Table of Content
Equalpros Review – Learn More About This Broker
Table of Content
Equalpros Review, we shall outline the dangers that may arise if you trust the fraudulent broker known as Equalpros and the fine mess that is its website. Don’t get us wrong, the website does look quite nice and attractive, which is more of a problem in this case, but the content we found on it is misleading.
Nevertheless, let’s proceed to our usual analysis that involves the legal background of the scam broker, its trading platform and conditions. We won’t hold back because Equalpros deserves to be put on blast!
|Headquarters||Canary Wharf, 40 Bank Street, London|
|Broker Type||Crypto, Forex, Stocks, Commodities, Indices|
|Platforms||WebTrader & Mobile|
Is Equalpros Safe? Regulation and Security
Allegedly, Equalpros is a financial services provider based in London, UK. Ambitious for such a dubious entity. Speaking of legal entities, which one is behind the fraudulent broker is unknown. Never mind, we shall base our judgment on the evidence we find on the website of the UK’s Financial Conduct Authority.
It doesn’t add up, obviously. So, the only possible explanation is that Equalpros copied this text from somewhere else. Needless to say, it is not licensed by the FCA, which further implies that it’s highly questionable whether the broker would provide a segregated bank account or negative balance protection.
Providers must fulfill these conditions in order to obtain a license and they also must have a minimum operating capital of GBP 730,000 as well as an indemnification clause to protect clients in case the broker goes bankrupt.
Trading Software Available
Let’s take a look at the trading software that Equalpros offers. On the website, we have two sections devoted to WebTrader and the Mobile trading app. When presented in such a way, one might genuinely believe it’s superb software. However, nothing could be further from the truth. WebTrader, as well as the mobile platform, is pretty basic and rudimental.
Advanced tools like copy trading, fast execution, stop loss, unlimited pending orders, and algorithmic trading cannot be used. For that, you need legitimate brokers that offer cutting-edge technology, i.e., Meta Trader 4, Meta Trader 5 or cTrader.
Also, without a license, there’s no guarantee that the platform isn’t rigged to create an illusion of trading. It will take you probably a few deposits until you realize what’s going on. By that time, the scammer will have gone away with your money.
Equalpros offers no account types whatsoever. Not even a demo account. Shame on you, Equalpros! Without account specifications, we don’t know how high the leverage caps are or how wide the spreads go. Also, commissions and available trading instruments are a mystery.
You’re here to trade, not play blind man’s bluff, right? Hence, there’s no reason at all to trust a fraudster like Equalpros with your funds. Real brokers would provide you with a wide range of trading accounts and decent trading conditions.
There’s one more thing we’d like to add. At the bottom of the home page, we noticed the phony uses AnyDesk and TeamViewer as forms of customer support. This is a devious trick you must not fall for. These apps will allow the scammer to gain access to your PC if you allow it. Just think of how that threatens your personal information.
Here are the available trading instruments that Equalpros says it offers:
- Forex – EUR/USD, GBP/CHF, USD/CAD;
- Shares – Apple, Microsoft, Amazon;
- Commodities – gold, silver, crude oil, natural gas…
- Crypto – Bitcoin, Ethereum, Litecoin…
- Indices – UK 100, DAX 30, S&P 500…
The broker honestly thinks that by listing all these instruments, it would appear a bit more legit. Not today, we’re afraid. While these are all cool, we highly doubt you’ll actually be trading them.
Methods of Deposit/Withdrawal
We searched far and wide and found the following – Equalpros accepts three payment methods – credit/debit cards, wire transfers and e-payments. As for the last one, the scammer did not elaborate any further. The first two are common payment methods that have been studied thoroughly up to now.
What is problematic is that the minimum deposit was not disclosed. That’s because Equalpros first uses sweet talk to lure unsuspecting victims and then tests how much it can squeeze out of them. Cruel as it gets.
As for withdrawal fees, they are outrageous if you ask us. But don’t take our word for it, take a look for yourself.
How Can I Get a Refund if Equalpros Stole My Money?
It’s pretty unfortunate. There’s no reason to be ashamed, it could’ve happened to anybody. What’s important now is to consider the possible ways of getting your money back. We’re here to help you with that. All you have to do is go to your issuing bank and request:
- A chargeback – is used to reverse credit/debit card transactions. You can request it within 540 days of the transaction.
- A recall – is used to reverse wire transfers. It’s only possible if you act fast and request it before the transaction is complete.
- Equalpros is a shady and anonymous broker that claims it’s based in the UK;
- The dishonest broker is not registered with the UK’s Financial Conduct Authority;
- Leverage, spreads and the minimum deposit was not disclosed;
- There’s no demo account available;
- Acceptable payment methods include credit/debit cards, e-payments and wire transfers.
FAQs About Equalpros Broker
Is Equalpros a Good Broker?
Equalpros is not a good broker because it is anonymous and unregulated. Also, trading conditions are unknown.
Is Equalpros a Legitimate Broker?
No. Equalpros claims to operate in the UK but is not registered with the FCA, making it illicit.
What Funding Methods Does Equalpros Accept?
Equalpros claims to accept three payment methods - credit/debit cards, wire transfers and e-payments.