Having a license is a mandatory attribute for any safe and verified broker. However, TheFinancialCentre seems to think differently, calling itself a transparent and customer-oriented brokerage organization, without possessing regulation from controlling authorities. When you search for them on Google, information appears that the company has an average rating of 3.43 stars from 67 reviews. So what’s the reality? Is it a scam or a reliable broker? Let’s dive in and unravel the truth.
Table of Contents
Highlights
| 🏛️ Country | St. Vincent and the Grenadines |
| ⚠️ Regulation | – |
| 🖥️ Website | financialcentre.com |
| 🎲 Demo Account | No |
| ⏳ Start Time | 2021 |
| 💲 Minimum Deposit | $250 |
| ⚖️ Minimum and Maximum Leverage | 1:30-1:500 |
| ⚙️ Trading Platform | WebTrader |
| support@financialcentre.com | |
| 📞 Phone | – |
First Impression of Financialcentre.com
Upon arrival, a visually stunning and unique official website greets us. Embedded videos create a distinctive impression, a rarely used feature, even though it adds an extra load to the browser. From a visual standpoint, TheFinancialCentre has put in an admirable effort. However, regarding the structure of the site, everything seems horrifically misaligned and inconvenient.
The menu with sections is positioned on the right side of TheFinancialCentre’s site, and not all the information is available there. For example, sections like “About us” and “Contact us” are only found at the bottom. The choice of font is ill-advised, being either too large or too small in various places. To ruin an intriguing idea filled with videos and beautiful images with poorly chosen fonts, color schemes, and structure takes a special kind of failure.
Partnership and Bonuses
TheFinancialCentre is offering a partnership program that seems intriguing. Here’s how it works. A client who invites a partner through their referral link will receive 10% of the referral’s deposit, with the total earnings capped at $25,000. Additionally, the referral will gain a 5% bonus on all their deposits. There’s a catch, though – the minimum amount required to participate is $1,000.
However, a deeper look into this partnership program raises some eyebrows. The reward is paid as 1/10 of the invested deposit, which creates some questions. Are the earnings for TheFinancialCentre from the client’s money or commissions? If it were from commissions, like any legitimate broker, then the rewards would be paid from those commissions and spreads, which serve as the firm’s income. That’s not the case here. Upon further examination of the partnership program’s terms, we can conclude that we’re dealing with a Dealing Desk.
Account Opening on Financialcentre.com
Registering an account with the company is simple. Just fill in the information and agree to the firm’s terms. The broker doesn’t require email or phone number verification before accessing the personal account, a significant lapse in security.
TheFinancialCentre’s account doubles as both a dashboard and trading platform. Users can effortlessly manage deposits, withdrawals, personal information, and verification, all while keeping track of referral stats. Additional features include customizable notification settings, the ability to save a Bitcoin wallet address, and access to various documents and regulations.
Verification
The verification procedure is conducted through the user’s account. TheFinancialCentre adheres to AML & KYC policies, so it requires verification from every client. The necessary documents include:
- Identification proof.
- Confirmation of residential address.
- Additional documents depend on the method of account funding.
- None.
- Requires a lot of data.
- Requires you to take a picture of your bank card.
Trading Software
As previously mentioned, TheFinancialCentre’s trading terminal is embedded in the trader’s account. The platform is rather primitive, and it cannot be described as professional or advanced. Experienced traders will find this software unsuitable because it lacks features like a depth of market, an order book, stop-trailing capability, and the ability to load custom indicators. The platform supports basic tools for technical analysis and a few key indicators. Users can also view current orders, trade history, and transactions. Many clients may find the trading and bonus statistics useful.
How to access TheFinancialCentre’s mobile platform or whether it even exists is unknown, as there is no information about mobile trading on the site. Additionally, the software cannot be downloaded to a PC. It is only available as a WebTrader. The broker does not offer any alternatives, although it would be nice if they did. The platform significantly lags behind popular terminals, such as MetaTrader.
| Features | TheFinancialCentre | Vantage Markets | Odyssey Investment Group |
|---|---|---|---|
| Demo Account | ❌ | ✔️ | ❌ |
| Mobile App | ❌ | ✔️ | ❌ |
| Own Development | ❌ | ✔️ | ✔️ |
How Can I Trade With TheFinancialCentre?
TheFinancialCentre allows trading exclusively with CFD, and futures or spot trading are not available here. Clients have access to leverage, and the size of the spread and the range of additional services depends on the selected tariff plan.
All Info About Accounts
The minimum deposit size is $250 at TheFinancialCentre, with more services and better conditions for higher account types. There are five trading account options:
- Basic. Minimum deposit of $250. Auxiliary resources include a one-on-one academy, an introductory terminal guide, assistance with cryptocurrency wallets, spreads from 3.0 pips, and flexible leverage up to 1:30.
- Silver. From $10,000. In addition to “Basic” benefits, there’s assistance from a personal manager and spreads from 2.4 pips.
- Gold. From $50,000. It includes professional tool training, live webinars, spreads from 1.9 pips, and leverage expanded to 1:400.
- Platinum. From $100,000. The same possibilities as in “Gold,” but also exclusive events, priority withdrawal, and spreads from 1.2 pips.
- VIP. For capital of $250,000 and more. Features include phone signals for selected assets and spreads from 0.6 pips, and leverage expanded to 1:500.
The terms at TheFinancialCentre seem odd and unreasonable. First, there’s the high starting deposit of $250, while most popular firms have lowered this threshold to $1-10 or even offer a cent account. Then, there’s a puzzling structure in the leverage. Why can’t clients with less than a $10,000 deposit have leverage higher than 1:30? It would surely be needed. However, with $50,000, or more, you get a leverage of 1:400, even though traders at this level usually don’t need more than 1:10. Finally, newcomers are disadvantaged in the array of additional services. The company seems to be enticing money out of people, offering a variety of services in exchange for substantial deposits. It’s a strategy that leaves more questions than answers.
