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S2Trade Review – Is it scam or safe?
RECOMMENDED FOREX BROKERS
|Account type||Minimum deposit||Maximum leverage||РЇpread (non-commission account)||Spread (Commission account)|
|Standard||$500||1:200||2.5 pips||From 0.2 + $8 per lot|
|Premium||$5,000||1:200||2.1 pips||From 0.1 pips + $3.5 per lot|
|VIP||$50,000||1:200||1.5 pips||From 0.1 pips + $2.0 per lot|
S2Trade is a forex broker, offering multiple account types, as described above. The fact two variants of each account type are present is more interesting. While one of them is a typical forex trading account, the other one is based on an ECN pricing model, which features commissions. Strangely enough conditions are vastly different for the two.
The Company. Security of Funds
|GOLDTECH MEDIA SERVICES OÜ||Estonia||N/A|
S2trade is owned by GOLDTECH MEDIA SERVICES OÜ, an Estonian company. That being said, they are not regulated by any appropriate agency. This is quire troublesome for us, as we generally recommend avoiding unregulated brokers.
The reason for that is quite simple – when trading with such a company, there is no guarantee you will ever get to withdraw money from your account (regardless of your trading performance). There are still a lot of scammers in the online (and offline) space, but most countries have created dedicated agencies to ensure a fair environment,
For instance the UK has the Financial Services Authority (FCA). It is one of the most reputable watchdogs, which enforces stringent rules on the brokers, it oversees. When it comes to the security of your funds two major rulings stand-out: the segregation of client accounts and the mandatory participation in the compensation scheme.
Segregated client accounts implies the company can not freely access its traders’ capital and spend it on company needs. The Financial Services Compensation Scheme (FSCS), on the other hand, is a mechanism, which acts similarly to an insurance company. Brokers transfer small portions of their profits to a collective pool, which then serves as a guarantee against any one of them becoming insolvent. If you trade with an FCA-regulated broker, who happens to go bankrupt, your funds will be guaranteed up to £50,000.
Minimum Initial Deposit
S2Trade demands a minimum of $500, as an initial deposit. While this may not seem like a lot to some of you, this is actually a very high level given the current offers by other brokers. Most companies nowadays, like Windsor Brokers, require something in the $100 range.
That being said, the minimum deposit shouldn’t be a major consideration for you, presuming you can afford it. By itself the level does not reveal anything about the broker’s credibility.
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Average spreads & Commissions
Spreads at S2Trade are an interesting topic. While there are multiple account types, based on the size of one’s initial deposit, they are also further divided into two groups. The stunning thing is that the ECN ones offer much better conditions than the regular ones. So … who would ever choose to trade with the non-commission accounts? Unless there is a typo on the company’s website, or the commissions are not round-turn, this makes no sense.
An easy way to convert the standard MT4 commissions in to effective spread is this:
For every $1 in commission per lot, you add 0.1 pips to the spread.
This rule does comes with a few conditions, like the fact it only applies for pairs where the USD is the quote (second) currency.
The picture is fairly mixed, when it comes to the spreads provided by S2Trade. The conditions for the better account types even seem surprisingly good. That being said, you can always compare the conditions, provided by some of the world’s leading brokers here.
The leverage cap at S2Trade is 1:200. While this is a perfectly suitable ratio, you may think it is rather low, given the fact many brokers offer much greater levels. XM even uses their leverage ratio as a marketing tool – the company offers 1:888.
Keep in mind, all margin trading, no matter the exact “gearing” can be dangerous. Be sure to fully understand the risks involved, before proceeding to trade.
S2Trade offer MetaTrader4 (MT4) as their platform of choice. They are certainly not unique in that regard, as this is the wold’s most popular currency trading platform. While it provides extraordinary charting and can handle a lot of instruments, MT4 also has some downsides. The most prevalent one, which experienced day traders will spot immediately is the lack of multiple monitor support.
On the other hand MT4 offers a lot of custom tools, like newly developed technical indicators and automated trading systems. We have reviewed some of them here.
That being said, here is a preview of the platform provided by S2Trade:
Methods of Payment
S2Trade accepts deposits via several methods, which include Bank Transfer, Credit/Debit Card, Skrill and Neteller. While the e-wallets are rather few, at least they are the most popular ones.
