Fxcentral Review (2023)

Is FxCentral a scam or a legit broker?

FxCentral is 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 any guarantee from the official entities that oversee the Forex industry. Thus the engagement to trading with such a companies means the trader will believe only on the broker’s words, and of course, it is a high risk.

FxCentral was established in 2007 while attracting client 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 that, the FxCentral reputation is covered by negative reviews which internet is full of, while the traders faced numerous issues while 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.

Conclusion

All in all, it definitely seems to be a scam company which, unfortunately, targets traders from various jurisdictions and counting on their lack of knowledge. So in conclusion, we strongly advise to avoid broker by every mean and not involve in any cooperation. There are many reputable and well-regulated brokers that deliver trading with trust and efficiency, so better refer to NFA regulated brokers list and choose among these companies.