There are many brokerage firms that come up from around the world almost every year. The financial markets without a doubt have given rise to a class of wealthy individuals and more so different types of investment vehicles.
The more there are brokerage firms, the more there are people accessing these financial investments that are why brokerage firms like ExtoCapital have been introduced so that more people from every corner of the world can access their services.
ExtoCapital was started in 2007 before the massive economic crisis rocked the world to its core. The brokerage firm has its offices in the Virgin Islands, but its parent company is located in Switzerland one of the most notable financial capitals of the world.
The firm is regulated both in Switzerland and the Virgin Islands, and since it is within the European Union, it is also compliant with the MiFID rules and regulation in regards to client fund protection and proper financial conduct.
These given regulations have built confidence among the clients, and they have no reservations when it comes to placing their funds in the hands of ExtoCapital.
Unique characteristics of ExtoCapital
There are a few things that every client looks for before investing into any brokerage firm; the first thing is to check if the brokerage firm has jurisdiction in your region, for United States clients who may want to use the services of ExtoCapital may find this a little difficult since ExtoCapital has no jurisdiction in the United States.
Another thing that a client would not mind knowing is if the brokerage firm offers their services in various languages given language barriers have been a source of the business barrier as well, so the more languages a business conducts their business in the better.
As a result of this fact, ExtoCapital offers their services in several languages; Arabic, Farsi, English, French, Hungarian, and Spanish.
Although these are not as much as you may think but most of their clients reside in regions where these languages are widely spoken. Another thing that every client wants to know is the minimum capital that they would require to open an account with ExtoCapital.
That is why ExtoCapital has two distinct accounts at their disposal; they have the standard account that requires a minimum of $ 1,000, and they have an institutional account that requires a minimum of $30,000, and this account comes with some advantages over the standard account, the institutional client request for specialized services that may be hard to get as a standard account holder.
Also if you are a savvy client, you would like to know which type of broker ExtoCapital is, ExtoCapital is a No Dealing Desk broker which means all the clients’ orders are sent straight to the liquidity provider so that they can be paired against a similar sized order.
This means that ExtoCapital can only make their money if you are trading and there is no other way around it.
They have very tight spreads this making their client experience rather economic and the clients get to keep a huge chunk of their profits.
ExtoCapital also offers a tidy leverage for their clients, but it is categorized depending on the type of client you hold. For standard account holders you get access to a 400:1 leverage while the institutional account holders get a 100:1 maximum leverage.
Also, the deposited amount does not gain interest so your account balance will only be affected by your trading and deposit or withdrawal transactions. Also, something of importance is the minimum trading size which is $10,000 or 0.1 lots which translate to $1 per point earned.
They have two major currencies that their clients can choose as their base currencies for their accounts; they can either choose the US Dollar or the Euro.
Review of ExtoCapital Trading Platforms
Investing in proper trading technology means that your clients will have the edge they need in this fast paced industry where speed is paramount for success.
This has led ExtoCapital into developing one of the best proprietary trading systems in the business. They have created the extoPro trading platform which comes in three variations; the Trader platform which is the desktop version, the Light version which is the web-based trading platform and the mobile version for all the tech heads out there.
All these trading platforms have been optimized to sync with each other so that a trader can always manage their positions on whichever platform they are on.
The trading platforms have some features that may be short handing the trader; the trader cannot place orders at market, so, the only trades the trader can make are limit orders, the trader cannot place stop orders as well, the trader has no access to the trailing stop feature which means the trader should manage the trades manually, the platform comes without a charting package, so that is the trader’s responsibility to bare.
The platform even with these shortcomings the trader can trade off the charts themselves, and they can access the markets on a 24-hour basis. The trader can always use the demo account to test a new strategy so they can do it risk-free.
ExtoCapital Customer Support
The best businesses have always been keen to offering the best customer support services a client may need. So ExtoCapital has stuck to improving their services to their clients through various channels.
They have a call back service that the client can use if they want to speak to them directly. They also have a phone number that the clients can use if they want a personalized service; they also have a live chat that is used by clients who may need urgent help for issues that are not as serious.
There is an e-mail that their clients’ can access, and one other thing that they have done is each client has a personalized account manager who can handle all the client’s issues related to their account. All these channels can be accessed through multiple languages.