ForexCent Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-11-27 13:35

Abstract：Founded in 2006, ForexCent is an unregulated forex broker based in China, offering trading in over 30 currency pairs and CFDs with leverage up to 1:5 via the MT4 platform. The minimum deposit requirement to open a live account is as low as USD 5.

　　Note: ForexCent's official website: https://www.forexcent.com is currently inaccessible normally.

ForexCentReview Summary
Founded	2006
Registered Country/Region	China
Regulation	Unregulated
Market Instruments	30+ currency pairs, CFDs
Demo Account	/
Leverage	1:5
Spread	/
Trading Platform	MT4
Min Deposit	$5
Customer Support	/

　　Founded in 2006, ForexCent is an unregulated forex broker based in China, offering trading in over 30 currency pairs and CFDs with leverage up to 1:5 via the MT4 platform. The minimum deposit requirement to open a live account is as low as USD 5.

Pros and Cons

Pros	Cons
MT4 supported	Inaccessible website
Low minimum deposit	Not regulated
	Unclear fee structure
	No info on payment options
	No contact channels

Is ForexCent Legit?

　　No, ForexCent is not regulated by any reputable financial body. Please be aware of the risk!

What Can I Trade on ForexCent?

　　ForexCent offers over 30 currency pairs and CFDs for investment and trading options.

Tradable Instruments	Supported
Currency pairs	✔
CFDs	✔
Bonds	❌
Options	❌
ETFs	❌

Leverage

　　ForexCent offers a leverage of only 1:5. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Trading Platform

　　ForexCent offers the MT4, MetaTrader Mobile and WebTrader trading platforms.

Trading Platform	Supported	Available Devices	Suitable for
WebTrader	✔	Web	/
MT4	✔	Web, Desktop, Android, iOS	Beginners
MT5	❌	Windows, Android, iOS	Experienced traders