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S2Trade Review - Is it scam or safe?

S2Trade Review - is s2trade.com scam or good forex broker?

RATING: 1 / 30 REVIEWS
S2Trade is an offshore broker. Your money is not safe.

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Trading Accounts

 

Account type Minimum deposit Maximum leverage Яpread (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

 

Company Country Regulation
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.

 

Trading Conditions

 

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.

 

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.

 

Leverage

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.


Trading Platforms

 

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. 

 

Conclusion

 

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:

 

Pros Cons
MetaTrader4 Platform Strange assortment of account types
  No demo accounts available

 

No news about S2Trade. Check back later.
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Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Traders` reviews for S2Trade

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...!

Anthony 06/05/2018

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 500€ 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 1.000€ 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 get also the call like the most of you from Mr.Hunt and his "friends".
So i read your emails below and I even dont try to get my 500€ back-it will be the waste of time -I can manage the loss but that was also very good lesson for me:dont put your money online into this kind of mess.I blocked all numbers which are starting with +44....
If you wanna save your money-dont try this at all.
Take care guys.

Natan 05/30/2018

S2trade

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.
Ii sm baffled as this requirement was never told from the very veginning i started trading.
They are now insisting that i start trading before they can teturn my orincipkeof 20k.
Sonce this is my first time, can anyone help me or advice ne on how to get back my money.
Thank you
I hope those people out there dont do the same mistake as j fo. As curiosity’s kills the cat.

Mn Azah 05/14/2018

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

Lindi 04/25/2018

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.

Zulmira de Araujo 04/20/2018

NAY

Hi, I started the trading with them since November 2017, and felt good with them, they were nice and really tried to help me. However I lost everything last night (11th April 2018). 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 “stable” investment.
In short, i lost everything I’ve made. Also, she is my third account manager, the previous account manager was David Koyich and Jason Hunt. I just want to share my experiences, how do you think? Scam or True.

Loser 04/12/2018

Asking for Trouble

Hi

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.

Jason Hunt 04/08/2018

Nur Verluste durch Inkompetenz

Ich bekam vor einiger Zeit einen Anruf von s2Trade in deutsch.Der "Broker" erklärte mir,dass er mit mir viel Geld verdienen will für uns Beide.Durch seine Falsche Beratung verlor ich über 10 Tausend USD.Der Berater heisst Gabriel Ritz.Ich wollte jetzt mein Konto schliessen und die noch verbliebenen 1438 USD zurück 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 für die Finanzen Frau Natalie Weber erreiche ich nicht mehr.Was kann ich tun um mein Geld zurück zu erhalten? Ich bitte um Rat und Hilfe!!!

Reinhard Hopp
Hagener-Strasse 15A
57223 Kreuztal


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 !!!
Reinhard Hopp
Hagener Strasse 15A
57223 Kreuztal

Reinhard Hopp 03/14/2018

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.

richard gough 03/07/2018

Unethical conduct

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.
Judge for yourself.

Albie de Villiers 02/20/2018

Feel cheated

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.

Innocent 02/04/2018

Unfair trading

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.

Vanessa Smith 01/30/2018

account

Non è possibile gestire il proprio denaro nel mio caso 10.300 Euro quando apro S2trade mi viene detto che non posso accedere perché in Italia è 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.

Daniele Lepori 01/27/2018

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.
Don't waste your money and time.

Roger 01/23/2018

Now also trading as Glenmore Investments

GoldTech Media Services OÜ, 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 OÜ has only been in existence since the start of 2017 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!!

Keith Partridge 01/12/2018

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 2017. 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!

Krishnan 01/12/2018

Withdrawal Issue

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.

Vuyani Makatini 01/11/2018

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.

Denis - SA 01/09/2018

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.

Stefania 01/01/2018

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

Tina 12/27/2017

Can not withdraw or close account

I am trying to close my account with S2Trade with no luck.
Is there an agency I can report them to in order to get my money?

Regards

Jan Nieuwoudt 12/18/2017

Bad start

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.

Raymond Murray 12/12/2017

Please help

Anyone able to tell me how to withdraw my initial investment $500 from S2Trade???

Petro 12/12/2017

Scam

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.

Nilesh 12/11/2017

scam

s2trade the biggest scam people there is (account managers Mare Chardin)
we give you wrong advice and information and tell you the wrong investments
that's what they did with me. they lost all my money. these people supposed to be professionals. they supposed to look after you. they just as you to put more money in lose the lot for you. do not trust them go somewhere else.

Rashpal 12/06/2017

Scam

They took $250 from my account and never report back to me. Nice scam. I am not going to leave it there.

N.J Gouws 12/05/2017

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

Godfrey Poonyane 11/08/2017

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.

Tobias Jove 10/31/2017

S2trade scam

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.

DHANRAJ KURUVILLA 10/24/2017

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.
john murphy

john murphy 09/29/2017
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