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CentFX
Suspected Fraud
Suspected Fraud

CentFX

🇦🇮
  • Forex
  • Brokerage
2-5 years
Website

Current Rating

1.48

Industry Tier

E

Profile

CentFX is a forex broker established in Anguilla in 2022, with its headquarters located in The Valley. This broker primarily offers users financial derivative trading services in forex, indices, precious metals, and cryptocurrencies. The broker is strictly regulated by regulatory authorities.

Company Background

CentFX is a broker providing forex trading services, with the registered entity being CentFX Limited. The company's registration number is A000000971, headquartered in Anguilla, with the registered address at Anguilla, No. 8 Cassius Webster Building, Grace Complex, The Valley, 1330. According to information retrieved from Whois, the domain name of CentFX's official website was registered on November 29, 2019.

Official Website

Whois

Regulation Information

According to CentFX’s official website, the company is a licensed forex broker. The entity, CentFX Limited, is authorized and regulated by the Financial Services Commission (FSC) of Mauritius and holds a license with license number GB23201644.

However, according to the information retrieved, CentFX Limited is not authorized and regulated by the Financial Services Commission (FSC) of Mauritius. This indicates that CentFX's official website may be falsely advertising its regulatory information.

Unvalidated Regulation

Trading Products

CentFX offers a variety of trading products, including forex, indices, precious metals, and cryptocurrencies.

  • Forex Trading: CentFX allows investors to participate in the forex market, providing trading opportunities for various currency pairs. Investors can trade based on the price fluctuations of one currency against another.
  • Indices Trading: CentFX enables investors to trade based on the price trends of specific financial indices. These indices include stock indices, commodity indices, bond indices, etc., allowing investors to participate in the market through trading these indices.
  • Precious Metals Trading: CentFX offers trading opportunities in the precious metals market. It is a global market that includes gold, silver, and other precious metals, allowing investors to engage in the market through trading these metals.
  • Cryptocurrency Trading: CentFX offers trading options in digital or virtual currencies that exist and use cryptography to secure transactions, including Bitcoin, Litecoin, and other cryptocurrencies, enabling investors to participate in the market through these transactions.
Forex Trading

Trading Software

CentFX offers investors the well-known MetaTrader 5 trading platform in the forex market, which provides various trading indicators, expert advisors for automated trading, and a wide range of charting tools, adding more technical indicators, a broader range of order types, and a more advanced integrated economic calendar.

CentFX provides trading platforms such as MT5 For Windows, MT5 For Android, MT5 For iPhone, and MT5 For Mac, offering traders a variety of platforms to suit their needs.

However, it is important to note that there are concerns regarding the download links for the MetaTrader 5 platform provided on CentFX's official website. Traders are advised to exercise caution when downloading.

MT5

Account Registration

CentFX's official website provides a link for live account registration, with the following method:

First, open CentFX's official website and click "Register" in the top right corner of the website.

Registration

You can complete account registration by filling in the information step by step.

Account Registration

Account Types

CentFX offers four different types of trading accounts: Micro, Standard, ECN, and Customize.

  • Micro: Spreads from 1.5 pips, minimum deposit of $10, maximum leverage of 1:1000, minimum lot size of 0.01.
  • Standard: Spreads from 1.2 pips, minimum deposit of $500, maximum leverage of 1:800, minimum lot size of 0.01.
  • ECN: Spreads from 0.0 pips, minimum deposit of $5000, maximum leverage of 1:200, minimum lot size of 0.10.
  • Customize: Spreads from 0.0 pips, minimum deposit of $10000, maximum leverage up to 1:1000, minimum lot size of 1.0.

All four types of accounts support currency conversion methods for Euro, Australian Dollar, British Pound, New Zealand Dollar, Canadian Dollar, Swiss Franc, and Japanese Yen to US Dollar. Deposit fees are $0, withdrawal fees are up to 2.5%, with no commission. They enjoy (Islamic) no overnight interest, with a 100% margin call notification,

Account Types

Deposit and Withdrawal Methods

CentFX also offers a variety of deposit and withdrawal options, such as bank transfer, electronic payments, and cryptocurrencies.

For deposit methods, bank transfers are processed within 15 minutes, with no deposit fees. Electronic payments are processed within 15 minutes to 3 days, and except for STICPAY, which charges a 1% fee, all other electronic system methods are free of deposit fees. Cryptocurrency deposits are processed within 15 minutes without any deposit fees.

For withdrawal methods, bank transfers are completed within 3 days and are subject to 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 the fees for other payment methods being 2.5%. Cryptocurrency withdrawals are processed within a maximum of 3 days, with fees being the network fee + 2.5%.

Deposits and Withdrawals

Customer Support

This broker provides 24/7 multilingual support, available through multiple channels, including telephone support, email support, and online chat. Traders can contact the customer support team via the phone number +971 4 331 5944 for direct and immediate assistance. Investors can also send their questions or requests to support@centfx.com. In addition, online chat on the CentFX website facilitates quick communication with the broker.

Summary

CentFX was established in Anguilla and, according to the information obtained, is not authorized and regulated by the Financial Services Commission (FSC) of Mauritius, potentially falsely advertising its regulatory status. CentFX offers a variety of trading products, including forex, indices, precious metals, and cryptocurrencies. As a caution, traders are reminded to be fully educated before engaging in high leverage trading, understand market mechanisms, and carefully consider their investment objectives and risk tolerance.

At present, CentFX is flagged as "Suspected Fraud" on TraderKnows.

User Reviews

1.48

Rated by 0 people

All Rating

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FAQ About CentFX

01

What is CentFX's official website?

A: CentFX's official website is https://centfx.com/

02

Is CentFX a legitimate company, or is it a scam?

A: CentFX is currently marked as Suspected Fraud on TraderKnows.

03

What is CentFX?

A: CentFX is a Forex, Brokerage company.

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Anguilla
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Forex
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