Overview of eXcentral

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.

Is eXcentral Limited Legit or a Scam？

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 and Cons

Pros:

1. Diverse Market Instruments: Offers trading in Forex, commodities, and indices, providing a range of options for traders.

2. Multiple Account Types: Availability of Classic, VIP, and Gold accounts caters to different levels of traders, offering flexibility and tailored trading experiences.

3. Competitive Spreads: Claims to offer low spreads ranging from 0.06 to 0.1 pip, which can be beneficial for cost-effective trading.

4. Access to MT4 and MT5 Platforms: Both platforms are well-regarded in the trading community for their advanced features and user-friendly interfaces.

5. Demo Account Availability: Provides a demo account, allowing new traders to practice and get acquainted with the platforms without financial risk.

Cons:

1. 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.

2. 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.

3. Uncertain Operational Status: The revocation of its license raises questions about the current operational status and the safety of client funds.

4. 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.

5. Potential Risk to Investors: Given regulatory concerns, there is a heightened risk for anyone considering investing or trading with eXcentral.

Market Instruments

eXcentral offers trading in a range of market instruments, which include:

1. Forex: This includes a variety of currency pairs, allowing traders to speculate on the changing values of currencies against each other.

2. 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.

3. 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.

Account Types

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.

How to Open an Account？

Opening an account with eXcentral typically involves the following four steps:

1. 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.

2. 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.

3. 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.

4. 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.

Leverage

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.

Spreads & Commissions

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.

Trading Platform

eXcentral offers its clients two well-regarded trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

1. 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).

2. 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.

Deposit & Withdrawal

eXcentral offers various options for deposit and withdrawal, including a specific minimum deposit requirement:

1. 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.

2. Payment Methods:

1. 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.

2. Debit/Credit Card: Offers a quick and convenient way to deposit funds using widely accepted cards like Visa and MasterCard.

3. 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.

Customer Support

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.

Conclusion

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.

FAQs

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.

It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

Pros and cons of Super Forex

Pros:

• Wide range of trading products and account types to choose from

• High leverage of up to 1:3000

• No additional fees on transactions with your account

• Extensive educational resources available, including videos and seminars

• Multiple channels of customer support, including social media platforms and callback option

• Fast processing time for deposits

Cons:

• Limited regulatory oversight and licensing

• Limited information on the company's history and ownership

• Some account types have high minimum deposits, such as the Profi STP and ECN accounts

• The spreads on some trading products can be higher compared to other brokers

• Withdrawals may take longer to process compared to deposits

• Limited options for trading platforms, only offering the MT4 platform.

What type of broker is Super Forex？

Super Forex is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, Super Forex acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that Super Forex has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with Super Forex or any other MM broker.

General information and regulation of Super Forex

SuperForex is a global forex broker established in 2013 with a mission to provide its clients with top-quality financial services and a wide range of trading instruments. The company is headquartered in Belize. With its client-centric approach, SuperForex offers various account types, flexible trading conditions, a range of trading platforms, a variety of payment options, and a comprehensive set of educational resources to cater to the needs of both novice and experienced traders.

In the following article, we will analyze the characteristics of this broker in all its dimensions, providing you with easy and well-organized information. If you are interested, read on.

Market instruments

Super Forex offers a wide range of trading instruments, including cryptocurrencies, precious metals, stocks, oil, forex pairs, and indices. The availability of multiple asset classes provides traders with diversification opportunities, access to global markets, and the potential for high returns. With access to popular asset classes such as forex pairs and indices, traders can also benefit from high liquidity, which means they can quickly enter and exit positions at the desired price. However, trading multiple asset classes can be complex, may require extensive knowledge and expertise, and may come with higher margin requirements, increasing trading costs. Additionally, as the research and analysis on each asset class may not be as detailed or comprehensive as traders would prefer, traders should conduct their own research and analysis to make informed trading decisions.

Spreads and commissions for trading with Super Forex

Super Forex offers competitive spreads and provides a detailed fee table that outlines spreads, commissions, SWAPs and lot sizes for various accounts and products. The absence of commissions and deposit/withdrawal fees makes trading cost-effective. However, as an unregulated broker, Super Forex carries a risk of potential hidden fees. Also, the high leverage of up to 1:3000 can be both beneficial and risky, as it can magnify profits and losses. Moreover, the lack of negative balance protection is a disadvantage that can expose traders to significant losses.

Trading accounts available in Super Forex

STP accounts:

ECN accounts:

Super Forex offers a variety of account types, ranging from Standard and Micro Cent accounts to more specialized accounts like No Spread and Crypto. The broker also offers ECN accounts with floating spreads for traders looking for a more transparent pricing model. Each account type has its own minimum deposit requirement and maximum leverage, giving traders the flexibility to choose an account that best fits their needs. Additionally, the Swap-Free account option is available for those who require it, and the Profi STP account is specifically designed for professional traders. However, it should be noted that some account types have limited leverage and some have higher spreads compared to others.

