eXcentral Review

eXcentral is a regulated broker that offers competitive online brokerage services. They have over 160 forex and CFDs available for trading on its proprietary web trading platform as well as on the ever-popular MT4 trading platform for desktop, web and mobile devices. eXcentral also provides traders with educational resources, market news and analysis, trading signals and a host of other trading products and services.

Pros / Cons
  • Regulated brokerage firm
  • Choice of two platforms; MT4 & eXcentral’s proprietary platform
  • Comprehensive training academy
  • Market news & daily analysis
  • Trading e-Books
  • Interactive Courses
  • Trading signal service
  • Webinars
  • Inactivity fees
  • Monthly maintenance fee
  • Minimum trading capital of $250
  • No Islamic accounts
  • Residents of UK, USA, Canada, Japan, Australia & Israel are not allowed to register

In this detailed eXcentral review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

eXcentral Overview

eXcentral describes itself as a friendly and supportive trading broker and it has lived up to that assertion. Founded in Cyprus in 2017, the broker has gradually expanded out of Europe with its international arm anchored from South Africa. eXcentral believes in training before trading, so, it provides various training resources to assist its clients especially beginner traders.

eXcentral Trading

eXcentral Trading

The broker states that it has no conflict of interest when executing client’s orders. eXcentral EU routes all its client orders to ‘OM BRIDGE (PTY) LTD’ only. It should be noted that ‘OM BRIDGE (PTY) LTD’ is the company that operates the international arm of eXcentral while eXcentral EU is operated by another company but both companies are members of the same Group of Companies. So, we can say the eXcentral is a market maker.

eXcentral Features

eXcentral Features

eXcentral provides up to 4 account types and multiple payment options which includes credit cards, bank transfer and modern e-wallets. Trader educational resources, market analysis and trading signals are available to support traders with their daily trading activities.

eXcentral Regulation

eXcentral International is operated by OM BRIDGE (PTY) LTD; an investment firm, licensed and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa with FSP License Number 48296.

The European arm of eXcentral is operated by Mount Nico Corp Ltd, a Cyprus Investment Firm, authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). The license number is 226/14.

In compliance with the stringent rules of the regulators, clients’ funds are kept in segregated bank accounts. These accounts should not be used by eXcentral for its operations but only to fund client’s trade positions. The accounts must be properly audited and regularly submitted to the regulators.

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eXcentral Countries

eXcentral does not offer its services within the UK, USA, Canada, Japan, Australia, Israel and certain EU member states.

Some eXcentral broker features and products mentioned within this eXcentral review may not be available to traders from specific countries due to legal restrictions.

eXcentral Platforms

You can choose between the eXcentral trading platform, or the versatile MT4. Trade with tight spreads, two instant execution modes, and four order types. Use your favourite tools from a platform of your choosing! Trade on multiple markets, whenever from wherever, on desktop or mobile, with an internet connection.

eXcentral Platforms

eXcentral Platforms

Web Trading Platform

This is a proprietary trading platform built by eXcentral for trading all the available trading instruments. It is web-based, so does not require any downloads or installations. The platform presents an intuitive interface with multi-view options.

Here are some of the eXcentral web platform features:

  • Runs on any device that has a web browser. No restrictions on operating systems.
  • Powerful charting package powered by ‘TradingView’.
  • Integrates account management options which includes account deposits, demo account, account verification, etc.
  • Features up to 7 chart styles displayable over 9 timeframes.
  • Over 100 technical indicators.
  • Supports one-click trading.
eXcentral Web Trading Platform

eXcentral Web Trading Platform

MetaTrader 4 (MT4)

The MT4 platform has established itself as an industry standard in the field of online forex and CFD trading. It is a renowned trading platform used all over the world, primarily because of its intuitive interface, exhaustive features and capabilities. eXcentral offers the MT4 platform as a desktop application and mobile apps developed for iOS and Android devices.

