Extrasum Review: Extrasum.com Adverse Forex Broker Scam Exposed

Extrasum (Extrasum.com) is a CFDs and Forex scam that must be exposed to investors. This hideous broker has swindled hundreds of people. Lately, we have been receiving complaints from people all over the world who have lost money. And this is why we conducted a thorough and detailed review of Extra Sum. Don’t sign up with this brokerage firm until you get to read this review. Find out the truth!

Extrasum Review:

In all of our reviews, we always ask investors to read what other experts are saying about a broker. This helps you determine whether the broker is legit or not. Extrasum has gone a step further by creating a user-friendly homepage. This is the first step of making sure newbie investors get enticed and glued. And the process of trapping investors starts there. Don’t be fooled by the homepage, there’s more than meets the eye.

After making sure you will love the homepage, they will throw in some promises. Extrasum has not been left behind by throwing in some pretty huge promises. These promises include making investing easier, custom stop out, and investing without trading. According to the website, once you invest with Extrasum, you can earn without trading. GAMM investment group is the place where traders will make money for you.

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Who Owns Extrasum?

According to the disclaimer at the bottom of the page, this brokerage firm is owned by Extrasum Inc. This company is registered in St. Vincent and the Grenadines. By their own admission, this means that they are an offshore brokerage firm. Offshore brokers are notorious for flaunting industry rules and regulations. This is why we are up in arms against investors signing up with this broker.

Another red flag that we must mention is that we don’t know who actually is behind this company. This means we don’t know the CEO or any Board members of this company. Having to put a face on the ownership would have made verification easier. Sadly, these people don’t want to be contacted. And this is one way to know that we are dealing with a professional scam outfit.

Is Extrasum Licensed or Registered?

Being an offshore broker, we are sure that this Forex broker hasn’t used the right channels for registration. Registration number that they have used is just a gimmick to try and legitimize their platform. Registration number 24360 IBC 2017 is nothing but random numbers and algebra. Registrar of companies in this country does not use such algorithm to give companies registry. This is when we realized we are dealing with a Forex scam.

Why haven’t they posted any registration documents in their homepage? Simply because they don’t have any papers to back their claim of registry. Folks, we are dealing with a Forex scam that should be avoided at all costs. Note that they don’t even a phone number that we can reach them on their main homepage? As we said earlier, scammers will always want to avoid any personal contact.

Rigged Demo Account.

Another red flag that we spotted is the use of a rigged demo account. If you notice carefully, demo account makes over 90% successful trades. This is simply a ploy to trap investors into believing they can really win with a real account. This trick is used to entice members into signing up with a Real account. Folks will want to try out the success in demo account with a real account.

A real account is different since you will be using your hard-earned cash. This is one of those tricks that only professionals can spot. Sadly, most victims have fallen prey to this scam and surely, this must stop.

Fake Claims.

There are numerous fake claims that are posted on their homepage. Some of these claims are simply lies. How can they guarantee that you can make up to $5000 every month? Fact that they are guaranteeing this is what makes us question their legitimacy. Just like any market. The Forex market is always prone to unforeseen changes. These changes may occur due to political reasons, Boardroom wars, and others. Prices will change without warning.

How then can they guarantee $5000 every month? This is another empty promise that these scammers are making to try and sign up people.

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Are Funds Safe with Extrasum?

This being an offshore broker, its safe to say that your funds ARE NOT SAFE with Extrasum. How can they be? Fact still remains that we don’t know who actually owns this platform. It could be a front for drug traffickers or funding terrorism. This is one of the many reasons that we don’t believe funds are safe. Extrasum does not segregate accounts. What this means is that money is funded into one account.

Sadly, all members could be depositing money straight to the owner’s personal bank account. There’s no way of proving otherwise. Also, Extra sum does not participate in any compensatory scheme. This is why newbie investors should not sign up with Extra sum.

Types of Accounts.

Extrasum offers clients five types of accounts to choose from. These accounts are Nano, Micro, Standard, Raw Spread, and Managed. Minimum required deposit is $25, $100, $500, $1000, and $25000. This means that we are dealing with a broker who is targeting all types of investors. Best thing is to stay clear from this broker.

Fake Withdrawal Claims.

What they have posted on their homepage is pure lies. Secure deposits and fast withdrawals are not true. Only thing that these scammers got right was depositing. When it comes to depositing, process is fast. Withdrawing money is the biggest problem as no member has been able to withdraw money using this broker.

Is Extrasum a Scam?

Extrasum is indeed A SCAM that must be taken down by relevant authorities. Make sure not to sign up with this broker. Mark all their emails as Spam and never click on any links sent by their email marketing team. If you follow these steps, you will remain safe and have a chance of making money with real brokers.

Extrasum Final Verdict.

Evidence produced leaves us with no other option but to blacklist Extrasum as a Forex scam. All investors now know that this is an offshore broker. They will never allow members to withdraw their money.

At all times, signup with Trusted and Tested Forex brokers who are Vetted by the trading community. This is a sure way of remaining safe when trading Forex. Remember to always use Recommended and Verified Forex Brokers who are Reputable and Recognized. Stay safe while trading Forex.