Note: ESTAs official site - https://www.estatrade.com/ is currently on sale and not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is ESTA？
EstaTrade, a web-based brokerage, provides online trading services worldwide across various asset classes such as currencies, CFDs, precious metals, and cryptocurrencies. However, its lack of regulatory oversight and an inaccessible website raise doubts about its transparency and reliability of operations.
In the following article, we will analyse the characteristics of this company in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.
Pros & Cons
Pros:
EstaTrade provides a diverse range of trading services, covering various asset classes such as currencies, CFDs, precious metals, and cryptocurrencies.
EstaTrade provides a premium choice of trading platforms, including MetaTrader 4/5 and WebTrader, offering flexibility to traders.
Cons:
EstaTrade operates without regulatory oversight, casting doubts on the broker's investor protection and regulatory compliance.
The broker's website is unavailable, making it challenging for interested clients to access information about its services and offerings.
A withdrawal issue report on WikiFX indicates that there have been reported problems or difficulties faced by users of EstaTrade when attempting to withdraw funds from their trading accounts. This report raises concerns about the reliability and efficiency of the broker's withdrawal process.
Is ESTA Legit？
When considering the safety of a brokerage like ESTA or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:
User feedback: There is a report about a withdrawal issue on WikiFX which severely questions the broker's reliability. This serves as a serious warning for anyone considering their services and urges utmost caution.
Security measures: EstaTrade ensures negative balance protection for its clients, safeguarding them from potential losses exceeding their account balance. This risk management feature prevents traders from owing more than their initial investment, shielding them from extreme market volatility and unexpected price movements that could result in negative balances.
In the end, choosing whether or not to engage in trading with ESTA is an individual decision. We advise you carefully balance the risks and returns before committing to any actual trading activities.
Market Instruments
ESTA is a comprehensive Forex broker, offering an extensive array of market instruments tailored to meet diverse trading needs.
Traders can explore the currency market with a wide range of currency pairs, allowing them to capitalize on global economic trends and geopolitical events.
Additionally, ESTA provides access to Contracts for Difference (CFDs) across multiple asset classes, including stocks, indices, and commodities, enabling traders to diversify their portfolios and hedge against market volatility.
Moreover, investors can take advantage of the stability and long-term growth potential offered by precious metals like gold and silver.
Lastly, ESTA facilitates trading in cryptocurrencies, allowing traders to capitalize on the fast-paced and dynamic crypto market.
Account Types
With ESTA, traders can choose from two main types of accounts: Dealing Desk and ECN (Electronic Communication Network) accounts.
The Dealing Desk account operates with the broker acting as the market maker, offering buy and sell prices for various currency pairs and profiting from the spread.
On the other hand, the ECN account provides access to the interbank market, where orders are matched between buyers and sellers at prices set by financial institutions.
With a minimum deposit requirement of $100 for both account types, traders can select the account that best suits their trading preferences and goals.
Leverage
EstaTrade offers leverage of up to 1:500, providing traders with the opportunity to amplify their trading positions and potential profits. This high level of leverage allows traders to control larger positions with a relatively small amount of capital, although it also increases the risk of significant losses. Traders should implement proper risk management strategies when utilizing high leverage.
Trading Platofrms
Regarding trading platforms, EstaTrade provides a choice of platforms to meet the diverse needs and preferences of traders.
Clients can opt for industry-leading platforms such as MetaTrader 4 and MetaTrader 5, renowned for their advanced trading features, comprehensive charting tools, and customizable interface.
Additionally, the broker offers a WebTrader platform, allowing traders to access the markets directly from their web browser without the need for any downloads or installations.
Deposit & Withdrawal
EstaTrade offers limited payment methods, exclusively accepting bank wire transfers and cryptocurrencies for deposits and withdrawals. While bank wire transfers provide a traditional and secure option for transferring funds, the inclusion of cryptocurrencies offers clients an alternative with faster transaction times and increased privacy.
However, this limited selection can pose challenges for traders seeking more diverse payment options.
User Exposure on WikiFX
On WikiFX, a significant report about unable to withdraw raises serious concerns and serves as a cautionary signal to traders. We strongly recommend that traders carry out a comprehensive review of all relevant details before making a decision. Our platform is designed to serve as a crucial resource in your trading journey. If you ever encounter any fraudulent brokers or have personally experienced such malpractices, we strongly urge you to report it in our “Exposure” section. Your contributions are invaluable in helping us achieve our mission, and our expert team will make every effort to respond to your concerns promptly.
Customer Service
EstaTrade provides multiple customer support channels, including email and phone assistance for direct communication. Additionally, clients can reach out through the company's physical address or engage with EstaTrade via social media platforms such as Facebook and Twitter, ensuring accessible and varied avenues for addressing inquiries and concerns.
Tel: +14378863080.
Email: support@estatrade.com.
Address: Suite 305, Griffith Corporate Center, Kingstown.
Conclusion
In conclusion, while ESTA offers online trading services in Currencies, CFDs, precious metals, and cryptocurrencies to its global clientele, concerns arise due to the absence of regulatory supervision and ongoing website accessibility issues. This casts doubt on the broker's reliability, and it's unclear whether the broker's business is in a cease situation or not.
Given these uncertainties, ESTA is strongly unrecommended. We advise you exploring alternatives that prioritize transparency, regulatory compliance, and consistent customer service to ensure a trustworthy trading experience.
Frequently Asked Questions
Is ESTA regulated？
No. The broker is currently under no valid regulation.
Is ESTA a good broker for beginners？
No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its unavailable website and negative report on WikiFX.
Does ESTA offer industry leading MT4 & MT5？
Yes, it offers both MT4 and MT5.
Whats the minimum deposit does ESTA request？
$100.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
2023-02-22 12:03
