CentFX Broker Review: Legit Broker or Just Another Scam?
5.2

CentFX Broker Review: Legit Broker or Just Another Scam?

5.2/10 (Expert Score)
Product is rated as #43
Trust & Regulatory Status
4.8
Tradable Instruments
5
Fees
5
Account Types
4.2
Platform and Tools
5.7
Deposit and Withdrawal
5
Customer Support
5.9
Research and Education
5.3
Mobile Trading
5
Security
5.5

Cent Fx Overviews


CentFX is a Forex and CFD broker launched in 2022, operating via the MetaTrader 5 platform. It is registered in Anguilla and Mauritius and also holds US MSB registration. With over 400 tradable instruments—including forex, indices, metals, and cryptocurrencies—CentFX delivers zero‑spread ECN trading, swap‑free Islamic accounts, and multi‑jurisdictional licensing. Its low minimum deposit and high leverage make it appealing to a wide range of traders.

CentFX Broker Review:  Legit Broker or Just Another Scam?

CentFX is an international online trading provider, established in 2022. Registered in Anguilla through the Anguilla Registry of Commercial Activities (ARCA) under registration number A000000971, the company also operates as Cent Market Limited in Mauritius, holding an Investment Dealer (Full Service Dealer, Excluding Underwriting) licence (GB23201644) from the Financial Services Commission (FSC) since November 23, 2023. Additional offices span Dubai’s Exchange Tower, and it is registered in the US as a Money Services Business (MSB) by the Treasury Department (Reg. No 31000280998965).

Created by veteran traders, CentFX is built around principles of trust, quality, and reliability. It aims to serve both retail and institutional clients globally, offering a broad portfolio of currency pairs, CFDs on stocks, indices, commodities, and metals. The company leverages the popular MetaTrader 5 platform, available across desktop, web, and mobile, and supports algorithmic tools such as Expert Advisors (EAs).

CentFX boasts over 18 industry accolades – including “Best Forex Broker Asia 2025,” “Most Transparent Broker,” and “Fastest Growing Broker” at expos across Dubai, Abu Dhabi, and Asia. These honours underscore the broker’s market visibility and commitment to innovation.

Key features include competitive and zero spreads on ECN and standard accounts, high leverage (up to 1:1000), swap-free Islamic options, and a diverse affiliate program. The broker claims strong liquidity via partnerships like LMAX Group, and transparent funding with no deposit or withdrawal fees (excluding third-party charges).

CentFX also emphasises multilingual, 24/5 customer support accessible via live chat, phone, and email, backed by a centralized help center and legal transparency through accessible documents like AML, privacy, and risk-disclosure policies. Demonstrating its educational commitment, the “Cent Academy” provides training resources for traders of all levels.

While the primary market is retail trading, CentFX extends an institutional branch through its customizable account types and liquidity solutions. It excludes services in some jurisdictions like the US, Cuba, North Korea, Sudan, among others – reflecting operational and regulatory boundaries.

In summary, CentFX positions itself as a regulated, globally accessible Forex and CFD broker with a modern MT5 platform, competitive trading conditions, strong regulatory credentials, and a growing reputation in the industry. Its combination of professional structure, award-winning execution, and extensive service coverage make it a compelling option for both novice and advanced traders.

CentFX Broker Review: Legit Broker or Just Another Scam?

Pros and Cons


PROS
  • Competitive spreads starting from 0.1 pips on ECN and standard accounts
  • Full MetaTrader 5 support across desktop, web, and mobile including EAs and advanced charting
  • High leverage available up to 1:1000
  • Multiple licences in Mauritius and Anguilla and MSB registration in the US
  • No broker-charged deposit or withdrawal fees
  • Offers negative balance protection
  • Multilingual 24/5 customer support via live chat, phone, and email
CONS
  • Licences stem from smaller jurisdictions rather than top‑tier regulators like the FCA or ASIC
  • Trustpilot user rating is mixed at around 3.4/5 with some complaints about service and withdrawals
  • Limited transparency regarding execution speed, slippage, and fund segregation
  • Some users report slow or inconsistent withdrawal processing times
  • Uses only MT5 platform and lacks a proprietary or branded trading platform

What are traders saying about this broker?

