What is Euzentrum?
Euzentrum is a forex broker established in 2023, mainly providing trading services for financial products such as forex, stocks, indices, and cryptocurrencies. The broker offers three types of trading accounts: FIXED, CLASSIC, and RAW, with a maximum leverage of 1:300. To find out if Euzentrum is a safe and legal broker, you can read this review article for more details.
Euzentrum's Corporate Background:
Euzentrum is a newly established Japanese forex broker headquartered in the Comoros. The broker's corporate entity is Euzentrum Ltd, with registration number HY00623400, located at Bonovo Road, Fomboni, Island of Mohéli, Comoros Union. Investors should note that Euzentrum's official domain was registered on October 5, 2023, making it less than a year old and relatively new. The broker's business area is limited and does not provide services to Afghanistan, Russia, Laos, Pakistan, Panama, Sudan, Ukraine, China, among others.
Is Euzentrum a Legally Regulated Forex Broker?
Euzentrum is currently an unregulated forex broker.
Despite Euzentrum's claim of being regulated by the Mwali International Services Authority (MISA) of the Comoros Islands, holding a regulatory license number T2023292, the Comoros Islands do not have strict forex controls. This grants forex brokers entry rights into the international financial market and allows for free capital transfers without cumbersome regulatory restrictions.
The effectiveness of the Comoros Islands regulatory authority in the forex market is in doubt, and most forex startups typically choose to obtain forex licenses from regulatory bodies on the islands of Mohéli and Anjouan. Given this, investors should carefully consider their decision to cooperate with Euzentrum.
What Trading Products Does Euzentrum Offer?
As a forex broker, Euzentrum offers various trading products and services, including forex, stocks, indices, and cryptocurrencies. Here are the specific introductions to these trading products:
Forex Trading:
Euzentrum provides forex trading services, covering major global currency pairs and some minor ones. The platform's forex trading spread starts at 0.1 pips, with a maximum leverage of 1:300.
Stock Trading:
Euzentrum offers stock trading services, covering stocks in major global stock markets. Stock trading allows investors to participate in the stock market in a manner that aligns with their investment strategies, enjoying the profit opportunities of market fluctuations.
Index Trading:
Euzentrum provides trading services for various major indices, such as the S&P 500 index, Dow Jones Industrial Average, etc. Index trading allows investors to profit by trading the entire market, thus diversifying risk and enjoying market profit opportunities. The platform's index trading spread is also as low as 0.1 pips, with a maximum leverage of 1:300.
Cryptocurrency Trading:
Euzentrum also offers cryptocurrency trading services, including major cryptocurrencies like Bitcoin, Ethereum, Litecoin. The platform's cryptocurrency trading has a maximum leverage of 1:20, requiring a 5% margin.
What Types of Accounts Does Euzentrum Offer?
Euzentrum provides three types of real trading accounts to its clients, the main account types include FIXED, CLASSIC, and RAW accounts. The platform does not support the creation of demo accounts.
FIXED Account
The FIXED account uses a fixed spread model, with a starting spread of 1.5 PIPS and no commission. This account type is suitable for investors who wish to more accurately estimate costs during the trading process to better plan their trading strategies.
CLASSIC Account
The CLASSIC account uses a floating spread model, with a starting spread of 1.2 PIPS, also without commission. This account type is suitable for traders who are more flexible and can adapt to market fluctuations, wishing to enjoy competitive trading conditions under various market conditions.
RAW Account
The RAW account employs a raw spread model, with a starting spread of 0.1 PIPS, but charges an additional $4 commission per round of trading. This account type is suitable for professional traders seeking lower spreads and faster execution speeds, willing to pay extra commissions for superior trading conditions.
What Trading Software Does Euzentrum Offer?
Euzentrum does not provide commonly used trading software like MT4 or MT5, nor has it provided detailed information about its trading software, leaving investors in the dark about the characteristics and functions of its trading platform.
When discussing the trading software provided by Euzentrum, several issues can be observed:
- Lack of Common Trading Software: Euzentrum does not provide widely used trading software like MT4 or MT5. This could inconvenience many investors accustomed to these platforms’ rich features and tools.
- Lack of Transparency: Euzentrum has not provided detailed information about its trading software, preventing investors from understanding its platform's characteristics, functions, and performance, thus reducing their trust.
- Unclear Functionality: The absence of detailed information about the software's features may prevent investors from knowing if it meets their needs, hindering the full use of tools offered by the trading platform.
- Risk Management Issues: The functionality and tools of trading software are crucial for investors to manage their trading risks effectively. Due to the lack of knowledge about the software, investors may find managing their trading risk challenging, increasing the risk of investment.
In summary, Euzentrum's limited and opaque trading software options could negatively impact investors, restricting their choices and risk management capabilities during trading.
How to Open an Account with Euzentrum?
Euzentrum supports the opening of real accounts, allowing investors to trade in a real market environment, but does not offer a demo account option. To open a real account with Euzentrum, investors need to visit the company's official website, find and click on the “Open Live Account” button, complete the registration form, and provide personal information and identity verification documents. Although Euzentrum supports the opening of real accounts, investors currently cannot complete the account opening process on the Euzentrum official website due to technical issues or other reasons.
Euzentrum's Spreads and Commissions:
The minimum starting spreads for forex and index trading are both 0.1 pips, while the maximum leverage is 1:300. For cryptocurrency trading, the maximum leverage is 1:20. Regarding account types, the FIXED account adopts a fixed spread model with a starting spread of 1.5 PIPS and no commission; the CLASSIC account employs a floating spread model with a starting spread of 1.2 PIPS and no commission; while the RAW account uses a raw spread model with a starting spread of 0.1 PIPS but charges an additional $4 commission per trade.
What is Euzentrum's Maximum Leverage?
The broker offers different maximum leverage ratios for its trading products. For forex and index trading, the broker's maximum leverage ratio is 1:300. For stock and cryptocurrency trading, the maximum leverage is 1:20.
What Are the Reviews on Euzentrum?
According to the reviews on Euzentrum found online, the broker is suspected of fraudulent activities. Its registration in the Comoros Islands raises concerns about its legitimacy. The lack of deposit methods mentioned on the website and the unclear identity of the recipient of funds are considered typical signs of fraud. Additionally, Euzentrum is not formally regulated and lacks trading software, which may affect the efficiency and reliability of trading, increasing investors' risks. Euzentrum's reputation and stability are not well established or are relatively new within the forex trading community, indicating a lack of trust from investors. Therefore, investors should be cautious when trading with this broker.
Conclusion:
Euzentrum is a newly established Japanese brokerage firm offering trading services for financial derivatives such as forex, stocks, indices, and cryptocurrencies. Euzentrum does not provide trading software, has a maximum leverage ratio of 1:300, but the minimum deposit amount has not been disclosed. Additionally, Euzentrum is not a regulated brokerage firm; therefore, investors should carefully consider trading on this platform.
Currently, Euzentrum is marked as "Suspected of Fraud" on TraderKnows.
