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equiti Review - Is it scam or safe?

Equiti Review - is equiti.com scam or good forex broker?

RATING: 3 / 1 REVIEWS equiti
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Trading Accounts

 

Account type

Minimum deposit

Minimum trade size

Maximum leverage 

Average Spreads (& Commission)  

Trading platform 

Executive

$500

0.01

1:500

1.5 pips

MT4

Premiere

$20,000

0.01

1:500

0.4 pips +$9 /lot

MT4

 

There are two account types offered by equiti – Executive and Premiere. Both of them offer market execution, variable spreads, leverage up to 1:500 and the option to trade in micro lots on the renown MetaTrader 4. The Executive account is commission-free, while the Premiere includes a commission for the ECN environment.

 

Unlike most brokers, however, this one does not provide PAMM services. 

 

The Company. Security of Funds

 

Company

Country

Regulation

Divisa UK Limited

UK

FCA

 

Equiti is a UK-based multi-asset execution-only brokerage with No Dealing Desk Execution (NDD) model. It offers trading in wide range of financial instruments – more than 60 currency pairs, CFDs on indices, commodities and precious metals on the popular MetaTrader 4. This is in fact one of the brands operated by Divisa UK Limited, which also operates the Divisa Capital brand. The company is duly authorized and regulated by the Financial Conduct Authority (FCA).

 

Divisa group’s global coverage is facilitated by offices in the UK, US, New Zealand and the Republic of Armenia. In fact, Divisa also holds a license from the Central Bank of Armenia and is regulated in New Zealamd as a financial services provider.

 

All FCA-licensed brokerages are required to hold net tangible assets amounting to at least 730 000 EUR and are obliged to adhere to a number of standards and procedures, for instance, to hold clients` money in segregated accounts, to send regular reports on trades to the commission, etc.

 

Besides, FCA-regulated companies fall under Financial Services Compensation Scheme (FSCS), which protects consumers up to £50,000 per person. Here you may check out more FCA regulated forex brokers.

 

Trading Conditions

 

Minimum Initial Deposit

The minimum deposit amount required to open an account with Equiti is $500, which is average for the market. Yet, other UK brokers require less as a start or none at all. For example, leading UK CFDs and spread betting provider IG, has not set any minimum initial deposit requirement.

 

Average spreads & Commissions

Equiti’s typical variable spreads on commission-free accounts are on the upper end of average, amounting to around 1.5 pips on EUR/USD. While this is a competitive pricing, other UK brokers offer tighter spreads. For example, IG’s average spreads on commission-free accounts amount to 0.8 pips on EUR/USD. You may also check out real-time spreads of 15 leading brokers here for further information and comparison.

 

Maximum Leverage

This broker offers high leverage levels, reaching 1:500. Although FCA has recently proposed a leverage cap of 1:50 because of the risks associated with trading with high leverage levels, many other FCA-regulated brokers offer similar leverage rates. For instance, FxPro also provides leverage up to 1:500. You may check out a list of forex brokers that offer leverage levels equal to or exceeding 1:500 here.

 

Trading Platforms

 

Equiti supports the most widely used MetaTrader 4, a professional, fully-featured software. The MT4 platform is equipped with a whole host of extremely valuable research and analysis tools vital to trading. Besides, it provides its clients with the opportunity to fully automate their trades via Expert Advisors (EAs).

 

Methods of Payment

 

The payment methods available to Equiti ` clients are credit/debit cards, bank wire and e-wallets Skrill and Neteller.

 

Conclusion

 

Equiti is a recently launched FCA-regulated forex and CFD broker whose trading conditions are pretty attractive: NDD execution and competitive spreads on the MT4. To sum up the above, here are the advantages and disadvantages with regard to Equiti:

 

Pros Cons
FCA regulation No PAMM services
Competitive spreads  
MT4 available  

 

Latest news about equiti
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Traders` reviews for equiti

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Mis-selling - Fraudulent Misrepresentation - Gross Mis conduct

One of subsidiary of Equiti Group (Equiti Jordan Ltd) has no checks and controls over their introducing broker (Prime Zone Dubai), due to which they are using the innocent people who don't have any prior experience in FX trading, and they provide inappropriate advice for trading by the customers on-boarded through them, and making good value of commissions, regardless, the client lose or gain.

Bad experience of having account relationship with Equiti Jordan, when I asked for support from equiti Jordan, I was assured that my account manager will contact me, but no one contacted me to know my concerns.
Their introducing broker also open the account on behalf of their clients (happened with me as well)without any consent / declaration of account holder for the sake of account application approval and opening.

Ahsan 09/09/2018
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