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2dots Review - is it scam or safe?

2dots Review - Is 2dots.com scam or good bitcoin broker?

RATING: 1 / 5 REVIEWS 2dots
2dots is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts & Conditions

Account type Minimum deposit
Maximum leverage Spread
Standard Unspecified 1:10 Around 1.6%


2dots is a cryptocurrency CFD broker. The company is not actually an exchange, as it does not facilitate real coins. On the other hand they also don’t offer the more traditional forex trading pairs, or indices, or commodities.. This is an interesting strategy and while we are not certain about its viability, we’ll cover their offering.


2dots Advantages


Charting by TradingView
The trading platform provided by 2dots is web-based. While trading veterans will prefer having a standalone application, this one is rather enjoyable. Everything is positioned intuitively and most importantly the charts are provided by TradingView. This package offers technical traders a lot of analytical tools and is probably only second to the MetaTrader one. Here is a preview of the platform (click to zoom):




Don’t let the default line chart confuse you, as there are hundreds of customizable options and indicators with this software. As we state above, one of the superior platforms is MT4, which supports even more technical indicators, through the MQL shop.


>>The best MT4 brokers<<


1:10 in leverage

This ratio may seem low to experienced forex traders, but it’s actually quite decent for cryptocurrency trading. The space is very volatile and this leverage is close to what other brokers are offering.


>>Other Bitcoin brokers<<


A lot of payment methods
There are multiple ways of depositing funds at 2dots. They include Bank Transfer, Credit/Debit card, Neteller, Giropay, Sofort Banking and Paysafe Cards. The support for e-wallets is nice, although one would expect Bitcoin to also be included.


2dots Disadvantages


Not regulated

2dots offers slightly misleading information about the legal entity behind it. It is originally incorporated in Bulgaria, while apparently being located in Estonia. This may be a typo, or the company changing owners. Nonetheless, they are not under the supervision of the financial supervisory authorities in either country. Trading with such brokers can pose a serious risk for your investment.


>>Regulated brokers, offering crypto<<


Only crytocurrencies traded
This isn’t that much of a flaw, but a choice made by the company. The only trading instruments at 2dots are:


BTC/USD, BTC/EUR, BTC/AUD,
ETH/USD, ETH/EUR
DASH/USD,
LTC/USD, LTC/EUR,
XRP/USD, XRP/USD


Account currency is Bitcoin
Probably one of the strangest thing we saw when creating an account at 2dots, was the fact the account is kept in BTC. This is weird because all the trading instruments have fiat currencies as the quote (the second part of the pair, in which your profits and losses are measured). This means a conversion will have to be made whenever you close a trade.


High costs of trading

The Bitcoin spread we saw when trading at 2dots, was around 1.6% of the current market value. In absolute terms, it was $135, while other major brokers, like IG offer something around $30-40.



Unexpected fees
There are a lot of hidden fees at2dots. They include a withdrawal fee, a profit clearance fee, account maintenance fee, verification fee and inactivity fee. Here are the detail (click to zoom):

 



Conclusion


2dots is an unregulated broker, which only offers cryptocurrency CFDs. This is a bit unusual, given how most of the players in the field, also offer forex, indices and commodities. The Bitcoin spreads are not that competitive. All of these factors significantly outweigh the relatively nice trading platform. The multitude of fees are also likely to chip away at any potential profits one makes.


In case you are not familiar with the financial services industry, we must warn you of the risks involved with unregulated brokers. To put it plainly – such a company may be a scam. This is why most countries have agencies, which regulate the sector. In the United Kingdom this is the Financial Conduct Authority (FCA).


 >>FCA brokers<<


All the companies registered with them have to follow a lot of rules, which protect clients. First of all, client investments are held in special segregated accounts. This means the broker can’t touch your funds. Additionally they have to be a part of the Financial Services Compensation Scheme (FSCS). Think of it like an insurance company – the brokers must periodically pay a portion of their profit (similar to a premium) to a collective fund. This later serves as a guarantee, in case a brokerage goes bankrupt. All clients are protected up to £50,000.


To recap 2dots:

Pros Cons
Charting by TradingView Not regulated
1:10 in leverage Only crytocurrencies traded
A lot of payment methods Account currency is Bitcoin
  High costs of trading
  Unexpected fees

 

Latest news about 2dots
No news about 2dots. Check back later.
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Traders` reviews for 2dots

Spread

Pros

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Slippage

Pros

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Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

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Summary

Pros

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2dots Truffatori

Ho messo 200 euro tramite mio figlio piu pratico con il telefono ..ma i soldi che ho richiesto indietro sono li piu di un mese e nessuno risponde piu dei grandissimi ladri

Translated by Google:

Scammers
I put 200 euros through my son more practical with the phone ..but the money I requested back there is more than a month and no one answers more than the great thieves

Palmas Enrico 05/23/2019

Are they operating why had the authourity put a stop to scam they are still operating as 2Dots.com still on internet in uk

MR ASHFAK AHMED 05/14/2019

2 Dots/Agm-Invest

Due to previous "negative experiences" It is possible i may have been mistaken about the company mentioned 2Dots/Agm-Invest
And we are currently trying to work things out.

There are many forex companies that profess to be genuine.

But i have decided to keep working with 2Dots.com
3 positive points i will list here are..

Generally well timed callback system.
Good communication from dedicated staff
very helpful platform traning.

One other thing i will mention is that i have learned a lot about forex trading so far via 2Dots/Agm-invest, and i hope that things work out for the better in the near future.

Rating at present 3.5 stars
13/03/2019


Steven Atkinson 03/13/2019

I believe this company is in connection with agm-invest.com

Agm-invest.com is where i started trading and now the company has strangely moved my account details to 2dots.com, ... all they seem to want me to do is to invest more and more capital,
but strangely the withdraw feature never works because my capital is aways too low despite its growth.
i would keep far away from this 2dots/agm-invest company
i do believe i have been scammed.

this is a warning to all.

Steven Atkinson 03/06/2019

Scammed possibly

Need to know if they are operating or have just closed and run away
I believe I may have been scammed .

Gordon 09/05/2018
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