Overall Sentiment

Positive 70%
Neutral 20%
Negative 10%

Category Breakdown

Powered by BrokerSentiment.com

Is Cent Fx Safe? Broker Regulations


CentFX asserts that it holds licenses from multiple jurisdictions—Anguilla (ARCA) and Mauritius (FSC)—and maintains registration as a Money Services Business (MSB) in the US. However, independent scrutiny raises serious concerns about the validity and recognition of these regulatory claims.

  • Several third-party reviews indicate CentFX lacks regulation by recognized authorities such as the FCA or ASIC, and some dispute the legitimacy of licenses it claims.

  • The firm appears not to disclose a verifiable physical address or management details, which undermines confidence in transparency or accountability.

  • While CentFX reports using segregated accounts for client funds and claims a zero-fee policy, it does not clearly document whether its fund protection practices comply with international standards or regulatory audits.

Negative Balance Protection
CentFX promotes negative balance protection, meaning clients cannot lose more than their deposited funds. This feature is positive in theory, helping manage trader risk. However:

  • The practical effectiveness of this protection is dependent on the broker’s regulatory oversight and internal risk management.

  • Given the lack of third-party verification and the offshore-only regulatory structure, traders may still face potential exposure if CentFX’s systems or policies fail to execute properly .

Security Measures & Data Protection
The broker highlights encryption, AML policies, and legal disclosures on its website, yet:

  • Independent sources note limited transparency into execution quality, slippage rates, and actual implementation of security protocols .

  • There are no third-party audits or recognized investor compensation schemes publicly documented, which might otherwise strengthen trust.

How to Trade with Cent Fx?


CentFX offers a wide selection of over 400 tradable instruments, primarily in the form of CFDs across key asset classes. According to official documentation and reputable third-party summaries, these include the following:

  • Forex: Hundreds of currency pairs including major, minor, and exotic pairs.

  • Indices: CFDs on major global indices such as S&P 500, Dow Jones, Nasdaq, FTSE, and others.

  • Precious Metals: CFDs on gold, silver, and platinum.

  • Cryptocurrencies: Access to a portfolio of crypto CFDs including Bitcoin, Ethereum, Tether, Ripple, Litecoin, Dogecoin, USDC, Tron, Monero, Zcash, Stellar, and others (with more than 100 crypto pairs available).

Notably, CentFX does not support direct trading in underlying commodities, stocks, ETFs, bonds, or mutual funds—only CFD versions of instruments in these categories are offered.

Several features of the instrument offering stand out:

  • High leverage: Up to 1:1000 depending on account type. This high leverage allows amplified exposure but also increases risk.

  • Swap‑free Islamic account options: Available for eligible traders who prefer no overnight interest charges.

  • Copy trading capability: Users can replicate positions of successful traders using integrated social-trading features—ideal for beginners or those lacking trading confidence.

This mix of instruments and features caters well to both discretionary and algorithmic strategies, including scalping, swing trading, and automated trading using EAs on MetaTrader 5. While the absence of physical stock or ETF trading may limit traditional investors, CentFX’s offering is well-aligned with CFD-focused traders seeking diversified exposure across Forex, indices, metals, and crypto.

CentFX uses the MetaTrader 5 (MT5) platform across desktop, web, and mobile, featuring a full suite of tools for discretionary and automated trading.

1. Accessing the Platform

  • Download MT5 from CentFX’s Platform page for Windows, Mac, Android, iPhone, or use the web terminal.

  • Log in with your live or demo account credentials. Demo accounts are available instantly and remain active indefinitely.

2. Navigating User Interface

  • The toolbar gives instant access to chart types, timeframes, indicators, and order types.

  • Market Depth (Level II) data and real-time pricing help gauge liquidity before placing orders; particularly valued in ECN accounts.

  • One-click execution is supported on PC and mobile versions, simplifying fast order placement.

3. Placing Trades

  • Select your symbol (e.g. EUR/USD, Gold, BTC/USD), choose volume (starts from 0.01 lots or 1,000 units) and set desired leverage (up to 1:1000 on certain account types).

  • Choose your order type (market, limit, stop, stop-limit), optionally add stop-loss and take-profit levels.

  • Confirm and execute the trade via one-click button or order window.

4. Risk Management Tools

  • Use stop-loss, take-profit, and trailing-stop options to control exposure (trailing stop available in MT5).

