TradeCentrum Review – high fees and minimum withdrawal

TradeCentrum.com is a CFD broker that offers to trade CFDs on forex, stocks, indices and commodities. Learn more about CFDs here. This company is a brand of Goldenburg Group Ltd., the latter is licensed in Europe by the Cypriot regulatory authority CySEC, so the broker can legally offer its services in Europe. Other brokers such as CFD World, etrader.eu, FX Global and TopForex are also under Goldenburg Group Ltd. The minimum deposit for TradeCentrum broker is set at $100.

TradeCentrum Review – Broker overview

Minimum deposit	100 USD
Platform	MT5
Regulated broker	Yes
Regulations	CySEC
Demo account	Yes

Special features and advantages

Automatic Trading (EAs)

Trading platform

TradeCentrum offers its clients the MT5 trading platform. This platform serves very well not only to open and close trades, but also to analyze the markets. MT5 also supports automated trading systems (EAs). You can either trade directly from a web browser, or you can download the platform to your computer or mobile device. TradeCentrum offers 800 underlying assets for trading.

TradeCentrum fees (spreads)

Like any other CFD broker, TradeCentrum charges a spread fee. For the current value of this fee, please visit TradeCentrum’s website. We have prepared a small comparison table here, where you can find the amount of TradeCentrum spread fees on popular currency pairs compared to 2 other popular CFD brokers.

EUR/USD	EUR/USD	USD/JPY	GBP/USD	AUD/USD
Plus500*	0.6	0.7	1.1	0.6
XTB*	0.8	1.4	2.0	1.7
TradeCentrum**	3.0	7.0	7.0	10.0

TradeCentrum – Review summary

TradeCentrum must comply with the strict regulatory guidelines of the CySEC regulatory authority. The broker offers the MT5 trading platform and a free limited-time demo account. The minimum deposit with TradeCentrum broker is $100, this amount is valid when depositing using a credit card or DotPay, when using bank transfer the minimum deposit is $250. Keep in mind that when withdrawing funds the broker allows you to use only one payment method – bank withdrawal, the minimum amount for withdrawal is $250, lower amounts cannot be withdrawn. The broker does not charge any withdrawal or deposit fees.

Moreover, the fees (spreads) that the broker charges are significant compared to other companies in the industry. We also lack CFDs on cryptocurrencies.

Advantages

• Relatively strict regulation
• Demo account
• No deposit or withdrawal fees

Disadvantages

• Very high fees
• Quite high minimum deposit
• Even higher minimum withdrawal
• No cryptocurrencies on offer

TradeCentrum Review – Broker rating