Brief Look at eXcentral
eXcentral, operated by Mount Nico Corp Ltd, has ceased operations. In May 2022, CySEC (Cyprus Securities and Exchange Commission), which had issued eXcentral’s license, fined the company €290,000 for violations of local investment services laws. Subsequently, eXcentral submitted a request to CySEC for voluntary license relinquishment and discontinued its services, as stated on their official website. The statement also indicated that all open positions were closed and access to trading accounts was terminated. Clients with available balances were advised to contact the provided email address for withdrawal processing.
Despite the notification on the broker’s official website, clients faced difficulties in recovering their funds after the closure. Online reviews detail specific loss amounts and complaints about the company’s lack of communication.
Ultimately, eXcentral no longer provides services and has suspended operations due to investment legislation violations and subsequent penalties imposed by CySEC.
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