Equiity

Investigating Equiity: A Comprehensive Review

Equiity.com is a CFD broker that tells clients it’s ready to provide them with comprehensive support during trading. The company promises traders everything: from the most advanced terminals to access to almost all financial markets, as well as complete fund security. However, users see hundreds of such statements on fraudulent websites and naturally fear they are seeing another scam project. Can this platform be trusted? We attempted to answer this question in the review below.

Overview of Equiity.com

To decide whether to work with a particular broker, a trader needs to analyze as much data about it as possible. We’ll take the traditional route and start the Equiity.com review with its official website.

Broker History

We always try to begin acquaintances with a company with a brief excursion into its history. This information is extremely useful as it gives an idea of the team’s experience, its ability to succeed, and its skill in developing and implementing plans. Additionally, it can help draw conclusions about the broker’s reliability. All of this positively impacts the platform’s reputation and trustworthiness.

However, this only works with projects that are willing to publish historical data. This is definitely not the case with Equiity.com. The broker has even managed to turn “About Us” page into an advertisement, skillfully narrating (once in ten) about its merits and assistance to traders. Unfortunately, no factual confirmations were found, nor even a place for a single date. We understand that this is not a reason to call the company fraudulent. However, we are 100% sure that this is exactly what scammers tell about themselves.

Equiity.com Website

We evaluated the design and content of the official website pages. We can say that we have far from a high opinion of them. Literally all pages are overloaded with images and are exhausting with control elements urging visitors to become clients of the platform. It creates the impression that you have stumbled upon not an informational resource of a broker, but a store selling not the best quality goods, which cannot be sold without aggressive advertising.

This is also the reason for the problem with filling the site. No specialist will be able to place informative content on a page, 80% of which is occupied by images. As a result, only talking with advertising slogans like:

• Integrity is where you begin (Home Page).
• Lead your way in Forex trading (Markets -> Forex Trading).
• WebTrader: designed for your effective trading (Trading -> Trading Platforms).
• Trade the way you have always wanted! (About Us).
• Almost the entire (except for a couple of pages) website is done in this style. Accordingly, its informational value approaches zero.

It seems that the Equiity.com owners have set the developers the task of making the customer open an account at all costs. However, they do not know the specifics of providing brokerage services or the interests of traders. And the latter will not open and, most importantly, fund accounts until they get the necessary information (with such a site, they will never get it). However, this only applies to traders with certain experience and knowledge. For beginners whose main goal is to earn as much as possible as quickly as possible, such an approach may be acceptable.

Registration Process and Personal Account

The registration process for a new client on Equiity.com promises to be engaging. On the first tab alone, a user needs to fill in just 5 fields in the registration form:

• First and Last Name.
• Email Address.
• Phone Number.
• Authorization Password.

Additionally, it’s mandatory to confirm one’s adulthood and agreement with the text of the Terms & Conditions, Privacy Policy, Cookies Policy, Complaints Handling Policy, Risk Disclosure.

Next, users will have to:

• Enter additional personal information (for example, full postal address).
• Complete a questionnaire, based on which the status of a retail or professional investor will be assigned (trading conditions offered to the trader are supposed to depend on it).
• Submit documents for verification.
• Fund the account.

Only after completing all these steps can a new client start trading.

However, it’s not all that simple. All attempts to even complete the first step of registration end with the message “Equiity is not available in your location or to residents of your country”, regardless of the phone number and country (which can be easily changed by selecting the appropriate VPN).

Of course, solving the problem is quite simple: you just need to contact the company’s support service. Its representatives will quickly create a user account, mark it as having completed the questionnaire, and provide access to the user’s personal account.

However, not everyone will be granted this opportunity. Only those who confirm their interest in trading specifically with this broker and are ready to fund their account here will be honored. Unfortunately, we were unable to open an account. Therefore, the functionality of the client workspace remained unknown to us.

Trading Platform

Based on the description of the trading terminal, Equiity.com offers clients the most modern software with unique capabilities. Company representatives spare no expressions like “Lightning-fast execution” or “super effective trading platform.”

However, for some reason, the program is presented in only one version, intended for browser-based use. Traders are not offered a desktop version of the terminal or mobile applications. From our point of view, this may happen when a broker does not develop the software itself but purchases a ready-made solution. It seems that this is exactly what happened with Equiity.com.

At the same time, owners opted for the cheapest option for the platform. Of course, it looks and is most practical for projects that do not plan to operate for decades. Could these considerations have been decisive in purchasing the program?

We would be delighted to see a super-efficient terminal with lightning-fast execution of client orders in action. However, the lack of an active account prevented us from doing so. By the way, the broker also does not provide a demo account, which would allow anyone to familiarize themselves with the platform’s operation. This raises another question: why does the company hide the software from traders? Or is it not as good in reality as it is claimed to be?