S2Trade is an unregulated forex broker. The company offers multiple account types, with interesting variations of the trading conditions. The fact, the same minimum deposit can get two totally different account types is bizarre. That being said, this is still an unregulated company, so we must take everything with a grain of salt. Here are this broker’s pros and cons:
|MetaTrader4 Platform||Strange assortment of account types|
|No demo accounts available|
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
Traders` reviews for S2Trade
S2trade s cam
I invested ВЈ7000 with S2trade last September and with all the sweet talks that my money is safe and I can withdraw any amount anytime hence last December I put withdrawal notice for ВЈ5000 and I even got confirmation that it has been approved and waited until end of. March got nothing back I then approached my credit card company to see if they can help but nothing.. sent several email to S2trade and everytime same answer we canвЂ™t give you any reference number for this as the payment was initiated by your bank so please get in touch with them and credit card says S2trade is refusing to refund the deposit. I donвЂ™t know what to do next any help will be greatly appreciated. Thanks. I
Their brand website and as well scam Toroption was shutted down recently, but this website S2Trade continue scam innocent people. Would suggest all victims of Binary Option companies will make a report to EFRI and the whistblower. This can result in a class action in the end against those scammers.They have already Campaigns against them and a lot of the scambrokers are in custody. Not suprising most were connected to some East European countries for the money laundry with Tel Aviv with the base of the leadership. Same pattern turn up as suspected.
s2 trade financial crooks
These people are scammers and crooks have no plan whatsoever to return profits to investors
S2Trade.com – Nightmare!
Nightmare times! Following expert advice from Warren, Michael, Dell my partner has lost GBP 60k since May and is severely overdrawn. He risks losing his flat as he can’t pay his rent. And to make matters worse they still call with great new investments.
Stay far awy from S2Trade
This gang will never let you withdraw anything. How much you even try! Instaed make a report to ActionFraud in U.K. They are with Europol, and S2Trade is linked with other websites , with same reason. Too scam as much they can!
Don’t give S2 trade one pence they are scammers
I’m a single mum of two kids, one being disabled, I withdrew my money ten working days ago and STILL haven’t got my money, they are fobbing me off everyday and lieing constantly, DON’T GIVE THEM A PENNY THEY ARE SCAMMERS
Stay way from S2trade
Same owner as Toroption. That means 100% Spam!! Stay,stay fГҐr way from them!
S2Trade took all my money
Its a scam. I made a criminal report of s2Trade. Daniel Stone, Jeremy ONeill. Lost 6000 euros. First they made a little profit and attempted me to invest more i said no. Then i tried to withdraw all my money they didn’t let me. Then i finally agreed to trade second time 500 dollars soon i got a call all 6500 dollars were gone.
S2 trade is a scaming company that horrasses potential customers to invest through them .
their sales team never use their true names.
theS2 trade team is a company that makes its money from fraudulent advertising and by using hyper inflated phone calls from numbers that you have no knowledge of.
they will call you and hang up and when you call back you will be charged up to a possible ВЈ10 per minute for the call if not more
S2Trade – profit withdrawal scam
Since few months im trying to withdraw the profit i did on the s2trade paltform, and every time it is denied. i wud not recommend this platform to anyone. they have given my initial deposits back but profit even if it is few hunderd euros they are not letting flow. so basically one can not trade here.
S2Trade = BAD news!
I got scammed by them too, when not yet fully registered with their website, I had my misgivings with the way they were behaving so I asked them for my money back and haven’t heard from them since.
However, by not being properly registered with them before they claimed to have invested my money, this means they are guilty of fraud – in my book at least. Unfortunately, due to them being unlicensed, it looks like my money (and that of so many others!) won’t be forthcoming.
They also call from 0203 6958598 and 0203 6953619. The 0203 prefix is in the UK as they obviously have some sort of international calling contract making it cheaper for them. If you have a call blocker, then be well advised to block these numbers. Seeing as the exchange rate for the UK Pound to their currency (Estonia), they think there’s more money to be made from us with their scams.
