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Do you want to know which is the better broker between eXcentral and AvaTrade ?
In the table below, you can compare the features of eXcentral , AvaTrade side by side to determine the best fit for your needs.
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--
EURUSD:-0.8
EURUSD:-2
EURUSD:8.56
XAUUSD:25.61
EURUSD: -2.53 ~ 0.34
XAUUSD: -5.56 ~ 2.81
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of excentral, ava-trade lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Aspect | Information |
Company Name | eXcentral |
Registered Country/Area | South Africa |
Founded Year | 2018 |
Regulation | Revoked |
Minimum Deposit | $1,000 |
Market Instruments | Forex,Commodities,Indices |
Account Types | Classic,VIP,Gold |
Leverage | Up to 1:30 |
Spreads&commissions | Spreads:0.06-2.5pip,no commissions |
Trading Platforms | MT4,MT5 platform |
Demo Account | Available |
Customer Support | Email:inquiriesaexcentral-int.com,Phone:+278 71 951005 |
Deposit & Withdrawal | Bank transfer,debit/credit card,third party payment |
eXcentral, founded in 2018 and based in South Africa, is a financial services company that has had its regulation revoked. The firm requires a minimum deposit of $1,000 and offers trading in Forex, commodities, and indices.
eXcentral provides various account types including Classic, VIP, and Gold, catering to different levels of traders. The company offers leverage of up to 1:30 and boasts competitive trading conditions with spreads ranging from 0.06 to 0.1 pip, without charging commissions.
Traders have access to both MT4 and MT5 platforms, popular choices for their robust features and user-friendliness. A demo account is also available for practice trading. Customer support can be reached via email at inquiriesaexcentral-int.com or by phone at +278 71 951005.
For deposits and withdrawals, eXcentral accepts bank transfers, debit/credit cards, and third-party payments. However, the revocation of its regulation takes about its credibility and the safety of client funds.
eXcentral, operating under the licensed institution OM BRIDGE (PTY) LTD, had its regulatory status revoked by the Financial Sector Conduct Authority in South Africa.
The company, which held the license number 48296 since June 6, 2017, was categorized as a Financial Service Corporate. The revocation of its license raises significant concerns regarding its compliance with financial regulatory standards and the overall safety and legitimacy of its operations.
The licensed institution is located at UNIT 6C3, 159 Rivonia Road Sinosteel Plaza, Morningside Ext 39 Sandton, and can be contacted at the phone number 27072 216 2542. However, given the revocation of its regulatory status, caution is advised when considering any engagement with eXcentral.
The reason for the revocation and the current operational status of the company would require further investigation for anyone considering their services.
Pros | Cons |
Diverse Market Instruments | Regulation Revoked |
Multiple Account Types | High Minimum Deposit |
Competitive Spreads | Uncertain Operational Status |
Access to MT4 and MT5 Platforms | Limited Information on Licensed Institution |
Demo Account Availability | Potential Risk to Investors |
Pros:
Diverse Market Instruments: Offers trading in Forex, commodities, and indices, providing a range of options for traders.
Multiple Account Types: Availability of Classic, VIP, and Gold accounts caters to different levels of traders, offering flexibility and tailored trading experiences.
Competitive Spreads: Claims to offer low spreads ranging from 0.06 to 0.1 pip, which can be beneficial for cost-effective trading.
Access to MT4 and MT5 Platforms: Both platforms are well-regarded in the trading community for their advanced features and user-friendly interfaces.
Demo Account Availability: Provides a demo account, allowing new traders to practice and get acquainted with the platforms without financial risk.
Cons:
Regulation Revoked: The revocation of its regulatory status by the Financial Sector Conduct Authority in South Africa is a major red flag, indicating potential issues with compliance and reliability.
High Minimum Deposit: A minimum deposit of $1,000 might be relatively high for beginner traders or those looking to test the waters with smaller investments.
Uncertain Operational Status: The revocation of its license raises questions about the current operational status and the safety of client funds.
Limited Information on Licensed Institution: Lack of detailed information about the licensed institution OM BRIDGE (PTY) LTD, including its website and email address, hinders transparency.
