Equithy Global (https://equithy-global.com/) Review: The “Future of Trading” or a SCAM?

In the world of trading, it’s not uncommon to come across bold claims and promises from brokerage firms. Equithy Global, branding itself as the “Future of Trading” is one such company that caught our attention. However, based on our bitter experience, we approach such statements with skepticism and immediately suspect them to be scams. To delve deeper into the matter and uncover the truth, we have crafted this review.

Equithy Global General Information

Registration and Client Portal Review

The firm, in an attempt to stand out, has crafted its official website in a visually striking ancient Greek style. Instead of the familiar skyscrapers and modern design elements, visitors are greeted with columns, temples, and statues reminiscent of a bygone era. However, beyond the aesthetic appeal, the website quickly falls short in delivering a user-friendly experience.

Navigating Equithy Global’s website becomes an arduous task as information about their services and company is scattered across unexpected sections. It seems as though the website was designed to frustrate and confuse visitors rather than provide clear and concise details. Important information gets lost amid the elaborate visuals and excessive self-promotion.

Every page on this website is saturated with self-praise and accolades. No matter which section you explore, there is always some form of self-congratulatory content. However, such relentless self-promotion raises doubts about the authenticity of their claims. Is the project truly as exceptional as they claim, or is it just a smokescreen to mask underlying issues?

The registration process appears to be straightforward, as it only requires filling out a form with personal information and contacts. However, it is concerning that Equithy Global does not verify the provided email or phone number. Email and phone verification are standard security measures implemented by reputable brokers to confirm the authenticity of user accounts and protect against unauthorized access.

Furthermore, the decision to combine the client portal with the trading terminal creates an inconvenience for traders. Typically, traders expect a separate client portal where they can easily access account information, manage deposits and withdrawals, and perform other administrative tasks. However, these features are integrated into the trading terminal, requiring traders to navigate between different sections and screens.

Trading Conditions

Now, let’s delve into a comprehensive examination of the trading conditions offered by the broker. It is crucial for us to thoroughly understand what they claim to offer as part of their vision for the future of trading.

Account Types Review

Equithy Global offers its clients a range of 5 account types, although their website footer indicates 7 account types. However, there is a discrepancy between the names mentioned in the footer and those presented in the account description section. While the footer explicitly highlights cryptocurrencies, the account descriptions feature more traditional names such as Gold, Silver, Platinum, and so on. Interestingly, it positions itself as a cryptocurrency broker, but in reality, it offers CFDs on various conventional instruments such as currencies and others.

Unfortunately, the website does not provide a demo account for users to practice trading. To start trading, a minimum deposit of $200 is required. The leverage offered is relatively modest at 1:30, and the spreads start at 1%, which is relatively high compared to the industry standard of one or two basis points. Additionally, there are resources available for familiarizing oneself with cryptocurrency wallets and the platform.

For comparison, the Platinum account requires a substantial deposit of $100,000. With this account, clients gain access to higher leverage of up to 1:400 and spreads start from 0.2%. Despite the improvement, spreads remain relatively high compared to the market average. Platinum account holders also receive personalized analyst support and invitations to special events.

Trading Platform

Equithy Global includes an introduction to the trading platform as part of its additional services, but we fail to comprehend the purpose behind it. The platform itself is a standard web trader with classic functionality and a user-friendly interface. The broker does not offer any downloadable desktop or mobile apps. Even novice traders can easily navigate and familiarize themselves with the platform. However, experienced traders might find some of the advanced options lacking or insufficient for their needs.

Equithy Global — Deposit and Withdrawal of Funds

In the FAQ section, managers claim to accept deposits from traders through various methods, including bank cards, bank transfers, electronic payment systems, and most likely cryptocurrencies as indicated in the footer. Furthermore, they even offer a service for introducing traders to cryptocurrency wallets. Withdrawals can also be made using the same methods.

Verification

Equithy Global requires clients to undergo a verification process before they can start trading on the website. The verification process involves providing the necessary documents to confirm the client’s identity and ensure compliance with regulatory requirements. This may include submitting a copy of a valid identification document, proof of address, and potentially other supporting documents. Once the documents are submitted, the team will review and verify the information provided.

Additional Options

Equithy Global offers several additional services to its clients, including market analysis. However, the quality of this analysis remains uncertain as we have not come across any market forecasts or predictions from this broker online. They also have a loyalty program, although it is only available to privileged clients who open high-tier accounts. Additionally, the broker allows you to earn through their affiliate program. You can receive a 10% reward for each referral, provided they deposit at least $1,000 into their trading account.

Is Equithy Global a Scam?

Well, we have accumulated a lot of questions regarding this broker. Let’s shed light on some of the key concerns.

Legal Information and License

Firstly, the broker claims to operate in full compliance with the laws. However, it’s quite perplexing how they offer retail traders a leverage of 300. It comes as no surprise that we expected to find some offshore presence in their legal information, and indeed, we did. The client agreement stipulates that all disputes are resolved under the jurisdiction of St. Vincent and the Grenadines. We decided to verify this jurisdiction’s registry, but we found no records of such a company.

By the way, there have been recent legislative changes in this offshore jurisdiction. Previously, brokers were not required to obtain a license from the FSA regulator. However, now, for simple registration, they must provide a license from the country where the company will operate. So, things have become more complicated with this offshore setup. Nevertheless, Equithy Global still lacks both a registration and a license, despite these evolving regulations.

Domain Info

In the “About Us” section, there is a notable absence of substantial information about the broker itself. Instead, we find elaborate rhetoric about a grand mission and further self-praise. However, we are entirely convinced that this project lacks credibility and experience. Our suspicions were further confirmed by a domain verification, revealing that it was registered on March 2, 2023.

Furthermore, for some reason, the owners of the project did a sort of rebranding. They not only expanded the name of the company, but also moved to the appropriate domain equithy-global.com. By the way, it was registered only on February 21, 2024.

Contacts Review

The broker only provides an email address for contact purposes, which is concerning. Relying solely on email communication can be problematic for several reasons. Firstly, it may lead to delays in response times, as emails may not be promptly addressed or attended to. Secondly, it lacks the convenience and efficiency of real-time communication channels such as live chat or phone support.

More Details

By the way, if you think that we have been consistently misspelling the broker’s name, you are mistaken. It is indeed the chosen brand name of Equithy, to which the epithet “global” was later added. Someone quite ingenious came up with this unique branding decision.

Pros and Cons

2.7 TOTAL SCORE

Equithy Global Summary

It is evident that trading with this broker is not recommended. It raises several red flags that indicate potential scams or fraudulent activities. The lack of transparency regarding its operational history, licensing, and regulatory compliance is a major concern.

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Website information content 3

Client Portal 3

Trading conditions 3

Trading platform 3

Deposit and withdrawal 4

Verification 4

Extra options 3

Licenses and guarantees 1

Work duration 1

Feedback 2

Frequently Asked Questions (FAQ)