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The WikiFX Score of this broker is reduced because of too many complaints!

eXcentral

South Africa|2-5 years|
Regulated in South Africa|Suspicious Regulatory License|MT4/5 full license|Regional Brokers|South Africa Financial Service Corporate Revoked|Suspicious Overrun|High potential risk|

https://excentral-int.com/

Website

Rating Index

MT4/5 Identification

MT4/5

Full License

eXcentralInt-Demo

United Kingdom
MT4
2

Influence

D

Influence index NO.1

Dominica 2.74
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
eXcentralInt-Demo MT4
Server Location United Kingdom

Influence

Influence

D

Influence index NO.1

Dominica 2.74

Surpassed 46.01% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+27 8 71 951005
inquiries@excentral-int.com
https://excentral-int.com/
Unit 6C3, 159 Rivonia Rd, Sinosteel Plaza, Morningside Ext 39, Sandton, Gauteng, 2146, South Africa

Licenses

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

Single Core

1G

40G

Open Now

Disclosure

Danger

ID BAPPEBTI
2022-02-02
Ministry of Trade Blocks 1,222 Illegal Commodity Futures Trading Websites
eXcentral
VZN FOREX
SANDWIND GLOBAL

Contact number

English

+27 8 71 951005

Broker Information

More

Company Name

OM BRIDGE (PTY) LTD

Company Abbreviation

eXcentral

Platform registered country and region

South Africa

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 4
Previous Detection : 2024-03-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 9 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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Expose

    eXcentral · Company Summary

    Aspect Information
    Company Name eXcentral
    Registered Country/Area South Africa
    Founded Year 2018
    Regulation Revoked
    Minimum Deposit $1,000
    Market Instruments Forex,Commodities,Indices
    Account Types Classic,VIP,Gold
    Leverage Up to 1:30
    Spreads&commissions Spreads:0.06-2.5pip,no commissions
    Trading Platforms MT4,MT5 platform
    Demo Account Available
    Customer Support Email:inquiriesaexcentral-int.com,Phone:+278 71 951005
    Deposit & Withdrawal Bank transfer,debit/credit card,third party payment

    Overview of eXcentral

    eXcentral, founded in 2018 and based in South Africa, is a financial services company that has had its regulation revoked. The firm requires a minimum deposit of $1,000 and offers trading in Forex, commodities, and indices.

    eXcentral provides various account types including Classic, VIP, and Gold, catering to different levels of traders. The company offers leverage of up to 1:30 and boasts competitive trading conditions with spreads ranging from 0.06 to 0.1 pip, without charging commissions.

    Traders have access to both MT4 and MT5 platforms, popular choices for their robust features and user-friendliness. A demo account is also available for practice trading. Customer support can be reached via email at inquiriesaexcentral-int.com or by phone at +278 71 951005.

    For deposits and withdrawals, eXcentral accepts bank transfers, debit/credit cards, and third-party payments. However, the revocation of its regulation takes about its credibility and the safety of client funds.

    Overview of eXcentral

    Is eXcentral Limited Legit or a Scam?

    eXcentral, operating under the licensed institution OM BRIDGE (PTY) LTD, had its regulatory status revoked by the Financial Sector Conduct Authority in South Africa.

    The company, which held the license number 48296 since June 6, 2017, was categorized as a Financial Service Corporate. The revocation of its license raises significant concerns regarding its compliance with financial regulatory standards and the overall safety and legitimacy of its operations.

    The licensed institution is located at UNIT 6C3, 159 Rivonia Road Sinosteel Plaza, Morningside Ext 39 Sandton, and can be contacted at the phone number 27072 216 2542. However, given the revocation of its regulatory status, caution is advised when considering any engagement with eXcentral.

    The reason for the revocation and the current operational status of the company would require further investigation for anyone considering their services.

    Is eXcentral Limited Legit or a Scam?

    Pros and Cons

    Pros Cons
    Diverse Market Instruments Regulation Revoked
    Multiple Account Types High Minimum Deposit
    Competitive Spreads Uncertain Operational Status
    Access to MT4 and MT5 Platforms Limited Information on Licensed Institution
    Demo Account Availability Potential Risk to Investors

    Pros:

    1. Diverse Market Instruments: Offers trading in Forex, commodities, and indices, providing a range of options for traders.

    2. Multiple Account Types: Availability of Classic, VIP, and Gold accounts caters to different levels of traders, offering flexibility and tailored trading experiences.