  • Monitor margin levels: Margin call triggers at 100% and automatic stop-out initiates at 50% of margin level.

5. Advanced & Algorithmic Trading

  • MT5 supports algorithmic trading via Expert Advisors (EAs) programmed in MQL5. These can automate strategies, back-test, and manage orders.

  • Strategy Tester in MT5 allows backtesting over historical data, providing performance metrics and optimization features.

6. Additional Tools & Features

  • Economic calendar and trade signals are integrated into MT5 to inform decision-making.

  • CentFX offers copy‑trading features where users can follow or replicate successful traders directly via MT5 (social-copy available).

  • Execution speed is emphasized on their site—higher than MT4—and supports fast order entry and execution in volatile conditions.

7. Account Switching and Monitoring

  • Switch between demo and live accounts seamlessly within MT5.

  • Monitor open positions, equity, free margin, and margin level in real time; alerts can be configured via MT5’s notification system.

How Can I Open Cent Fx Account? A Simple Tutorial


Opening a live or demo account with CentFX is a straightforward, user-friendly process, designed to get you trading quickly. Here’s a step-by-step guide:

1. Register an Account

  • Visit the CentFX website and click “Register” or “Open Account” in the client portal.

  • Fill in personal details—full name, email, phone number—and create your portal password.

  • Confirm your email via the activation link to secure your account setup.

2. Select Account Type

  • After login, navigate to “Open Live Account”, select from Micro (from $10), Standard ($500), ECN ($5,000), or Custom ($10,000).

  • Demo accounts are also available and accessible immediately, with no deposit requirement.

3. Complete KYC Verification

  • Head to the Profile ➝ Compliance section in your portal.

  • Upload clear ID proof (passport or national ID) and address proof (utility bill or bank statement issued within the past 90 days).

  • Compliance may request region-specific documents; once submitted, verification typically takes from a few hours to 1–2 business days.

4. Deposit Funds

  • Once verified, deposit the minimum required for your chosen account type ($10 to $10,000).

  • Funding options include bank wire, credit/debit card, e-wallets, and crypto. Deposits typically process within 15 minutes to a few hours, depending on method.

  • CentFX does not charge deposit fees, though third-party charges (e.g., STICPAY fee) may apply.

5. Activate & Start Trading

  • Once funded, your account is live. Log into MetaTrader 5 using your account credentials.

  • Demo accounts remain accessible indefinitely for practice and strategy development.

  • Live trading begins immediately after funding is credited.

Verification & Compliance

  • CentFX enforces a one-account-per-KYC policy—duplicate submissions are not permitted .

  • A full KYC check ensures secure trading always, and is mandatory before live trading can start.

Timeline Summary

Step Timeframe
Registration & email Instantly
Demo account activation Immediately available
KYC document review Within hours to 2 business days
Deposit processing 15 minutes to a few hours
Live account activation Immediately after successful funding

Cent Fx Charts and Analysis


CentFX—via its MetaTrader 5 (MT5) platform—offers a powerful suite of charting and analysis tools suitable for traders at all levels:

  • Advanced Charting: MT5 includes 21 timeframes and over 80 technical indicators (e.g., Moving Averages, MACD, RSI), making it ideal for both detailed technical study and quick trend assessments.
  • Depth of Market (Level II): Live market depth data supports ECN trading, allowing users to assess liquidity and place orders with greater precision.

  • Expert Advisors & Algorithmic Tools: Full support for MQL5-coded EAs enables automated strategies, and the Strategy Tester allows backtesting with real historical data.

  • Integrated Economic Calendar and Trade Signals: Built directly into MT5, these features help traders stay informed on market-moving events and indicator-based alerts.

  • Robust Order Management: MT5 supports a variety of order types—market, limit, stop, stop-limit—and also allows trailing stops and one-click execution for fast entry and exit.

  • Cross-Platform Accessibility: Charts and analytical tools are consistent across desktop, mobile (iOS/Android), and web platforms, ensuring seamless workflow.

  • High Execution Speeds: CentFX reports sub-25 ms trade execution times via liquidity servers in LD4 London and SG1 Singapore, contributing to chart reliability during high volatility.

Practical Insights for Traders

  • Scalpers and day traders benefit from tight spreads, fast execution, and depth of market for quick trade planning.

  • Swing traders gain from multi-timeframe charts and economic calendar integration.