- There are auxiliary tools: training, signals, and instructions.
- Require a high amount for the initial deposit.
- No demo and Islamic accounts.
- The disadvantage of beginners, and the focus on rich traders.
- Absurd limitation in leverage.
Market Analysis and Education With Financialcentre.com
TheFinancialCentre offers more than just the basics. Along with a news feed, FAQs, current cryptocurrency quotes, and educational videos available for free to all users, there’s something exclusive too. If you’re a “Silver” account holder, you can order your very own personal debit card. With this card, you can spend digital currency just like traditional fiat money. Curiously, the broker doesn’t reveal the name of the debit card issuer.
Deposit, Withdrawal, and Fees
TheFinancialCentre provides the option to deposit funds using credit/debit cards and cryptocurrencies (BTC, ETH, USDT ERC-20, USDC). For the latter, users receive a one-time system-generated cryptocurrency address to which they need to transfer funds via the required blockchain. Bank transfers are also mentioned, but strangely, this feature is nowhere to be found in the user dashboard. Adding to the ambiguity, transaction fees remain undisclosed. And it’s not even surprising.
| Features | TheFinancialCentre | Vantage | Gainful Markets |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ✔️ | ✔️ |
| Electronic Payments | ❌ | ❌ | ❌ |
| Crypto Transfers | ✔️ | ❌ | ❌ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ❌ | ✔️ | ❌ |
How Can I Contact It?
Contacting TheFinancialCentre’s managers is a perplexing task. There’s only an email address provided, which turns out to be non-existent. The company has not given a phone number; instead, they’ve presented a fake email address.
- None.
- A fake email.
- No phone number, online chat, and social media.
Is TheFinancialCentre Dangerous?
As we delve into the trading conditions of TheFinancialCentre, it’s not hard to notice that the company seems suspicious. With inappropriate terms, a fake email address, and a Dealing Desk business model, red flags abound. What else might this broker have in store? Let’s get to the sweetest part.
How Long Does The Broker Work?
On the official website, in the “blockchain banking” section, there’s information suggesting that TheFinancialCentre began operations in 2001, yet there’s no evidence to support this claim. While the domain was registered in 2000, its current design didn’t appear until 2021. It leads to the possibility that scammers bought the domain in 2021 and turned it into a brokerage site. Reviews about the firm also started circulating during the same period, adding to suspicion.
How Is TheFinancialCentre Regulated?
TheFinancialCentre is silent about licenses; this aspect is completely omitted on the site. The broker’s user agreement states that the relationship between the parties shall be governed by and construed in accordance with the laws of St. Vincent and the Grenadines. However, if the company’s specific legal address is missing, there’s no point in checking specific financial commission registries. The firm is not regulated by the SVGFSA and generally operates without regulation. If it had indeed obtained licenses, you can be sure that information would have been prominently displayed on the main page of the website.
| Features | TheFinancialCentre | FxPro | Sollari |
|---|---|---|---|
| European Zone | ❌ | ✔️ | ❌ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ✔️ | ❌ |
| Offshore | ❌ | ✔️ | ❌ |
Frequently Asked Questions (FAQ)
Kevin Berry A crafty move by the scammers: buying an old domain that’s over 20 years old and with such a name, then bulk purchasing fake positive reviews online. Unfortunately, many newcomers might have fallen for that fraudulent scheme and parted with their money. Hopefully, it served as a valuable lesson from which they drew the necessary conclusions. TheFinancialCentre is a representative of scam brokers, deceiving people with the sole aim of getting their money. Talk of license, reliability, security, or profitability is out of the question. It’s all about scams and theft.
TheFinancialCentre rating
4 reviews about TheFinancialCentre
Hello. TheFinancialCentre is a den of thieves, swindlers, and scammers. It’s a run-of-the-mill scambroker, indistinguishable from others of its fraudulent kind. From fake quotations to the impossibility of recovering funds, it displays all the classic warning signs.
Keep your money far away from thefinancialcentre. I believed the tale-tellers on various websites who praised this company, calling it profitable and top-notch, so I invested over $2,500. And what’s the result? Now I can’t even withdraw my money. First, they blatantly misled me with fake quotes, and now they’re ignoring me, refusing to let me take out my funds. Is this normal? I don’t think so. At least respond to the feedback form, because the email is fake, and it’s pointless to expect a reply to it, as I’ve already learned. My experience with TheFinancialCentre was quite a sad one. As an experienced trader, I can’t recommend this company for trading; otherwise, you’ll face the same problems I did.
Trading through this broker is utterly futile. The platform is subpar, terrible, and shoddy, plagued by significant delays and technical glitches. Spreads are way higher than 3 pips, with major currency pairs running from 4-5 points. I dread to think what the spreads are on cross-pairs and other asset classes – they’re simply excessive. And on top of that, you have to pay commissions. I couldn’t make a profit, even though I had been a successful trader for two years before coming here.
It’s amusing to see a swarm of bots writing identical reviews about TheFinancialCentre. All these comments are just 3-4 lines long, devoid of any specifics or useful information. Even at a glance, you can see how scammers are actively pushing their fake brokerage services online, trying to lure as many trusting people as possible, only to defraud them later.
So, my first piece of advice is to ignore these deceptive positive reviews, which are clearly fake. If you carefully and independently examine TheFinancialCentre’s website, you’ll understand why it’s a run-of-the-mill fraud broker. 1) There’s no license whatsoever. 2) They don’t even list how long they’ve been in business. 3) The legal address is missing. 4) Legal documents are absent as well. Any questions? There’s no doubt that we are dealing with plain and simple swindlers and cheats.