At the very least (IMHO), their international cheap calling contract should be terminated and their company blacklisted from any further such contracts to the UK. Next, Interpol ought to become involved, as the millions in currency involved mean they aren’t just bankrolling themselves, but for all we know, they could be financing all manner of nefarious org’s (think ISIS etc).
Their video of a fancy software program (Tesler) which allegedly earns you money overnight without you having to do anything except put down US$250, is a bait and switch operation – their callers themselves try to get you not to use the program, but instead attempt to stampede/ railroad you into making greater investments with them as personal brokers. This itself is a sure sign something is wrong with them.
I do hope someone pays them a rather ‘consequential’ visit in person.
S2Trade – Dont touch this
Hello,I can tell you that I’m also on your side.I gave a try to this scam and see now how it works.I have put only 500в‚¬ and was pushed to invest more but I said no-for me it was already to much if someone is asking urgently for money:the “senior” manager was also trying to convince me to put more that 1.000в‚¬ but my belly said:no.Also to change the password on the website was not possible,to many private questions and request for each kind of document.
I have been trying to withdraw back my money of USD20,000 on line from the system however its been unfruitful. Reason being that i gave not met the requirement of trading 200lots for A Shariah conpliant account.
i cant get back my deposit
I paid 250us 4 weeks ago I never had no one coming back to me a rude guy called me forcing me to disclose my assets when I refuse he was so angry and put phone down while I was talking.I tried to call back phone will never go true
s2trade – obviously a big scam
I also invested $250 yesterday with s2Trade and within an hour they phoned me and told me to invest more money in order to get bigger profits. I then told them that I wasn’t interested and wanted to see how the initial investment would perform but they carried on insisting that I invest more. Obviously I didn’t so now my $250 has been reduced to $4.5. The manager’s name was Eva Nelson. obviously a big scam.
Hi, I started the trading with them since November 2020, and felt good with them, they were nice and really tried to help me. However I lost everything last night (11th April 2020). My account manager, Nina Angelova told me we lost everything as one of my trading account went a huge negative number, and al the trading account were forced to close. She asked me to invest more to recover the account and would like to offer me if I invested the specific amount. Sounds really attractive. But I ended this up, looking for another вЂњstableвЂќ investment.
Asking for Trouble
Just search for regulated traders and trade with them. As s2trade operates from international shores i.e Estonia and as they take signatures from you on some documents, no regulator can do anything as they dont fall in any of their juristriction. Hence your money is left to their mercy. They will be in regular touch when you say you want to trade but wont respond when you want to take back your deposits.
Also their MT4 Trading software dont connect to any real exchanges but their MT4 app stimulates as if it is a real live one!!
The regulated firms MT4 Trading appliction show the name of the regulated firm name once you log in. In the mail box tab you can contact the Admin of the regulated firm but here tge email option to reply is missing.
Nur Verluste durch Inkompetenz
Ich bekam vor einiger Zeit einen Anruf von s2Trade in deutsch.Der “Broker” erklГ¤rte mir,dass er mit mir viel Geld verdienen will fГјr uns Beide.Durch seine Falsche Beratung verlor ich Гјber 10 Tausend USD.Der Berater heisst Gabriel Ritz.Ich wollte jetzt mein Konto schliessen und die noch verbliebenen 1438 USD zurГјck bekommen.Ich habe die erforderlichen Unterlagen mehrfach an S2Trade geschickt.Ich bekam Anrufe auf englisch,obwohl dort bekannt ist,dass ich kein Englisch spreche.Meinen Berater,oder die verantwortliche Frau fГјr die Finanzen Frau Natalie Weber erreiche ich nicht mehr.Was kann ich tun um mein Geld zurГјck zu erhalten? Ich bitte um Rat und Hilfe.
Translated by Google:
Some time ago I got a call from s2Trade in German. The “broker” told me that he wants to earn a lot of money for us both.By his wrong advice I lost over 10 thousand USD.Der advisor is Gabriel Ritz.Ich wanted I closed the account and returned the remaining $ 1438.I have sent the required documents to S2Trade several times. I received calls in English, although it is known that I do not speak English. My advisor or the responsible woman for the finances I can not reach Mrs Natalie Weber anymore. What can I do to get my money back? I ask for advice and help .
