“Take your first step towards true financial freedom!” – This is how the brokerage firm Equitiz invites traders, where already more than 270,000 people trade. According to the official website, it is a Swiss organization operating without a license, predominantly targeting users from Europe. One can see positive reviews about the company’s activities, but it’s not advisable to blindly believe them. The platform looks dubious and suspicious, likely a scam. If you want to know why, then join our investigation.
- Equitiz General Information
- Registration and Client Portal Review
- Equitiz Trading Conditions
- Account Types Review
- Trading Platform
- Equitiz — Deposit and Withdrawal of Funds
- Additional Options
- Is Equitiz a Scam?
- Legal Information and License
- Equitiz.co Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
Equitiz General Information
|Phone Number||+44 2081 575523|
|Address||Bahnhofstrasse 52, 8001 Zürich, Switzerland|
|Assets||Forex, stocks, commodities, crypto, indices, metals|
Registration and Client Portal Review
The official website of Equitiz presents a stark example of uninspired design, relying heavily on generic templates and industry clichés. The layout, featuring a predictable arrangement of sections including account types, traded assets, resources, contacts, and company information, lacks innovation. This cookie-cutter approach fails to instill confidence in the firm’s creativity or attention to detail.
Despite offering translations in Spanish and Polish, the website’s linguistic diversity hardly compensates for its lack of substance. This superficial nod to internationalization falls short of substantiating Equitiz’s claim of a 270,000-strong trader base. The content is riddled with vague, uninformative text, seemingly present only to fill space rather than provide valuable insight. The absence of specific data and meaningful information points to a worrying trend of opacity and secrecy within the firm. Visually, the site’s presentation is underwhelming.
To become familiar with the interface of the client portal, it’s necessary to register an account. The process of creating an account involves specifying a name, password, phone number, email, country, address, and promo code. It’s unclear why Equitiz asks to specify an address and country if it’s not required to be documented at this stage. It seems clients are asked to perform extra actions, as these details could easily be provided during the verification process.
However, we encountered problems with creating an account. The promo code turned out to be mandatory to fill out. Where to get it? It’s unknown. Is it necessary to look for an existing client of the company or to contact call center employees? In any case, such an approach from Equitiz does not look positive, quite the opposite. Why is it not possible to freely create an account? Such closed registrations are most often encountered with fraudulent brokers.
By the way, trying out a demo account to test the terminal is also not possible. Such a function simply does not exist in Equitiz.
Equitiz Trading Conditions
It is a CFD broker offering trading in forex, stocks, commodities, metals, indices, and cryptocurrency. We will examine the terms of trading further.
Account Types Review
Equitiz offers a variety of tariff plans. There are five of them:
- Basic. The minimum deposit is €250. Traders receive a personal introductory session, commission-free fund withdrawals, a 3-day trial period with a personal manager, leverage up to 1:10, trading account setup, and auto-trading.
- Silver. Requires a deposit of at least €5,000. Includes a meeting with a certified investment planner, 24/7 technical support, one monthly commission-free withdrawal, a bonus up to 25%, leverage up to 1:25, 2 SMS signals, and 1 protected trade.
- Gold. From €15,000. All the same opportunities, but on more advantageous terms. Additionally, there’s a news feed, a session with an analyst, and fund management.
- Platinum. At least €100,000. More bonuses and signals, broader leverage, 50% insurance, and platinum market access for faster execution. Other services are provided more often and extensively.
- VIP. The minimum deposit is €250,000. The same opportunities from Equitiz, but on the most advantageous terms.
The minimum deposit requirements are simply staggering. A minimum deposit of €250 – a favorite number of all scam brokers. Somehow, if this is the threshold for the initial deposit, then it’s always a fraudulent company. Is Equitiz really safe?
The gap between the first and second tariffs is huge. Moreover, beginners will use up all their additional opportunities offered by the broker in an extremely limited quantity after a few days of trading. Why offer algo trading to beginners? Why not provide educational materials, resources, and personal assistance from experts? Instead, all this appears in tariffs with a minimum deposit of €5,000, and more. It’s blatant extortion by Equitiz.
Commissions are not stated. Moreover, the FAQ states: “Our fees are transparent upfront and can be seen ahead of any transaction”. However, it is not true, as the broker does not disclose these conditions.
