S2Trade broker review

S2Trade broker review

Minimum deposit

200 USD

Bonus

25%

Maximum leverage

N/A

Spreads

from 0.1 pips

Licences

N/A

US Clients

N/A

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.

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.

Comments (9 comment(s))

STEVEN
November 25, 2017
s2trade,,,,, they speak big and empty your account as soon as you request a cash withdrawl.. I had $1000, now i have $5. they didnt want me to withdraw so now i am broke... and they want me to refund this account, damm bloody cheek they have. WATCH OUT FOR MR JASON HUNT, CHEERS..
    S2Trade
    February 28, 2018
    Dear STEVEN, S2Trade is ready to assist you with everything possible, taking care of your case with high priority, however, in order for us to be able to do so, please contact us at support@s2trade.com or call us +442036775478. We need to review your account in detail so that the company can have a better view of the situation and try to find the best solution possible. Thank you and looking forward to your answer.
Mick Murphy
December 28, 2017
DANGER KEEP AWAY S2TRADE OPERATES A FRAUD SYSTEM, THEY DEFRAUD YOU OUT OF YOUR MONEY BY LIES, PLANE & SIMPLE
    Ncebakazi Mercy Ncebcie Ntoni
    April 23, 2018
    what broker are you suggesting then?
      Top Forex Brokers
      April 23, 2018
      We recommend XM at this review as it is quite a stable broker. You seem to be from South Africa so opting out for Markets.com could be a good choice too as they are licensed by the FSB http://topforexbrokers.net/markets-com-review/
Jan Ottestad
January 22, 2018
S2Trade is a scam! They are completely ruthless as well.
    S2Trade
    February 28, 2018
    Dear Jan, We are concerned that You were not satisfied with our services and we would like to review your account in detail so that the company could have a better view of the situation, however, in order do so we need to identify you in our system. Please contact us at support@s2trade.com or call us +442036775478. Thank you and looking forward to your answer.
Ugo Raymond Anasiudu
February 19, 2018
S2trade is very deadly. They sweet talk you and as soon as your money is in their hands, it's gone. Beware
Paul Ryan
March 8, 2018
I honestly don't understand these reviews, they look fake if you ask me. I invested $4,000 and reached a profit of $2,900. I asked to withdraw everything for a family emergency and it went through in less than 4 days. Will definetly join them again once things become smoother for me.