1/5

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Is Extick a scam broker?

Overview:

ExTick is an offshore broker with a very bad presentation of features provided to traders. There is very little information on the trading environment. Follow this review to gather more information on this broker. 

About ExTick:

The ExTick offers a plethora of Contracts For Differences (CFDs) this is the only advantage. The service is provided on cryptocurrencies, indices, commodities, and stocks, and a huge collection of cryptocurrency pairs. Bear in mind this broker refuses to provide foreign currency pairs for trading.

The brand name ExTick is owned and maintained by PPSAI GROUP LIMITED situated in London, UK. Also, this is the same company that manages another brokerage firm called Trader4ever. The broker does not have the authority to provide any financial services as it is not authorized by any governmental body. The broker is not overseen by any regulatory body which means trader’s funds are at high risk. ExTick features its unrecognized web-based trading platform which is alien to many traders. All the brokers who are using the same platform are already banned by the regulatory body.  As discussed earlier crucial information on leverage, the minimum deposits, spread, and withdrawal is missing. ExTick does not provide a demo account. These are the main traits of scam brokers. One can get access to this information only after opening a real account.

The false claim about the leverage up to 1:20 on its website falls flat when we opened ExTick’s platform. The leverage provided there was shocking 1:1 this is the indication of zero margins on trading. Authorities have released a potential warning for traders about ExTick. There are several reasons which make it easier for traders to think twice before investing in them.

Is ExTick scam or legit?

The ExTick will be a bad choice for traders. This broker is not versed with offers it is making. The lack of MetaTrader4 will definitely bug the traders. The platform used by the broker is linked especially with the scam brokers. Also, missing on any authoritative and regulatory body makes investors fund prone to lose. This broker wants to bring evolution in cryptocurrency exchange. Keeping in mind the huge anticipation for cryptos, there are many brokers available in the market who can provide one with the proper facilities and are regulated. With the little information provided on account details, minimum deposit, false information, and lack of demo account it is advised to stay away from such dubious brokers.