Beware! Century Financial is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Century Financial is a UAE based forex and CFD broker. Although this broker is licensed and established in the local market, it should be noted that it is suspiciously opaque about the terms of the services it offers.
Century Financial Regulation and safety of funds
The most important information about a financial services provider is its regulatory status. Licensed brokers provide detailed information about which company runs them, where it is based, which jurisdictions it is authorised in and which regulatory bodies oversee its activities.
Century Financial is a trading name of Century Financial Consultancy LLC, a company based in the United Arab Emirates.
The broker has the required licence from the local financial regulator, the Securities and Commodities Authority. This means that the company must maintain a minimum capital and provide guarantees such as segregating client funds from the company’s operating cash. But it should be noted that the guarantees and benefits are weaker than in other regulated jurisdictions such as the EU or the UK.
If you are a resident of the UAE, it is also good to know that you have the opportunity to use the services of leading global brands that operate in this market.
Century Financial Trading software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|Century Financial platforms||✅||✅||✅||✅|
|MT4||30+ indicators||✅||✅||Android and iOS|
|MT5||50+ indicators||✅||✅||Android and iOS|
|cTrader||40+ indicators||✅||✅||Android and iOS|
Century Financial advertises that it offers multiple trading platforms, including the industry’s most popular trading software, MetaTrader 5 (MT5).
But here we come to the first big problem with this broker – even Demo account registration requires approval. Most brokers allow easy and hassle-free registration of a Demo Account, through which the client can familiarise himself with the services offered.
Century Financial Trading instruments
Century Financial offers trading in a large number of currencies, stocks, indices, commodities and ETFs. But the broker provides absolutely no information about the trading conditions.
When you visit the website of an established broker you will find proposals for different types of trading accounts suitable for investors with different preferences, as well as detailed descriptions of trading parameters – minimum deposit, order execution method, tradable financial instruments, leverage, spread, swap, commissions, etc.
Century Financial Spreads and cost of trading
The leading brands offer very advantageous conditions. We don’t know what price the customers of Century Financial pay.
Century Financial Maximum leverage
|Century Financialr||Not specified||Not specified||Not specified||Not specified||Not specified|
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses
Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.
If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.
Century Financial Deposit and withdrawal methods
Century Financial does not provide information on payment methods. Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller.
Century Financial Minimum deposit
Century Financial states that it does not require a minimum deposit. But the same goes for many of the more established competitors.
Century Financial Withdrawal requirements
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|Century Financial||Not specified||Not specified||Not specified|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|
Since Century Financial does not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Typically, fake brokers make withdrawing money impossible through huge fees and impossible-to-fulfil traded volume conditions.