Potential Risk to Investors: Given regulatory concerns, there is a heightened risk for anyone considering investing or trading with eXcentral.
eXcentral offers trading in a range of market instruments, which include:
Forex: This includes a variety of currency pairs, allowing traders to speculate on the changing values of currencies against each other.
Commodities: These typically involve trading in natural resources such as gold, silver, oil, and agricultural products. Commodities trading can be a way to diversify a trading portfolio beyond forex and indices.
Indices: Trading in indices involves speculating on the price movements of index funds, which represent the aggregated performance of a selection of stocks. Indices usually reflect the performance of a particular sector or the broader market.
Classic Trading Account:
The Classic Trading Account at eXcentral is designed for entry-level traders, offering leverage up to 1:30. It features a 2.5 spread on EUR/USD and a $0.10 spread on Crude Oil, catering to those who prefer trading in major forex pairs and commodities.
This account includes negative balance protection, which can be a safety net for traders against going into debt. Additionally, it comes with free trading education, providing resources for beginners to learn and develop their trading skills.
VIP Account:
eXcentral's VIP Account is tailored for more advanced traders, maintaining the same leverage of up to 1:30. It offers narrower spreads, with 0.9 on EUR/USD and $0.06 on Crude Oil, which can be appealing for more frequent or experienced traders.
This account enhances the trading experience with added features like educational webinars, SMS MTE trading signals for timely market insights, and weekly account overviews for a regular summary of trading performance.
The VIP Account is a step up for those seeking more in-depth market analysis and educational support.
Gold Account:
The Gold Account at eXcentral is geared towards serious, committed traders, providing leverage up to 1:30. It offers competitive spreads of 1.8 on EUR/USD and $0.08 on Crude Oil.
Alongside the benefits found in the VIP Account, the Gold Account introduces a monthly account overview for comprehensive performance tracking and the services of a dedicated senior account manager for personalized trading support.
Exclusive one-on-one sessions are a standout feature, offering bespoke guidance and strategy discussion, making this account suitable for those seeking a highly tailored trading experience.
Account Type | Leverage | EUR/USD Spread | Crude Oil Spread |
Classic | Up to 1:30 | 2.5 | $0.10 |
VIP | Up to 1:30 | 0.9 | $0.06 |
Gold | Up to 1:30 | 1.8 | $0.08 |
Opening an account with eXcentral typically involves the following four steps:
Account Selection:
Begin by choosing the type of trading account that best suits your trading needs and experience level. eXcentral offers Classic, VIP, and Gold accounts, each with different features and spreads.
Registration Process:
Complete the registration form on eXcentrals website. This process usually requires providing personal information such as your name, address, contact details, and possibly some financial information to assess your trading experience and risk tolerance.
Verification (KYC Process):
As part of the Know Your Customer (KYC) process, submit the necessary documents for identity verification. This typically includes a government-issued ID (like a passport or drivers license), proof of residence (such as a utility bill or bank statement), and possibly additional financial documents.
Fund Your Account:
Once your account is verified, deposit funds to meet the minimum deposit requirement, which is $1,000 for eXcentral. Choose a suitable deposit method from the options available, such as bank transfer, debit/credit card, or third-party payment methods.
After completing these steps, youll be able to access the trading platform (MT4 or MT5) provided by eXcentral and start trading with the chosen account type.
eXcentral offers leverage of up to 1:30 across its trading accounts, which includes the Classic, VIP, and Gold account types. This level of leverage allows traders to control a larger position with a relatively smaller amount of capital.
For example, with a leverage of 1:30, a trader can hold a position worth up to 30 times their account balance. While this can amplify potential profits, it also significantly increases the risk of losses, especially in volatile market conditions.
Therefore, it's important for traders to use leverage cautiously and understand its implications fully. Leverage is a powerful tool in trading, but it requires a good understanding of risk management to use effectively, particularly for less experienced traders.
eXcentral offers trading conditions with competitive spreads and no commission fees. The specifics of their spreads and commissions are as follows:
Spreads
eXcentral advertises spreads as low as 0.06 to 2.5 pip, which is quite tight and can be beneficial for traders looking to minimize their trading costs.