They threatened me
S2TRADE is a complete scam, if they were any good they would be doing the trades for themselves.l have earnt money trading for the last 15 months and these scammers are still phoning me to join their scam brokerage. After telling them to go away they threatened me and said I would be very sorry if l said anything about them.
I also fall for the video presentation! I also fall for Jason Hunt’s sweet talk, like others!When i wanted to withdraw i was assured that he will certainly make more than my credit card interest rate! When i did not want to invest more, he gave my account over to a junior. I ended up with nearly nothing. When i mailed his superiors about his unethical assurance, they just deny any wrongdoing and blame volatile markets. They want me to reinvest to cover my losses. What a joke.
I ‘accidently’ clicked and invested USD$250 with s2Trade. Following day I got a call from one Jason Hunt. He convinced so much about gold trading and Bitcoin. As usual like many, I too fell for his sweet talk. He invested all my investment amount to a few thousands of USD and within 45 days my account had USD627 only. Jason and another guy Phillips blamed it on market share prices sudden drop and tried to convince me to invest more to recover my losses. Please please people believe me. This is not fake news!. For thousands of $ investment. I recovered only $627! If you do not believe me, go ahead and invest.
I received an email asking if I was interested in trading with s2trade. anyway I told the accounts manager it was new to me,anyway I was told I had to deposit 2000 usd which was a lot for me, which I told him. the first few weeks I had a profit of 900 usd. Then suddenly I had a call saying the 900 usd profit had gone and I must put in another 2000 usd or more, I wasn’t happy but paid another 2000 usd. Two days later another accounts manager rang saying the market was bad if I didn’t pay 3000 usd at least I would lose everything. I foolishly believed him and paid 2000 usd, A few days later my manager rang and I asked numerous times to withdraw my money but he said I could only draw out 600 usd. Now today I have looked at the account and I have lost 5400. That’s if I get the 600 usd back. They just kept asking for more and more money. I told them at least ten times I wanted my money back, I didn’t want to trade any more. I just didn’t understand.
Non ГЁ possibile gestire il proprio denaro nel mio caso 10.300 Euro quando apro S2trade mi viene detto che non posso accedere perchГ© in Italia ГЁ un paese bloccato ! I soldi sul conto pero sono stati presi.
Translated by Google:
I can not manage my money in my case 10.300 euros when I open S2trade I am told that I can not access because in Italy it is a country blocked! The money on the account but they were taken.
Something is not clear with S2Trade
I joined to S2Trade last December. After I made the 250$ deposit, my gut feeling told me something was not clear with them. So I did the test. I immediately withdrew the money to see how difficult would be getting back my initial investment. Well, it took me one month to get the reimbursement after several emails and mentioning my lawyers. Of course, they got their fee. Then the managers continuously are calling me asking for explanations. Most of the time they are annoying, but sometimes they are even patronizing me.
Now also trading as Glenmore Investments
GoldTech Media Services OГњ, the actual Latvian company behind S2 Trade, is now using Glenmore Investments as a trading name also. We are the real Glenmore Investments Ltd in the UK and have nothing to do with this company. GoldTech Media Services OГњ has only been in existence since the start of 2020 no matter what they say on their website. We have reported the company to the FCA as an unlicensed broker. Seems they are on to Bitcoin investment now!!
I lost so much money
One JH of s2trade convinced me to invest USD$25K. He was so convincing and I did exactly that in November to mid-December 2020. Now, the account shows USD$627 only. Your hard-earned money just evaporates and we cannot do anything about these traders because the S2trade is not licensed. Mr JH claims he got promoted to a better position and handed the account to be managed by BP.Please guys, these are masters and I lost so much money. Please hang up when they call!
I traded with them since Monday, after seeing a declining market I withdrew $215 and left 10$, I received confirmation mail that my withdrawal is processed, the following day I received a mail that they cannot proceed because I have insufficient funds, I sent them 10s of mails all I get is deep silence from them. I’m still shocked after a Michael Rays guy urged me to make a deposit now he reads my mails without responding.
