Read our full Equiti Review below.
WHAT IS EQUITY?
Found in 2013, Equiti is a respectable forex and CFD brokerage firm with its headquarters located in Jordan. This online broker is regulated by the Financial Conduct Authority.
At Equiti, clients can trade a range of trading instruments, such as 66 currency pairs as well as 6 precious metals and 37 CFD instruments in addition to 150 shares and more.
The broker also offers a variety of trading platforms to its traders, including the Meta Trader 4 and the Equity EQ Trader.
INTRODUCTION
The Equiti is a worldwide broker offering brokerage services in forex market, indices, shares as well as commodities. They use the best trading platform in the industry known as MetaTrader 4 as well as desktop and mobile platforms.
The company has presence in different parts of the world and their services are regulated. You are free and safe doing business with the company. Because of their global presence they meet regulatory demands imposed by those countries they have business such as Jordan, UK.
In Jordan for instance this broker is under the regulation of Jordan Securities commission just as it is regulated by the Financial Conduct Authority which regulated its operations in the United Kingdom. The company is also based in the UAE where their business is regulated by the Dubai Multi Commodities Centre.
Currently they employ more than three hundred workers, and these are in many parts of the world. These are the countries they are doing business in.
As said the brokers deals on many different markets such as forex trade where they make available at least 66 currency pairs. They also engage in other trades. For instance, they have in stock 6 precious metals as well as 37 CFD instruments.
In those countries they operate they can boast of 150 shares and more. They offer two trading accounts where they make available the maximum leverage of 1:500 on the two trading accounts they make available to their customers.
PROS & CONS
Pros
- Very tight spreads
- The company is highly regulated
- Offer various trading platforms which are highly reliable
- They also make available customer support in different languages
- They also make available commission free on some of their products
Cons
- The services are not available in some countries
- They do not trade on cryptocurrencies
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TRADING INSTRUMENTS
Equity offers lots of trading instruments and this covers more than 300 financial products. They offer 66 currency pairs as well as 6 precious metals and 37 CFD instruments in addition to 150 shares and more. The brokers trades on different stocks more than other providers and here is a list of the some of the stocks they currently offer to their customers.
They offer forex, stock, indices, and metals. If you visit the website, you can get the comprehensive list of the financial products they provide for their customers.
The broker also makes things easier for their customers because of the trading costs and spreads. You should know that these can vary. The spreads, commissions as well as overnight funding swap rate can change, and it depends on their various instrument and on the type of trading account you have.
TRADING PLATFORMS
The system offers different trading platforms. The desktop platform which is the Meta Trader 4 platform is downloadable online from the Meta quotes. Apart from that platform, which is the most popular, it makes available mobile platforms as well as web accessible interface also known as EQ Trader.
The MT4 which is also used by other reputable providers has become a standard in the industry because it offers the best and the most intuitive trading environment. This platform is good for traders including the new traders and experienced ones.
The platform also makes available deep trading histories and clients can get thirty advanced charting tools. In addition, they provide up to fifty technical indicators and nine timeframes. Its Expert Advisors makes for the automated trading capabilities.
Equiti EQ Trader
This platform is web enabled and it does not require any download before you can use it. This makes available six charting types, as well as nine timeframes and twenty-five trading analysis tool. It also makes available 48 indicators. Moreover, this platform is available in different time zones.
You can use this platform to trade most of the trading instruments which include forex trade, commodities as well as indices, stocks, and precious metals. Besides, it is highly functional.
One of the most interesting features of the web trader platform of this broker is that it features the standard risks management tool which include take profits and stop losses. You need these risk management tools to control the market when it goes against you and maximize gain when the trader is in your favor.
Mobile trading platforms
There is also the mobile trading platform. It uses meta trader 4 which is the mobile version of this platform. Whether you have android or iOS mobile operating system you can comfortably use this platform to trade.
It is downloadable and you can get it from the official website of the brokers, just check the Google Play store and the Apple Store Apps for this trading software. The platform makes available different features which can assist you to control and manage the trade.
ACCOUNT TYPES
This company offers two account types which include the executive account and premiere account.
Executive account type
Here is what you get from the executive type trading account:
The company offers a typical forex trading spread of 1.6 pips. You can trade this account on all its trading platforms which include MT4 and Equiti EQ Trader.
The minimum deposit allowed for this account is five hundred dollars. They offer different kinds of account trading pairs which include the USD, GBP, EUR, AED.
