Esta Trade provides a pure ECN trading environment that enables traders to trade online exclusively. Esta Trade is legally registered in St Vincent and Grenadines. They offer forex and crypto traders access to a range of both traditional assets and crypto assets, high trading leverage of up to 1:500, and funding directly with Bitcoin. Esta Trade offers MT4 trading platform which is well known among the traders worldwide.
Overall Score
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Advantages
Disadvantages
Esta Trade is one of the offshore forex brokers that provides access to the global financial markets for trading. Forex is just one market, and it offers access to multiple markets and trading instruments. Other trading instruments are indices, cryptocurrencies, CFDs and more.
This broker runs on the MetaTrader 4 trading platform, which makes the broker a reliable one for trading in the financial markets. It was founded in 2020, and it is an unregulated broker. Esta Trade has tied up with some of the leading banks to increase its liquidity.
It offers fast trade execution speed along with reliable commissions and spreads on the trades. The minimum deposit requirement of the broker is also low, which means a trader can easily start trading with the broker. The broker is also offering customer support to all the traders.
Pros and Cons: Esta Trade
Trading with this forex broker can be very beneficial as it is one of the recommended forex brokers. Traders get a wide choice of assets to choose from, such as trading CFDs, currency pairs and many more. Along with these, other pros of trading with this broker are:
- Fully encrypted broker that provides segregated accounts for trading
- Multiple account types, including a demo trading account for traders
- A reliable and friendly trading platform that is the MT4
- The broker charges tight spreads on the trading activities
- A wide range of assets are offered for trading, including CFDs
- Investment advice is offered along with fast execution of trades
- Dedicated customer support accessible 24/5
- Several types of deposit and withdrawal options are available
- High leverage is offered for online trading
A few of the negative points or cons that are associated with the broker are:
- It is not a regulated broker
- Some nominal amount of commissions are charged by the broker
- The broker does not provide educational material
- Dedicated customer support is available after a minimum deposit of $1,000
Esta Trade Legit or Scam: Regulations
This is one of the offshore brokers that are operating online. This means it is unregulated and not monitored by any of the regulatory bodies or authorities. However, the broker’s trading platform is protected and encrypted.
This is to make sure that the transactions of traders are fully safe and secure. All the activities of a trader are protected by Secure Sockets Layer (SSL) and firewalls. It also makes the broker a reliable one, and it ensures complete protection of clients’ money deposited for trading.
The broker offers segregated bank accounts to clients because it has tie-ups with leading banks. The funds of each trader are safely deposited in the bank account for complete protection. The accounts are in the banks that follow all the compliances and rules.
Esta Trade: Trading Account Types
The broker offers two types of accounts for trading. A trader can opt for an account that is suitable according to their needs. The accounts are:
Demo Account
Traders can go with a demo account in the starting for learning how to trade. It is a better way to practice trades in the foreign exchange market with the MT 4 trading platform. Traders lose money because of the lack of trading practice and high risk.
Using a demo account, traders can reduce the risk and get exposure to the financial markets. After learning how to trade, traders can switch to the real account and can trade at their own risk. It is perfect to understand the markets and get proper information about the trading assets.
ECN Account
Esta Trade offers a live trading account named ECN account. The spreads are variable, and traders can start trading after making the minimum deposit to their trading account. This trading account provides all the superior options for trading to a trader.
Hence, by using this trading account, a trader can make more money and take advantage of the benefits offered by the broker. The features of this account are as follows:
- Minimum deposit required $10
- The maximum leverage offered 1:500
- Scalping
- Hedging
- Superfast trade execution speed
- Dedicated account manager
- Negative balance protection
- Access to MT4 trading platform
Esta Trade: Online Trading Account Opening
Online trading brokers offer an online process to open accounts. If traders want to open trading accounts for forex trading or trading with other assets. They have to follow a simple procedure that can be performed online. The process is as follows:
- Click on the “Open Account” button displayed on the website of the broker. A trader can choose whether to go with a demo or live trading account.
- Provide all the required information and fill in the same in the provided sections. It includes all the basic information such as name, contact number, and more.
- After filling in all the information, traders can opt for a payment option that they use the most. Verify the banking information and add it with the broker for further transactions.
- In the final step, a trader needs to upload the necessary documents with the broker to verify them and process them further with your account.