Here are some features of the MT4 platform:

  • Real time bid/ask price quotes via the market watch window.
  • It displays live charts of all trading instruments on up to 9 timeframes and 3 chart types.
  • Its features can be expanded using plugin apps built with the MQL4 programming language.
  • It has 3 order execution modes and 4 pending order types.
  • Supports automated trading using software robots known as Expert Advisors (EAs).
  • Comes preloaded with 30 technical indicators but can be expanded to thousands through plugin apps.
  • Support price alert notifications via email, SMS and platform pop-ups
eXcentral MT4 Trading Platform

eXcentral MT4 Trading Platform

eXcentral Mobile Trader

This is the proprietary mobile trading app from eXcentral which supports trading on the go. It is developed for Android and iOS devices and can be downloaded from the respective app stores free of charge. The app is user friendly, fast and loaded with tools for online trading and market analysis.

Here are some of eXcentral mobile trading app features:

  • Real-time quotes on all instruments.
  • Instant market executions on all orders.
  • Complete transaction history.
  • Full charting and technical analysis tools.
eXcentral Mobile Trader

eXcentral Mobile Trader

eXcentral Trading Tools

You can take on Technical Analysis with all the necessary tools, from charts – with various lines and indicators, fundamental analysis, trading calculators, trailing stops and much more.

Market Summary

This section features trading signals on selected currency pairs, stocks, indices and commodities. The signals are divided into daily, weekly and monthly signals. You can directly link to the trading platform from the ‘trade’ button.

Live Market Summary

This section features live trading signals on selected trading instruments.

Daily Chart Analysis

This is daily video analysis presented by the brokers in-house analysts. The presentation analyzes the charts of selected instruments to give traders insights and trading ideas.

Market News

This comprises of daily market news on a wide range of trading instruments. It is powered by MTE Media; a leading financial education provider that also supply trading signals and market research tools.

Economic Calendar

This all important fundamental analysis tool is provided on eXcentral’s website. The calendar shows the dates and the estimated impact levels of economic activities in different countries. Clicking on any event brings up its detailed analysis and forecasts. The ‘trade’ button on the calendar links to the trading platform, so that the trade can be placed immediately.

eXcentral Economic Calendar

eXcentral Economic Calendar

eXcentral Education

Interactive Courses

This consists of 10 video lessons on different trading strategies which are all based on technical analysis methods. The videos are clear and precise. It is only accessible to the brokers registered clients.

eXcentral Interactive Courses

eXcentral Interactive Courses

Trading eBooks

This section contains 4 eBooks that focus on forex/CFD trading, trading psychology and crypto CFDs. The books are concise, well illustrated and short; less than 20 pages each.

eXcentral Trading eBooks

eXcentral Trading eBooks

eXcentral Media Centre

This section contains about 45 video lessons grouped into social trading, MetaTrader, CFDs and stocks, Forex and trading tools. Each video is short and fully animated with high quality audio.

eXcentral Broker Education

eXcentral Broker Education

Webinars

Trading webinars are scheduled almost every week. The webinars are facilitated by Michalis; eXcentral’s in-house market analyst.

eXcentral Webinars

eXcentral Webinars

eXcentral’s Blog

This blog is updated almost every day. It contains daily market news, analysis and opinions.

eXcentral Broker Blog

eXcentral Broker Blog

eXcentral Instruments

eXcentral currently offers the following instruments for trading on its platforms, keeping in mind that they are always adding new trading instruments:

  • 49 forex currency pairs
  • 32 indices
  • 15 commodities
  • 56 stock CFDs
  • 3 cryptocurrencies

You can trade over 120 assets, from 5 different classes. Choose between the likes of Netflix, Tesla or trending medicinal cannabis shares; commodities as Gold or Oil, cryptos like Bitcoin or Ethereum; most popular Forex pairs or globally acclaimed Indices, such as the DAX or NIKKEI. And you can also choose the leverage, based on your risk appetite, and account categorization.

eXcentral Accounts & Fees

eXcentral combine competitive trading conditions with innovative features, to bring you a series of trading accounts that are meant to compliment all the stages of your training. From various spreads, or risk levels (leverage), to various trading amounts, or training levels, you have the power to choose the optimal criteria for your desired trading experience.

eXcentral account types are broadly divided into retail and professional accounts, with different spreads offered on each. Professional accounts are for highly experienced traders with a large portfolio or trading capital whilst retail accounts are for anyone who wishes to partake in forex trading online.

