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 (STP) 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 Review Introduction
In this Extrasum review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including Extrasum.
Extrasum Platforms & Tools
The broker provides traders with the sophisticated MT5 trading platform, an intuitive trading platform that is packed with a range of trading tools and advanced capabilities, including support for automated trading using expert advisors. The platform is designed to suit all kinds of traders with its user-friendly interface. The broker makes the MT5 trading platform available as a desktop application for Windows and Mac computers, a web platform, and a mobile app that is developed for Android and iOS devices and can be downloaded from the respective app stores.
Extrasum Research & Education
There is no educational material on the broker’s website except the FAQ section.
Extrasum Trading Accounts
The broker gives traders a choice of different trading account options to meet their trading objectives and capital. The account types include:
- Nano Account: This is best suited for amateur traders and has a minimum deposit requirement of $25, leverage of up to 1:200, and low spreads from 0.8 pips.
- Micro Account: The Micro Account charges zero commission on trades and requires an initial deposit of $100 to begin trading. The spreads begin from 0.6 pips while the maximum leverage is capped at 1:200.
- Standard Account: With a required minimum deposit of $500, the Standard account offers a range of competitive trading conditions, such as low spreads, zero commissions, and leverage of up to 1:100.
- Raw Spread Account: As the name implies, the Raw Spread Account offers raw spreads from 0 pips. It offers maximum leverage of 1:100 whilst charging a commission fee of $12 on trades. The minimum deposit required to operate this account type is $1,000.
- Managed Accounts: With a required minimum deposit of $25,000, the Managed Account is designed for the more advanced traders with deep pockets. It has a leverage of up to 1:100 and spreads starting from 0 pip.
Demo accounts are also available to help beginner traders to become familiar with the broker’s platforms whilst trading with virtual funds.
Extrasum Account Funding
The following payment methods are available at Extrasum for both account deposit and withdrawal purposes: wire transfer, credit/debit cards, and online payment processors.
Extrasum Customer Service
Extrasum provides traders with a professional client support team that is always available to offer knowledgeable responses to clients’ inquiries via telephone, email, Live Chat, or social media.
Extrasum is a trading name of Extrasum Inc., which is incorporated in and registered by the Financial Services Authority of Saint Vincent and the Grenadines as an International Brokerage Company with the registration number: 24360 IBC 2017.
Extrasum Review Summary
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. There are multiple trading account options to choose from.
It is worth mentioning that some of the trading products and services in this Extrasum review may differ or not be available to traders in some countries due to regulations. As brokers’ terms can change over time, please verify all information is up to date directly from the Extrasum broker website which you can visit by using the link below.
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 with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.