Do not participate into insane promos where you get nothing but give your documents, time, efforts, skills and knowlage. Do not accept conditions which put you into slavery, to trade some insane turnovers, to deliver your efforts to promote them, to earn profit for them. All of them have counter positions against your trades. If you participate, participate just into something that is fair. In addition to the account types mentioned above, Extrasum also offers a Managed Account, where the broker itself places orders on behalf of the client. However, keep in mind that this is a somewhat controversial and risky practice, in particular when using unregulated brokers like Extrasum.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Based in Kingstown, Saint Vincent and the Grenadines, Extrasum is an STP broker that provides traders with the MT5 trading for online trading of several financial instruments. Traders are provided with a selection of educational resources while a client support team is available to assist traders.
If funds are lost, or returns are otherwise not as good as promised, there is really nothing a single client can do about it other than switching over to another broker. With that said, however, trading with unregulated forex brokers also comes with a number of benefits. Among these is access to higher trading leverage, an easier sign-up and verification process, and thus also the ability to trade more or less anonymously, which is important for some people. Extrasum is an unregulated broker, this is a source of major concern. When trading forex, cfd and cryptocurrency we always recommend you use a regulated broker that is licensed to trade financial instruments.
BrokerAdvantages FXTM a regulated forex broker , offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts. All information on The Forex Geek website is for educational purposes only and is not intended to provide financial advice.
To avoid getting into such a situation, it’s important to only trade with forex brokers you fully trust. If Extrasum does not live up to these expectations, you may therefore instead choose to trade with a bigger and more reputable forex broker regulated in countries like Australia or in the EU. Extraum is scam company, don’t put your money in it. i had trading account and earned profit of 3000$ in a week. Extrssum bloked my account and snatch allmy hard earned profit.
Traders can use our free service but make their own decisions when choosing an online trading broker suited to their individual needs. Extrasum is an STP broker that provides traders with the MT5 platform for trading of multiple financial assets. They provide traders with educational resources and a customer support team. There is also a wide range of trading account types to suit clients of all levels. Any broker that does not request more than 1 lot turnover for 10$ of bonus is fair enough. That is a key you can recognize fraudsters and greed brokers. If they lied you once they will lie to you all the time.
There are multiple trading account options to choose from. We aim to provide unbiased online trading broker reviews to give traders a clear understanding of the different brokers available to them.
Traders also enjoy access to educational resources and a client support team. Forex trading imposes a high level of risks and is not suited for all traders and investors. As much as trading on foreign exchange markets may be potentially profitable, it can also lead to significant losses. Ensure that you have enough trading experience, knowledge and full comprehension of potential risks involved. Most derivative contracts have high leverage and low margin requirements.
reason they cited is “misuse of platform” they didn’t clarify what misuse was. this is most hectic experience with extrasum which i never forgot and will always hate extrasum. Traders needn’t have to worry themselves with such risk if they choose to trade with a brokerage regulated and authorized by a prestigious regulatory agency. Such agencies are the FCA in the UK or CySec in Cyprus which have been leading names in Forex trading for some time now. Their regulatory framework is composed of a number of strict rules which prevent clients from falling victims to fraud.
Many scammers choose not to disclose such information to would-be clients. Without proper information on the website we https://forexarena.net/ cannot be certain whether clients won’t be charged with any unexpected withdrawal or deposit fees once they invest.
Such rules include the segregation of accounts which assures that commingling with the client’s money is not possible. Furthermore, a license by such a regulatory body entails participation in a financial mechanism by which clients may be compensated if they suffer losses due to fraud or bankruptcy. With the FCA the compensation is up to pounds, where as with CySEC it is up to euro per person. With its head office in Kingstown, Saint Vincent and the Grenadines, Extrasum is an online trading broker that offers multiple financial instruments for online trading via the MT5 platform. There are multiple account options that are tailored to meet the individual trading needs of traders. Extrasum brings 150 USD NO deposit to trade Forex on the extrasum platform and earns profits.
According to the broker, clients who want to become task traders will have to apply and then go through a 15 day testing period where they have to demonstrate their trading skills. For skilled traders who get approved, various “tasks” will be assigned by the broker, and upon completion participants can allegedly earn payouts of up to USD 5,000 per month. FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
This is why we advise traders to always put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer. FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion. It is worth mentioning that some of the trading products and services in this Alpari Forex Broker Review may differ or not be available to traders in some countries due to regulations.
As always in such cases our best advise is to trade only with properly regulated brokers in Europe, Australia, Canada or the US. Extrasum was launched in 2017 and has since grown into an established online brokerage firm with over 3,679 registered users as of 2019.
They operate the Straight Through Processing execution model, which minimizes conflict of interest by routing clients’ orders directly to their liquidity providers. Clients can trade various tradable assets, including forex, metals, and commodities, using the MT5 trading platform, along with a range of trading tools. There are multiple trading account options with a required minimum deposit of $25. Extrasum is an online trading broker Currencies forex that operates the straight-through processing execution model, routing their clients’ trades through 12 large liquidity banks to ensure swift execution. Following its registration in 2017, the broker has witnessed a steady growth, with about 3,679 registered users as of 2019. The broker offers multiple tradable assets, such as forex, metals, and commodities for online trading via the sophisticated MetaTrader 5 trading platform.
Any statements about profits or income, expressed or implied, do not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold The Forex Geek and any authorized distributors of this information harmless in any and all ways. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. Hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading.
For example, these people behind Extrasum are a bunch of notorious liars. Never ever they say sorry or we will try harder to fix issues. No, they continue to lie and even become very angry (?!) Typical bad people and fraudster behave. Some time ago multibankfx have a decent promotion. Right now just Windsorbrokers have an active decent promo with fair conditions.
Experience live trading without any funding and avoid financial risk. Start with a Bonus account and explore real trading features. Moving over to trading instruments, Extrasum, like all forex brokers, offers a decent selection of currency pairs to trade in, with more than 60 such pairs to choose from. When it comes to other assets, however, the choices with this broker are much more limited, with only gold, silver, oil and natural gas to trade as CFDs. Extrasum is, in other words, one of just a few brokers we have reviewed here on FX-List that does not offer any stock indices, cryptocurrencies or single stocks for trading.
Hence, rapid price movements may inflict serious financial damage or even devastate your entire trading account. In terms of trading platforms that clients can use, Extrasum relies solely on the MetaTrader 5 platform, originally released by the Russian firm MetaQuotes Software in 2010. Although the platform is now quite a few years old, it still remains very popular and has a large user base all over the world. As a result, offering this platform is an extra benefit that has the potential to lure over traders who have previously used the same platform at other brokerages.