Equiti Review 2024

Quick Links

• Our Review Method

• What is Equiti?

• Equiti Pros and Cons

• Is Equiti Safe or a Scam?

• Leverage

• Accounts

• Fees

• Spread

• Market Instruments

• Deposits and Withdrawals

• Platforms

• Customer Support

• Education

• Conclusion

Our Review Method ▲

Our evaluation of forex brokers, including Equiti, encompasses a comprehensive approach where we compare a wide range of factors such as regulation, fees, platforms, customer service, and more. This specific review is based on in-depth analysis and comparison with over 1000 brokers, ensuring a detailed and unbiased perspective on Equiti's services and offerings.

What is Equiti? ▲

Equiti Group Ltd stands as a pivotal parent company for a variety of FX and CFD brands, alongside prime brokerage service providers within the financial market. Boasting a global staff exceeding 150 members and offering customer support 24x6, Equiti extends its brokerage services to individual, corporate, and institutional clients across a network of affiliates and subsidiaries worldwide. The brand operates under several names in different regions, including Equiti Jordan in Amman, and has established its presence in key cities such as Dubai, Nairobi, London, Auckland, Miami, and Yerevan, catering to a diverse client base with its wide-ranging services.

Equiti Pros and Cons ▲

Pros

• Equiti is recognized for its reliable brokerage service, backed by robust regulation and an NDD execution model.

• The broker offers a variety of account types, ensuring traders can find options that best suit their needs.

• Competitive spreads and commissions make trading costeffective for many users.

Cons

• Trading conditions can vary significantly across different regulatory entities.

• Unlike some competitors, Equiti does not offer 24/7 customer support.

• The initial deposit requirement is relatively high, posing a barrier for some potential traders.

Is Equiti Safe or a Scam? ▲

Equiti is widely regarded as a trustworthy and low-risk broker for trading Forex and CFDs, accredited by top-tier regulatory bodies including the FCA. This regulation ensures client protection through comprehensive compensation schemes and negative balance protection, underscoring the broker's commitment to trader safety. Furthermore, Equiti Group operates through various regulated offices worldwide, holding necessary licenses and adhering to stringent regulatory standards. This operational compliance, especially in regions like the Middle East, UAE, and the UK, reinforces Equiti's legitimacy and dedication to upholding high safety measures for its clients.

Leverage ▲

Equiti makes available leverage options up to 1:500, enabling traders to amplify their trading size relative to their initial capital, thus potentially maximizing their trading capabilities. However, it's important to note that leverage levels may vary depending on the Equiti entity with which a trader is registered. For example, accounts under UK's FCA regulation are limited to a maximum leverage of 1:30 for Forex instruments. This variance emphasizes the necessity for traders to select leverage levels judiciously, bearing in mind the heightened risks associated with higher leverage, which can significantly impact trading outcomes.

Accounts ▲

Equiti offers a range of account types catering to both novice and experienced traders. Initially, you can quickly sign up for a Demo account, also known as a practice account, where you can familiarize yourself with Equiti's trading conditions and environment. This account starts you off with a $10,000 balance in simulated funds, enabling you to test trading strategies in a live market atmosphere without any risk.

For intermediate traders, the Executive Account offers a blend of investment options through market execution with an average spread starting from 1.6 pips. This account allows trading without commission charges as all costs are incorporated within the spread, and it requires a minimum deposit of $500.

The Premiere Account is designed for traders seeking a more professional trading environment. It offers more competitive trading terms and a range of services, though it requires a significant balance of $20,000. This account features tighter average FX spreads of 0.4 pips and a commission rate of $70 per 1 million traded.

For traders requiring specific terms due to religious beliefs, Equiti also provides swap-free or Islamic accounts, adhering to Sharia law principles.

Fees ▲

Equiti's fee structure varies depending on the account type. The Executive account operates on a spread-only basis, while the Premiere account incorporates commission charges. Additionally, traders should be aware of the overnight policy that applies if a trading order is held for more than a day, except for those using swap-free accounts where different conditions apply. Based on our extensive comparison of over 1000 brokers, Equiti's fees are competitively low, with an overall rating of 4.3 out of 5.

