TradeCentrum Review – What to expect from the company

TradeCentrum is an STP CFD Broker that features on its trading platform CFDs on Forex, commodities, indices and shares. TradeCentrum is a subsidiary company of Goldenburg Group Ltd, a corporation that is licensed in Cyprus by the CySEC. The typical spread is for EUR/USD 3.0 pips*, real trading is possible with the minimum deposit of $100. The TradeCentrum website is available in 10 languages including English, Czech, Vietnamese and Spanish.

What do we cover in our TradeCentrum Review?


General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Basic information about the broker

  • Website address: www.TradeCentrum.com
  • Leverage: up to 1:30
  • Instruments: CFDs – Forex, commodities, indices, shares
  • Minimum deposit: $100 (for credit card and Dotpay payments)
  • Demo account: Yes, free of charge (30-day expiry)
  • Methods of deposit and withdrawal: Wire Transfer, Dotpay, Credit card (Visa)

TradeCentrum Trading Platform

TradeCentrum offers to its clients MT5. This trading platform features up to 21-time frames, comprehensive price and market analysis and up to 79 analytical tools. MT5 can be downloaded (free of charge) to any computer or can be accessed via just a web browser or a mobile application.

TradeCentrum Spreads

As any other CFD broker, TradeCentrum charges a spread fee. For the most current spread charges, please visit the TradeCentrum.com website. Here is a spread comparison table that contrasts TradeCentrum spreads with popular industry competitors.


Asset EUR/USD USD/JPY GBP/USD AUD/USD
TradeCentrum * 3.0 7.0 7.0 10.0
Plus500** 0.6 0.7 1.1 0.6
IQOption** 1.2 0.9 1.5 1.6

*Typical spreads recorded on 26.06.2019 at 17:01 GMT, spread charges were taken from the website of the broker. **Spreads recorded on 26.09.2019 at 11:26 GMT from the trading platform of the broker.

Advantages and disadvantages

Every Broker has its pros and cons, let’s have a look at the ones that elevate & denounce TradeCentrum .

TradeCentrum Pros
  • Low minimum deposit
  • International support
TradeCentrum Cons
  • No e-wallet payments + Does not accept MasterCard payments
  • High spreads
  • No CFDs on cryptocurrencies

To sum up the TradeCentrum Review

TradeCentrum adheres to strict regulatory guidelines of the CySEC. The broker has an attractive minimum deposit, but be aware that for bank transfers the minimum deposit is set at 250 dollars, not 100. Spreads that the broker charges are high and do not match the offer of most other brokers in the forex industry. The number of available CFDs is decent, the broker even features CFDs on some interesting stock titles that are specific to certain countries in the EU. That being said, I am missing CFDs on cryptocurrencies, it would be nice to see at least an option to trade CFD on Bitcoin. What I would also welcome are MasterCard payments and at least support of one e-wallets (either Skrill or Neteller).

 

Your review can make a difference to other traders, please leave a comment if you have any personal experience with TradeCentrum .



Michael

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