For example, the spread for EUR/USD ranges from 0.06 pip in the VIP account to 2.5 pips in the Classic account. Similarly, the spread for Crude Oil varies from $0.06 in the VIP account to $0.10 in the Classic account.
Such low spreads are particularly advantageous for high-frequency traders or those who trade large volumes.
Commissions:
The company states that it charges no commissions on trades. This means that traders don't have to pay a separate fee for each trade they execute, which is a cost-effective feature for active traders.
While these trading conditions appear attractive, especially for those looking to keep their trading costs low, it is crucial for traders to consider the overall context of the brokerage, including its regulatory status and reliability.
Account Type | Spread from | Commission ($) |
Raw | 0.2 | 7 |
Real 1.0 | 1.5 | No |
Real 2.0 | 2.5 | No |
eXcentral offers its clients two well-regarded trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
MT4 Platform: MT4 is one of the most popular trading platforms in the forex and CFD trading community. It is known for its user-friendly interface, robust technical analysis tools, a wide array of charting options, and support for automated trading through Expert Advisors (EAs).
MT5 Platform: As the successor to MT4, the MT5 platform offers extended features and capabilities. It supports more types of trading orders and has additional timeframes for analysis. MT5 also provides access to more indicators and analytical tools, along with enhanced charting capabilities.
Both platforms offer mobile versions, allowing traders to manage their accounts and trade from anywhere. The choice between MT4 and MT5 typically depends on the trader's preference, trading style, and the specific instruments they wish to trade.
eXcentral offers various options for deposit and withdrawal, including a specific minimum deposit requirement:
Minimum Deposit: The minimum amount required to open an account with eXcentral is $1,000. This sets a relatively high entry barrier, especially for novice traders or those who prefer to start with a smaller capital investment.
Payment Methods:
Bank Transfer: Allows for direct transfer of funds from a trader's bank account to their trading account. This method is typically secure but may take several days to process.
Debit/Credit Card: Offers a quick and convenient way to deposit funds using widely accepted cards like Visa and MasterCard.
Third-Party Payment: Accepts deposits via various third-party payment systems, which could include digital wallets or online payment services. These methods often provide quick and easy transactions.
eXcentral provides customer support through multiple channels, aiming to assist clients with their queries and issues. Customers can reach out via email at inquiriesaexcentral-int.com, offering a direct line of communication for support, queries, or feedback.
Additionally, they provide phone support at +278 71 951005, which can be beneficial for immediate assistance or for discussing more complex issues. The availability of these support options suggests a commitment to maintaining accessible customer service.
In summary, eXcentral, based in South Africa and founded in 2018, offers Forex, commodities, and indices trading on both the MT4 and MT5 platforms, with account options including Classic, VIP, and Gold. They provide leverage up to 1:30 and competitive spreads with no commission fees.
However, a significant concern is their revoked regulatory status, which poses serious questions about the firm's credibility and the safety of client investments.
While they offer a minimum deposit of $1,000 and multiple channels for customer support, potential clients should approach with caution and thoroughly evaluate the risks due to the regulatory concerns.
Q:What trading platforms does eXcentral offer?
A:eXcentral provides the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms for trading.
Q:What is the minimum deposit required to open an account with eXcentral?
A:The minimum deposit required to open an account with eXcentral is $1,000.
Q:What types of trading accounts does eXcentral offer?
A:eXcentral offers three types of accounts: Classic, VIP, and Gold, each with different features and spreads.
Q:What leverage does eXcentral offer?
A:eXcentral offers leverage up to 1:30 across all its trading accounts.
Q:How can I deposit or withdraw funds from eXcentral?
A:Deposits and withdrawals can be made via bank transfer, debit/credit card, or third-party payment methods.
Q:How can I contact eXcentral's customer support?
A:Customer support can be reached via email at inquiriesaexcentral-int.com or by phone at +278 71 951005.