This is the simple procedure that traders can follow to open an account with the broker. Once your account opens successfully after the verification process, you can enjoy all the trading features provided by the broker.
Esta Trade: Trading Platform
Esta Trade is an online trading broker that offers trade on one of the best trading platforms that are the MetaTrader 4. It is one of the leading platforms that is used by global traders for online trading. Traders can get the finest trading experience if they trade on this platform.
The trading conditions or features offered by the broker are:
- It is easy to download, install and use for the traders
- Real-time price streaming of global financial markets
- Various time frames to study price charts of an asset
- Different types of views of charts are offered to a trader
- More than 50 technical indicators for chart analysis
- The completely customisable interface of the platform
- Automated trading with the help of expert advisors
- Set price alerts and use different types of orders for trading
- Traders can use it on desktop, mobile or anywhere because it supports multiple devices
These are the features offered with the MT4 trading platform. Most traders prefer this platform over any other platform. Use trading guides available on the platform to make more money.
Esta Trade: Trading Instruments
A trader gets multiple types of trading instruments with this broker. The categories of trading instruments offered are:
- Currencies
- Commodities
- Cryptocurrencies
- CFDs
- Indices
Get more than 60 currency pairs in which you can place a trade to earn profits. Along with this, get a huge variety of commodities, cryptocurrencies, and CFDs. CFDs are complex instruments that are usually traded by professional traders.
However, they are highly profitable also. If you also want to trade CFDs, then build proper strategies and start trading them as they don’t require the holding of assets. Only net settlement is done in cash. Trade with CFD commodities such as natural gas, crude oil, and many more to earn profits.
Esta Trade: Commission & Spreads
The commission charged by the broker depends on the number of lots you are trading. The charges for commission are $1 per lot/per side. A commission calculator is also available on the website. With which traders can calculate the amount of commission that has to be paid on the trade.
On the other hand, spread charges start from 0.01 pips and can be unlimited based on the type of trading instrument. Different assets have different spread charges that are decided by the financial markets only.
Esta Trade: Leverage
The broker is offering maximum leverage of 1:500 for forex trading. Brokers provide higher leverages so that traders need to deposit fewer funds and trade with a higher amount. The meaning of leverage is that, for example, if you are depositing $1 you can trade with $500.
In this way, traders can increase their money and earn higher profits from the market. But the thing traders need to be concerned about is that, use the leverage in affordable limits. The use of leverage can also increase the amount of losses with a trade.
Esta Trade: Deposit and Withdrawal
The broker is offering several types of convenient payment options for traders from which they can choose the best options. The options to deposit and withdraw funds are:
- Bank wire transfer
- Debit card
- Credit card
- Bitcoin & Bitcoin cash
- VISA
Apart from these, there are various other options that can suit your payment style. Most of the time, the deposit and withdrawal take place instantly, but it can take a maximum of 48 hours in case of a delay.
The broker charges nominal transaction charges in case of deposit or withdrawal is done with bank transfer or cryptocurrency.
Minimum Deposit
The minimum amount of initial deposit that a trader needs to make is $10. However, if you want a dedicated account manager, then you need to deposit $1000 a minimum. This is the requirement of a minimum amount of deposit.
Esta Trade: Educational and Research Support
Esta Trade is offering various kinds of trading research material. These can be said as trading tools. However, the broker is not offering any educational resources for traders. A trader can enhance the trading skills using the tools provided by the broker.
The research tools available on the platform are:
- Currency converter
- Margin calculator
- Profit calculator
- Commission calculator
Traders can compare different currency pairs with these useful tools and instruments to earn a higher profit and eliminate the high risk of trading.
Esta Trade: Customer Support
Multilingual customer support is offered to the brokers 24/5. A trader can get support 24 hours a day and five days a week, in which weekends are not included. The support to a trader is offered in three ways that are:
- Live chat
- Email support
- Telephone Support
If a trader wishes to get a personal account manager, it can also be appointed to the trader. The requirement to get a dedicated account manager is that traders need to make a minimum deposit of 1000 dollars in their trading account. It means they have to add more funds to their account.
The Bottom Line
Esta Trade is among the best forex brokers that are available for online trading. It is also one of the recommended forex brokers for trading foreign exchange markets. If you are also searching for a reliable broker, you can consider this broker or compare at least two brokers. It offers complete protection to the transactions made by traders. A huge collection of trading assets are available for trading with the broker.