Is 2dots a scam or legit broker?

No, it is not safe to trade with 2dots. 2dots is owned and operated by Webnet Ltd who is incorporated in Luxembourg. However, the terms and conditions state the company is established by legislation of Vanuatu.

Vanuatu is the easiest jurisdiction to open a brokerage, as the opening requires the company to submit a register online, prove initial establish capital which is $2,000 only, to pay a fee, and within a 2-3 month, the firm is crisp and registered. Therefore, it became an offshore zone for shady forex brokers such as Circle Markets, IC Finance and more. We have a detailed article explaining the risk of trading with brokers from Vanuatu.

2dots offers online trading providing on over 1,000 financial assets traded in CFDs and FX, through an innovative approach to trading and unique alternative. Moreover, the broker states their cutting-edge security systems and utmost protection of the clients at every stage.

2dots Review

However, we would barely believe into that description, as the fact is that the 2dots and its owning company is not registered and regulated by any serious entity. First of all, important to mention, that Luxemburg being a part of the EU require registration and particular license in order to be a legitimate financial service provider. Since the company does not hold any, the only conclusion is that the broker does not care about their clients and having a purpose only to attract traders funds.

Actually, that suspicious guessing was confirmed by the numerous complaints from the traders that sadly faced typical scam behavior. The withdrawals were limited or due to some circumstances not provided, manipulation of the price feeds, as well as on trading accounts. You can read the feedback here.

In addition, 2dots has been blacklisted by Spain’s regulator CNMV:

“www.2dots.com / WEBNET LTD is not authorised 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.”

We advise all investors and traders to avoid 2dots and other brokers from Vanuatu. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as eToro and XM.com.

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