Equiti Review 2022

 

Key Takeaways

• Equiti.com was founded as the Divasa Group in 2008, before rebranding to the Equiti Group in 2018.

• Equiti Capital UK Ltd. is regulated by the UK’s Financial Conduct Authority (FCA); Equiti Group Limited Jordan is regulated by the Jordan Securities Commission (JSC); and EGM Futures is regulated by the Dubai Multi Commodities Centre (DMCC), as well as by the UAE's Security and Commodities Authority (SCA).

• The broker also holds regulation in markets such as Kenya, the Seychelles, and Armenia.

• It has won awards such as “Best MENA Online Broker” at the FOREX Expo Dubai 2020, and the “Best FOREX Execution Broker” at the 2019 Jordan FOREX Expo.

• Traders have strong market access and can trade in 66 currency pairs, six precious metals, 37 Contracts for Difference (CFD) instruments and over 150 shares in top markets.

• Equiti UK clients are covered by the Financial Services Compensation Scheme (FSCS) up to £85,000.

• Equiti.com is a no-dealer desk Electronic Communications Network (ECN) broker with rapid execution speeds.

• Equiti.com offers three account types that are suitable for entry-level traders, as well as elite traders.

• Equiti.com offers market access covering five asset classes.

• Equiti.com customers can trade in CFDs in classes, such as FOREX, stock indices, metals and bonds.

• Micro lot and swap-free trading are available.

• Equiti.com offers reasonably competitive spreads and commissions across its account types.

• The maximum leverage offered by this broker is 1:500.

• Equiti.com customers can access high-quality research and education materials.

• Accounts can be funded in four base currencies.

• The broker does not charge an inactivity fee on inactive accounts up to 180 days.

 

Overall Summary

Equiti.com started out as the Divasa Group in 2008, before rebranding its affiliates in the UK, US, and Jordan, to the Equiti Group in 2018. The broker currently operates in regions as diverse as Europe, the Americas, Africa and the Middle East. It has flourished and can now report 300 staff members around the world.

 

The company is regulated by top-level regulators in key areas. In the UK, it is regulated by the FCA. Its Jordan entity is regulated by the JSC, the first global brokerage to be regulated by this authority, while its UAE offices are regulated by the DMCC and the SCA.

 

The company uses the popular MetaTrader4 (MT4) platform for desktop and mobile trading, as well as its proprietary Equiti EQ Trader Web platform. The broker has good market access with traders able to trade in FOREX, shares, indices and commodities. Clients can access 66 currency pairs, six precious metals, 37 CFD instruments, and over 150 shares from major markets, such as the UK, EU and US. 

 

Equiti.com offers two accounts that have industry standard features and pricing. The lower-level Executive Account offers commission-free trading with spreads from 1.6 pips. The high-level Premiere Account offers spreads from 0.2 pips with $70 commission per one million FOREX units traded. 

 

Equiti traders can access a wide range of research and educational tools. The broker has taken the time to develop powerful and insightful articles, videos, and Webinars that cover foundational material and advanced material in equal measure. The customer service desk is operational on a 24/6 basis via live chat, email and phone, to help clients resolve their queries.

 

Who Is Equiti.com Good For?

Equiti.com is a good option for traders of all types. It can cater to entry-level traders, as well as to highly experienced traders with detailed expectations. Having said this, traders at the elite level who expect razor-thin spreads and futuristic analytical platforms may feel disappointed with the broker’s current offering.

 

Equiti.com does not appear to be a large broker by any stretch, and in this competitive mid-level space, it can be difficult for brokers to stand out. This may explain why the broker has done an acceptable job in key areas, such as pricing and platforms, but it does not stand out. Here are some key factors to consider before engaging with this broker:

 

Is Equiti.com Safe?

The Equiti Group is licensed by key regulators in its major regions. Besides being licensed and regulated by the highly regarded FCA in the UK, it is well-regulated in the MENA region. It is licensed by the JSC in Jordan, and its Dubai affiliate is regulated by the DMCC and the SCA. 

 

We view this as a positive, because complying with regulation is no easy feat, and the broker has done the work required to get there. However, apart from these key regulators, the broker operates in areas like Kenya, the Seychelles, and Armenia that are regulated by second-tier financial oversight bodies.

 

As far as keeping client personal data safe, trader information is held in secure third-party cloud facilities. The Equiti Website uses impregnable SSL encryption technology to ensure client funds and information are secured. 

 

Besides the client fund protections offered by the FSCS, as mandated by the FCA, the broker has also taken out additional investor fund insurance up to $1,000,000 per client. Clients pay nothing to access the facility, but one big drawback is that only traders with accounts over $25,000 can get the benefit of this protection.

 

Overall, for a broker of its size, Equiti.com can be considered reasonably safe, albeit with the caveats we have mentioned. 

