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Is 1000EXTRA safe?

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Is 1000extra Safe or Scam？

Introduction

　　In the ever-evolving world of forex trading, brokers play a crucial role in facilitating transactions, providing platforms, and offering various financial instruments. One such broker is 1000extra, which positions itself as an offshore forex and CFD trading platform. However, the question remains: is 1000extra safe for traders, or does it lean more towards being a scam？

　　Given the proliferation of online trading platforms, it is essential for traders to exercise caution and conduct thorough evaluations before committing their funds. The forex market is rife with both reputable brokers and those that may engage in dubious practices, making it imperative for traders to assess the legitimacy and safety of their chosen brokers. This article employs a comprehensive investigative approach, analyzing multiple aspects of 1000extra, including its regulatory status, company background, trading conditions, and customer experiences.

Regulation and Legitimacy

　　The regulatory status of a forex broker is one of the most critical factors in determining its safety and legitimacy. A regulated broker is subject to oversight by financial authorities, which helps ensure that it adheres to industry standards and protects client funds. Unfortunately, 1000extra operates as an unregulated broker, registered in Saint Vincent and the Grenadines, a jurisdiction known for its lax regulatory framework.

Regulatory Body	License Number	Regulatory Area	Verification Status
None	N/A	Saint Vincent and Grenadines	Unverified

　　The absence of regulation raises significant red flags regarding the safety of trading with 1000extra. Without oversight from reputable authorities, traders may face increased risks related to fund security, transparency, and ethical trading practices. Historical data indicates that offshore brokers often lack accountability and can engage in practices detrimental to investors. Thus, the question remains: is 1000extra safe to trade with, given its unregulated status？

Company Background Investigation

　　1000extra is operated by Mil Xtra Ltd., a company that has not provided substantial information regarding its operational history or ownership structure. The lack of transparency surrounding the company's background is concerning, as it raises questions about its credibility and commitment to ethical trading practices. Furthermore, there is no verifiable information about the management team, which diminishes the trustworthiness of the broker.

　　The company's website has faced accessibility issues, which further compounds the uncertainty surrounding its operations. A broker that fails to maintain a functional online presence may indicate underlying operational problems. Therefore, the lack of transparency and information disclosure surrounding 1000extra leads to skepticism about its legitimacy and safety. In conclusion, the question of is 1000extra safe becomes more pressing when considering the company's obscure background.

Trading Conditions Analysis

　　When evaluating a broker, it is essential to understand the trading conditions they offer, including fees, spreads, and commission structures. 1000extra imposes a minimum deposit requirement of $1,000, which is relatively high compared to many regulated brokers that allow traders to open accounts with deposits as low as $5.

Fee Type	1000extra	Industry Average
Major Currency Pair Spread	2 pips	1.0 - 1.5 pips
Commission Model	None	Varies by broker
Overnight Interest Range	Not specified	Varies by broker

　　The spread of 2 pips for major currency pairs is not competitive, as many brokers offer lower spreads. The absence of a transparent commission structure raises concerns regarding potential hidden fees. Traders should be cautious of brokers that do not clearly outline their fee structures, as this could lead to unexpected costs. Thus, the question of is 1000extra safe arises again, especially when considering the unfavorable trading conditions.

Client Funds Security

　　The safety of client funds is paramount when selecting a forex broker. 1000extra does not provide adequate information regarding its fund security measures, such as segregated accounts or investor protection policies. Segregated accounts are essential for ensuring that client funds are kept separate from the broker's operational funds, providing an additional layer of security.

　　Additionally, there is no mention of negative balance protection, which safeguards traders from losing more than their deposited funds. The lack of these critical safety measures raises significant concerns about the security of funds deposited with 1000extra. Given the absence of transparency regarding client fund safety, it is reasonable to question is 1000extra safe for traders looking to invest their money.

Customer Experience and Complaints

　　Customer feedback is a valuable indicator of a broker's reliability and service quality. Numerous reports indicate that clients have faced challenges when attempting to withdraw funds from 1000extra, with many alleging that their requests went unanswered. Common complaints include unresponsive customer support, withdrawal issues, and pressure to make additional investments.

Complaint Type	Severity	Company Response
Withdrawal Issues	High	Unresponsive
Poor Customer Support	Medium	Slow to respond
Pressure to Invest	High	Reported by multiple users

　　For instance, several clients have reported being pressured by account managers to increase their investments, leading to significant financial losses. Such practices are indicative of potential unethical behavior, further casting doubt on the broker's integrity. Therefore, the question is 1000extra safe is increasingly relevant in light of these alarming client experiences.

Platform and Trade Execution

　　The trading platform used by a broker can significantly impact the trading experience. 1000extra offers the widely-used MetaTrader 4 (MT4) platform, known for its user-friendly interface and advanced trading tools. However, there have been reports of execution issues, including slippage and order rejections, which can adversely affect trading performance.

　　Traders have expressed concerns about the reliability of the platform, with some alleging that they experienced issues during critical trading moments. The presence of such issues raises the question of whether the broker is manipulating trades or simply lacking the necessary infrastructure to support efficient trading. Thus, this leads to further scrutiny regarding is 1000extra safe for traders seeking a reliable trading environment.