Spread ▲

Equiti provides a variable spread offering through market execution, ensuring a transparent pricing model free from unnecessary mark-ups, incentives, or fees. Although our analysis indicates that Forex spreads at Equiti are slightly above the industry average, the broker maintains a competitive stance with an overall spread rating of 4.0 out of 5.

Market Instruments ▲

With NDD (No Dealing Desk) execution, Equiti's liquidity providers include some of the world's largest banks, offering a diverse range of products and services across asset classes. This includes Forex and CFDs, Precious Metals, and various Partnerships. Traders have access to popular commodities, global indices, and shares from over 155 renowned companies, all available for trading on a CFD basis. Equiti's market range score is 4.4 out of 5, indicating a broad selection of trading instruments, with an even wider range available to international clients.

Deposits and Withdrawals ▲

Managing funds is a crucial aspect of trading, and Equiti offers a diverse range of methods for deposits and withdrawals, tailoring to the needs of traders worldwide. The broker's approach to funding methods is commendable, with an excellent rating of 4.4 out of 5. Nonetheless, it's important to note that the minimum deposit threshold is relatively high.

Pros

• Wide variety of payment methods including cards, bank wire, and epayments

• No charges on deposits or withdrawals from Equiti's side

Cons

• High minimum deposit of $500 for standard accounts, and $20,000 for professional accounts

• Epayment withdrawals incur a 1% fee

The minimum deposit requirement is $500 for a standard account, which is on par with many other brokers in the industry. However, for those looking to open professional accounts, a substantial $20,000 is required. It's also worth mentioning that while Equiti absorbs fees for deposits and withdrawals, transactions through e-payment providers like Neteller and Skrill may incur a 1% fee.

Platforms ▲

Equiti provides access to the widely acclaimed MetaTrader4 and its web version, EQTrader, ensuring traders have robust platforms for their trading activities. The platforms are rated excellently, scoring 4.1 out of 5 when compared to over 1000 other brokers. This high rating is attributed to the comprehensive features and tools offered, including advanced charting and technical indicators.

Pros

• Availability of both MT4 and EQTrader platforms

• Comprehensive trading tools and features

Cons

• Limited to mainly MT4 and webbased platforms

The desktop version of MT4 remains a popular choice among traders, offering a rich set of tools and indicators for a detailed trading experience. For those seeking convenience, the EQTrader web platform provides a simplified trading experience accessible from any browser. Additionally, the mobile app is well-designed, allowing traders to manage their trades on the go.

Customer Support ▲

Equiti's customer support is available in multiple languages, ensuring traders from various regions can receive assistance. Operating 24 hours a day, 6 days a week, the support team is accessible via live chat and phone. The service quality is rated at 4.4 out of 5, highlighting the responsive and knowledgeable support provided.

Pros

• Multilingual support available 24/6

• Responsive and helpful customer service

Cons

• Not available 24/7

Education ▲

Equiti's commitment to trader education is evident through its comprehensive Academy, which offers a wide range of learning materials including videos, webinars, and guides. Additionally, the online Newsroom keeps traders updated with the latest market news. The education offerings are rated at 4.1 out of 5, reflecting the quality and breadth of resources available to traders.

Pros

• Extensive range of educational materials

• Cooperation with leading market data providers

Cons

• Could benefit from more advanced topics for professional traders

Conclusion ▲

Equiti establishes itself as a robust forex broker with a strong international presence, offering a transparent trading environment across a variety of instruments. The broker excels with its platform offerings, notably the market-leading MT4, and provides comprehensive support and educational resources, catering to both beginner and professional traders. The focus on the MENA region and the provision of swap-free accounts are notable features that enhance its appeal.

Based on our comprehensive review and expert opinions, Equiti is well-suited for:

• Beginning Traders

• Professional Traders

• Automated Trading Strategies

• Copy Trading

• Scalping/Hedging Strategies

• Traders preferring MT4 or MT5 platforms

• Currency and CFD Trading

Overall, Equiti is recommended for traders seeking a reliable and versatile broker with a focus on quality platforms, education, and customer support.