2000 withdrawal was ignored, and they messed with my trades without asking, costing me $562. Withdrawal issues and unreliable customer service make them a risky choice. Approach with caution!
2023-12-19 19:21
Reply
0
0
鸿水
more than one year
Recommend this platform! fees are extremely transparent, trading platform quite stable… they processed my withdrawal so timely. I have no problems in trading with this platform.
2022-11-28 19:01
Reply
0
0
FX1017988892
more than one year
If there was a 0 star, I would give it. They refused to send me my money. I have done everything that they have asked of me and now, yea....
2022-11-15 16:53
Reply
0
0
5
TOP
Select Country/District
United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com