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eXcentral -

Score

1.66 /10
Danger

eXcentral

Cyprus

10-15 years

Regulated in Cyprus

Straight Through Processing(STP)

Suspicious Scope of Business

Suspicious Overrun

High potential risk

https://eu.excentral.com

Influence

D

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Comparison

Quantity 8

Exposure

Time Machine
Website

Score

Regulatory Index3.51

Business Index8.14

Risk Management Index0.00

Software Index4.00

License Index0.00

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

Licenses

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

Single Core

1G

40G

open now

Broker Information

More

Company Name

Mount Nico Corp Limited

Company Abbreviation

eXcentral

Platform registered country and region

Cyprus

Company website

X

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YouTube

Linkedin

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 3
Previous Detection : 2024-12-22
  • The number of the complaints received by WikiFX have reached 8 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The number of this brokers's negative field survey reviews has reached 2. Please be aware of the risk and the potential scam!

A Visit to EXCENTRAL in Cyprus – No Office Found

The survey team went to Limassol, Cyprus to visit broker EXCENTRAL as scheduled, but did not find the company at its regulatory address. Accordingly, investors should be meticulous in choosing the broker.

Danger Cyprus

WikiFX Verification

Exposure

8 pieces of exposure in total
Pyramid scheme complaint
Expose
Scam

I couldn’t understand

I deposited $250 into the platform while the platform claimed to charge service fee!!

2020-04-25 18:38
Scam

Induced Fraud

Induce the new hand open a position and close it within 1 minute. The manager refused to admit the situation and lied that the customer operated by mistake.

2021-04-11 19:54
Scam

Scam

I started transaction on this platform from August 17 and deposited. Then they continued to persuade me to add deposit. When I wanted to withdraw, it asked for several fees. I paid those fees until my account consumed up. Do not trust this fraud platform.

2021-08-31 20:39
Scam

Scam

It asked me to deposit $251 for the first time and another $250 for transaction due to risk consideration. Then it request remittances by providing high profits. Even if we set a stop loss, it will continue to ask you to deposit with insufficient margin. In the end, the profitable account will directly become negative. It will also ask you to remit but I refuse. Then my account was blocked. It has been confirmed that there is no office in the registered place.

2021-07-26 11:06
Unable to Withdraw

Unable to withdraw. Fraud platform

It was a fraud platform. Unable to withdraw. I deposited but could not withdraw when making profits. It asked me to upgrade membership. It was a scam.

2021-11-12 15:33
Unable to Withdraw

They manipulate everything

My cousin made the transfer for the amount of 1370$ because I don't know how to use the Internet very well, after that it was reflected on the board and the next day there was nothing and they wash their hands like Pilate.

2021-11-07 21:02
Scam

The response is so rude.

The manager controls the investment platform. Unable to withdraw. I’ve reported such situation to eXcentral many times, but the manager lampooned me. I’m a new hand and follow their instructions. But I lost money for their wrong instructions. And they asked me to add more on grounds of margin. What they did is not to help u earn money, making your positions wiped out compulsorily. After they claimed that the customer manager was unfit, they disappeared.

2021-04-13 10:02
Unable to Withdraw

Typical phishing platform

The platform uses the greed of human nature to induce you to deposit a small amount at first. Managers make thousands of calls to induce capital injection. I asked him how to withdraw. However the account that can only deposit but not withdraw. It takes 4-5 days of review. During this time, he was free to escape with the deposit, or deactivate your account. These platforms do not exist at all, and don't believe that managers teach you to invest for free. Please withdraw the money, and wait 4-5 days to see if the money will be returned to your account by yourself. I was a victim to warn you because I deposited $250, and I had to withdraw 300 for one time to close the position.

2021-07-20 12:19
    Sources
    Data Source WikiFX Data provide
    Updated: 2024-12-22
    eXcentral · Company summary

    Note: eXcentral's official website: https://eu.excentral.com is currently inaccessible normally.

    eXcentral Review Summary
    Founded2014
    Registered Country/RegionSouth Africa
    RegulationFSCA (License Number 48296, Clone Warning), CySEC (Mount Nico Corp Ltd, License Number 226/14)
    Market InstrumentsForex, Commodities, Crypto, CFDs, Stocks, Indices
    Demo Account✅
    LeverageUp to 1:400
    SpreadStarting from 0.9 pips (VIP Account)
    Trading PlatformMetaTrader 4, eXcentral Web Platform, Android App
    Min Deposit$250
    Customer SupportEmail: inquiries@excentral-int.com
    Phone: Available upon request
    Address: Unit 6C3, 159 Rivonia Rd, Sinosteel Plaza, Morningside, Gauteng, South Africa

    eXcentral Information

    eXcentral provides commodities, Forex, and CFDs among other trading instruments. It gives traders access to MetaTrader 4 as well as its own web platform. Though CySEC controls it, there is a clone warning about FSCA control.

    Pros and Cons

    Pros Cons
    Proprietary platform and MT4 availableClone license warning from FSCA
    Educational tools and webinarsHigh minimum deposit requirement

    Is eXcentral Legit ?

    Under license number 226/14 the Cyprus Securities and Exchange Commission (CySEC) controls eXcentral. Mount Nico Corp. is the licenced institution.

