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FXCentrum Broker Review For Nigeria In 2023

About FXCentrum

FXCentrum is an established, reputable forex broker. Their focus is on delivering a high-quality, transparent service. They are popular within the forex industry and they have earned a good reputation among forex traders.

FXCentrum has a great choice of trading instruments. They give traders in Nigeria the opportunity to trade all the best asset classes – including forex, stocks, and crypto CFDs – and they give the access to two powerful trading platforms. FXCentrum also offers their traders the chance to trade with low minimum deposits, tight spreads, and zero commissions.

When it comes to resources, they provide helpful trading tools and great educational materials. As such, if you choose FXCentrum, then you will have everything you need to start trading forex and to become a successful forex trader.

FXCentrum at a glance

🏛️ Based inSerbia
⚖️ RegulationFSA
💰 Minimum Deposit$10 (4000 Naira)
💳 Deposit OptionsCrypto, VISA, MasterCard, BitPay, FasaPay, Maestro, Neteller, Skrill, UnionPay, WebMoney, Bank Wire
💳 Withdrawal OptionsCrypto, VISA, MasterCard, BitPay, FasaPay, Maestro, Neteller, Skrill, UnionPay, WebMoney, Bank Wire
📌Open an accountStart Trading with FXCentrum
FXCentrum QuickInfo

Regulation

The FXCentrum holds a License from the FSA (Financial Services Authority Seychelles) The Seychelles Financial Services Authority is the autonomous regulatory body responsible to license, regulate, enforce regulatory and compliance requirements, monitoring and supervising the conduct of business in the non-bank financial services.

Trading Instruments

FXCentrum offers a great selection of trading instruments. You can choose from 7 asset classes including forex, commodities, metals, stocks, indices, ETFs, and cryptocurrencies.

  • Forex: They offer many popular major, minor, and exotic currency pairs. The maximum leverage on forex pairs is 1:1000.
  • Commodities: They offer trading on energy such as oil and natural gas. They also offer CFDs on agricultural goods such as coffee.. The leverage is 1:1000.
  • Metals: FXCentrum has metal CFDs such as Gold vs US Dollar (XAUUSD), Silver vs USD (XAGUSD), and Platinum vs USD (XPTUSD).
  • Stocks: They offer CFD shares on major brands such as Meta, Twitter, Google, Tesla, and Apple. The maximum leverage on CFD shares is up to 1:1000.
  • Indices: They offer trading on many popular indices including the S&P500, the Nasdaq100 and the Dow Jones 30. The maximum leverage on indices is up to 1:000
  • Crypto: FXCentrum offers access to CFD trading on many crypto instruments including BTC, ETH, and 20 others

Trading Platforms

FXCentrum offers two online trading platforms – MetaTrader5 and FXC Trader.

MetaTrader5

MetaTrader5 (MT5) is also a great option for forex traders in Nigeria. It has a convenient setup with many built-in trading tools. As with MetaTrader4, you can use it to access all of your favourite markets. It has a simple, but modern interface. It also has a wide selection of trading tools including 6 order execution types, 38 indicators, and 37 analytical objects. As such, it has more functionality than MetaTrader4. That said, it it still very for new forex traders to use.

FXC Trader

FXC Trader is their proprietary trading platform. It comes with intuitive controls, reports, data, analysis, fast execution, and many trading tools. You can trade comfortably on our platform from any device. You get access to global CFD markets, including Forex, Stock Indices, Commodities, Stocks, and ETFs. The FXC platform was designed by traders, for traders, and is suitable for beginners.

Forex Bonus

FXCentrum offers a 100% first deposit bonus. To claim the bonus, you need to register, complete the KYC process, and fund your account.

FXCentrum Banner 1

Account Types

FXCentrum has 5 main trading accounts. All of them come with zero commission, STP execution, and high leverage. Hedging is allowed. Here are the details.

Account

Spreads

Lots

Leverage

Commission

Standard (FXC)

Zero

0,3 pips

0..1 lots

1:1000

No Commission 

Special (FXC) Retention Zero

0.2 pips

0.1 lots

1:1000

No Commission 


Micro (MT5)

Zero

2.0 pips

0.01 lots

1:1000

No Commission 

Standard (MT5)

Zero

0.3 pips

0.1 lots

1:1000

No Commission 

Special (MT5) Retention Zero

0.2 pips

0.1 lots

1:1000

No Commission 

Standard ZERO Account – FXC Trader

This is their best option for beginners. It comes with an average spread of 0,30 pips on EURUSD and 0,50 pips on GBPUSD. There are no commissions. It also comes with high leverage of up to 1:1000. The minimum open position is 0,10 lot and the minimum deposit is $10. This account is only available on the FXC Trader platform.

