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ExTick Review - is it scam or safe?

ExTick Review - is extick.com scam or good crypto CFD broker?

RATING: 1 / 12 REVIEWS ExTick
ExTick is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account Min. deposit  Max. leverage* Spread
Standard Not specified 1:20 around $80 BTC/USDT

 * According to the information on the broker's website. Its platform shows a different thing.

 

ExTick is a cryptocurrency broker that does a rather poor job at presenting its offer to the public. We couldn’t find any information on different account types, spreads, nor minimum deposit required on its website. On top of that, we have major concerns regarding the credibility broker. Read the entire review to get all the details.

 

 

ExTick Advantages

 

Many cryptocurrencies covered, various pairings

Probably the only possible benefit of using this broker is the fact that it offers trading in wide range of Contracts-For-Difference (CFDs). Its product portfolio covers a lot of cryptocurrencies, indices, commodities and stocks, and all kinds of pairings between those are possible. The financial instruments in the platform are arranged in 5 categories: crypt vs. crypto, crypto vs. USDT, Indices vs. BTC, commodities vs. BTC and Stocks vs. BTC. Note that ExTick does not offer any forex pairs for trade.

 

 

ExTick Disadvantages

 

Not regulated

ExTick is a trademark of PPSAI GROUP LIMITED, a company allegedly headquartered in London, UK. It operates another brokerage brand, Traders4ever.

 

While it is true that many jurisdictions still haven’t regulated cryptocurrency venues like crypto-exchanges, this is not the case with CFD providers like ExTick.  Yet, the latter is not authorized to provide financial services by the UK’s Financial Conduct Authority (FCA), nor by any other governmental agency.

 

The fact that ExTick does not fall under any regulatory oversight means that its clients have no assurance for the security of their funds. 

 

No MetaTrader

ExTick offers its services on a web-based trading interface that is not unknown to us. We have reviewed a number of brokers providing the same trading platform, and all of them are shady and unregulated. Some of those are really scams - Trade Capital, XCoinBroker, to name a few. 

 

Surely, many traders will miss the advanced charting package of MetaTrader 4 or MetaTrader 5, thir support for automated trading via Expert Advisors (EAs) and the extensive back-testing environment.

 

 

>> Find some of the best MT4 brokers here <<

 

 

No clarity of trading conditions, no testing service

ExTick gives no information on its trading conditions and neither does it provide a test-drive of its trading platform. This is actually a typical thing for scam brokers. We had to open a live account (without depositing anything) to be able to see the spreads.

 

 

The broker's web-based platform. Click to zoom in.

 

No margin trading, despite the claims

Although it claims to provide leverage up to 1:20 on its website, when we opened ExTick’s platform, we saw that the levels are 1:1. This probably means that the broker does not provide trading on margin at all.

 

 

Conclusion

 

ExTick does not seem like a good choice of a brokerage. It has not presented its offer well, and instead of the MT4 uses some unproven platform associated only with shady companies. Yet, our most serious concern regarding ExTick is that it does not fall under any regulatory oversight, which means that every dollar invested with it is at risk.

 

We suppose this broker targets crypto enthusiasts who are not well-acquainted with financial markets, as ExTick will hardly tempt any experienced trader, given its offer and the lack of regulation. Those of you willing to trade in digital assets should be aware that there are far better options - major reliable crypto exchanges, as well as licensed forex brokers that offer trading in cryptocurrencies in the form of CFDs.

 

 

>> Trade Bitcoin with a regulated forex broker <<

 

 

To sum up the above:

 

Pros Cons
Many cryptocurrencies covered, various pairings Not regulated
  No MetaTrader
  No clarity of trading conditions, no testing service
  Margin trading not available
  Forex trading not supported

 

Latest news about ExTick
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Traders` reviews for ExTick

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

I've been scammed by this company

Please please please avoid this company, they will continue to take your money and as soon as you want it back it won't happen they'll get very aggressive and want more money.

I dealt with Adam Malina first, he promised the money was liquid and promised I could withdraw it, suddenly when I wanted it someone made some really bad trades and the account fell dramatically, they then threatened that if I traded and closed trades I'd loose everything.

Then appears Matthew Roth who is really aggressive and wanted more money to save the account and is basically using bully tactics to try get more money from me, this is a total scam I have recorded a lot of the calls and reported them PLEASE PLEASE AVOID.

Royce Turville 03/19/2019

I am scammed

Gave them a 250 deposit after a lot of pressure now have not seen any return or anything they wont answer phones or my emails, Just want my money back

donnie morrison 03/08/2019

Follow up (please read)

Just a follow on from my earlier post.. So I've had a very menacing call from a consultant at Extick (I can't get through when I call them) who got quite nasty and rude! He told me to "GROW UP"! I'm 63 years of age and quite mature and grown up thank you! He's since emailed me with a copy of my comments and this is his reply; (Note bold text.. completely unprofessional)

I don't need or want to be noticed Matthew Roth!!!! I want my money back! But if comments like mine and many others on here just manage to stop one more mug from dealing with you then it's worth it!! All the documentation you've asked from me.. I have sent!