AvaTrade | Basic Information |
Founded | 2006 |
Headquarters | Dublin, Ireland |
Regulation | ASIC, FSA, FFAJ, ADGM, CBI, FSCA, KNF |
Tradable Assets | Forex, CFD, stock, commodities, indices, futures, cryptocurrencies, options |
Demo Account | ✅ |
Leverage | Up to 1:30 (retail)/1:400 (professional) |
EUR/USD Spread | 0.9 pips |
Trading Platform | AvaTrade Mobile App, WebTrader, AvaSocial, AvaOptions, MT4, MT5, DupliTrade |
Minimum Deposit | $100 |
Payment Method | MasterCard, Visa, PayPal, Skrill, Neteller, Wire Transfer, Perfect Money, Boleto |
Customer Support | 24/7 - live chat, contact form, WhatsApp: +447520644093, phone (vary by the region) |
Educational Resources | Academy, trading for beginners, trading platforms turtorials, economic indicators, trading rules, blog, trading webinars |
Avatrade is an online forex and CFD broker that was established in 2006. The company is headquartered in Dublin, Ireland, and is regulated by several financial authorities around the world, including ASIC, FSA, FFAJ, ADGM, CBI, FSCA, and KNF.
As a market maker broker, Avatrade offers a range of tradable assets including forex, CFD, stock, commodities, indices, futures, cryptocurrencies, and options. The broker provides clients with access to multiple trading platforms, including AvaTrade Mobile App, WebTrader, AvaSocial, AvaOptions, MT4, MT5, and DupliTrade.
Avatrade requires a minimum deposit of $100 to open an account, and clients can choose from a variety of payment methods including MasterCard, Visa, PayPal, Skrill, Neteller, Wire Transfer, Perfect Money, Boleto.
Customer support is available via live chat, phone, email, and a knowledge base. The broker also provides a range of educational resources for traders, including academy, trading for beginners, trading platforms turtorials, economic indicators, trading rules, blog, trading webinars.
Avatrade is regulated by multiple financial regulatory authorities, including the Australian Securities and Investments Commission (ASIC), the Financial Services Authority (FSA), the Financial Futures Association of Japan (FFAJ), the Abu Dhabi Global Market of the United Arab Emirates (ADGM), the Central Bank of Ireland (CBI), the Financial Sector Conduct Authority of South Africa (FSCA), and the Polish Financial Supervision Authority of Poland (KNF). These regulatory bodies ensure that Avatrade operates with transparency, integrity, and in compliance with regulatory requirements.
When it comes to choosing a broker, it's important to carefully consider the pros and cons to determine which one is right for you. Some potential advantages of a broker may include competitive spreads, user-friendly trading platforms, and rich educational resources. Additionally, a regulated broker can provide peace of mind knowing that your funds are protected.
Pros | Cons |
Regulated by reputable financial authorities | Single account option |
Competitive spreads | |
Multiple trading platforms | |
Rich and Free educational resources | |
Access to advanced trading tools and features | |
Low to no slippage during high volatility | |
Automated trading allowed |
Avatrade offers a wide range of trading instruments across various markets, including Forex, CFD, stock, commodities, indices, futures, cryptocurrencies, and options.
When it comes to account types, Avatrade only offers a standard account. This means that all clients will have access to the same features and trading conditions, regardless of the size of their deposit.
The standard account provides access to all of Avatrade's trading instruments, including forex, stocks, commodities, and cryptocurrencies. This means that traders can diversify their portfolio and take advantage of different market conditions, all within the same account.
Avatrade has a minimum deposit requirement of $100, which is relatively low compared to other brokers in the industry. However, there are other brokers that have a lower minimum deposit requirement than Avatrade. For instance, Pepperstone and XM have a minimum deposit requirement of $0 and $5, respectively.
Avatrade offers demo accounts for traders who want to practice their trading skills or test out the trading platform without risking real money. The demo account allows traders to access the full range of trading instruments and features on the Avatrade platform using virtual funds. It is a useful tool for new traders to get familiar with the platform and for experienced traders to test new strategies before using them in live trading. The demo account is available for 21 days and can be renewed upon request.
When it comes to the process of opening an account with Avatrade, rest assured that it is one of the most streamlined and user-friendly experiences out there. Not only is the process simple and straightforward, but it is also designed to ensure that new traders can start their journey with ease.
Avatrade offers leverage of up to 1:400 for forex trading and up to 1:200 for other instruments such as commodities and indices. This means that traders can control a larger position with a smaller amount of capital. However, it's important to keep in mind that leverage can magnify both profits and losses, and traders should use it responsibly and with caution.