Retention Special ZERO Account – FXC Trader

This is a great option for traders with more capital. It comes with an average spread of 0,20 pips on EURUSD and 0,40 pips on GBPUSD. There are no commissions. It also comes with high leverage of up to 1:1000. The minimum open position is 0,10 lot and the minimum deposit is $1000. This account is only available on the FXC Trader platform.

Micro ZERO Account – MT5 Platform

As the name suggests, this is their micro trading account. It comes with an average spread of 2,00 pips on EURUSD and 2,00 pips on GBPUSD. There are zero commissions. It also comes with high leverage of up to 1:1000. The minimum open position is 0,01 lot and the minimum deposit is $10. This account is only available on the MT5 platform.

Standard ZERO Account – MT5 Platform

This is a great account for new traders. It comes with an average spread of 0,30 pips on EURUSD and 0,50 pips on GBPUSD. There are no commissions. It also comes with high leverage of up to 1:1000. The minimum open position is 0,10 lots and the minimum deposit is $10. This account is only available on the MT5 platform.

Retention Special ZERO Account – MT5 Platform

This is a good option for traders with more capital. It comes with an average spread of 0,20 pips on EURUSD and 0,40 pips on GBPUSD. There are no commissions. It also comes with high leverage of up to 1:1000. The minimum open position is 0,10 lot and the minimum deposit is $1000. This account is only available on the MT5 trading platform.

Fund Safety

FXCentrum takes client fund safety very seriously. They separate client funds are from their own company funds and keep them in separate bank accounts. This ensures that FXCentrum can’t use client funds for company purposes. They also offer client fund protection.

Deposits & Withdrawals

FXCentrum accepts bank wire transfers, credit cards, debit cards, and crypto payments. They also accept payments from Online Naira, Korapay, Zotapay, and Perfect Money. There are no deposit fees.

Education

FXCentrum offers good forex education. They understand how important it is for traders to have access to the right resources and for them to help traders develop the skills they need to trade successfully.

They offer a wide range of free webinars, online articles, and video tutorials. FXCentrum covers a wide range of topics including how to open an account, how to set up your trading platform, and how to make your first trade. They also cover important topics related to fundamental analysis, technical analysis, risk management, and trading psychology.

FXCentrum also offers free educational courses. If you are looking for face-to-face training, you can sign up for one of’ their free seminars. They offer many events throughout the year. The seminars are open to anyone interested in learning about forex trading. You can find their list of upcoming seminars online and, if there is one nearby, you can register for a place online.

FXCentrum

Trading Tools

FXCentrum offers a nice range of trading tools including indicators and oscillators.

Economic Calendars

They offer a free economic calendar to help you keep up with market news. The calendar covers many important economic data releases from around the world. It also includes detailed explanations and forecasts of each data release. As such, it makes staying on top of market news much easier.

Trading Signals

They also offer free trading signals on Telegram. The signals cover a wide range of markets including forex and crypto. They provide all the information you need to trade including recommended entry, stop-loss, and take-profit levels. They also provide timely updates.

Documents

To sign up for a live trading account you’ll need to provide a proof of ID and a proof of address. This is so that FXCentrum can confirm your identity. You can send them copies of your National ID card, Passport or Driving License . You can also send them copies of a utility bill or a bank statement.

FXCentrum Customer Support

FXCentrum offers great customer service. They have a good support team and their staff will help you with any queries you may have. They speak several languages and are available 24/5, Monday to Friday. You can contact them during their working hours via email, phone and live chat.

Conclusion

FXCentrum is a reputable, trustworthy forex broker. They offer a wide range of trading accounts, all of which come with fast trade execution and low trading costs. They give traders access to a wide choice of trading instruments and to powerful online trading platforms. As such, they offer some of the best trading conditions in the forex industry.

FXCentrum offer a secure online trading environment with a good level of client fund protection. They also provide forex education and trading support. They offer a wide range of online learning resources and trading tools to ensure that their traders know how and when to trade. As such, they are a great choice for new forex traders in Nigeria.

Ready to start trading? Register for a FXCentrum account. Looking for something else? Check out our other forex broker reviews.

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