Risk Assessment

　　Overall, trading with 1000extra presents several risks that potential clients should consider. The lack of regulation, transparency, and customer support issues contribute to an elevated risk profile for this broker.

Risk Category	Risk Level (Low/Medium/High)	Brief Description
Regulatory Risk	High	Unregulated broker
Fund Security Risk	High	No segregation of funds
Customer Support Risk	Medium	Poor response rate

　　To mitigate these risks, traders are advised to conduct thorough research, avoid investing significant capital with unregulated brokers, and consider alternatives that offer better protection and transparency.

Conclusion and Recommendations

　　In summary, the investigation into 1000extra reveals significant concerns regarding its safety and legitimacy. The broker's unregulated status, lack of transparency, unfavorable trading conditions, and negative client experiences raise serious questions about whether is 1000extra safe for traders.

　　Given these findings, it is advisable for potential clients to exercise extreme caution and consider alternative brokers that are well-regulated and provide clear information about their operations. Reputable brokers such as XM, eToro, and Plus500 offer safer trading environments and better client protections. Ultimately, traders should prioritize their financial security and choose brokers that adhere to industry standards and regulations.

Is 1000EXTRA a scam, or is it legit?

The latest exposure and evaluation content of 1000EXTRA brokers.

1000EXTRA IS A SCAM

In June 2017, the broker 1000extra contacted me through a call offering me advice and managing my account through a supposed advisor. That is how they appointed me an advisor named Fernando Colin who called me every day supposedly to teach me how to invest in the stock market, telling me about many numbers of profits in the market since he managed accounts of several people giving him profits. That's how I started with them to invest since they worked with fundamental news such as the unemployment rate in the United States, the agricultural payrolls. Whenever this type of news came out, they would not be able to take an order by recording the day before so that my advisor would do it in my place. My advisor offered me a return of 20% of profits with that operation, so I started with 1,000 dollars and later increased it to 5,000 dollars with a promissory note of 4,000 pesos, that was all my capital that I had. But my advisor always told me to increase my account more in order to have higher profits. Thus, on a market news date, he told me to increase my account, of which I had no more capital to invest. At that moment, he told me that if I had no more capital than the broker, he would lend me with his famous promissory notes, which are loans that they give you, but in 7 days you have to pay off that supposed loan. It was like that that he offered me 50,000 dollars, which I told him that Hera had a lot of money that he could not repay that money, then he told me for 25,000, I did not accept him either, of which he told me that he was going to consult with the area of loans that how much Hera spent the minimum 2 minutes and he told me that he had made the possible amount of 12,500 dollars, of which he spoke very well that he was going to help me with time to be able to pay that promissory note that he would lend me money and that in a week he would return it Making the withdrawal of my bill. It was so that I took that loan of course that the next day the profits were there but I had to cancel that loan to be able to withdraw it, I could not take my capital or my profits to be able to cancel it only with cash deposits. It was so that I had to lend myself money to be able to pay it, it took me more than 7 days because it was not easy to get it and on her part Hera put a lot of pressure on me, she told me in the emails that if I don't cancel as soon as possible they would cancel my account. So with a lot of effort I canceled it, they were with bank deposits in parts, the first ones were reflected on the platform, but the last deposit took a long time to be reflected, then when it was already reflected, he told me that since I spent the estimated time in a promissory note clause, he said that I had to make operations for the amount borrowed for a week. This is how my advisor told me why I didn't know anything about the market which trades to open and that was where the losses started, despite the fact that I questioned him about the trades that were negative, he told me not to worry that the market would recover later. It was there that I lost all my capital. Unfortunately I couldn't do anything about it because he managed my account. When all my capital was lost I asked him for an explanation, then he contacted me by phone asking for forgiveness since the market went against me and if I wanted to recover my capital I had to deposit more money and if I didn't have it he would give me a loan for 30,000 Dollars. Of which it was to return to the same thing that I had to pay off that loan first to be able to withdraw it is where I decided to leave it there. Look for information on the internet and I saw that I was not the only one if there were not a lot of victims of this broker that until now continue to scam more people but with another name. It was a tough experience.

Induced fraud

They didn't give me my withdrawals and then they closed my account

Scam

He pursuaded me to invest $500 this September. I just traded several tiners and my positions were wiped out in 15 days. The he never replied to me. He is Enzo Marrone...

Scam

Hi, WikiFX. Experience: I deposited $200 into 1000EXTRA . One week later, the consultant asked me to borrow a loan to trade XAU/USD, which I refused. Since I needed to return the $3800loan in 8 days, i.e., June 18th, whatever gains or losses. I wanted to make a withdrawal, while 1000EXTRA refused and asked for a margin. What should I do?

1000EXTRA Similar Brokers Safe

Whether it is a legitimate broker to see if the market is regulated; start investing in Forex App whether it is safe or a scam, check whether there is a license.

1000EXTRA latest industry rating score is 1.56, the higher the score the safer it is out of 10, the more regulatory licenses the more legitimate it is. 1.56 If the score is too low, there is a risk of being scammed, please pay attention to the choice to avoid.

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