Centralplusfinance.com review – 5 things you should know about Central Plus Finance

Beware! Centralplusfinance.com is an offshore broker! Your investment may be at risk.

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Centralplusfinance.com, or Central Plus Finance, claims to be an established broker known for its customer-oriented focus. But this suspicious website is actually completely unknown. Closer inspection reveals numerous clues that this is nothing more than yet another online scam. In this review, we will take a closer look at how to distinguish such fraudulent schemes from the truly established and trustworthy forex brokers.

Centralplusfinance.com 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.

Centralplusfinance.com is virtually anonymous. The alleged company behind this website, Central Plus Finance Limited, is mentioned only once in the Terms and Conditions. But it is not clear where this company is based and what regulatory oversight it is subject to. In fact, we have no evidence that such a company actually exists. Nowhere is a contact address and applicable jurisdiction specified.

The UK’s financial regulator, the Financial Conduct Authority (FCA), has issued a warning to investors that Centralplusfinance.com is not an authorised investment firm.

Before investing your money in financial instruments, it is imperative to make sure you do so through a licensed intermediary and not one of the many scammers lurking online.

If you want to trade on financial markets without being scammed, you can turn to some of the legitimate brokers that actually operate from established financial hubs like the UK. These brokers have to meet stringent requirements for financial stability and transparency of operations imposed by the Financial Conduct Authority (FCA). They must provide clients with negative balance protection and to participate in a guarantee fund that covers up to GBP 85,000 of a client’s investment should the broker go into insolvency. These brokers are also required to keep their clients’ money segregated from their own operating funds in separate bank accounts.

Centralplusfinance.com Trading software

Centralplusfinance.com  has a standard web-based trading platform. Here is how it looks like:

While the platform has the basic features for placing orders, customising charts and application of technical indicators, it lacks the more advanced functionality found in the most widely used trading platforms in the industry, MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

It should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading. Many scammers use rigged trading software to fool their victims that their money is being invested.

Centralplusfinance.com Trading instruments

In theory, Centralplusfinance.com  offers trading in all major asset classes. But we have no reason to believe that the trading offered by this unlicensed website is real and not fictitious.

Centralplusfinance.com Spreads and cost of trading

The website lacks specific information on the cost of trading. In the trading platform we see an extremely high spread of 3 pips. This is double the typical industry spread and is very disadvantageous to the trader.

Centralplusfinance.com Maximum leverage

Centralplusfinance.com claims to offer leverage up to 1:1000. Regulated brokers do not offer such levels to retail traders as trading with high leverage carries risks of sudden and excessive losses. Higher levels of leverage are only offered to professional clients who trade entirely at their own risk.

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.

Centralplusfinance.com Deposit and withdrawal methods

Centralplusfinance.com deposit menu redirects to a different website, academy-investing.com, where we are offered financial literacy courses. This website is also anonymous and more than suspicious. At this point, there is no reason to doubt that Centralplusfinance.com is indeed a scam scheme.

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.

Centralplusfinance.com Minimum deposit

Centralplusfinance.com specifies a minimum deposit of 250 GBP, which is the industry standard. But this means that for the same amount you could open a trading account with an established and duly licensed forex broker. Some of the leading brands in the industry offer Micro and Cent accounts with a very low entry threshold that are suitable for novice investors.

Centralplusfinance.com Withdrawal requirements

Centralplusfinance.com does not specify special conditions for withdrawal. But these types of scams always surprise you with hidden fees and other tricks that prevent you from withdrawing your money back.