eXcentral Review – Is eXcentral a multi-asset broker?
| broker | eXcentral |
|---|---|
| Website URL | https://eu.excentral.com |
| Founded | 2019 |
| Headquarters | Agiou Athanasiou, 66 TOUMAZIS LINOPETRA BUILDING 4102, Limassol, Cyprus |
| Support Number | +357 24 024022 |
| Support Types | Email, Chat, Phone |
| languages | 11 languages supported |
| Trading Platform | eXcentral MT4, eXcentral WebTrader, Android and iOS apps |
| Minimum 1st Deposit | 250 |
| Minimum Account Size | 250 |
| Maximum Trade Amount | No limit |
| Bonus | No deposit bonus |
| Leverage Forex | Up to 1:30 for Retail and 1:400 for Professional |
| Leverage Indices | Up to 1:20 for Retail and 1:200 for Professional |
| Leverage Commodities | Up to 1:20 for Retail and 1:200 for Professional |
| Leverage Shares | Up to 1:5 for both Retail and Professional |
| Leverage Crypto | Up to 1:2 for Retail and 1:5 for Professional |
| Spread | Variable |
| Free Demo Account | Yes |
| Regulated | Authorized and regulated by the Cyprus Securities and Exchange Commission with CIF license number 226/14. |
| Account Types | Classic, Silver, Gold, VIP |
| Deposit Methods | Credit/debit card (Visa/Mastercard), wire transfer, Skrill, Neteller |
| Withdrawal Methods | Credit/debit card (Visa/Mastercard), wire transfer, Skrill, Neteller |
| Number of Assets | 160+ |
| Types of Assets | Forex, indices, commodities, shares, cryptocurrencies |
| US Traders Allowed | No |
| Mobile Trading | Yes |
| Tablet Trading | Yes |
| Overall Score | 96 |
Introduction
Founded in 2019, the multi-asset broker eXcentral is owned and operated by Mount Nico Corp Ltd., a Cyprus Investment Firm, currently authorized and regulated by the Cyprus Securities and Exchange Commission. There are multiple reasons why many retail CFD traders have already joined the ranks of eXcentral, among these reasons are the proprietary WebTrader, the attractive trading costs, the multiple account types, and the professional customer support.
The services provided are intended for individuals in certain countries of the European Economic Area (EEA) since eXcentral is compliant with all the latest regulations for CFD trading. The company does not offer trading services to clients residing in the Netherlands, and other jurisdictions such as the USA and Canada.
Pros
- A diversified list of CFD instruments available
- Professional customer support services
- Advanced WebTrader with multiple personalized features
- Brand regulated by CySEC
Cons
- Customer support not available on Saturday
- Some less popular instruments carry wider spreads
Products
Diversity is a key goal for eXcentral and because of that, the brand currently offers access to 160+ CFD assets, including forex, indices, commodities, shares, and cryptocurrencies. For traders who want to get involved in the FX markets, the broker has assembled a list of 40+ currency pairs, available with 1:30 (retail) or up to 1:400 (professional) leverage.
Thirteen different indice CFDs, including DAX30, FTSE100, S&P500, Nasdaq, and VIX, are part of the offer, with leverages ranging between 1:10 and 1:200.
The growing interest in commodity trading witnessed in 2021 is attributed to rising hopes for inflation later on this year. With eXcentral, traders have access to 19 CFDs based on precious metals (gold, silver, platinum, etc.) industrials commodities (copper, palladium, etc.), agricultural commodities (coffee, cocoa, cotton, soybeans, etc.), and energy (crude oil, natural gas, Brent oil, etc.).
For traders who want to get involved in companies like Apple, Boeing, Citigroup, Amazon, Facebook, or Tesla Motors, it is possible to trade a wide range of share CFDs when opening an account with eXcentral.
Lastly, the brand is aware that cryptocurrency trading is on the rise and thus, enables access to CFDs based on BCHUSD, BTCUSD, ETHUSD, LTCUSD, and XRPUSD.
Fees and Charges
All instruments covered by eXcentral are CFDs and the main trading costs associated are spreads and overnight swaps. There are no commissions attached to any of the instruments. For withdrawals, fees apply depending on the payment method used.
Additionally, there is an inactivity fee charged once there are no transactions on a trading account for a period of at least one month. No deposit fees or financing fees are currently charged by eXcentral.
Trading Platforms
The MetaTrader 4 version provided by eXcentral is a trading platform with 15+ years of reputable performance, integrating multiple benefits such as interactive charts, numerous built-in technical indicators, EA compatibility, and a friendly user interface.
eXcentral WebTrader, on the other hand, is a proprietary solution, designed to ensure flexibility and fast execution, directly via the browser, with no installation required. The broker believes this is a client-centric platform since you can take advantage of multi-view options and risk management tools, as well as trading apps for Android or iOS devices.
Security and Reliability
Security is a top priority for eXcentral, which is why the broker relies on some of the latest trading technologies. Also, since trading CFDs does not involve holding the underlying instruments, rather taking advantage of price movements, traders can buy or sell, without any restrictions or worries about custody issues.
eXcentral is a reliable multi-asset broker not only because it is authorized and regulated by CySEC, but also because its services are transparent and based on common-sense policies. Any individual interested in their services can visit eu.excentral.com and find out more information.
Customer Support
The broker relies on a team of personal assistants available from Monday to Friday via live chat, phone, and email. On top of that, traders can request a callback and get in touch with a representative in due time. eXcentral is active on multiple social media accounts, including Facebook, Instagram, YouTube, and Twitter.
Deposits and Withdrawals
Traders can choose the best funding method for them out of a list including credit/debit cards, wire transfers, Skrill, and Neteller. The currencies accepted are USD, EUR, and GBP. eXcentral is an affordable multi-asset broker because the minimum deposit, regardless of the method used, is 250 units.
Keep in mind there are maximum deposit limits for daily and monthly periods. Also, several withdrawal requirements must be met, as is stated on the broker’s website. The account must be verified (by submitting several identification documents), and the withdrawal method needs to match the one used for deposit.
Conclusion
There are enough reasons to believe eXcentral really is a multi-asset brokerage, given the diversity of trading services currently part of its offer. The broker works on behalf of retail CFD traders with different objectives. Beginners, intermediates, and advanced traders are welcome to join eXcentral, a place where they can find a regulated infrastructure, multiple asset classes, advanced software, and a customer-friendly approach. Increased volatility in the financial markets has created proper conditions for those trading with reliable providers such as eXcentral.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please read our Risk Disclosure document.