Excent Capital Review: Is This Platform A Safe Option?

Excent Capital is an offshore-based trading company with offices in Saint Vincent and the Grenadines (SVG) and Seychelles. The brokerage is only regulated under the latter jurisdiction though. 

Just because the broker obtained some sort of “license” doesn’t necessarily mean that nothing can go wrong. Take Arum Capital for instance. Is the Excent Capital Broker the real deal and can you honestly make profits trading on this platform? That is what our Excent Capital Review aims to answer using facts.

Legal Info: Is ExcentCapital Legit?

Excent Capital Ltd has offices in two offshore domains – SVG and Seychelles. Thus, the broker operates using two different websites as well – excentcapital.com (SVG) and excent.capital (Seychelles). The two jurisdictions’ regulators have the same name – the Financial Services Authority (FSA).

However, SVG’s FSA does not regulate Forex trading, only the banking sector. This means that the SVG branch of Excent Capital operates with no regulation, i.e. no trading license. As for the Seychelles branch, Excent Capital is regulated by the local FSA. Does that imply that the latter branch is legit?

Not really because Seychelles is still an offshore jurisdiction with lax regulations and rules. The lower degree of credibility can be a big issue, as was the case with Equiti.

In order to avoid potential issues, we recommend you avoid investing in uncertain offshore brokers such as Excent Capital and instead opt for brokers that operate under Tier 1 regulators such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), etc. 

If you lost money to shady offshore brokers, we can help you get it back!

Why Onshore Brokers Are Better Options

Due to lax regulations, or no regulations in the case of SVG, offshore brokers such as Excent Capital are not good choices, which is why we don’t recommend these platforms. Instead, find a provider that operates under renowned onshore financial market authorities.

Top-tier regulators such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), BaFin (Germany), IIROC (Canada), etc. require brokerage companies to maintain a substantial minimum operating capital (e.g. 730,000 EUR), offer clients negative balance protection, a segregated account, and even a compensation scheme (e.g. up to 85,000 GBP).

Who Are Excent Capital’s Clients?

According to godaddy.com/whois, the Excentcapital.com website domain was created on February 22, 2021. Since then, the suspicious broker has been providing services mainly to traders in the following countries:

• United States;
• United Kingdom;
• Mexico;
• Chile;
• India.

The United States and the United Kingdom are major financial hubs with superior regulations. Both jurisdictions enforce significantly heavier regulations than dubious offshore domains. Excent Capital Crypto trading cannot pass in the US or the UK. 

For instance, the legal leverage cap for retail clients is 1:30 in the UK whereas offshore brokers allow up to 1:100. The latter does not offer a compensation scheme whereas, in the UK, the Financial Services Compensation Scheme has got you covered.

If you’re experiencing issues with Excent Capital, we are willing to help you recover your funds.

Trader Reviews

For this section, we hopped over to wikifx.com in search of trader reviews. Although we did not quite find outright complaints, some seemingly had issues with the undisclosed Excent Capital Forex Spreads. 

The lack of transparency is another red flag we can attach to Excent Capital. No doubt that any trader will have the same issue with the broker not specifying key trading conditions.

 I was surprised to find that this company does not have detailed information on spreads and commissions. In my opinion, not volunteering such important information means that they are not sure enough about their trading conditions.

WikiFX user, December 2, 2022.

Leverage, Commissions, Spreads, and Fees

The lax offshore jurisdiction allows Excent Capital to offer a considerably high leverage cap of 1:100. Leverage is essentially borrowing money from your broker to increase your trading position size, allowing you to maintain a larger position with a smaller amount of capital. 

Although high leverage can lead to huge profits, it also significantly magnifies potential losses. High leverage often tilts toward the losing end, hence the lower but safer regulatory caps in Europe (1:30) and North America (1:50).

As for the spreads, Excent Capital did not provide a list on the website so we had to investigate deeper. It turned out that the broker offered a spread of 1.1 pip for the benchmark EUR/USD Forex pair, which is competitive. 

Whether Excent Capital charges additional commissions on each trading lot is unknown. The spreads for Excent Capital Stocks trading were not disclosed.  

Trading Platform

Excent Capital offers an unfamiliar custom trading platform. There is also a mobile trading app to go along with it. The website revealed only some of the basic features and even said that the company believes their “trading platform has a lot more to offer than the MT4 nowadays,” which is a bold statement. 

Whichever software Excent Capital offers, it cannot possibly be up to par with the renowned MT4 and MT5 platforms. We would always advise you to stick to brokers that offer credible and proven trading software.

Having withdrawal issues with Excent Capital? We can help you recover your funds.

Available Trading Assets

Here’s a quick rundown of the trading assets that the Excent Capital platform offers:

• Forex currency pairs – EUR/USD, GBP/CHF, AUD/CAD…
• Indices – S&P 500, AUS 200, NASDAQ 100…
• Commodities – coffee, gold, crude oil, natural gas…
• Stocks – Apple, Amazon, Twitter…
• Crypto – BTC, ETH, XPR…

Excent Capital Open Demo Account

Excent Capital promises a risk-free demo account on the website. The broker allows you to open an account for free and practice for a free trial period without risking any real money. That’s good news if you’re a beginner.

You should definitely first try out the demo account to see whether the Excent Capital platform is the right fit for you but be warned – this broker is not properly regulated, meaning that there is a huge risk involved when using real money to trade. 

Excent Capital Deposit & Withdrawal Process

Excent Capital’s website says that the company uses two payment methods for deposits and withdrawals:

• Credit/debit cards;
• Wire transfers.

There’s a discrepancy regarding the minimum deposit requirement – the main page says 50 USD while the FAQ section claims 200 USD. The acceptable currencies include the US dollar and the Mexican Peso. There are no deposit fees, according to the website. As for the withdrawal fees, Excent Capital charges a 30 USD fee on amounts smaller than the threshold of 1,000 USD and 16 EUR on amounts smaller than 800 EUR.

Funds deposited via MasterCard and VISA credit/debit cards can be refunded. This process is known as a chargeback and can be requested at the issuing bank within 540 days. Wire transfers can be reversed via a recall, which can only work for incomplete transactions.

Key Facts To Consider About Excent Capital

To sum up, Excent Capital is an offshore broker based in SVG and Seychelles, and regulated by the latter jurisdiction’s FSA. The main users of Excent Capital are traders from the US, UK, Mexico, India, and Chile.

Although the broker is regulated, offshore jurisdictions are not reliable and credible in terms of laws and regulations, which makes Excent Capital particularly risky. We don’t recommend this platform. Always check your provider because issues may occur with licensed companies such as Vestle as well. It’s important to know what to do in those situations. 

If you lost money to Excent Capital, please book your free consultation with our team and tell us more about your case. If you need professional assistance in recovering your funds, our team will gladly guide you through the chargeback process.

Book your consultation with us today and start the chargeback process.

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