Esta Trade Review
Esta Trade is an online brokerage firm that offers trading on Forex, CFD Commodities, Indices and Cryptocurrencies, via the user-friendly MetaTrader 4 platforms for web, desktop and mobile devices. They have competitive trading conditions including liquidity from 20 tier-1 banks and ECNs to help them deliver low spreads and rapid execution speeds. The broker also offers various account funding options, a free VPS for qualifying clients and 24/5 support with dedicated account managers.
Esta Trade Review, Pros & Cons
- User-friendly MT4 platform
- Range of trading instruments
- Tight spreads
- Low commission fees
- ECN execution speeds
- 24/5 customer support
- Dedicated account manager
- Free VPS
- Minimum $10 deposit
- Not regulated
- No credit/debit card funding
- Limited educational materials
- No UAE traders
In this detailed Esta Trade review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Esta Trade Overview
Esta Trade were founded in 2020 and are based out of Kingstown, the capital of Saint Vincent and the Grenadines. The broker sources liquidity from some of the world’s leading banks and liquidity providers (LP’s) in order to help ensure they can provide traders with the best possible trading conditions. This includes tight spreads and reliable execution speeds with low latency.
Esta Trade state that orders are sent directly to the market without any dealing desk intervention. This ECN brokerage model allows traders to take advantage of deep market liquidity without any manipulated market prices or interference with clients’ orders.
Esta Trade spreads start from just 0 pips whereas the minimum deposit requirement is only $10 and support is available 24/5 via live chat, email and a contact form.
Esta Trade Regulation
There is no regulation information on the Esta Trade website. The broker states that client funds are deposited in Segregated Bank Accounts with Tier 1 banks and that they follow all compliance rules and regulations. They also mention that there is negative balance protection.
The broker is constantly reassessing their policies and taking measures in order to cater for the most appropriate conditions for all of their clients.
Esta Trade Countries
Esta Trade do not accept opening accounts for UAE nationals. Some Esta Trade broker features and products mentioned within this Esta Trade review may not be available to traders from specific countries due to legal restrictions.
Esta Trade Platforms
Esta Trade provide the popular MetaTrader 4 (MT4) platform that is used by millions of Forex & CFD traders around the globe. MT4 is well known for having a user-friendly interface and abundance of features and functionalities that helps to ensure a smooth trading environment. It is packed with a vast array of trading tools to conduct in-depth technical analysis across a range of chart types and timeframes.
The platform is free to download and use for desktop. There is also a web-based version that runs directly in most modern web browsers without the need to download or install any additional software. Furthermore, the MT4 mobile app is great for those who would like to trade whilst on the go from within the palm of their hands.
Some of the key MT4 features include:
- Real time price quotes via the market watch window
- Multiple chart timeframes from 1 minute to 1 month
- Various chart types including candlesticks, bars & line graphs
- 50+ technical indicators & drawing objects for analysing charts
- Fully customisable interface with templates
- Automated trading via expert advisors (EA’s)
- Built-in strategy tester to back test EA’s over historical data
- MQL programming interface to create custom indicators, scripts & EA’s
- Set price alert notifications to be sent via pop-ups, email or SMS
- Free to use on desktop, in web browser or as a mobile app for Android/iOS devices
Esta Trade Trading Tools
The provided MT4 platform should have more than enough tools to satisfy the needs of even the most demanding traders. That being said, you can find plenty of additional MT4 trading tools online and from within the MQL marketplace that is accessed via the platform. The broker also has some useful tools including trading calculators.
A virtual private server (VPS) can be a great way to remotely run your trading platform 24/7, without needing your own computer switched on. You just login at the time that suits you to check your trades and account.
Esta Trade offer a free VPS to traders who make a minimum deposit of at least $1,000. You can contact them to gain access. Should you not fall within the minimum deposit bracket, you can request the VPS services at a reasonable cost of $25 per month.
The key features of the VPS include:
- Rapid order execution and low latency
- Robust security measures and no interruptions
- Globally accessible, ideal for automated strategies
- Great connection speed, smooth functionality
Esta Trade offer PAMM solutions with a PAMM account that is available for clients who want to have separate accounts, traded by a money manager. The software will allow money managers, without having to build investment funds, to easily manage and execute trades in one location. They also give unrestricted account opening and the ability to place large orders at rapid speeds.
You can use Esta Trade’s currency converter to get instant conversions between a large range of currencies.
The Esta Trade Pip Calculator is a useful tool for managing your risk strategy. The pip value calculator lets you calculate the value per pip of each position. With this tool you can monitor your risk for each trade with precision.
