Equiti.com briefly
Equiti Group Ltd is the parent company of a group of forex companies and brokerage providers. It claims more than 300 people work for the company. Clients of Equiti Group have access to individual, corporate, and institutional brokerage services.
Equiti has local offices in the Middle East, North America, Europe, and Asia Pacific areas. Customers can trade through the world’s most popular trading terminals – MetaTrader versions 4 and 5 (MT4 and MT5).
The group consists of Equiti Group Limited Jordan, EGM Futures DMCC in UAE, Equiti Capital in the UK, with Equiti US (formerly Divisa US), Bloom Capital (formerly Divisa NZ) and Equiti Armenia as its subsidiaries.
Regulation
In online trading, regulatory compliance shows how trustworthy the company is. Equiti Group Limited Jordan is a registered trading name in Jordan (Registration Number. 50248), which is authorized and regulated by the Jordan Securities Commission; Equiti Capital UK Limited (Company No. 07216039) is authorized and regulated by the Financial Conduct Authority (FCA) under reference number 528328; EGM Futures DMCC is registered in the United Arab Emirates as a member of Dubai Gold and Commodities Exchange (DGCX), licensed by Dubai Multi Commodities Centre (DMCC) under license number 31573. It is regulated by the Securities and Commodities Authority (SCA) under license number 607136.
Account Types
There are two main types of accounts that traders open with Equiti:
Demo Account – this free account includes 10,000 of USD, EUR, GBP, or AED. The demo account offers access to all the features as the real account, only the money is virtual. Here you can test your strategies without any risk of real loss and then you can start applying them into your real account.
Real Account – there are two types of real accounts available and you can choose the one that suits your trading strategy. The Executive account requires a minimum deposit of USD500 or equivalent and the typical spread for the major currency pairs starts from 1.6 pips. You must invest at least USD20,000 to open a Premiere account. In return, you receive a typical spread for the major currency pairs starting from 0.2 pips at the expense of the USD70 commission per USD1 million traded. Keep in mind that all profits and loss here are real.
Market Maker or STP Broker?
In the legal section on the website it is written that the company deals with clients as principal with respect to any transaction. In other words, the company is a counterparty to each customer’s transaction or acts as a market maker. Market makers take greater risk because they do not hedge each of the client’s orders. They benefit when clients lose and in general this leads to a conflict of interest. However, in the FAQ section the company claims that it is a Straight Through Processing (STP), Direct Market Access (DMA), Non-Dealing Desk (NDD) brokerage firm, which does not hold the client’s positions but sends them directly to its liquidity providers. There is a warning that stop orders do not guarantee that the fill price will be available at the requested price, especially during the market gaps or volatility markets. This means that stop loss orders are not guaranteed and will be executed at the first available market price. Although Equiti is an FCA regulated company, the Risk Warning Disclosure file shows that you can lose more money than initially invested and you will be liable for any additional losses. Therefore, there is no negative balance protection for the retail clients.
Fees
As we already said the Premiere account is involved with charging a commission depending on the traded volume. In addition, there is an inactivity fee and if there is no activity in your account for more than 180 calendar days, a monthly inactivity fee may be applied.
Deposits and Withdrawals
Equiti usually processes deposits and withdrawals within the same business day. Please be aware that at busy periods or for several reasons including but not limited to the remitting party, intermediary banks or internal procedures, the process of deposit or withdrawal may take longer. Clients can use several deposit methods such as bank transfers, credit/debit cards, Neteller, Skrill and Dinarak. Card transactions are processed by Equiti Capital UK Limited. The minimum first deposit is USD500 for Executive Accounts and USD20,000 for Premiere Accounts. The minimum withdrawal amount depends on the withdrawal option.
Trading Platforms
The MetaTrader 4 (MT4) platform allows you to trade on different devices (desktop or mobile), providing you with market access even if you have only your smartphone with you. Giving you the confidence that you always have access to all your information, and therefore you can make well informed trading decisions including elegantly managing the trading risk. There is also a company’s own trading platform called EQtrader, which is web-based.
Assets
Forex – Nearly 70 popular major, minor, and exotic currency pairs can be traded. The spread for the majors starts from 0.2 pips.
Indices – You can trade 14 of most popular major and minor indices globally, such as DJIA, US500 etc. Trading is commission free.
Commodities – 8 of the most traded commodities are available such as Gold, Oil, Platinum and Silver. You can trade them commission free.
Shares – You can trade various shares from all popular markets globally, such as USA (over 120 commission free), UK (28 with 0.16% commission), and EU (14 with 0.16% commission).
Data Centre
The company informs that the servers are in London and are hosted in premium Equinix data centers.
Education
There is a dedicated educational section on the web page called Academy, which contains plenty of stuff such as articles and videos, glossary and publications.
Partnership
Equiti offers Asset Management (AM) and Introducing Brokers (IBs) partnership programs. Asset Manager creates its Multi Account Management (MAM) programs.
Summary
The divisions in the Equiti Group have regulations in different authorities. Equiti is a market maker/STP brokerage company, which provides a wide range of trading instruments via the most popular trading terminal MT4. Depending on the amount of funds you can trade commission free with wider spreads or with some commission and decent spreads. However, to receive decent spreads you must invest at least USD20,000. Deposits and withdrawals are processed within one business day.