  • Automated and EA users find MT5’s backtesting and MQL5 support robust and user-friendly.

Areas of Improvement

  • The analytical toolkit mirrors standard MT5 offerings but lacks proprietary or broker-specific analytics enhancements.

  • There is no web-based proprietary charting platform—professional traders must rely entirely on MT5.

Cent Fx Account Types


Account Type Spread From Minimum Deposit Maximum Leverage Lot Size Min Features
Micro 1.5 pips $10 1:1000 0.01 EA/scalping allowed, swap-free option, 400+ symbols, hedging
Standard 1.2 pips $500 1:800 0.01 Full MT5 access, hedging, EAs, swap-free Islamic option
ECN 0.0 pips $5,000 1:200 0.10 Market execution, Level II/Depth of Market, tight spreads
Customize 0.0 pips (custom) $10,000 Up to 1:1000 1.0 Tailored terms, institutional-grade, all MT5 features
  • Micro account: Designed for beginners and low-volume traders, this account offers a $10 entry point, 1.5 pips minimum spread, and up to 1:1000 leverage. It supports EAs and scalping, and includes hedging and swap-free options.

  • Standard account: Ideal for intermediate traders, it features a $500 minimum deposit, minimum spreads of 1.2 pips, up to 1:800 leverage, full MT5 tools, and swap-free Islamic eligibility.

  • ECN account: Tailored for advanced trading, it offers zero spreads, 0.10 lot minimum size, a $5,000 deposit requirement, up to 1:200 leverage, and access to market depth data for tight execution.

  • Customize account: A professional-tier option requiring $10,000, with customizable zero spreads, up to 1:1000 leverage, a 1.0 lot minimum, and full MT5 capabilities, including advanced execution and hedging.

CentFX Broker Review: Legit Broker or Just Another Scam?

Do I Have Negative Balance Protection with This Broker?


CentFX offers negative balance protection, meaning if your account equity falls below zero, the balance is automatically reset to zero, ensuring you will not owe money to the broker. This feature is highlighted across official documentation and independent reviews:

  • CentFX states that losses cannot exceed deposited funds, providing a safety mechanism during extreme market situations . TradingBrokers confirms that CentFX “negative-balance protection resets balances to zero if equity tumbles below the required threshold due to extreme slippage”.

How It Works

  • Automatic Stop-Out: MT5 triggers a stop-out when margin levels reach the defined threshold (typically ~50%), potentially before a negative balance occurs.

  • Post-Stop-Out Adjustment: If slippage or yet-unclosed positions cause a negative balance, CentFX resets the account to zero (“relevant adjustment of the full negative amount”) as outlined in their Account Opening Agreement.

  • Retail-Only Feature: Like most brokers, this safeguard applies to retail clients only; professional or institutional account holders may not be covered.

Considerations & Limitations

  • Reliance on Internal Risk Management: While the reset is beneficial, its effectiveness depends on CentFX’s internal policies and timely execution of adjustments.

  • No External Guarantee: Unlike brokers under ESMA or FCA regulation, which enforce NBP legally, CentFX’s promise is not backed by global regulatory mandates.

  • Timing of Rebate: The reset may not always be instantaneous; similar brokers have noted delays of up to 24 hours in adjustments.

  • Conflicting Reviews: Some independent assessments argue CentFX lacks transparency on fund protection, raising concerns over reliability.

Impact on Trader Risk Management

For retail traders, negative balance protection is a critical safeguard during volatile conditions—particularly when using high leverage (up to 1:1000). This feature can prevent distress and financial liability during flash crashes or extreme market events. However, due to the absence of external oversight, traders should monitor their accounts, use conservative leverage, and place appropriate stop-loss levels.

Cent Fx Deposits and Withdrawals


CentFX provides a range of deposit and withdrawal options designed for ease of use, including bank and local transfers, credit/debit cards, e-wallets, and cryptocurrency. According to its “Zero Fees Policy,” deposits are free of charge, although you’ll need to cover any applicable network fees such as blockchain or card processing charges.

Deposit Options

  • Bank Transfers (SWIFT/local): funds typically arrive in your account within 15 minutes, sometimes up to 1–3 business days; no broker fee, but your bank may charge.

  • Credit/Debit Cards: instant funding; no fee from CentFX, though card provider fees may apply.