    3. Competitive Spreads: Claims to offer low spreads ranging from 0.06 to 0.1 pip, which can be beneficial for cost-effective trading.

    4. Access to MT4 and MT5 Platforms: Both platforms are well-regarded in the trading community for their advanced features and user-friendly interfaces.

    5. Demo Account Availability: Provides a demo account, allowing new traders to practice and get acquainted with the platforms without financial risk.

    Cons:

    1. Regulation Revoked: The revocation of its regulatory status by the Financial Sector Conduct Authority in South Africa is a major red flag, indicating potential issues with compliance and reliability.

    2. High Minimum Deposit: A minimum deposit of $1,000 might be relatively high for beginner traders or those looking to test the waters with smaller investments.

    3. Uncertain Operational Status: The revocation of its license raises questions about the current operational status and the safety of client funds.

    4. Limited Information on Licensed Institution: Lack of detailed information about the licensed institution OM BRIDGE (PTY) LTD, including its website and email address, hinders transparency.

    5. Potential Risk to Investors: Given regulatory concerns, there is a heightened risk for anyone considering investing or trading with eXcentral.

    Market Instruments

    eXcentral offers trading in a range of market instruments, which include:

    1. Forex: This includes a variety of currency pairs, allowing traders to speculate on the changing values of currencies against each other.

    2. Commodities: These typically involve trading in natural resources such as gold, silver, oil, and agricultural products. Commodities trading can be a way to diversify a trading portfolio beyond forex and indices.

    3. Indices: Trading in indices involves speculating on the price movements of index funds, which represent the aggregated performance of a selection of stocks. Indices usually reflect the performance of a particular sector or the broader market.

    Market Instruments

    Account Types

    Classic Trading Account:

    The Classic Trading Account at eXcentral is designed for entry-level traders, offering leverage up to 1:30. It features a 2.5 spread on EUR/USD and a $0.10 spread on Crude Oil, catering to those who prefer trading in major forex pairs and commodities.

    This account includes negative balance protection, which can be a safety net for traders against going into debt. Additionally, it comes with free trading education, providing resources for beginners to learn and develop their trading skills.

    VIP Account:

    eXcentral's VIP Account is tailored for more advanced traders, maintaining the same leverage of up to 1:30. It offers narrower spreads, with 0.9 on EUR/USD and $0.06 on Crude Oil, which can be appealing for more frequent or experienced traders.

    This account enhances the trading experience with added features like educational webinars, SMS MTE trading signals for timely market insights, and weekly account overviews for a regular summary of trading performance.

    The VIP Account is a step up for those seeking more in-depth market analysis and educational support.

    Gold Account:

    The Gold Account at eXcentral is geared towards serious, committed traders, providing leverage up to 1:30. It offers competitive spreads of 1.8 on EUR/USD and $0.08 on Crude Oil.

    Alongside the benefits found in the VIP Account, the Gold Account introduces a monthly account overview for comprehensive performance tracking and the services of a dedicated senior account manager for personalized trading support.

    Exclusive one-on-one sessions are a standout feature, offering bespoke guidance and strategy discussion, making this account suitable for those seeking a highly tailored trading experience.

    Account Types
    Account Type Leverage EUR/USD Spread Crude Oil Spread
    Classic Up to 1:30 2.5 $0.10
    VIP Up to 1:30 0.9 $0.06
    Gold Up to 1:30 1.8 $0.08

    How to Open an Account?

    Opening an account with eXcentral typically involves the following four steps:

    1. Account Selection:

      Begin by choosing the type of trading account that best suits your trading needs and experience level. eXcentral offers Classic, VIP, and Gold accounts, each with different features and spreads.

    2. Registration Process:

      Complete the registration form on eXcentrals website. This process usually requires providing personal information such as your name, address, contact details, and possibly some financial information to assess your trading experience and risk tolerance.

    3. Verification (KYC Process):

      As part of the Know Your Customer (KYC) process, submit the necessary documents for identity verification. This typically includes a government-issued ID (like a passport or drivers license), proof of residence (such as a utility bill or bank statement), and possibly additional financial documents.

    4. Fund Your Account:

      Once your account is verified, deposit funds to meet the minimum deposit requirement, which is $1,000 for eXcentral. Choose a suitable deposit method from the options available, such as bank transfer, debit/credit card, or third-party payment methods.

