EXT.com

EXT is a modern forex broker, offering a range of options for its user, yet the question is: does it do things better than other firms, or will this one slowly blend in with the rest? Read on to find out.

EXT serves as the registered trademark of EXT LTD. The company has several subsidiaries, all of which are regulated by the relevant local authorities.

The Cypriot watchdog CySEC regulates XNT LTD, and as such is authorized to carry all necessary investigations by working under the law. All traders under CySEC are eligible for the Investors Compensation Fund of up to €20 000 should the broker become indebted. The leverage cannot go any higher than 1:30 due to ESMA law. There is a separate domain for Cyprus – ext.com.cy

Similarly, XNT LTD (exante.eu) is also regulated in Malta by the MFSA, enabling traders to be compensated a 90% of their investment of up to €20 000 if the broker becomes insolvent. The leverage is capped at 1:30.

The spread for the EUR/USD pair is 0.1 pips as seen from the demo account we opened.

EXT offers a very diverse portfolio of trading assets. These include Stocks, Currency Pairs, Crypto Metals, Futures, Options, Funds and Bonds. The list is impressive, and is in all honesty one of the largest we’ve encountered so far, which speaks a lot for this young broker.

The range of available languages included English, Spanish, German, Russian, Portuguese, Italian, Dutch and Chinese.

EXT LOGIN

The broker comes with its very own proprietary trading platform.

EXANTE TRADING PLATFORM

The trading platform can easily be compared to the MT4, and even though nothing can surpass the Мetatrader, this one does a superb job nonetheless. There is some room for optimizing the interface according to traders’ tastes. There are more than 50 technical indicators. Time frames range from 1 minute to 1 month, there are many drawing tools, and there is a quote monitor. This one is definitely worth the time.

The leverage is maxed out at 1:30, as ruled out by ESMA.

The EUR/USD spread, while using a demo account, is 0.1 pips which is incredible, but the broker has added some commissions attached to it.

There are commissions attached to forex spreads, and other assets, yet without a proper verified registration, one is unable to access the cost of commissions.

However the broker does give us a taste of Stock and Futures commission. We have attached the table for Stocks commissions below for your convenience.

The traders is available as a desktop platform (MacOS, Linux, Windows), as a browser trade, and can be downloaded from the AppStore or GoolglePlay.

EXT MINIMUM DEPOSIT

Once we started registering we got one important piece of information, that is crucial- the minimum deposit. We remind you that EXT is a legitimate broker, but it’s minimum investment requirement follows in the footsteps of some illicit brokers. Without further ado, the minimum deposit is €10 000.

This is an enormous amount, and it positions EXT as a broker that favors more prosperous users.

In the Terms and Condition we found out that the only depositing method is via Wire Transfer.

However, the base currency are very diverse: EUR, USD, AUD, CAD, CHF, CNY, GBP, HKD, JPY, MXN, NOK, PLN, RUB, and SEK.

Since the only way to deposit is by Wire Transfer, all deposits may take up to 5 days to process.

There are no fees when depositing.

EXT WITHDRAWAL TIME AND FEES

The MFSA and CySEC are guaranteeing that all withdrawals from EXT will be safe and secure under their protection.

There is no minimum withdrawal amount, however, every withdrawal, no matter the sum, is charged by a fixed fee of $30. The bank(s) involved in the transactions will probably issue their own fees.

The only way to withdrawal money is by Bank Transfer, and the time it takes to process a request is around 5 days.

Note that traders can withdrawal funds only in USD, GBP and EUR. This means that traders using different currencies than the aforementioned ones, will have imposed currency conversions charges.

There is a monthly maintenance fee of 0.5% if an account is inactive for more than 181 days and has less than €5000.

There is also a fee clause that is quite distressing, and is something that shady brokers usually include. The clause is found on the Fees Overview section, and includes a one-time subscription fee of 0.5%, a one-time redemption fee (whatever that is) of 0.5%, and a daily “safekeeping” charge of 3.5%.

This is indeed worrisome, and up until now nothing kept us from recommending EXT, but these charges have suddenly changed things.

Furthermore, here (Fees Overview) is the only mention of a MasterCard available as a payment methods. The paragraph claims that the minimum deposit with it is $10 000, that the minimum withdrawal is $50, and that there is a transaction fee of 1% (minimum $3).

This is the only mention of this, and even the legal document are devoid of any similar details.

BOTTOM LINE

Right at the end, things seem to take a drastic turn down. Let’s hope these last two nuisances found in the Fees Overview are mistakes, for if they are actually applied to registered users, we wouldn’t recommend EXT. The 3.5% daily fee will at a decent pace empty your account if one is not too careful.

Otherwise, EXT is a very solid broker with all the staples expected from such a service provider: worthy regulations, great trading platform and superb interface.