de | cn | ru

eXcentral Review - is it scam or safe?

eXcentral Review - is scam or good forex broker?

RATING: 3 / 4 REVIEWS ForexBrokerz eXcentral


Trading Accounts and Conditions


Trading account Min. deposit Max. leverage Spread
Standard $250 1:400 1.7 pips


eXcentral is a Cypriot broker that seems to offer a single account and access to the MT4 platform. In our thorough and unbiased review of this brokerage we will highlight both its strong and weak sides, so make sure you read it before you invest any money.



eXcentral Advantages


Regulated in Cyprus (EU)

When we weighted the advantages of eXcentral, one that stands out is the fact that the broker is regulated in Cyprus and across EU and the EEA. The brand is owned by Mount Nico Corp Ltd., which also operates NICOFX.



Cyprus is one of the most popular forex broker destinations as regulation there is well-balanced and sound. Generally speaking, a broker holding a license with CySEC provides traders with sufficient security about their investment. Now that the UK is in the process of exiting of the EU, a lot of brokers eye the Cyprus as the best alternative.


MT4 available, up to 1:400 in leverage 

The presence of the MT4 is always considered as plus of any broker, as the platform provides a full spectrum of trading tools and features:  a number of built-in technical indicators, advanced charting package, wide range of Expert Advisers (EAs), extensive back-testing environment, as well as other perks. Besides, the MT4 is available as a desktop download, web-based platform and mobile apps



>> Check out the best MT4 brokers <<



Another thing that could be viewed as an advantage of eXcentral, is that the broker offers leverage up to 1:400, at least on demo accounts. We suppose that such leverage ratios are only extended to professional clients in live trading environment, as per ESMA’s guidelines. As most of you probably know, leverage is capped throughout the EU for investor protection concerns.


Diversified product portfolio

Another possible advantage of eXcentral is the rich and diversified product portfolio of the broker. It offers trading in forex, CFDs on indices, commodities, precious metals, stocks, and some of the most popular cryptocurrencies.


In case you are a crypto trading enthusiast, you might also take a look at our list of reliable brokers offering trading in such as CFDs.



>> Licensed forex brokers offering Bitcoin <<



eXcentral Disadvantages


Spreads not specified, demo ones rather high

There is no information to be found on eXcentral’s website regarding the costs of trading, nor the maximum leverage levels provided. This leaves a bad impression, especially on the part of a regulated broker.



Click on the image to view larger.

Fortunately, the broker offers free demo accounts, so we saw that the spread for the EUR/USD pair is floating around 1.7 – 1.8 pips. This is slightly above the average in the sector. While the spread shouldn’t be your main concern, other brokers offer much better trading conditions. Check out our dedicated spread comparison platform for the full picture.


>> Compare the spreads of some top brokers here <<





Overall, eXcentral appears like a reliable and well-regulated forex broker, whoso offer is not bad. On the negative side we should note that its spreads aren’t very attractive. Yet, eXcentral’s most important advantage is the CySEC license.


The Cypriot financial watchdog applies certain rules and requirements to license holders. For instance, client funds must be held in segregated accounts, brokers should hold at least €730 000 as a proof of financial stability, to regularly report transactions, and meet all requirements set on a EU level. The latter include provision of negative balance protection, disclosing the percentage of clients who lose money with the broker, a leverage cap of 1:30, and more.


Besides, all CySEC-regulated companies are members of the Investor Compensation Fund, which is able to pay compensation to its covered clients, amounting to a maximum of 20,000 EUR.


Finally, here are the highlights of our review on eXcentral:


Pros Cons
CySEC license Trading conditions not fully disclosed
MT4 available, generous leverage  
Wide range of assets available  



Latest news about eXcentral
No news about eXcentral . Check back later.
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
UK FCA MT4, Web,
$50 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for eXcentral
















Price feed















Customer service










Scam Scam

I have had a very bad experience with them & lost £43900 i have no experience in trading & was assigned John Toby who who carried out all of the trades for me. He actually showed me what to do on the screen & what buttons to click. At no point did he discuss the danger or the amount of trades carried out. I was very concerned but he stated that i will be able to take my money out on. When i checked there was only £1093 left in the account. I have reported them to Action fraud I am still awaiting a response about the way i have been scammed. I spoke to his manager & even he stated too many trades were carried out & he was the senior accounts manager. When he use to phone me it was a London number which was not in service if you tried to ring back. This seems to be a very sophisticated scam operating from abroad with all the right credentials in place.

Vijay Chapaneri 01/10/2020

Bad guys

Hi all excentral is very bad guys trust me I have lost alot of money through them first you'll make a minimum deposit and once you're in the will ask you to make more deposit and that's how they milk people money stat way from. Excentral!!!

Jan 12/24/2019

problem with account

The account dont take your password nor the email address after i paid my money in your account.Please pay back my 250$.thank you.We are from South Africa now the account say we do not trade with South Africa after you pay the Money in.

johan 11/13/2019
de | cn | ru