S2trade-Overview of Minimum Deposit, Leverage, Spreads

BASIC INFORMATION

Trading with S2trade is not secure. It is a trademark of GoldTech Media Services OÜ, a brokerage firm with roots in Tallinn, Estonia, which offers a variety of accounts from different levels of traders along with favorable trading terms. There is a significant vacuum in the company's offering, nevertheless, as there is no license or registration from the reputable agency that regulates the Forex market. Since there are many frauds in the sector and traders should invest prudently while selecting the safest trading circumstances, we normally advise against trading with unregulated brokers. S2 Trade is a forex broker that was established and is run by experts in the field. Their core principles include impressing their traders with their commitment, acting with fairness and integrity, being trustworthy and excellent communicators, and accepting full responsibility for their activities. They take great pride in both their education center and customer service division. In order for you to decide if they are the best broker to use, we will use this review to investigate the services provided and examine how they stack up against the competition.

LICENSES

No valid regulatory information, please be aware of the risk

BUSINESS SCALE

There are many resources accessible, and they have been divided into several groups. We have listed these groups below, along with the instruments found in each one.

Forex Majors: EURUSD, USDJPY, AUDUSD, USDCAD, NZDUSD, USDCHF, GBPUSD.

Forex Crosses: CADJPY, AUDJPY, EURGBP, EURAUD, EURJPY, EURCHF, CHFJPY, NZDJPY, GBPCHF, GBPJPY, EURCAD, GBPCAD, EURCAD, AUDCAD, AUDCHF, GBPAUD, CADCHF, NZDCHF, AUDNZD, GBPNZD, USDHKD, USDPLN, EURNZD, USDSGD, USDTRY, EURTRY, EURPLN, EURDKK, USDDKK, EURNOK, USDNOK, EURSEK, USDSEK, USDZAR, USDMXN.

Indices: Nasdaq, Dow Jones, S&P 500, CAC 40, IBEX 35, Nikkei, SMI,

Dax 30, FTSE 100.

Metals: XAGUSD, XAUUSD (Silver and Gold)

Shares: There are plenty of shares available from the USA and Europe, some of them include Cisco, Google, Coca-Cola, BMW, and FIAT.

Commodities: Cocoa, Corn, Soybean, Wheat, Coffee, and Sugar

Energy Futures: Crude Oil, Natural Gas, and Brent Crude Oil

Cryptos: ETHUSD (Ethereum), BTCUSD (Bitcoin), XRPUSD (Ripple), and LTCUSD (Litecoin)

SPREAD

When using the commission-based system we previously examined, the Standard account has spreads starting at 0.2 pips while the Premium and VIP accounts have spreads starting at roughly 0.1 pips. The accounts can use either a spread-based system or a commission-based one. The Standard account has spreads starting at 2.5 pips, the Premium account at 2.1 pips, and the VIP account at 1.5 pips when using the spread-based strategy.

Since the spreads are erratic, they will fluctuate with the market; the more the turbulence, the bigger the spreads will be. When looking at the Standard account, different instruments will also have different average spreads; for example, the spread for the USDJPY is 1.6 pips on average, while the spread for the GBPUSD is 4 pips.

S2TRADE BONUS

This broker advertises a 30% Bonus on its home page, but other than a brief statement in their terms and conditions that reads, “For a bonus of $1.000, the minimum lots required are 200,” the website provides no other information. A regular lot costs $100,000, thus using basic algebra we can calculate the required turnover as 100,000 x 200 = 20,000,000. Good luck with that trade!

MINIMUM DEPOSITS

The Standard account can be accessed with a minimum deposit of $500; the Premium account requires a minimum deposit of $5,000; and the VIP account requires a minimum commitment of $50,000. Once an account has been setup, the minimum deposit amount for subsequent top-up deposits drops to $250.

DEPOSITS METHOD AND COST

You can deposit using one of five different methods: Visa/MasterCard, Bank Wire Transfer, Skrill, Neteller, and WebMoney. S2 Trade does not charge any additional costs, however if you use a credit or debit card to deposit, make sure you use the same currency or you will have to pay an exchange fee. You should also check with your bank or processor to see if they impose any fees for outgoing transfers.

Withdrawal Methods & Costs

In our opinion, the same five withdrawal options are still available: Visa/MasterCard, Bank Wire Transfer, Skrill, Neteller, and WebMoney. Although there is no mention of any costs on the information page for withdrawals, you should always check with your bank or credit card company to see if they will tack on any additional incoming processing fees.

Withdrawal Processing & Wait Time

According to the website, any withdrawal requests from S2 Trade will be processed within 3 to 5 business days; this is the entire amount of time needed to process the withdrawal. Based on the processing times at your individual bank, the period may change.

CUSTOMER SERVICES

The primary phone line is open from 08:00 to 22:00 GMT+2 from Sunday through Friday, although the main support crew is available around-the-clock, five days a week. You can contact us by using the online submission form, and you should receive a response by email. Additionally, you can contact us via phone, email, or postal mail.

s2trade.com/support Email +3726347396 Phone