Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
6/10 · HighHeld a genuine EU tier-2 CySEC licence (226/14, verified on the register), which caps this below the 9-10 band; pulled up because the licence is now under voluntary renunciation and the firm carries a 2022 CySEC settlement, so active protection is lapsing.
Identity & transparency
2/10 · LowFully identified: real Cyprus entity HE307717, registered Limassol address, active LEI, licence entity name all match across the site, registry and regulator record.
Withdrawals & conduct
6/10 · HighA genuine fund-integrity pattern across several platforms (withdrawals stuck 'in process', balances unpaid) clustered around the shutdown; mitigated by mixed reviews, some reported compensation and the regulated wind-down, so not the systematic-theft top band.
Reputation
6/10 · HighWidely tagged a scam by review sites on the back of the fine and withdrawal complaints, but the base is a real firm with a large mixed review set, not a uniform unresolved multi-platform meltdown.
Website claims
4/10 · ModerateStill describes itself as CySEC regulated and safeguarding funds while renouncing the licence, an out-of-date overstatement; offset by a prominent closure notice, genuine passporting list and no fake awards or guaranteed-profit claims.
Operational history
3/10 · LowVerified track record of about 12-14 years (company 2012, main domain 2014, licence 2014), long and genuine; nudged up only because the operation is now ceasing.
Who they are
A quick desk file on the company behind the brand.
- Brand: eXcentral, and the earlier NicoFX brand
- Legal entity: Mount Nico Corp Limited, formerly Nico Financial NF Ltd (Cyprus registration HE307717)
- Registered: Poreias 2, 3011 Limassol, Cyprus
- Website: mtnico.com (corporate), excentral.com and eu.excentral.com (brand)
- Only licence: CySEC CIF 226/14 (EU, tier 2), now under voluntary renunciation
- Offers: CFDs on forex, indices, commodities, shares and crypto via MetaTrader 4 and a web platform
- Not accepted: UK residents, and new clients in the Netherlands and Portugal
- Age claim: company since 2012, licence since 2014, main brand domain since 2014 (about 12 years); now ceasing operations
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
CySEC (Cyprus Securities and Exchange Commission)
Why we reached this verdict
How the evidence adds up.
We rate Mount Nico high risk because it is a regulated broker that is now closing down, with an enforcement settlement behind it and unresolved fund-return complaints. The evidence-based score works out at about 49 percent, in the high-risk band.
- The licence is being given up. The CySEC register lists CIF 226/14 as 'under examination for voluntary renunciation', and the firm's own sites confirm positions are closed and trading access is terminated. A licence in this state no longer protects new clients.
- There is a real regulatory penalty. In 2022 CySEC reached a 290,000 euro settlement with the company over possible breaches during 2020, including target-market identification and conflict-of-interest rules.
- Clients report withdrawal problems. Across review sites, users describe withdrawal requests looping on an automated 'in process' message and balances unpaid for weeks or months, concentrated around the shutdown. This is a fund-access pattern, not just service gripes.
- The public message is mixed. The brand site still describes the firm as CySEC regulated and safeguarding client funds, while the same pages carry the closure notice. The out-of-date wording can mislead someone who lands on the homepage.
- What keeps this out of scam territory: the company is a genuine, fully identified Cyprus firm that was properly authorised for years. This is a wind-down under regulatory supervision, not a clone or a fabricated licence.
Evidence ledger
Every finding, with its source and how strongly it points.
E1Mount Nico Corp Ltd holds a genuine CySEC licence, CIF 226/14, on the regulator's own public register (licensed 07/02/2014). It is not a clone and not a fabricated number.
Hard proofCySEC public registerE2The same CySEC register lists the licence as 'under examination for voluntary renunciation of the authorisation', so the firm is giving up its regulated status.
StrongCySEC public registerE3CySEC reached a 290,000 euro settlement with Mount Nico Corp Ltd in 2022 over possible compliance breaches during 2020, covering the eXcentral and NicoFX brands.
E4The firm's own websites (mtnico.com and excentral.com) display a closure notice: the licence is being renounced, all positions are closed, trading accounts are terminated, and clients with balances must email for the return of funds.
E5Across Trustpilot and independent broker-review sites, users report withdrawal requests looping on an automated 'in process' message and balances unpaid for weeks or months, mainly around the shutdown.
E6The Cyprus company register lists Mount Nico Corp Ltd (HE307717) as incorporated on 12 June 2012 and still active, at Poreias 2, Limassol, matching the licence and the website.
StrongCyprus company registerE7The main brand domain excentral.com was registered in March 2014 and the company in 2012, giving a genuine operating history of about twelve years, not a freshly minted site.
E8The brand site still describes the firm as authorised and regulated by CySEC and as safeguarding client funds, on the same pages that announce the closure, an out-of-date claim that can mislead a first-time visitor.
ModerateeXcentral websiteE9The former NicoFX brand domain, nicofx.com, lapsed and was re-registered through a drop-catch service in September 2025; it no longer serves the broker's content, although the wind-down page still links to it.
E10A global LEI record (2138007AOJ526TASD235) independently confirms Mount Nico Corp Ltd as an active Cyprus legal entity at the same Limassol address.
The other side
The strongest case in this broker’s favour.