    Is eXcentral Legit ?

    However, there is also a dubious clone notice connected to a different license from the Financial Sector Conduct Authority (FSCA) in South Africa. The entity OM Bridge (PTY) Ltd claims control but is under suspicion as a clone.

    Regulatory StatusSuspicious clone
    Regulated byFSCA
    Licensed InstitutionOM Bridge (PTY) Ltd
    Licensed TypeFinancial Service Corporate
    Licensed Number48296
    Is eXcentral Legit ?

    Registered on March 4, 2014, the domain excentral.com is still valid with a March 4, 2025 expiration date.

    Is eXcentral Legit ?

    What Can I Trade on eXcentral

    eXcentral offers over 160 CFDs, including Forex (47 pairs), Commodities, Stocks, Indices, and Cryptos.

    Tradable Instruments Supported
    Forex✔
    Commodities✔
    Crypto✔
    CFD✔
    Indexes✔
    Stock✔
    ETF❌

    Account Types

    Each of the four active account types available from eXcentral—Classic, Silver, Gold, and VIP—fits for different trading levels. Additionally accessible for practice is a demo account. The accounts vary in services, including access to account managers, as well as in spread.

    Leverage

    eXcentral provides leverage up to 1:400, which, particularly for new traders, greatly increases risk even when it can boost possible earnings.

    eXcentral Fees

    With spreads starting at 0.9 pips for VIP accounts and 2.5 pips for lower-tier accounts, eXcentral's fees are somewhat expensive relative to the industry average.

    The withdrawal cost is $10; depending on the length of inactivity on the account, inactivity fines run from $80 to $200.

    Non-Trading Fees

    Deposit FeeNot mentioned
    Withdrawal Fee$10
    Inactivity Fee$80 - $200

    Trading Platform

    Trading PlatformSupported Available Devices Suitable for
    MetaTrader 4✔Web, Mobile, DesktopAll traders
    eXcentral Web Platform✔WebAll traders
    Android App✔Mobile (Android)Traders on the go

    Deposit and Withdrawal

    eXcentral charges a $10 withdrawal fee, and the minimum deposit is $250.

    Deposit Options

    Deposit Options Min. DepositFees Processing Time
    Credit/Debit Cards$250Not mentionedNot mentioned
    Bank Wire Transfer$250Not mentionedNot mentioned
    Skrill$250Not mentionedNot mentioned

    Withdrawal Options

    Withdrawal Options Min. Withdrawal Fees Processing Time
    Credit/Debit CardsNot mentioned$10Not mentioned
    Bank Wire TransferNot mentioned$10Not mentioned

    News

    NewsWIKIFX REPORT: CySEC Settles with eXcentral and NicoFX Operator for €290K

    The Cyprus Securities and Exchange Commission (CySEC) has settled with Mount Nico Corp Ltd, the operator of the trading brand, eXcentral and NicoFX. The regulated company has already paid €290,000 as a part of the settlement for possible violation of regulations.

    WikiFX
    2022-07-29 13:52
    WIKIFX REPORT: CySEC Settles with eXcentral and NicoFX Operator for €290K

    NewsWIKIFX REPORT: CySEC reaches EUR 290,000 settlement with NicoFX and Excentral owner

    The Cyprus Securities and Exchange Commission (CySEC) today announced a EUR 290,000 settlement with Cyprus investment firm (CIF) Mount Nico Corp Ltd. The company operates through brands such as NicoFX and Excentral.

    WikiFX
    2022-07-29 13:51
    WIKIFX REPORT: CySEC reaches EUR 290,000 settlement with NicoFX and Excentral owner

    NewsWIKIFX REPORT: eXcentral Blog Rated Among Top Financial Blogs by Readers

    According to a recent survey conducted amongst regular readers of eXcentral's blog, a large majority refer to it as one of the top sources for daily financial information and news. The survey, reaching thousands of readers with different demographic and geographic backgrounds, provides positive findings for the brand and its blog.

    WikiFX
    2022-07-29 13:49
    WIKIFX REPORT: eXcentral Blog Rated Among Top Financial Blogs by Readers

    NewseXcentral Review 2021 - Login & Start Trading Online

    eXcentral EU is an international broker offering instruments on its web trader and MT4. See our review for withdrawals, demo accounts & more.

    WikiFX
    2021-12-16 13:30
    eXcentral Review 2021 - Login & Start Trading Online
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    User Reviews

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    User comment

    5

    Comments

    Write a review

    FX1247126402
    more than one year
    When I wanted to trade with eXcentral, I came to wikifx to check and was surprised to find that many people have been scammed. I think the actual victims will be more. Thanks for the info and I will stay away from this scammer.
    When I wanted to trade with eXcentral, I came to wikifx to check and was surprised to find that many people have been scammed. I think the actual victims will be more. Thanks for the info and I will stay away from this scammer.
    Translate to English
    2023-02-20 15:37
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    FX1230998294
    more than one year
    eXcentral company is a big cheater. ...never ever.......put your money... you can not win you cannot take your money never ever .....Cheat ....liar and use your money...
    eXcentral company is a big cheater. ...never ever.......put your money... you can not win you cannot take your money never ever .....Cheat ....liar and use your money...
    Translate to English
    2023-02-16 11:50
    Reply
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