Here they offer all the instruments and there is no commission available. It consists of micro lots and ECN model.
Premiere
This is the second type of account this broker offers to its customers and it involves the typical forex spread of 0.2 pips. Besides, they charge forex and metal commission. The minimum deposit you can make under this account is twenty thousand dollars. It is traded on both the MT4 and Equiti EQ Trader.
Moreover, they offer the following major currencies, and they include USD, EUR, GBP, and AED. Apart from that they offer all the instruments, and it consists of ECN model and micro lots.
It is not difficult to open any of these two accounts. Just visit the brokers website and click the Open Account button. Clients would be directed to a form where they would provide all the necessary information needed from them. This is available in different sections and you must ensure that you provide an accurate information.
HOW TO OPEN AN ACCOUNT
To open an account with this broker is not difficult. The process is simple and easy. This form is opened and filled electronically and provide the client’s basic information. It must include the contact details. After you do that, you move to the next step of the form filling process, and this is where you provide your residential address and other important information like employment status and financial background.
This will take you to the last step of the account opening process which is the filling of the questionnaire to determine your previous experience about the various instruments they offer. There is also an agreement to the foreign account tax compliance act.
The last stage is where the trader is asked to make an account preference as well as platform, currency, and the swap free account option. You also be asked to select an account password.
The final stage is when the trader would be asked to upload the proof of identification and they listed what it takes. You would also be required to submit a bank statement, or you provide utility bill which would not be older than three months.
When you verify the account and provide all the things required from you, you must make fund deposit to the account through any of the various payment options they make available to their clients.
Remember that in funds deposits, there are minimum requirements, and it all depends on the account type. Once you fund your live trading account then you are ready to go. Otherwise, it is better to start with a demo account.
DEMO ACCOUNT
Demo account is also known as demonstration account. The broker makes this account available for its intending clients to practice before they fund and their live trading account.
This is for practice purpose, and it equips the traders with everything they need to know about any market they want to enter. It can help them with forex trading, the broker, and their rules as well as the various trading platforms they make available.
You must use any of the platforms they make available. The demo account is not funded with real money. This does not involve any risk, but you can use it to master the trade and the market as well as experiment on the various trading strategies available. You will also try all the analytical tools available to you as a trader.
It is recommended that you practice this demo account for at least three months and study all the theories before delving into live trading. You can master everything you need to know through the demonstration account.
SOCIAL TRADING AND COPY TRADING
Social trading and copy trading are very popular on this platform. This is a trading system where traders follow or copy other traders. Before this can happen both traders must be connected online, and the platform provides the system where follow trade and copy trade take place.
The trader copying from the other will view the trade and analyze that trade and decide what to do. Traders can be followed automatically as well as manually. It is recommended that you copy only successful trader who knows what he is doing.
You cannot just follow or copy any trader. There must be a previous experience, and this can help you to determine which trader to copy and so on.
COMMISSIONS & FEES
The broker as stated above makes available two different trading accounts which include the Executive account and the Premiere Account. The two accounts have their minimal account opening amount which include $500 for Executive and $20000 for Premiere account. There are also differences in pip spread which is 1.6 and 1.2 for the two accounts.
The charge does not involve any deposits. When there are e-payment withdrawals, and this could require 1 percent cost per transaction. It is better that traders study the various payment options available to the system and choose those that is most cost effective.
When it comes to trades, the broker charges commission and this is on the Premiere accounts. The rates charges include $70 for everyone million dollars for forex pairs as well as $7 for precious metals. These are the only instruments where charges are made. All the others are free, which means that they are not charged.
Rollovers are also charged when a trading position is on hold up to 20.45 GMT. There are also swaps. When the account is inactive for 180 days then such an account is deemed to be inactive and when it becomes inactive a monthly fee becomes charged on the inactive account.
LEVERAGE
The broker provides a fixed leverage and the maximum you can get is 1:500. This is available for the forex pairs both the major and minor pairs. Pairs that are exotic can get one-tenth leverage rates and this reduces the shares.
WITHDRAWALS AND DEPOSITS
The company offers different ways of depositing money or funding your account. They offered the following options, and they include:
- Bank wire transfer
- Payment card
- Skrill
- Neteller
If you choose to fund your account through bank transfers, it takes up to three working days to be completely processed and for the money to reflect in your live trading account. The other methods you choose can see your account funded in just one day.
To deposit through bank transfers does not impose any amount limitations, but if you choose to transfer money through any of the other options, the minimum amount you can transfer here is $30.