S2TRADE – SCAM
I’ve been caught by other so called “make you rich” scamsters. I watched the video from S2TRADE, and was impressed, so I filled in the application and sent it. Within seconds I got a call from Tomas Hoffman, and before long he was aking me to deposit money. This is when I realised it was another SCAM. DO NOT get caught by these people. I checked them out on Google, and my feelings were confirmed, BEWARE OF THEM.
s2Trade review – I deposited USD250
I made a mistake. I deposited USD250 after being pressured by Samuel Gree one of their account managers. They asked for several documents for compliance reasons such copies of credit card statement of ID card and credit card itself but I did not forward these documents to them. I called my bank and changed credit card number too. I am an idiot. I should have checked their reviews first but the guy knows his trade and I succumbed.
Can’t withdraw my money
This company will SCAM the wazoo out of you if you let them. They ask you for an initial deposit then their Senior manager will phone you to try and siphon off more funds from you. The withdrawal option on their suddenly STOPS FUNCTIONING. Beware do not invest a dime
Can not withdraw or close account
I am trying to close my account with S2Trade with no luck.
I got loads of contact, but not the good type. After making the initial deposit of $300, I was called two hours later asking for a strong commitment of $10,000 so that greater profits could be made. I could not understand why they wouldn’t just trade with the initial deposit so that I could test their performance. I’m not hopeful about ever seeing my $300 again.
Anyone able to tell me how to withdraw my initial investment $500 from S2Trade.
Do not use S2trade . I deposited $250, had one phone call from my account manager and then $250 lost. Wrote several e-mails for an explanation ,received no reply no phone calls.
s2trade the biggest scam people there is (account managers Mare Chardin)
They took $250 from my account and never report back to me. Nice scam. I am not going to leave it there.
withdraw my membership from s2trade.com
I joined s2trade last week wednesday but up to now they have not contacted me through their account manager as promised.When I joined I told them I am not familiar with trading.I expected them that by now they would have taken first step with me but not yet.Yesterday they promised me that they would but as of now I am still waiting for their call.Now I feel that I am tired I want to withdraw all my money
Inquiry: Regarding refund.
I had now filled up the the Withdrawal Request Form to refund my deposit because it appears that your trading seems fraudulent. Why? Reason:_There is fraud when, through insidious words or machinations of one of the contracting parties, the other is induced to enter into a contract which without them, he would not have agreed to.
I saw their advertisement somewhere, which didn’t even mention linking with a credit card or so. The fellow was claiming about some software by which we can trade. Just give the email and phone. Within five minutes I got a call from London and tried his best to give the card details, and deposit $250. I told him to get lost. I told him I will give credit card details after an initial investigation, for which he panicked. He told me to hold the line, so that I can talk to their financial manager. Finally I had to cut the line.
IT IS 100% SPAM; NO DOUBT.
facebook con video
I was impressed by the video presentation on facebook which is a tool for any gullible person to think they are going to be a millionaire but in reality this is a target for conning you into an investment you do not understand and then inundated with baffling jargon do not fall for this it is a con.
S2Trade Review: is s2 Trade a Scam or Legit Broker?
S2Trade is a Forex broker owned and operated by GoldTech Media Services OÜ, S2 Trade have their address at Tornimae 5, Tallin 10145, Estonia. Their email address is [email protected]
S2Trade Trading Platform
Trading platforms are the interface where the trading on assets such as commodities, currencies, stocks or indices are done. A good trading platform should have charting tools and indicators, it should also be easy to use and very fast in executing trades. S2 Trade broker offers the MT4 platform and also a webtrader, it has a huge range of assets to trade on. The maximum leverage is 1:200
Withdrawal and Deposit Method
S2Trade withdrawal and deposit methods could be carried out by the following means: Visa, Bank Wire transfer, MasterCard, Neteller, Skrill. S2Trade minimum deposit is $500.
License and Regulation
S2Trade is NOT a licensed broker. This means there are no regulatory bodies that monitors their activities to ensure they stick to best practices. Complaints about these unlicensed brokers are withdrawal issues(not being able to withdraw your money) and since they are unlicensed and unregulated, no regulatory bodies can fight for you, so you are left helpless. This is a source of major concern.
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.
Trading Platform: Custom
US Clients: Not Available
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.
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.
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.
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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