FXCentrum, also referred to as FXC, is a next-generation broker which combines ease-of-use with professional grade features. Having been formed in 2019, its core set up is designed about new ways of giving traders direct access to the financial markets. You can invest in a range of different asset groups on competitive terms and trade your own ideas, or those of others using the neat FXC Copytrading service. New customers can benefit from impressive range of promotional offers including cash bonuses and those looking to try the service out can set up a Demo account in a matter of seconds.

FXCentrum Review Pros & Cons

Table of Contents

Broker Test: Our FXCentrum Review

1. Trade conditions: Competitive spreads and transparent pricing policy

FXC offers clients a wide range of markets which can be traded using different types of strategies. Short-term scalping strategies are the only approach not permitted with the broker defining scalping as entering into and closing out positions in less than three minutes. Hedging is allowed, which allows clients to run more sophisticated strategies, and the broker applies variable spreads starting at 0.03 pips which makes FXC pricing terms well in line with the broker’s peer group.

There is no commissions charged on trades, no account management fee, and no charges applied on deposits. The first withdrawal of any calendar month is free of charge with additional withdrawals incurring a $10 charge. When it comes to the business of putting on trades, leverage terms are adjustable and can extend to 1: 1,000.

2. Underlaying Assets / Trading Platform Offering: Multi-asset broker offering hundreds of markets

Clients of FXCentrum can trade a range of different asset groups including forex, commodities, indices, and stocks. That diverse selection of instruments allows traders to specialise in one field or diversify their positions to capture more general moves in the global financial markets.

• Commodity markets: 22
• Currency markets: 42
• Indices: 35
• Stocks: 134

The number of commodity markets on offer helps FXC stand out from its competitors. As well as the standard offering of oil, gas, gold, and silver, there are markets in more exclusive instruments such as aluminium, cotton, and cocoa. In all, there are 22 commodity markets to trade, 42 forex markets including major, minor and exotic currency pairs, 35 indices covering the major global stock markets and 134 big-name US stocks. The absence of crypto markets and non-US stocks might impact some investors, but the overall offering should be more than sufficient for most traders.

3. Order Features of the Trading Platform: Set your trades to match your strategy

The modern, fresh, approach of the platform design is exemplified by the format of the trading interface. When booking trades and putting cash at risk, it helps to have on tools such as stop loss and take profit orders positioned where you can easily access them. At FXC these order types are included as part of the trading GUI and can be easily adjusted before clicking ‘buy’ or ‘sell’. They can also be adjusted any time after trade execution which allows you to adjust your approach to risk according to market conditions.

If your strategy planning points to your trade entry point having not yet been reached, you can use the ‘pending order’ service to input an instruction which will be automatically triggered if price reaches a certain level. That additional degree of automation not only allows you to focus on other matters whilst you wait for the market to move, but also helps instil and extra degree of discipline in your trading approach.

4. Analysis Features of the Trading Platform: charts, indicators, research and more

Even if you are already aware of what trade you want to put on then utilising research indicators and tools can help you optimise your returns. The charting package includes razor-sharp graphics tools to help you spot forming trends and market tops and bottoms. There are 21 indicators ranging from Average Directional to WilliamSR, while some brokers will offer more indicators than that all of the important indicators are covered at FXC. The ability to adjust the metrics of each indicator is a nice-to-have feature but the option of only two chart types (candlestick and line) is somewhat limiting. If FXC were to introduce other chart types such as Heiken Ashi candlesticks that would take its charting function up a level.

If you’re unsure of the exact angle you want to take in terms of gaining exposure to the markets, then the ‘social feed’ area of the trading dashboard could be a source of trading ideas. That reports on market trends and gives a clear and simple reading as to whether the research tool considers the market a buy or a sell.

5. Regulation, Deposit Guarantee, and Risk Limitation: Licensed and regulated by the FSA

FXCentrum is licensed and regulated by the Financial Services Authority of Seychelles (FSA), with which it holds license number SD055. The FSA operates a robust regulatory and compliance framework and has protocols in place to protect clients of firms which hold licenses with them. FXC also applies Negative Balance Protection (NBP) on all accounts, meaning you cannot lose more money than you initially deposit.

With an eye on meeting the sensible security concerns of investors the firm also offers a series of self-imposed guarantees:

• Guarantee of Processing – The broker guarantees that your deposit and withdrawal will be processed.
• Guarantee of No Commissions – The firm is committed to zero commissions on all trading carried out on the FXCentrum platform.
• Guarantee of Support – A guarantee of extensive support for clients and an excellent trading experience.
• Guarantee of Protection – Negative balance protection.
• Guarantee of Retention – A commitment to provide a personal account manager to those clients which meet the necessary deposit requirements.