 

Offering of Investments

As aforementioned, the company offers over 300 financial products, including 66 currency pairs, six precious metals, 37 CFD instruments and over 150 shares from major markets such as the UK, EU and the US. The broker does not offer trading in cryptocurrencies at present.

 

Account Types

Equiti.com offers two account types with the following features:

 

Executive Account

• Typical FOREX spreads are 1.6 pips.

• No commission.

• Minimum deposit of $500.

• MT4 and Equiti EQ Trader.

• USD, EUR, GBP and AED currencies available.

• All market instruments are tradable.

• ECN order execution.

• Micro lot trading enabled.

• Swap-free available.

 

Premiere Account

• Typical FOREX spreads are 0.2 pips.

• Commission $70 per 1 million traded on FOREX.

• Minimum deposit of $20,000.

• MT4 and Equiti EQ Trader.

• USD, EUR, GBP and AED currencies available.

• All market instruments are tradable.

• ECN order execution.

• Micro lot trading enabled.

• Swap-free available.

 

Demo Account

Traders have the chance to work on a demo account to craft their skills. The demo account sign-up page does not show how much virtual money traders with which will work, and this information is not clearly laid out anywhere else on the broker’s Website. 

 

Traders can access the Demo Account on either of the two primary accounts, Executive and Premiere, using both MT4 and Equiti EQ Trader. There is no risk to trader capital, and the Demo Account allows traders to fine tune their strategies before going into the real world of trading.

 

Account Opening

Opening an account is easy. The Open Account clickable button takes traders to a section where they can fill out their personal details and trading experience. The typical information requested here will be information on the trader’s employment and source of earnings.

 

Upon accepting the terms and conditions, traders can access the Equiti Client Portal area to upload their identity and address documentation. Account opening usually takes only a single day for all documents to be checked, thereafter traders can trade on the platform. 

 

Deposits and Withdrawals

Equiti.com offers simple methods for traders to load their accounts with money, or to make withdrawals.

 

Deposits

Equiti.com does not charge any fees for deposits, but traders should be aware of the $500 minimum for first time depositors. Accounts can be funded by:

 

• Bank wire transfer.

• Debit and credit cards.

• Neteller.

• Skrill. 

 

Withdrawals

Processing times and key information for each method is as follows:

 

Bank wire transfer:

• Three to five working days processing.

• Minimum withdrawal $50.

• Withdrawal fee $30.

 

Debit/Credit cards:

• Five to 14 working days processing.

• Minimum withdrawal $30.

• Withdrawal fee is zero.

 

Neteller/Skrill:

• One working day processing.

• Minimum withdrawal $30.

• $30 maximum fee per transaction based on 1% of withdrawn amount.

 

Customer Service

The broker runs a multilingual customer service desk on a 24/6 basis. Traders in need of help can request assistance via live chat, telephone and email. The broker’s agents are well-trained and knowledgeable and can offer advice in nine languages.

 

Commissions and Fees

Equiti.com offers spreads on its Premiere Account that are competitive at 0.2 pips for major currency pairs. The Executive Account spreads are less competitive at typically 1.6 pips for the same currency pairs.

The Premiere Account attracts commission rates of $70 per $1 million for selected FOREX pairs, and $7 per standard lot on precious metals. Other instruments are commission-free. There are rollover fees on positions kept beyond a certain time of day. 

 

Swaps are variable, and they change with the instrument and market. Accounts that are inactive for 180 days are charged a monthly fee. We found this to be a generously long waiting window, as some brokers will charge traders an inactivity fee much sooner.

 

Leverage

The maximum leverage offered by the broker is 1:500 on major and minor FOREX pairs. European Economic Area traders will have to live with a maximum leverage of 1:30. Leverage rates on US shares go up to 1:20 while UK and EU shares go up to 1:10.

 

Platforms and Tools

The broker offers simple tools in the area of platform accessibility. Traders can make use of the downloadable trading platform MT4, or the Web-based Equiti EQ Trader, which is the company’s proprietary platform.

 

MT4

This household name in the trading world provides users with an intuitive environment for newcomers and seasoned traders alike. Clients get access to:

 

• Extensive trading histories.

• 30 advanced charting tools.

• 50 technical indicators.

• Nine timeframes.

• Automated trading capabilities through Expert Advisors (EA).

• Built-in research and analysis tools.

 

Equiti EQ Trader

This Web-enabled platform allows traders to work in FOREX, commodities, stocks, indices and precious metals. It offers its own powerful slate of functions:

 

• Six charting types. 

• Nine timeframes.

• 25 analysis tools. 

• 48 indicators. 

• Built-in risk management tools.

 

Mobile Trading

The MT4-based mobile trading app allows traders to work on the go. It is compatible with iOS and Android devices. It has many of the functions of the desktop app, and it can be downloaded via the broker’s Website. Traders can get access to over 300 financial CFD instruments with real-time prices and quotes. There is also multiple order functionality. Traders can perform technical analysis through the charts and indicators.