    After completing these steps, youll be able to access the trading platform (MT4 or MT5) provided by eXcentral and start trading with the chosen account type.

    Leverage

    eXcentral offers leverage of up to 1:30 across its trading accounts, which includes the Classic, VIP, and Gold account types. This level of leverage allows traders to control a larger position with a relatively smaller amount of capital.

    For example, with a leverage of 1:30, a trader can hold a position worth up to 30 times their account balance. While this can amplify potential profits, it also significantly increases the risk of losses, especially in volatile market conditions.

    Therefore, it's important for traders to use leverage cautiously and understand its implications fully. Leverage is a powerful tool in trading, but it requires a good understanding of risk management to use effectively, particularly for less experienced traders.

    Spreads & Commissions

    eXcentral offers trading conditions with competitive spreads and no commission fees. The specifics of their spreads and commissions are as follows:

    • Spreads

    eXcentral advertises spreads as low as 0.06 to 2.5 pip, which is quite tight and can be beneficial for traders looking to minimize their trading costs.

    For example, the spread for EUR/USD ranges from 0.06 pip in the VIP account to 2.5 pips in the Classic account. Similarly, the spread for Crude Oil varies from $0.06 in the VIP account to $0.10 in the Classic account.

    Such low spreads are particularly advantageous for high-frequency traders or those who trade large volumes.

    • Commissions:

    The company states that it charges no commissions on trades. This means that traders don't have to pay a separate fee for each trade they execute, which is a cost-effective feature for active traders.

    While these trading conditions appear attractive, especially for those looking to keep their trading costs low, it is crucial for traders to consider the overall context of the brokerage, including its regulatory status and reliability.

    Spreads & Commissions
    Account Type Spread from Commission ($)
    Raw 0.2 7
    Real 1.0 1.5 No
    Real 2.0 2.5 No

    Trading Platform

    eXcentral offers its clients two well-regarded trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

    1. MT4 Platform: MT4 is one of the most popular trading platforms in the forex and CFD trading community. It is known for its user-friendly interface, robust technical analysis tools, a wide array of charting options, and support for automated trading through Expert Advisors (EAs).

    2. MT5 Platform: As the successor to MT4, the MT5 platform offers extended features and capabilities. It supports more types of trading orders and has additional timeframes for analysis. MT5 also provides access to more indicators and analytical tools, along with enhanced charting capabilities.

    Both platforms offer mobile versions, allowing traders to manage their accounts and trade from anywhere. The choice between MT4 and MT5 typically depends on the trader's preference, trading style, and the specific instruments they wish to trade.

    Trading Platform

    Deposit & Withdrawal

    eXcentral offers various options for deposit and withdrawal, including a specific minimum deposit requirement:

    1. Minimum Deposit: The minimum amount required to open an account with eXcentral is $1,000. This sets a relatively high entry barrier, especially for novice traders or those who prefer to start with a smaller capital investment.

    2. Payment Methods:

      1. Bank Transfer: Allows for direct transfer of funds from a trader's bank account to their trading account. This method is typically secure but may take several days to process.

      2. Debit/Credit Card: Offers a quick and convenient way to deposit funds using widely accepted cards like Visa and MasterCard.

      3. Third-Party Payment: Accepts deposits via various third-party payment systems, which could include digital wallets or online payment services. These methods often provide quick and easy transactions.

    Customer Support

    eXcentral provides customer support through multiple channels, aiming to assist clients with their queries and issues. Customers can reach out via email at inquiriesaexcentral-int.com, offering a direct line of communication for support, queries, or feedback.

    Additionally, they provide phone support at +278 71 951005, which can be beneficial for immediate assistance or for discussing more complex issues. The availability of these support options suggests a commitment to maintaining accessible customer service.

    Customer Support

    Conclusion

    In summary, eXcentral, based in South Africa and founded in 2018, offers Forex, commodities, and indices trading on both the MT4 and MT5 platforms, with account options including Classic, VIP, and Gold. They provide leverage up to 1:30 and competitive spreads with no commission fees.

    However, a significant concern is their revoked regulatory status, which poses serious questions about the firm's credibility and the safety of client investments.

    While they offer a minimum deposit of $1,000 and multiple channels for customer support, potential clients should approach with caution and thoroughly evaluate the risks due to the regulatory concerns.

    FAQs

    Q:What trading platforms does eXcentral offer?

    A:eXcentral provides the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms for trading.