Trading platform(s) that Super Forex offers

Super Forex offers its clients the popular MetaTrader 4 (MT4) platform for trading, which has been in use for over a decade and is known for its user-friendly interface and flexible customization options. With MT4, traders have access to advanced charting tools, automated trading through expert advisors (EAs), and a large community of support with abundant resources. However, MT4 has limitations in terms of access to market data and news compared to newer platforms, and it does not offer two-factor authentication for added security. Additionally, while the platform is flexible and customizable, it does have limitations in terms of charting tools compared to other platforms.

Maximum leverage of Super Forex

Super Forex offers a very high maximum leverage of up to 1:3000, which can be advantageous for experienced traders looking to amplify their profits and gain greater market exposure with smaller initial investments. However, high leverage also carries a significant amount of risk, as it can lead to substantial losses in a short period of time. This requires traders to possess advanced risk management skills and strategies to mitigate the risks. Additionally, high leverage is not available in all jurisdictions due to regulatory restrictions.

Deposit and Withdrawal: methods and fees

SuperForex offers a variety of deposit and withdrawal options to cater to clients' different preferences. One advantage is that the company does not charge any additional fees on transactions with your account. However, there is no information available on the fees charged by payment systems or banks, which may lead to unexpected charges for clients. Processing time for withdrawals may also take up to four business days, which may be longer than some competitors. On the other hand, deposits are processed instantly. SuperForex also offers local payment options, which can be convenient for clients in certain regions. However, the cryptocurrency options are limited compared to some competitors. It would be helpful for SuperForex to provide more information on withdrawal limits to assist clients in planning their transactions.

Educational resources in Super Forex

Super Forex offers a variety of educational resources for its clients. The company provides comprehensive lections, a glossary, seminars, training centers, educational videos, and other resources to help traders learn more about forex trading. Additionally, Super Forex has an official YouTube channel where clients can access even more videos to supplement their learning. These resources are available free of charge to Super Forex clients, and they are accessible to traders worldwide. However, there are some disadvantages to Super Forex's educational resources. While they are comprehensive, they do not offer personalized guidance, and there is no formal certification process. Additionally, the resources are self-directed, which may not be suitable for all learners, and some of the materials may be more basic than others.

You may also visit their official YouTube channel to watch more videos. Here is a recent video about technical analysis.

Customer service of Super Forex

Super Forex offers a variety of customer care options for their clients. The company provides 24/5 customer support through various channels, including email, phone, WhatsApp, WeChat, Telegram, and social media platforms such as Instagram, YouTube, Facebook, Twitter, and LinkedIn. The FAQ section on their website is another helpful resource for clients who prefer self-help. Additionally, the callback feature is available for personalized assistance. However, Super Forex does not offer 24/7 customer support and live chat is not available on their website. Furthermore, phone support may not be available for some countries and there is no physical office or location available for in-person assistance.

Conclusion

In conclusion, Super Forex is a reputable and reliable forex broker that offers a wide range of trading instruments and account types to its clients. Its multiple deposit and withdrawal options, as well as its educational resources and customer support channels, make it an attractive option for traders of all levels of experience. The company also stands out with its high leverage of up to 1:3000, which can potentially lead to significant profits. However, traders must be aware of the risks involved in high leverage trading and exercise caution when trading with such high ratios. Overall, Super Forex provides a solid trading environment for traders looking to participate in the forex market.

Frequently asked questions about Super Forex

• Question: What is Super Forex？

• Answer: Super Forex is a global forex broker that provides online currency trading services for both retail and institutional clients worldwide.

• Question: Is Super Forex regulated？

• Answer: No, Super Forex is not regulated.

• Question: What trading platforms does Super Forex offer？

• Answer: Super Forex offers the popular MetaTrader 4 (MT4) trading platform, which is available for both desktop and mobile devices.

• Question: What is the minimum deposit required to open an account with Super Forex？

• Answer: The minimum deposit required to open a Standard account with Super Forex is 5 USD.

• Question: What types of accounts does Super Forex offer？

• Answer: Super Forex offers various types of accounts, including Standard, Swap-Free, No Spread, Micro Cent, Profi STP, Crypto, ECN Standard, ECN Standard-Mini, ECN Swap-Free, ECN Swap-Free Mini, and ECN Crypto accounts.

• Question: What is the maximum leverage offered by Super Forex？

• Answer: Super Forex offers a maximum leverage of up to 1:3000.

• Question: What educational resources are available on the Super Forex website？

• Answer: Super Forex provides a variety of educational resources, including comprehensive lessons, a glossary, seminars, training centers, and educational videos, which are all designed to help traders improve their knowledge and skills in the forex market.