The major difference between the two account groups is the leverage. For EU retail clients, the leverage is capped at 1:30 while professional account holders and non-EU clients get a maximum leverage of 1:400.

The following account types are available for both retail and professional clients:

Classic Account

The benchmark EURUSD spread starts from 2.5 pips.

Silver Account

Education webinars are available to account holders. Spreads start from 2.5 pips.

Gold Account

The EURUSD spread starts from 1.8 pips and clients are eligible for VIP webinars and dedicated account managers.

VIP Account

EURUSD spread starts from 0.9 pips and account holders are assigned dedicated senior account managers.

Professional Account

To qualify as a professional client requires meeting 2 out of the 3 following guidelines, 1) Have a portfolio of greater than $500k (not including property or cash) 2) Have a verified history of placing significant sized positions (down to broker discretion) 3) Have worked in the capacity of a professional position related to derivatives / speculation / trading. Match any two of these requirements to qualify as a professional client.

It is important to note that negative balance protection, Investor Compensation Fund and recourse to the Financial Ombudsman Service is removed should you qualify for a professional account as you are then classified as professional trader under ESMA regulation.

Demo Accounts

Demo accounts are automatically created upon registration. It is incorporated in the web trading platform and it is preloaded with $100,000 in virtual trading funds.

eXcentral Broker Account Types

eXcentral Broker Account Types

A monthly inactivity fee of $80 is charged from dormant accounts after two months. Every month, a maintenance fee of $10 is charged from every account irrespective of trading activities.

As broker fees can vary and change, there may be additional fees that are not listed in this eXcentral review. It is imperative to ensure that you check and understand all of the latest information before you open an eXcentral broker account for online trading.

eXcentral Support

Once you register a new account with eXcentral, you are assigned an account manager who helps you get started. To reach the client support desk, you can call them via telephone, send an email or chat with them using the instant web chat feature on the website. You can also request a ‘call back’ by filling the form which is available on the website. On social media, eXcentral is on Facebook, YouTube, Twitter and Instagram.

eXcentral Deposit & Withdrawal

Deposits can only be completed if the same name that appears on the trading account matches the name on the payment source. Before requesting for withdrawals, the trading account must be completely verified. The minimum deposit is $250/€250/£250.

The following are the payment options currently accepted by the broker:

Bank Transfer

This method is the slowest as it takes 3-5 working days to complete the process. There is no limit or restriction to bank transfers. Withdrawals fees of $30/€30/£30 apply; depending on account currency.

Debit/Credit Cards

Card payments are processed instantly. The major credit and debit cards are accepted. Payments are capped at $40,000 per month. For withdrawals, a commission of 3.5% is charged.

e-wallets

The e-wallets accepted are Skrill and Neteller. The minimum deposit is $250 while there is no maximum. Payments are processed instantly. Commissions of 3.5% and 2% are charged on Neteller and Skrill withdrawals respectively.

eXcentral Payment Methods

eXcentral Payment Methods

Some fees may be charged when using certain payment methods. Withdrawal requests are processed within the same day or next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.

Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries. eXcentral strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your eXcentral trading account.

eXcentral: Account Opening

If you want to create a new account, visit the relevant eXcentral website and click on ‘Sign up’ to display the form below.

eXcentral Broker Account Opening Form

eXcentral Broker Account Opening Form

Enter your name, country, phone number, email, account currency, choose a password and then click on ‘sign up’. Immediately, your account is created you are directed to the payment page. You can also visit the trading room, where you are logged onto the trading platform.

