What is Excent Capital？
BelleFX is a relatively new broker, established in 2-5 years ago, offering a user-friendly platform called Excent Platform for trading various assets like US stocks, forex, indices, and commodities. A low $50 minimum deposit makes it attractive for beginners, and some spreads start as low as 0.8 pips, potentially appealing to cost-conscious traders. However, a key drawback to consider is the lack of the popular copy trading solution.
Is Excent Capital legit？
Excent Capital holds a Retail Forex License (SD137) issued by the Seychelles Financial Services Authority (FSA) in Seychelles. While the FSA is a legitimate regulator, it's important to note that Seychelles has a less strict regulatory environment compared to some other jurisdictions.
Pros & Cons
On the bright side, Excent Capital offers some interesting features for new traders. With a low minimum deposit and demo accounts available, you can try out the platform before committing real funds. Regulation in Seychelles provides some peace of mind, but it's important to be aware that this isn't the most stringent oversight. However, if you're looking for features like social trading, live chat support, or the popular MetaTrader platforms, Excent Capital won't have what you need.
Market Instruments
Excent Capital targets various traders by offering four main asset classes: US Stocks, Forex (FX), Indices, and Commodities. This gives you the flexibility to trade popular stocks, major currency pairs, broad market indexes, and raw materials like oil or gold – all from a single platform.
Account Types
Excent Capital keeps things simple with just a single live accounts and demo accounts. These practice accounts come loaded with a generous $100,000 in virtual funds, allowing newcomers to explore the platform and test out strategies without risking real money. However, if you're looking for different account tiers with varying features or benefits, Excent Capital doesn't offer them at this time.
Leverage
Excent Capital offers leverage of up to 100:1, which can be appealing to traders who want to control a larger position size with a smaller initial investment. However, more importantly, leverage is a double-edged sword, It can magnify your profits, but also magnify your losses. If you're new to trading, it's generally advisable to start with lower leverage to manage risk.
Spreads and Commissions
Excent Capital's spreads, while not the tightest in the industry, are generally considered average. While the advertised spreads may not be the most competitive, it's crucial to note that spreads can fluctuate based on market conditions and trading volume. Therefore, it's highly recommended to open a demo account with Excent Capital to experience their real-time spreads and get a more accurate understanding of their pricing.
One clear benefit of trading with Excent Capital is their commission-free structure, which means you won't incur any additional trading fees on top of the spreads you see when entering and exiting positions.
Forex pairs spreads
Indices Trading Spreads
Indices Trading Spreads
Cryptos Trading Spreads
Trading Platform Available
Instead of offering the widely popular MetaTrader platforms (MT4 or MT5), they've developed their own in-house platform called Excent Platform. This can be a good fit for traders who prefer a new, potentially streamlined experience. However, if you're accustomed to the familiarity and extensive functionalities of MetaTrader platforms, like MT4, or MT5, you won't find them here.
Deposit & Withdrawal
Excent Capital offers funding flexibility with deposits accepted through credit cards and bank transfers. While the homepage advertises a $50 minimum deposit, the FAQ section clarifies a slightly higher minimum of $200 (or equivalent currency) for the initial deposit. Keep in mind that withdrawals under $1,000 or €800 may incur fees of $30 or €16, respectively. Withdrawal processing times are stated to be within 2 business days.
Education and Resources
Excent Capital provides a mix of educational resources and market analysis tools to support your trading journey. They offer a Knowledge Base with articles and FAQs, along with an Excent Blog for potentially more in-depth content. To stay informed on current market events, they provide an Economic Calendar and news updates through News IQ. While the specific depth and breadth of these resources aren't entirely clear, they do offer a starting point for learning and analysis.
Customer Support
Excent Capital offers multiple channels for you to reach their customer support team. If you prefer written communication, you can send them an email at support@excent.capital. For those who like a more direct approach, they provide phone numbers with international dialing codes (+44 7888 860 64 and +248 437 3651). Additionally, they offer real-time assistance through online chat functionality. And, to cater to your preferred communication style, they maintain a presence across various social media platforms, including Facebook, Instagram, LinkedIn, YouTube, and even Telegram. This comprehensive approach ensures you can connect with Excent Capital's support team through the channel that best suits your needs.
Conclusion
In conclusion, Excent Capital presents a decent option for beginner or basic traders. The low minimum deposit, commission-free structure, and availability of forex, indices, commodities, and US stocks on a single platform are all attractive features. However, potentially higher withdrawal fees, a proprietary platform instead of MetaTrader, and limited educational resources could be drawbacks. Consider your experience level, platform preference before deciding. If you're comfortable with these limitations, Excent Capital might be a suitable starting point for your trading journey. Otherwise, you may find a more established broker.
Frequently Asked Questions (FAQs)
Is Excent Capital legit？
Yes, it is regulated by FSA in Seychelles.
Does Excent Capital offer demo accounts？
Yes. Excent Capital offers free and unlimited demo accounts with 100,000 virtual funds.
Is Excent Capital a good broker for beginners？
Excent Capital might be a good choice for beginners, for its features low minimum deposit, commission-free structure.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
