ESTA

Note: ESTA's official website: https://www.estatrade.com/ is currently inaccessible normally.

Founded in 2020, ESTA is a financial broker that provides access to various asset classes, including currencies, indices, and commodities, through the MetaTrader 4 (MT4) platform. It offers trading leverage up to 1:500 and requires a minimum deposit of $10. However, the lack of regulation and an inaccessible website pose a high risk.

Pros and Cons

Is ESTALegit?

ESTA is not regulated by any major financial institution. Its website is not only inaccessible but also completely anonymous. It claims to be registered in Saint Vincent and the Grenadines, but this country does not regulate the foreign exchange market at all, allowing brokers to handle users' funds and personal information as they please.

What can I Trade on ESTA?

A wide variety of trading instruments are available on ESTA, including forex, indices, cryptocurrencies and commodities (oil, energies, metals, coffee, sugar...).

Account Type

On 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.

Both account types require a minimum deposit of $100.

Leverage

ESTA offers leverage up to 1:500, while most financial institutions globally have tightened restrictions on retail investors' leverage, making it well below 1:100. Therefore, it's best to exercise caution and refrain from trading with ESTA.

Trading Platform

ESTA offers the highly acclaimed MetaTrader4 for trading. However, Esta's website is inaccessible, so we are unable to test it. Therefore, we reiterate our recommendation to choose a broker that is legally regulated.

Deposit and Withdrawal

ESTA only accepts payment through bank wire transfers and cryptocurrencies, both of which are non-refundable. Additionally, the broker has not disclosed detailed payment terms and lacks legal documentation.