Quick Links

• Our Review Method

• Is 2dots Scam or Legit Broker?

• What is 2dots?

• Conclusion

Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding 2dots due to the issues we've identified.

Is 2dots Scam or Legit Broker? ▲

Upon evaluating 2dots, it has become abundantly clear that this broker does not meet the safety criteria necessary for traders to engage with confidence. The entity behind 2dots, Webnet Ltd, claims incorporation within the jurisdiction of Luxembourg. However, a deeper dive into the terms and conditions reveals a registration in Vanuatu. The regulatory environment in Vanuatu is notoriously lenient, requiring minimal efforts for brokerage establishment—only an online application, proof of initial capital as low as $2,000, a fee, and within a few months, the firm is operational. This ease of setup has unfortunately attracted a number of dubious forex brokers, such as Circle Markets and IC Finance. Our extensive research into over 1,000 brokers has shed light on the risks associated with trading through brokers registered in Vanuatu, underscoring why 2dots is not a safe option for traders.

• Registered in: Vanuatu

• Type of License: Offshore License

• Is 2dots safe to trade: No

• Recommended Licenses: FCA in UK & ASIC in Australia

What is 2dots? ▲

2dots purports to offer a modern trading experience with access to over 1,000 financial assets across CFDs and FX markets, boasting of a pioneering trading approach and unparalleled client security measures. However, the credibility of these claims is severely compromised by the lack of registration and regulation by any reputable financial authority. Notably, Luxembourg, being a part of the EU, mandates specific registration and licensing requirements for financial service providers, none of which 2dots meets. This glaring oversight strongly suggests an indifference towards client welfare, aiming solely at the accumulation of trader funds.

Disturbingly, this speculative concern is substantiated by numerous trader complaints detailing classic scam strategies such as restricted withdrawals, manipulation of price feeds, and trading account interference. Further, the Spanish regulator CNMV has blacklisted 2dots, a testament to the broker’s dubious operations:

"www.2dots.com / WEB NET LTD is not authorized to provide the investment services, which include investment advice, or to provide auxiliary services in relation to the financial instruments, including, for those purposes, foreign currency transactions."

Conclusion ▲

In light of the evidence presented, our recommendation is to steer clear of 2dots and other Vanuatu-based brokers. Traders are advised to engage with brokers that are well-regulated by reputable authorities such as the FCA in the UK or ASIC in Australia. Brokers like eToro and XM.com, known for their reliability and regulatory compliance, present far safer trading options.

Pros:

• None to be highlighted due to the significant concerns over safety and regulation.

Cons:

• Registration in a jurisdiction with minimal regulatory oversight.

• Lack of reputable licensing.

• Numerous trader complaints regarding withdrawal issues and account manipulation.

• Blacklisted by a European financial regulator.

2dots Update:

It has been observed that the 2dots website is no longer active, suggesting a suspension in their trading services. Despite this, traders are urged to remain vigilant and avoid any engagement with proposals that may emerge from this broker or similar entities.