Esta Trade Review: An Unregulated Offshore Broker


Esta Trade Review: An Unregulated Offshore Broker

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Esta Trade is an offshore broker targeting institutional-grade trading clients. Before you lose your company or institution’s fund, you need to know the truth. Despite having an aesthetically appealing website, EstaTrade is a shoddy broker. All facts point to a broker who does not mean well for clients. Their reputation is already hitting the wall in most trading forums, and it’s best to stay away. We have all the concrete evidence of their illicit website. Read this clear ESTA TRADE Review for more.

Esta Trade Review

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A Brief Overview of Esta Trade

The broker claims to provide a secure ECN trading environment. We have to give them credit for designing an intuitive and user-friendly website. That’s all they are good for, creating websites that mimic a trading platform.

Thanks to our years of trading experience, we know how to spot scam websites. With the industry becoming ever competitive, scam artists are on the prowl. We have to eliminate them and help protect the trading world.

Esta Trade claims to offer a problem that has been there within the trading world. The broker claims to solve disproportionate spreads, delayed client support, and slow trade executions. According to their about us page, EstaTrade is structured to solve these issues primarily.

With claims such as these, naïve and newbies will sign up without thinking twice. And that’s how scam artists trap unsuspecting investors with enticing words.

Affiliate program

With the broker aiming to create long-term success, they enlist affiliate users. One issue with their affiliate program is that as an affiliate, you won’t get paid. Complaints from affiliate marketers were the first red flags raised regarding the broker.

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Victims will also vent their anger on these affiliate partners. The victims want affiliates to pay back the lost funds. Victims complain that affiliates directed them to a scam brokerage firm.

Assets and trading instruments found in EstaTrade

Esta Trade offers four classes of assets that include CFD commodities, crypto, forex, and indices. The broker claims to offer a variety of commodities such as Gold, natural gas, and oil. You also get to trade CFDs on popular Crypto.

The broker does not list the available types of crypto on their platform. There are over 60+ currency pairs to trade, with most being major currencies. Some of the indices to find include DAX30 and UK100.

Becoming a member

As expected, the sign-up process is easy and fast, and it takes less than five minutes to complete. There’s a security threat facing members during the verification process. We don’t expect any broker to ask for banking information from clients as proof of ownership.

The broker asks for credit card numbers and copies of your ID. A legit broker will either use email or send an SMS code for account verification.

Business bearer

There’s no mention of any entity or professional working behind this platform. It’s a ghost trading platform as the broker fails to mention the names. And this is concrete proof that we are dealing with an anonymous broker.

The fact that they use St. Vincent and the Grenadines as their address is proof enough. It’s a well-known fact that offshore brokers prefer this location as it doesn’t offer any strict regulation.

Deposit bonus

EstaTrade Payment Options

Another feature to warrant suspicion is the broker offering a 100 percent deposit bonus. For you to claim the bonus, you must deposit $100. Any broker that offers a bonus is going against trading regulations.

Ensure you avoid these brokers as they use the bonus to leverage your account balance. You won’t withdraw funds unless you pay back the deposit amount. The broker will insist on depositing a new amount even if the account has funds to cover the bonus.

Domain footprint ( review)

The broker’s IP location is the UK, and the registrant also resides in the region. It seems that this is a short-term website as the IP history shows a span of 10 years. As we publish the post, their website is 214 days old. The broker must be re-inventing this website after every two years.

Once the current website becomes fully exposed, the broker will shut it down or sell it. After two years, the broker will recreate the website and scam other investors.

Esta Trade License and Registration Status

Esta Trade is a non-compliant broker whose website should be shut down by authorities. With more complaints coming from European investors, we hope authorities will act quickly. The Financial Conduct Authority is already finishing up with its investigation.

FCA will likely issue a warning regarding this broker. Other regulators in the EU region will follow suit and, hopefully, end this broker’s reign.

It takes a real broker to post copies of their license documents for all to see. This gives the members a chance to confirm the details with authorities. It also shows how transparent the broker is and extends it to investors.

That’s the way all brokers should behave once they start a brokerage service. EstaTrade are just scam artists looking for a meal ticket by stealing from naïve investors.

Features of Esta Trade

Account type

The broker only offers one account type, an ECN account for institutions. Esta Trade also offers single accounts to individuals without mentioning the trading conditions. Every investor should be aware of trading conditions before signing up. The broker is hiding these details to take advantage of members later.

Esta Trade Account Types

Despite having to deposit $100 to earn a $100 bonus, the members will have to add more funds to their accounts.

Contact and support

Expect little to no support with this broker, especially if you deposit a large sum. The broker laughs all the way to the bank once members deposit large sums. Their idea of a meal ticket is creating a dummy trading website where investors deposit funds.

Our review will help expose their dirty tricks and ensure no one else falls for this broker. Getting in touch with the broker is next to impossible as they rarely respond to emails.

Deposit and withdrawals

The broker accepts Bitcoin and fails to list other depository options. Victims claim that the broker sends an email with a bank account where users deposit funds. There’s a withdrawal claim that users should expect their funds within 48 hours.

All the time that this broker has been active, there have been no withdrawals. It goes to show that depositing funds is the only process that takes place.

Safety of funds with Esta Trade

With the broker blocking withdrawal attempts, the security of funds is not possible. The broker doesn’t offer the necessary protection traders need. There’s no segregation of accounts taking place, which is contrary to trading regulations.

The broker also fails to offer insurance cover for deposits contravening trading rules.

Scam or Legit Esta Trade Features

Esta Trade is a scam waiting to pounce on investors. We will expose them and hope authorities will act quickly to dismantle the website.

Closing remarks

There’s no way we would recommend interacting with the broker. All evidence points to this platform being a scam. Please stay away from EstaTrade and any affiliate directing you to the broker.

A fresh perspective into trading gives you the much-needed boost to find the right broker. Start reading our reviews and get to know more about online trading brokers.

We wish you the very best in your online trading.


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