EXTENX Forex Broker

Extenx Forex Broker - Complete Information Guide

1. Broker Overview

Company Name and Establishment:

Extenx is a forex broker that was founded in 2017. Since its inception, the company has aimed to provide a comprehensive trading platform for both retail and institutional clients.

Headquarters and Main Offices:

The broker is headquartered in New Zealand, with additional operational offices to support its global client base.

Company Nature:

Extenx operates as a private company, focusing on delivering quality trading services without being publicly listed.

Primary Markets and Clientele:

The broker primarily serves retail traders, institutional clients, and high-net-worth individuals. Its services are tailored to a wide range of trading styles, from beginners to experienced traders.

Company Development and Milestones:

Since its establishment, Extenx has made significant strides in the forex trading space, launching various trading products and enhancing its platform features to cater to the evolving needs of traders.

Parent Company or Group Relations:

Currently, Extenx operates independently without any publicly disclosed parent company affiliations.

Business Model Overview:

Extenx operates mainly in the retail forex market, providing services such as forex trading, contracts for difference (CFDs), and various asset management solutions. The broker is committed to offering competitive trading conditions and a user-friendly trading experience.

2. Regulatory and Compliance Information

Main Regulatory Bodies:

Extenx is regulated by the Financial Services Provider Register (FSP) in New Zealand, ensuring compliance with local financial laws.

Regulatory Numbers:

The broker holds the license number 549786 under the FSP, which governs its operations.

License Validity and Scope:

The regulatory license is valid as long as the broker adheres to the standards set by the FSP, which includes regular audits and compliance checks.

Legal Entities in Different Regions:

Extenx operates under its registered entity in New Zealand, catering to clients primarily from the United States and other countries.

Client Funds Segregation Policy:

Client funds are held in segregated accounts, ensuring that traders' money is protected and kept separate from the broker's operational funds.

Investor Compensation Fund Participation:

Extenx does not currently participate in an investor compensation fund, which may affect the level of protection for clients in the event of insolvency.

KYC and AML Compliance Measures:

The broker adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring clients to provide identification and verification documents to maintain account security.

3. Trading Products and Services

Number of Forex Currency Pairs and Major Varieties:

Extenx offers a selection of 27 currency pairs, including major pairs such as EUR/USD, GBP/USD, and USD/JPY, providing traders with ample opportunities for forex trading.

CFD Product Categories:

The broker provides CFDs across various asset classes, including indices, commodities, stocks, and cryptocurrencies, allowing for diverse trading strategies.

Special Products or Unique Trading Varieties:

While Extenx focuses primarily on forex and CFDs, it also offers unique trading features such as fixed spreads and the ability to utilize expert advisors for automated trading.

Product Update Frequency and New Additions:

The broker regularly updates its product offerings based on market demand and trader feedback, ensuring a dynamic trading environment.

Retail Trading Services:

Extenx provides retail trading services with competitive spreads, allowing traders to engage in various asset classes with minimal barriers to entry.

Institutional Client Services:

The broker also caters to institutional clients by offering tailored solutions, including liquidity provision and white-label services.

Asset Management Services:

Extenx does not currently provide dedicated asset management services but focuses on empowering traders with the tools needed for self-directed trading.

4. Trading Platforms and Technology

MetaTrader 4/5 Support:

Extenx supports the widely-used MetaTrader 4 (MT4) trading platform, providing traders with a robust environment for executing trades and analyzing market conditions.

Proprietary Platform Details:

The broker does not offer a proprietary trading platform, focusing instead on the established MT4 platform to meet trader needs.

Web-Based Trading Platform:

Extenx provides a web-based trading platform that is accessible from any device with internet connectivity, ensuring flexibility for traders.

Mobile Application Support:

The broker offers a mobile application for both iOS and Android devices, allowing traders to manage their accounts and execute trades on the go.

Execution Models (ECN, STP, Market Making):

Extenx operates on a market execution model, providing traders with fast order execution and minimal slippage.

Server Locations and Technical Infrastructure:

The broker's trading servers are located in secure data centers, ensuring low latency and high reliability for trading operations.

API Access and Automated Trading Support:

Extenx does not currently offer API access for automated trading, focusing on manual trading strategies through the MT4 platform.

5. Account Types and Trading Conditions

Standard Account Conditions:

The minimum deposit for a standard account is $500, with fixed spreads starting from 1.8 pips on major currency pairs. There are no commissions charged on trades.

Advanced Account Types:

Extenx offers a professional account type with enhanced features, although specific details on minimum deposits and spreads are not publicly available.

Special Accounts:

The broker provides an Islamic account option, catering to traders who require swap-free trading conditions.

Demo Account Policy:

Extenx offers a demo account with a virtual balance of $100,000, allowing traders to practice without financial risk.

Leverage Ratio Range:

The maximum leverage available is 1:200 for forex trading, enabling traders to amplify their positions.

Minimum Trade Size:

The minimum position size for trades is set at 0.01 lots, accommodating both small-scale and larger traders.

Overnight Fees Policy:

Extenx applies overnight fees based on the interest rate differential between the currencies traded, which is standard practice in the forex industry.

6. Fund Management

Supported Deposit Methods:

Extenx accepts various payment methods for deposits, including bank transfers and credit/debit cards, ensuring convenience for clients.

Minimum Deposit Requirements:

The minimum deposit requirement varies by account type, with a standard account requiring a deposit of $500.

Deposit Processing Time:

Deposits are typically processed within one business day, allowing traders to access their funds quickly.

Deposit Fees:

There are no fees for depositing funds via bank transfer or credit/debit card.

Withdrawal Methods and Restrictions:

Withdrawals can be made using the same methods as deposits, with specific restrictions based on the payment method chosen.

Withdrawal Processing Time:

Withdrawal requests are generally processed within 1-3 business days, depending on the method used.

Withdrawal Fee Structure:

Extenx does not charge withdrawal fees, allowing traders to access their funds without additional costs.

7. Customer Support and Educational Resources

Support Channels:

Extenx offers customer support through various channels, including phone, email, live chat, and social media platforms.

Service Hours and Time Zone Coverage:

Customer support is available 24/5, covering major trading hours across different time zones.

Multilingual Support:

The broker provides support in multiple languages, including English and Chinese, catering to a diverse client base.

Educational Resource Types:

Extenx offers a range of educational resources, including webinars, tutorials, and eBooks, to help traders improve their skills.

Market Analysis Services:

The broker provides daily market analysis, news updates, and research reports to keep traders informed about market trends.

Trading Tools:

Extenx offers various trading tools, including calculators, economic calendars, and signal services, to assist traders in making informed decisions.

8. Regional Coverage and Restrictions

Primary Service Markets:

Extenx primarily serves clients in the United States, New Zealand, and other regions where it is licensed to operate.

Regional Office Distribution:

The broker has operational offices in New Zealand, facilitating support for its global clientele.

Countries/Regions Not Accepted:

Extenx does not accept clients from certain countries, including those under international sanctions.

Special Restrictions Notes:

Clients should verify their eligibility based on their residence, as regulatory restrictions may apply depending on local laws.

In summary, Extenx broker provides a comprehensive suite of trading services tailored to the needs of both retail and institutional clients. With a focus on competitive trading conditions, regulatory compliance, and robust customer support, Extenx continues to position itself as a reliable option in the forex trading landscape.