Extick Review (2023)

Is Extick a scam or legit broker?

No, it is not safe to trade with Extick. Extick is a newly established online trading provider, which establish their operation since July 2018 and offers CFD and Cryptocurrency instruments. Estick offers individuals the ability to trade a variety of digital assets through a web-based simple interface of a trading platform. The company states their address in London, UK while the operation performed through the owning company PPSAI GROUP LIMITED.

However, in order to be legit firm and offer financial investment service to the public, the company should maintain and prove its sustainable positions, as well as apply various rules in order to deliver safe trading conditions. All this is established and controlled strictly by the local authority FCA (Financial Conduct Authority), while it is mandatory to obtain an FCA license before you start the trading business. Yet, Extick didn’t bother to receive a license and to be authorized. Therefore, who knows which kind of business they are doing, willing to deliver and especially how they will treat the investors’ funds. Still, the company is a very fresh issue and there is no evidence or confirmation of their fraud nature, yet the operation with no license is definitely a good start for brokerage.

Conclusion

We advise all investors and traders to avoid Extick and other unregulated brokers. The lack of information about the broker’s regulation, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and BlackBull Markets.