Avatrade also offers a range of leverage options for different account types, including 1:30 for retail clients in compliance with ESMA regulations and 1:400 for professional clients. It's important to note that professional clients must meet certain criteria to qualify for higher leverage.
Avatrade offers competitive spreads and charges no commission fees for trading on its platform. The spreads offered by Avatrade vary depending on the trading instrument and market conditions. For example, the typical spread for EUR/USD is 0.9 pips, while for GBP/USD, it is 1.5 pips. Spreads for other instruments, such as indices and commodities, also vary.
However, it's important to note that spreads can vary depending on market conditions and volatility. Additionally, Avatrade charges commissions on certain trading instruments such as CFDs, which can impact the overall cost of trading.
Non-trading fees are the fees that a broker charges for activities other than trading. These fees can significantly impact the profitability of a trader, and it's important to be aware of them when choosing a broker. Avatrade charges inactivity fee and administration fee. You can find detailed info in the table below:
Fee Type | Amount | Detail |
Inactivity Fee | $/€/£50 | Charged after 3 consecutive months of non-use (“Inactivity Period”) |
Administration Fee | $/€/£100 | Charged fter 12 consecutive months of non -use (“Annual Inactivity Period”) |
Avatrade offers a selection of trading platforms that are designed to meet the needs of different types of traders. Here are some of the trading platforms offered by Avatrade:
Avatrade accepts MasterCard, Visa, PayPal, Skrill, Neteller, Wire Transfer, Perfect Money, and Boleto. The minimum deposit requirement is 100 USD, EUR, GBP or AUD. Deposit and withdrawal processing time very by the method you choose. You can find more detailed info in the screenshot below or directly visit this link: https://www.avatrade.com/about-avatrade/avatrade-withdrawals-deposits.
Avatrade offers customer support 24/7 through multiple channels, including live chat, contact form, WhatsApp: +447520644093, phone (vary by the region), and email. They also have a comprehensive FAQ section on their website, which covers a wide range of topics related to the platform and trading.
Avatrade offers a variety of educational resources to help traders improve their skills and knowledge. They have a comprehensive educational section on their website that includes a range of materials such as academy, trading for beginners, trading platforms turtorials, economic indicators, trading rules, blog, etc. The video tutorials are easy to follow and cover a variety of topics, including trading platforms, technical analysis, and risk management. Avatrade also offers webinars that are conducted by experienced traders and cover a variety of topics. These webinars are interactive, allowing participants to ask questions and receive feedback from the presenter.
Avatrade is a well-established broker with a long history of providing trading services to traders worldwide. They offer a variety of trading instruments, including forex, CFD, stock, commodities, indices, futures, cryptocurrencies, and options, with competitive spreads and leverage options. Their trading platform is user-friendly and provides a range of advanced tools and features for traders of all skill levels. Additionally, they provide excellent customer support, educational resources, and a demo account for traders to practice their strategies. However, there are some downsides to consider, such as higher inactivity fees and limited account options.
Is Avatrade regulated?
Yes, Avatrade is regulated by multiple reputable authorities, including ASIC (Australia), FSA (Japan), FFAJ (Japan), ADGM (UAE), CBI (Ireland), FSCA (South Africa), and KNF (Poland).
Does Avatrade offer a demo account?
Yes, Avatrade offers a free demo account for traders to practice and test their strategies before trading with real money.
What is the minimum deposit requirement for Avatrade?
The minimum deposit requirement for Avatrade is $100.
What is the maximum leverage offered by Avatrade?
The maximum leverage offered by Avatrade is 1:400.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive excentral and ava-trade are, we first considered common fees for standard accounts. On excentral, the average spread for the EUR/USD currency pair is EUR/USD 2.5, GBP/USD 2.8, USD/JPY 2.8, Crude Oil $0.14 pips, while on ava-trade the spread is --.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
excentral is regulated by FSCA. ava-trade is regulated by ASIC,FSA,FFAJ,ADGM,CBI,FSCA,KNF.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
excentral provides trading platform including Classic,Silver,Gold,VIP and trading variety including --. ava-trade provides trading platform including -- and trading variety including --.