WHY DON’T YOU TELL THE WHOLE TRUTH.
TELL PEOPLE THAT WE ARE HELPING YOU AND YOU NEED TO SEND DOCS FIRST AND THEN YOU WILL RECEIVE EVERYTHING.
WOW WHAT LIES PEOPLE SAY OVER THE NET JUST GET SOME NOTICE.
Yours Sincerely,

Matthew Roth
Financial Advisor in Cryptocurrency.
Trading Room: +442080894881
E-mail: [email protected]
Web Address: https://www.extick.com/

Stuarty 03/05/2019

Nightmare

crap i invested 200 quick enough to ring me to take deposit then sent email to confirm it with note say contact her any time the number she gave none working so call customer service to get answer phone have rang e mail them so many times ask them to contact me to no avail bullshitters

derek evans 03/02/2019

Scam - Avoid them like the plague

Deposited £200 to start the account made about £20 in 3 days they then put an account manager in charge of my account he called me trying to get me to invest my pension money and my isa monies I Said I would like to withdraw my initial deposit first they make it almost impossible to get it back. You call them to no avail a non speaking guy will answer the phone if answered at all they say all account managers are busy and they will call you back THEY DON’T
Avoid them like the plague they have no morals!!!

Stuart watt 02/28/2019

Most Definitely a scam

Deposited £200 to start the account but guess what we didn’t even get to point B when they start asking me to provide 3 forms of ID why???? To prove who I am even though they be calling me the past week and a half. They never asked for ID when I made the initial investment.

Always try to call with follow up but always told managers were on the other line — never get involved with these sharks they’ve no moral fibre

Rich Appiah 02/26/2019

they lost all my money as well as the profits I had made to date

they say if I put 10000 dollars into my trading platform they will use their own money to trade me back to profit They say they will put 200000 dollars onto my trading platform to do this ??

I had open trades that were closed at losses of 15000 dollars and 5000 dollars and 6000 dollars because they were over margin I had already closed a trade at 860 dollars profit

Barry Koten 02/02/2019

Scam ExTick

I have invest 24 000 Dollar and it have raised to 60 000 dollar and when I will withdraw they don't let my do that. They trade without my approving and trade on a high cost without my control, day take a high profit. All new trades goes minus but they taking a high profit.

I have tried to mail them but they always says they will look at this but nothing happen!

Peter Jönsson 01/31/2019

Extick - your money is not safe

I confirm this statement. Extick company is 99% a scam.
Unfortunately I click on an link where I was then contacted from a person from Switzerland and agreed to open an account with a deposit of €300. On Jan 17th I got an e-mail from a person as my account manager. He asked me to update my profil maily to provide a readable copy of my ID and Credit Card as well to download a document called DOD = Declaration of Deposit. I hesitated to sign the DOD document, cause I was not inform, nor asked to read the terms of condition prior to open an account. I got 2 additional calls from person who threatened me, if I will not do it then it would be a sign that I am a fraudsters: This was on Fr Jan 18, 2019. After I did upload the DOD document nobody get in touch with me. Calling back don´t possible. All phone numbers are either not in service or I was asked a message.

Anna 01/21/2019

Scam ExTick

I invested the £200 and made a small amount of money.However the trader tried aggressively to get me to invest more.When i declined he became rude and declined to deal with me.I told them to return my investment.They have now blocked my number I have left messages e-mails contacted my bank to no avail.This is a scam.

Terry Walsh 01/14/2019

Scammed possibly

I have deposited in excess of 20,000€ and to date have not been able to withdraw a penny. After complaining to support my money was immediately put into a very poor spread which immediately plummeted. I got a phone call from “financial control department “ which looks for more money from me in order to secure my assets during a bad time. I said I had no more money so they offered to put in credit which I said I couldn’t afford the controller said it was too good an account to lose so he said he was going to put it in anyway. He also said he told my account manager that if I wanted to withdraw funds that he was to let me. He has got another 5000€ from me in order to try make my account profitable again and to pay back the leverage. The account is slowly recovering “apparently “ and my next move now is to try recover the funds but I have not got a clue how to go about this. Let’s see how we go
. I hope it’s not a case of a fool and his money are easily parted. Ad. I’ve would be greatly appreciated.

Michael Shelley 12/25/2018

Probably scammed by Extick

Invested £7000 (9100$) with Extick a few weeks ago. They performed trades for me and now my account stands at just 151$ in credit. Some of the later trades look highly questionable showing substantial losses. I have not been successful in closing my account and cannot even get my 151$ returned to me. I think I have been duped big time and lost everything invested.

Mr Walker 12/10/2018
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