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Re: Cent account broker needed

11 by Ogee
SijjiN wrote: Thu Oct 03, 2024 6:02 pm This is my live account, this case GBP wallet and account. (this are the options GBP / USD / EUR )

I Put a screenshot for you to check the spread and to see it is live account.
Are you sure they are giving 500:1 leverage though? If this is the London side of the company then they are listed with the FCA and so must demand around 3% margin to cover trades (= 33:1 leverage).

Negative account protection was one of the trade offs given when the reduced leverage amounts came in for EU and UK broker accounts (around 2019).
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lukgoku

Re: Cent account broker needed

12 by SijjiN
Ogee wrote: Thu Oct 03, 2024 6:19 pm Are you sure they are giving 500:1 leverage though? If this is the London side of the company then they are listed with the FCA and so must demand around 3% margin to cover trades (= 33:1 leverage).

Negative account protection was one of the trade offs given when the reduced leverage amounts came in for EU and UK broker accounts (around 2019).
Hi Ogee,

Normal accounts are 500:1 max.
In the case of cent account it can go as high as 1000:1.
See the screenshot.
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lukgoku

Re: Cent account broker needed

14 by lukgoku
I confirm, I just spoke to customer support on chat and tried the demo. For non-UK residents, an account is opened at the Mauritius office with 1:500 leverage. Be careful because they don't accept scalping, so if you make trades of less than three minutes they close your account. For the rest, they have good conditions in my opinion if you use capital from €1,000 upwards, because they don't charge commissions, only spreads.

Our friend Sijjin confirms that they are fast in execution, the slippage seems limited if I understand correctly, so for day trading it would be ideal, if you avoid scalping. Payments seem to be regular, they are UK certified and so seem solid.

Thanks for this tip Sijjin!
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SijjiN
Yesterday is history, tomorrow is a mystery, but today is a gift, that’s why it’s called a Present! - Master Oogway

Re: Cent account broker needed

15 by lukgoku
SijjiN wrote: Thu Oct 03, 2024 6:27 pm Ok,

If you guys keep getting redirected and cant create a new 500:1 account because of the European bullsh1t, just use a VPN to open the international site without the redirection issue happen, and create the account.

Hope this tip can help some of you.
Under VPN you open the demo without any problems, but when you open the real account and they ask for proof of residence, what happens?
Yesterday is history, tomorrow is a mystery, but today is a gift, that’s why it’s called a Present! - Master Oogway

Re: Cent account broker needed

16 by Ogee
lukgoku wrote: Thu Oct 03, 2024 6:36 pm I confirm, I just spoke to customer support on chat and tried the demo. For non-UK residents, an account is opened at the Mauritius office with 1:500 leverage. Be careful because they don't accept scalping, so if you make trades of less than three minutes they close your account. For the rest, they have good conditions in my opinion if you use capital from €1,000 upwards, because they don't charge commissions, only spreads.

Our friend Sijjin confirms that they are fast in execution, the slippage seems limited if I understand correctly, so for day trading it would be ideal, if you avoid scalping. Payments seem to be regular, they are UK certified and so seem solid.

Thanks for this tip Sijjin!
Not sure about how good the Mauritius regulator is but certainly won't be covered by the UK FCA.

Re: Cent account broker needed

17 by lukgoku
Ogee wrote: Thu Oct 03, 2024 6:43 pm Not sure about how good the Mauritius regulator is but certainly won't be covered by the UK FCA.
yes I agree, but mine was more about the solidity of the broker than about regulatory coverage.
Yesterday is history, tomorrow is a mystery, but today is a gift, that’s why it’s called a Present! - Master Oogway

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