Centaxa Review: A Closer Look at the Red Flags

Centaxa is an online brokerage that has caught the attention of traders due to its claims of offering low fees, a wide range of trading instruments, and advanced trading platforms. However, as with many brokers, there are growing concerns about its legitimacy. In this review, we will delve into the key aspects of Centaxa to determine whether it’s a trustworthy broker or a potential scam. 

Brief Overview of the Broker

The Centaxa website is extremely uninformative. The broker does not disclose how long it has been providing brokerage services. The platform lacks information on its management team, payout statistics, and any reputable awards. Only dubious operations tend to follow such a secretive policy. Initial reviews of the company began appearing in 2024, and a WHOIS check shows that centaxa.pro was registered in December 2023. This suggests that the promoters are only recently pushing their offer, hoping to attract inexperienced users who may fall for empty promises.

What About Licensing?

Centaxa claims to hold client deposits in banks with the highest level of security and states that it is a member of The Financial Commission. However, there are no documents to verify this claim. The company also states that it is registered and regulated in Saint Vincent and the Grenadines. It should be noted that this is an offshore jurisdiction where brokerage organizations are generally not subject to regulatory oversight, as indicated by a warning on the official website of the supervisory authority.

Trading Conditions

Centaxa claims that users can start with a demo account; however, reviews indicate that clients are often quickly encouraged to switch to real investments. The main terms of their offer are as follows:

• Trading a variety of instruments (in addition to currency pairs, this includes metals, stocks, cryptocurrencies, and CFDs on over 390 assets);
• Four account types with minimum deposits ranging from $250 to $10,000;
• Leverage up to 1:200;
• Spreads starting from 1.8 pips;
• Base account currencies: USD, EUR, BTC;
• Webinars with a personal analyst;
• Depending on the account tier, clients may receive zero-commission trading, daily market analysis, and signals from Trading Central.

Fraud scheme of Centaxa

Centaxa promises qualified support, but instead imposes fake recommendations on all registered users. No one is going to bear financial responsibility for this. As a result, the scammers steal other people’s money with impunity, using a manipulated platform. The loss of money is attributed to the general fall of the market and they offer to try their hand again. This continues until the victim’s wallet is empty. It is possible to get the money back only through a chargeback service, but even then, there is no 100% guarantee.

Summary  

While Centaxa may seem appealing at first glance with its wide range of trading instruments and low minimum deposit, the broker raises significant red flags. Its lack of regulation, unclear fee structure, and poor platform performance make it a questionable choice for traders, especially those new to the market.

If you’re considering using Centaxa, proceed with caution. There are much more reputable and regulated brokers available, which offer better security, transparency, and support. Ultimately, Centaxa’s lack of oversight and numerous negative reviews suggest it is not a reliable platform for trading.