About the company

Mount Nico Corp Ltd, based in Cyprus, operates eXcentral, which offers over 160 assets, including 46 major, minor, and exotic currency pairs, as well as five cryptocurrencies. There are another 12 indices, with equities from more than 75 different companies. Traders can also diversify their portfolio by selecting from a list of 19 commodities, which include precious metals, energy, and agricultural assets.

The Cyprus Securities and Exchange Commission, under license number 226/14, has authorized and regulated The broker, which also adheres to EU laws and shares client funds with reputable financial institutions.

Account types

Classic, Silver, Gold, and VIP are the four account kinds offered by the company. Although it is free to open an account, the broker requires a minimum deposit of USD / EUR / GBP 250 to begin trading. The only major difference between the accounts is the addition of features like webinars, account managers, and trading signals, in addition to the more competitive spreads on VIP accounts. The only difference between the Classic and Silver accounts is the addition of Silver tutorial videos.

Overall, consumers believe that four different accounts are superfluous. Given that the minimum deposit for all alternatives is the same, a VIP account would be an excellent decision.

Unfortunately, the broker does not provide a demo account for beginners in trading.

Trading platforms

EXcentral’s proprietary trading platform was created with ease of use in mind, with web browser compatibility and no need to download anything. On a user-friendly control panel, the platform offers a broad range of trading assets.

• Over 100 technical indicators
• one-click execution
• 7 types of charts
• 9 timeframes
• Take profit and stop loss functionalities

For iOS and Android devices, the broker offers eXcentral Mobile Trader. Users may trade on the go without losing access to significant features. All fundamental and technical analysis tools, as well as real-time predicted profit and loss calculations, instant market execution of all orders, and comprehensive transaction history, are available to mobile traders. Traders also have access to a specialized account manager and have high mobility between assets and transactions.

The MT4 platform is the best option for people who want to use automated trading methods. Personalized advisors and strategy testing are available on the platform. Traders can also use 30 built-in indicators, 9 timeframes, three execution modes, and four different order types.

The broker also has an MT4 mobile app that can be downloaded from the App Store or Google Play. Traders get access to many of the same features and tools as those found in the desktop solution, as well as financial news and complete account management.

Spreads and commission

Except for stocks and cryptocurrencies, which are charged at 0.8 percent of the asset’s par value, commissions are included in the spread on eXcentral. On a classic account, the spreads are roughly 2.5 pips for EUR/USD and $ 0.10 for crude oil. With a VIP account, spreads are reduced to roughly 0.9 pips.

A swap charge, which is the interest added or subtracted while a position is held overnight, is another fee. There is also a monthly maintenance fee of $ 10 / € / GBP and an inactivity fee of US $ / € / GBP 80 if the account is idle for more than two months.

Leverage

For forex trading, the highest retail leverage permissible is 1:30. You can utilize the leverage of up to 1:20 for indices and select commodities, up to 1:5 for equities, and up to 1:2 for cryptocurrencies. For Forex products, professional clients can employ leverage of up to 1: 400.

Payments and withdrawal

Credit/debit card, bank transfer, Skrill, and Neteller are all options for funding in USD, GBP, or EUR. The minimum deposit is $250 in the chosen currency for all methods. There are no deposit fees at this firm. Withdrawals must be processed in the same manner as deposits. For bank transfers, the minimum withdrawal amount is 100 EUR / USD / GBP, and for cards, the minimum withdrawal amount is 10 EUR / USD / GBP. In the case of e-wallets, there is no minimum withdrawal amount, albeit it should cover the cost of the transfer. The commission is 3.5 percent for cards and Neteller, 30 percent in the specified currency for bank transfers, and 2 percent for Skrill, according to the withdrawal policy. After processing, bank transfers normally take 3-5 business days, and bank transfers take 5-7 business days.

Additional features

eXcentral provides a wide range of instructional materials. Informative videos covering all levels of trading methods may be found in major online forex courses. In addition, there are MT4 video tutorials, weekly live webinars, a blog, and daily alerts. The economic calendar on the home page is also a valuable tool for keeping up with current happenings throughout the world.