Extordo Review – The Company Misleading Traders About Everything
Extordo company is owned by Etheria Solutions LLC. As the official address, the company claims to be one in the UK. However, the company is registered in St. Vincent and Grenadines. Which is a red flag already at the start.
Not only that, but many more discrepancies are coming with Extordo broker. Read this Extordo Review carefully to find out all the warning signs and what to do if you were their victim.
|Is This Company Safe?
|Have Warnings from:
|St. Vincent and Grenadines
|Proprietary web trader
|Forex, Commodities, Indices, Shares, Cryptos, ETFs
|Free Demo Account:
|How to Withdraw from This Company?
|UK broker without an FCA license is definitely for avoidance. If you had any issues with this broker, contact our team for advice on the refund procedure.
Legal info: Is Extordo legit?
Absolutely not. The company is registered since 2022 in St. Vincent and Grenadines. For less than two years, they are operating worldwide. Thus without authorization. Primarily, FSASVG doesn’t issue trading licenses anymore. Therefore, this broker should get licenses in the countries where they operate. In this case, FCA and ASIC. But also we are checking other trusted regulator registers like BaFin and CFTC.
Thus, the results were disappointing. Starting with the ones from the FCA. Because the company claims to have an office in the UK. After this, you already know that you will just throw your money away with this broker.
Who are Extordo clients?
Surprisingly, Extordo.com is mainly scamming traders from:
But whatever country you are coming from, check first with domestic regulators about the broker. This way you ensure that you get maximum protection. If you had any troubles with the Extordo scam broker, feel free to contact us. A refund might be your solution!
If you check Trustpilot reviews, you might think this broker is legit. In less than 2 years they got 104 comments on the platform. Most of those with the highest rating. But what’s strange is that many comments are with generic names. Many of those from France and Switzerland are hardly domestic.
Thus, the negataive ones come from traders in the US, UK and Australia. If you are coming from any of those countries be careful. In case you have trouble with withdrawals, our team is available for consultation. Free of charge, most importantly
Leverage, Commissions, Spreads, Fees and Taxes
For allegedly UK-based broker they have quite mysterious trading conditions. The company doesn’t reveal any information about leverage, fees and spreads. Have in mind that leverage is risky. Therefore, European regulators limited the maximum allowed leverage to 1:30.
Important to realize is that scam brokers like Extordo can use different tactics to extract more money. Such as withdrawal fees or non-existent taxes. Be aware of those if you want to avoid becoming their next victim. For the same purpose, you might as well read our latest FxActive review.
Extordo Trading Features
All the trading features are irrelevant if the company doesn’t offer protection. Nevertheless, Extordo doesn’t offer any advanced features. Only basic trading functionalities, without Expert Advisor or copy-trading features.
Is Extordo legit?
To sum it up, no. The company is misleading traders to believe their legitimacy. One of the ways to get their trust is through the UK address. But a little digging reveals their lies.
Available Trading Assets
Instruments availability with Extordo broker is quite solid. But it’s worthless without adequate tools and protection. Anyway, you can trade with assets from 6 classes
- Forex (GBP/USD, AUD/HKD)
- Commodities (natural gas, gold)
- Indices (UK100, US500)
- Shares (AMD, Nvidia)
- Cryptos (BTC, ETH, LTC)
- ETFs (QQQ, IBB)
With Extordo broker you can choose between 5 account types. Those are:
- Student $250
- Standard $5.000
- Investors $25.000
- VIP $50.000
- VIP Platinum $100.000
However, the only benefits broker promotes are trading signals, full education content and better spreads.
Mobile Trading App
Mobile trading with Extordo broker is only available via browser. Sadly, the company doesn’t offer a dedicated mobile app. Therefore, iOS or Android device traders might look for different options.
The crucial downside of this broker is missing a demo account. Therefore, you can’t test out their services and your skills. Thus, they expect you to trust them on their word.
In fact, the educational package is another failure of this scam broker. Even though they mention education on their website, such a page doesn’t exist. On the other hand, with licensed brokers, you can find many more educational materials and even live sessions.
Generally speaking, those generic reviews about the company would say everything is nice and shiny. But don’t forget that the company is not regulated and operates offshore. Funding methods are quite unclear with the company because they use icons of trusted payment providers.
Also, the company offers bonuses that are banned in Europe. So every clue points out potential issues with withdrawals.
Extordo customer support is potentially available via a couple of methods. Those are two phone lines, e-mail and social media. Oh no, social media doesn’t work on their website either. It’s non-existent like many other functions.
Without transparent working hours, you can only guess when are they working. But even if they are working, will they respond remains the question. Most likely, depends if you want to deposit or withdraw the funds.
Key Information To Consider About Extordo?
As can be seen, there are many flaws in this broker. Starting with a false address and misleading facts about registration. Also, the company is not licensed anywhere and lacks transparency in terms of trading conditions, fees, commissions and withdrawals.
Is Extordo Safe?
No. The company doesn’t provide any funds protection measures. On top of that, Extordo is not a licensed broker.
How Does Extordo Scam Work?
Broker lures traders on social media with attractive adverts to make initial deposits. After that, it’s all constant pressure to deposit more. Yet, to withdraw money is mission impossible.
How To Withdraw Funds From Extordo?
Traders can request withdrawals directly through their web-based platform. But if you face any issues or you did already, contact us to assist you with the refund.