  • E-Wallets (including STICPAY, Perfect Money): funds usually process in under 15 minutes, with low or no broker fees.

  • Local Methods: available based on your country (e.g. MYR, IDR transfers); deposit times range from 15 minutes to 3 days; no deposit fees.

  • Cryptocurrency: network fees apply; deposits complete in minutes depending on network congestion.

Withdrawal Options

  • CentFX does not charge withdrawal fees beyond any network fees; charges may apply up to 2.5% plus network cost, based on the method and region.

  • E-wallets and card withdrawals typically clear in 24 hours and reach your account within 1–3 business days.

  • Bank transfers can take 1–3 business days with no broker fee.

  • Local payment methods (e.g., Malaysian Ringgit, Indonesian Rupiah): processed within 1–2 business days; no broker fees.

  • Crypto withdrawals are subject to network times, generally processed within 24 hours and completed in 1–2 days.

Limits & Conditions

  • Minimum deposit for Micro accounts starts at $10, whereas larger account types (Standard/ECN/Customize) require higher thresholds.

  • Minimum withdrawal amount is often $50, though specific details depend on method and currency.

  • No maximum cap is published, but large transfers might require additional verification.

User Experience & Speed

  • Wikibit notes that bank transfers may be subject to traditional banking hours and delays, while card and e-wallet options offer near-instant funding.

  • BrokersView scored CentFX 8.3/10, citing “Very Good” for deposit/withdrawal processes, reflecting generally smooth customer experience.

  • However, some user reviews mention occasional delays or inconsistent withdrawal timing, particularly via cards or international transfers.

Support Service for Customer


CentFX provides multiple support channels and generally covers a broad range of client needs:

  • Live Chat, Phone & Email Support: Available 24/7, CentFX lists live chat, dedicated phone numbers (+971 04 878 6270 and +971 04 256 6362), and email support (support@centfx.com, payment@, compliance@, etc.).

  • Multilingual Service: Support staff can assist in 16 languages, including English, Chinese, Thai, Vietnamese, and Malay.

  • FAQ & Help Center: The website features detailed FAQ sections that address a wide range of account, funding, and platform-related questions.

Prohibited Countries: Where Can I Not Trade with this Broker?


CentFX explicitly states that it does not provide services to residents or citizens of the following countries due to legal and regulatory constraints:

  • Cuba

  • Iraq

  • Myanmar

  • North Korea

  • Sudan

This restriction means individuals in these jurisdictions are ineligible to open accounts, deposit funds, or trade using CentFX platforms.

Special Offers for Customers


CentFX periodically introduces special offers and loyalty programs to enhance the trader experience:

  • Cash Rewards & Bonus Funds: Through its social trading platform launched in December 2024, CentFX provides exclusive incentives for top-performing traders, such as bonus funds, tiered rewards, and premium features.

  • Trade & Travel Promotion: In late 2024, CentFX offered a “Trade & Travel” campaign where qualifying users (≥200 lots in 90 days with at least $5,000 equity) could win airfare to Dubai, a 3‑night hotel stay, and sightseeing packages.

  • CentPay Integration: The brokerage launched its CentPay solution in December 2024, including a CentPay Mastercard which allows crypto-backed funding and withdrawals, bridging digital assets and real-world use—though this isn’t a direct bonus, it offers convenience and potential value.

  • Regular Expos & Awards Recognition: CentFX awards at past expos (Best Forex Broker Asia 2025, Fastest Growing Broker, Most Trusted Broker) aren’t direct promotions but offer heightened legitimacy and occasional promotional tie-ins at events.

  • Occasional Local Offers: In early 2025, CentFX ran India-specific promotions like exclusive Dubai tour opportunities (ended Jan 31, 2025) and payments via UPI tailored for Indian clients.

Terms & Conditions: Each promotion comes with specific eligibility criteria (account equity thresholds, minimum trading volume, regional rules, etc.). Until RM 2025, global campaigns tend to focus on trading milestones and strategic platform engagement. Always review applicable expiry dates, country restrictions, and associated T&Cs before participating.

