Equiity is a state-of-the-art CFD provider that offers traders access to a wide range of financial instruments. This relatively new broker is gaining traction in the industry, but before you sign up, it is crucial to know whether it is a scam or a legit option for traders.
In this review, we will provide a detailed analysis of Equiity, covering its legitimacy report, features, benefits, and drawbacks.
We will also dive deep into its services and customer support to find out whether it is the best CFD option out there.
Is Equiity A Scam Broker?
Before we dive into the details of Equiity, it’s important to be sure about: Is this broker safe? With so many fraudulent brokers out there, it’s understandable to be cautious when considering a new option.
After conducting extensive research, we can confirm that Equiity is a legitimate broker. The company is registered and authorized by Mauritius’ top-tier financial body – the Financial Services Commission (FSC). This means that Equiity is subject to strict regulatory oversight, and must comply with a number of rules and regulations to maintain its license.
Additionally, we scoured online forums and reviews to see what other traders had to say about Equiity. While there were some negative comments (as is the case with most brokers), the vast majority of reviews were positive. Traders praised Equiity’s user-friendly platform, helpful customer support, and wide range of trading instruments.
Equiity’s Trading Offerings
Now that we are sure about Equiity’s legitimacy, let’s take a closer look at what the broker has to offer. It provides traders with access to 300+ financial instruments, including:
- Forex – Over 50 currency pairs
- Commodities – BRNT-Future contract, CL-Future contract & NGAS-Future contract
- Cryptocurrencies – BTCUSD, ETHUSD & XRPUSD
- Indices – NSDQ, SP, DOW & DAX.
- Metals – XAUUSD, XAGUSD, COPP & PALAD
- Stocks – AMAZON, APPLE, TESLA & Facebook
Equiity’s Fees and Spreads
When it comes to fees and spreads, Equiity’s pricing is competitive with other brokers in the industry. The broker offers both fixed and variable spreads, depending on the instrument being traded.
In general, spreads on Silver accounts start as low as 28 Pips, while spreads on Gold accounts start at 20 Pips (50% discount) and 18 Pips with a 75% discount for Platinum accounts.
Equiity charges no commission on trades, which is a major plus for traders who want to keep their costs low. However, the broker does charge a swap fee for holding positions overnight, which varies depending on the instrument and market conditions.
Equiity’s Leverage Offering
Equiity, as a CFD provider, offers leverage on several financial instruments, allowing traders to increase their exposure to the market with less capital.
Here is a detailed breakdown of the leverage provided by Equiity:
Equiity offers leverage of up to 1:200 for traders with Silver and Gold Accounts, and up to 1:500 for those with Platinum Accounts.
For Silver and Gold Accounts, Equiity offers leverage of up to 1:50, while Platinum Account holders can access leverage of up to 1:125.
Like commodities, Equiity offers leverage of up to 1:50 for Silver and Gold Accounts, and up to 1:125 for Platinum Account holders, on metals trading.
Equiity offers leverage of up to 1:50 for traders with Silver and Gold Accounts, and up to 1:125 for Platinum Account holders, on trading indices.
Equiity offers a leverage of up to 1:10 on trading stocks for both Silver and Gold Account holders and Platinum Account holders.
Equiity offers a leverage of up to 1:2 on trading cryptocurrencies, for both Silver and Gold Account holders and Platinum Account holders.
Equiity Account Types Comparison
Equiity offers three different types of trading accounts – Silver, Gold, and Platinum – each with varying features.
In this section of the Equiity Review 2023, we will provide a detailed comparison of the three account types to help you choose the one that best suits your trading requirements.
The Silver account is an entry-level account, and it requires a minimum deposit of $250. Traders using this account type can choose from four execution modes, including MT4 Fixed, MT4NDD, MT4NCC, and MT4 Cent, with an average execution speed of 0.08 seconds.
For Islamic traders, an Islamic account option is also available, and the account offers a fifth decimal option to enhance precision in trading.
The Gold account is the mid-level account offered by Equiity, requiring a minimum deposit of $250. Traders using this account type can access all the benefits of the Silver account, including the same execution modes, average execution speed, and maximum leverage.
However, the spreads are slightly higher, starting from 20 pips, but traders can avail of a 50% discount on these spreads.
This account type also offers news alerts, access to webinars and videos, an Islamic account option, and a swap discount of up to 50%.
The Platinum account is the highest-level account offered by Equiity, requiring a minimum deposit of $250. Traders using this account type can access all the benefits of the Silver and Gold accounts, including the same execution modes and maximum leverage.
However, the spreads are the lowest on this account type, starting from 18 pips, and traders can avail of a 75% discount on these spreads.
The account also offers news alerts, access to webinars and videos, an Islamic account option, and a swap discount of up to 70%.
Deposit & Withdrawal Conditions
Equiity offers a variety of deposit and withdrawal options, which makes it convenient for traders to choose their preferred method for transactions. The broker accepts bank transfers, credit/debit cards, PayPal, Neteller, Skrill, and VPay for both deposits and withdrawals.
One of the notable features of Equiity’s deposit and withdrawal system is that the broker does not charge any fees for these transactions.
The minimum deposit requirement at Equiity is only $250, which is affordable and accessible for traders at all levels.
Deposits are generally processed instantly. However, it’s important to note that withdrawal processing times may vary based on the payment method used and may take up to 3-5 working days.
User Interface & Trading Platforms
Equiity offers its proprietary WebTrader platform for trading. The platform is accessible via web browsers and does not require any additional downloads.
The WebTrader platform is user-friendly and offers a customizable workspace. Traders can choose from multiple chart types and utilize technical analysis tools for market analysis. The platform also provides real-time market data and one-click trading for faster order execution.
Equiity provides traders with 24/5 customer support via phone, email, and live chat. We tested the live chat function and found that the support team was helpful and responsive.
Additionally, Equiity has a comprehensive FAQ section on its website, which covers a range of topics including account opening, trading guides and deposits & withdrawals.
Overall, Equiity is a well-designed and user-friendly trading platform that offers a variety of financial instruments, advanced charting tools, and educational resources.
The platform is regulated by FSC, ensuring a safe and secure trading environment. With plenty of trading instruments & trading resources, Equiity is an excellent choice for traders who are always on the move.
However, it is important to remember that CFDs are complex instruments and come with a high risk of losing money rapidly due to high leverage.