Found out about CentrisFX and wondering if it’s a good broker. After all, their website displays several credible licenses, so what could go wrong, right?
Well, many things. And all of them will be elaborated on in our detailed CentrisFX review.
If you’re still wondering is CentrisFX legit, we can safely say that it’s not. You should skip it and find a licensed company for your trading needs.
CentrisFX is luring victims on social media, placing ads via Facebook, Instagram, and YouTube. The company advertises itself as a legitimate, regulated broker safe for customers’ funds. And if we didn’t check the authority databases ourselves, we would believe their story. After all, their website looks like solid work.
The company says it offers negative balance protection, segregated accounts for customers’ funds, and no commission for money transfers. All that a legitimate broker should offer. We’ll give them a shout-out for doing proper research, at least.
However, once you request a withdrawal, we found out that CentrisFX support will suddenly go mute and ignore your requests. In fact, they will draw your balance to zero and pretend that you lost all your money by bad financial choices, and you have no right to get a refund. This is when you’ll try to contact regulators and understand that they cannot help, considering that CentrisFX was never authorized.
This list doesn’t surprise us, considering that it contains three countries whose regulations they faked. Therefore, you should be well aware of the fact that CentrisFX is not a licensed brokerage firm, and your money is at risk.
As expected, CentrisFX didn’t bother to provide credible trading software. After all, that would cost them money they’re unwilling to spend. Instead of a reliable platform like MT4, MT5, or cTrader, this company offers a WebTrader.
Browser-based software lacks advanced features such as EAs and social trading, but there are far more significant issues. Since everything is online, brokerage companies can manipulate your trades and change your account balance in accordance with their story.
Since the company doesn’t offer any reputable software, there are no mobile apps either. You will find a link supposedly leading you to download the app, but nothing will happen once you click on it. Malfunctioned like a brokerage in general.
The company says it offers access to several asset classes, those being:
The leverage and other trading terms are unknown, which is a serious issue considering that you cannot assess the risks.
You can find five different account types on offer, those being:
The spread ranges from 2.2 to 0 pips, depending on the account. Commissions are also lowering, going from $1 per lot for the Entry account to no commission for the Gold and the VIP.
There’s no risk-free Demo account that would help us confirm the trading terms and see whether the spread and the commissions are actually as advertised.
The company offers 3 different payment options, those being:
The minimum deposit is $250, and there are no fees. For CentrisFX withdrawal, however, you will have to pay 3% for card payouts and Neteller, 1% for Skrill, and bank commissions for other methods.
The withdrawal time ranges from 1 to 5 business days, depending on the chosen option. However, some reviews indicate that the brokerage will try to delay you, ask you to cover certain taxes, and then simply ignore you. And if you wish to contact CentrisFX, there’s only a website form.
If CentrisFX scammed you or you know someone with a negative experience, it’s essential to take the first steps toward recovery immediately. You should contact the local authorities and your bank and prepare a detailed report.
Furthermore, you can contact Global Fraud Protection. Our chargeback specialists will evaluate your case during a free consultation to find a way to assist. Note that we’re offering a thorough, non-obligatory assessment of your case and all your options. Book your appointment today.
CentrisFX is an unregulated trading company despite its claims. If you have already lost money with the firm, we might be able to help with fund recovery.
You can trade crypto and other CFDs with CentrisFX, but the authorities warned against it.
No, CentrisFX doesn’t provide a reliable trading platform but only a WebTrader.
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