However, do not forget that when you are making the initial deposit that the minimum amount you make must not be beyond the amount stipulated which is $500 for Executive trading account and $20000 for the Premiere trading account. Whenever money is deposited, it is not associated with any fees.
Withdrawals of funds from the system is done following the same method. Fees are charged on withdrawals on the option you choose but when you choose to withdraw through payment cards, then fees are not involved.
The speed of processing is not the same. If you choose to withdraw through Neteller and Skrill, the money can be withdrawn the same day but the other method which is the wire transfer option can take up to three to five days. Payment cards can last between 5 to 14 working days.
If you want to withdraw through wire transfers, the minimum withdrawal is $50 and there are the withdrawal fees of $30. If you choose to withdrawal through debit and credit cards, the minimum withdrawal amount is $30 and there are the withdrawal fees of zero. This means that you will not pay withdrawal fees when you choose to withdraw with cards.
Where you choose to make that withdrawal through Neteller and Skrill, it takes a withdrawal fee of 1 percent to $30 for every transaction in which you want to withdraw.
CUSTOMER SERVICE
Equiti Brokers offers an effective customer service, and the support department is available 24 hours of the five trading days. They are also available on Sundays and they provide different methods of contacting them. The contact is done through different methods which include live chat, phone contact, email and they do that in many languages.
The live chat service is available online and you can discover this option in their website.
You can also contact them on phone and phone contact is equally available on the website and the trading platform and it depends on the country that you are trading from.
If you want to visit them on their backdoor office, the contact address is equally provided, and it depends on the country you want to meet them.
Moreover, the email address is equally available, and you can choose to contact them through any of their social media websites like Facebook, Twitter as well as YouTube. The most interesting thing is that the support department is very helpful, and the staff can assist you in different languages.
SAFETY AND SECURITY
You are safe and secure using this trading platform and the brokers use a secure cloud facilities and SSL encryption to secure your data and information. The trader’s fund is safe, and it is different from the company’s money. In the same way, the customer’s fund is well secured and insured up to $1m for every client.
The brokers are regulated in different countries by different regulators. This ensures the safety and security of your investment. There is absolutely nothing to worry about when you have your money with them.
In the case of insolvency, the client has absolutely nothing to lose and to worry about. First you are aware of the insured sum of up to one million dollars for everybody who has a live trading account with them. It is one hundred percent secured and you have one hundred percent security while doing business with the company.
CASHBACK
The company do offer cashback and other incentives from time to time. You can keep checking the website to know when such offers are available and benefit from them.
RESEARCH
The broker provides different forms of research to help the trader to learn more about the market and the system. This research is available in their economic calendar, newsroom as well as blog.
You can also get more in their websites. If you visit your portal area, there is technical newsletter and research and terminal as well as market news. All these can assist you to master the system and place trades where you do not lose.
EDUCATION
Constant training and education are required in this kind of platform and Equiti is not lagging in this aspect. On its website is the academy section and this is where most of the workshops, guides and webinars and videos are available.
There is other useful training information available here as well, which you can learn from. Topics they offer here are large and it takes care of different trading rules and strategies. Whether you are a beginner or advanced trader, information available here can assist you to take your skill higher.
GLOBAL AWARDS
There is no doubt that this company deserves a global award but as of now there is none displayed on the website. With time such awards could be displayed where they are available.
PROMOTIONS
Sites like this do offer promotions from time to time, but as of now there is none on board. It could be available in the future; therefore, you should keep checking to avail yourself of that opportunity when it becomes available.
CONTESTS
There is no contests available for now, but they do organize such contests from time to time. Also check back to know when it is available.
SAFE OR SCAM?
You can see from safe and security section that this broker is not a scam. It is one hundred percent safe to do business with them. The company is verifiable, and they have a known address where you can visit and locate them. They have an effective and functional customer support department which is always on to take your queries.
Wherever the company is operating they are licensed, and their activities are one hundred percent regulated. In the UK for instance the broker is regulated by the FCA. This authority is known to be very strict. Besides, they have in place a segregated account. The issue of messing up with your account will not arise.
CONCLUSION
In conclusion, Equiti is a reputable broker, and they have strong international presence since they are available in different parts of the world. This broker makes available a range of instruments for market trading.
They are also available in different markets. Traders like their transparent pricing system and multiple customer language and support. The broker uses the MT4 which is the leading platform in the market today.