    Q:What is the minimum deposit required to open an account with eXcentral?

    A:The minimum deposit required to open an account with eXcentral is $1,000.

    Q:What types of trading accounts does eXcentral offer?

    A:eXcentral offers three types of accounts: Classic, VIP, and Gold, each with different features and spreads.

    Q:What leverage does eXcentral offer?

    A:eXcentral offers leverage up to 1:30 across all its trading accounts.

    Q:How can I deposit or withdraw funds from eXcentral?

    A:Deposits and withdrawals can be made via bank transfer, debit/credit card, or third-party payment methods.

    Q:How can I contact eXcentral's customer support?

    A:Customer support can be reached via email at inquiriesaexcentral-int.com or by phone at +278 71 951005.

    News

    WikiFX report: eXcentral Upgrades Customer Services, Now Offers 24/7 Support

    NewsWikiFX report: eXcentral Upgrades Customer Services, Now Offers 24/7 Support

    2022-04-20 16:03

    Due to increased demand for the brand's services, major online trading firm eXcentral has announced that its support team will now be available 24 hours a day, seven days a week, starting immediately. With this move, the company continues to pursue its goal of being a leader in the industry on a variety of fronts.

    WikiFX
    2022-04-20 16:03
    News
    WikiFX report: eXcentral Upgrades Customer Services, Now Offers 24/7 Support
    WikiFX report: eXcentral Launches Expert Generated SMS Trading Signals

    NewsWikiFX report: eXcentral Launches Expert Generated SMS Trading Signals

    2022-04-12 16:18

    Customers receive competitive spreads in the industry, great trading platforms, and educational content, including free webinars, from eXcentral, which is more than just a CFDs broker.

    WikiFX
    2022-04-12 16:18
    News
    WikiFX report: eXcentral Launches Expert Generated SMS Trading Signals
    WikiFX report: eXcentral news

    NewsWikiFX report: eXcentral news

    2022-04-12 16:15

    The finest brokers charge costs in the form of spreads and commissions, and while they may have charges, they are based on the money their clients are trading rather on commissions. Withdrawal fees are rarely, if ever, charged by legitimate brokers. Many dishonest brokers, for example, charge excessive withdrawal costs that do not just cover service fees.

    WikiFX
    2022-04-12 16:15
    News
    WikiFX report: eXcentral news
    WikiFX report: excentral-int.com News

    NewsWikiFX report: excentral-int.com News

    2022-04-12 16:10

    Excentral-int.com clearly accomplished none of the above, and could not even be considered a broker, but rather a foreign exchange scam. If excentral-int.com gives you more leverage than this, it's a sign that excentral-int.com is a hoax. Excentral-int.com is more likely to be a fraud if it requires a higher-than-average payment. A legitimate broker will usually ask around $5 to $10 in exchange for their services.

    WikiFX
    2022-04-12 16:10
    News
    WikiFX report: excentral-int.com News

    User Reviews

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    是筱娜娜呀
    more than one year
    In my opinion, eXcentral should improve their charting system, as it sucks. They should also train their agents more, or else they do nothing but let you take out your money.
    2023-02-24 12:22
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    0
    张二小
    more than one year
    Despite all the favorable conditions, do not fall into the trap set up by this unregulated scammer! We can see that some have been their victims.
    2023-02-14 15:55
    Reply
    0
    0
    FX1081826092
    more than one year
    Looking at their website between deposits, it says that the minimum deposit is only 250 US dollars, so I opened a basic account. Who knows, the account manager called me again and told me to invest more, so that I could earn more faster. I didn't want to put more money in the first place, but they kept brainwashing me and I fell for them and put another $1000 in. Then, suddenly, my account balance went to zero. THEY ARE ALL SCAMMERS! DON’T BE CHEATED!!!
    2022-11-29 16:44
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    0
    A菲菲-FINUK团队对接中
    more than one year
    A typical scammer, the spreads on its trading platform are quite high in comparison to other brokers…very unstable, you could lose thousands of your money during a very short period of time. STAY AWAY FROM THIS BROKER, TRUST ME, BUDDIES!
    2022-11-29 14:12
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    0
    0
    鱼魚渔
    more than one year
    Totally fraud... I should never trust this broker gullibly. Now I am already scammed and I see that in Wikifx many have revealed their cursed actions. if you could have seen this page four months ago you would not have been scammed. I hope more people see my review.
    2022-11-21 18:17
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