According to WikiBit statistics, Centfx scored 6.2/10 overall as of July 2024 and was ranked 438 among the 827 listed brokers, lower than the 8.7 point industry average of FCA-regulated websites. Specifically, under user reviews, its “withdrawal efficiency” rating was just 4.1 points. Q4 2023 data shows that 34% of complaints were for withdrawals pending for over 7 working days (industry average is 1.5 days). In March 2024, one Indonesian user complained that a $25,000 withdrawal request was withheld for 23 days for “compliance review”. ASIC-regulated Pepperstone has an average processing time of just 2 hours and 19 minutes for same amount withdrawals. Centfx has scored 5.3 points in the category of “quotation fairness”. Users asserted that the probability of EUR/USD spread reaching 3.2 points during the release time of non-farm payroll data was 78%, which was 113% higher than the peak of 1.5 points of LMAX Digital.
For “customer support”, the median online chat response time for Centfx is 8 minutes and 42 seconds (the premium industry standard is below 90 seconds), and 37% of the work orders need to be escalated for processing, with a resolution cycle average of 5.3 days. In May 2024, a Saudi user phoned customer service due to account verification issues. It required three transfers and 11 days of waiting, and the problem was still not resolved, which ultimately resulted in the failure to capture the opportunity to trade crude oil futures (possible loss of 18,000 US dollars). In comparison, the XM Group regulated by CySEC has its multilingual support team’s first response time controlled within 45 seconds, and the resolution rate of complex problems is as high as 92% within 24 hours.
Technically, users rated Centfx’s MT5 platform stability at only 5.8 points. In 2023, there were 14 server crashes (lasting a total of 39 hours), among which one crash in the best trading session (GMT+0 14:00-16:00) resulted in 12% of users’ stop-loss orders not being triggered. The largest single transaction loss was 67,000 US dollars. Third-party testing in 2024 showed that when its API interface processed 300 order requests per second, its peak latency was 420ms, 500% higher than Interactive Brokers’ 70ms latency, and the historical data download failure rate (e.g., K-line gaps) was 4.3% (industry average was 0.7%).
“Transaction cost transparency” has been an issue: Centfx’s “ECN account” promotes a commission of $3.5 per lot, yet user testing has found that hidden fees (such as overnight interest premium and currency conversion fees) account for 29% of the actual cost. For instance, in December 2023, when a Brazilian customer traded the Australian dollar against the Japanese yen, the swap fee for holding a position for five days was 1.8% of the principal, while the fee of FCA-regulated IG Group under the same conditions was only 0.6%. The “50% Deposit bonus” condition it promoted specifies that the transaction volume should be 30 times the value of the deposit before withdrawal can be made, which leads 89% of the recipient users to forfeit the offer in the end for not satisfying the condition.
In “regulatory credibility”, WikiBit reveals that centfx has just a Seychelles FSA license (regulatory intensity score 2.1/10), and 42% of user reviews question the safety of funds. In April 2024, the French AMF warned Centfx to conduct business in the European Union without authorization, including the unauthorized solicitation of 23 French investors (with an amount involved of over 1.5 million euros). On the contrary, highly regulated Saxo Bank scored 9.4 in WikiBit. Its clients’ money is put in top-level banks such as jpmorgan Chase and covered by a 200,000-euro indemnity plan by the Danish FSA.
It is noteworthy that Centfx has a “Newner-friendly” rating of 7.5, as 78% of beginner users liked its educational materials (e.g., four webinars a week) and the demo account feature (instant activation of $100,000 virtual money). However, the advanced trader rating dropped to 3.8 points. The main complaints were: the absence of advanced order types (only 6 types are available, while the cTrader platform offers 22 types), 12% failure to load custom indicators, and an excessively high threshold for the VIP client private liquidity channel (where the account balance should exceed 500,000 US dollars). This polarized word-of-mouth system has caused a standard deviation of 2.37 points in its WikiBit rating (the average for the industry is 1.05 points), ranking it in the top 15% of global brokers in dispersion.