Research and Development

Equiti.com has a solid research offering that features an insightful blog series, an active and updated newsroom, and a detailed economic calendar. Traders can also make use of the Technical Newsletter in the Client Portal area that helps more experienced traders make sense of the markets. Many established traders will find the Research Terminal to be innovative as it carries a range of unique sentiment indicators besides market alerts and an economic calendar.

 

Education
Equiti.com’s educational section offers a strong range of educational resources. This includes written guides, workshops and Webinars. Other useful resources include well-produced videos, infographics and a glossary section that explains many common terms. Traders from both ends of the experience spectrum will find the material targeted at them highly useful and applicable.

 

Final Thoughts

This broker does not provide a high-end offering. It offers a simple, accessible and easy-to-understand product that is equally suitable to beginner and advanced traders. Equiti.com tries to keep its products simple and do them well.

 

Users can try one of two trading accounts that are based on ECN trading. The fees are competitive, and traders will get access to tight spreads on certain accounts and no commissions where applicable. They can trade over 300 financial CFD instruments covering FOREX, indices, metals, energies and stocks from major markets.

 

Clients can choose between the dependable MT4 for desktop and mobile or Equiti’s own proprietary EQ Trader platform that is Web-enabled and requires no download. 

 

Brokers who need a helping hand can access an extensive range of research and education tools that are tailored to look after traders of all levels. The material is well-produced and is laid out in an easy-to-follow fashion. If they need help, traders can access quality support through multiple channels on a 24/6 basis.

 

Conclusion

Equiti.com is a mid-sized broker with a slant towards the UK and MENA markets. It does not strive to be the biggest or the best as it is still on a growth journey. Its market access, platforms, prices and overall service is acceptable, and no more. The broker does not stand out in any aspect that we reviewed.

 

As a result, it does a solid job of serving entry level traders and unfussy high-volume traders, but the most progressive clients seeking the next level of trading performance and convenience will not be satisfied.

 

Equiti.com in Brief

Equiti.com is an emerging broker on a growth pathway. It does not have any clear advantages at present, but it does the basics well and is trying to survive in a competitive area. Traders will find good market access, solid but unspectacular platforms, reasonable rates and helpful customer support.

 

Review Methodology

The team at Arincen collected over 120 pieces of data covering in excess of 100 licensed FOREX companies. Data collection was done in three ways:

1. Companies’ Websites.
2. Other Websites that have ranked FOREX companies.
3. A survey questionnaire (referred to here as Survey “1”) we had sent to the companies invited to participate in the exercise. 

We have identified 12 criteria for our assessment, each containing several aspects and carrying its own relative weight. These include licensing, deposits and withdrawals, number of assets etc.  

Afterward we validated the data by:

1. Registering with FOREX companies as a secret shopper and/or as Arincen.
2. Survey number “2,” in which we asked these companies’ customers for important feedback and past experience. 

The next step saw us evaluate and rank each company, relying on the hard work of 15 Arincen employees. We were very careful in ensuring the most accurate assessment possible, including taking into account different languages, as well as the various mobile-app operating systems, e.g., Apple, Samsung etc.

To add credibility to our research project, we sent a final and third survey (referred to here as Survey “3”) to enable participating FOREX companies evaluate our own research and whether it accurately reflects the realities on the ground. We were fortunate enough to receive a mark of 9.9 out of 10! We have kept to a minimum the margin of error, which stood at a measly 1%.

Equiti FAQs

 

• Where is this broker regulated? 

The Equiti Group is licensed by the tier-1 FCA. It is also well-regulated in the MENA region, where it is licensed by the JSC in Jordan as well as the DMCC and the SCA in Dubai. The broker also holds regulation in markets such as Kenya, the Seychelles and Armenia. 

• In what other ways does this broker protect me? 

Besides the client fund protections of £85,000 offered by the FSCS, as mandated by the FCA, the broker also has additional investor fund insurance up to $1,000,000 per client. Clients pay nothing to access the facility, but are advised to carefully study the terms of the cover on the broker’s Website.

• Which countries does this broker serve?

The broker does not accept traders from the US. For the rest, it is unclear from company materials whether there are any other countries on the embargo list.

• Does this broker offer Cryptocurrency trading?

Yes. Clients can trade in Bitcoin, Ethereum, Litecoin and Bitcoin Cash with this broker.

• Does this broker provide any extra offerings?

At the time of writing, this broker did not offer any bonuses, rewards or promotions.

 

• How do I fund my account?

Traders can initiate deposits and withdrawals using the following methods: bank wire transfer, debit and credit cards, Neteller and Skrill.

• Which trading platforms does this broker offer?

Traders can make use of the downloadable trading platform MT4 or the Web-based Equiti EQ Trader, which is the company’s proprietary platform.

• How can I access customer service?

Equiti runs a multilingual customer service desk on a 24/6 basis. Clients can request assistance via live chat, telephone and email.