Is S²trade a desired broker with a modern educational center and premium customer service or a scam Forex broker? Find out all the details from our honest s2trade.com review!
Overview of S²trade.com
Present on the market since 2016, S²trade is an online Forex broker owned and operated by GoldTech Media Services OÜ – located in Tallin, Estonia. At the first glance, the user-friendly website points out the various offers and impressive educational materials they provide, making it equally available for new or experienced investors.
Their list of products is quite comprehensive: forex, soft/hard commodities or the hottest indices, you can find them all! In addition, the learning materials come in handy, as well as the various tools and customer service they offer. The first impression they gave us was that they actually encourage and teach their investors how to build a professional portfolio in order to get the best out of each trading experience.
The website is available in 6 languages (English, Russian, German, Italian, Spanish and Arabic) and it addresses to none – US and none – Quebec customers only.
Account types and deposit options from S²trade.com
At S²trade, you can choose from 3 account types: Standard, Premium or VIP. Each account type comes with its benefits and it looks like they were designed for investors with different levels of experience. If you’re a beginner, you might want to go with the Standard account and trade commission-free. On the other hand, if you’re one of the big players, the features of the top packages are very tempting, with a minimum spread starting from 0.1 (commission accounts), a rebate program and the possibility to express withdrawals.
When it comes to the minimum deposit requirements, judging by the numbers, they are telling you to go big or go home! For the Standard account, the minimum deposit is 500 USD and it goes up to 50,000 USD for the VIP account.
Platform from S²trade
There is no surprise that S²trade went with the standard MT4 platform; every prime online broker should operate with it. The actual surprise came when we saw they went beyond that and offered the Mobile MT4, MT4 MultiTerminal (it allows you to manage up to 128 accounts at the same time) and WebTrader. Long story short: an online Forex broker that provides 4 platforms? Well, that’s what we call a major plus!
Customer support service from S²trade.com
In this industry, it’s a well-known fact that online brokers tend to invade the privacy of their customers: calls after calls, e-mails and offers that you didn’t ask for etc. Fortunately, it’s not the case of S²trade! They said it themselves; the dedication to investors comes from their belief in providing a level of personal customer service. The S2trade customer support team is represented by industry professionals who are available 24/5 to assist traders and their discrete
The safety of your capital with S²trade
As we stated, a reliable broker is one that takes care of your capital no matter what. On the other hand, both the broker and the investor need to take complete responsibility for their actions. In the “Legal” section on the S²trade website, you can find all the information about their policies, terms, conditions and a very clear risk disclaimer. We took the time to read what they had to say and you should too because it covers everything you need to know if you have doubts about investing your capital on their website.
The education center, the professional customer support team and the impressive amount of products they offer are some of the advantages we presented above. More than that – they offer full access to 75 analytic tools, real-time executable prices and an economic calendar to keep you updated about the latest market trends.
Their user-friendly website is tailored to the personal needs of all levels of investors. It’s safe to say that S²trade has everything a professional online broker needs and they also added something more to each and every feature.
By the way, let’s not forget about the 4 platforms: MT4, Mobile MT4, MT4 MultiTerminal and WebTrader!
Of course, we need to emphasize that S²trade has its disadvantages as well. A minimum deposit of $500 for a Standard account is a little bit pricey, considering the fact that a lot of other brokers require $100 or even $50. However, it doesn’t diminish its credibility in any way, because S²trade has enough distinctive features to somehow compensate for the high initial deposits demands.
Another disadvantage is the lack of demo accounts. A big minus because every investor could use one, no matter the level of experience. It’s one thing to test the ground first rather than to plunge directly into the battle, right?
S²trade.com – gem or scam?
S²trade is definitely a gem! There weren’t any hints or major mistakes to indicate that this online Forex broker is a scam. On the other way, what they offer to their traders stands out. We firmly recommend it!