It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.

eXcentral FAQ

What is the eXcentral minimum deposit?

The eXcentral minimum deposit is 250 (GBP, USD, EUR). You can register without depositing funds, although you only need to make a deposit in order to start trading. You can make a deposit in one of the following currencies: EUR, USD, GBP.

How do I deposit money into eXcentral?

Deposits can be placed by logging in and following the instructions in the deposit page in the Client Area. You can make a deposit via bank transfer, credit/debit card, Neteller or Skrill.

What are the eXcentral deposit fees?

eXcentral do not charge any deposit fees to clients.

How do I withdraw money from eXcentral?

Withdrawal requests can be placed by logging in and following the instructions in the withdrawal page in the Client Area.

The withdrawal method you choose has to match the deposit method you’ve used. For example, if you used Skrill to deposit, you can only use Skrill to withdraw.

The minimum withdrawal amount from your eXcentral account is 10 EUR / USD / GBP for Credit Card, and 100 EUR/ USD / GBP for Wire Transfer. If you’re using e-wallets, you can withdraw any amount.

If you are using credit card and your withdrawal amount exceeds the amount you deposited, you will receive the original amount back on your credit card and the rest of the amount will be transferred to you via wire transfer.

You can cancel a withdrawal if the transfer hasn’t been processed yet. Your funds will then be returned to your trading account.

What are the eXcentral withdrawal fees?

For withdrawals, eXcentral charge the following fees:

  • Credit/debit card: 3.5%
  • Wire Transfer: 20 USD / EUR / GBP
  • Neteller: 3.5%
  • Skrill: 2%

What is the eXcentral commission fee?

eXcentral commissions are included in the spread, excluding equities and cryptocurrencies, which are charged at 0.8% of the asset’s notional value.

For commodities and indices there is a fixed swap fee for keeping the position open overnight. Swap is the interest added or deducted from the value of your position and is only charged when a position is held open overnight.

Although there is no rollover on Saturdays and Sundays when the markets are closed, banks still calculate interest on any position held over the weekend. To level this time gap, eXcentral applies a 3-day rollover strategy on Wednesdays.

Are there any eXcentral inactivity fees?

Yes, eXcentral do charge an inactivity fee of 90 USD / EUR / GBP if you do not use your account for over 1 month. There is also a 10 USD / EUR / GBP maintenance fee charged each month, regardless if there are transactions (deposits, withdrawals, or newly opened positions) on your trading account or not.

What are the eXcentral account types?

eXcentral have an account to suit different types of trader. You can choose between 4 account types, the Classic, Silver, Gold and VIP. The main differences between each of the account types are the spreads and additional features included.

Is there an eXcentral demo account?

Yes, eXcentral do offer demo accounts. These are available free of charge and come preloaded with virtual funds so that you can practice trading online risk free.

What are the eXcentral spreads?

eXcentral spreads start from 2.5 on the classic and silver accounts, 1.8 on the gold account and 0.9 on the VIP account. Although these are not the lowest spreads we have seen, it is worth considering that there is no commission charged as it is already accounted for in the spread mark-up.

The spread is the difference between the bid(sell) and ask (buy) price. The difference is presented in pips and reflect the cost of opening a position. This is a standard fee that you will pay a broker when placing trades on certain instruments.

What is the eXcentral leverage?

eXcentral provides retail clients with leverage up to 1:30 whilst those of you who qualify as professional traders can request increased leverage of up to 1 :400

Leverage essentially allows a trader to enter a larger position size. This can increase both potential profit and potential loss of a position. It is therefore imperative to have a clear understanding of leverage before you consider using it.

Leverage is expressed as a ratio, for example if your leverage is 1:30, this means that you can hold a position that is the 30 times the value of your trading account. E.g. If your account had a balance of $1000, you could take a position size of $30,000.

What are the eXcentral margin & stop-out levels?

