S2trade is a European-based company that was established back in 2017 in Tallin, Estonia. This is a well-known off-shore area, which implies that there is no licensing or regulation available for this company. This then means that you can never be sure what you’re getting yourself into with a company like this and that you are doing it at your own risk. With this type of company, there is no regulatory body that would be able to assist you and fight for your rights if they are being breached or if you are not being heard.
This S2trade review is created with honesty and reliability in mind. We aim to present you the good and the bad sides of this broker, so you can make an informed and smart trading decision for yourself and your future.
Quality of Service
The quality of service of any broker company is most accurately represented through the trading platform. At S2trade, you can trade through the MT4 platform which is quite advanced and offers a lot of options for clients. In addition, you can use it on both mobile and desktop devices, whichever you prefer.
Here you can trade around 200 assets including CFDs, commodities, currency pairs and indices. The leverage is quite high at 1:200, especially compared to the industry standard which is 1:30 in Europe. In addition, there is also the automated trading option, which is always appealing and takes away a lot of the pressure from the independent traders.
Speed of Response
There are many communication channels you can use to reach out to the S2trade customer support team. One of the most appealing ones is definitely the live chat option, where you can get connected with the available agent within a few seconds. That is only, of course, if you try reaching them during working hours. That’s right – their team is not even available 24/7.
Many clients have complained that the speed of response of the agents actually seems to be depending on the question you are asking. Namely, if you are calling them out on a fraudulent activity, you are likely to not get any response whatsoever.
There are many complaints when it comes to this area of the website, as well. Namely, despite providing a variety of payment options, they all seem to take quite a long time to be processed. That is quite standard for the bank wire transfer, for example. However, what about the e-wallets? They should be able to process within a couple of minutes, which is definitely not the case at S2trade, according to the clients.
The fees and commissions attached to your transactions at S2trade are pretty standard. You can find all the info about them on the website, including the amounts for both deposits and withdrawals. For example, the commissions for $100K go between $2 and $8, depending on the payment method. Also, the minimum deposit is $500 and it can go up to $50.000 for the VIP account. This is quite a lot, but then again, understandable considering the high leverage that this company provides for your trading.
S2trade has gotten away with a lot of shady stuff over the past three years, which would only be possible without a proper licence. This company is established in Estonia, which is a popular off-shore area for brokerages. The thing about these types of companies is that there is no regulatory body that could assist you or protect your rights while trading.
Variety of Payment Options
S2trade gives you quite a lot of payment options to choose from for your deposits and withdrawals. They include both standard ones such as credit and debit cards, and also the more advanced and modern ones among the e-wallets. Whichever you choose you will have to wait quite a while for them to be processed, which is a real shame considering that most of these banking options are quite advanced.
Overall, this company could use a refurnishing of their website, as well as a proper license which would attract many more clients. So far, we are not impressed by what we’ve seen.