eXcentral Review – What to expect from the broker

eXcentral is a CFD Broker that features on its trading platform CFDs on forex pairs, stocks, commodities, indices, cryptocurrencies and ETFs. eXcentral is a subsidiary company of Mount Nico Corp Ltd., a corporation that is regulated and overseen in Cyprus by the CySEC. The broker charges on the currency pair EUR/USD 2.4 pips*, real trading is possible with a minimum deposit of $250. The eXcentral website is available in English, German, Spanish, Dutch, Italian and Czech.

What do we cover in our eXcentral 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.eXcentral.com
  • Leverage: up to 1:30
  • Instruments: Forex, CFDs – Shares, commodities, indices, cryptocurrencies, ETFs
  • Minimum deposit: $250 (accounts held in USD, GBP, EUR)
  • Demo account: Yes, free of charge
  • Methods of deposit and withdrawal: Wire Transfer, Skrill, Neteller, Credit and debit cards (Visa/MasterCard)

eXcentral Trading Platform

For FX and CFD trading, eXcentral offers MT4. A popular platform used not only for executing trades but also for analyzing financial markets and automated trading. MT4 can be downloaded to any computer or can be accessed via just a web browser or a mobile application. The trading platform gives access to over 300 trading instruments.

eXcentral fees (spreads)

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


AssetEUR/USDUSD/JPYGBP/USDAUD/USD
eXcentral*2.52.82.8N/A
Plus500**0.60.71.10.6
IQOption**1.20.91.51.6

*Indicative spreads recorded on 31.10.2019 at 20:10 GMT for the classic account. 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.

eXcentral regulation

Mount Nico Corp Ltd. is authorized and regulated under the Cyprus Securities and Exchange Commission under license number 226/14.

The CySEC regulation gives eXcentral the right to provide cross-border services to other members of the European Economic Area.

Advantages and disadvantages

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

eXcentral Pros
  • Modern website
  • Support in 6 languages
eXcentral Cons
  • Spreads

To sum up the eXcentral Review

eXcentral adheres to strict regulatory guidelines of the CySEC. The broker charges quite high spreads for the classic account holders. Traders with a VIP account have significantly lower spread (0.9 pips), unfortunately, I could not find out the conditions required to get this account type. The broker offers a popular trading platform MT4 and a free practice demo account. The amount available CFDs is solid and covers 6 assets classes.

 


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.

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



Michael
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