The Esta Trade Margin Calculator helps you in decision making by determining the margin required to open and hold a position. Simply select the Security, the Account Base Currency, currency pair (Symbol) you’re willing to trade in, Entry Price, the leverage of your account and Trade size to ascertain the margin required.
The Esta Trade profit and loss calculator is a basic tool that will assist users to calculate the profit or loss from a trade. You just need to select the base currency, currency pair you’re willing to trade in, desired opening and closing prices, Position Type and Trade size (Lots).
The Commission Calculator can help you to calculate what you pay for your trades at Esta Trade. Esta Trade charges a Commission of $1 per lot/per side. The Commission Calculator will assist you in this conversion. All you need to do is enter the Instrument type, trade size, account currency and currency pair you are trading in.
Esta Trade Education
There are not currently any educational resources on the brokers website. It would be advantageous if they could add some trading guides, video tutorials, webinars, etc. This could help traders improve their knowledge.
Esta Trade Instruments
Esta Trade allows you to trade with over 60+ currency pairs, on Forex CFDs. This includes popular currency pairs such as the EURUSD and GBPUSD.
They have a variety of Commodities such as Gold, Silver, Oil & Natural Gas. The broker also offers the following tradeable cryptocurrencies: Bitcoin, Ethereum, Litecoin, XRP.
Keep in mind that the brokers server time is GMT+3 during US Daylight Savings Time (DST) and GMT+2 during US Non-Daylight Savings Time (Non-DST).
Esta Trade Accounts & Fees
Pure ECN Account
Esta Trade has a Pure ECN account with variable spreads from as low as 0.0 pips during highly liquid times whilst the prices are quoted in five decimals. The minimum deposit required to open an account is $10. The broker does not enforce any restrictions on trading practices; thus scalping, hedging and expert advisors are allowed. Lot sizes start from 0.01 with no maximum limit.
Accounts can have EUR, USD or GBP base currencies. The maximum leverage is 1:500. The commission is low at just $1 per 100,000 traded per side and be deducted when the position is opened. The margin call and stop out levels are 70% and 50% respectively.
There is also the Esta Trade demo account which can provide a great way to practice trading online using virtual funds and to learn how to use the MT4 platform. A demo account can also help you to familiarise yourself with the brokers products and services to see if they are right for you before you open a real trading account.
As broker fees can vary and change, there may be additional fees that are not listed in this Esta Trade review. It is imperative to ensure that you check and understand all of the latest information before you open an Esta Trade broker account for online trading.
Esta Trade Support
Esta Trade offers a dedicated multi-lingual customer support team that aims to deliver the best possible support to clients 24/5 Monday to Friday, for all your account and trading needs. The brokers support team can be reached via live chat and email. It would be great if they were to add a contact telephone number in the near future. However, it is worth noting that clients who make a minimum deposit of at least $1,000, will get access to their very own dedicated account manager.
Esta Trade Deposit & Withdrawal
Esta Trade caters to different trader needs with a choice of convenient deposit and withdrawal options. Within 24-48 hours, the funds can be transferred in your account. The broker states that they operate with a client first approach, which is reflected in the way that they have designed the payment gateways.
Bitcoin deposits and withdrawals are welcomed. Bitcoin can be bought and sold for fiat or other digital currencies. As a user, you’re able to track your deposits on Blockchain.info with full transparency. There is a handy guide on the brokers website that explains in a simple step by step process how you can fund your account with Bitcoin. You can also transfer money directly via Wire Transfer into your Esta Trade account.
Clients can simply log into their Esta Trade account and withdraw funds by selecting the appropriate tab from the account menu. It takes approximately 48 working hours for the broker to process all withdrawals. Funds will be received back into the same account that you initially made the deposit from.
Esta Trade cover all transaction costs but it is important to be aware of any charges from your bank and the blockchain which can charge a small withdrawal fee.
Esta Trade Account Opening
You can open an Esta Trade account by completing the short sign-up form on the brokers website. You will need to provide some personal information and verify your identity with documents such as passport, drivers’ license, utility bill or bank statement. Once your account has been fully verified, you can start making deposits and trading online.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
Esta Trade Summary
Overall, Esta Trade has competitive trading conditions including ECN execution, low spreads and commission, with flexible trading platforms that can be used by traders of all experience levels across multiple devices. There is a good selection of trading instruments across various asset classes whilst they provide some trading tools, they could perhaps add some educational materials. Cryptocurrency funding could benefit some traders as can the free VPS, PAMM and dedicated account manager. Furthermore, the multilingual support team is available 24/5 for all your questions.
Trading leveraged products such as Forex and Cryptos may not be suitable for all investors as they carry a degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary seek independent advice.