Steam Takeovers has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Addresses: 225 Franklin Street Boston Massachusetts 02110 United States of America This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.steamtakeovers.com.
The mobile app from Steam Takeovers is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Demo account available|Excellent charting|Clean UI
Cons: Could offer more webinars|No live chat on mobile
I referred a friend to Steam Takeovers from a blog post comparing services. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Clear documentation|Transparent fees|Quick verification|Responsive team
Cons: Mobile app could be improved
The spread at Steam Takeovers is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them from a review site like this one and initially thought the platform was good - until I started trading seriously.
Pros: Regular updates|Fast execution|Clear documentation
Cons: Wish they had more educational resources|Withdrawal takes 1-2 business days
I had a dispute with Steam Takeovers and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Professional team|Dedicated account manager
Cons: Nothing significant|Inactivity fee applies after 12 months
The hidden fees at Steam Takeovers are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Two-factor authentication|Excellent charting|Copy trading available|Detailed reporting
Cons: Slow to add new assets
Steam Takeovers changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Stable platform|Responsive team
Cons: Minor UI glitches occasionally|Alert system is basic
After spending for about ten months trying to make Steam Takeovers work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Responsive team|Easy to use platform|Market news feed
Cons: No integrated tax optimization
Steam Takeovers seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Easy to use platform|Economic calendar|Excellent charting|Multi-currency support
Cons: No phone support on weekends|Currency conversion fee exists