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FXCentrum is a forex broker located in the Seychelles, regulated by the Seychelles Financial Services Authority (SFSA).
FXCentrum reserves the right (as stated on their site) to not accept clients from European Union, Russia, Albania, Barbados, Burkina Faso, Cameroon, Cayman Islands, Croatia, Congo, Gibraltar, Ghana, Haiti, Israel, Jamaica, Jordan, Mali, Malta, Morocco, Mozambique, Nicaragua, Nigeria, Pakistan, Panama, Philippines, Senegal, South Africa, Tanzania, Turkey, Uganda, UAE, Vietnam.
Forex broker offers the following underlying assets for trading.
| 40+ Currency Pairs | Based on major and minor world currencies. |
| 35 Indice CFDs | Based on baskets of different blue-chip stocks and US Dollar Index. |
| 7 Metal CFDs | Based on Gold, Silver, Platinum, Palladium, Aluminium, Zinc, Copper. |
| 6 Energy CFDs | Based on Crude Oil (WTI, Brent) and Natural Gas. |
| 7 Soft CFDs | Based on Cocoa, Coffee, Corn, Cotton, Soybean, Sugar, Wheat. |
| 2 Bond CFDs | Based on 10-Year US Bond and 10-Year Germany Bond. |
| 100+ Stock CFDs | Based on shares of top-rated US companies. |
FXCentrum is a forex broker registered offshore in the Seychelles. The broker offers a good selection of trading instruments across most asset classes, with trading leverage going as high as 1:1,000.
The instruments offered for trading by FXCentrum includes more than 40 forex pairs, a massive selection of 35 popular stock indices, single stocks from more than 100 publicly traded US companies, US and German government bonds, and a handful of commodities.
All of these assets are traded as contracts-for-difference (CFDs), a type derivative popular among traders to get leveraged exposure in an easy way both on the long and short side for any asset.
As its trading platform, FXCentrum has developed an app known as FXC Trader that runs on Apple and Android phones, as well as in web browsers on all types of computers. The platform offers a useful copy trading feature that allows new traders to copy more experienced and profitable traders, and comes with a fairly advanced charting and technical analysis functionality for those who prefer to do their own analysis.
FXCentrum stands out from most other brokers by not offering several different types of trading accounts, but instead focusing on one VIP account and one regular account with the choice of two types of bonuses. The first bonus option is called “margin bonus” and is essentially extra money to boost buying power in the market, while the second option is called “floating bonus,” which is a type of bonus payment meant to protect against drawdowns during trading.
Notably, the bonus amount itself can never be withdrawn, but any profits made from trading with the bonus can.
The minimum deposit amount to qualify for the bonus is $100, although only $10 is enough to simply open an account without getting the bonus.
Meanwhile, to qualify for a VIP account with FXCentrum, a $10,000 deposit is required. The broker is not very clear about what benefits VIP clients get, but makes it clear that there will be a $200 bonus on “selected deposits,” access to VIP signals, and “special offers to help experienced traders grow.”
VIP accounts must be requested manually by submitting a form on the broker’s website.
Accounts can be funded with bank transfer, major payment cards, AstroPay, ZotaPay, Perfect Money, and the cryptocurrencies Bitcoin (BTC) and Tether (USDT).
FXCentrum support is provided by phone with a Seychelles number, email, live chat, or the messaging apps WhatsApp, Viber, Line, Telegram and Messenger. The broker has not stated what its support team’s working hours are, but promises on its website that it will reply to all emailed questions within 24 hours on working days.
All in all, it seems that FXCentrum has established itself as a solid offshore broker with a strong selection of trading instruments and high leverage. The broker could therefore be an interesting one to look at for aggressive traders who want access to leverage, while at the same time keeping commission and spread costs down. It’s also good to see that the broker is overseen by the local regulator, although the regulatory standards cannot be expected to be at the same level as for onshore brokers in places like the EU or Australia.