Contacts

However, the contact page is actually quite good here. Despite the broker continuing to “speak” in advertising slogans, it has managed to offer traders various ways to contact support.

The page features:

• Online chat (available on all website pages).
• Feedback form.
• Email support@equiity.com.
• 7 phone numbers: +97145429107 (UAE), +97365002018 (Bahrain), etc.

There are even links to social media pages on Facebook, Instagram, Twitter, and Linkedin. All of them are active and actively managed by company employees. However, most of them operate in a blog format, without the ability to comment on posts or ask questions.

It’s also interesting to note the creation date of groups and channels — December 2022. Obviously, either the broker previously did not operate on the internet, or dealing with current issues did not leave much time for Social Media.

Analysis of Services Offered by Equiity.com

A quick review of the official website gave us a lot to think about regarding the fairness and transparency of its operations. However, there is still insufficient information for definitive conclusions. Let’s see what conditions Equiity.com offers its clients for trading.

Funding and Withdrawal

There’s no separate page detailing the characteristics of financial operations on the website. However, there’s a whole section in the FAQ (Support Hub) where the company answers user questions. Here, you can find a list of payment methods used, including:

• Debit/Credit cards.
• SEPA and SWIFT bank transfers.

You can also find the minimum deposit amount, which is $250, and some information about fees. For example, the minimum withdrawal amount for a bank transfer is $50 to cover system fees.

Unfortunately, in the personal account, we couldn’t see the methods and characteristics of payments that the broker actually offers to active clients.

We also did not see the actual process of depositing and withdrawing funds. However, in online reviews, clients say that delays in payments are not uncommon, and deposits are accepted in such a way that the sender does not see the recipient’s details.

Equiity.com Trading Conditions

The broker publishes trading conditions on various pages, probably to engage website visitors in a fun and exciting quest. We completed the task by reviewing literally the entire official website of the company, but now we know that:

• The minimum deposit is $250.
• The maximum leverage of 1:200 is available only for Forex pairs. For indices and commodities, it’s 1:50, for stocks 1:10, and for cryptocurrencies 1:5.
• Spreads depend on the selected asset group and start, for example, from 1.4 pips for currency pairs and from 2.2 pips for indices.

Moreover, Equiity.com publishes information about account types exclusively for those who have completed the quest. For instance, the table lists only 3 tariff plans: Silver, Gold, and Platinum. It is stated that the minimum trade size is 0.01 standard lot, and account holders of the two higher types will trade with a discount on spreads and swaps of 25% and 50%, respectively.

However, it turns out that the minimum spread is already indicated taking into account this discount, and the standard one starts, for example, for the EUR/USD pair, from 2.6 pips. This is not a small amount; for most licensed brokers, it’s half as much.

In any case, the company’s desire to get as much money from traders as possible is evident in literally every action. For example, the payment transactions operator, which receives commissions for processing financial operations, is MRL Investments (CY) Ltd. Coincidentally, the company managing Equiity.com bears the name MRL Investments (MU) Ltd. Surprising, isn’t it?

In fact, the commissions received by the operator go into the pockets of the same people with whom trading is conducted. And that’s all you need to know about fairness and transparency.

Is Equiity.com Trustworthy and Reliable?

The more we look at the company’s offerings, the more disheartening the impression of its methods becomes. We will try to make final conclusions based on the analysis of official information about the firm.

Assessing Legitimacy

In the footer, the broker states that it is operated by MRL Investments (MU) Ltd., registered in Mauritius at 7th Floor, Tower 1, NeXTeracom, Cybercity, Ebene 72201, Mauritius. The company also provides the license number GB21027168 issued by the local financial regulator SFC.

These data are confirmed in the regulator’s registry and databases. However, we still have doubts that the owners simply found an existing legal entity with a broker’s license. There are grounds for this, as outlined below.

Established Track Record

We conducted a check on the age of the company and the duration of its operation online using the whois service. The domain registration date perfectly shows the information we need.

As we can see, the domain used by the broker was registered back in November 2016. However, it belonged to a completely different company and was later put up for sale. In Web Archive snapshots, we can find confirmation of this, as well as evidence that after being purchased by the broker, the updated website only started operating in February 2023.

This contradicts the data on the obtained license, which was issued on April 20, 2022. The question arises: did the company not provide brokerage services for almost 10 months? It’s very difficult for us to believe this.

Hence, our doubts that Equiity.com is indeed operated by a company from Mauritius with a broker’s license. However, we have not yet been able to find any evidence to the contrary.

Implications for Traders

In our opinion, there’s no reason to trust the broker. Yes, Equiity.com provides data on official registration and licensing, but the domain registration date raises doubts about their accuracy. It is not possible to register independently, which also does not allow seeing the real list of payment methods and characteristics of non-trading operations. Even the official website resembles more of an advertising brochure than an informational resource for current and prospective clients. We would refrain from funding accounts and recommend all traders to act accordingly.

Strengths and Weaknesses