Cent Desk Review: Centdesk Capital Limited a Scam Broker? - Topedgefx.com

Cent Desk Review: Centdesk Capital Limited a Scam Broker?

Welcome to the Cent Desk review. Centdesk.com is a broker based in London UK and offering multiple financial instruments for trading which include FX pairs, Futures, Indices, Metals and Energies.

Cent Desk claims that they are a multi-asset and award-winning broker offering fast execution and deep liquidity.

Every broker makes these claims and recently we reviewed BlueBerry Markets that claimed they were the go-to place for deep liquidity, fast execution and all the other exciting stuff.

In addition to this, CentDesk wants traders to know that they’re offering true ECN trading conditions on the popular MT5 trading platform for Desktop and mobile.

Cent Desk provides 5 account types with leverage of up to 1:1000 while minimum deposit starts at $100 all the way to $5,000.

The tabs below contain a brief summary of what CentDesk is claiming to provide their clients.

[tabs][tab title=”Demo”]Leverage: 1:100

Spreads: 1.5

Tutorial and support: No

Max orders: 20

[/tab] [tab title=”Micro”]

Leverage: 1:200

Spreads: 1.4

Tutorial and support: Yes

Max orders: 30

[/tab] [tab title=”Plus”]

Leverage: 1:300

Spreads: 1.3

Tutorial and support: Yes

Max orders: 50

[/tab] [tab title=”Premium”]

Leverage: 1:500

Spreads: 1.2

Tutorial and support: Yes

Max orders: 80

[/tab] [tab title=”ECN”]

Leverage: 1:1000

Spreads: 1.0

Tutorial and support: Yes

Max orders: 150

[/tab][/tabs]

Cent Desk broker is also affiliated with ATA Trading Limited as they’re heavily promoting the service throughout their website.

According to who.is, Cent Desk is owned and operated by Richard Dennis of CENTDESK CAPITAL LIMITED.

Traders who wish to contact CentDesk broker can use +1 (929) 444-7069 or email Info@Centdesk.Com.

Before you open any account with this broker, you should consider reading our review.

Cent Desk review

While they appear to offer multiple financial instruments for trading and generous leverage to boost traders capital, this alone don’t make for a good honest broker.

Cent Desk desk even claims that they’ve been regulated since 2016 by the FCA. However, who.is indicates the domain Centdesk.com was registered in September 2017. There’s no way this broker could have been regulated when they didn’t have a website at the time. In fact, this discovery is quite interesting and we’re sure that when we dig deeper, we will find more can of worms.

Additionally, the broker is offering portfolio management services for a minimum deposit of $100.

They claim to offer an investment opportunity in shares with an expected monthly return of 27%.

They want investors to know that portfolio managers trading these accounts are also investors themselves hence there’s no conflict of interest.

Cent Desk broker review

This service seems attractive because it is affordable and returns are quite appealing. However, there’s no evidence that these returns are achievable through Cent Desk broker.

Before we invest, we need to see the track record of these portfolio managers to be certain that they can indeed achieve the figures they advertise.

Cent Desk not regulated

If this warning by the FCA is anything to go by, then we can conclude that CentDesk Capital Limited is not regulated.

This is contrary to the claim that CentDesk is a regulated broker since 2016. If this is so, we could have found evidence quite easily.

Apparently, the FCA is warning the public against dealing with this broker or company because they’re illegally providing financial services to residents of the UK.

When a broker is not regulated, all sorts of things can go wrong. Apart from the company going bankrupt and leaving investors with losses, unregulated brokers usually don’t have a sense of responsibility towards their customers’ funds.

Funds are never kept in a segregated account as required by financial watchdogs like the FCA. Secondly, unregulated brokers are known to mishandle their clients because they have nothing to lose.

They don’t care about their reputation because they can close the brand now and start another one tomorrow.

As a trader and investor, you should only trade with a broker who gives you peace of mind.

We’re sure that a broker like CentDesk will only create a hellish trading experience for you.

CentDesk not a transparent broker

They claim that their portfolio managers have 14+ years of experience yet we’ve seen inconsistencies across their promotion material. How are we supposed to believe this?

Secondly, fees associated with their portfolio management services were not disclosed. It is in order for financial services offering investment services of this nature to disclose all fees upfront.

Thirdly, the 27% monthly return promised by this broker is quite unrealistic and certainly the minimum deposit of $100 is just too good to be true.

A serious investment manager does not work with pennies. You can check on the internet what hedge funds require to join their service.

Why we would not trade or think of investing with this broker

Of course anyone who reads this review up to here should have more than enough reasons not to trade with Cent Desk broker.

Our reasons are based on what we’ve discussed above. Lack of a regulator’s license and the fact that the FCA has shade light on this company’s illegal service are just some of the reasons to keep us away from CentDesk.

Also, this broker has not attracted any reviews or feedback from members of the public yet.

They have been around since 2017 and we believe this is sufficiently long duration for a broker to at least attract the attention of traders.

We find it very strange that this broker has not garnered any ratings nor attracted feedback from traders who used their service.

This is yet another reason that would motivate us to keep away from CentDesk broker.

Also, we find that their promotion material is just ridiculous, why? Because they claim to be an award-winning broker. Who gave this award to CentDesk Capital Limited?

Basically, CentDesk sounds like your average street broker with no meaningful reputation. Such brokers are avoided at all cost.

Conclusion

We find it difficult believing that a broker like Cent Desk can compete fairly with regulated and reputable brokers on the internet today.

In as much as they’re trying to portray their service as good and ideal for traders wanting to invest in multiple trading instruments, we feel that this broker is not for us.

Thanks for reading the CentDesk review. We would like to receive your feedback in the comment section.

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