The firms well thought approach towards client care extends past these core guarantees with other provisions made to ensure the firm guarantees clients access to important information, privacy, tech security, and a reliable trading platform.

6. Automated trading: Innovative copy trading service

The stalwarts of automated trading, MetaTrader’s MT4 and MT5 platforms are not available at FXC. But those looking for a more hands-off style of trading are adequately compensated by the provision of the FXC Copytrading service.

FXC Copytrading is easy to use, and trades booked following the ideas of others are held in the same account as trades you book applying your own strategies. Having all your positions in one place makes monitoring your wealth easier and that additional layer of convenience isn’t offered by all brokers. Selecting which trader to follow is helped by the Super Stats tool which ranks Money Manager traders by performance and includes granular detail on each one’s trading style. That allows you to make an informed decision on which lead trader you want to be responsible for trades on your account. If you want to manage your exposure to a Money Manager, then you can adjust your copy trading settings to scale up or down the amount of cash allocated to them over time.

Following the ideas of others is a convenient and popular approach but comes with additional risks. To help mitigate the risk of someone else posting losses to your account FXC provide copy traders with the option to receive direct messages relating to trading activity. The Money Manager still carries out all the research and trade execution for you, but you can monitor their progress on a real-time basis, and if you want to, end the relationship at any time.

There is no minimum balance requirement for the FXC Copytrading service, but the broker does suggest that $250 would be the recommended minimum if you want to ensure your trades accurately reflect those of the Money Manager.

7. Account Opening and Minimum Deposit: Guaranteed processing and zero-fee options

Demo accounts take seconds to open and offer new clients a risk-free and cost-free way to explore the potential of the FXC platform. Opening a live cash account takes slightly longer because the broker is regulated, and the FSA require them to gain sufficient knowledge of each client’s personal situation. Gathering extra information ensures the broker complies with KYC (Know Your Client) and client care protocols, but the onboarding process is easy to follow.

After you have registered for your FXCentrum account the next step towards trading the markets involves depositing funds. There are an impressive range of payment options, including Visa, Mastercard, Astropay, Help2Pay, OnlineNaira, MoonPay, Perfect Money, Korapay, Ozow, NetBanking, UPI and Pix. It is also possible to fund your account using cryptocurrencies including Bitcoin and Tether. While the exact T&Cs depend on which payment service you use, many of those listed ensure that funds show up in your new FXC account instantly. The minimum account opening balance is a super-low $10 or €10 and Islamic, swap-free accounts are available.

WTG LTD the parent company of FXC does not offer its services to residents of certain countries. The list of jurisdictions which cannot access the service include the USA, Afghanistan, Bosnia and Herzegovina, Crimea, Cuba, Ethiopia, Iran, Myanmar, North Korea, Sudan, Syria, Vanuatu, Yemen. Citizens of other countries may find they need to provide additional documentation and the broker reserves the right to refuse an application.

8. The Broker and its Competitors: Industry rewards and positive user feedback

FXCentrum is a registered trademark of WTG Ltd which is based in Seychelles and is headquartered at Office 5B, HIS building, Providence Mahé, Seychelles. The company’s registered address is House of Francis, Room 302, Ile Du Port, Mahe, Seychelles. From that Seychelles base the firm has set out to develop a global client base and the trading platform can be set to operate in up to 21 different languages.

The firm which was founded in 2019 has already made considerable progress. It has more than 50,000 clients and Trustpilot ranking of 4.8. FXCentrum has also been recognised by industry specialists and at the Forex Awards ceremony of 2024 collected the Fastest Growing Broker, Best Forex Broker Asia titles. It was also nominated for the Best Forex Broker Africa, Best Trading Platform, and Best Introductory Program awards.

9. Additional Offers for New Customers: Bonuses and competitions

Many traders considering setting up an account with FXC will note the additional incentive provided by a range of bonus schemes. The terms and conditions of these change over time but it’s not unusual to find the broker offering new clients a $1,000 Floating Bonus which provides $1,000 of additional funds to your trading account. There are also regular competitions where the Trader of the Month receives a cash prize.

10. Customer Service and Website: Account managers and multi-lingual support

The FXCentrum platform has been designed to be easy to use, but if you do need additional support, you can contact the FSC team via phone, Live Chat, or email. An impressive 50 languages are spoken by that team ensuring traders can have confidence in their understanding of any situations.

FXC clients can also access a range of ‘How to Trade’ and other research and analysis materials which are provided free of charge in various formats, including videos and e-books.

Conclusion and Final FXCentrum Evaluation

There are plenty of reasons which justify the rapid growth and popularity of FXCentrum. It offers all the core services needed to trade the financial markets, and very attractive additional extras as well. Traders will form their own view on whether the FSA regulatory environment is secure enough for them, but by operating out of Seychelles the firm is able to offer leverage terms and bonus offers not found elsewhere.