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S2Trade broker review

I’m not one to judge a book by the cover, but come on, S2Trade! However, I’m going to keep this S2Trade review as professional as I can. As a disclaimer, I will admit to being a bit pedantic, and even little things get me wary of a company, especially one that handles money. So, if you find me to be too nit-picky, that’s fine, just remember that the devil is in the details – the tiny details.

s2trade logo
  Min. Deposit:
 $200

  Trading Platform: Custom

   US Clients: Not Available

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Who is S2Trade broker?

If you’re going to give somebody money, you had better know who they are and where you can find them. S2Trade forex broker is the tradename for Goldtech Media Services OÜ. I had to copy-paste that last bit because the company is based in Estonia, but their services extend beyond the country. From the company’s website, they claim to have spread their services all the way across Europe and into Asia. I even tried to open an account through a VPN routed through the US, and I could still open an account with them. So, you can open an account with them from anywhere in the world.

S2Trade broker review

You see, that is the thing about an unregulated broker, they have absolutely no restrictions. That is right, S2Trade have no license at all from any financial regulator anywhere in the world. Working with a broker without a license is not a good idea at all, after all, who would you complain to if you had a problem. Therefore, when you deposit your money with S2Trade brokers, you can never be certain it will be safe. A lack of licensing and regulation should be your first warning of the S2Trade scam being ran over there.

A look at S2Trade services

As I said at the start, I don’t judge by the cover, so let’s take a look under the hood.

A look at S2Trade services

S2Trade provide many currency pairs for forex trading, and on top of that also offer CFDs trading for commodities, metals and indices. Other brokers also include CFDs for bonds, ETFs and other instruments, but the S2Trade offerings are not completely bad. So far so good, until you look at their other trading conditions. The minimum account opening balance with the broker is $500, and that is just for the standard account. It’s not completely unreasonable, although other brokers allow even a $100 minimum balance. Also considering that they are not regulated, why would they require such a high amount of capital?

Besides, they have several account types, with the basic ones being incurring reasonable spreads on the major forex pairs. With the exotic pairs, though, the spreads become very wide, enough to make the trading quite costly. Things are no better with the ECN accounts, because these accounts charge a commission, but the spreads remain relatively wide. A lot of other brokers definitely offer better trading conditions that these of S2Trade.

spreads review at s2trade

However, the S2Trade bonus is not bad, with clients receiving a 25% bonus of the amount they deposit. Unlike other brokers, you do get to withdraw your bonus, as long as you achieve the minimum required trading volume. Achieving the minimum requirement can be quite a task, but it’s better that the bonus offered by other brokers that is completely non-withdrawable.

Is S2Trade legit?

Being completely unregulated by any financial regulatory body, I had a problem with S2Trade immediately. Nevertheless, I’ve seen some unregulated forex and binary options brokers who I would still use, although very cautiously. In the case of S2Trade opinions, though, I am not pleased by what they have to offer or their services. That they are not regulated only adds to my dislike for the broker, and I would ask any trader to stay away, for their own sake. But if you still feel lucky about using S2Trade, please take some time and leave some S2Trade reviews below, I bet it won’t be positive.

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S2Trade broker review Overall rating: 1 out of 5 based on 29 reviews.

A total scam

★☆☆☆☆
1 5 1
Stay well away from them. They push you to invest more and more, try to gain your trust and once you start make a good profit, they push you into a risky trades without the cut loss stop and when the market go against you, they push you to invest more to save your account and telling you if you wait patiently the market always reverses. Ones you have no more money to invest and you balance goes low, they close your account without even telling you and your account manager never replies to your emails and completely cut you off. When you question it with the customer service they tell you that you should be aware that the trading is risky. Few weeks later they contact you and offer you opening a recovery account and promise you that they would help you to recover your money if you invest more. Cheeky twats. Do they think that I ever will trust them again?

scammers

★☆☆☆☆
1 5 1
I answered an advertiser to find out more about cryptocurriencies and received a call from a person who fraudulently claimed i could learn with them...i was scammed after depositing $250 USD. Dont listen to the sweet talk all they want is your money and they aint going to give it back so stop now earning more for them with currency pairs or investments...try withdrawing your money thays why the company is in Estonia and is not regulated grrr be careful google reviews first ad i should have done they rate 1 out of 5 for good reason ...

beware

★☆☆☆☆
1 5 1
S2 Trad is full of cheaters. They talk nicely waste your time money and energy. Do not belive them. I lost heavily. As some of said the moment you ask for refund the credit will vanish say no balance as claimed. They can loose your money with in no time putting blame on you or their own staff. You will never see your money in your life from them. How can some one stop these kind of fraud company reaching others
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