The fair case in the firm's favour is that this was a legitimate, regulated business, not a fraud set-up.
- Mount Nico Corp Ltd is a real Cyprus Investment Firm (HE307717) with a public company record, an active global LEI and a registered Limassol office.
- Its CySEC licence 226/14 was genuine and active from 2014, with EU passporting into more than twenty countries.
- The shutdown is running through the official CySEC voluntary-renunciation process, and the company has published a route for clients to reclaim remaining balances.
- The review record is mixed rather than uniformly negative: among hundreds of reviews there are many positive ones alongside the withdrawal complaints.
- Some clients report they were partially compensated, and the 290,000 euro CySEC action was a compliance settlement, not a finding of theft or fraud.
What would change this
What we would need to see to revise the verdict.
What would move this rating in either direction:
- Lower risk: confirmation that client balances were returned in full under CySEC and Investor Compensation Fund supervision once the renunciation completes.
- Lower risk: the firm updating its sites to drop the active-regulation wording now that it is closing.
- Higher risk: a regulator warning, a court case, or credible evidence that client funds were withheld or misappropriated rather than returned.
- Higher risk: any live site reusing the eXcentral or NicoFX name to take fresh deposits after the licence is gone.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
CySEC register entry (CIF 226/14)
The regulator's own record for Mount Nico Corp Ltd, showing the licence under voluntary renunciation
Cyprus company register (HE307717)
Confirms the legal entity, 2012 incorporation and Limassol address
Global LEI record
Independent legal-entity identifier record for the company
CySEC 290,000 euro settlement (2022)
Industry reporting on the CySEC enforcement settlement
Frequently asked questions
Quick answers about this broker’s safety.
Is eXcentral (Mount Nico) a scam?
Not in the classic sense. Mount Nico Corp Limited held a genuine CySEC licence and ran the eXcentral brand for years. But it is now renouncing that licence and shutting down, it was fined by CySEC in 2022, and users report trouble getting withdrawals, so we treat it as high risk.
Is eXcentral a fraud?
No court or regulator has found the company guilty of fraud. CySEC's 2022 action was an administrative settlement over compliance failings, not a fraud conviction. That said, clients report withdrawals that were not honoured, so caution is warranted.
Is Mount Nico regulated?
It was. Mount Nico Corp Ltd held CySEC licence 226/14 from 2014. The CySEC register now shows that licence as under voluntary renunciation, so the firm is giving up its regulated status and no longer offers active protection.
Can I still withdraw my money from eXcentral?
The company says trading accounts are closed and asks clients with a remaining balance to contact it by email for the return of funds. Some users report this works slowly or not at all, so keep written records and escalate to CySEC if needed.
Is my money safe with eXcentral?
New deposits are not advisable, and the firm is not taking new clients. Existing balances should be returned through the wind-down process, but the open complaints mean there is real risk, so act promptly and document everything.
Who owns eXcentral?
The eXcentral and NicoFX brands are owned by Mount Nico Corp Limited, a Cyprus company (registration HE307717) based at Poreias 2, Limassol. It was previously named Nico Financial NF Ltd.
How old is eXcentral / Mount Nico?
The company was incorporated in Cyprus in 2012 and licensed in 2014, and the main brand domain dates from 2014, so it operated for roughly a decade before winding down.
What is CySEC licence 226/14 and is it still valid?
It is a real EU investment-firm licence issued by Cyprus's regulator, CySEC. It is currently marked on the register as under voluntary renunciation, meaning the firm is handing it back, so it should not be relied on as active protection.
Why did CySEC fine eXcentral 290,000 euros?
In 2022 CySEC settled with Mount Nico Corp Ltd over possible breaches identified during 2020, including how it identified its target market, handled conflicts of interest and safeguarded client rights. A settlement lets the regulator close the matter without a formal finding of guilt.
Is eXcentral a clone of another broker?
No. It uses its own genuine Cyprus entity and its own CySEC licence number, not another firm's. This is a real, identifiable company, which is the main reason we do not label it a clone or an outright scam.
Are excentral-int.com and nicofx.com the same company?
Treat them as separate. excentral-int.com trades as eXcentral International and is a different website from the Cyprus entity covered here. nicofx.com was the old NicoFX domain; it lapsed and was re-registered by a third-party drop-catch service in 2025. Verify any such site independently before trusting it.
What should I do if eXcentral will not return my funds?
Complain to CySEC and ask about the Investor Compensation Fund. If you paid by card or bank transfer, ask your bank about a chargeback or recall. Keep all correspondence, and ignore anyone who offers to recover your money for an upfront fee, which is a common follow-up scam.
What we recommend
The practical takeaway from everything above.
Practical steps for anyone dealing with eXcentral or Mount Nico:
- Do not open an account or deposit money. The broker is closing and is not taking new clients.
- If you hold a balance, use the official closure contact the company publishes and keep written records of every request.
- If funds are not returned, complain to CySEC and ask about the Investor Compensation Fund, and, if you paid by card, ask your bank about a chargeback.
- Ignore anyone who contacts you offering to 'recover' your money for an upfront fee. Recovery-fee approaches are a common follow-up scam.
- Treat lookalike sites such as excentral-int.com, or any revived nicofx.com, as separate operations and verify them independently before trusting them.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed September 11, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.