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Ester Review - Is it scam or safe?

Ester Holdings Review - is esterholdings.com scam or good forex broker?

RATING: 1.2 / 0 REVIEWS Ester
Ester is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Trading Account  Minimum deposit Min. trade size Maximum leverage Spreads
Standard MT4 $100 0.01 1:1000 3.0 pips, fixed

 

Ester is one of those strange fore brokers whose websites contain no information about account types, nor about trading conditions. Instead, you are offered many different courses to learn the basics of financial markets and a bunch of bonuses.

 

By downloading Ester’s MT4 platform we found out that the broker offers leverage levels, reaching 1:1000, fixed spreads, and commission-free trading on the MetaTrader 4.  

 

There is also a MetaTrader 5 account with better spreads (0.9 pips on EUR/USD), but there is no information on trading conditions on the broker’s website and this platform is not available in demo mode.

 

We can’t find anything that seems attractive about Ester forex broker – high fixed spreads, dangerously high leverage levels and offshore registration. That is why we would recommend that you choose a better broker. if you prefer the security of trading with fixed spreads, take a look at easyMarkets’ offerings: first of all, it is licensed by a reputable authority – CySEC; second, its spread for the EUR/USD pair is fixed at 1 pips; and third, with this broker you are able to cancel unprofitable deals with deal Cancellation.

 

The Company. Security of Funds

 

Company

Country

Regulation

ESTER HOLDINGS INC.

BVI

FSC

 

Ester seems to stem from former USSR countries, as its website is available in Russian, Ukrainian and English. It claims to offer more than 200 trading instruments, including CFDs on futures and stocks, however we only found currency pairs and precious metals available on its demo MT4 platform.

 

The company behind the brand, ESTER HOLDINGS INC, is registered on the British Virgin Islands. Although the local Financial Services Commission offers regulated status, it simply registers brokers and allows companies to be entirely based overseas. It does not apply any client protection or other requirements to forex and binary options brokers, nor does it exercise effective supervision. This is usually the case with offshore jurisdictions and that is why we do not recommend investing with offshore brokerages. You’d better choose among brokers regulated in Cyprus, or Australia, for example.

 

Trading Platforms

 

As we have already made clear, Ester offers its clients both MetaQuuotes’ trading platforms - MetaTrader 4, and MetaTrader 5.

 

The MT4 provides the all necessary tools and features to analyze price dynamics of financial instruments (charting tools, technical analysis indicators), create and use automated trading programs (Expert Advisors), and trade forex and CFDs.

 

 

Ester’s Mt4. Click to enlarge.

 

The MT5, on the other hand, is also suitable for stocks trading. After the hedging option was added to it previous year, it gains popularity both among traders and brokerage companies.

 

Methods of Payment

 

Ester offers its clients the following payment modes: credit/debit card (Visa, MasterCard), bank wire transfer, and e-wallets WebMoney, Qiwi, MonetaRu, and Яндекс Деньги.

 

Conclusion

 

It looks like Ester is another offshore forex and broker that supports both the MT4 and MT5 platform, otherwise provides very limited information on trading conditions. Nonetheless, we find its demo MT4 offerings unattractive, with high fixed spreads. Here are, in a nutshell, the pros and cons of Ester:

 

Pros Cons
MT4 and MT5 available Registered offshore
Commission-free MT4 trading High fixed spreads
  No clear information on trading conditions & accounts
  oo high leverage levels offered

 

Latest news about Ester
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Traders` reviews for Ester

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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