FXCentrum is a forex broker established in Seychelles on September 19, 2019, primarily offering financial trading services in forex, commodities, stocks, and indices to investors. This broker does not provide services to jurisdictions where it may violate local laws or regulations, including countries such as the United States, Afghanistan, Bosnia and Herzegovina, Crimea, Cuba, Ethiopia, Iran, Myanmar, North Korea, Sudan, Syria, Vanuatu, and Yemen.
The company reserves the right to refuse clients or require additional documents for account activation from clients from the European Union, Russian Federation, and countries listed in the high-risk country list by the Financial Action Task Force (FATF), including Albania, Barbados, Burkina Faso, Cameroon, Cayman Islands, Croatia, Democratic Republic of Congo, Gibraltar, Ghana, Haiti, Israel, Jamaica, Jordan, Laos, Mali, Malta, Morocco, Mozambique, Nicaragua, Nigeria, Pakistan, Panama, Philippines, Senegal, South Africa, Tanzania, Turkey, Uganda, United Arab Emirates, and Vietnam.
Corporate Registration and Regulatory Status:
FXCentrum's corporate entity registered in Seychelles is WTG LTD, with the registered address at House of Francis, Room 302, Ile Du Port, Mahe, Seychelles, and the registration number C8426579. This entity is authorized and regulated by the Financial Services Authority (FSA) of Seychelles, with the license number SD055.
Account Opening:
To open an account with FXCentrum, visit the broker's official website and click on “CREATE AN ACCOUNT” at the top right corner of the homepage. Fill in personal information as required and submit. Once the account information form is submitted, the account is successfully registered. Complete identity verification is required to deposit and trade.
Account Information:
FXCentrum offers demo and real trading accounts to its users. The minimum deposit for a real trading account is $100, with a minimum trade volume of 0.01 lots, spreads starting from 0.3 pips, and a maximum leverage of 1:1000. Hedging is allowed.
Trading Platform:
FXCentrum provides the FXC Trader proprietary trading platform, available in mobile and desktop versions, offering copy trading services to users.
Deposits and Withdrawals:
FXCentrum supports deposits and withdrawals using local banks, cryptocurrencies, credit cards, debit cards, and fasapay. The minimum amount for deposit or withdrawal is $10/€10. There are no fees for deposits, but for withdrawals, the first withdrawal each month is free of charge, the second withdrawal will incur a fee of $10, and any subsequent withdrawals will be charged a fee of 2.50%.
Summary:
Traderknows reminds investors that FXCentrum is under offshore regulation by the Financial Services Authority (FSA) of Seychelles, which is relatively weak in regulatory strength.
Currently, this broker is marked as 'Operational' on Traderknows."
