1000 Extra Review
Reason to avoid: Offshore license
Listed Date: August 22, 2018
Top 3 Regulated Forex Brokers
- Company name: Mil Xtra LTD
- Registration/license: Saint Vincent and the Grenadines
- Registration/license requirement: USD 2,000
1000 Extra is a Forex and CFD broker, owned and operated by Mil Xtra LTD., a company, registered in Saint Vincent and the Grenadines – an offshore jurisdiction, which offers a variety of benefits – no income tax, fast and low-cost license for only USD 2,000. That is why brokers choose this kind of license. Comparing the license from UK’s Financial Conduct Authority, it requires EUR 125,000 of capital (aside from client deposits) for the STP license. The regulator also provides the segregation of funds and negative balance protection. Here you can check the list of the FCA-regulated brokers.