Central Margins Review – A Shady Brokerage You Should Avoid

Despite the website being inaccessible, we managed to dig up some dirt on this fraudulent broker. We believe that the website was probably taken down due to numerous complaints. But, do not count out the possibility of this scammer reemerging. That’s why the Central Margins Review is here to ensure this broker remains at the margins. 

On top of that, we recommend you not invest in the fake brokers FewaTrade, OpoFinance, and TargoSwiss. Do not trade with these unlicensed brokers if you want to save your money!

Central Margins Is Not a Regulated and Scam Platform?

We instantly noticed that the shady broker provided the name of its owner and HQ. The alleged owner is Central Margins Trading Services LLC, based in SVG. When scammers pick their home, they typically go for SVG because the laws there are not rigid or strict at all. However, one thing to note is that SVG’s financial regulator does not supervise Forex trading.

Furthermore, Central Margins wouldn’t be your typical scammer without including a fake address, now would it? Geneva, Switzerland, hmmm. The financial swindler really loves these tax havens.

One thing we appreciate about CentralMargins is the lucid and honest confession about its unauthorized status. The phony even put it out straightforwardly – “Central Margins Trading Services LLC is not required to hold any financial service license…” There’s not much to add here, Central Margins is unregulated as hell and pretty dangerous.

Central Marings is an offshore trading scam. The company is based in SVG and has no valid trading license

Why Is Trading On a Licensed Broker’s Platform Preferable?

Just to be sure, we checked the websites of Tier 1 regulators such as the FCA, CySEC, and ASIC. As you may have already guessed, our con artist was nowhere to be found. By trusting a regulated broker, you can be assured you’re not walking into a trap.    

What Platforms Does Central Margins Offer? – Available Trade Software

“Next-generation trading platform,” says Central Margins. Disregarding the multiple imaginary awards won by this web-based platform, it’s far from impressive and promises only frustration. 

No advanced tools, just some basic features. Also, there’s no guarantee that the platform isn’t subject to manipulation, in which case you’re perpetually losing.

Central Margins – Countries Of Service

This offshore broker carefully selects its targets. From what we gathered, the main targets of this fraudster are residents of Canada, Romania, Switzerland, and the US. 

Switzerland should not come as a surprise since the scammer provided a fake Swiss address. However, it’s hard to pinpoint the correlation between US/Canada and Romania. Nevertheless, wherever you come from, avoid dealing with this dangerous provider.

Central Margins Awards – Company Achievements

The illicit broker claims to have won various awards, specifically for its platform, which we already covered. That’s easy to say but where exactly are those awards and who presented them? If you were to ask Central Margins that, the cat would surely run away with the scammer’s silver tongue.

What Do We Know About Central Margins Account Types?

Again, we did not find information about the features of the broker’s account types. What we do know is that the minimum deposit used to be $10,000. Let us spell that out for you – T-E-N T-H-O-U-S-A-N-D D-O-L-L-A-R-S! Central Margins should be ashamed! No sane provider would dare demand such a large amount of money.

Can a Trader Use a Demo Account?

It was probably available. We cannot say for sure. The inclusion of a demo account makes you seem legit and most scammers know this. However, once people see the trading platform, there is a great chance they give up on investing with fraudsters.

Deposits & Withdrawals 

Here, our scam broker claimed to accept two classic methods of payment – credit cards and wire transfers. There’s no info on fees. Hypothetically, you’ve paid the deposit through one of these two methods. In this case, you should be glad that there are ways to reverse the process but more on that later. 

Let’s not forget the overwhelming minimum deposit amount. Money must really be funny in Central Margins’ world.                

What Is Known About Central Margins’ Trading Conditions?

Speaking from experience, some scammers will try to lure you with either competitive spreads or high leverage or both, the latter being a double-edged sword. Central Margins allegedly offered a spread of 0.3-0.4 pips for EUR/USD, which is nice and relatively low. 

But the leverage for that major pair is unknown. The only disclosed leverage is for cryptocurrencies – 1:20. For a market so volatile, this could result in huge losses, hence why regulators imposed a limit of 1:2-1:5.

Why Do Scammers Prefer Cryptocurrencies?

When it comes to trading, scammers prefer crypto due to fluctuations in that market that could lead to clients losing money. Losses might prompt them to invest more. On the other hand, when it comes to payments, scam brokers would like you to pay in crypto since it is hard to trace and allows them to remain anonymous.

Scammed by Central Margins Broker? – Let Us Hear Your Story

If you want to confess about being scammed, we will gladly hear you out. The mistake you’ve made must surely be ripping you apart from the inside. Now’s the time for us to tell you that you can get your money back! Since this fraudster accepts only credit cards and wire transfers, all you have to do is request a chargeback or a recall.

But What Is A Chargeback And A Recall?

Getting your money back is possible via chargeback, a method used to reverse credit/debit card transactions. It can be requested at the issuing bank within 540 days. 

On the other hand, a recall can be performed to reverse wire transfers. There’s one problem though; it’s possible only if the transaction hasn’t been completed.