Cent Fx Review Conclusion


CentFX launched in 2022 and has quickly evolved into a distinctive Forex and CFD broker operating through MT5. Its appeal rests on competitive pricing, extensive leverage options, and a tech-savvy approach to trading:

  • Strong Platform: CentFX operates exclusively on MetaTrader 5, offering advanced charting, algorithmic tools, social trading, and fast execution. Traders give it high marks for usability and efficiency.

  • Attractive Trading Conditions: With ECN spreads from 0 pips, up to 1:1000 leverage (depending on account type), and zero deposit/withdrawal fees, CentFX appeals especially to scalpers and high-frequency traders.

  • Regulatory Credentials: Licences in Anguilla (ARCA), Mauritius (FSC), and registration as a US MSB lend international reach. However, these aren’t equivalent to oversight from top-tier regulators like the FCA or ASIC, which reduces institutional confidence.

  • Mixed Reputation Among Users: Reviews vary widely—BrokersView gives an overall score of 8.2/10 for cost, platform, support, and funding, while Traders Union rates its trust index low at 1.7/5 citing intermittent service and limited online visibility. Trustpilot averages around 3.1/5 with both five-star and one-star reviews.

Summary and Key Takeaways


CentFX excels in providing a powerful MT5-based trading environment with cost-effective conditions ideal for active and algorithmic traders. Its global, multi-jurisdictional structure offers flexibility—but falls short of top-tier regulatory standards. Mixed user feedback highlights areas for caution, especially regarding withdrawals and transparency.

For experienced traders comfortable with offshore regulation and proactive risk management, CentFX can be a solid option. However, those prioritizing stringent regulatory oversight, institutional-grade safeguards, and regulatory clarity may prefer more recognized brokers.

  • Established and tech‑focused: CentFX, founded in 2022, operates globally via a multi‑jurisdictional setup—Anguilla, Mauritius, and US MSB registration—and runs on the powerful MetaTrader 5 platform with advanced charting, EAs, and copy‑trading tools.
  • Competitive trading conditions: Offers tight ECN spreads from zero pips, high leverage up to 1:1000, and no broker-imposed deposit fees—strong appeal for active, algorithmic, and scalping traders.
  • Negative balance protection: Automatically resets negative equity to zero, independent of manual requests—beneficial, but dependent on CentFX’s internal processes and offshore status.
  • Mixed regulation and user feedback: While CentFX holds licences in smaller jurisdictions, it lacks oversight by FCA/ASIC, raising some risk. User reviews are polarized—WikiFX notes account blocks and withdrawal issues alongside positive comments
  • Funding flexibility, but occasional delays: Multiple funding methods available (bank, card, e-wallet, crypto) with low/no fees, though some users report slow withdrawals with bank transfers or cards.
  • Support is generally solid: 24/5 multilingual live chat and phone support is praised for speed, but email follow-up can be inconsistent.

FAQs


Is CentFX a legitimate and regulated broker?


CentFX is registered in Anguilla, holds an Investment Dealer licence from the Mauritius FSC (Licence No. GB23201644), and is registered as a US Money Services Business (MSB), but it is not supervised by top-tier regulators like the FCA or ASIC, which may affect the level of investor protection.

What is the minimum deposit required to start trading?


You can open a Micro account with CentFX for as little as $10, while Standard, ECN, and Customize accounts require minimum deposits of $500, $5,000, and $10,000 respectively .

Can I open a demo account with CentFX?


Yes, CentFX offers a risk-free demo account that is available instantly upon registration and remains accessible indefinitely for practice and strategy testing.

Does CentFX offer negative balance protection?


Yes, CentFX provides negative balance protection, meaning any account that dips below zero due to slippage or market volatility will be reset to zero, helping to prevent traders from owing additional funds.

What funding methods are available and how long do withdrawals take?


Funds can be deposited or withdrawn via bank transfer, credit/debit cards, e-wallets, and cryptocurrency; deposits are usually instant with cards and e-wallets, while withdrawals typically take 1–3 business days and may incur third-party charges such as network or card fees.

About Author


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Robert J. Williams

Robert J. Williams, a finance graduate from the London School of Economics, dove into finance clubs during her studies, honing her skills in portfolio management and risk analysis. With a career spanning prestigious firms like Barclays and HSBC, she's become an authority in asset allocation and investment strategy, known for her insightful reports.
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CentFX Broker Review:  Legit Broker or Just Another Scam?
CentFX Broker Review: Legit Broker or Just Another Scam?
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