CentFX is a forex broker registered in Anguilla in 2022, with its headquarters located in The Valley. The broker mainly provides trading services for financial derivatives such as forex, indices, precious metals, and cryptocurrencies. The broker is under strict regulatory supervision.
Company Background
CentFX is a broker providing forex trading services. The company is registered as CentFX Limited, with registration number A000000971, headquartered in Anguilla, and its registered address is Anguilla, No. 8 Cassius Webster Building, Grace Complex, The Valley, 1330. According to Whois information, the domain for CentFX's official website was registered on November 29, 2019.
Regulatory Information
According to the CentFX official website, the company is a licensed forex broker, with entity CentFX Limited being authorized and regulated by the Financial Services Commission (FSC) of Mauritius, holding license number GB23201644.
However, information suggests that CentFX Limited is not authorized or regulated by the Financial Services Commission (FSC) of Mauritius. Thus, it appears that CentFX's official website may be falsely claiming regulatory information.
Trading Products
CentFX offers a variety of trading products, including forex, indices, precious metals, and cryptocurrencies.
- Forex Trading: CentFX allows investors to engage in the forex market, providing opportunities to trade various currency pairs. Investors can trade based on price fluctuations of one currency against another.
- Indices Trading: CentFX enables investors to trade based on the price movements of specific financial indices. These indices include stock indices, commodity indices, bond indices, among others, allowing investors to participate in the market by trading these indices.
- Precious Metals Trading: CentFX provides investors with trading opportunities in the precious metals market. The global market for precious metals includes gold, silver, etc., and investors can participate by trading these metals.
- Cryptocurrency Trading: CentFX offers trading of any form of currency that exists digitally or virtually and uses cryptography to secure transactions, including cryptocurrencies like Bitcoin, Litecoin, etc., allowing investors to participate in the market by trading these cryptocurrencies.
Trading Software
CentFX provides investors with the renowned MetaTrader 5 trading platform in the forex market. This platform offers various trading indicators, Expert Advisors for automated trading, and extensive charting tools, enhancing features with more technical indicators, a broader range of order types, and a more advanced built-in economic calendar.
CentFX offers the MT5 trading platform for Windows, Android, iPhone, and Mac, catering to traders’ needs with a variety of platform options.
However, caution is advised regarding the download links for the MetaTrader 5 platform provided on CentFX's official website, and traders should exercise vigilance when downloading.
Account Registration
CentFX's official website provides a link for live account registration. The specific registration method is as follows:
First, open the CentFX website and click "Register" at the top right corner of the homepage.
Fill in the information step by step to complete the account registration.
Account Types
CentFX offers four different types of trading accounts: Micro, Standard, ECN, and Customize.
- Micro: Spreads start from 1.5 pips, with a minimum deposit of $10, maximum leverage of 1:1000, and a minimum transaction size of 0.01 lots.
- Standard: Spreads start from 1.2 pips, with a minimum deposit of $500, maximum leverage of 1:800, and a minimum transaction size of 0.01 lots.
- ECN: Spreads start from 0.0 pips, with a minimum deposit of $5000, maximum leverage of 1:200, and a minimum transaction size of 0.10 lots.
- Customize: Spreads start from 0.0 pips, with a minimum deposit of $10,000, maximum leverage up to 1:1000, and a minimum transaction size of 1.0 lot.
All four account types support currency conversion methods for EUR, AUD, GBP, NZD, CAD, CHF, JPY against USD. There are no deposit fees, withdrawal fees are up to 2.5%, and there are no commissions. Islamic swap-free options and a margin call policy of 100% are available.
Deposit and Withdrawal Methods
CentFX also provides various deposit and withdrawal options such as bank transfers, electronic payments, and cryptocurrencies.
For deposits, bank transfers are processed within 15 minutes with no deposit fees. Electronic payments are processed within 15 minutes to 3 days with no deposit fees, except STICPAY which charges a 1% fee. Cryptocurrencies are processed within 15 minutes with no deposit fees.
For withdrawals, bank transfers take up to 3 days and incur a 3% fee. Electronic payments are processed within 15 minutes to 3 days, with STICPAY charging up to 5%, Perfect Money charging 1.5%, and other payment methods charging 2.5%. Cryptocurrency withdrawals take a maximum of 3 days, incurring network fees plus a 2.5% fee.
Customer Support
The broker offers 24/7 multilingual support through multiple channels, including phone support, email support, and online chat. Traders can contact the customer support team at +971 4 331 5944 for direct and immediate assistance. Investors can also send inquiries or requests to support@centfx.com. Additionally, online chat on the CentFX website facilitates rapid communication with the broker.
Conclusion
CentFX is registered in Anguilla. The information gathered suggests that CentFX is not authorized or regulated by the Financial Services Commission (FSC) of Mauritius and may falsely claim regulatory information. CentFX offers various trading products, including forex, indices, precious metals, and cryptocurrencies. Traders are reminded to undergo thorough education, understand market mechanisms, and carefully consider their investment goals and risk tolerance before engaging in high-leverage trading.
Currently, CentFX is marked as a "potential scam" on TraderKnows.