We don’t know what Equitiz’s terminal is like and can’t check it because you can’t register an account without a promo code. The broker describes its platform as award-winning and allowing trading anywhere, even on the go. Allegedly, it has a user-friendly interface and real-time market data. Quite a scarce description, and the company’s website lacks a separate section dedicated to the trading platform. We do not recommend believing the written advantages, as brokerage firms tend to exaggerate and embellish the capabilities of their software.
Equitiz — Deposit and Withdrawal of Funds
Users can deposit and withdraw funds on Equitiz’s platform using various payment methods such as credit cards, bank transfers, and e-wallets. Withdrawals can only be made to the source from which the balance was replenished.
The size of commissions for deposit/withdrawal operations is not specified. Additionally, the broker keeps the processing time for withdrawal requests a secret. Electronic payment systems are mentioned, but it is not specified which ones exactly. In general, everything is maximally secretive and opaque.
The verification process involves filling out an interactive questionnaire and providing supporting documents. In addition, it is necessary to sign a declaration confirming the authenticity of the information provided and granting Equitiz permission to conduct the verification. The duration of the verification process can vary and may take up to 5+ days.
It should be noted that verification is only required for fund withdrawals. Without KYC, users can replenish the deposit and make trades, but if they want to withdraw money, they will have to undergo KYC.
Equitiz requires two types of documents:
- Proof of identity: Current valid full passport, government-issued photo identification card, or current valid Driving License.
- Proof of residence: Copy of a recent utility bill, local tax authority bill, bank statement, checking a telephone directory, or credit card monthly statement.
Equitiz offers a very diverse range of additional services. These include deposit bonuses, analytical sessions, algo trading, daily news, signals, protected trades, and insurance.
Additionally, considering the mandatory presence of a promo code for account creation, the broker certainly has an affiliate program, but its terms are not described at all. Equitiz also offers free widgets for all clients: a daily brief, an economic calendar, crypto staking, and an educational center.
Is Equitiz a Scam?
The closed registration looks super suspicious, as this tactic is most often encountered with illegal brokers. One can only guess why companies need such a trick. Meanwhile, the conditions also seem more like those of a fraudulent firm: a high minimum deposit of 250 euros, huge bonuses, and hidden commissions. So far, Equitiz looks more like a scam than a safe and profitable firm.
Legal Information and License
Let’s check the presence of a license and its legitimate status. According to the official website, the broker is registered in Switzerland, as that is where its address is listed. Okay, then we need to refer to the FINMA registry, which controls the activity of all brokerage intermediaries. However, there’s no Equitiz found in FINMA.
Immediately, there’s a question about the legal address. Is it genuinely real? It’s surprising to see a Swiss brokerage company operating without a license from FINMA. Let’s try to check the Central Business Name Index for the presence of our investigation’s subject. Equitiz is not there; there is only a company with a similar name, Equitize Invest AG, but it’s an entirely different organization.
So, that’s the situation. No license and a fake legal address – now the picture has become clearer.
Equitiz.co Domain Info
Since the firm carefully conceals its founding date, or maybe not so carefully, it is necessary to check the domain of the official website, which will indicate when the platform was launched. Thus, the domain was registered on August 30, 2023. It means Equitiz has been operating quite recently.
Checking the firm’s contact details revealed nothing significant. Clients can write an email to Equitiz, or contact one of the four provided phone numbers. Are these numbers accessible? Maybe, but the email turned out to be genuine. However, there is no online chat for quick communication with managers, and no social media accounts, which is a bit odd considering it’s an online broker.
The only thing we haven’t discussed yet is the business model. What is it here? Does the broker route the trader’s deals to the interbank liquidity or providers? Unlikely. Considering the numerous bonuses, lack of a license, and overall illegal activity, it’s easy to guess that Equitiz operates in a dealing desk style, meaning there is a conflict of interest, which will inevitably lead to the creation of artificial obstacles for traders from the platform, as this will be profitable for it.
Pros and Cons
- The website is translated into several languages.
- The email address is genuine.
- There is a lack of regulation.
- Illegal activity.
- The firm has been caught providing false information.
- Inadequate and unfavorable conditions.
- Closed registration process.
- A short period of operation.
Frequently Asked Questions (FAQ)
The broker offers to trade CFDs using leverage and additional services.
According to information from the official website, a minimum of €250 is required for trading.
No, Equitiz is 100% unsafe because it lacks a license and its legal address is fake.