Broker Review – 1000 Extra
Registered as an IBC in the Republic of Vanuatu, 1000 Extra is a broker that has combined the experience and knowledge of a group of consultants, entrepreneurs and financial traders who have a joint total of more than 80 years in the financial markets. Complying with the highest standards of safety and quality, 1000 Extra provides its customers worldwide with specialised financial intermediation services, offering an extensive selection of services and products that are designed to give users the best possible experience and the best chance of success in their trading enterprises, whether they plan to trade in Forex, indices, futures, equities or CFDs.
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Does 1000 Extra Offer Different Account Types?
It is always important for brokers to provide for the needs of a wide range of different traders, from the beginner to the professional, and part of this is offering a choice of account types that are tailored to different trading styles. 1000 Extra have taken this on board and offer potential clients three distinct account types.
Fledgling investors may be attracted to 1000 Extra’s Silver account which is designed for those traders who have limited or even no experience in the financial markets and who are looking for the opportunity to get some hands on practice to develop their own trading style while still minimising their risks. The minimum amount required to put down as a deposit is $1,000, with the maximum amount for this account type being $5,000. Silver account holders are allowed to trade in all of the available financial assets and receive any special offers or bonuses applicable to the amount of deposit that they have paid.
The Gold account is 1000 Extra’s standard account designed for traders with some knowledge and experience of the markets. The lowest deposit required to open this account type is $5,000 with the maximum amount being $10,000. Account holders enjoy all of the benefits extended to Silver account holders but also have the use of an analyst who can address any possible queries.
The most experienced investors will appreciate the opportunity to open a Platinum account with a minimum deposit of $10,000. This high level account gives a preferential level of customer support with consultations on an individual basis, a wider range of assets to invest in, the option of receiving custom reports, improved account management and more advantages.
There is also the opportunity to open a demonstration account if you would like to try out the trading platform or experiment with strategies before making the commitment to open a live account.
Which Assets are Available and What is the Trading Platform Like?
1000 Extra have adopted the MetaTrader MT4 platform, which is one of the most popular trading platforms within the financial industry. Easy to use and offering a wealth of excellent features to facilitate trading for both novices and professionals, with advanced charting tools, technical analysis indicators and Expert Advisors available. MT4 can be accessed in many ways for the convenience of the trader, so whether they prefer to use their home PC or laptop or whether they like to trade while on the move via their tablet or smartphone, this user friendly platform, which is ideal for all levels of investor, can be used.
Investors are able to choose from a range of instruments for trading including:
- Forex – all of the popular currencies and combination crosses
- Stocks – traders can invest in most of the top multinational companies like Google, Apple, Microsoft, Amazon, General Electric and Coca Cola as well as equities of international banks and oil companies
- Futures – contracts are available in precious metals, agricultural products, financial products and commodities
- Metals – traders have the chance to trade on the world’s most popular spot metals including gold and silver
1000 Extra Special Features
1000 Extra believe in the importance of improving their clients’ knowledge of the financial markets and helping them to hone and develop their trading skills. To this end, they offer financial education to their customers, providing information and advice about strategies and the best ways of generating a profit from trades. Their personal account executives are happy to advise and supply information as and when required.
The 1000 Extra website also offers a selection of helpful tools to facilitate the investor’s trading experience including:
- a Pip calculator
- a Pivot calculator
- a Profit calculator
- a Fibonacci calculator
- a Margin calculator
Newly registered customers can also take advantage of a generous welcome bonus offered by this broker.
Customer Service Facilities and Banking Options Offered by 1000 Extra
1000 Extra take customer service very seriously and make sure that someone is on hand to deal with your queries and problems 24 hours a day, 7 days a week. Traders who are experiencing issues can either use the web form available on the website to submit their question or use the supplied telephone number to speak to a customer service advisor. There is also an email address provided on the website which can be used to obtain advice. The website itself also has a useful section with a trading glossary to help new investors to discover the relevant vocabulary and terms that they need to know. The website is available in either the English language or Spanish.
When it comes to withdrawal and deposit methods, 1000 Extra only offer two possibilities – a traditional bank wire transfer or using a debit or credit card. While transactions are well protected and secure, this is not as convenient as some other brokers who offer a broader scope of banking options including contemporary e-Wallets like Skrill and Neteller.
Overall, 1000 Extra is a good choice, especially for more experienced investors who are interested in benefiting from a Platinum account. The range of tradable instruments is good, however there are some downsides, including the lack of a live chat facility on the website and the limited range of payment methods which may deter those traders who prefer more modern options.