Fxcentral Review

Is FxCentral Scam or Legit Broker?

FxCentral is a 100% fraud company. The broker is registered offshore and does not hold any proper license from a well-known reliable financial regulator. It is NOT SAFE to trade FxCentral. We never advise trading with an offshore broker, since the financial investment service they deliver is not trustable.

• The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no guarantee from the official entities that oversee the Forex industry. Thus the engagement in trading with such a company means the trader will believe only in the broker’s words, and of course, it is a high risk.

What is FxCentral?

FxCentral was established in 2007 while attracting clients with a claim to offer Direct Market Access on a variety of trading instruments to retail and institutional clients through its offices in the United States and the Arab Emirates.

• However, being allegedly located in reputable locations the company does not hold or comply with any registrations or strictest authorization to perform financial services. This is a serious fault within the trading industry since the reliability and trust of the broker along with the clients' safety goes first. As the broker’s operation and services are not overseen by any authority, there is no guarantee how exactly service is provided, thus the risk of fraud is extremely high.
• In addition to this, the FxCentral reputation is covered by negative reviews about numerous issues during trading, or managing the positions and, of course, trying to withdraw funds.
• Also, it was a case that many traders received a message that the company is closing, therefore, all operations should cut-off which caused also further issues with withdrawals which are not received even yet. However, if you go to the official company website, you’ll find an alert about its active operation status and non-association with any other forex brokering company, from which the traders received the message, while the broker pretending to be a very legit firm with no spots on its reputation and sustainable trading environment.

Overall FxCentral Ranking 

Based on our revelations about the safety of FxCentral, we do not rank positively FxCentral, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• FxCentral Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

FxCentral Alternative Brokers

Due to our finds and issues with the safety of FxCentral, here are much better Alternatives to FxCentral with good regulations and excellent conditions. We select Good Brokers and trustworthy options for your comparison below: 

• AvaTrade – Good Instruments and CopyTrading
• Dukascopy – Excellent for Shares, Futures Trading
• BlackBull Markets – Good for High Leverage Trading

Deposit & Withdrawal

FxCentral offers different funding methods for deposits and withdrawals. However, the broker does not provide detailed information about the deposit and withdrawal processes.

• The maximum deposit size isn’t limited for all account types.

FxCentral Review Conclusion

We advise opening a trading account only with brokers that are regulated by respected world authorities and comply with the required set of rules and a good reputation. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as HotForex, and BlackBull Markets.

• Overall ranking and experience for FxCentral is Negative