S2Trade Review (2023)

Is S2trade a scam or a legit broker?

S2trade is not safe to trade with. It is a brand used by GoldTech Media Services OÜ an established in Estonia, Tallinn brokerage company that delivers a selection of the accounts of various level traders along with the attractive trading conditions. However, there is a serious gap in the company offering since there is no any registration or license from the respected authority which overseen the Forex business. We generally do not advise to trade with the unregulated brokers, as there are plenty of scams within the industry and traders should invest wisely while choosing the safest trading conditions.

In addition to that, the reputable industry watchdogs constantly check and monitor various offerings and alert clients in order to secure investors’ money from the scams. Likewise, UK’s Financial Conduct Authority (FCA) issued a warning against S2trade since the company was detected in providing financial services without its legal right to do so.

“The GoldTech Media Services OU trading as S2Trade act without our authorization and some knowingly run investment scams”

FCA, UK. February 2018

Therefore, S2trade reputation is doubtful, as well there are some amounts of negative reviews from the traders that faced typical fraud issues. Alike complications to withdraw funds or manipulation within the trading process so then it seems as money lost is a trader’s fault, etc. Unfortunately, that is quite common among the unregulated brokers as their main aim is just to attract the client.

Conclusion

We strongly recommend trading only with authorized firms as the licensed companies run operation according to the set of standards and clients are covered by the Compensation Schemes and other securing services if the things go wrong. While the list of regulated brokers will assist to choose the best suitable company to trade with.