CentroBanc presents itself as a bank service provider, a part of the most famous Austrian bank, Raiffeisen. Further, they claim to offer trading services, as the bank does.
Read our detailed CentroBanc review and you’ll see that not everything is as it seems. Warning, we’re about to expose an offshore scammer.
In addition to the above, we strongly advise you not to invest in Capital Markets Strategy Ltd, BUX Forex and GFE Markets fraudulent brokers.
|Broker status:||Offshore Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||FMA|
|Owned by:||Sucaba Enterprise Ltd|
|Headquarters Country:||Marshall Islands|
|Types of Assets:||Forex, commodities, indices, shares|
|Free Demo Account:||No|
|Accepts US clients:||No|
Details About CentroBanc Regulation
CentroBanc claims to be owned by Raiffeisen Centrobank AG. Allegedly, it’s a part of the Austrian Raiffeisen bank, offering both banking and trading services.
However, upon checking the register of the Financial Markets Authority of Austria, we discovered that this particular website had been known in trading circles since 2018. According to FMA, it’s an unlicensed trading firm owned by Sucaba Enterprise Ltd, registered in the Marshall Islands. The same company owns another scam brand, SkyCapital, which is banned in Italy and Norway.
In 2022, CentroBanc rebranded and added the Raiffeisen logo, but even that didn’t contribute to its legitimacy.
Why Is Trading With a Licensed Broker Preferable?
Licensed banks and brokers must follow stringent rules imposed by local regulators. For instance, the Austrian authority body requires trading firms to have minimal operational capital of 730,000 EUR, keep customers’ funds in segregated accounts, and offer negative balance protection.
Fraudsters like CentroBanc here don’t follow any rules. Furthermore, they don’t comply with the ESMA leverage limit or MiFID directives.
How Reliable Is CentroBanc?
CentroBanc uses the name of one of the most popular Austrian banks, Raiffeisen, to conduct its business. The website has been banned by the Austrian regulator FMA and marked an offshore fraud.
Warning From the Austrian Financial Markets Authority (FMA)
The FMA issued an official warning against CentroBanc and its owner, Sucaba Enterprise Ltd. According to it, this website has no authorization to provide any kind of financial services in Austria.
Further, they emphasized that CentroBanc is in no way related to Raiffeisen Centrobank AG, legitimate financial services provider. Thus, it’s your cue to stay away.
What Do Traders Think Of CentroBanc?
CentroBanc promotes its services as part of a legitimate bank. Even their website is entirely branded with the Raiffeisen logo. However, once customers were lured into depositing, they could not withdraw any money.
CentroBanc says it offers banking services as well, prompting clients to deposit to their checking accounts. Once the funds are transferred, you’ll never hear from this financial swindler again.
CentroBanc – Countries Of Service
CentroBanc mainly targets residents of the following countries:
Since it’s not a part of the major bank and has no authorization, you should be pretty cautious. Do not trust any alleged bank without checking their details. Raiffeisen bank has branches around the globe, so it’s worth visiting them to ensure your funds are in the right place.
Also, remember the names of the Gamma Capitals, Onotex and FinexStock trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
CentroBanc Range of Trading Markets
The website allows customers to invest in the following assets:
- Currency pairs – EUR/USD, GBP/AUD, CHF/NOK
- Indices – ATX, ATX Prime, ATX5
- Shares – CA Immobilien Anlagen AG, Immofinanz AG, S Immo AG
- Commodities – gold spot, palladium spot, platinum spot.
As mentioned, employees of this fraudulent firm may ask you to deposit funds into an alleged bank account. Once you do, they’ll not let you withdraw a dime.
What Is Known About CentroBanc’s Trading Conditions?
The company advertises leveraged trading but with no specified terms. Further, the spread was not disclosed, making the trading process difficult. You should stay away if you don’t know the basic costs and risks.
Account managers may try to convince you that CentroBanc has the best and most favorable trading terms when you set up an account. They’ll sell you anything you want to hear. Once you give away the money, they’ll stop responding and, most likely, block your access to the account.
CentroBanc Minimum Deposit and Withdrawal Terms
CentroBanc has no minimum amount specified. However, it doesn’t mean once their employees evaluate your financial situation, you won’t be asked for a large sum of money.
As per withdrawal terms, we’re unable to precise anything. The company uses a large amount of legal documents belonging to a legitimate bank. Thus, nothing in there applies to the CentroBanc scam.
Scammed by CentroBanc Broker? – Let Us Hear Your Story
If you find yourself a victim of CentroBanc, let us know. Our chargeback specialists may be able to assist and help you recover what’s rightfully yours.
Being scammed is never easy, but taking the first step towards recovery is crucial. Book a free consultation with our experts and let us take that step with you!
But What Is A Chargeback?
This is a way for your bank to recover funds directly from the merchant. If you have been scammed, you need to act quickly. Let’s start and resolve the matter before the damage is even bigger!