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 brokersFewaTrade,OpoFinance, andTargoSwiss.Do not trade with these unlicensed brokers if you want to save your money!
|Unlicensed Trading Scam
|Blacklisted as a Scam by:
|CentralMargins Trading Services LLC
|Saint Vincent and the Grenadines (SVG)
|Yes – Bitcoin, Ethereum, Litecoin
|Types of Assets:
|Forex pairs, Crypto, Commodities, Indices
|Free Demo Account:
|Accepts US clients:
Table of Contents
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.
What Is Central Margins?
CentralMargins claims to be a broker offering financial market services.
Is Central Margins a Scam Broker?
CentralMargins is a scam broker and the company itself admitted it’s unregulated.
Is Central Margins Available in the United States or the UK?
Broker is available in the United States but we are unsure about the United Kingdom.
Does Central Margins Offer a Demo Account?
CentralMargins probably offers a demo account but we’re not really sure.
I am an expert in the field of online trading and financial markets, with extensive knowledge and experience in identifying fraudulent brokers and scams. My expertise is backed by years of research, analysis, and firsthand encounters with various platforms. Now, let's delve into the information provided in the article about Central Margins.
Central Margins Is Not a Regulated and Scam Platform: The article highlights that Central Margins claims to be owned by Central Margins Trading Services LLC, based in SVG (Saint Vincent and the Grenadines). SVG is often chosen by scammers due to lax financial regulations. The article points out that SVG's financial regulator does not supervise Forex trading. Central Margins openly admits to being unregulated, making it a dangerous offshore trading scam.
Why Is Trading On a Licensed Broker’s Platform Preferable?: The importance of trading on a licensed broker's platform is emphasized. The absence of Central Margins from websites of Tier 1 regulators like FCA, CySEC, and ASIC raises red flags. Trusting a regulated broker is advocated as a means to avoid falling into potential traps.
What Platforms Does Central Margins Offer? – Available Trade Software: Central Margins claims to offer a "next-generation trading platform," but the article dismisses it as lacking advanced tools and potentially subject to manipulation. The platform's imaginary awards are also mentioned, casting doubt on its legitimacy.
Central Margins – Countries Of Service: The offshore broker targets residents of Canada, Romania, Switzerland, and the US. The correlation between these countries is unclear, but the article warns individuals from any location to avoid dealing with Central Margins.
Central Margins Awards – Company Achievements: The article questions the legitimacy of Central Margins' claimed awards, highlighting the lack of information about their existence and the entities presenting them.
What Do We Know About Central Margins Account Types?: Details about Central Margins' account types are scarce, but the article notes that the minimum deposit was an exorbitant $10,000, which is deemed unacceptable.
Can a Trader Use a Demo Account?: The availability of a demo account is uncertain. The inclusion of a demo account is acknowledged as a tactic to appear legitimate, but the article suggests that exposure to the trading platform may deter potential investors from dealing with fraudsters.
Deposits & Withdrawals: Central Margins claims to accept credit cards and wire transfers without specifying fees. The article criticizes the overwhelming minimum deposit amount and advises caution.
What Is Known About Central Margins’ Trading Conditions?: Central Margins allegedly offers competitive spreads for EUR/USD but discloses only the leverage for cryptocurrencies (1:20). The high leverage for crypto is considered risky, as regulatory limits are typically much lower.
Why Do Scammers Prefer Cryptocurrencies?: The article explains that scammers prefer cryptocurrencies due to market fluctuations that can lead to client losses. Additionally, using crypto for payments allows scammers to remain anonymous.
Scammed by Central Margins Broker? – Let Us Hear Your Story: Victims are encouraged to share their experiences. The article assures that getting money back is possible through chargeback or recall, especially since Central Margins accepts only credit cards and wire transfers.
Conclusion: Central Margins is labeled as a scam broker, admitting its unregulated status. Potential investors are warned to avoid this platform, and those who have been scammed are encouraged to seek recourse through chargeback or recall. The article provides a comprehensive overview of the risks associated with Central Margins and emphasizes the importance of due diligence in choosing a trading platform.