Regulated by: None
Centro Banc Review & Author's Comment
In this Centro Banc review, you are going to find information on Centro Banc regulation, Centro Banc account types and Centro Banc spreads. Centro Banc is an unregulated forex broker located in Liechtenstein. There are not too many forex brokers in Liechtenstein and forex industry is not very developed in this country.
Is Centro Banc Reliable or a Scam Forex Broker?
Due to the fact that Centro Banc is not regulated by any European financial authority, the Broker gets very low score in reliability criteria. In order to be able to open account and start trading, investors need to deposit at least $5000. This amount is very high when you consider that you are going to deposit the money to an unregulated forex broker. I would not deposit $5000 to a forex broker where I feel my funds are not secure.
Centro Banc Account Types
Centro Banc offers several different account types for the traders. Those account types include ECN, Islamic, Gold, Platinum, VIP and PAMM. ECN account offers the lowest spreads among six types. Islamic account does not charge overnight swap rate and is suitable for traders who have Islamic religious beliefs. Gold, Platinum and VIP account types come with different features such daily forex signals, exclusive customer support, trading promotions, etc… However, you need to deposit a considerably high amount of money in order to become eligible for those services. Minimum required deposit for Gold, Platinum and VIP account types is $5000, $20000 and $25000 respectively.
Centro Banc Trading Conditions
Average spread for EURUSD pair on ECN account types is 0.6 pips. On Gold, Platinum and VIP account types, spreads could go even lower. The Broker offers several different markets available for trading. Forex, precious metals, energy, world indices and cryptocurrencies are the markets which can be speculated on by Centro Banc clients.
Company stocks and soft commodities are not available however the range of cryptocurrencies available for trading is very wide. Centro Banc clients can buy / sell more than 30 different types of cryptocurrencies.
Maximum leverage is 200:1.
Centro Banc Trading Platforms
Centro Banc provides its traders MetaTrader 4 which is the industry’s best known trading platform. With Centro Banc, the trading platform is available on PC, web, mobile phones and tablets.
The MetaTrader 4 platform comes with great features such as stop and limit orders in addition to market orders, more than 30 technical indicators, various analytical tools, nine different charting timeframes, and automated systems called Expert Advisors (EAs).
Furthermore, the MQL development environment lets forex traders to program trading systems and technical indicators of their own strategies along with built-in ones. Forex trading Signals and copy trading features are also provided directly on the MetaTrader 4 terminal.
Centro Banc Customer Support
Centro Banc does not offer live chat support on this web site. Therefore, in case you need to submit an inquiry, you have to either call the customer support number or send your question over email. Centro Banc’s customer support is available in four different languages which are English, German, Italian and Spanish.
Centro Banc Deposit and Withdrawal Methods
Centro Banc offers its traders ten different types of methods for depositing and withdrawing funds. Those methods are international bank transfer, credit cards, Neteller, Skrill, WebMoney, YandexMoney, AstroPay, QIWI, Comodo and PaySafe.
The withdrawal and deposit process may take something between 1 to 48 hours. Please remember that international bank transfer may exceed this limit and take up to few working days however it is the most secure way to transfer large amount of funds.
Centro Banc Final Word
Centro Banc is not regulated by any financial watchdog. Therefore, I would describe Centro Banc as an unreliable forex broker. As I always point out; even if the Broker performs very well in other criteria such as trading conditions, trading platforms, customer support, etc, but it is not regulated, I would not recommend opening account and depositing any funds. Unregulated forex brokers always come with the risk of seizing your deposit let alone your profit. In addition to lack of regulation, Centro Banc requires very high minimum deposit amount which is not other turn-off for me versus this broker.
Centro Banc Review Summary
No regulation, low reliability, very high minimum deposit amount, no negative balance protection, poor customer support.
|Cryptocurrencies:||Bitcoin, Bitcoin Cash, ByteCoin, Clams, Dash, Lisk, Litecoin, Monero, Ripple, Ethereum, Stellar, NEO, Zcash, NEM, Tether, Cardano, TRON, IOTA, EOS, Tezos, Dogecoin, Bitcoin Gold, Steem, Golem, Stratis, Komodo, Populous, QASH, Peercoin, ReddCoin|
|MAM / PAMM Account:|
|Funding Methods:||Wire Transfer, Credit Card, Neteller, Skrill, WebMoney, YandexMoney, AstroPay, QIWI, Comodo, PaySafe|
|Withdrawal Methods:||Wire Transfer, Credit Card, Neteller, Skrill, WebMoney, YandexMoney, AstroPay, QIWI, Comodo, PaySafe|
|24 Hours Support:|
|Languages:||English, German, Italian, Spanish|
|Supported Platforms:||MetaTrader 4|
|Spreads:||As low as 0.6 pips for EURUSD on ECN Account|
|Negative Balance Protection:|
|Accepts Clients from the US:|