General information and regulations of Extra Global Trading
Extra Global Trading is an online forex broker established less than 2 years ago in Liechtenstein without any valid regulation now.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.
At the end of the article, we will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.
Market instruments
Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks.....Extra Global Trading allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on Extra Global Trading.
Spreads and commissions for trading with Extra Global Trading
Extra Global Trading does not detail on its website additional trading costs such as spreads, commissions, SWAPs, etc. These costs are very important when calculating profits and losses, and should be considered in aggregate and not chosen in isolation. If you want to trade with Extra Global Trading, we recommend that you take the time to calculate these transaction costs.
Account Types for Extra Global Trading
Demo Account: Extra Global Trading provides a demo account that allows you to try out the financial markets without the risk of losing money.
Live Account: Extra Global Trading offers a total of 3 account types: micro, standard and premium. the minimum deposit to open an account is 500, 5,000 and 50,000 euros respectively. If you are still a beginner and don't want to invest too much money in Forex trading, a micro account will be the most suitable option for you. However, we should also realize that too little capital not only reduces losses, but also reduces profitability. Therefore, you may find it “unexciting” or unprofitable. In addition, accounts with smaller initial deposits tend to have poorer trading conditions.
Trading platforms offered by Extra Global Trading
The company's trading platform Activ8 is a self-developed platform that can be used on computers, cell phones and tablets.
Leverage offered by Extra Global Trading
Extra Global Trading offers a maximum leverage of up to 1:400, which is a generous offer and ideal for professional traders and scalpers. However, since leverage can magnify your profits, it can also result in a loss of capital, especially for inexperienced traders. Therefore, traders must choose the right amount according to their risk tolerance.
Deposit and withdrawal methods and fees
In Extra Global Trading, the deposit and withdrawal policy are put in documents, which is not as clear as forms that many good brokers are able to provide.
Educational resources
A series of educational resources is available at Extra Global Trading, such as economic calendar, risk management, traders guide, currency converter, forex converter, etcetera.
Customer support of Extra Global Trading
Below are the details about the customer service.
Language(s): English
Service Hours: 24/5
Address: Support: support@extragt.com
Compliance: compliance@extragt.com
Users exposures on WikiFX
We have not received any reports of fraudulent activity at this time.
Advantages and disadvantages of Extra Global Trading
Advantages:
Educational resources
Many instruments available
Demo account
Disadvantages:
No effective regulation
Few information available
Few deposit and withdrawal methods
No MT4/MT5
No copy trading
Frequent asked questions about Extra Global Trading
Is this broker well regulated？
No, it is currently not effectively regulated and you are advised to be aware of its potential risks.
Does this broker offer MT4/MT5？
No, Extra Global Trading does not offer MT4 or MT5.
Is there an inactivity fee for accounts that have not been used for a long time /Is there a fee for keeping an account inactive？
Yes, after 6 months of inactivity, Extra Global Trading will charge an inactivity fee of 10% per month on the account.