The margin level determines the deposit that is required to keep open positions. To open and hold positions, a trader must have sufficient funds to secure it. Free margin determines the capital that remains on the account to open subsequent positions, and to cover the changes in the balance resulting from price movements from already opened positions.

A stop out is an automatic closure of a position at the current market rate. A stop out occurs when the margin requirement has been exceeded and the account balance is no longer sufficient to sustain all the opened positions. eXcentral have the following Margin call/ Stop-out Levels: 100% / 50%.

To avoid a margin call you should check your account’s balance at all times and make sure you have the required funds in your account so that you can maintain your open positions.

Do eXcentral allow hedging, scalping & expert advisors?

Yes, eXcentral do not have any restrictions on trading strategies that do not breach their terms and conditions, including scalping, hedging and automated trading with expert advisors (EAs).

Is there an eXcentral Islamic account?

No, unfortunately eXcentral does not provide an Islamic Account for Muslim traders at this time.

What are the eXcentral trading instruments?

With eXcentral, you can trade CFDs, Forex, Commodities, Stocks, Indices and Cryptocurrencies.

How do I open an eXcentral live account?

If you would like to open an account with eXcentral, you just need to complete and submit the short application form on the eXcentral website.

How do I verify my eXcentral account?

At eXcentral, they request for the following verification documents, issued on the name of the account holder. You have 15 days to verify your account. If your account is not verified after 15 days, they will close your account and refund the available balance.

  • Proof of ID – Identification Document, this could either be your passport or ID card (both sides need to be visible) and your driver’s license.
  • Proof of residence – Send the following documents to confirm your country of residence, issued within the last 6 months: Bank or credit card statement and a billing statement such as internet, electricity, council tax, water, gas, telephone bill or any other Government issued documents.
  • Verify your payment method by sending a picture of your payment card covering the CVV on the back and the first 12 digits of your credit card number on the front.
  • E-wallet (Skrill, Neteller) – A screenshot of such e-wallet showing your name, email, e-wallet ID also needs to be sent.

What is the eXcentral trading platform?

eXcentral offer their own proletary platform and the popular MetaTrader 4 platform. You can choose between desktop, web based and mobile platforms. The platforms are user-friendly and have plenty of features to ensure a smooth trading experience, regardless of your experience level.

Where can I download the eXcentral platform?

You can download the eXcentral platforms free of charge from the brokers website or from the app stores on your mobile device.

Where is eXcentral located?

Founded in 2017, eXcentral is a trading broker that is located in Cyprus.

Is eXcentral regulated?

Yes, eXcentral is fully licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).

What countries do eXcentral accept?

eXcentral welcomes all clients but does not offer its services within the UK, USA, Canada, Japan, Australia, Israel and certain EU member states.

Is eXcentral a scam?

No, eXcentral is not a scam. They are a regulated trading broker that has been providing an online brokerage service since 2017.

How can I contact eXcentral support?

You can contact eXcentral customer support via email, live chat, telephone and various social media channels.

eXcentral Summary

eXcentral is a regulated broker that provides a vast range of educational materials and trading tools which help show they support informed trading in the very competitive brokerage industry. The broker offers frequent webinars, a comprehensive training suite, market news and analysis.

The proprietary eXcentral web trading platform is intuitive, fast and has adequate charting tools. The MT4 trading platform has become an industry standard primarily due to its ease of use, wide range of trading tools, functionality and versatility. The broker also has a decent selection of trading instruments across multiple asset classes.

However, there are monthly maintenance fees, inactivity fees and high withdrawal fees. The broker could also benefit by expanding the available payment options to allow cryptocurrencies and by adding an Islamic swap-free account option for Muslim traders.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.81% 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.

eXcentral Logo

Min $250 Deposit

eXcentral is a regulated broker that offers over 160 Forex & CFDs for trading on its proprietary web trading platform & MetaTrader 4 (MT4). The broker also offers educational services, market news & analysis along with trading signals.