Trade Centrix – Can You Trust Them?

| Publish date: 07/18/2023 (Last updated: August 07, 2023 06:57 AM)
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Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.

Trade Centrix - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Deposit
X

updated 2023

The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.

Try these regulated brokers if you want to start trading cryptocurrencies

Plus500 Review - Regulated broker
Plus500CY Ltdauthorized & regulated by CySEC

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

 

Website URL: https://tradecentrix.net

Founded: 2023

Regulations: None

Languages: English, German, Spanish

Deposit Methods: Debit Card, Credit Card, Wire Transfers

Minimum Deposit: $250

Free Demo Account: Not Provided

Number of Assets: Unknown

Types of Assets: Foreign Currency, Indices, Cryptocurrencies, Commodities, Stocks

Trading Accounts and Conditions

Trade Centrix seems to offer only one type of personal account to their clients. Added to that, besides the single piece of information that their minimum deposit requirement is $250, this broker has not given any details about their trading conditions either.

Trade Centrix – Advantages

We could not find anything positive to say about Trade Centrix; this broker is a scammer.

Trade Centrix – Disadvantages

Trade Centrix is not a broker to be trusted, and listed below are all the red flags that tell us so:

  • Unregulated and Anonymous Broker

The first red flag that tells us that Trade Centrix is not a trustworthy broker is their lack of regulation.

Regulated brokers provide all the information needed to establish their legitimacy. They tell us who their parent company is, where they are located, how we can contact them and which financial authority has regulated them.

With Trade Centrix, most of this information is missing. This broker does not tell us the name of the company that runs their online operation. There is half an address – the broker lists London, UK as their address, but there is no specific address given. The telephone number listed in their Support page is based in Denmark.

A broker cannot legally operate in the UK if they are not authorized by the Financial Conduct Authority – the country’s financial regulator. We checked the FCA’s registers online and found that there is no brokerage firm by this name listed with the regulator.

Our investigation has shown us that Trade Centrix is not based in the UK as they claim. In fact, this broker is actually operating anonymously since we do not know their location and we also do not have any information on which company runs this online broker.

Thus, Trade Centrix is an anonymous and unregulated broker, which means that they are a scam operation.

Plus500
$100
Minimum Deposit

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

 


AvaTrade
$100
Minimum Deposit

The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.

 

  • No Legal Documents

Another sign of a broker being a scammer is the lack of legal documents.

Legal documents are compulsory for all regulated brokers. These documents are the contract between them and their customers. They detail all the services, the terms and conditions of service, the costs, commissions and fees, as well as the policies adopted by the broker.

If these documents are missing, then the broker can essentially do what they want with your money and what personal information you may have provided them.

This is why it is so imperative to check for and go through a broker’s legal documents before you commit to them. Just this one simple step could save you from being scammed.

  • Issues with Trading Platform

Trade Centrix claims to offer their clients a powerful and intuitive trading platform. However, this is also just another lie this broker has told in order to attract more clients.

We usually register for an account so that we can check out a broker’s trading platform for ourselves. However, with this broker, we were not allowed to open an account without first making a minimum deposit.

With legitimate brokers, you can easily access their trading platform without having to make any deposit first. In fact, they usually offer their clients a free demo account where you can actually test their platform and their trading conditions before you actually invest with them.

Since we were not able to register, we could not check out Trade Centrix’s trading platform, so there is not much that we can say about this.

  • Issues with Trading Conditions

Real brokers will advertise their trading conditions prominently on their website. This is because it is their trading conditions (as well as their trading platform) that will help traders decide whether it would be advantageous to use that broker’s services or not.

The trading conditions tell traders whether a trade is cost effective or not, whether the risk levels are reasonable, how long a trade will take and so on. Without this information, it is very difficult to make a clear decision on signing up with a broker.

Scammers, on the other hand, avoid giving as many details as possible on their trading conditions since this would be revealing the fact that their trading conditions are not advantageous at all for the trader.

Therefore, when a broker has no information on trading conditions, you can be certain that you are dealing with a scammer.

The one piece of information that this broker provides – a minimum deposit of $250 – is also an indicator that Trade Centrix should be avoided. This minimum deposit is much too high, especially when you consider the fact that there are so many excellent brokers with whom you can open a trading account for as little as $10.

  • Issues with Payments

The first issue we have with Trade Centrix’s payments is that there are very limited options; traders can only transaction via debit or credit cards and wire transfers. Legitimate brokers offer their clients a wide range of payment options ranging from the trading bank transfers all the way to crypto payments.

Added to the lack of payment options, we also do not know what withdrawal policy this broker has in place. Therefore, we do not know if there is a minimum withdrawal limit, if there are any terms for withdrawing your funds, how long do withdrawal requests take to be processed and so on.

All the lack of information on simple and key aspects like payments tells us that we are dealing with an untrustworthy broker. 

Conclusion

Trade Centrix is not a broker that can be relied upon; they are scammers out to get your money, so it is best to stay away from them.

Trade Centrix

2.5

User Experience

2.5/10

Payment Options

2.5/10

Security

2.5/10

Support

2.4/10

Reputation

2.6/10

Pros

  • None

Cons

  • Unregulated and Anonymous Broker
  • No Legal Documents
  • Issues with Trading Platform
  • Issues with Trading Conditions
  • Issues with Payments

Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:

Plus500
$100
Minimum Deposit

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

 

AvaTrade
$100
Minimum Deposit

The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.

eToro
$50
Minimum Deposit

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

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